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CH37 | VOC
🕑 Added 2025-02-11 12:14:48 +0000 UTC"It's been a while, CEO Wu."
"It's been a while. Hahaha."
CEO Wu's Korean was improving day by day.
"You've been hard to reach lately. Did everything go well in China?"
CEO Wu used to stay in Korea to deal with secondhand traders, but after we started doing business, he found it unnecessary to stay in Korea, as everything was running smoothly. He started spending more time in China.
"Yes, everything went well. Thank you, CEO Park."
"Is everything okay in China?"
CEO Wu spoke to Manager Cheon in Chinese.
He was still not fluent in Korean, so Manager Cheon's interpretation was necessary for long or complex sentences.
"Business in China is booming. He says they can't sell secondhand goods fast enough, so the prices are expected to rise soon."
"Oh, that's good news. Sounds like you're making a good profit."
Of course, I would reflect the price increases on the price list very slowly, while any price drops would be reflected immediately.
It was basic business sense.
"He was just saying he has something to discuss with you, and it's a good thing you're here."
"He has something to discuss? What is it?"
"He's planning to move back to China permanently."
"What? Is he quitting the secondhand goods business?"
CEO Wu shook his head.
"No, it's not that. He used to stay here because he had to deal with each secondhand trader individually. But now that he can get enough supply from you alone, he wants to expand his business in China through other channels."
"Ah, I see. So Manager Cheon will be in charge here?"
"He's suggesting that you directly export to China instead."
"Direct export?"
"He says it's no different from what we're doing now. Instead of him buying the goods in Korea, he'll buy them in China."
"I see."
"We've been doing business with you for over a year and a half now. There haven't been any problems, and we trust you completely. We'll receive the goods in China. If you export directly to China, we'll pay you the full price before shipment. Of course, we'll adjust the price to cover the export costs."
It seemed like a big decision for CEO Wu.
Buying and inspecting the goods in person in Korea was the safest way to do business.
In the secondhand goods industry, it was common sense not to sell without receiving payment first.
So upfront payment was mandatory, and this was a deal that couldn't happen without trust.
"I see. You trust me that much?"
CEO Wu laughed heartily and said in his broken Korean,
"CEO Park, only one I trust."
"You're making me blush."
Manager Cheon continued interpreting.
"He says you're the only honest trader he's met in Korea. Other traders would mix bulky, low-value blankets with used clothes or sneak in a few discarded appliances with secondhand goods, but you've never done that. He trusts you."
"Thank you for your kind words."
I felt embarrassed by the unexpected praise.
It was basic business ethics to deliver the agreed-upon quantity and quality, but the secondhand goods industry was filled with dishonest traders who didn't even follow that basic principle.
In that sense, I was considered very honest, at least in this area.
"So what are your plans in China?"
"He says he wants to directly enter the domestic market in China. Currently, he buys the goods from you in Korea, ships them to his warehouse in China, and then sells them to domestic traders. But if he enters the market directly, it eliminates two steps, increasing his profit margin. And he'll be able to target other countries besides Korea."
"I see. Higher profit margins are always welcome."
Nothing would change for me.
It just meant more export work, which I could delegate to the employees handling the deliveries to the Japanese smelter.
It was a simple matter of receiving money and shipping goods.
CEO Wu was expanding his business based on our trust, and since it didn't cost me anything, I was happy to support him.
"The ultimate expression of trust among secondhand traders is, 'I'll sell to you at the same price if someone else offers more,' right? CEO Wu, if another trader offers me a better price, you'll match it, right?"
CEO Wu nodded vigorously.
"Of course. But that won't happen. He says he'll always offer you the best price."
"Hahaha, that's great. I wish you all the best in your business."
After our pleasant conversation, I placed the VCR I had brought on the table.
"Is that a VCR?"
"Yes, I recently acquired it, but it's in too good condition to be sold as a regular secondhand item."
The VCR, after being thoroughly cleaned, looked brand new.
"I brought it as a sample to get a price estimate in China."
"It's an MG Electronics VCR. What's the model number?"
"I don't know."
CEO Wu examined the VCR closely, tilting his head. He then spoke to Manager Cheon in Chinese.
"He says he's seen a lot of secondhand VCRs over the years, but he's never seen this model before."
"Really? Even CEO Wu doesn't recognize it?"
If CEO Wu, who had been in the secondhand business much longer than me, didn't recognize it, it must be a very old model.
"Then can you take this as a sample and try selling it? And let me know the price."
"How many units do you have?"
"I think we have over 1,000 units of the same model."
CEO Wu replied,
"Alright. I'll do it for you, CEO Park."
"Hehehe, thank you. I appreciate it."
I stood up, shook hands with CEO Wu, and wished him luck in his business.
At that time, I thought I was doing CEO Wu a favor by letting him expand his business in China.
It meant more work for me and only a slight increase in my profit margin, while CEO Wu was attempting a major expansion.
But I never imagined that this would be a stroke of genius.
The secondhand market in Cheonggyecheon was bustling.
Countless people and merchants were buying and selling goods, creating a vibrant market.
"So this is the heart of the domestic market, the one that's out of our reach."
Even with our near-monopoly of 90% of the market, the remaining 10% was enough to create such a lively market. It made me realize the sheer volume of secondhand goods I was handling.
It wasn't just merchants selling goods here. There were many ordinary people spreading out blankets and selling their used items.
"This spot looks good."
I spread out a blanket, laid out the VCRs, and placed a piece of paper with the price written on it on top.
"Would it sell for 300,000 won?"
As I started my makeshift business, I remembered the time I sold computers in Yongsan Electronics Market with a sign.
"Those were the days. It was actually fun working then."
It had only been a year, but I felt like a completely different person.
My staff had increased a hundredfold, my assets a hundredfold. Everything had increased by at least a hundredfold.
I shouldn't be selling goods like this on the street now, but I couldn't bring myself to delegate this task. I wanted to experience the thrill of working firsthand again.
"Time to attract some customers. Come on, come on, video cassettes for only 300,000 won! Practically new video cassettes for sale!"
Passersby glanced at me with interest, but most of them just walked by.
VCRs were expensive items, so ordinary people usually thought long and hard before buying one. I didn't expect to sell them easily.
After shouting for a while, a man approached me.
"What brand is it?"
"It's MG Electronics. Take a look."
"When was it released?"
If I knew that, I wouldn't be here.
"I don't know the exact date, but as you can see, it's practically new."
"I've never seen this model before. Is it old? But 300,000 won is too expensive, isn't it?"
"No way."
"I can buy a brand new one for that price. Good luck."
The man left after just a brief inquiry.
"Is it too expensive? Should I lower the price?"
I took out a new piece of paper and wrote down "200,000 won."
We had salvaged about 1,400 units, considering a 70% repair rate, so even at 200,000 won each, we would make a profit.
As I waited, another man approached me.
"Is it an MG?"
"Yes, are you interested in buying one?"
"200,000 won is expensive for a secondhand item. Can I test it?"
"Well, I don't have a way to test it here… But as you can see, it's practically new. How about buying one?"
"Good luck selling!"
He left as well.
"Damn it, I'll lose money if I go any lower."
I stuck to the 200,000 won price, but everyone just looked and left. I reluctantly wrote down "150,000 won."
"150,000 won is barely breaking even. I trusted my intuition too much."
I sighed and waited, and another man approached me.
"Is that a VCR? Does it work?"
"Of course, I checked them all."
"Hmm, 150,000 won… It looks to be in good condition."
"It's practically new."
The man hesitated for a long time and then said,
"Can you give me a discount? I'll buy it for 100,000 won."
A vein popped on my forehead, but I suppressed my anger and said,
"150,000 won is my rock-bottom price. I'm not making any profit."
"I'm not making any profit" was the most common lie told by salespeople, and I never thought I would be saying it myself.
"Come on, give me a discount. I'll pay 120,000 won."
I bit my lip and said,
"140,000 won."
"130,000 won."
"Ugh, 135,000 won."
"Deal."
The man immediately took out cash from his wallet.
"Here's 135,000 won. Count it."
"I'm sure it's correct. Thank you."
I didn't even bother counting it.
I had lost my motivation, thinking that I would lose money on this deal.
"Good luck selling!"
"Sigh, I guess I'll just cut my losses and sell them cheaply."
I sighed and looked up, and another man was standing behind the man who had just bought the VCR.
"Welcome. Are you interested in a VCR?"
But there was something strange about the man's face.
His mouth was agape, his pupils were dilated, and his face was pale.
"Sir, are you okay?"
"D-d-did that man just buy one?"
"Yes? What about it?"
"I'll buy everything you have. Please don't sell them to anyone else. I'm begging you."
His desperate plea bewildered me.
"Well, I'm willing to wait if you're going to buy them all, but are you sure you're okay? You look unwell."
"J-just wait a moment."
The man ran after the man who had bought the VCR at an incredible speed.
After a long argument, he returned with the VCR, having paid the man to buy it back.
"Did you sell any others?" he asked, still pale.
"No, that was the first one I sold today."
The man sighed in relief.
"Phew… That's a relief. But sir, can you tell me where you got these?"
"Why?"
"Please, I'm begging you. Just think of it as saving a life. Please tell me."
The man pleaded with clasped hands. I was curious why he was so desperate.
"What is it? Why are you so interested?"
"I can't tell you, it's a secret. But please, I beg you."
The man bowed deeply.
This was an unexpected situation. I hesitated, wondering if I should tell him.
"Will you buy more if I have more?"
"Of course."
"Even at 300,000 won?"
"I'll buy them."
"What about 500,000 won?"
"Of course."
"1 million won?"
"…You're not kidding, are you?"
I laughed and shook my head.
"Why would I kid? I'm a businessman. I brought these here as a test to see the market price. Since you're willing to buy, I'm just trying to figure out the price range. Would you buy them at 1 million won?"
"…How many do you have?"
"About 5,000?"
I exaggerated the number, and the man's face turned from pale to green.
"F-five thousand? How can you have that many…?"
I took out my business card and pressed it into his hand.
"I don't know who you are, but customers are always welcome. Come and visit us. We can talk while looking at the goods."
