Chapter 92 -Professor Jien Wang (1) – PART 1
Gun-Ho was thinking of what he would do if he successfully bought the vacant lot in Gangdong District at an auction.
“Should I build a hotel?”
Even if he successfully acquired the land by an auction, his property interest in the land would be only 50% since the land was held in tenancy in common and there was another owner who had the equal property interest in the land.
Say, he could persuade the other owner to sell his or her interest to Gun-Ho. Gun-Ho would have to pay that owner an additional 600 million or 700 million won to buy his or her property interest.
It would not be just the price of the land Gun-Ho had to bear. If he wanted to do something with the land, he would have to build a building or a hotel, or whatever he wanted to build, and that would cost him additional money.
“How much more should I expect to spend with the land?”
Gun-Ho was drawing his plan with the land on a blank canvas in his head.
“The land is 200 pyung. If I assume the building will use 100 pyung out of it and the price of construction is 5 million won per pyung, then the total construction cost would be 500 million won. If I build a 10-floor building, sh*t! It would cost me 5 billion won. For a 15-floor building, 7.5 billion won would incur. Then how much in total would I spend for the land price and construction cost altogether? I guess it would cost me all of my money.”
Gun-Ho wanted to ask Manager Kang more details on it, such as how many pyung would be allowed to use to build a building and exactly how much it would cost per pyung to build it. Then he decided not to ask him.
“It’s too early to go into the details. Let’s wait and see how things turn out at the second auction.”
The idea of developing the vacant lot still lingered on Gun-Ho.
“Maybe I should put all of my money into this by building a hotel once I purchase the land, and become the president of a hotel. Even though the hotel wouldn’t be located in the center of Seoul but a bit distant from the center, I can decorate the hotel really pretty and elegantly. I would be respected as the owner of a hotel who is running his own hotel.”
Gun-Ho then thought of running an office-tel.
“I could build an office-tel there, a large one and I directly operate it. Assuming the number of rooms would be 150 and a monthly rent for each room would be 600,000 won, the monthly income from the office-tel would be 90 million won then. Maybe building an office-tel is better.”
Gun-Ho couldn’t decide which building he wanted to build and he repeatedly drew and erased a hotel or an office-tel on the land in his head.
Gun-Ho opened a newspaper published by C Media.
“So, which one do you recommend?”
“How many people are going?”
“Two. Well, it will be three people including me.”
“What are their occupations?”
“One is a college professor and the other is a deputy mayor.”
“A college professor and a deputy mayor? Then you should choose a place classy and refined.”
“That doesn’t matter actually. They are my friends and we are all at the same age.”
“Really? How did you meet people like that? Well, let me see… There is one good place. Its name is ‘ArariYo.’ It’s a bar where you can see a traditional Korean musical and dance performance while you drink.”
“Oh, they do traditional Korean drum dance too? That sounds awesome. Give me the direction to that bar.”
A lady entered Gun-Ho’s office.
“Umm, is Ms. Ji-Young Jeong here?”
“Yes, that’s me.”
Ji-Young stood up and showed the lady to the meeting table.
Gun-Ho looked at the lady carefully; it was her, his sister’s friend, Seung-Hee Park. Gun-Ho stood up from his seat.
“Are you Seung-Hee sister?”
“Oh my gosh! Gun-Ho?!”
The lady seemed to be surprised to see Gun-Ho. Gun-Ho was also surprised because she had changed a lot. She used to be a very neat and proud young lady. Now she looked shabby and old. Also, Gun-Ho remembered that she was tall but the lady in front of him right now seemed to be short.
“Long time no see. Have a seat.”
“I barely recognize you, Gun-Ho. You have grown to be a dashing gentleman. I wouldn’t have recognized you if I just passed by you on the street.”
Ji-Young brought them green tea.
“Where do you live, Seung-Hee sister?”
“I am still living in Bucheon. Your office looks clean and cozy.”
Seung-Hee looked around the office while sipping her green tea.
“My sister told me that you are selling insurance.”
“Yeah, I happened to work in this field. It’s sort of a rewarding job.”
“Our company is operating three OneRoomTels right now and I’d like to buy fire insurance for those three. You can talk with Ms. Ji-Young Jeong, regarding more details about it because I have to leave now. I have an appointment with clients from China.”
Ji-Young nodded her head at Seung-Hee.
“Oh, you are leaving? Sure, I will talk with this lady then. It was really nice seeing you again Gun-Ho. You looked more handsome than you were when you were little.”
Seung-Hee looked at Gun-Ho as if she admired him.
In fact, Gun-Ho became neat and dashing lately.
He had been wearing only brand-name shirts and suits, and even for t-shirts and shoes. Clothes make the man. Moreover, Gun-Ho had regularly been receiving skin care from a skin care shop. He certainly looked better. His complexion had been brightened and he looked like someone who had never experienced hard work in his life because he was born to a rich family. No one could imagine that he had once been a factory worker—doing manual labor job in a small factory.