Episode 148
My dismissal notice sparked a weak rebellion among the executives.
They threatened to organize a strike with their loyal employees.
But I was resolute.
“Fire them all.”
The former CEO’s secretary, sweating nervously, said, “Sir, the atmosphere is already tense, that might be a bit…”
“Are you questioning my authority? I’m the CEO, the owner of this company. You should be worried about your own position.”
He was flustered by my demeanor, so different from my public persona, but I didn’t care.
“I acquired this company out of concern for its employees, but I’m still a businessman. I’m not going to protect those who harm the company. Fire them all.”
“Sir, I’m not defending them, I’m just worried about the company. If the executives and their supporters leave, all the ongoing projects…”
I interrupted him firmly. “I know. The company’s operations will be paralyzed. But there’s a saying, ‘New wine requires new wineskins.’ This is no longer Kim Hoo-joong’s Daehoo Electronics, it’s Park Sol’s Daehoo Electronics. We’re cleaning house and starting anew.”
I handed him a list. “Fire these people as well.”
His eyes widened as he scanned the list. “Th-this many?”
It was a list of people who had embezzled Daehoo Electronics’ inventory and sold it to junkyards.
Over 500 people were involved, most of them senior managers and executives.
“They all stole company property. I did some investigating, since I’m in a related industry. Fire them for embezzlement. And if they complain, sue them and make them return the money. Or they can just leave quietly.”
He said urgently, “Sir, there will be a huge backlash if you fire this many people! Especially the executives!”
Annoyed by his repeated warnings, I snapped, “I’ll handle the backlash. I don’t care about the consequences. Let’s do this properly. I’m the one making the decisions, and I’ll take responsibility for the consequences.”
“Y-yes, sir.”
I had used the stick, now it was time for the carrot. “There will be a large-scale promotion to fill the vacant positions. We’ll promote the lower-level employees.”
There would be some initial difficulties after the executives left, but how long would it last?
Some tasks required executive-level expertise, but they were ultimately managers.
The actual work was done by the lower-level employees.
“Think of it as a vaccine. It’s better to suffer a mild illness and recover than to let the disease fester. We’ll fire the people on this list and the executives participating in the strike, but there will be no further restructuring.”
The first thing a new owner usually did was restructure the company, but this embezzlement list was even more effective, as it targeted the high-salaried employees.
The secretary, who had been looking gloomy, smiled brightly. “R-really?”
“Yes. We’re only firing these people. The rest of you will stay with me.”
He was also worried about his job, so he was relieved to hear that he was safe. He said excitedly, “This will boost employee morale! Everyone’s been worried…”
“I acquired this company because I care about the employees. I have to fire those who engaged in corruption, but I don’t intend to harm the innocent employees. Ah, by the way…”
I smiled. “Is the chief secretary currently participating in the strike with acting CEO Oh?”
“Yes, sir.”
“Then the chief secretary position will be vacant soon. Who should we promote?”
He immediately straightened up. “I’ll take care of it, sir!”
“Ah, before that, is Director Im Jong-geun also participating in the strike?”
I had initially planned to fire him as well, but I had later learned that he had come to greet me alone, despite the other executives’ objections, insisting that it was a matter of respect.
He had also seemed concerned about me during the meeting, so he seemed like the most reasonable among them.
It was always better to salvage someone if possible, even if I was planning to clean house.
“Director Im isn’t participating, sir. He’s at home, I believe.”
“What kind of person is he?”
He thought for a moment and then said with a hesitant expression, “He doesn’t really stand out… He’s a good person, a good boss who treats his employees well. But he’s not very impactful.”
“Oh.”
He was described as an average, unremarkable person.
Perfect for a middle management position.
And he hadn’t participated in the strike, so he deserved a chance.
“Contact him and arrange a meeting.”
“It’s good to see you again,” I said to Director Im when he arrived at my office.
“Yes, sir.”
He had been summoned alone, so he must have had some expectations. His face was slightly flushed.
“Do you know why I called you here?”
“Well…”
“You were the only one who came to greet me. I’m willing to give you a chance.”
He stood up abruptly and bowed his head. “Thank you, sir! Thank you!”
Executives who left large corporations usually found jobs at subcontractors or other companies that needed their connections.
But that was only possible if they left on good terms. No one would hire an executive who had been fired by the CEO.
That’s why the striking executives were so desperate, and why Director Im was so grateful.
He had been given a lifeline.
“Of course, there’s a condition. You have to do something to earn your place back.”
“Just tell me what to do, sir. I’ll do anything.”
“Before that, I have a question. Why didn’t you participate in the strike?”
He said with a bitter smile, “I was going to be fired anyway. My contract was about to expire… It was pointless.”
“What?”
“Have you heard of a ‘terminal director’?”
“Ah.”
I finally understood.
There were various ways to fire a regular employee.
And one of them was to promote them to a director position with a one-year contract and then let them go when the contract expired.
It was a promotion, but it was also a pre-determined dismissal. That explained why he had been isolated and hadn’t joined the other executives.
“I see.”
The fact that he wasn’t part of their clique was a plus.
I nodded, and he said, sensing my mood, “What do you want me to do, sir?”
“Those executives who are on strike… I’m not satisfied with just firing them. They dared to defy me. I want to crush them. Do you know any of their weaknesses?”
“Weaknesses, sir?”
“Yes, anything. Corruption, embezzlement, anything.”
He hesitated, seemingly uncomfortable with the idea of betraying his former colleagues, so I smiled and said, “I’ll promote you if you do a good job.”
“Promote me, sir?!”
“Yes, the managing director and senior managing director positions will be vacant. And I’ll extend your contract. You’ll be a real executive, not a ‘terminal director.'”
He gulped. “P-promotion…”
“I’m not asking for too much, am I? Will you do it?”
He wouldn’t be an idiot to refuse a promotion and a contract extension.
He said with a determined expression, “I’ll do it.”
Thanks to Director Im’s efforts, the executives’ dirty secrets were exposed one by one, and they were fired. But the employees of Daehoo Electronics cheered.
There would be no more restructuring, and the path to promotion, which had been blocked for decades, was now wide open.
Their former superiors had been fired, and they now had a chance to take their place.
The remaining department heads worked tirelessly, hoping to be promoted to executive positions, the section chiefs hoping to become department heads, the assistant managers hoping to become section chiefs.
But the initial transition was difficult.
We had to pay penalties for unfulfilled contracts, and all ongoing projects were halted, stalling the company’s growth.
“I said I would handle the consequences, but this is costing us a fortune.”
The penalties alone were almost 100 billion won, and more expenses were expected.
“But the company is recovering quickly, sir. Just be patient,” Park Jong-bum said.
I nodded. “That’s true.”
The employees’ efforts to prove themselves were remarkable, defying the executives’ claims that they were irreplaceable.
They were working hard to win new clients and minimize the penalties.
If it weren’t for their efforts, the costs would have been much higher.
“There’s always a reward for hard work. And bring Kim Yong-tae back to Daehoo Electronics.”
Although he had caused me and others a lot of trouble with his mobile phone venture, his skills as a developer were undeniable.
“Should we have Daehoo Electronics absorb Chunha Electronics?”
“Yes.”
Chunha Electronics had been a temporary solution, and I hadn’t invested much in it.
It was pointless to maintain a small company like that after acquiring Daehoo Electronics.
“Let’s clean up Daehoo Energy and then merge everything into a single group. I’m ready to be a chairman.”
Park Jong-bum smiled brightly. “You want to be the chairman, sir? Excellent decision.”
“I was worried about being too young to be called ‘Chairman,’ but after seeing those executives’ behavior, I changed my mind. If my own subordinates disrespect me like that, I can only imagine how others would treat me. If I’m young, I need a powerful title. Let’s launch Chunha Group.”
Maru said excitedly, “Finally! Chairman! Congratulations!”
“Congratulations? It’s not like I’m getting a raise or anything. It’s just a new business card.”
“But it feels different. CEO Park Sol versus Chairman Park Sol. The latter sounds much more impressive.”
“You’re exaggerating.”
But I wasn’t displeased.
What was the ultimate goal of a businessman?
To build a conglomerate and become its chairman.
“Anyway, start preparing. We’re finally going public.”
Although our subsidiaries weren’t publicly traded, our combined sales exceeded 10 trillion won, placing us 17th in the business world.
The launch of Chunha Group.