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CH43 | VOC
🕑 Added 2025-02-16 04:30:02 +0000 UTCAs December 1996 approached, Korea's bleak economic outlook became increasingly apparent.
Outwardly, the country celebrated its entry into the OECD((Organisation for Economic Co-operation and Development)), a "club for rich nations," as a sign of its ascent to developed nation status. However, internally, cracks were beginning to show.
Starting with the bankruptcy of Woosung Construction earlier that year, major construction companies that had led Korea's economic growth were crumbling one after another. The current account deficit reached 20 billion US dollars due to sluggish exports caused by the US interest rate hike.
Many companies that had been operating recklessly with excessive borrowing faced a crisis as their export performance worsened and the value of the Korean won continued to decline. Foreign investors began withdrawing their funds, creating a sense of urgency.
Moreover, with the economic outlook for the following year looking grim, a sense of impending crisis loomed over the nation.
But Chunha Trading was different.
"Yes, what company are you calling from?"
[This is Sarang Resources in South Gyeongsang Province. A shoe factory went bankrupt, and I can't handle the volume alone, so I'm calling you.]
"How much is it?"
[About 50,000 pairs. What kind of price can you offer?]
"What's the condition?"
[They're brand new.]
I thought for a moment and said,
"Instead of transferring money back and forth, how about we send our employees, and if the deal goes through, you can keep 10% of the price as your commission?"
[Oh, really?]
He was delighted with the offer of a 10% commission just for referring the deal.
[Then should I introduce you to other companies? With the economy being so bad, bankruptcies are becoming common. I have some goods I bought from a bankrupt company recently, but I'm short on funds and can't move them. I don't want to lose them to other junkyards, so I'd appreciate the referral fee.]
"Of course, we're always open to new opportunities."
I ended the call and said to Maru,
"Call the South Gyeongsang Province branch and tell them to send someone to Sarang Resources."
Maru grimaced.
"Again? All the branch staff are out on sales calls. We don't have anyone available."
"Then send someone from another branch."
"The other branches are in the same situation."
"Ugh."
The number of bankruptcies had been steadily increasing since November, and by December, dozens of small and medium-sized enterprises were collapsing every day.
After Samick Musical Instruments went bankrupt recently, we bought a large quantity of piano parts at a bargain price from their struggling suppliers.
Our secondhand goods sales were skyrocketing due to the rising exchange rate and the increase in bankruptcies, but I couldn't shake off a sense of unease.
"Is our country really okay?"
While ordinary people were only vaguely aware of the economic crisis, mostly concerned because of the news reports, I, as someone dealing with secondhand goods and raw materials at the bottom of the economic ladder, could feel the situation firsthand.
At first, I was just happy to be making a lot of money. But as the numbers grew exponentially, I started to worry.
Maru said in a worried voice,
"I know, right? It feels like the country is about to collapse."
"We'll be okay, right? Those bankrupt companies are drowning in debt."
"We should be okay. We don't have any debt."
In the junkyard industry, transactions were always done in cash, regardless of whether invoices were issued, so very few junkyards had debt.
Chunha Trading also had no debt, all our assets were in cash, which was reassuring, but I couldn't help but worry.
"Let's not sell the gold for now and just keep accumulating it. We're not short on cash, and we need to have a safety net."
The research lab was producing gold bars using the technology they called "gold stripping."
I had initially planned to sell them once we had accumulated a certain amount, but with the current situation looking so precarious, I decided it was best to keep them as a backup.
"Yeah, I agree."
"Anyway, it feels like something big is about to happen, so let's make as much money as we can while we still can."
"Should we buy some US dollars? The exchange rate is rising."
I shook my head at Maru's suggestion.
"There's a limit to how much an individual can buy. We're not a financial institution. Let's just keep the payments we receive from China and Japan in our local accounts. Don't exchange them unless it's an emergency."
"Okay, I'll tell them to do that."
***
We often found unexpected items while processing secondhand goods.
Hidden in the crevices of appliances or in the pockets of clothes were various trinkets that the original owners had forgotten to remove.
There was an unspoken rule that the employees who found such items could keep them unless they were of significant value. And what the employees loved most was, of course, money.
"Jackpot! I found 30,000 won!"
"Wow, you're lucky, Kim. Didn't you find 10,000 won yesterday too?"
We could have confiscated the money, arguing that it belonged to the company since we had paid for the goods, but there was no way to know if the employees were colluding and keeping it a secret. So we decided to let them keep it as an incentive, and it seemed to boost their productivity.
They worked twice as fast, eager to find more hidden treasures before others could snatch them.
"Hehehe, I'm on a lucky streak. I've already found over 100,000 won this month."
Mr. Kim pocketed the money with a happy smile.
"My secret stash is growing nicely. I've already saved 300,000 won without my wife knowing."
"Really? That's awesome. I spend all the money I earn, so I don't have any savings."
Mr. Kim clicked his tongue at the envious employee.
"You need to save for the future. An emergency fund is for emergencies."
"Easy for you to say."
The employees burst into laughter, and Mr. Kim moved on to the next item.
"Let's see, it's a video cassette."
He checked the inside of the cassette and exclaimed excitedly,
"Wow, jackpot! There's a video inside."
"Really? What's with your luck today, Kim?"
After money, what the employees loved most was pornography.
At the time, they had to go to Cheonggyecheon or Yongsan to buy illegal pornographic videos, so any porn found in secondhand goods was a welcome treasure.
And since all the production workers, except for the two female office staff, were men, there was no need to be discreet.
"There's no label. Is it really porn?"
"Just put it aside. We'll check it after lunch."
"Okay."
I was taking a walk around the company after lunch.
"Whoa, she's beautiful! This is amazing!"
"I know, right? This is the best one we've ever found."
I was curious about the commotion coming from the employee lounge and headed there.
Dozens of employees were huddled around a TV, cheering and whooping.
A pornographic video was playing on the TV. They must have found another one in the secondhand goods, I thought.
I was a healthy 27-year-old man with a healthy interest in such things, but I couldn't join them and watch it together. I had to maintain my dignity as the CEO. As I was about to leave, the woman in the video caught my eye.
"Wow, she's gorgeous."
The woman in the video was stunningly beautiful.
She had ample breasts, a slender waist, a delicate jawline, and long eyelashes. The video quality wasn't great, as it seemed to be amateur footage, but it couldn't hide her beauty.
My involuntary exclamation made the employees turn around and notice me.
"Sir!"
They panicked and tried to turn off the video, but I said,
"It's okay. It's not work hours, so you're free to do whatever you want. You can continue watching."
They were still flustered and hesitant, so I said firmly,
"It's okay. You're free to do whatever you want during your break, as long as it doesn't interfere with your work."
They eventually resumed watching the video, but they couldn't fully concentrate with the CEO standing behind them.
However, they were soon engrossed in the high quality of the video.
I was also captivated, but then the woman's face struck me as familiar.
"Who is she? I've seen her somewhere before."
One of the employees, after a moment of thought, clapped his hands and said,
"Lee So-hyang! Doesn't she look like Lee So-hyang?"
The other employees exclaimed in agreement.
"She does! She's a dead ringer for Lee So-hyang!"
Lee So-hyang was a sexy star who had risen to fame this year through a popular drama.
And the woman in the video looked so much like her that I could have believed it was her.
The video progressed towards its climax, featuring various positions and driving everyone into a frenzy. But then the camera seemed to flip, the perspective changed, and the man's face appeared before the video abruptly ended.
"Aw!"
Everyone groaned in disappointment, as if they had been interrupted at the best part.
"It was getting good! What the hell? Is there more?"
An employee hurriedly rewound the tape, but that was the end of the video.
I was also disappointed, but then I glanced at my watch and realized that lunch break was almost over.
"Alright, everyone, it's time to get back to work. Put everything away and get back to your stations."
As the employees cleaned up and left, I approached Mr. Kim, who was removing the videotape from the VCR.
"Mr. Kim, did you find that?"
Mr. Kim flinched and said,
"Yes? Yes, I found it this morning."
My eyes sparkled.
"How about selling it to me?"
"Lalala. This is great. Where else could I find such a good porn video?"
I gave Mr. Kim 10,000 won and practically snatched the video from him.
Rare porn videos featuring such beautiful women were highly sought after and had collector's value.
I entered the office, humming to myself, and Maru asked,
"Why are you so happy?"
"What do you mean? I got my hands on something good today."
I waved the videotape in my hand, and Maru's eyes lit up.
"Is it that?"
"It is."
"Is she pretty?"
"Very. She looks like Lee So-hyang."
Maru exclaimed excitedly,
"Lee So-hyang? I'm a huge fan of hers!"
"She's amazing. Her body, her face… Wow!"
Maru snorted.
"Can I borrow it? I'll return it tomorrow."
"Wait, I have to watch it first. I'm going to relax in my room and watch it after work."
"That's not fair. You've already seen it."
"I only saw the second half. There's a hierarchy even in cold water."
And so, we bickered over the video, and time flew by.
