New Employees With an Annual Salary of 1 Trillion Won - Chapter 108

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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Chapter 108. Niche Strategy (3)

 

Twowork Branch 1 successfully opened.

 

American media also praised the new concept of ‘shared office’ without reservation.

 

With results following suit, Chairman Robertson’s reaction was naturally bound to be positive.

 

“I spoke with the Chairman yesterday, and you can’t imagine how delighted he was.”

 

“Was his reaction so good that he personally called the General Manager?”

 

“A building with a 40% vacancy rate is now at 0%. And it was even reported in the media that the Chairman led this achievement, so there’s no reason for him not to be pleased.”

 

Looking at simple numbers alone, it was true that the 40% vacancy rate had become 0%.

 

However, in reality, the existing vacant spaces were utilized as welfare areas and conference rooms, so the actual vacancy rate had dropped to about 10%.

 

“There were more applicants than expected, so we could quickly reduce the vacancy rate.”

 

Store #2, which will open soon, should be fine too, right?”

 

“We already have over a thousand applicants. We can fill it to a similar level as Store #1.”

 

“That’s fortunate then. The shared office won’t be a concern anymore. …But there’s a problem with other areas.”

 

The General Manager was pressing his temples as if he had a headache.

 

The shared office business was successful, so why was he showing this reaction?

 

“Is there some other problem?”

 

“The problem is that the Chairman is too excited. Not just buildings, but apartments, villas, vacation homes too. He’s buying everything up.”

 

“Those real estate properties will increase in price in the long run, so it’s not exactly a loss.”

 

“In the end, maintenance costs are the problem.”

 

The shared office business was created because of maintenance costs too.

 

Residential buildings like apartments or villas weren’t exempt from maintenance costs either.

 

“We’ll definitely have to operate at a loss.”

 

“Even if villas and apartments can be utilized to some extent, places like vacation homes have no way to generate profit. Of course, we might sell them later at higher prices, but until then, Tiger Fund has to bear all the maintenance costs.”

 

It was difficult to create shared residential spaces like shared offices.

 

Of course, in cases of expensive residential spaces, there were instances of multiple people sharing, but that was never a good direction.

 

However, there wasn’t absolutely no method.

 

If we changed the sharing method, we could sufficiently create a profit structure.

 

“There is a way to handle the maintenance costs to some extent.”

 

“Is there such a method?”

 

“It’s a concept of sharing space like shared offices, but we can make the method completely different.”

 

“What kind of method?”

 

“If we rent out apartments or villas in a hotel-like manner, we can cover the maintenance costs to some degree.”

 

While it’s difficult to handle expensive monthly rent.

 

I thought that for short periods, people could sufficiently afford those costs.

 

“You’re suggesting introducing a short-term rental system.”

 

“If we enable free check-in and check-out, and charge per night. Travelers, business travelers, or short-term residents would very likely use it.”

 

“That would naturally be good, but wouldn’t the profit structure be uncertain and complicated?”

 

Naturally, compared to regular monthly rent structures, it was uncertain.

 

Since money wouldn’t come in stably every month.

 

But thinking differently, it was also a system that could secure even higher profits.

 

“During off-seasons, we lower rates to increase turnover, and during peak seasons, we raise rates to balance the profit average. And by introducing this method, we can generate profits even from real estate like vacation homes.”

 

“That all sounds good, but is it feasible?”

 

“We can build the system through the internet. Hotels handle everything from check-in to room management at the lobby, but for us, the internet can replace the lobby’s role.”

 

Broadly speaking, it wasn’t different from a hotel structure.

 

It was just that unlike hotels, the rooms and lobby would be separated across multiple spaces rather than one location.

 

“If we can build the system, it seems like it would be a decent business.”

 

“It’s a business that can sufficiently cover at least the maintenance costs. And like Twowork, it’s also a business we can sell off together when disposing of real estate.”

 

“We can sell the real estate and the business together, so we can make double profits. Very good.”

 

Real estate prices were bound to rise anyway.

 

So if we just covered maintenance costs, it would definitely be profitable.

 

If it’s a platform with an established and operating system, we could sell it as a business entity along with the real estate, potentially getting even higher prices.

 

“I’ll try building the system.”

 

“But wouldn’t it be a bit awkward to include this business in Twowork? Even if the concept is similar, the system is completely different.”

 

“We can create it as a new business entity and operate it under the real estate category.”

 

“We just need to decide on a name. Since even the cheapest apartments or villas will definitely provide at least one air bed. A name similar to air bed would be good. How about combining ‘ever’ and ‘bed’ to make Everbed?”

 

“The sound is good and the meaning is good too. I’ll create the website and system as Everbed.”

 

The new concept accommodation system, Everbed.

 

It was a platform to keep the Chairman continuously excited.

 

But a more stable and decent gear structure kept coming to mind, and a massive blueprint that would change the existing accommodation system began to take shape.

 

***

 

Store #2 and Store No. 3 of the shared office also recorded great success.

 

And the accommodation sharing platform, the Everbed system, was also somewhat completed in construction.

 

However, there were still insufficient parts, and to fill these parts, I had to go to the United States myself.

 

“So we’ve come to the United States together again.”

 

“Still, I feel a bit more at ease being with the General Manager.”

 

“I’d like to help Employee Lee’s work, but I have to focus on the presidential election, so I won’t be much help.”

 

I did come to the United States with the General Manager.

 

But our purposes were completely different.

 

I was here for real estate-related work, but the General Manager was here to observe the presidential election that was only days away.

 

“I can do well by myself. And there are Head Office employees too, so you don’t need to worry.”

 

“Of course Employee Lee can do well alone. The problem is it doesn’t seem like you’ll be alone.”

 

I unconsciously squeezed my eyes shut.

 

I knew well what the General Manager was worried about.

 

“You mean the Chairman?”

 

“The Deputy Branch Manager calls several times a day asking when you’re arriving in the United States. Please endure it a little.”

 

“…I’ll try to bear it somehow.”

 

As soon as we arrived at Headquarters, my worry became reality.

 

The Chairman was waiting for us, having come all the way down to the lobby.

 

“Have you been well?”

 

“I’ve been fine. Mike General Manager looks like he’s been well too.”

 

“I came to the United States since the presidential election isn’t far off.”

 

“This election is historically close. Even political circles can’t predict who will win.”

 

The fate of an election with unpredictable results.

 

But we couldn’t just wait quietly for the results.

 

Assuming Candidate Bush would be elected, we had to start making our presence known in various places from now to receive proper compensation later.

 

“I should visit the election camp first.”

 

“Good luck with that. I should go look at real estate with the Deputy Branch Manager.”

 

Without asking for my opinion even once.

 

The Chairman left the General Manager in the lobby and put me in his car.

 

“Why has it been so long? I keep telling you to visit more often.”

 

“I had difficulty finding time while creating the shared office and accommodation system.”

 

“Well, I should understand that. The shared office idea was truly artistic. How did you come up with an idea that even American media would praise so highly?”

 

“I was lucky. It was just an idea I created with the sole thought of reducing vacancy rates.”

 

What made him so happy?

 

Chairman Robertson nodded vigorously and gave me thumbs up with every word I said.

 

“Why is there no one else besides the Deputy Branch Manager who can think of such ideas? You’re truly a lucky charm. And this time you’ve created a shared accommodation system too?”

 

“It wasn’t a particularly difficult idea. It’s just an extension of the hotel system.”

 

“That kind of paradigm shift is what’s difficult. Anyway, thanks to you, residential buildings can now generate profits too, right?”

 

The shared accommodation platform hadn’t been launched yet.

 

But with the precedent of shared offices, high profits were expected.

 

“At the very least, we should be able to cover the maintenance costs.”

 

“That’s all we need. That means no matter how much real estate we buy, we can handle it all.”

 

“Are you planning to purchase additional real estate?”

 

“This time I’m going to buy up a proper amount. How long will it take to expand our scale if we buy buildings one at a time? We need to buy boldly all at once.”

 

The Chairman was completely absorbed in the joy of spending money.

 

If collecting dolls is fun, how much more enjoyable would collecting buildings be?

 

“Is there a place that holds such large-scale inventory?”

 

“Of course there is. Korea isn’t the only place with conglomerates. America also has various types of conglomerates, including real estate conglomerates.”

 

We arrived at the hotel before the conversation ended.

 

But the hotel’s exterior looked incredibly familiar.

 

“Was a movie filmed here by any chance?”

 

“Does it look like you’ve seen it before? This is the filming location for a very famous Christmas movie.”

 

I looked at the hotel again.

 

The hotel sign had [Plaza Hotel] written in large letters.

 

Only then did I remember where I had seen this hotel.

 

“This is the hotel that appeared in that movie about a kid left home alone.”

 

“That’s right. And I have an appointment today with someone who appeared in that movie.”

 

Someone who appeared in the movie?

 

Does a director or actor own real estate?

 

With that thought, I entered the hotel with the Chairman, and an enormously large man was waiting for us.

 

“Chairman Robertson, good to see you!”

 

“President Trump! It’s been quite a while.”

 

Tall stature with bright yellow hair.

 

I racked my brain trying to remember where I had seen him.

 

He was the person who gave directions to the main character in the movie.

 

“Thank you for coming such a long way.”

 

“How can you say that when it’s only a few minutes from Tiger Headquarters to here? Oh! And next to me is Deputy Manager Lee Jung-hoo who leads Tiger Fund. Feel free to call him Mister Lee or Deputy Manager.”

 

Through the Chairman’s introduction, I shook hands with President Trump.

 

But whether he intended to assert dominance or had some other meaning, President Trump squeezed my hand with all his strength.

 

“It’s an honor to meet you. Please feel free to call me Mister Lee.”

 

“Heh heh heh, you’re like a machine rather than a person. Anyone in business should know how to maintain a poker face.”

 

I forced a smile and greeted him.

 

Seeming pleased with my reaction, President Trump gradually loosened his grip and smiled.

 

“How long are you going to keep an old man standing like this?”

 

“We’ll escort you inside right away.”

 

We moved to the hotel conference room.

 

We naturally sat facing President Trump, and the Chairman immediately got to the point.

 

“I heard real estate has been quite difficult lately. Hotels aren’t what they used to be either?”

 

“That’s why I contacted you, Chairman. There are rumors going around that Tiger Fund is sweeping up real estate in America these days.”

 

“If there are good properties available, there’s no reason not to buy them.”

 

“I’m planning to sell various real estate properties.”

 

President Trump took out related materials.

 

I looked through the materials for over 10 buildings and various real estate properties.

 

Then a gear structure related to Trump Group came to mind.

 

Screech.

 

Discordant sounds coming from everywhere.

 

Whether rusted or with broken teeth, the gears weren’t turning properly.

 

Hotels that weren’t profitable, offices with high vacancy rates, buildings with lease contracts about to expire.

 

It was the typical structure of a real estate company on the verge of bankruptcy.

 

“Hmm, the situation isn’t very good for any of them.”

 

“These are properties I’m reluctant to let go of. If it weren’t for the funding shortage, I would never put these items on the market.”

 

“The price is ultimately determined by the buyer. No matter how good the property is, if there’s no one to buy it, you have to sell it at a bargain price – isn’t that how the world works?”

 

The Chairman pressed Trump hard.

 

The desperate party wasn’t us, but Trump.

 

Naturally, we could hold the initiative in negotiations, and Trump had no choice but to be led by us.

 

“Still, I want to sell at the best possible price.”

 

“What do you think, Deputy Manager?”

 

“I would like to purchase all of them – the offices, condos, and hotels.”

 

I took Trump’s side rather than the Chairman’s.

 

It was partly because the real estate properties for sale had high value, but that wasn’t the only reason.

 

“Mister Lee, was it? You have a very good eye for buildings. These are properties you could never buy at this price except now. But to buy all those properties, you’d need to pay 1.5 billion dollars.”

 

“I’ll buy all the properties for 1.2 billion dollars.”

 

“I didn’t take you for that kind of person, but cutting 300 million dollars is too excessive!”

 

Trump’s face reddened as he raised his voice.

 

But the 300 million dollar discount wasn’t excessive at all.

 

I intended to provide benefits greater than the discounted amount.

 

“Instead, there’s another condition. I’ll turn the losses of the offices and hotels owned by Trump Corporation into profits.”

 

“Is that possible?”

 

“I can even specify it in the contract. And if I fail, I’ll give you an additional 100 million dollars. Of course, I won’t fail.”

 

If he received the 100 million dollars, it would amount to selling the properties for a total of 1.3 billion dollars.

 

Whether 1.3 billion dollars was his desired price, Trump calmed his anger and continued speaking.

 

“But is improving profitability really possible?”

 

“It’s definitely possible. Of course, there’s a condition that you must accept the system we create.”

 

“If profitability can be improved, there’s nothing I can’t accept.”

 

He was clearly experiencing severe financial difficulties.

 

Even from the brief look at the materials, office vacancy rates exceeded 40%, and some hotels had occupancy rates below 50%.

 

“Whether you receive 1.2 billion dollars now or 1.3 billion dollars doesn’t make much difference. But if we can improve the profit structure itself to be sound, it will be a much greater benefit in the long term.”

 

“You’re stating the obvious. If we can escape the deficit structure, what would be the problem?”

 

“Then trust me and leave it to me. I’ll make Trump Corporation profitable.”

 

Trump turned his head to look at the Chairman.

 

“Can I really trust this person’s words?”

 

“I’ll guarantee it. He’s the one who saved Tiger Fund, so there’s no reason he can’t save Trump Corporation.”

 

“Phew, fine. I’ll accept all the conditions. If you can turn the company profitable, I’ll definitely repay this favor. But if you can’t keep your promise, you’d better be prepared.”

 

I shook hands with Trump again.

 

But this time there was no strength in his grip, and he held my hand very warmly.

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