Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 157

157. 46th. Taking Down the Masters part.2 (1)

Even after my grandfather delegated full authority over Haedong Motors to me, I only left Samcheong-dong with Seon Hae-cheol and Park Tae-jin after hearing the story about Geum Seok-ho. As I rode in the car towards Yeouido, I kept looking out the window at the sky.

‘Father, Mother…’

I felt like I could see my father and mother’s faces in the clear sky. When we went on drives when I was young, my father would always say, ‘Someday, I’m going to build a car that travels all over the world with my own hands,’ and my mother would cheer him on from the side…

“Grandfather seems to have changed a lot.”

It was a sudden remark, but Seon Hae-cheol patted me on the shoulder and said,

“You’re the one who changed, Chairman. He hasn’t changed in nearly 70 years, but you did it in 5 years, haha. Don’t you think so?”

“What you say is right. Chairman waking up from his decade-long slumber is all thanks to Director Lee, hehe.”

Even Park Tae-jin let out a soft laugh, making me feel undeserving. I let out a light breath with a satisfied expression and looked out the window.

‘Just getting this far is amazing. But I can’t stop. I want to keep going until I see the end.’

At first, I started with the thought of resolving my resentment, but now I couldn’t stop for the sake of those who believed in me and walked the same path with me. The thought of running until the day I took my last breath made my blood run hot rather than feeling pressured; it seemed I was a terrible workaholic.

We crossed the Han River bridge and entered Yeouido. The car stopped in front of the Haedong Motors headquarters, and I opened the door and got out.

“I’ll go in after taking care of some business. I’ll contact you if anything unusual happens.”

“Okay. Don’t feel pressured and take it easy.”

“Do well, Director.”

After exchanging greetings with Seon Hae-cheol and Park Tae-jin, I turned my body to the opposite side of the road only after seeing the car with the two men leave.

“Hmph.”

Seeing the ADO Group headquarters, which was now the Haedong Motors headquarters, only made me laugh. Originally, wasn’t it supposed to be taken over by Taehyun Motors Group and become the future headquarters of Taehyun Card? I chuckled and looked at the headquarters before taking a light breath.

[…Speak with your chest out. Think of it as meeting them on my behalf. Understand? Hehe.]

“Shall we go?”

Recalling my grandfather’s words, I smiled and took a step towards the main entrance of the Haedong Motors headquarters with my chest out more than ever before.

***

After arriving at the lobby and going through a simple verification process, I entered the chairman’s office, guided by the secretary who came to greet me.

“Thank you.”

After giving a simple greeting to the secretary who opened the door, I looked at Geum Seok-ho’s back as he stood with his hands behind his back, looking out the window.

‘Is he trying to have a battle of pride? Well, I should show some courtesy since it’s the beginning.’

I was a little displeased, but there was nothing to lose by being polite. I greeted Geum Seok-ho’s back.

“Hello, Chairman Geum Seok-ho. I am Lee Sung-min, a strategic consultant for the Haedong Group.”

Only after I finished introducing myself did Geum Seok-ho turn towards me.

“Welcome, Director Lee. I received a call from the Chairman. Have a seat and have a cup of tea first.”

“I will.”

After answering briefly, I sat on the sofa after seeing Geum Seok-ho sit in the seat of honor. After a while, the secretary who opened the door brought coffee, and Geum Seok-ho and I took a sip of coffee and started talking.

“How is the internal organization of the company going, Chairman Geum?”

Was it because I poked at a sore spot from the start? Geum Seok-ho’s hand, which was putting down the teacup, paused for a moment. Soon, Geum Seok-ho put down the teacup and burst into a hearty laugh.

“You’re very direct, Director Lee. Are you going to talk about work as soon as you take a sip of tea?”

Geum Seok-ho looked at me with a calm expression, but I had no sympathy to offer.

‘Courtesy is only up to the greeting. There’s no need to bow down to someone who ruined the company.’

Even if my grandfather said that Geum Seok-ho was one of the leading automotive experts in the country, it was not easy to trust someone who had left an indelible mark as a manager.

It may be arrogance as a regressionist, but I could not trust this person until I had verified him with my own eyes, so the sharp questions would continue.

“Even if Haedong Motors was revived with public funds, it cannot move forward unless it fixes its internal affairs, Chairman Geum. That’s why I asked.”

To my dry voice and businesslike tone, Geum Seok-ho still only showed a calm smile.

“Don’t worry about that issue. We’ve decided on the executives who will take the lead and go on business trips, and the disciplinary actions have been completed according to the severity of the crimes. Chief Ko and Vice President Lee have also handled the personnel appointments.”

Chief Ko Seung-joo and Vice President Lee Myung-jin’s purge was proceeding faster than expected. I had seized control of the personnel, finance, technology development, and production management organizations, but there was one more thing to confirm.

“What about the labor union?”

“The labor union is the same. It was decided to leave only one former union member on the condition that there would be no layoffs, and the withdrawal from the Korean Confederation of Trade Unions [a major national trade union federation in South Korea] was also resolved.”

I let out a light sigh of relief after confirming that the most important labor union issue had been resolved.

‘There won’t be a militant union like the Taehyun Motors union.’

The Taehyun Motors union, the largest within the Korean Confederation of Trade Unions, was the epitome of 막장 [makjang – Korean slang for ” 막가는 인생” which means a life that is going to the extreme].

They would put the name logo of a mid-size sedan on a 준대형 [jundaeyeong – a large-size] sedan, or they would stop the line and read the newspaper or play smartphone games as long as they met the basic production volume, or they would kick the door with their shoes on because the door didn’t fit… it was a mess.

“Director Lee?”

“Yes? …Yes, Chairman Geum.”

I quickly composed myself at Geum Seok-ho’s voice, as I was fed up with the Taehyun Motors union.

“You seemed to be thinking about something for a moment. What were you thinking about?”

“I thought it was fortunate. Whether it was reducing the number of former union members or withdrawing from the Korean Confederation of Trade Unions, it must have been quite difficult to accept.”

Geum Seok-ho was greatly pleased to see me quickly change the subject.

“What are you talking about, Director Lee? They should be grateful that we didn’t lay them off.”

“Is that true?”

“We gave them job security, a 5-day 3-shift system, performance-based pay, and even housing loan installments, so the union leadership was about to fall over in surprise. Those people have at least a minimum of shame, hehe.”

Seeing Geum Seok-ho burst into a hearty laugh, it seemed that the labor union had fallen for the carrot we had offered. In a situation where unemployment was rampant, was withdrawing from the Korean Confederation of Trade Unions a problem when we promised consideration including employment succession?

I nodded and said to Geum Seok-ho.

“In the future, Haedong Motors will be a company that guarantees retirement like other Haedong Group affiliates, but it will be a company where people are paid according to their performance. Everyone wants to be rewarded for their efforts.”

Geum Seok-ho listened to my answer and said to me.

“That’s right. It’s much more beneficial to the company to cut the salaries of lazy and incompetent guys and give them to diligent and competent guys.”

“If the company’s overall profits improve, the salaries of lazy and incompetent people will also increase, but more diligent and competent talents will receive more than them. The same goes for promotions.”

That’s how people are. Who would be happy if the numbers on their paycheck were the same even though they worked harder than others?

According to the performance-based pay system we have set up, all employees will receive a performance bonus of up to 700 percent of their salary multiplied by the percentage of the company’s sales increase compared to the previous year. In addition, individual bonuses that reflect company-wide performance, departmental performance, and individual performance will be paid separately.

‘That performance is not just the standard for salary payment, hehe.’

The employee evaluations that are the basis for bonus payments become the basis for salary negotiations in the following year, and the accumulation of those evaluations determines the speed and success of promotions.

As a result, a junior-level employee in the top 10 percent of departments may receive a higher salary than an executive-level employee in the bottom 10 percent of departments, and some may become a head of department before the age of 40, while others may end up as an assistant manager or manager until the age of 60.

‘It’s only possible because it’s Haedong Motors and because of the foreign exchange crisis. A rotten union like the Taehyun Motors union is absolutely not allowed. Absolutely!’

In the past, the Taehyun Motors Group half-neglected the union’s strikes and demonstrations in order to prevent hostile mergers and acquisitions due to the silkworm-like circular cross-shareholding [a complex ownership structure where multiple companies own shares in each other]. If labor-management relations were a mess, Taehyun Motors would look like a 계륵 [gyereuk – a useless thing], and no one would feel motivated to merge or acquire it. But…

‘Haedong Motors is out of the question. Haedong Corporation and Standard Capital hold everything, and we will pour money from me and my family into equity investments or bond acquisitions to raise it.’

Listing on the stock market or distributing profits to employees is only possible after we have grown it sufficiently. Geum Seok-ho gave a satisfied expression as he looked at me, who was reflecting on the belief that ‘we will reward as much as we perform.’

“It’s amazing that you insisted on buying 100 percent of the shares during the acquisition war, but… you really are the Chairman’s eldest grandson, Director Lee.”

The nuance of Geum Seok-ho’s words, the way he looked at me, and the slightly raised corners of his mouth were strange. What is it?

“What do you mean, Chairman Geum?”

“Didn’t you push forward with everything from the acquisition of Haedong Motors to the rehabilitation plan and future investment plans? With money and skill.”

My neck became cold at Geum Seok-ho’s sly voice.

“Don’t tell me?”

“I heard from the Chairman that you bought half of our company’s shares with your money in Standard Capital. You’re the Chairman’s eldest grandson, so you’re excellent at 재테크 [jaeteheu – financial technology or investment], hehe.”

I felt dizzy for a moment as I looked at Geum Seok-ho, who was laughing heartily. My grandfather told Geum Seok-ho my secret?

***

Geum Seok-ho gave an embarrassed smile as he looked at me, whose face had turned pale.

“Hehe, why is a young friend so surprised?”

“To be honest, I can’t trust Chairman Geum. I believe Chairman Geum knows the reason better than I do.”

When I regained my composure and said with a firm expression, Geum Seok-ho sighed.

“Hoo-, yes. I know my fault. I became arrogant in the position of 총수 [chongsu – the head of a large conglomerate], and in the end, I was eaten up by that position and ruined the company.”

“You know that well.”

Geum Seok-ho stared at me as I retorted sarcastically.

“Still… I am sincerely grateful to you and the Chairman. You gave me the opportunity to wash away my mistakes.”

“Chairman and I have cut off all of Chairman Geum’s hands and feet through Chief Ko and Vice President Lee. Aren’t you upset?”

I brought up the great purge that was carried out as soon as I acquired ADO Motors, but Geum Seok-ho shook his head with a calm expression.

“What’s there to be upset about? I reaped what I sowed… I ruined the company, but you gave me another chance, so I have to work with gratitude.”

Nevertheless, I could not trust Geum Seok-ho. My grandfather must have had his own thoughts in telling him about me, but I didn’t feel good about it. After thinking about it, I said to Geum Seok-ho.

“May I contact the Chairman?”

“Please do. If there is distrust between partners, we must resolve what needs to be resolved and move on.”

After hearing Geum Seok-ho’s cool voice, I immediately took out my cell phone and made a call.

“This is Director Lee, Chairman. How much did you tell Chairman Geum?”

I didn’t like the way I was talking to my grandfather because he had told me about such an important matter without consulting me. Just when I thought I had made a mistake, I heard my grandfather’s voice.

[Don’t doubt that friend Geum Seok-ho too much. From now until he retires, he will be a 명마 [myeongma – a prized horse] that will only listen to you and run like crazy.]

I couldn’t brighten my face even with my grandfather’s gentle persuasion.

“Still, you told such an important matter to Chairman Geum, not to others, Chairman?”

[Don’t worry, hehe. That friend is tight-lipped about matters related to our family, even if he doesn’t know anything else.]

“That’s not enough, Chairman.”

I wanted to hear an answer from my grandfather that would convince me, even though it was uncomfortable that Geum Seok-ho, who was the same age as my great-uncle or great-grandfather, was looking at me.

Following the sigh that was conveyed to my ear in response to my persistent answer, I heard my grandfather’s voice.

[That friend Geum Seok-ho has been coming in and out of our family since he was a director. When the owner family stepped down from ADO Group, it was this grandfather who pushed that friend to take over the chairman’s position and do well. That’s why our Haedong and ADO have been doing business, and Chairman Geum also gave you the first large sedan that you cherish.]

Now everything was clear.

Why our family has the first ADO Motors large sedan, and why our family and ADO Group have been maintaining a business relationship.

“I see.”

[That friend promised me. He said he would take this secret to the grave until you reveal your identity to the people of the world yourself. I’ve taken good care of it, so work well with Chairman Geum and grow Haedong Motors. But if that guy breaks the promise he made in front of you, this grandfather will cut off his head. Don’t worry about it, you rascal.]

If my grandfather said this much, it was my duty as a grandson to trust and follow him. I smiled and opened my mouth.

“I understand, Chairman. I will follow your words.”

[Okay. Good work, hehe.]

Geum Seok-ho carefully asked me, who had hung up the phone with my grandfather’s warm laughter, “How is it, Director Lee? Can you trust me now?”

I stood up from the sofa as I looked at Geum Seok-ho with a firm expression.

“I sincerely apologize for the rudeness I have committed so far. Chairman Geum Seok-ho. I look forward to working with you.”

Geum Seok-ho stood up from his seat as he looked at me, who bowed 90 degrees respectfully. Geum Seok-ho put his hand on my shoulder as I straightened my back.

“I also look forward to working with you, Director Lee. Let’s grow Haedong Motors well.”

I could see a firm determination in Geum Seok-ho’s eyes. Today’s taking down the masters also seemed quite interesting.