# 498
The Legend of Return
Chapter 498.猪眼猪見 佛眼佛見 (2)
‘Greedy pigs only see pigs in their eyes… Ha ha.’
Kang Il-kwon, the head of the labor union, did not leave Jang Tae-san’s work in his head.
Not a single word was wrong.
Kang Il-kwon was well aware of the fiercer competition in the global automobile market.
From the time I joined the company in the early 1990s, the position of Samryongcha was already narrow.
It was only natural for the company to go bankrupt and adjust its manpower.
Even knowing that fact, it was difficult to accept.
It was not polite to pretend not to notice while watching co-workers lose their jobs overnight and get fired.
However, after fighting so fiercely, all that was left now was a miserable surrender.
The savior then appeared.
A consortium of private equity funds in the US has requested a takeover.
It is true that I was emotionally excited.
I thought I came because Samryong still had charm.
It was a mistake.
Even though it was clear that he had saved the union members of Samryong Motors from drowning, he was greedy.
They even tried to place additional conditions on the absurd damages.
Senior vice chairman Jeong Seong-dong was a bit stupid and had a tough personality.
More problems arose as he got along with the permanent members of the Korean Federation of Trade Unions’ Metal Workers’ Union.
Kang Il-kwon woke up as if he had been covered with ice water.
I came to my senses and looked at Jangtaesan again.
‘A rope sent by the sky…’
I could feel the thoughts of the family members behind the union members.
His face was hot with embarrassment.
I looked at the trees and didn’t even think of the forest.
It reminded me of the cold faces of the local residents whenever there was a strike.
At the time, things I thought were justified and acted.
However, after the company went bankrupt, I realized that there were more than one or two problems.
‘But…’
colleagues looked at himself as the chairman.
A decision had to be made here.
As Jang Tae-san said, it was a crossroads between whether or not to let go of pride like a ferocious lion.
At that time, I remembered the worry-filled face of my wife who had hugged me and told me to cheer up in the morning.
The image of elementary school twins who were busy leaving home because they were busy going to school also passed by.
It also reminded me of the house next door where the family was in disarray.
Kang Il-kwon closed his eyes.
A spark deep inside a trembling heart.
The pride that had not yet cooled was burning the last flame.
And…
I untied the headband with my hand.
Even if you think about it a little rationally, it was a clumsy thing.
Wearing a headband didn’t change anything.
Opening his closed eyes, Kang Il-kwon stood up from his seat.
And bowed politely to investors.
“Sorry for being late for our appointment. And I sincerely apologize for my harsh words and actions toward the working-level investors.”
“Chairman Wei!!!”
Jeong Seong-dong, known for his pride, called Kang Il-kwon.
“This is not it! Why should we bow our heads! They are nothing more than occupying forces steeped in capitalist ideology that is thoroughly vulgar! We must fight more! So…”
“What more are you trying to get? stop! Aren’t you ashamed to see your colleagues sucking blood from mosquitoes inside the tent?”
Kang Il-kwon looked at Jeong Seong-dong with cold eyes.
Jeong Seong-dong’s eyes trembled.
“…A traitor to a filthy organization that was tossed around by capital! You are not even the chairman anymore!”
Udangtang.
Jeong Seong-dong pointed at Kang Il-gwon with his finger and kicked the chair with his foot.
However, the rest of the union members did not rise from their seats as if they agreed with Kang Il-gwon’s opinion.
“Aaaaaaaaaaa!”
Jeong Seong-dong makes a harsh sound.
“I’ll remember all these traitor bastards! all!”
Quaang!
He spat out vicious words, opened the conference room door roughly, and left.
“…..”
Quiet silence.
“I also sincerely apologize for hurting you with strong words because I got caught up in my emotions.”
Jang Tae-san got up from his seat and bowed his head in apology.
“Then let’s start negotiations in earnest.”
After exchanging apologies to each other, Jang Tae-san immediately began to lead the negotiations.
He didn’t even look at Jeong Seong-dong, who left the negotiating table.
“First, investors promise to reinstate employees who were laid off in 2009 and this year.”
‘rehabilitation? What a funny bastard.’
Listening to Jang Tae-san, Lim Yoo-il laughed inwardly.
Even if the car factory was restarted, there was nowhere to sell the car.
Public trust was at rock bottom.
There wasn’t much to lure consumers back to the outdated design and poor interior materials.
“At the same time, we will promote the recruitment of new and experienced staff for the design team and research positions after the acquisition. We plan to extend benefits to them with a different wage system than in the past.”
“…Will the wage system remain the same?”
“Based on the principles established by law, I believe that an adjustment will be necessary for excessive annual salaries. At the same time, employee discounts, which have been supported in terms of employee welfare so far, will be greatly reduced. A 5% discount for employees with 1 year or more and 10 years or less for each car for a 3-year period, and a 20% discount rate for employees with 10% or more service until the 20th year.”
“That… is not very good for the morale of the staff. Not one year, but three years!”
One of the members strongly objected.
“It’s good for consumers. A car maker’s reputation is determined by the value of a used car. So far, the biggest problem with Samryong is the fact that used car prices have been terrible. As you all know, Yantai cars do not have a severe drop in used car prices. On the other hand, Samryong experiences a large drop in used car prices. Product quality is also a problem, but it is also a reason why the cars purchased by employees at excessive discounts are released on the market a year later. Consumers are not as stupid as you think.”
Jang Tae-san’s words were unstoppable and bold.
“…..”
Union members kept their mouths shut at the undeniable fact.
It is true that they have been making money even if they bought a new car, drove it for a year, and sold it as a used one.
Even if you sell the car while driving it with a discount of up to 30%, you can earn pocket money.
Investors who say they will block such a process in advance.
“At the same time, the existing night vigil work is also abolished. Production workers are planning to operate in two shifts a day. The maximum is 2 hours of overtime on top of the basic 8-hour workday.”
“Hut!”
Union members were again surprised.
The night shift and all-night shift allowances were too good to be ignored.
However, it was an investor agent who said he would prevent that in advance.
“If that happens, there will be problems with maintaining wages for employees. A low base salary is accompanied by serious problems in living. Housing issues in the quasi-metropolitan area and many other things…”
The moment Kang Il-gwon tries to list the problems that come to mind right now.
“We plan to provide apartments for the welfare of our employees.”
“yes? Oh, an apartment?”
“!!!”
The committee members stared at the investor agent with a look of disbelief at what they had just heard.
In the past, before the IMF, there were cases where well-known large corporations provided residential facilities.
But now it was a welfare that could not be realistically expected and did not exist.
“The company will provide 15 pyeong for singles who have been in the company for 1 year or more, 25 pyeong for newlyweds and a family of 3, and 32 pyeong for a family of 4 or more.”
“Isn’t it something you have to return when you leave?”
“I plan to transfer the ownership to those who have worked for more than 20 years without leaving the company. However, keep in mind that the conditions will apply 10 years after the investor acquisition.”
“!!!”
It was a tremendous welfare support that could only be dreamed of.
The main reason for the low cost of living is the high cost of housing.
Every year, house prices and jeonse prices skyrocketed.
It was a fear for the employees who lived on a tight schedule with a fixed salary.
An investor agent who will cut off such latent fears from the bud.
Surely, God’s messenger who came down from heaven was right.
“We can even provide free tuition for the children of our employees up to college. However, this applies only if the average grade of B+ is maintained.”
The angelic gifts continued.
It showed a firm will to support school expenses only for the children of employees studying.
“No matter how much work there is, I will settle for a five-day work week. At the same time, we plan to pay support for self-development as a welfare measure.”
“Hmm…”
This was an unconventional plan that went beyond welfare and was close to unlimited benefits.
It was a structure where everything worked out naturally if I only worked at the company as if it were my own.
“But…”
However, there was no way that there was nothing to be desired with only carrots out like this.
“In the future, collective bargaining negotiations will be conducted at least every four years, similar to the United States.”
“yes?”
Jang Tae-san’s sudden declaration hardened the complexion of the labor and management committee members at once.
Every year, I used collective bargaining as an excuse to get bonuses or vacation pay.
That was the biggest job of the year for a large union.
It has been shown through collective bargaining that the union is not soft on company executives.
It was a convenient way to use because there were regulations in accordance with the law.
Even though he is not a knave, the ability of the union was recognized as how much more money he was able to extract from the company in a legitimate way.
It was an undeniable evil.
However, the investor agent blocked the process itself.
“Why are you dissatisfied with this clause?”
“Other conditions are perfect, not to mention, but the labor-management collective bargaining agreement is only a right of workers that can be exercised according to the law. It would be unfair to leave it out.”
Chairman Kang Il-kwon was not convinced.
“In the future, wages will be automatically reflected in line with the inflation rate. Instead of a bonus, your salary will increase. And if the company makes a net profit, a special bonus will go through an investor meeting of more than 10%. In case of deficit, only the basic bonus is paid. Investors are not rods. If you demand more than that and unreasonably initiate industrial action… I would like to make it clear here that we will use all domestic and foreign law firms to recover compensation for damages and the benefits we have paid so far. It is also the right of the company stipulated in the law.”
An investor agent who drives the nail for sure without concessions.
gulp.
Once again, a tense atmosphere lingered in the conference room.
Everyone knew that everything Jang Tae-san said was the truth, not a lie.
“I’ll tell you for sure, but in the takeover of Samryong, there is no need to listen to the union’s position. I think everyone knows that companies that have gone bankrupt end with agreements with creditor banks. But….. to show minimal courtesy, I’m involved. Please note that. Jeong Seong-dong, who had just left his seat, had abandoned basic courtesy toward people. I can assure you that I will never see you at the company again in the future.”
Jang Tae-san’s unilateral notification continued.
Now is the time to make a decision that cannot be postponed any longer.
Union members, including Kang Il-kwon, knew very well that they had no choice but to accept everything Jang Tae-san suggested.
It was impossible to get a more positive offer from anywhere.
After all, there were no bad conditions.
The problem is his pride.
“…I will notify the union members and vote for and against.”
Kang Il-gwon put down his pride once again.
At this level, it was obvious that more than 90% would overwhelmingly agree.
“I have heard from investors. But….. As a legitimate court custodian appointed by the court, I don’t think today’s meeting is such a meaningful negotiation. The investment acquisition price has not been finalized, and the conditions presented by the investor are often unrealistic and abstract. Aside from the agreement with the union, it is necessary to go through agreements with creditors as well.”
I looked at the atmosphere where Lim Yoo-il was going and set up a fight.
If the contract was signed as it is, the 2 billion bonus promised to receive from Meccery would be blown away.
Not only that, but you will not be able to get the next job because you are out of sight of the government.
I had to make the most of my time.
The acquisition price of Tutu Motors under negotiation was 500 billion won.
A significant amount of that amount was also proposed to be raised from a domestic bank.
It seemed that he would bring technical know-how on SUVs and large sedans without spending a few pennies of his own money.
In such a yard, Jang Tae-san hit the candle properly.
Judging by the form, the union completely fell for Jang Tae-san’s words.
No matter who heard it, it was a favorable condition that exceeded expectations.
It was the content that more than 1 trillion won would be invested in approximate welfare costs.
Since it was a metropolitan area, land prices were not too high.
‘I don’t like that kid. I have to move the upper line to make sure I shake it off.’
Lim Yoo-il, who had only listened to everything, defined Jang Tae-san as an enemy to be eliminated.
I was determined to report it to my superiors and get it out of sight.
“What could be the problem?”
Jang Tae-san smiled and asked.
“Currently, the rehabilitation debt of Samryongcha exceeds 700 billion won. In addition to that fund, various debts remain, including 100 billion won in new debt borrowed under the pretext of restructuring. You have to present conditions that will satisfy creditors who suffered significant losses through debt-to-equity swap…”
“I will pay off all your debts. And that without relying on domestic capital.”
“!!!”
Lim Yu-il’s eyes widened to the size of a lantern when he heard that he was paying off his debt.
It was a common strategy for investors to repeat pushing and pulling with creditors.
“I don’t even make a few pennies, so what’s the problem? Stocks are also 70% owned by creditors, right? I will also buy it at market price. The stock price of a ruined company can only be hundreds of billions more!”
‘What is that bastard!’
Lim Yoo-il stared dumbfounded at Jang Tae-san, who mentioned hundreds of billions as if it were about snack money.
This was an overwhelming acquisition condition incomparable to Tutu Motors.
Creditors all welcomed it with open arms.
Lim Yoo-il has a headache.
“The court custodians stop rolling their heads. This Samryong asset is not a property to be sold clumsily, but it is an asset of the people of the Republic of Korea! Stop thinking about selling it for a few pennies… Tell Minister Jang Man-soo, and if you say my name to the upper ranks, they will understand what I mean.”
“Hhhhhhhhhhhhhhhh.”
Lim Yoo-il’s hiccup erupted again.
Jang Tae-san knew all the circumstances and the truth.
A young fellow who suddenly gets chills down his spine and becomes frightened.
It was even creepier to see him smiling at Lim Yoo-il.
Seeing this, Lim Yu-il clearly realized.
That guy wasn’t a person he could deal with.
Also, it was certain that it was a vicious monster that no one could easily deal with.
