Story of a Big Player from Gangnam

Gun-Ho made a call to his brother-in-law to inform him about the property that they wanted to lease for GH Logistics’ new location.

“We got the rental property in Siheung City on Onbid.”

“Oh, really? How much did we offer? I think I read you a wrong number last time. It was 6 million won, not 60 million won.”

“Our price is 6.15 million won.”

“That’s good. It’s the rent for one full year, so its monthly rent is about 500,000 won.”

“That’s correct. Now, brother, tell me about your plan with the office setting. Are you going to place a container office there?”

“I think so.”

“What about electricity?”

“I saw a utility pole nearby. I think I just need to apply for the electricity service to the Korea Electric Power Corporation. I will contact them.”

“What are you going to do with water then?”

“Water…”

“You will need a bathroom and access to water to have an office there.”

“Oh, shoot. I’m sorry.”

“Use the property that we are leasing through Onbid to store the trucks. President Moon is going to rent a vacant daycare center building. You can use it as an office. It’s right on the adjacent property.”

“Oh, there was a vacant daycare center nearby?”

“It would just need to be cleaned before placing the necessary furniture and office supplies. They have everything that you need for an office use, like electricity and water service, sewer system, bathrooms, and even a kitchen.”

“That’s correct.”

“S Group is making a fuss about his art exhibition?”

“Why is that so?”

“Because of our internally developed product— AM083 Assembly— that we are currently providing to S Group.”

“What about it?”

“They figured that our AM083 Assembly was made with the mold that Mr. Sakata Ikuzo carved.”

“Really?”

“S Group’s Chairman’s son asked all of their employees to visit Mr. Sakata Ikuzo’s wood carving art exhibition.”

“Oh, really?”

“They are also using the fact for their marketing. They are spreading words that their products, that are supplied to many auto manufacturing companies in the world, are the world-renowned engineer— Mr. Sakata Ikuzo’s works.”

“Haha. That’s nice. Good for them.”

GH Art Gallery was filled with people on a daily basis during Mr. Sakata Ikuzo’s wood carving art exhibition. It was a huge success. However, it couldn’t tell that it would bring corresponding good profits since the gallery didn’t charge any admission fees to the visitors, and also it was not like the wood-carved figures were there for sale. The amount of profits that the art exhibition would bring to GH Media was uncertain for the moment.

Mr. Sakata Ikuzo’s previous art exhibitions in Yokohama City and Nagoya City were held in a public art gallery, so they cared less about profits. However, GH Gallery was a for-profit entity, and it was by nature sensitive about making profits out of any work that they made.

Gun-Ho received a call from Jae-Sik Moon about the GH Logistics’ land that was on the market for sale.

“That cosmetic company’s owner president was here today to see the land himself.”

“I guess that they are serious about purchasing our property.”

“He said he did like the location and the shape of the land. The only thing that bothered him is our price.”

“Our price for the property is 1.5 million won per pyung, right?”

“Yes. How low can you go if he really wants to buy it?”

“You told me that the real estate agents in that area said that the adequate price would be 1.2 or 1.3 million won per pyung, right?”

“That’s right. But those two agents didn’t even visit the property. Their estimate is based on the map. Well, they said they saw the property when they were passing by the other day.”

“If we sell it for 1.2 million won per pyung— so, it would be 6 billion won in total— how much can we make after paying the capital gain tax?”

“The capital gain tax? I can ask that to the tax accountant who we have been working with.”

“No, it won’t be necessary. Well, let’s offer him 1.3 million won per pyung. Our lowest price is 1.2 million won.”

“Got it. I will let you know once I talk to them.”

“Okay.”

“I signed the lease contract for the old daycare center.”

“You did? Good job.”

“Your sister actually wanted to come when I sign the contract, so she was here too.”

“Really?”

“We got the keys from the owner, and I gave them to your sister, so she could clean it. Your sister seemed to like it a lot.”

“Haha. That’s good to know.”

“I told her not to buy any office furniture and stuff just yet since once we sell the property here, we will move stuff from the current office to the new location. She will know then what additional furniture and office supplies she would need.”

“That’s good.”