2023-06-03 Elly Chae Eun Statement

Korean Original: [펌]회사에서 쫓겨났는데 알고보니 스톡옵션을 16배 무상증자해서 나 빼고 다 부자된 엔터회사 (ft.가스라이팅) - 유머/이슈 - YULDO 

English Translation (@juantokki): https://x.com/juantokki/status/1850583377768026564

I joined the company when there were about 30 people working in a small office, after they begged me to help out. Though my title was Director, I handled everything from intern-level tasks to executive duties. Since there wasn’t even space for a desk, I cleared out a storage room full of trash and set up my workspace there. The company wanted to expand into the U.S. market but didn’t know how. I reached out everywhere, practically begging, and managed to secure a six-month contract with a local PR agency in the U.S.

At that time, the group was barely recognized by major American media, but in Korea, the artist had a fanbase, even if they hadn’t quite reached the top. Thanks to the support of the fans and our promotional efforts in the U.S., we created truly historic moments. Back then, both the CEO and VP referred to me as “a godsend” and said they wanted to work with me long-term. I was even given stock options from the CEO as a gesture of that commitment.

But as the company began to thrive, it seems the CEO’s attitude towards me changed. He would scold and yell at me without reason, and I could feel his growing dissatisfaction. He called me in several times to criticize me, as if I were a student being reprimanded by a teacher. Despite this, I endured it because I was dedicated to my work, had restructured systems since joining, and my team and I worked incredibly hard.

Then, they stopped inviting me to relevant meetings. They secretly posted a job ad to hire someone new for my team without informing me and conducted interviews behind my back. The CEO was essentially isolating me at work. He created a separate group chat with the other executives, excluding me. When I confronted him, he began attacking me with baseless accusations, saying things like I was “working like a government employee,” “my expression wasn’t pleasant,” and “I was bossing around other employees.” It was absurd, but I still tried to resolve things. I told him that I would correct anything I’d done wrong, work on my weaknesses, and apologize to any employees who felt wronged. But he simply told me to leave. When I asked for proof of his claims, he just said he had “heard it from employees,” but offered no evidence. It was as if they were trying to paint me as a villain without any basis—a form of gaslighting. I even considered begging on my knees in front of the CEO, but he refused to meet me, communicating only through the VP. (The VP was his right-hand man, having previously worked together at another entertainment company before founding this one.)

In my 17 years of working life, I’d never experienced anything like this. I was always praised for my performance and thanked, and never dreamed I’d be thrown away over groundless accusations. The CEO was such a cold, ruthless person that I knew I couldn’t stand up to him. I consulted a labor lawyer, who advised me to gather evidence of any illegal activity and file a report. But these people were crafty; even the VP only pressured me verbally to resign and avoided using documents, emails, or messages—clearly being careful to leave no record.

During this mentally exhausting period, the VP eventually delivered a final notice from the CEO that it would be best if I left. He also requested that I frame it as a voluntary resignation for the company’s image. When I said I didn’t want to leave, as I’d done nothing wrong, he subtly threatened that since the CEO controlled HR decisions, he could make things difficult by reassigning me to a low-status position or convening a disciplinary committee. Looking back, I should have been more resolute and stood my ground, but I was already broken, my self-esteem shattered, and in a weakened state, I agreed. I finished my tasks thoroughly, ensuring a proper handover before leaving.

Seeing how much I struggled and cried, they seemed to pity me and even offered a small bonus. Strangely, after all the push to get rid of me, the CEO and VP proposed a separate contract to keep me on as a consultant for another year. Despite wanting me gone, they were asking me to stay on. Perhaps they feared I might join a competitor.

Maybe they wanted to prevent me from joining a competing entertainment company. During my time there, I had a hand in everything: press releases, album introductions, social media, English interview training and scripts for the artists, risk management, fan engagement—you name it. If the CEO or VP asked, I did it all and achieved results.

That was a few years ago, and my career was so damaged that I essentially retired. Strange rumors spread about me in the industry, which didn’t make sense, as I had no reason to leave and was performing well. Recently, while trying to update my work history, I searched for articles I had been mentioned in. Through public records and news articles, I discovered that after I left, the CEO had dramatically increased the stock options through a free issue, expanding the shares considerably, but my portion was canceled.

I’d thought that leaving meant losing the stock options I initially received, but realizing they’d multiplied 16 times—it’s an entirely different matter. The pain and humiliation I had forced myself to forget came rushing back, making it hard to cope. The employees, executives, and the CEO I worked with are now extremely wealthy. The company went public and struck it big. Looking back, I think the CEO and some executives deliberately pushed me out before they could exercise the stock options, knowing they were about to multiply.

Just recently, I saw an article that some employees at that company profited by selling shares early using insider information. I worked there for nearly two years, received little pay, and now feel like I only suffered a loss.

I didn’t know this either, but it seems that quitting due to pressure or coercion, rather than being fired, isn’t protected by the law. I feel like they came up with a way to get me to leave voluntarily so that I couldn’t exercise my stock options. It’s frustrating and upsetting, and I feel like screaming in a bamboo forest, but I have no place to seek help or comfort. I wish I knew a lawyer I could consult. All I have are a few work diaries documenting everything and a recording of a conversation with the VP asking me to leave the company. And there’s a resignation agreement written in terms that are completely disadvantageous to me… Looking back, I realize I was too naive and foolish. They promised stock options, but then found excuses to make me leave before I could exercise that right… and I just had to accept it. I imagine there are quite a few people in my position. I heard that even after I left, they held disciplinary committee meetings for other employees under similar circumstances and forced them out over unfounded issues. 

It’s a truly terrible company. 

Thank you for reading this long message.