Chapter 475 - Transfer the Ownership of Dingding’s Sales Company in China (1) – Part 2
Actually, Gun-Ho paid only 285 million won in purchasing the land that was being used for storage of Dingding’s sales company in China. Even with the taxes and other fees, it cost him about 300 million won. Gun-Ho wanted to sell the sales company for a higher price if he had to transfer its ownership to Dyeon Korea.
“Okay, sir. I will talk with the head office.”
“There is one more thing. I promised President Dingding a stock option since we are not paying her enough salary right now. If Dyeon Korea takes the ownership of the company, President Dingding’s stock option will become invalid. I want her to get paid at least 20,000 Yuan if she won’t get her stock option.”
“Okay, sir. I will talk about that too with the head office.”
After Mr. Adam Castler left Gun-Ho’s office, Gun-Ho immediately made a call to Min-Hyeok Kim in China.
“We have a problem.”
“What is it?”
“Dingding’s sales company will be transferred to Dyeon Korea. The head office in the U.S. claimed that having an independent sales company in China is a violation of the joint venture agreement.”
“What would happen then?”
“Dyeon Korea will eventually take the ownership of the company. I will no longer be the major shareholder, but Dyeon Korea will take it over.”
“What changes do we have to expect then?”
“Nothing much actually. Dingding’s stock option will disappear though. Instead, her salary will increase substantially.”
“How much would it be?”
“I’ve been negotiating to get her 20,000 Yuan.”
“Really? 20,000 Yuan is not bad at all.”
“I was told that it’s selling 70 tons of raw materials per month. Is that because of the company in Yancheng which she was working on?”
“He wants to talk to you about what he discussed with the head office.”
“Hmm, okay, tell him to go on.”
Secretary Yeon-Soo Oh said something to Mr. Adam Castler, and then Mr. Adam Castler started rambling on something.
Secretary Yeon-Soo Oh interpreted what Mr. Adam Castler just said.
“First, there is no problem with the initial investment fund since the amount can be easily verified with the fund transfer receipt.”
“Hmm, good.”
“Second, as to the price of the land, if you could provide them with an appraisal made by the Chinese appraisal committee that earned public trust, then there would be no problem for them to accept it.”
“Okay.”
“But, they can’t accept the price of goodwill.”
“Sons of b*tches.”
Secretary Yeon-Soo Oh startled when Gun-Ho suddenly screamed.
“However, if you could show them a list of the current clients, and if 50% of the clients are Korean companies, then they can pay you 100 million won. If 90% of the clients are composed of Korean companies, then they will approve the payment of 200 million won.”
Gun-Ho smiled, but he didn’t show it to anyone.
“Well, will you tell him that I am a bit disappointed?”
Yeon-Soo Oh said something to Mr. Adam Castler.
“What did Mr. Adam Castler say?”
“He said he absolutely understands how you feel. And, there is more. Fourth, they will acquire the company with the current accounts receivable and accounts payable.”
“That’s good. Tell him that is good.”
“Fifth, they agree to pay President Dingding 20,000 Yuan, and her salary will be adjusted as they see the changes in the sales revenue. They will not give her a stock option though.”
“Okay. That’s good.”
“That’s all he said.”
“Tell him that I will have to talk with Dingding and others in China and will let him know.”
Yeon-Soo Oh said something to Mr. Adam Castler before terminating the call.
Once they got off the phone with Mr. Adam Castler, Gun-Ho smiled at Yeon-Soo Oh.
“Good job.”
Gun-Ho was thinking about the deal.
‘According to Min-Hyeok Kim, more than 90% of their clients are Korean companies. I guess I will make 200 million won out of it. I believe that I could make more money if I continue to own that sales company, but I can tell that this investment is a success as it is.’