An Investor Who Sees The Future

Mr. Seokbeom started speaking.

“Oh, Woosung Industries, right?”

“I’ve heard of it. They’re an auto engine parts company, right?”

“Yeah, they’re a first-tier supplier for Eunsung Motors.”

The company is listed on the KOSDAQ and is a mid-sized enterprise with about 700 employees.

Suddenly, I remembered an article I had seen recently.

“Aren’t they on strike over there?”

The article was about an illegal strike by Woosung Industries union causing concerns about disruptions in production at completed car factories. President Park Si-hyeong strongly criticized the workers for damaging the nation’s competitiveness through illegal strikes in a cabinet meeting.

Mr. Seokbeom nodded weakly.

“Y-yes. Jongsoo and I worked there.”

Mr. Seokbeom continued calmly.

“At first, I was happy to have transferred to a better company, but… it had its issues.”

Woosung Industries had been growing rapidly. To increase production, they either needed to hire more staff or expand facilities. Instead, they chose to run the factory 24/7 with the existing staff as it was much cheaper.

As night shifts continued, workers complained of fatigue, and six workers died from overwork in two years.

After negotiations between the union and management, they agreed to end night shifts and switch to two shifts during the day. However, even after the agreement, the company kept delaying the implementation and the night shifts continued.

Both sides continued negotiating but couldn’t reach a compromise.

Ultimately, the union demanded immediate implementation of the two-shift system and initiated a partial strike. Hours later, management used security guards to shut down the workplace.

The guards blocked union members from entering, leading the workers to occupy the factory in protest. Mr. Seokbeom and Jongsoo, both union members, joined in.

Strikes or factory occupations don’t symbolize a desire for death but a call for negotiation. However, Chairman Hong Woosung showed no intention of negotiating at all.

This marked the beginning of an extreme confrontation.

“At the company, they’ve been installing CCTV cameras under the guise of production site management for the past few months – not only in the workshop but also in the break room and even the changing rooms. Jongsoo and I covered the cameras with blankets and tape.”

The company pressed charges for obstructing business and property damage due to that action.

Taekgyu asked in confusion, “I understand about obstructing business, but we didn’t break any CCTV cameras or cause damage, so why property damage?”

“Well, the tape used to cover the CCTV got stuck, making it unusable, which is considered property damage.”

Although it was a ridiculous situation, the prosecution sentenced Jongsoo to 1 year and 6 months in prison for obstructing the CCTV and Seokbeom to 6 months for cutting and delivering the tape.

“Fortunately, they were acquitted in court.”

But it didn’t end there.

This time, the company raised an issue with paint spilled on the asphalt. During a protest, union members laid banners on the ground and wrote with paint. Because the paint got on the asphalt, it was deemed property damage.

“Is that true?”

If it weren’t for Seokbeom’s words, one might have thought it was a joke.

Surprisingly, this time as well, the prosecution sentenced each member who wrote on the ground to 1 year in prison.

“Early in the morning, a contractor’s vehicle rushed towards the union.”

Eight people present at the scene received bruises, three suffered broken bones. The contractor fled after hitting them.

Upon reporting to the police, the contractor surrendered within a day.

He claimed that he fell asleep in the car and, feeling threatened when the union members approached, he panicked and drove off, resulting in the accident.

The police accepted his statement, treating it as a traffic accident, not a hit-and-run. The prosecution decided not to detain him for the incident involving the injury of 11 people.

Further confrontations between the contract workers and the injured followed. After several physical clashes between the occupied union and the contractors, the union members were all eventually expelled after a week-long factory occupation.

“During the altercation, a fire extinguisher thrown by a contractor hit his head.”

The injuries were so severe that he could have died if hit slightly differently.

Seokbeom was immediately rushed to the hospital, where he underwent complex surgery to extract bone fragments and mend his skull. Thankfully, the surgery was successful, but he reportedly began to stutter and speak unclearly due to lingering effects from the incident.

I have lost my words.

At first, I thought I was being targeted by gangsters for using illegal loans. It would have been easier to understand if that were the case.

But now, to think this happened because of a confrontation with contract workers during the strike? It’s not even a military dictatorship era… Does this make any sense in 21st century South Korea?

“So, what happened? Did they catch the culprit?”

Seokbeom shook his head.

The police gave up investigating because all the contract workers were wearing masks and the area was filled with smoke from fire extinguishers, making it impossible to identify the culprits. In the video taken at the time, there were only three people holding fire extinguishers.

Although it wouldn’t have been difficult to call in the contract workers and identify who was holding the fire extinguisher to easily find the culprits, the police didn’t even do that simple task. They just repeated that if you want to press charges, you should identify the culprits yourself and bring evidence.

The police showed no intention of investigating the contract workers, but it was different when it came to the labor union.

They used even 3D facial recognition technology to analyze the faces behind the masks of the union members involved in the scuffle, and they handed over every single one to the prosecution for indictment. The prosecution, as expected, sentenced them all to one year in prison.

Taekgyu exclaimed in disbelief,

“Are they handing out one-year sentences for everything now? One year in prison is no joke.”

As the strike dragged on and the weather turned colder, the union members grew weary. The company brought in replacement workers to keep the factory running.

After two months of striking, the union declared a return to work. It was essentially surrendering. However, the company did not accept this.

Chairman Hong Woosung insisted that without union withdrawal, there would be no return to work, declaring his intent to completely neutralize the union this time.

The union members received summons from the police and prosecution, claiming losses due to illegal strikes, and the company initiated a lawsuit for damages.

“Th-then what about Jongsoo, sir…?”

Seokbeom stammered, “H-he hanged himself.”

“…….”

After the funeral, it is said that Seokbeom saw himself holding a press conference on TV. And again, more difficult times passed. In the mailbox, along with a fine notice, there were police summonses and prosecution summonses stuck inside.

The surgery expenses remained as debt, there was no money to pay the fines. There was no face to show to the family, no confidence to work again.

“I felt like I couldn’t go on any longer.”

So, he drove somewhere without a clear destination. After parking the car in a deserted place, he sealed the windows and vents with old clothes, lit a lighting charcoal, closed his eyes, and the faces of his family appeared. Then, the faces of the employees he used to work with, and finally his own face flashed before him.

“Before losing consciousness, I barely managed to open the car door and get out. And when morning broke, I came up to Seoul to meet you. Jongsoo, I’m sorry for coming alone and after you passed away.”

“… ”

Was that what coming to live meant?

Taekgyu asked me, looking into my eyes.

“Isn’t Woosung Corporation listed on the KOSDAQ or something? Why wasn’t this incident known?”

“The media didn’t report it.”

Countless things happen in the world every day. The media selects what could be news and reports it. No matter how big the incident, if the media turns a blind eye, it won’t be known to the public. Moreover, depending on how it’s conveyed, a deer can easily be turned into a horse.

“Why are the police and prosecution siding with Woosung Corporation so blatantly?”

“Oh, Hong Woosung, the chairman, is close to the police commissioner and uh, also friendly with the prosecutor.”

“… ”

Is it a form of regional loyalty?

It’s common for businesspeople who have been in a region for a long time to collude with public officials.

“Oh, and there’s Eunsung Cha behind it.”

I was taken aback.

“What does that mean?”

Mr. Seokbeom explained.

During the occupation of the factory, they found an envelope. The documents inside were shocking. It was a confidential meeting document of Woosung Corporation containing strike response measures.

Deployment of security guards, blocking the main gate, suspending commuter buses, shutting down workplaces, access control, distributing press releases, hiring replacement workers, and evidence collection of illegal actions by the union were included.

Before the strike, the company had contracted a consulting firm called Changju Consulting, and even ordered camcorders and voice recorders for evidence collection.

This indicated that the management had no intention of negotiating with the union from the beginning.

But that wasn’t the end of it. There were documents showing that Eunsung Cha, the head office, directly instructed and received reports on plans to destroy the union.

The union photographed all the documents and filed a complaint with the local labor authorities.

However, Chairman Hong Woosung dismissed the case due to insufficient evidence, and Eunsung Cha was not investigated claiming no direct involvement.

Taekgyu said in disbelief, “Eunsung Cha again?”

“…_”

At this point, it was a vicious cycle.

A car consists of about 30,000 parts. Just one missing part can prevent the production of a car, so automobile manufacturers pay close attention to parts procurement and management.

As Woosung Corporation is a primary vendor producing core components for engines, the strike would have been a major concern for Eunsung Cha as well.

Eunsung Cha, through the purchasing department, gave detailed instructions to Woosung Corporation on the company’s strike response, the contract with Changju Consulting, and the deployment of replacement workers, to ensure production and delivery were not affected.

Now, I can fully understand the situation.

Behind Eunsung Cha is Park Si-hyeong. That’s why the police and prosecutors sided with Woosung Corporation in a chaotic manner.

With power and conglomerates intertwined in labor disputes, has the situation escalated to this point?

Mr. Seokbeom lowered his head deeply.

“I feel ashamed telling you this. But you’re the only one I can ask for help.”

Having a lot of money doesn’t mean you can solve all the world’s problems. But at least you can help solve the difficulties of those close to you.

I tightly held on to Mr. Seokbeom’s hand.

“Don’t worry, sir. I’ll try to do something about it.”

Mr. Seokbeom once again shed tears and said,

“T-Thank you, Jinhoo. I’m really grateful.”

***

I sent Mr. Seokbeom back for now.

Taekgyu asked, “What are we going to do now?”

“Let’s handle it your way.”

I contacted the CEO of X-Cop. Since the brief call after the bidding, it was the first time.

[Hello, this is Kim Hyomyung, CEO of X-Cop, speaking to Kang Jinhoo. What can I do for you?]

“I’ll explain in detail later. Please send a security expert over here right away.”

[Understood. It will be arranged immediately.]

After some time, a man entered the CEO’s office. He was in his early 40s, around 190 cm tall, and covered in rock-hard muscles all over his body.

He respectfully greeted me with a nod.

“Nice to meet you, CEO Kang Jinhoo. I’m Lee Cheoljin, a manager at X-Cop.”

We exchanged greetings and sat down on the sofa.

I asked straight away, “Have you heard of Changju Consulting?”

Manager Lee Cheoljin nodded in confusion.

“Yes.”

“What kind of company is it?”

“They provide consulting in HR and labor management.”

“Is it well-known?”

“Yes. In this industry, almost everyone knows them.”

“Officially an HR consulting firm. But what’s the actual situation?”

Without hesitation, he answered my question.

“Consider them a professional subcontracting gang specializing in union destruction. Half of their employees are gangsters.”

“And the other half?”

“I’m a gangster.”

“…”

What’s the difference between them?

I asked while leaning back on the sofa.

“They are quite dangerous individuals. If a physical confrontation were to occur, would X-Cop employees be able to handle them?”

Manager Lee Cheoljin replied seriously, his expression firm.

“Of course. X-Cop has elite agents. Many are former special forces or mercenaries from abroad. Dealing with gangsters or thugs is a piece of cake for them.”

He seemed subtly offended, as if his pride had been touched.

It’s no wonder, as X-Cop is the second-largest security company in South Korea. They are incomparable to subcontractor gangster companies in terms of manpower, equipment, and financial resources.

I nodded my head.

“That’s good to hear. Let’s see your skills in action this time.”