CH12 : Worker

"Can I assume you approached me knowing I'm an IDA associate?"

"I won't deny it."

I met his gaze with calm eyes.

As a businessman, you must be sincere in profitable matters.

I hadn't committed any illegal acts, so there was no need to lie.

"Phew... According to regulations, I should distance myself from you immediately, but my curiosity is greater. How did you know? I'm not affiliated with the IDA or the U.S. government, but just a World Bank officer."

"It was a natural deduction for me. A World Bank officer can be placed in the IBRD, IDA, IFC, or MIGA. There wouldn't be a separate dispatch for a small country like Korea, so the loan officer must be you, David."

"You know a lot. Then you must also know the World Bank opposes the IDA loan, saying there's no benefit to the U.S. even if a petrochemical complex is built in Korea."

"Didn't you just agree that our Korean products would be needed because of the Vietnam War?"

"I agree, but I'm not sure the World Bank headquarters will."

"Why do you care about the headquarters? They don't seem interested in you. If I were you, I'd submit an inflation risk report to the U.S. government in my name."

"!!!!!"

"You should hurry. Once the U.S. government realises the existence of tropical rainforests, your report will be meaningless."

"Gasp!!!!"

For a scholar, achievements are both honour and money.

I can't let this slip away.

"Your opinion will be immediately proven right once we build the Ulsan petrochemical complex. Don't hesitate."

"Immediately proven? It'll take at least three years to build the complex and five years to feel the economic effects."

"That's not the case in Korea. Koreans excel in speed."

"Speed, yes, but there's no basic infrastructure..."

Why say there's no basic infrastructure?

Immediate economic impact is quite possible.

"Gulf Oil is already in Ulsan. We can get raw materials from their refinery, and send surplus gases back via pipelines. Raw material supply and byproduct processing become very simple."

"Such an idea..."

Mister, that's basic plant operation.

Honestly, even if only a few facilities are operational, the raw materials for synthetic fibres will be produced in abundance.

We can mass-produce and export nylon and polyester to the U.S.

"Just loan us $100,000 from the IDA loan, and I'll prove it by year's end. We'll export $1 million to the U.S. What do you think?"

He was the key figure who facilitated the $150 million IDA loan for our country.

$100,000 should be a piece of cake.

"... You're quite boastful."

"Boastful? Why would I boast for just $100,000?"

Think about it. There's no reason for me to lie after showing foresight.

"... $100,000... Fine, I'll invest that to observe you."

David decided to define the $100,000 as a personal investment.

I calmly waited for his next words.

"Can you promise me one thing?"

"Go ahead."

"Promise to meet me at least once a year even if I return to the U.S. Then I'll arrange the $100,000 under the IDA loan's local consulting item. How about it?"

"!!! Of course."

David decided to build a connection with me.

It wasn't bad for me either.

"Sign the contract, and I'll write you a check right away."

David rummaged through a cabinet and brought out a contract.

It was the format used by the U.S. Army Corps of Engineers when signing contracts with domestic construction companies.

Changing the contracting entity from the U.S. Army Corps to the World Bank Korea branch made it a perfect contract.

"Alright."

I signed the contract as Woo Chan-soo from Daese Industrial.

Swipe, swipe.

As soon as I finished signing, David took out a chequebook and wrote a $100,000 check.

It seemed possible to make such contracts in the 1960s.

I expected it to take at least two weeks.

"There should be a Manhattan Bank branch in Jongno. They'll give you cash for the check."

"The account is under the IDA loan?"

"Of course. If needed, request a certificate from the Manhattan Bank branch."

"Thank you."

A $100,000 check... With the current exchange rate, it's 27 million won, but in 21st-century terms, it's 2.7 billion won.

Plus, I can get another 27 million won in loans.

Foreign loans can be matched with domestic loans.

Thinking about it made my heart race.

"By the end of the year, I believe you'll successfully export $1 million to the U.S."

Even if my performance only hits $500,000, his reputation will soar. The U.S. clothing prices will stabilise.

"Look forward to it. I'll make it the highlight of your career, David."

"Hahahaha!"

David seemed pleased with my response and shook my hand vigorously.

***

Korea Development Bank, Jongno headquarters.

"Thank you for your hard work."

"Take care, President."

I deposited dollars from Manhattan Bank into the Korea Development Bank, and they treated me like a complete VIP.

"Don't forget to send a bank employee to the address on this card tomorrow. We'll take over the factory immediately."

"Don't worry."

Not only did they offer to lend an additional 27 million won, but they also promised to send staff to assist with the Seongsu-dong factory acquisition.

I headed to Seongsu-dong with a passbook showing a balance of 54 million won.

It was slightly less than the 60 million won I had boasted to borrow from Sam-bok, but still substantial.

With 30 million won, I could acquire the factory and use the remaining 24 million won to buy raw materials and repair machines.

Then, producing fabric would be a matter of time.

"Taxi! Taxi!"

"Yes, sir."

"Please take me to Seongsu Industrial Complex. There's a factory called Suil Synthetic in the northern alley of the complex."

"Yes, sir."

I took a taxi, eager to boast to Sam-bok as soon as possible.

'He'll be surprised, won't he?'

Imagining his reaction, I headed to Seongsu-dong.

'What?'

As I approached the factory, contrary to my joyful mood, the area was in chaos.

"Boss, where are you?"

"Where are you?"

"Everyone, calm down! President Woo isn't here today. Please leave."

"You leave. I need to see the boss."

"I told you it's a false rumour. Everyone, go back."

"Who are you to tell us to go back? Move aside."

A massive crowd was shouting around Sam-bok, demanding to see the boss.

"What's going on, Sam-bok?"

"Oh man, how could you come now!"

Sam-bok spotted me and looked like he was about to cry.

"I asked what's going on!"

"It's President Woo!"

"President!!!!"

People swarmed towards me like a black tide.

**

"Uh, uh, what is this... Why are you all here?"

With the massive crowd pressing in, I was backed against a wall.

"Boss, you said you were hiring, right? With a salary of 15,000 won."

"That's true, but..."

"Didn't you tell the foremen to bring in good workers?"

Sam-bok pushed through the crowd to reach me.

No exaggeration, but there seemed to be at least several hundred people applying for our factory jobs.

Was the power of a 15,000-won salary this great?

"I'm good at my job. I was top of my class at Seongdong Technical High School."

"I was top of my class at Yongsan Technical High School."

"I was top of my class at Deoksu Commercial High School. I did better than the trio from Masan Tech."

The trio from Masan Tech likely referred to our company's Sung-gu, Yong-gu, and Dong-gu foremen.

Apparently, the foremen were quite famous among tech school graduates?

The fact that their words could attract so many people was surprising.

The foremen kept repeating, "Get in line. Get in line!"

"Aren't you hiring female workers? I'm good too. I was top of my class at Seoul Girls' Commercial High School."

"I'm from Dongsu Girls' Commercial High School. Please hire me."

"I graduated top of my class from Hyosung Girls' High School. I'll work very hard if you hire me."

It wasn't just tech school graduates. Young female students also crowded in, asking to be hired as factory workers.

They all seemed to be from prestigious schools.

In the 60s and 70s, prestigious technical and commercial high schools were a thing.

Many talented students, who excelled in academics but couldn't afford humanities high schools, were abundant at the time.

Back then, even middle and high schools required entrance exams.

Prestigious technical and commercial high schools like Seongdong Tech, Yongsan Tech, Deoksu Commercial, Seoul Girls' Commercial, and Dongsu Girls' Commercial were highly competitive, and parents would brag for days if their children got in.

"Ah, please stop pushing."

Sam-bok and I were pushed by the crowd into the factory yard.

"Sam-bok, how many do we need to hire?"

"What do you mean, how many?"

Seizing the opportunity, let's recruit new employees now.

"We need to hire staff to run the factory."

"Are you crazy? We don't have a penny... Damn!"

Sam-bok stopped mid-sentence.

He probably swallowed the words, "How can you run a factory without any money?"

"Don't worry about the money, idiot."

"You... you..."

When I showed him the balance in my passbook, Sam-bok was stunned.

"Didn't I say I'd get the money? Now, tell me, how many do we need?"

"The foremen say we need three and twenty female workers."

Huh? What? With the current foremen, that means six foremen and twenty female workers. The numbers don't add up.

For three shifts, each shift would have 1.5 foremen and five workers?

The numbers didn't match, and the number of workers was too small.

"Huh? What kind of numbers are those?"

"What do you mean? We need that many for day and night shifts. Any less, and how will it work?"

"What are you talking about? How can you run three shifts with that number? The factory needs to run 24 hours. Only then can we handle the orders."

"Three shifts? Are you crazy? You can't make people work around the clock... Are you that cruel?"

What? Why this reaction?

Sam-bok glared at me with bloodshot eyes.

Overtime pay would be a given if there was overtime.

But overtime in manufacturing happens only in exceptional cases, like when a worker is too sick to come to work.

To ensure efficient factory operation, such situations must be prevented, with one extra worker per shift to handle quality control in normal times and take over in emergencies.

But Sam-bok's reaction wasn't about that. He accused me of being cruel for making workers work 8-hour shifts.

"Are you planning to run the factory on 12-hour shifts?"

"Of course. That way, workers get four hours of overtime and night shift pay every two months."

"... Four hours of overtime a day? That's why so many people came?"

"Of course. Didn't you promise 1.5 times overtime pay? Was that just talk?"

Damn... No matter how good the overtime pay is, how can people work 12-hour shifts continuously?

It might be sustainable for a while, but their bodies won't last.

In construction, where shortening the construction period means money, 12-hour shifts are occasionally used, but not for more than two months.

Longer than that, and worker fatigue leads to accidents.

The fact that so many people gathered because of the promise of overtime pay showed the reality of the 60s.

"Alright. Now I understand what you're saying, Sam-bok."

"Understand? Then, hire as originally planned."

"No, hire more. Enough to have twelve foremen and forty-eight workers."

"What! Hire more than double?"

"Work will increase. Better to hire now and train them together."

Three shifts are more beneficial in the long run, but for now, we need to hire.

The ideal number is multiples of twelve.

It's advantageous for organizing into three or four shifts.

"Training?"

"Yes, training! We need to develop our people."

Even with this many hires, our factory alone can't meet the demand, and we'll need to subcontract.

Initially, subcontracting might seem efficient, but without growing our factory, we'll become dependent on subcontractors' productivity and quality.

The end product's quality will drop, making us rely on cheaper subcontractors, leading to a vicious cycle.

Daese Group couldn't become top-tier due to this vicious cycle. As someone who spent half my previous life in subcontracting, I won't repeat that mistake.

Reborn as Woo Chan-soo, I'll run a proper business this time. I'll nurture my people.

"Wow, you have big dreams."

"Stop joking. Let's move the desks. You and I are the interviewers."

"Interviewers? Me?"

The first recruitment interview for Daese Industrial began this way.