The Generous Treatment (2)
The content that came out of Yoon-gi’s mouth was exactly what Ryu Geun-tae and Choi Cheol-kyu had been desperately hoping for. "I will grant you stock options that allow each of you to purchase a 5 percent stake in YK Department Store."
Currently, YK Department Store was 100 percent owned by Yoon-gi. In short, it was a one-man system. Offering stock options meant that, regardless of the specific ratio, it was transitioning into a three-man system. Of course, this was only the surface-level detail; there was a much more significant implication underneath.
"Thank you!" Ryu Geun-tae stood up from his seat and bowed at a 90-degree angle, and Choi Cheol-kyu also grabbed Yoon-gi’s hand, bowing his head in gratitude. "Thank you, Yoon-gi."
Yoon-gi nodded as he watched the two, who were expressing their sincere appreciation. "If you aren't satisfied with the stock options, I can pay you a bonus equivalent to the 'current value of the stock options' instead."
Naturally, both men shook their heads vigorously. "No, sir! I prefer the stock options!"
"Me too! I definitely prefer the stock options!"
Their reaction was by no means exaggerated. Considering the connections to the New Military Regime and Yoon-gi’s proven capabilities, the success of YK Department Store was a foregone conclusion. Ryu Geun-tae and Choi Cheol-kyu were already imagining what the department store would look like in ten years. 'If YK Department Store ever goes public...!'
As Ryu Geun-tae suspected, YK Department Store would eventually be listed on the stock market. The reason for going public? It was to sell the shares. In the 2010s, it was trendy for the wealthy to make a fortune by buying shares of unlisted companies, but in the 80s, most unlisted stocks were worth less than scrap paper. Unless it was a subsidiary of a major conglomerate or a company founded by someone from a powerful firm, most small and medium-sized enterprises acted as subcontractors or had negligible social influence, meaning their stocks were never listed.
This meant that people were often stuck holding unlisted stocks with almost zero trading volume. In some cases, unscrupulous CEOs would force their managerial staff to buy company stock under the pretext that the company would "buy back the shares after retirement."
However, this case was completely different. What kind of value would a 5 percent stake in YK Department Store hold if it were held for 30 years? 300 million won? 3 billion? 30 billion? It was destined to be an unimaginable sum, so Ryu Geun-tae and Choi Cheol-kyu decided to prioritize the exercise of these stock options, even if it meant risking their lives.
"Let’s see... do you have the cash on hand to exercise the stock options right now?"
"I will find a way to prepare it."
Yoon-gi shook his head at Ryu Geun-tae’s words. "There’s no need for that. Consult with the lawyer and borrow the funds from me at a legally sound interest rate."
"I-is it really alright for you to do that?" The tremor in Ryu Geun-tae’s voice was overflowing with enough emotion to fill a bucket.
"Once YK Department Store starts operating in earnest, the price of the shares is bound to rise, even if they are unlisted. It’s better to purchase the options as quickly as possible. Besides, once you borrow the money, won't you be pouring your entire salaries into repayment for a while anyway?"
"Of course! Thank you so much. I will repay it as quickly as possible."
Yoon-gi chuckled and shook his head. "You can take your time with the repayment. I can afford to give you that much consideration."
The atmosphere in the conference room was so harmonious it was practically dripping with honey, and the faces of Ryu Geun-tae and Choi Cheol-kyu were lit up with the greatest happiness in the world.
"Secretary Ryu, please handle the paperwork for the stock options as quickly as possible. Uncle, you should also check the progress with Secretary Ryu."
"Understood!" Watching the two answer with excitement, Yoon-gi steered the conversation back to business. "Secretary Ryu’s report is finished, the discussion about the interim bonus is settled, and Uncle, do you have anything else to say?"
At the shift in atmosphere, Choi Cheol-kyu quickly put on a serious expression and nodded. "Of course I do."
"Chief Choi, President Kim has arrived."
"Show him in."
At Choi Cheol-kyu’s words, the office door opened, and Kim Sun-ho, who would soon be operating a mini-department store, walked inside.
"Oh my, hello! Chief Choi!" Kim Sun-ho, who had entered with a cheerful smile directed at Choi Cheol-kyu, immediately reached out his hand.
"It’s good to see you. Have you been well?" Choi Cheol-kyu also grabbed Kim Sun-ho’s hand, showing intimacy, making their relationship appear truly solid.
"I’ve been doing well, thanks to you. By the way, I came because you said you had something to discuss regarding the wholesale goods today. Is it finally finalized?"
"Yes, I think it’s time to start preparing. You’d feel more at ease if it were finalized quickly, wouldn't you, President Kim?"
"Hahahaha! I’m putting my full trust in you, Chief Choi."
Kim Sun-ho, in his early 50s, had been working as a department head at a major conglomerate until six months ago, when he was pushed out due to a promotion rivalry. In the midst of that, he heard information about YK Department Store’s mini-department store project and jumped at the opportunity.
"I’ve drafted the basic contract here. Please take a look. I’ve prepared it very thoroughly."
At Choi Cheol-kyu’s words, Kim Sun-ho began to look over the contract. 'I heard they’d provide good luxury goods, but what do I know about luxury goods?' Even looking at the list of brands in the contract, Kim Sun-ho could only tilt his head inwardly. He had enough experience working at a major firm that he didn't show his confusion on his face, but it was true that he lacked the ability to understand exactly what items he was being supplied with while reading the contract.
'Since he and I are close, he must have taken care of it well, right? I’ve been so good to him all this time.' Even though he was investing his retirement money, which he had earned by sucking the blood of his subordinates while working as a department head, Kim Sun-ho just laughed heartily.
"Hahaha! I really like the content."
"That’s great. Once you stamp your seal there, President Kim, you’ll be set for a very comfortable retirement."
"Good, good." After stamping the contract, Kim Sun-ho took out a set of traditional Korean sweets (hangwa) from the shopping bag he had brought in.
"This isn't much, but please take it home and enjoy it after work. I tried it myself, and it’s quite delicious."
"Oh my, you shouldn't have. Thank you so much." Choi Cheol-kyu accepted the hangwa without any hesitation, and a moment later, Kim Sun-ho walked out with another hearty smile.
And 20 minutes later, Choi Cheol-kyu called his subordinate on the intercom.
"Has President Jang not arrived yet?"
[Ah, he is entering the entrance now.]
"Receive him with the utmost respect."
[Yes!]
A moment later, as the office door opened with a knock, Choi Cheol-kyu bowed his waist at a 45-degree angle first.
"President Jang! Welcome. I’ve been waiting for you."
Choi Cheol-kyu’s attitude as he greeted him with a smile plastered on his face was on a completely different level from when he had dealt with Kim Sun-ho earlier.
"Every time I come, Chief Choi welcomes me like this, I don't know what to do with myself."
Jang Byeong-cheol, who had hair on the sides but only five horizontal lines on the top of his head, maintained a grave demeanor toward Choi Cheol-kyu. Jang Byeong-cheol’s original profession until a few years ago had been a fruit vendor with a pushcart. However, his life began to change after JSD became a close aide to JD.
As a sixth-degree relative of JSD, Jang Byeong-cheol used JSD’s help to go from a pushcart vendor to the owner of a small shop, and before he knew it, he had become the owner of a reasonably sized trading firm. In the process, he was introduced to the mini-department store project by JSD, which led to his acquaintance with Choi Cheol-kyu.
Back when he was pushing his cart, he was a man who wore rags and had curses constantly spilling from his mouth, but after his life began to change with JSD’s help, he had become a completely different person, at least in appearance. A sharp suit, and hair neatly groomed with pomade despite his receding hairline. On top of that, his grave attitude and tone of speech. 'As expected, circumstances create dignity.'
Although Choi Cheol-kyu knew Jang Byeong-cheol’s rough past through construction site rumors, he didn't show it at all and shouted toward the outside.
"Bring two cups of coffee here, make them nice and sweet!"
A moment later, a female employee brought in two cups of coffee filled with plenty of creamer and sugar, placed them in front of the two, and left.
"I came because you said we’d draft the contract today. Is it ready?"
A strange, condescending tone. Being a close sixth-degree relative of the powerful JSD was enough power in itself, and Jang Byeong-cheol enjoyed this fact. Choi Cheol-kyu matched Jang Byeong-cheol’s attitude accordingly.
"Of course it’s ready. That is the very reason I invited you, President Jang."
As he handed over the contract with a smile, Jang Byeong-cheol took it, looked at it for a moment, and then furrowed his brows. After all, his previous profession was a pushcart vendor. No matter how much he dressed up his exterior, most of his business acumen was obtained through JSD’s real power, so Jang Byeong-cheol’s business sense was inevitably lacking.
"Can’t you explain it a bit more easily?"
"Ah, I only showed you that to let you check it once, but it will be easier if you compare it to this." Choi Cheol-kyu took out the contract he had made with Kim Sun-ho, placed it on the table, and laid Jang Byeong-cheol’s contract next to it.
"Everything else is the same. However, look at this part. The variety of brand items available for wholesale is much larger. And I’m also giving you preferential treatment on the settlement ratio."
Even Jang Byeong-cheol could easily handle a simple comparison, so he smiled at the fact that he was being supplied with far more items. Jang Byeong-cheol didn't know much, but Kim Sun-ho’s contract from earlier didn't contain any high-end lineups, including Hermes. The treatment between Kim Sun-ho and Jang Byeong-cheol was starkly different, to the point where the highest-priced product in Kim Sun-ho’s contract was at least two tiers below Hermes.
"Right, as expected of Chief Choi."
"I’m telling you this just in case, but I’m showing you this specially because it’s you, President Jang. You must never tell anyone else that you saw a different contract. If you do, I’ll get fired."
Who would break the news when they were receiving special treatment? Jang Byeong-cheol also recognized that it was in his own interest for Choi Cheol-kyu to remain in his position, so he nodded with a confident expression.
"Of course! Isn't it obvious that a businessman should keep his mouth shut?"
When Jang Byeong-cheol reached out his hand, Choi Cheol-kyu bowed and grabbed it, and after Jang Byeong-cheol shook his hand vigorously up and down, he walked out of Choi Cheol-kyu’s office with a very satisfied smile.
Then, Choi Cheol-kyu chuckled and opened the box of hangwa he had received from Kim Sun-ho earlier.
"Let’s see~." Choi Cheol-kyu tossed the individually wrapped hangwa onto the table and lifted the cushioning inside the box. There, he saw 100 ten-thousand-won bills spread out, and Choi Cheol-kyu smiled at the sight.
Just then.
Creak-!
The office door opened, and Yoon-gi walked in.