Chapter 10: Good Things are often Accompanied by Misfortune (2)
Company Employee?
“The guy who took 1 billion won while taking responsibility for the incident.”
Upon hearing Executive Director Lee Min-sik’s words, Executive Director Lee Min-ho remembered what he had forgotten.
“Oh! The one who extorted an additional 300 million won through threats?”
“Why are you bringing that up!”
It had quietly spread like a rumour that Lee Seon-su managed to extract an extra 300 million won.
It became a topic of conversation at drinking parties.
“So, this guy went to Russia? Why is his picture in the newspaper?”
Executive Director Lee Min-ho looked incredulous.
“I don’t know about that guy, but I think it’s because of this one down here.”
“Who is this guy?”
He looked at where Executive Director Lee Min-ho was pointing.
A small person photographed at the bottom of the newspaper photo.
Yet, his face was still recognizable.
“That’s Lee Jeong-seok, a former employee from the Energy Business Division 3.”
Executive Director Lee Min-sik tilted his head, puzzled.
Why would someone know an ordinary employee’s face, especially one who’s not at the level of a manager or a department head?
It made sense if he had used him in a situation like Lee Seon-su’s.
But there hadn’t been any incidents at Samdo General Trading.
“He drafted a rather unique business proposal. It even went up for final review but got shelved.”
“It must’ve been a really unique proposal if you still remember his face.”
“It was unique. Looks like those two went and made it happen.”
“What kind of business?”
“It was a ridiculous idea. Buying gas from Russia and selling it to Europe.”
Executive Director Lee Min-sik was dumbfounded.
“Russia? That Soviet Union? They must’ve lost their minds. Do they know what the situation is like there?”
“Everyone thought the same as you. It’s only been a short while since the Soviet Union collapsed and Russia became a federation. The political situation is chaotic, and public security is terrible.”
“So, those two went there and made the shelved project work? They’re quite something.”
“They really are. If it weren’t for one of our European branch employees visiting for sightseeing, we wouldn’t have known.”
Executive Director Lee Min-sik noticed a glimmer in Executive Director Lee Min-ho’s eyes.
A sense of regret.
“Those two couldn’t have done much. At best, a few billion, right?”
He was deliberately asking.
If it was Executive Director Lee Min-ho, he would have surely done more research.
And Lee Min-ho was also aware that Executive Director Lee Min-sik was asking on purpose.
“They said it’s around 300 billion won in deals.”
“What?”
“300 billion.”
Executive Director Lee Min-sik now understood why Executive Director Lee Min-ho brought the newspaper.
It wasn’t just a minor sense of regret.
An intriguing idea came to mind.
“Hyung, wasn’t this originally a business proposal by Samdo General Trading employee?”
“Yes, it was.”
Executive Director Lee Min-ho looked puzzled.
“Isn’t this, in a way, an unauthorized use of Samdo General Trading’s business item?”
Executive Director Lee Min-ho smirked.
“That doesn’t mean we can just take away the business they successfully completed.”
“Why can’t we?”
“How?”
“The Lee Seon-su I know doesn’t know the first thing about trading. That means the one who actually ran this business was your former employee, right?”
“Is that so?”
“Yes. I bet Lee Seon-su funded it, and your former employee was the one who moved things along. Wasn’t that employee particularly smart but also a bit too nice?”
“Hmm.”
Executive Director Lee Min-ho had already reviewed the documents regarding Lee Jeong-seok after receiving the St. Petersburg newspaper.
From the projects he had been involved in during his tenure to the assessments of those around him.
Thinking about it, Executive Director Lee Min-sik’s words made sense.
He’s the type who can’t easily turn a blind eye to others’ hardships.
If seen positively, he’s kind-hearted. If seen negatively, he’s easy to take advantage of.
“That’s true, but… there’s something bothering me.”
“What’s bothering you?”
“He was almost kicked out of the company for being in the wrong faction. Why would he come back?”
“Ugh. Why are you overthinking it? Just threaten him with unauthorized use of the business proposal and offer him suitable compensation. Have you ever seen money fail to solve a problem?”
Most things could be resolved with money.
“Even if the total deal is worth 300 billion, I don’t know the exact profit margin, but offering around 1 billion won should do the trick. After all, most of the profit will go to Lee Seon-su, and he’ll probably just get some leftovers.”
“Are you sure this guy, Lee Seon-su, won’t give him more?”
“Of course. That guy is extremely greedy. When I tried to threaten him to give up some money, he demanded 1 billion won. And he didn’t stop there; he said he had evidence and extorted another 300 million.”
Judging by what Executive Director Lee Min-sik said, it seemed likely.
“Hyung, leave this to me.”
“To you?”
“Yes, to me.”
“Why would Construction get involved in Trading’s matters?”
“Construction will soon be merged with Trading anyway. Why draw lines like mine and yours?”
Executive Director Lee Min-ho chuckled.
“Already thinking politically?”
“Of course. If Construction is going to be absorbed into Trading, I need to get on the good side of the Trading heavyweights.”
“Isn’t this more about building up your own achievements?”
“My achievements are your achievements too, Hyung.”
“I don’t stand to lose anything, do I?”
If Executive Director Lee Min-sik could take over the Russian business, he could restore some of the tarnished image of Construction.
But it would only be enough to recover from past mistakes.
However, Executive Director Lee Min-ho would gain the full credit for the additional 300 billion won in sales.
Besides, it was a business they could live without.
“Then I’ll handle it. But give me some authority.”
“What kind of authority?”
“I need at least the authority of a Samdo General Trading representative to move forward.”
“I’ll attach the legal and accounting teams to support you.”
“Okay, got it.”
Executive Director Lee Min-sik clenched his fist.
It was an opportunity to build some track record before being absorbed into Trading.
And a chance to get back at Lee Seon-su.
They must have spent quite a lot of money to go all the way to Russia.
It wouldn’t have been easy to secure the gas deals, so they probably handed out bribes as well.
“Heh.”
“Why are you laughing?”
“I’m just curious what kind of expression that employee will have when the project he thought would succeed fails.”
“Who? The employee who took the blame?”
“Yeah.”
“Well, he did take quite a bit of money. Make sure to teach him a proper lesson this time.”
“That’s the plan. I’m thinking of using a budget of around 3 billion won. Is that alright?”
“Be generous. Use around 5 billion won.”
“If you say so, that works for me.”
Executive Director Lee Min-ho was determined to go all out since he was going to do this anyway.
“If you spend that much and still fail, it’ll be tough for you going forward.”
“Only an idiot would fail after spending 5 billion. Don’t worry.”
Executive Director Lee Min-sik was convinced of success.
***
The contract with Gazprom was completed, and the deal with the German gas company Ruhrgas was also signed.
Ruhrgas, the buyer, even thanked them for selling them the gas.
They weren’t acting like a dominant buyer but more like a humble recipient.
It was only natural, given that securing additional gas in gas-scarce Europe would put them at a competitive advantage.
After wrapping up all the contracts, they had a farewell drinking session with Putin.
They agreed to establish a branch office in St. Petersburg within six months and promised to meet again then.
Establishing a branch office was a necessary step.
Not only because of the ongoing gas transactions but also due to the anticipated crude oil deals in the future.
From St. Petersburg, they flew to Europe and then took a flight to Singapore.
Senior Lee Jeong-seok also needed to check on Dream Company.
After confirming that 30% of the gas payment, equivalent to 20 million CBM, had been deposited by Ruhrgas, they were to pay 10% to Gazprom.
When the gas is supplied, they will receive the remaining 70%.
At that point, they would pay Gazprom 90% of the total amount.
This type of contract was something no other company had managed to secure.
***
“Phew. It’s hot. Seon-su, aren’t you hot?”
After being in St. Petersburg, which is in the Northern Hemisphere, it was only natural to feel the heat in Singapore, located in the Southern Hemisphere.
“I’m too busy to feel the heat. Let’s head to the office first.”
“Shall we?”
They took a taxi to Dream Company’s office.
During the ride, Senior Lee Jeong-seok looked around, fascinated by Singapore.
Soon, they arrived at their destination.
“Wow, is it here?”
It was a pretty decent building.
“It’s a shared office space. Since it offers a variety of services, I thought it’d be best to start off in a shared office.”
“Shared office?”
“Yes.”
Singapore is known as one of the best places in the world to do business.
It even supports shared office spaces for businesses.
Additionally, the government provides various benefits.
“How did you find out about such a place?”
“It’s all about money. You select an agency and pay the fees, and they handle everything for you.”
Of course, he didn’t just blindly trust the agency.
If he had solely relied on the agency, there would have been no reason for him to stay in Singapore for over a month.
He had spent his time in Singapore thoroughly researching, comparing shared offices and traditional office spaces.
“You can just move in since it’s fully furnished. Although the rent is slightly higher, you don’t have the burden of buying furniture.”
“That’s great.”
They entered the building together.
From the clean lobby to the reception desk.
Even the security ensured that only registered employees of the tenant companies could enter.
If someone came to visit, a registered employee with a pass had to come down and escort them.
They took the elevator to the floor where their office was located.
Dream Company wasn’t the only one on that floor.
There were several other companies as well.
And Dream Company’s office was located in the most secluded corner.
“Wow.”
Senior Lee Jeong-seok was a bit skeptical about the corner location.
But as soon as he stepped inside, he was impressed.
Except for the adjacent office and the entrance hallway, everything else was made of glass.
Being on the 18th floor, it offered a full view of downtown Singapore.
“The view is amazing.”
“It’s better than I expected, right?”
“It is. But it feels a bit empty with no people around.”
The office could accommodate up to 10 people, but since it was currently empty, it felt a bit desolate.
“We only need one or two local employees, so it’s fine.”
“One or two? You’ll probably have to move soon.”
“Move?”
“Yes. I have some plans in mind.”
It sounded like he had other business ideas.
He planned to listen and then decide.
“The phones are all set up too.”
“Really?”
“Why don’t you call home first?”
Senior Lee Jeong-seok wanted to do just that. But he shook his head.
“I need to confirm if the money came in first.”
“Let’s do that.”
He picked up the phone.
“You have to call the bank to confirm?”
He smiled.
“You can check it over the phone. You only need to go in person when you’re sending money.”
They had only opened a bank account so far.
“It’s not like you can transfer money over the phone for a new account that hasn’t done any transactions.
If it were a small amount, maybe, but…”
Lee Seon-su called the Singaporean bank to check the balance in the account.
“Thank you.”
“Did the money come in?”
“Yes, exactly $114 million.”
“Really?”
“Yes.”
They sold 20 million CBM of gas at $19 per CBM.
The total transaction amount was $380 million.
They received 30% of that amount.
“We just need to send 10% to Gazprom now.”
“$34 million, right?”
Since they bought the gas at $17 per CBM, the total purchase amount was $340 million.
10% of that would be $34 million.
“Let’s see. We received $114 million, so… that leaves $80 million.”
“No, we’re left with $20 million.”
“Ah, you’re right. I got a bit excited there.”
It was understandable.
They made a $2 profit per CBM, which meant a $40 million profit for 20 million CBM.
Half of that, or $20 million, would go to Putin.
So, they were left with $20 million.
At the 1993 exchange rate, it amounted to approximately 16 billion won.
“We can go to the bank tomorrow and send the money to Gazprom and the Swiss account.”
One of the reasons the German Ruhrgas company paid 30% upfront was to send $20 million to Putin’s Swiss bank account.
“Phew. Still, $20 million…”
“Senior.”
“What?”
“We need to have a serious conversation now.”
“About what?”
“About your salary.”
“Oh, that? How much do you want to give me?”
“How much do you want, senior?”
Senior Lee Jeong-seok felt a bit awkward.
“Why are you asking me? You’re the boss here.”
“But you’re the one who made the plan, senior.”
“I only made the plan. I didn’t actually do anything. You did everything, Seon-su.”
“Then would you like to receive shares along with your salary?”
“Shares? We already discussed the shares for the Korean trading company, didn’t we?”
“I’m talking about something else.”
“Dream Company shares?”
“Yes.”
His thoughts had changed a bit.
Although he only negotiated with Putin, Senior Lee Jeong-seok took care of almost everything else.
And he would continue to do so.
In that case, it was better to give him a share of the company.
“Why?”
“I had intended to give you some from the start.”
“Aren’t you going to establish the Korean trading company?”
“I plan to do that as well.”
He would also give him the shares as promised.
“Then isn’t that enough? I don’t need the Dream Company shares.”
“Don’t you have any ambitions, senior? I believe that, as a human, ambition will arise sooner or later. I’d rather address that ambition in advance.”
Lee Jeong-seok thought deeply about Seon-su’s words.
And he realized something clearly.
Honestly, he did have ambitions.
Rather than complaining later, it would be better to receive the shares now.
That way, he would have no grounds for complaints in the future.
“Alright. I’ll think it over and let you know. Is that okay?”
“Please decide and let me know right now.”
“Got it.”
The gas deal wouldn’t end with just one transaction.
If Ruhrgas requested additional purchases, they could sell more.
They weren’t restricted to selling only to Ruhrgas.
By now, word would have spread, and other companies would likely send purchase inquiries as well.
“Hmm…”
Senior Lee Jeong-seok quickly calculated in his head.
They made a profit of approximately 18 billion won per transaction.
Even though 1993 was like that, from 1994 onward, they could manage at least four transactions a year.
That would be a profit of 72 billion won annually.
Even after deducting various expenses, 70 billion won would still remain.
The calculations were done.
“An annual salary of 120 million won, and 3% equity.”
“Really?”
Senior Lee Jeong-seok spoke with a bit of tension.
“Is that too much? Then an annual salary of 60 million won and 1.5% equity.”
His words made Seon-su laugh.
“Who said it was too much?”
“Then?”
“I’ll give you 1.2 billion won in annual salary and 3% equity.”
“……”
Senior Lee Jeong-seok was speechless with surprise.
“The salary will be renegotiated based on performance. We’ll finalize the shares with a lawyer tomorrow.”
For some reason, Senior Lee Jeong-seok felt a lump in his throat.
“Are you really giving me 1.2 billion won?”
“Yes.”
“I didn’t do much.”
What do you mean you didn’t?
You arranged the meeting with Putin.
That alone is worth the money.
“You did. And don’t complain later that the salary is too low.”
“I won’t complain. Who would? I’m getting 3% equity.”
Even receiving dividends would amount to a significant sum.
If they distributed just 10 billion won in net profit, he’d receive 300 million won.
“Don’t betray me if someone offers you more money.”
“Who’s going to offer me more money? You’re the only one who’d give me this much.”
“You never know what might happen.”
“There’s no way. Even if someone offered me 10 billion, I wouldn’t betray you.”
“Don’t forget those words.”
“I won’t. Money is money, but Seon-su, you helped me achieve my dream.”
“It sounds like you care more about the money than the dream.”
“Of course. I’m getting 1.2 billion won. With that, Su-jeong and Mother won’t have to suffer anymore. I don’t need anything more. This is enough.”
It seemed like a reasonable amount.
Even if he was a senior, if he was paid too little, it would surely build resentment.
“I should call home.”
“Go ahead. Do you remember the number?”
“I used to work in a trading company. Don’t underestimate me.”
Senior Lee Jeong-seok skillfully dialed the number for his house in Korea.
Soon, someone answered.
“Su-jeong! I’m sorry for calling so late. I was worried. What?”
Did something happen?
Why was he opening his eyes wide like that?
“What do you mean something came from the police?”
The police?
This didn’t sound good.
—
Read More at – GENZNOVEL.COM!!
-> MAKE ACCOUNT AND GET [50] COINS FREE!!
PLEASE JOIN OUR DISCORD AND SUBSCRIBE THE ROLE TO RECEIVE LATEST NOTIFICATIONS!!
Comment