The leader of the labor union took the microphone and asked the company's representatives to leave the room.
"We will need to discuss it in private. Please give us a moment."
Gun-Ho, President Song and other executives walked out of the auditorium. On the way out, President Song said to Gun-Ho in a low voice,
"That was a nice speech. There is a requirement when a company goes public anyway. The company shares need to be dispersed among minority shareholders."
"What percentage is legally required?"
"It's 30%. If the shares are to be dispersed among more than 500 minority shareholders, then it would be 10%."
"Hmm. I guess we will have to grow our company with more than 500 workers then. A lot of work to do until then."
Gun-Ho grinned at President Song.
"Why don't we all go to my office and have a cup of coffee?"
The executives congregated in Gun-Ho's office.
"Do you think they will take your offer, sir?"
"I'm not sure. I guess they have some members who are more radical than the others, and some must be soft. They are probably vigorously debating right now. Are there any external influences on them?"
"I haven't noticed any yet."
"Mr. General Affairs Director, ask one of your workers in your team to go to the auditorium and see if he can find out anything."
"Yes, sir."
The general affairs director came back to the office after a while and said,
"One of my staff went to the auditorium. He said they are fiercely arguing with each other right now."
"That means there are some members of the labor union who want to end the sit-in and take my offer. This can be considered as the fourth attempt of the wage negotiation. They must be very tired. You all must be extremely exhausted as well."
"We haven't achieved anything though. We should have reached an agreement with them already without requesting your presence, sir."
"If we reach an agreement today, why don't you all go to Onyang City and take a good rest and release the tension by taking a sauna there?"
The staff from the general affairs department came into the office and said,
"The labor union wants to talk with President Goo."
"Let's all go in there together."
Once Gun-Ho entered the main auditorium, he said with a smile,
"Did you take enough time to think about my offer?"
"We all agreed that it was too much for us to ask to retroactively raise our salary by taking into account the court receivership period when the salary was frozen."
"Thank you for understanding."
"We want to make sure on one thing though before we agree to the minimum increase in our salary for this year. If our company achieves more growth in the sales revenue in the future than the minimum salary increase rate that is required by the government, will you increase our salary more than the minimum rate required by the government?"
"Of course."
"Please note that we will record your response, sir."
"Sure. Go ahead."
"What percentage of the company shares are you contemplating to distribute to the employees?"
"I will distribute the maximum number of company shares that the registration regulation with KOSDAQ allows. However, we are not going to distribute the shares equally among the workers. We will have to consider each worker's level of contribution to the company, which is greatly different between the workers who have been with us for several years and the one who just joined us. That will be the major factor that we take into account in determining the number of company shares to distribute among the employees."
"What about the job positions? For example, are you giving 100 to the manager and 50 to the assistant manager?"
"We won't make any difference according to the job positions."
"Okay. We will sign the agreement then."
Gun-Ho stood up from the seat and extended his hand to the executives of the labor union. He also tapped their backs.
Chapter end
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