A Small Contractor’s Reckoning
Incheon International Airport, the arrivals hall.
"Hmm..."
Vincent let out a brief exclamation as he glanced around.
I felt the same way the last time I came here, but Korean airports really are sleek and spotless.
He had already visited Korea once before, when he came to buy the building in Gangnam.
On the far side of the arrivals gate, a group of men in crisp suits spotted Vincent and bowed politely.
"Welcome to Korea, President Vincent. It’s good to see you again."
"Haha, yes, it’s been a while."
With an easy smile, Vincent accepted their handshake. They were employees from Another Technology’s Korean branch.
"Shall we head out? I’ll take your luggage."
"Thank you."
He handed over his bags, then climbed into the car waiting where the staff guided him.
And so Vincent left Incheon Airport behind and headed for Seoul.
Watching the scenery slip past the window, he thought,
It used to feel so awkward hearing myself called President. Now it’s almost second nature.
At first it had felt strange, but now the role sat on him comfortably. No—if anything, he was starting to enjoy it.
I should go over the materials again before I head to Seongsam Electronics.
"Could you hand me my briefcase?"
"Yes, President."
Vincent checked over the contract he was due to sign with Seongsam Electronics that day.
A contract with Seongsam Electronics... I wonder just what kind of people the secretary and Master are, to be able to expand this quickly.
Seongsam was such an enormous company that even Americans who knew nothing about Korea still knew its name.
Still, if the secretary already reviewed the contract, there shouldn’t be anything for me to worry about. But there is one thing that’s been nagging at me.
What bothered Vincent was the message the secretary had given him at the end.
"When you meet them, mention that Daewoo Geoneop caused trouble during the interior work at the Korean branch~"
Vincent didn’t know what Daewoo Geoneop was.
When the Asia branch had been set up, he’d followed the secretary’s instructions for both the interior and exterior construction, and even then he had never heard of any company by that name.
So it couldn’t have been the contractor that caused trouble... Well, that doesn’t matter.
What mattered was that this company called Daewoo Geoneop had somehow offended the secretary or Master.
And not just anyone—they’d offended people they should never have crossed.
Within only a few months of starting the business, Another Technology’s Master had already formed partnerships with Apple and Seongsam Electronics.
To get on the bad side of someone like that?
Idiotic.
Vincent couldn’t even begin to imagine what became of people like that.
He tightened his tie.
"Let’s go."
There was no need to think too deeply about it. The secretary called him “Master” for a reason, and his job was simply to follow along.
Obeying instructions was the role—and the skill—of a subordinate.
Seongsam Electronics, Seocho headquarters.
The lobby of the place often called the beating heart of the Korean economy was thick with tension.
President Vincent has arrived!
At that announcement, the staff from the Future Innovation Office made one last check of their clothes.
They had fought hard to secure this contract in the first place, and they had no intention of letting a careless mistake ruin it.
A black limousine slid to a stop at the entrance. When the doorman opened the door, Vincent appeared in a perfectly tailored suit.
They really know how to welcome a guest.
So this is how a major Asian conglomerate greets its visitors? Not bad at all.
As Vincent gave a light nod to himself, Kim Hyeoncheol from the Future Innovation Office stepped forward and offered his hand.
"Thank you for making such a long trip, President Vincent."
Vincent took his hand with a relaxed smile.
"Thank you for the warm welcome. I’d heard Seongsam’s name plenty of times, but seeing it in person is even more impressive."
"You flatter us. Please, this way to the conference room."
Kim Hyeoncheol led Vincent to the VIP elevator.
As they rode up to the top-floor conference room, Kim Hyeoncheol quietly breathed a sigh of relief.
Thank goodness. First impression wasn’t bad at all.
Silicon Valley was notorious for being difficult.
Of course he knew Vincent wasn’t a developer but the executive managing the business, but even so, he couldn’t help being tense.
I was worried sick that we might make some mistake in the reception.
Fortunately, Vincent’s manner was gentlemanly, and that eased the atmosphere considerably.
Ding.
The elevator reached the conference floor in no time.
All that remained was to seal the deal.
The mood in the negotiation room was smooth and natural, like water flowing.
Once they arrived, the two men immediately began reviewing the contract.
It was a document that had already been adjusted back and forth dozens of times at the working level, so it didn’t take long.
"The terms are perfect. There’s nothing that needs changing."
Vincent took out a fountain pen. The corners of Kim Hyeoncheol’s mouth lifted slightly.
With this one signature... we gain the strongest ally we could possibly have in the smartphone application market.
Of course, Seongsam would not be the only beneficiary.
Another Technology had already built good relations with Apple as well.
Still, this is more than enough. It’s a major victory.
Just as Kim Hyeoncheol was finally beginning to relax, Vincent, who had raised the pen toward the paper, suddenly stopped and looked up.
"Ah, Director Kim."
"Yes, President."
"Before I sign, I have a minor question."
"If it’s a question you have, then please."
At the words minor question, the air in the conference room suddenly seemed to cool.
Everyone tensed, wondering what he would bring up at the very end of the contract.
What came out of Vincent’s mouth, however, was far more unexpected than anyone could have guessed.
"Do you happen to know a company called Daewoo Geoneop?"
"Daewoo Geoneop... you say?"
Kim Hyeoncheol thought carefully.
Never heard of it. Is it really such a big company that it’s worth mentioning here?
Still, he answered as professionally as possible without showing any confusion.
"I’m afraid I’m not familiar with it, but one of our affiliates, Seongsam C&T, handles construction, so I can look into it on that side. Is it a company you know personally, President?"
Vincent gave a small snort of laughter and shook his head.
But there was a chill tucked beneath that smile.
"When we were preparing the Korean branch, we hired that contractor for the interior work, and it was a nightmare."
"Ah... I see."
"Yes. Honestly, because of that company, my trust in Korea and Korean companies nearly hit rock bottom. A Korean company that couldn’t even handle a simple interior job... When Seongsam contacted me, I couldn’t help thinking the same thing. Even though I knew a huge company like Seongsam was nothing like that contractor."
"...."
"Of course, you can’t judge an entire country based on one bad example, but first impressions matter, don’t they?"
At Vincent’s words, Kim Hyeoncheol nearly laughed out loud inside.
To paint all Korean companies with the same brush just because of one contractor... Typical arrogant American thinking.
But he nodded, keeping his face serious.
When the other side made an unreasonable demand, it was the proper stance of the weaker party to go along with it.
Besides, there was no reason to sour Vincent’s mood by saying, "Not all Korean contractors are like that. Plenty of them are good." There was no risk in crushing a small contractor, but upsetting Vincent carried far too much risk.
Daewoo Geoneop... I don’t know what kind of company it is, but...
At any rate, because of some tiny no-name contractor he had never even heard of, Seongsam might have lost this opportunity entirely.
"I’m only telling you there was an issue like that. It’s really nothing serious. Seongsam Electronics should be different, of course."
"...."
Kim Hyeoncheol nodded.
He’s mentioning this right before signing the contract, so he’s probably asking us to handle it.
"Of course. And I’ll look into Daewoo Geoneop."
"Would you? I appreciate it."
With a pointed little remark, Vincent signed the contract without hesitation.
Scratch, scratch.
The pen stopped moving, and the signed copies were exchanged. Vincent handed the contract to an employee and said,
"Well then, now that the contract is done, I should be on my way."
"Already? We had prepared hospitality for you."
"There’s something I need to take care of in the United States. I’ll accept the thought."
With that same bright smile he wore so easily, Vincent shook hands once more and left the conference room with the Another Technology staff.
Click.
As the door shut, Kim Hyeoncheol let out a breath and yanked at his tie with trembling fingers.
"Whew."
I’d better report to the vice chairman first.
Kim Hyeoncheol immediately called Vice Chairman Lee Jaeyoung.
Lee Jaeyoung had been unable to attend because of an urgent outside appointment that day.
"...Yes, Vice Chairman. The contract with Another Technology has just been signed. ...Yes. President Vincent didn’t seem to care much that you weren’t present. He was very satisfied with the reception and has left. ...Thank you. Yes, understood. I’ll handle it that way."
The report was short and concise.
But there was something Kim Hyeoncheol had to deal with right away.
The Seongsam C&T president’s number was...
The moment he ended the call, he pulled out his phone and dialed another number.
Not long after, the president of Seongsam C&T answered.
"This is Kim Hyeoncheol."
[Yes, Director. To what do I owe the call?]
Because he was only a director, Kim Hyeoncheol was technically below a company president.
But once the Future Innovation Office came directly under the vice chairman, Kim Hyeoncheol’s unwritten standing had risen to equal that of an affiliate president, if not higher.
After all, affiliate presidents were just salaried figureheads, and their performance reviews were handled by the Future Innovation Office.
Kim Hyeoncheol skipped the small talk and got straight to the point.
His voice was cold and sharp.
"Do you happen to know a company called Daewoo Geoneop?"
[Daewoo Geoneop... you say.]
After a brief silence, a puzzled voice came back.
[Well, no. It’s the first I’ve heard of them.]
The C&T president answered so casually that the other side asked, just in case:
[By any chance, is this a company you’d like us to help? If so, I’ll take care of it.]
"The opposite."
[The opposite... I see.]
"Yes. This is a risk tied to a core business of the group. Please handle it personally and decisively, President. If you handle it well, I’ll make sure to remember it."
Kim Hyeoncheol was the man who evaluated the affiliate presidents.
And when such a man said, "I’ll remember it," the Seongsam C&T president answered instantly, without questioning anything.
[Thank you, Director. I’ll handle it quickly and properly.]
"Good. Then I’ll leave it to you. Sorry to bother you on such short notice when you’re probably busy."
[Not at all. Is there anything else you’d like me to do?]
"No, that’s all. Then I’ll let you go. Let’s have a meal sometime."
[Haha, yes, let’s do that.]
Click.
Kim Hyeoncheol hung up. The Future Innovation Office staff member standing beside him asked,
"Director, should we look into this Daewoo Geoneop ourselves as well?"
"No. Whatever that company did, what matters is crushing them. We’ve got plenty of other things to do, so leave it to C&T. Since they’re in the same industry, they’ll handle it better than we would. Besides, C&T won’t care what Daewoo Geoneop did wrong either—they’ll just run them over."
"Understood."
Whether it was Kim Hyeoncheol or Seongsam, all that mattered was one thing: they caused inconvenience and harm to our partner, and because of that, we nearly lost the contract.
He had no interest in what sin some tiny contractor with a forgettable name had committed.
Keeping our partner happy is far more important.
The world of business was cruel and ruthless by nature.
Just as a person feels no guilt when crushing an insect, Kim Hyeoncheol could destroy any company without the slightest remorse if it meant satisfying a partner.
"...No, President Park! What do you mean, all of a sudden!"
Kim Daewoo, Kim Dohyun’s paternal uncle and the head of Daewoo Geoneop, shouted into the phone at the top of his lungs, loud enough to shake the container office.
His face, half-hidden beneath his crookedly worn hard hat, had gone red and purple with fury.
[Ah, President Kim. I’m sorry too. But starting today, Daewoo Geoneop can’t be allowed to buy materials on credit anymore.]
"What do you mean no credit? Why all of a sudden! Do you know how much business I’ve done with you? I’ve never stiffed you on payment, and if you don’t give me materials on credit, how am I supposed to get this project done?! You know better than that!"
[Tsk... Anyway, that’s how it is. Sorry. And pay the outstanding receivables—eighty-two million won—by the end of today.]
"What? We have a contract! You already paid the deposit! This is a breach of contract! President Park, you owe me liquidated damages!"
Kim Daewoo shouted that it was unfair, but the voice on the other end stayed flat.
[Liquidated damages... tsk, fine. Then let’s just subtract that from the receivables. Add a little more on top of the damages and send me twenty million won in unpaid receivables. We’ll call it even.]
"...What?"
[Out of the eighty-two million won, just deposit twenty million. I won’t take the remaining sixty-two. Instead, our dealings end today. Understand?]
"No, wait. President Park! President Park! Hey!"
Click.
The call was cut off coldly. Kim Daewoo stared blankly at the phone.
"...Well, that’s rich."
He was dumbfounded. Being told to pay only twenty million won out of an eighty-million-won debt?
On paper alone, that was the same as making sixty million won where he sat.
But cold sweat was already running down Kim Daewoo’s back.
This isn’t... a sixty-million-won discount.
The construction business fundamentally ran on credit.
Materials were taken on credit from suppliers, projects were completed with those materials, and when the construction payment came in, that money was used to pay off the supplier credit. That rolling chain of debt was the core of the industry.
Those credit lines were the lifeline of the business, and once they were cut, the result was catastrophic.
Yet here a supplier was cutting that lifeline, even at the cost of its own flesh?
That meant only one thing: Daewoo Geoneop is going to collapse soon, so we’d better salvage twenty million won and get out.
In other words, they were deciding to cut their losses.
"...You crazy bastard. Why the hell is this happening all of a sudden? What did I do? The project’s going fine..."
Kim Daewoo called another supplier.
He had work to do right away, and without materials, the project was dead in the water.
But then—
[Ah, sorry. We’re a little short on stock.]
A supplier claiming they had no materials.
[We can’t give credit to Daewoo Geoneop. Pay in advance.]
Another supplier refusing credit again.
[We’re not working with Daewoo Geoneop anymore. Try somewhere else.]
A supplier refusing even when he offered cash up front.
[President Kim, sorry. But... we can’t help it. Please don’t contact us anymore.]
An affiliate partner telling him not to call again and giving no reason at all.
Everyone was refusing to do business with him.
If the materials didn’t come in, the project would stop.
If the project stopped, no progress payment would come out.
If no progress payment came out, he couldn’t cover the promissory notes.
The result was obvious. Bankruptcy.
And if he failed to meet the construction deadline, he would owe a substantial amount in penalties on top of that.
"...Why is this happening?"
It was as though word had spread through the industry that Daewoo Geoneop was finished.
Kim Daewoo’s hands began to tremble.
Then someone burst into the office.
"P-President!"
"What! I already know the materials aren’t coming! Why the hell are you yelling when I’m already losing my mind!!"
"T-the thing is... the headquarters sent someone down!"
"Headquarters? Okwang Construction?"
"Seongsam C&T! The main contractor’s headquarters!"
"...What? Why the hell would C&T come here?!"
Kim Daewoo’s face went white.
Daewoo Geoneop didn’t even contract directly with Seongsam. It was merely a subcontractor attached under Okwang Construction—the kind of company people called a subcontractor of a subcontractor.
And yet the main contractor, Seongsam C&T, had come all the way down to this tiny site in person?
What the hell are they here for?
Usually, a conglomerate’s main contractor paid no attention to bottom-feeders like them.
Even when problems arose, they only took it out on the primary subcontractor in the middle. They never came down directly like this.
Bang! Tap-tap-tap!
Kim Daewoo kicked open the office door and ran outside.
And the instant he stepped out, he froze.
...Why the hell are there so many of them?
It wasn’t just one or two people.
The site was packed with safety and environmental team staff wearing Seongsam C&T hard hats and vests, along with men in suits.
First the sudden abandonment by suppliers and partners.
And now, on top of that, an inspection from Seongsam C&T itself.
Something... is seriously wrong.
And then—
What the hell did I do wrong to deserve this?
Kim Daewoo felt wronged.
But it was all self-inflicted.
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