New Employees With an Annual Salary of 1 Trillion Won - Chapter 61

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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 61. Expansion (1)

 

After assigning tasks to Nexpin and Rollbook respectively.

 

I headed to the Fund Office as usual.

 

Even though I had returned from a business trip to the United States, I had decided to continue English Lessons with the General Manager.

 

“Song Sang-yeon is here?”

 

“The title Song Sang-yeon feels awkward no matter how many times I hear it. Could you just comfortably call me Employee Lee instead?”

 

“Should we do that? Employee Lee does feel more natural to me too. Now, if you have anything to discuss before English Lessons, please go ahead first.”

 

The General Manager immediately noticed that I had a lot to say.

 

Well, it was impossible not to notice since I had come in carrying an enormous amount of Reports.

 

“I think we need to deal with music copyright issues related to Rollbook a bit more.”

 

“Don’t we already have a contract with the Music Copyright Association? I suppose we need a new type of license?”

 

“We need two types of license contracts. One is a comprehensive contract that allows broadcasting all songs on Internet Radio, and the other is a separate contract for Digital Music File downloads.”

 

The General Manager read through the Report with apparent interest.

 

He even drew underlines while carefully checking the Internet Radio section.

 

He also showed great interest in the Digital Music File client and download service.

 

“You’re trying to strengthen the music side?”

 

“Right now, there’s no Content as powerful as music. Of course, later Technology will advance further and we’ll be able to provide video Content too, but at this point, music is the best option.”

 

“It would serve well as a stepping stone before video Content.”

 

He hit the point in one go.

 

Though it was difficult right now, I was planning to attempt providing video Content in the near future.

 

“So I want to secure music Content first. To do that, we need to resolve copyright issues quickly.”

 

“It’s difficult for me to directly engage in Negotiation, but I can help as much as you want in building bridges. Internet Radio shouldn’t be a problem since we can just bring over the existing Radio contract structure.”

 

I wasn’t too worried about Internet Radio copyright issues either.

 

Because we just needed to conclude a comprehensive contract with the Copyright Association like existing Radio.

 

But in the case of Digital Music File downloads, since there was no precedent, I had to pioneer the path myself.

 

“I’ve confirmed the Internet Radio contract structure. But the download side lacked Materials, so there was nothing to reference.”

 

“That would be the case. It’s a completely different issue from streaming. For downloads, you need to negotiate not only with the Copyright Association, but also with the Record Producers Association and Performers Union.”

 

Streaming was simply the ‘act of letting people listen’ to music,

 

but downloading was the act of ‘copying and storing’ Digital Music Files.

 

So we absolutely had to contract with the Music Production Association that held reproduction and distribution rights.

 

We also had to sit at the negotiation table with the performers union that represents the rights of singers.

 

“In the end, we’ll need to sign contracts with all three places.”

 

“That’s right. Legally, all three are independent rights holders. Still, practically speaking, the Copyright Association has the most negotiating power. If their reaction is positive, persuading the other organizations will become much easier. Of course, we’ll need to prepare convincing conditions for them as well.”

 

There was only one way to proceed with negotiations most effectively.

 

Gathering the three organizations in one place and proceeding with simultaneous contracts.

 

“We should go with the Simultaneous Contract Method. Meeting all three organizations at once to coordinate conditions seems like it would be fastest.”

 

“It’s the fastest way to conclude contracts, but it could become a 1-versus-3 fight. Would that still be okay?”

 

“This method seems best for coordinating conditions.”

 

“Arranging the meeting isn’t difficult. We could even do it this week.”

 

“We need preparation time, so please arrange it for next week.”

 

The General Manager had easily resolved situations like this even when he was Branch Manager.

 

Now that he had even been promoted, arranging a meeting would really be nothing at all.

 

“And this is a personal matter, but would it be okay to consult with you?”

 

“If it’s about Employee Lee, you’re always welcome. What is it?”

 

“I’m planning to move, as you mentioned before.”

 

“Good thinking. As Tiger Fund’s Deputy Branch Manager, you need to maintain at least a minimum level of dignity.”

 

It wasn’t a move for the sake of dignity.

 

I could no longer bear to watch my family members endure discomfort in our cramped home.

 

I also wanted to spend part of the money I’d earned on my family.

 

Most importantly.

 

An enormous amount of baseball equipment boxes were piled up in my room.

 

Just to avoid seeing that sight, I had to move as soon as possible.

 

“I’m looking for a new apartment around 45 pyeong. But I explained to my family that it’s a welfare benefit provided by the company.”

 

“You did well. It’s better not to reveal your bank account to your family either.”

 

“The ownership is also a problem. If I buy a house under my name, there’s no way to explain it to my family.”

 

“That’s simple. Tiger Fund can purchase the apartment under its name, and we’ll include a clause in the contract stating that it will be sold to Employee Lee later at the original purchase price.”

 

“I’ll use my own account for the apartment purchase costs.”

 

Did I state something too obvious?

 

The Branch Manager continued speaking with a playful expression.

 

“You have over 200 billion in your account, but you weren’t hoping the company would buy you an apartment too, were you?”

 

“Absolutely not. I was naturally planning to buy it with my own money.”

 

“I’m joking. And if Employee Lee wants, we really could provide an apartment as a welfare benefit. Our fund provides not only apartments but even vacation homes to key executives.”

 

The General Manager’s expression was sincere.

 

What kind of place was Wall Street that offering a villa came up so easily in conversation?

 

Even after visiting Tiger Fund Headquarters, it was still difficult to accept Wall Street.

 

“That kind of benefit would be fine.”

 

“Well, buying with your own money is best. But due to the IMF aftermath, there aren’t many new apartments. It doesn’t have to be an apartment, right? There are quite a few decent luxury villas too.”

 

“A villa would be fine too. As long as I can move in quickly, anywhere is good.”

 

An apartment would be better than a villa though.

 

I had been living in an old villa from childhood until now.

 

That’s why I had hoped for a new apartment, but still, a new villa over 40 pyeong wouldn’t be bad.

 

“Then I’ll prepare everything so you can move in by next week. Any other requests?”

 

“I’m thinking of starting a family business. Nothing big, just want to set up a shop where my father can work as a pastime.”

 

“You mentioned he runs a restaurant, right?”

 

“He runs a small chicken restaurant. I’d like him to just rest, but he insists he must work.”

 

The General Manager empathized strongly.

 

He even sighed, as if he had the same concerns before.

 

“Korean people strangely treat resting like a sin. They seem restless if they don’t have something to do.”

 

“Exactly. So I’m trying to switch to a business type that’s a bit more comfortable. But to convince my father, it needs to be a business type and location that generates better sales than now.”

 

“Do you have a business type in mind?”

 

I had already organized my thoughts and even prepared a report.

 

“A takeout coffee specialty shop. Korean people’s love for coffee is exceptional, isn’t it? There’s no need to handle oil like with chicken, and no oil splashing, so cleaning is much simpler.”

 

“Oh, that’s a good choice. If you get into a commercial area with lots of office workers, sales could be even better than chicken. Plus, coffee beans have very low costs, so net profit would be higher too.”

 

“I’ve organized the cost-related information as well.”

 

The price of coffee sold at cafes was roughly 2-3 thousand won.

 

But the cost of coffee beans per cup was at most less than 100 won.

 

And even adding cups, lids, syrup, additional ingredients, water, and electricity costs, the total cost would be sufficient at 200-300 won.

 

Even adding rent and labor costs, about 500 won total.

 

Of course, rent would vary by region, but I could control that by acquiring the shop myself.

 

By setting the rental fee to the minimum level, I could set prices without major variables.

 

“The basic menu americano is 1,500 won. That’s definitely cheaper than other places.”

 

“These days, there are many cafes promoting premium coffee. I want to do the opposite – create a low-cost coffee specialty shop that anyone can enjoy without burden.”

 

“Starbucks entered last year, right? I heard an americano costs 4,000 won there. At less than half that price, it would definitely be competitive.”

 

Having lived in the United States for a long time, he brought up Starbucks with a wistful expression.

 

It was the most talked-about coffee shop in Seoul these days, and the media was introducing it daily.

 

But the direction I wanted was different.

 

Father would obviously find large and bustling stores burdensome, but he wouldn’t want a shop with low sales either.

 

That’s why I chose a low-cost coffee shop.

 

Of course, there were disadvantages. To make sales, you’d have to sell that much more.

 

“I’m planning to use a high-volume, low-margin strategy.”

 

“Then, wouldn’t it be hard on Father? You’d have to sell at least 300 glasses a day.”

 

“That’s why I’m trying to develop an automated coffee machine. Most machines out there now are semi-automatic, but even if not fully automatic, we can simplify the process as much as possible.”

 

Italian-made espresso machines that many cafes use.

 

The taste was excellent, but the coffee extraction process was complex and the amount that could be extracted was small.

 

To improve that point, I had made blueprints and even finished preparing a patent draft.

 

“You can extract an Americano with just one button? You couldn’t have had much time, when did you make all this?”

 

“I made it bit by bit whenever I had spare time. With this method, you can make not only Americanos but even lattes with just one button press.”

 

“For low-cost coffee, even average-level taste would be competitive enough. But where are you thinking of sourcing the coffee beans?”

 

It was a question I hadn’t thought of.

 

I was just thinking of using coffee beans distributed in the market.

 

“Wouldn’t it be fine to just buy the coffee beans that are commonly used?”

 

“That way you can’t differentiate. If you directly import from countries famous for coffee like Ethiopia or Colombia, clients will be more interested.”

 

“That seems like a strategy that doesn’t fit with a low-cost coffee shop. Doesn’t direct import make it more expensive?”

 

“It could actually become cheaper. If you can reduce intermediate distribution margins and create distinctive blending, you can have both price and competitiveness.”

 

I had heard several times that direct import was cheaper.

 

When buying electronics from overseas, you could save hundreds of thousands of won.

 

But wouldn’t coffee beans be different? In the case of coffee beans, distributors ultimately import in large quantities, so we’d inevitably lose in price competitiveness.

 

“Is it possible to import coffee beans cheaper than distributors?”

 

“It’s definitely possible. Large distributors have brand margins and stability costs attached. But if you directly source and import coffee beans, and even do roasting domestically, you can operate much more cheaply.”

 

“But I understand that the procedures and certifications for direct import are complex.”

 

There were reasons why people didn’t do it.

 

If the process and procedures were easy, everyone would have done direct import.

 

But for individual cafes to directly import coffee beans, there were more than just one or two points to consider, so they had to receive and use coffee beans from large distributors.

 

“Of course, we should handle that process at the fund level. We’ll also look into small but high-quality farms on our end.”

 

“I’m sorry for making such a troublesome request.”

 

“Of course I won’t be doing it myself. Among our fund employees, we have staff from trading companies and lawyers too. Honestly, this level of work doesn’t even qualify as troublesome.”

 

When I talked with the General Manager, everything flowed smoothly.

 

He took care of aspects I hadn’t even thought of, so I could only be grateful.

 

“Thank you so much. Now that the coffee beans issue is resolved, we just need to select a good location.”

 

“Do you have a place in mind?”

 

“I’ve decided on Yeouido. There’s a large floating population of office workers, and the takeout culture is well established there.”

 

“There really is no place like Yeouido. But I’m a bit worried that everyone might just make instant coffee mix instead of buying coffee to drink.”

 

The Branch Manager hit the key point.

 

The biggest competitor for low-cost coffee wasn’t other cafes, but instant coffee mix.

 

We had to overcome that to survive, and we needed a differentiating factor.

 

“Instant coffee mix clearly has its limitations. And the company atmosphere has changed a lot since the IMF crisis. In the past, some companies even hired employees whose sole job was making coffee, but now they only keep absolutely essential personnel.”

 

“That’s true, our office also got a new instant coffee mix vending machine.”

 

“No matter how much vending machine coffee has improved, I judged it still can’t match coffee shop coffee.”

 

“You’ve thought about this a lot. Let’s proceed that way.”

 

Of course, this alone wasn’t enough.

 

We needed a more definitive advantage, and I had thought of that separately.

 

“And I’m thinking of also providing delivery service through Rollbook. If we place ads in the company communities located in Yeouido, wouldn’t that increase the promotional effect?”

 

“That way we’d establish ourselves quickly. But no matter how I think about it, won’t Employee Lee’s father be too overwhelmed? Even with an automatic coffee machine, he’ll be very busy.”

 

“Still, would people really drink that much coffee at 1,500 won per cup?”

 

Moderate sales was the goal.

 

A level that was neither too busy nor too slow would be sufficient.

 

“It would be good if it does well. I’ll personally promote it in the financial district. When there are meetings or conferences, if I always buy coffee from Employee Lee’s father’s shop, wouldn’t that help even a little?”

 

“You don’t need to go that far… Thank you.”

 

“We should look into first-floor commercial spaces in Yeouido. If we get a unit on the first floor of a reconstructed commercial building, 300-500 million won should be enough.”

 

“I’ll handle the purchase costs from my account.”

 

I had to say obvious things once more each time.

 

The General Manager was the type of person who would lend out the first floor of a fund-owned building for free.

 

“Do that. It won’t be withdrawn directly from your account. We’ll proceed in the form of a loan, and we’ll also write up a contract so you can transfer the title to Employee Lee’s name at the time you want.”

 

“I’m sorry for constantly being indebted to you.”

 

“Do you think I’d extend this kind of favor to just anyone? In the financial world, favors are possible because that person has value. So just continue doing well as you are now. First, we need to handle the copyright negotiations properly.”

 

Such kindness was possible because I had value to them.

 

I had to prove my abilities every time, starting with resolving copyright issues.

 

Annual Salary 1 Trillion New Employee Chapter 61

 

E-book Publication Date | 2025.11.27

 

Author | Seo Oh

 

Publishers | Heo Heung-beom, Park Geon-won

 

Published by | Poten

 

Address | [04783] 10th Floor, 8 Yeonmujang 11-gil, Seongdong-gu, Seoul

 

Phone | 02-6320-8500

 

Fax | 02-6320-8585

 

ISBN | 9791175305892

 

Price | 100 won

 

ⓒ Seo Oh 2025

 

This e-book is a copyrighted work protected by copyright law.

 

This e-book is published under the author’s contract, and unauthorized reproduction, copying, distribution, and sharing are prohibited without written consent from both parties.

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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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