Chapter 661 - Each GH Company’s Year-End Financial Report (2) – Part 2
Jong-Suk Park continued to talk to Gun-Ho, “You don’t know, bro. There are several people in the production department among mid-level managers who graduated from Korea University of Technology and Education. Also, my wife firmly believes that I will be accepted to transfer to that university. I don’t want to see my wife being disappointed. I would be so embarrassed.”
“You are not like everyone. You are talented in the field, and you have extensive hands-on work experience specifically in the very industry. Even the world-renowned engineer—Mr. Sakata Ikuzo—spoke highly about your competency.”
“That’s not enough, bro. I didn’t care about my academic background when I worked at the small factories in Pocheon City and Yangju City. But, here is different. We have more than 500 workers. It is a must to have at least a four-year college degree in my position. Whenever we have a visit from potential client companies, they all ask about what major the plant manager studied in college.”
“Hmm, really?
“When I told them that I didn’t go to college, they sneered. Well, that’s how I felt.”
“You are being too sensitive.”
“Also, my wife has a high expectation on this too. I feel pressured enormously at work and at home.”
“You are suffering unnecessarily for a trivial matter. Well, I became free from those worries when I graduated from Zhejiang University in China. If I stopped studying after graduating from that cyber college, I might have been wasting my time worrying about what others would think of me because of my academic background.”
“That’s why you married the woman who graduated from the top university in the nation—Seoul National University.”
“Haha. Is that why I married her?”
“I should have studied harder for TOEIC. If I scored even a few points more, I wouldn’t worry this much. Sh*t! I want to go back and relive my life again. I swear that I will study hard.”
“Don’t worry about it. I’m sure you will do great tomorrow with the interview.”
“Well, bro, I gotta go.”
Jong-Suk turned around and started walking toward Production Site B after passing the door. He looked obviously down.
While watching Jong-Suk leaving the room, Gun-Ho suddenly felt nervous as well.
“What if his application is turned down as he is worried? He will be so disappointed that he won’t be able to focus on his work. Because of that stupid academic degree, a competent young engineer is suffering greatly.”
“I’m not in the position to give an approval or agreement on it, sir. Even though it was previously discussed in the board meeting, I will have to hear what the head office would say about it.”
“Okay. Tell them that we want to reinvest that 9 billion won in the company.”
“Yes, sir.”
“As we put 9 billion won back to the company, we will assume that Lymondell Dyeon contributed 4.5 billion won, and we contributed the other half—4.5 billion won. Also, since we would list the company building under Dyeon Korea as our investment in-kind, we will take out 3 billion won in cash, which is the fair value of the building. GH Mobile will use that money to pay the bank for its debt.”
“That means the Korean co-venturer put 3 billion won in investment in-kind and 1.5 billion in cash, right?”
“That’s correct.”
“Understood. I will let the head office know.”
“We have Director Yoon here, who was in charge of the construction when we built this building. It actually cost us a bit more than 3 billion won, but we asked the appraisers to try not to give us more than 3 billion won of value.”
“Haha, thank you.”
Gun-Ho looked at Director Yoon and asked, “Did we notarize the appraisal?”
Interpreter Chae responded this time, “I’m sorry, sir. We have the appraisal, but I didn’t have a chance to translate it yet. I will finish it and get it notarized within this week.”
“Okay. Do it as quickly as you could.”
Gun-Ho said to the internal auditor, “Once we receive the external audit document from the CPA firm in March, please pay the corporate tax right away.”
“Yes, sir.”
“And, take the document about the capital increase to the certified legal consultant’s office, and take out 3 billion won, which corresponds to the construction cost of our company building, and then send it to GH Mobile. I already instructed GH Mobile’s President Song to pay the bank for its debt once he receives 3 billion won from Dyeon Korea.”
“Understood, sir.”