Chapter 240 - Egnopak’s President is Furious (3) – PART 1
Gun-Ho laughed and said,
“I don’t have 230 billion won. That’s not why I want to buy that building. I will lend some money from a bank to acquire that building.”
The internal auditor looked at Gun-Ho with a skeptical look on his face.
“Still, you need a significant amount of money to start a loan processing to acquire that expensive building…”
The internal auditor who used to work for a bank couldn’t figure out at all how much money Gun-Ho had and the level of capacity Gun-Ho could bring into his business.
‘I know this young man is rich, but I can’t figure out how rich he is though. When did he make that much money? He is only 30 something years old.’
The internal auditor couldn’t understand how Gun-Ho possibly accumulated that much wealth at his young age.
Gun-Ho continued to talk,
“You three need to go to Seoul the day after tomorrow and pay a visit to President Park who is the owner of the RiverStar building in Sinsa Town. His office is located on the 18th floor. Tell him that President Gun-Ho Goo of GH Mobile sent you there. He is actually expecting you.”
“Are you going to give him a call before we arrive there?”
“Of course, I will.”
“What do you want us to do there?”
“Mr. Internal Auditor, you will have to check the building’s liens, the status of their security deposits, rental income, the depreciation cost, and their building maintenance reserve, and also find out if they have any unpaid taxes. You can take one of our accounting staff if it is necessary.”
“Yes, sir.”
“Once you get there, talk with the accounting manager. Their accounting manager is a 50 something years old lady, and she has been working for President Park for 30 years.”
“Yes, sir.”
Gun-Ho and the sales director had to leave their ID with the security office at the entrance and sign on their guest book in order to enter the company. It was the usual process for a big company.
“They must export a lot of their products overseas since they are manufacturing home appliances.”
“That’s why they are located in the vicinity of Pyeongtaek Port. Their second factory is situated in the Changwon Industrial Complex which is close to Masan Port.”
The sales director smiled.
“It’s nice that their managing director who wants to see me is in their Pyeongtaek location, rather than in Changwon. It would take us half a day to get Changwon.”
Gun-Ho and the sales director waited in a waiting area for a while before Mandong Company’s managing director came in with their manager who was in charge of purchasing of necessary products.
“We have once met during the last meeting for the suppliers and vendors, haven’t we?”
“We actually met once when the president of Mandong Company held a friendship golf tournament.”
“Oh, did we?”
The managing director dragged his chair to sit close to Gun-Ho and leaned toward him.
“President Goo, do you know the president of Egnopak?”
“Yes, I do.”
The sales director wondered when the managing director mentioned the company name—Egnopak out of nowhere.
“We haven’t done any business with Egnopak.”
“Why don’t you stay quiet, Mr. Sales Director?”
The sales director couldn’t say anything when Mandong’s managing director told him to stay quiet since Mandong was a major customer of GH Mobile.
While the sales director suppressed his desire to say something back to the managing director, Gun-Ho smiled. Gun-Ho thought that even though this man was a managing director of a big company that happened to be GH Mobile’s major client, he was just an employee who was working for the company on a salary.
“Is there something I need to know about?”
“Our president is close to the president of Egnopak. Egnopak’s president recently pressured our president not to have business with GH Mobile. He even said that GH Mobile’s president is a jerk and shouldn’t get involved with him for anything.”
“He is a cowardly man.”
“What?”
The sales director had no idea what these two men were talking about and he was curious. He didn’t know something was going on with Egnopak’s president.
Gun-Ho was calm and he said,
“Mr. Managing Director, you do know the American company called Lymondell Dyeon, don’t you?”
“Of course, I do. It is a global manufacturing company of chemicals.”
“The president of Egnopak planned to do a joint venture with Lymondell Dyeon and wanted to have a factory in Korea for that business.”
“Hmm. I wasn’t aware of that.”
“And he demanded Lymondell Dyeon 51:49 and they declined Egnopak’s offer for a joint venture.”
“Hmm.”
The managing director was listening to Gun-Ho with his arms crossed, and he seemed to be enjoying the story that Gun-Ho was telling him.
“So, Lymondell Dyeon picked our company instead, as their co-venturer.”
“Huh? What? With GH Mobile?”
“That’s right. We will build a factory for the joint venture on the land in Asan City where we used to have our factory. Lymondell Dyeon and GH Mobile agreed on 50:50.”
“That sounds right. You have to do 50:50 for an international joint venture.”
Note*
KOSPI – Korean Composite Stock Price Indexes