Story Of A Big Player From Gangnam Chapter 703 - Employee Stock Ownership Plan (2) – Part 2

Chapter 703: Employee Stock Owners.h.i.+p Plan (2) – Part 2

Gun-Ho and Jong-Suk were walking around the building next to GH Mobile to check its current condition.

Jong-Suk asked Gun-Ho, “I talked with Dyeon Korea’s Manager Ahn at the maintenance team earlier today on the phone. The employee stock owners.h.i.+p plan looks to be the current hot topic among the workers now.”

“Did they already hear about the plan?”

“They are trying to figure out whether it is a good thing or a bad thing to get the company share. They all seem to have different opinions about it.”

“Hmm, is that so?”

“I heard that GH Mobile’s employees will have a chance to get Dyeon Korea’s shares as well.”

“Let’s talk about it later between you and me quietly.”

“Okay, bro.”

Gun-Ho asked, “What’s your plan with this place?”

“I want to continue to manufacture our main products at our current factory in GH Mobile, and we will manufacture all other products in this location. Also, we will use this place as our storage as well. Our current storage is too small, and our vendor companies always have to compete to get the platform trolleys.”

“The platform trolleys? You mean the heavy-duty carts? Those that our vendor companies are using to move their products to their a.s.signed lots in the storage?”

“Yeah. If they have two platform trolleys, they can move their products at once, but if the company has only one platform trolley, they have to travel twice.”

“How many vendor companies do we have now?”

“We have 30 vendor companies that supply parts to us, and we have another 30 client companies that we supply with our products. And, we have four major clients.”

“Four major client companies? What are those?”

“They are, of course, A Electronics, S Group, Egnopak, and Mandong Company. Oh, I need to add H Group to the list as well since we are now getting more and more product orders from them.”

“Hmm, really?”

“I want to make this factory our third production site. Many of our management people at the production site have been working here since the Mulpasaneop era. We have a lot of supervisors, low-level and mid-level managers, and if we open a new production site, maybe we can promote some of them with a one-level up in position.”

“Hmm, I see.”

Gun-Ho said as he was checking the area behind the factory thoroughly, “Jong-Suk!”

“Yeah?”

“You must have had a hard time when you first came here to work with me. You had to survive among those workers who have been here for a long time.”

“When I just joined here, there was a rumor saying that I was very close to you. So, the workers were careful with me. Also, as you know, I call everyone, who is older than me, a brother, so I could get closer to them relatively quickly.”

“Yeah, you are good at it.”

“Also, I was the best worker in the maintenance field. They might know better about the production field, but no one could beat me on the maintenance. I was excellent at handling machines and welding work, so more and more people needed my help.”

“I see.”

“And, I’m not trying to brag here, but I’m physically superior like I’ve never lost to anyone in arm wrestling. And that kind of thing matters between men; you know that, right? We had once a dinner gathering at that time. One team lead got drunk and became physically violent. And I subdued him by giving him a double side kick. I then took off my s.h.i.+rt and showed him the tattoo on my arm. He has never challenged me ever again.”

“Haha, really?”

“Guess what he said after he became quiet.”

“What did he say?”

“He said that he knew that the president watched my back and that it was not fair.”

“Really?”

“I punched him in the face saying that he’d better watch what he was saying. I was so mad that I grabbed an empty beer bottle claiming that I would kill him. About twenty other workers at the table held me to a stop.”

“I didn’t know that happened.”

“So, I told him that I wanted to kill him but I wouldn’t because Mr. President is watching my back. I just hit his head one more time.”

“You shouldn’t get all emotional like that.”

“I know. I can’t do such a thing anymore. I’m the plant manager and the director. I can’t control the workers with physical power, but I have to subdue them with my competency at work and ability.”

“Didn’t the team lead, who was beaten up by you, get hurt at that time?”

“He was okay. I later invited him over to dinner and bought him a drink, just the two of us. Since he is older than me, I called him big brother. I actually helped him to get a promotion. He is still thanking me for it.”

“Really?”

“Do you know how he found out that I helped him to get promoted? President Song talked to him and asked him ‘how come Director Park keeps asking me to promote you in position, every time I see him?’ So, once he realized what I did for him, he had been very good with me. President Song is very skillful. He wanted the team lead to be more obedient to me, so he sort of manipulated the situation. I think President Song can be a good actor.”

“You need that skill sometimes. Learn from him.”

“Haha. Okay.”

“How’s your school? Don’t you have any problem understanding the lectures?”

“English was the hardest one at first, but I’m okay now. I’m very popular there. The students in my cla.s.s keep asking me if they could get a job in GH Mobile after they graduate.”

“Haha, really?”

“Actually, two professors from my university visited me at work once. They wanted to see the manufacturing process in our factory. They are looking for a workplace where they can send the students, so they can gain hands-on work experience. I told them that I’m not in a position to make such a decision, but I will have to get approval from President Song who happens to be very particular. We don’t want to provide our workplace for their training. It would distract our workers with the students hanging around here.”

“Hmm.”

“So, those two professors spoke highly about our company after they visited the factory. They told the students that the company that Jong-Suk Park is working for is a highly advanced factory, and it’s huge. That’s why the students are joking about getting a job here after they graduate.”

“It sounds like you are doing great in school. If you see some students with great potential, just keep an eye on them. They could be our next executive officers in the future.”

It was the day when Gun-Ho would work in GH Building, Sinsa Town. When he arrived at the front entrance of the GH Building, he saw a banner hanging; it was about a new art exhibition.

“Jong-San Ahn’s solo art exhibition? He must be a popular artist.”

Gun-Ho was sitting in his office, reading an economic newspaper. Director Woon-Hak Sim entered his office.

“Are you done with filing general rehabilitation?”

“Yes, sir. The attorney’s office asked for so many doc.u.ments, and it wasn’t easy to prepare them. I had to produce a confirmation note for each creditor with the amount of the debt that I owe to each of them.”

“You didn’t borrow any money from an individual, did you?”

“I have a small amount of debt that I borrowed from someone, but since the amount is small enough to ignore, I didn’t list it. Most of my debts are from non-bank financial inst.i.tutions.”

“Did you file it with the court?”

“I wanted to make sure that it was actually filed before leaving for China. That’s why I’m leaving for China today. I came here to say bye to you, sir.”

“What did the attorney say about your case?”

“He said that he doesn’t see any problems getting me the general rehabilitation.”

“That’s all he said?”

“He said that if the court requests for a deposit, then I will have to make the payment right away. He said that it would be about 10 million won.”

“Hmm.”

“Also, I will have to be present at the court at least once later when the court asks every one of interest to attend. If I don’t appear at the court, the case could be determined unfavorably against me. So, even though I’m busy, I have to visit Korea again later.”

“People of interest pertains to the creditors, right?”

“Yes, sir.”

“I see.”

“The attorney asked that I will have to pay him an incentive once the case is determined successfully.”

“How much does he want?”

“He asked for 20 million won at first. I told him that I’m filing for general rehabilitation because I don’t even have money to repay my debt, and I’m staying in China because of it. And he eventually agreed to 10 million won.”

“So, the attorney already received the retainer fee, and he will get the incentive. He will make good money from your case, huh?”

“That’s why people refer to attorneys as a legally permitted thief.”

“Even though you have to pay a high legal fee for the attorney, it’s for your own benefit. You won’t have to pay the full amount of your debt of 1.2 billion won, and you can pay off your debt with an affordable payment plan.”

“I’m worried, sir. What if the court doesn’t agree to reduce my debt?”

“The judge will take into account your current income in determining the amount that you have to repay, so it won’t be much. I think that you might have to use all of the 1 million won that you are getting from GH Mobile to pay off the debt.”

Director Sim let out a sigh.

“That’s good. If you pay 1 million won per month for ten years, the amount that you have to pay for your entire debt—1.2 billion won—is only 120 million won. You pay only 120 million won for your 1.2 billion won debt.”

“I wish I only had to pay for the next five years like personal rehabilitation.”

“Haha. That’s not going to happen. The people with personal rehabilitation have way less amount of debt than those with general rehabilitation.”