Story of a Big Player from Gangnam

Chapter 923: Gift (2) – Part 2

Gun-Ho headed to GH Machines with his chauffeur— Chan-Ho Eom. When he entered the president’s office, Jong-Suk Park was not there. At that moment, the interpreter lady— Ms. Mi-Ran Yang— came to Gun-Ho and greeted him. She saw Gun-Ho several times in the office before.

Gun-Ho asked her, “Where is the president?”

“He is in the production site, sir. You will find him in the area where all the assembly work is done.”

“Hmm, I see.”

Gun-Ho went to the production site. The workers there were inserting double metal rings to GH Mobile’s products. There were about 20 of them. Jong-Suk Park was standing next to the worker who was inspecting final products.

“They look good,” said Gun-Ho.

“Mr. Chairman, you came.”

Jong-Suk Park seemed to be in a good mood. He was smiling broadly.

“Let’s go to my office.”

Gun-Ho and Jong-Suk Park were walking toward the president’s office when they ran into the plant manager— Yanagi Masatoshi. He seemed to be on his way back to work after stopping by the restroom.

“Hello, Sajjo-san (Mr. President). Oh, I should say Kaichou-san.”

“How have you been, Mr. Yanagi Masatoshi?”

“I’m doing great, sir. Mr. President Park has been very kind to me.”

“Since we have you here, I don’t worry a thing about the products that are being shipped to Isehara Machines.”

“Haha. Thank you, sir.”

As Gun-Ho sat on the sofa in the president’s office, Jong-Suk Park called for the Japanese interpreter lady worker— Ms. Mi-Ran Yang.

“Please bring us two cups of black tea.”

After a moment, Ms. Mi-Ran Yang came to the office and placed the tea on the table. As she walked out of the office, Jong-Suk Park said, indicating the lady worker who just left the office, “She is being very helpful around here lately. I hired her as an interpreter for the Japanese workers here, but since she doesn’t have to do the interpretation work for them all day long, she does other work too. She works as a secretary when we have visitors, and she is also taking care of our general affairs as well.”

“Really?”

“She records the number of days that each of our production workers worked for. She also calculates the wages for them. I think I should promote her to a manager or something next year.”

“It’s nice to have a competent worker in the office.”

“Bro, our sales have increased a lot, I mean really a lot. We are making 1 billion won per month now. Hehe.”

“GH Mobile’s President Song told me that GH Machines’ sales revenue from S Group’s product order will soon increase from 500 million won to 1 billion won.”

“Hehe. I’m planning to hire 10 more workers for the work. We are currently doing some assembly work, but that’s not GH Machines’ job. We are doing it because we need work. I’m trying to get into the defense industry to earn a business there.”

“Is that right?”

“Our new sales manager— Mr. Hee-Young Noh— is contacting H Heavy Industries. We want to provide them with screws and valves.”

“Really?”

“Manager Noh already procured a new client— Army Logistics Command. The amount that we will make from it is not much for now, but I believe that if we persistently do a business with them, we will later earn a large project from them.”

“Hmm, I see. Does he have a connection with the Army Logistics Command?”

“The bidding on a government project is done publicly these days while it had usually done through a connection in the past. We made our bid for the work on their website—Korea Defense Online E-Procurement System. It’s a 20 million won project for us.”

“Is that work for Public Procurement Service?”

“It’s different. It’s actually for the Ministry of National Defense.”

“How many clients do you have right now then?”

“We Isehara Machines; we make about 200 million won from the work for them. For Dyeon Korea, we don’t get work regularly, so I can say that we make 150 million won per month. And, now, we make 500 million won with S Group’s product work, and with other small services that we provide here and there, we make an additional 150 million won. So, we generate 1 billion won on a monthly basis now.”

“That doesn’t sound bad at all.”

“I feel very hopeful these days. I want to grow this company, so, someday, I can make GH Machines go public. And, I want to acquire a company in the heavy industry later.”

“Haha. I like your goal.”

The following day, Gun-Ho went to work in GH Building, Sinsa Town.

He called for Director Kang.

“We don’t have a current appraisal of this building, do we?”

“The only appraisal that we have is the one that we received when we bought the building, sir.”

“I want you to have the building appraised again then. We will use the appraisal in taking out a loan from a bank. So, we want to receive as high appraised value as possible.”

“A loan, sir? But GH Development can’t handle an additional loan payment, sir.”

“I have a plan. Don’t worry about it. Just get a new appraisal.”

“Are you trying to...”

“You want to ask me if I plan to sell this building? Haha. I won’t. Don’t worry.”

Director Kang seemed to be startled for a moment. If Gun-Ho sold the building to a third party, he would probably lose his job.

As he was trying to calm himself, Director Kang said, “The price of real properties in Gangnam District recently increased greatly. I’m sure that this building’s value has increased enormously too.”

After Director Kang left the office, Gun-Ho made a call to A Electronics Group’s CEO Park.

“It’s Gun-Ho Goo. Can we talk?”

“Sure.”

“Since a massive amount of funds was distributed among the GH Mobile’s shareholders already, I think it’s better for ‘him’ to dispose of his ownership interest in GH Mobile. Because of a huge amount of taxes that the company is facing now as a result, we won’t be able to distribute dividends for the next several years anyway.”

“Hmm, I see your point, and I understand your view. I will discuss it with the relevant party, and I will give you a call.”

“When he acquired the ownership interest in GH Mobile, he paid with his personal funds. I will return that amount.”

“How much was it?”

“It was 750 million won for his 15% ownership interest.”

“Alright.”

Two days later, an appraisal and assessment institute conducted an appraisal on GH Building. And, later that day, Gun-Ho received a call from A Electronics Group’s CEO Park.

“Mr. Chairman Goo? It’s A Electronics’ CEO Park.”

“Yes, sir.”

“I discussed it with him. He agreed to transfer his ownership interest of 15% in GH Mobile to you.”

“Really? Thank you.”

When CEO Park said that “he” agreed to transfer the ownership interest to Gun-Ho, he was referring to Party Leader Jin-Woo Lee’s father— Mr. Beom-Sik Lee. He was holding a 15% ownership interest in GH Mobile, and GH Mobile was a company with a capital of 5 billion won. Gun-Ho wanted to cease the connections with politics if possible. Once a new administration arrived, things could change in an unexpected way, and Gun-Ho didn’t want to put himself and his business in a position that could be swayed by politics. He helped them in every way he could, and he didn’t want to continue to be involved with politics.

CEO Park said, “You are going to send him 750 million won after he transfers that ownership interest to you, right?”

“Of course, I will make sure that he receives that amount.”

“Alright then.”

“I will send you the contract to transfer the ownership interest via express mail. After having him sign the contract, please send it back to me. Also, I will need a copy of his certificate of seal impression as well.”

“No problem. I will take care of it.”