Golden Spoon Investment Portfolio - Chapter 481

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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481. Using documents as concrete evidence is a far more reliable way to build trust than a hundred words of explanation.

Three black sedans rumbled through the gates of Manyoung Machinery, located in Poseung-eup, Pyeongtaek, Gyeonggi Province, their engines growling with weight and purpose.
As Seok-won turned his head to gaze out the window from his plush rear seat, the landscape beyond the glass struck him as desolate.

[Oppose Restructuring!]
[Stop Mass Layoffs That Destroy Families Immediately!]
[Determined Struggle!]

Red banners hung throughout the factory building, their messages stark and defiant.
The scene laid bare the harsh reality of the IMF crisis—the Park Group drowning in debt, teetering on the brink of bankruptcy, followed by strikes over mass layoffs and the forced sale of the company itself.
As the convoy of vehicles came to a halt before the office building, Han Ji-sung, who had been riding in the lead car, quickly descended and opened the rear door.
Seok-won stepped out in a perfectly tailored suit, stretching his long legs, and a middle-aged man with graying hair approached with quick strides, bowing deeply at a ninety-degree angle.

“Welcome, sir.”

The middle-aged man, who looked accustomed to wearing work jumpers, was Lee Gwang-yeol, an executive who had spent over twenty-five years at Manyoung Machinery—a veteran of the company.
After the acquisition, he was the only person retained after all the existing management connected to Hansan Group Chairman Lim Jong-myung had been removed.

I recalled the contents of Lee Chul-gyun’s investigation report—how Lee Gwang-yeol possessed outstanding abilities, deep loyalty to the company, and commanded tremendous respect among the employees.

With these thoughts in mind, I extended my hand first with a warm smile.

“It’s good to meet you. You’re Lee Gwang-yeol, correct?”

Lee Gwang-yeol grasped my offered hand with both of his, bowing repeatedly as if deeply honored.

“Yes, sir. Please, speak freely.”
“Why not? We’re family now, after all. There’s no need to stand on ceremony.”

I exchanged brief handshakes with the other executives who had come to greet me alongside Lee Gwang-yeol.
They all appeared visibly tense, clearly anxious about making a poor impression on their company’s new owner.

“Where are the Labor Union representatives?”

As I glanced around and asked, Lee Gwang-yeol responded with an uncomfortable expression.

“He’s… waiting in the conference room. He’s quite upset about the forced dispersal of the strike last time… I’m embarrassed to meet him for the first time under these circumstances.”

Seok-won chuckled softly at the anxious demeanor, as if worried the man might be offended, and spoke as casually as if nothing were amiss.

“Of course his feelings wouldn’t be good—we deployed state power and forcibly suppressed the strike without even having a conversation. Even if we claim we weren’t the ones who did it.”
“….”
“Then let’s head to the conference room right away.”

Lee Gwang-yeol, inwardly relieved that Seok-won showed no particular displeasure, gestured forward.

“This way, please. I’ll show you.”

As Seok-won followed Lee Gwang-yeol’s lead, Yun Ki-hun and Yu Hyun-seok, who had come with him, fell into step behind.

Inside the spacious conference room.
Labor Union representatives with red armbands tied around their heads sat on one side of the long table with stern expressions.

“They’ll definitely start talking about restructuring layoffs, spouting something about the company’s difficult situation. So we absolutely cannot appear weak!”

Everyone nodded in agreement with someone’s words.

“To those office suits, we might be nothing but a few numbers on a spreadsheet, but for us, this is our livelihood. We have to stand and fight to the end.”
“That’s right.”
“Even if we somehow escape the list this time, if we accept restructuring layoffs now, who’s to say we won’t become targets for termination and be forced out of the company whenever they please!”
“Exactly.”
“Those bastards are more than capable of doing that!”

Thus, before their first meeting with the new owner, they steeled their resolve together.
Then the door opened and Lee Gwang-yeol escorted Seok-won into the conference room.

“….”
“….”

The Labor Union representatives fell silent in unison, as if by prior agreement.
With a prickly atmosphere hanging in the air, despite Seok-won’s arrival, no one rose from their seats; they remained stiffly in their chairs, maintaining their silence in a show of defiance.
Yun Ki-hun and Yu Hyun-seok, who had come with him, frowned and wore uncomfortable expressions at what appeared to be a power play.
Meanwhile, Lee Gwang-yeol and the other Manyoung Machinery executives looked bewildered, watching Seok-won’s reaction with nervous uncertainty.
At that moment, Lee Gwang-yeol, unable to bear the tension any longer, spoke in a stern voice toward the Labor Union representatives.

“Your new president has arrived. What are you all doing without greeting him?”

At that, Yoon Dong-hyun, the Labor Union chairman with a thick beard and shaved head, opened his mouth while sitting at an angle.

“Whether the company was sold or not, we have never recognized this person as the president of this company.”
“That’s right.”
“And the sale itself never reflected our wishes at all.”

The union representatives beside him also sharpened their stance in agreement with the chairman’s words.

“These people really….”

Lee Gwang-yeol was taken aback, unable to continue speaking at their far more hostile demeanor than he had anticipated.
But Seok-won, as if he had foreseen such a situation, gently tapped Lee Gwang-yeol’s shoulder with one hand in a composed manner.

“It’s fine.”

The gentle smile he offered left Lee Gwang-yeol almost in awe.
Though clearly in a similar age range to his eldest son, he exuded a composure and confidence that made him seem like a man from an entirely different world.

‘Born with a diamond spoon in the conglomerate family, yet he achieved great success in America through his own efforts and became a titan of Wall Street at such a young age—truly, his presence is different.’

While Lee Gwang-yeol was thinking this, Seok-won stepped forward and swept his gaze across the union representatives seated opposite him.
Then, finally fixing his gaze on the Labor Union chairman’s face, Seok-won spoke in a quiet but clear voice.

“You mentioned just now that you didn’t want the sale—but that’s merely the employees’ wish, isn’t it?”
“What?”
“The Hansan Group, burdened with 6.35 trillion won in debt and driven to the brink of bankruptcy, had no choice but to sell four major subsidiaries, including Manyoung Machinery, just to preserve its name and survive. Surely you’re aware of this?”

Then one of the union representatives flared up and shouted.

“That happened because the group’s management failed to do their job properly—so why should innocent employees bear the responsibility?”

The other union representatives nodded in agreement with his accusatory tone.
But Seok-won paid no mind and shrugged as he spoke.

“There was an unexpected variable called the foreign exchange crisis, but it’s undeniable that Chairman Lim Jong-myung ran the group recklessly.”
“….”

The Labor Union representatives, who never expected Seok-won to agree with their position, were momentarily taken aback.
Lee Gwang-yeol and the executives of Manyoung Machinery wore equally bewildered expressions as they stared at him.
Only Han Ji-sung and those who had come with him maintained a familiar, unsurprised demeanor toward Seok-won’s actions.
Having seized control of the conversation in that single moment, Seok-won continued without pause.

“However, even if management failure rests with the Group’s executives, we cannot avoid a massive restructuring. Otherwise, the entire Group would face bankruptcy. If the Rothschild Fund incident hadn’t occurred and the planned sale had proceeded as scheduled, what do you think would have become of Manyoung Machinery?”

The Labor Union representatives remained silent, their faces hardened.
Seok-won, observing their reaction, spoke as though stating the obvious.

“Most likely, the business divisions would have been split up and the factories dismantled and sold off piecemeal. That’s the typical playbook of a Hedge Fund—it makes sales easier and fetches higher prices.”
“Surely… not.”
“That can’t be…”

The shocking revelation caused the Labor Union representatives’ eyes to widen in shock.
They lifted their heads and turned their gaze toward Lee Gwang-yeol, standing beside Seok-won, their eyes asking if this was truly the case.
Lee Gwang-yeol exhaled softly and revealed the truth that had been concealed until now.

“While the Rothschild Fund incident prevented it from happening, I understand that at the Group level, there were discussions about selling the Gyeongju Factory to the French company Valeo to reduce debt.”
“No. What do you mean!”
“Good heavens…”
“To scheme such a major matter behind our backs without so much as a word of consultation—isn’t that going too far!”

Shocked and deeply angered by the revelation that such a significant undertaking as a factory sale had been underway without any consultation with them, the Labor Union representatives erupted in fury.

“I opposed the sale, but the Rothschild Fund side pushed so forcefully that there was nothing I could do. It’s late, but I have nothing to say except that I’m truly sorry to all of you.”

Lee Gwang-yeol bowed his head in shame.
At that moment, the Gyeongju Factory Labor Union representative slammed his fist hard against the conference table and leaped to his feet, shouting.

“Hmph! If the company thought we would meekly comply with a factory sale, they’re sorely mistaken. We will immediately take direct action to block the sale!”

The other Labor Union representatives, stirred by his passionate outcry, voiced their agreement.

“Absolutely!”
“We must fight to the very end!”
“We can’t just sit back and accept this!”
“That’s right!”

After observing the union representatives spew angry words for a moment, Seok-won opened his mouth with a calm demeanor.

“If you were to strike, the authorities would have mobilized immediately for forceful suppression, just like last time.”
“…!”
“I’ll certainly face some criticism, but since we’ve already done it once, a second time wouldn’t be particularly difficult. Besides, we have the pretext of the IMF crisis to justify it.”

The union representatives’ faces darkened instantly, as the vivid memory of riot police being deployed for harsh crackdowns remained fresh in their minds.
Despite their aggressive posturing, they had come to realize painfully that they occupied the weaker position in this negotiation.
Moreover, exactly as Seok-won had pointed out, in this era of the IMF crisis, workers could only be at a disadvantage.
After all, they needed employment to survive, and without companies willing to hire, their futures looked bleak.
As heavy silence settled over the conference room, Yoon Dong-hyun, the union chairman, still shot Seok-won a hostile glare and spoke with a sharp edge.

“Are you saying we should be grateful that you bought the entire company without breaking it apart?”

Seok-won accepted the remark while maintaining his smile despite the piercing gaze.

“I’ve simply provided information so you can clearly understand the situation.”

I intended to bring the union along to normalize the company quickly, but I had no intention of simply giving in and being led around by them.
Sure enough, noticing their momentum had clearly weakened compared to before, Seok-won spoke with ease.

“Then let’s continue the remaining discussion while seated.”

As Seok-won pulled out a chair and sat down, the others followed suit and took their respective seats.
Leaning his back against the chair, Seok-won looked directly at Yoon Dong-hyun across from him and spoke.

“As you know, I’m a businessman.”
“….”
“Naturally, I believe Manyoung Machinery is a sufficiently good company with considerable growth potential, which is why I invested a substantial sum to acquire it. However, with labor-management relations in such a mess, it will be difficult to normalize the company quickly. Regardless of who bears responsibility for the problem.”

Yoon Dong-hyun nodded his head.

“With restructuring and all sorts of uncertainties already weighing on everyone’s minds, having the company sold and a new owner come in only adds to the anxiety and lack of trust. You’re probably worried that, like the Rothschild Fund, I might wield the blade of layoffs under the guise of cost reduction.”

At Seok-won’s words, which seemed to peer right into their innermost thoughts, Yoon Dong-hyun and the union representatives were genuinely taken aback.

“Trust and faith are things that are difficult to recover once broken—that’s only natural. Especially since the company has been sold entirely to someone else, it would be strange if you didn’t feel this way.”

Seok-won deliberately paused for a moment, drawing the full attention of everyone gathered in the conference room.
Chairman Yoon Dong-hyun and the labor union representatives were now listening intently to his words with serious expressions.

“In such situations, it’s often an effective approach to build trust through concrete documentation rather than a hundred empty words.”

With a subtle gesture from Seok-won, Han Ji-sung, standing behind him, retrieved documents from his briefcase and placed them one by one before the union representatives.
Seok-won interlaced his hands on the table as he continued.

“If you cooperate with the new management in normalizing company operations, I promise that all employees will retain their positions with no layoffs for at least five years. Furthermore, we will retroactively pay the year-end bonuses that weren’t distributed last year due to the company’s circumstances.”
“…!”

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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