Story of a Big Player from Gangnam - Chapter 119
Chapter 119: Joint Venture (2) – PART 2
The presentation was not bad; it was somewhat successful. Gun-Ho was not satisfied though, but Seukang Li and the president of Jinxi Construction Company evaluated it as a success.
“Sh*t!”
“What’s wrong?”
“We had 100 companies that came to see our presentation. And only 6 of them made a contract. That’s not enough at all.”
“Don’t worry about it. If we add two companies that already made a contract in China, we have eight companies so far.”
“Our goal is 50 companies. How long will it take to have all 50 companies in the industrial park?”
“Having eight companies is a good start. Once we build eight factories in the industrial park, other companies will notice it, and they will ask about their opportunity with us.”
“You think so?”
“Also, you said 17 companies want to visit the site, right? Some of them will make a contract after seeing the industrial park.”
“But we have nothing really there yet. Will they make a contract without seeing an actual factory?”
“Actually, we are currently building a factory to show to the visitors. It’s like a model home for residential houses. It will be completed on the 25th of this month. So you just make sure to schedule the tour after the 25th.”
Manager Kang made a suggestion.
“I will send a letter to the 17 companies who wanted a tour of the industrial park. We can make a schedule, send a letter, and ask them to pay 100,000 won for the tour application fee. Those companies that pay 100,000 won will not cancel their tour.”
“Hmm.
“That’s how travel agencies do it for tours abroad.”
“Okay, then Min-Hyeok can make the tour schedule, and Manager Kang can write the letters.”
“Okay, sir. I will assume that they would leave for China at the end of this month.”
Gun-Ho took the people who came from China, and the company staff to Jongro Tower located in Jongro 2-Ga. It was close to the Koreana Hotel so they all could walk there.
“You have done great work today. Let’s have dinner. There is a nice buffet restaurant in Jongro Tower; its name is Top Cloud. They have a very nice view.”
Chinese people loved the buffet restaurant.
“Heun Hao (Good)! Heun Hao!”
They shouted ‘Heun Hao.’
The presentation was done, and Gun-Ho now had spare time. GH Development Company was doing good since it just had to collect rent from OneRoomTels.
Manager Kang brought the paperwork to Gun-Ho.
“It’s the letter for the tour of the industrial park.”
“Really?”
“And I’ve attached the program schedule written by Mr. Min-Hyeok Kim, I mean President Kim on the backside of the letter.”
“Hmm, it’s a two nights and three days tour.”
“I thought that is adequate.”
“Is this the price for the tour? Isn’t it too expensive?”
“According to the travel agency, it is okay to make a high price for the travel expenses if the trip is for the company employees. That’s because usually the travel expenses were paid by the company rather than by an individual.”
“Hmm, I see.”
Gun-Ho signed on the paperwork that Manager Kang brought to him.
15 out of 17 companies sent the tour application fee of 100,000 won to Gun-Ho’s office. Two companies seemed to decide not to participate.
“Those 15 companies will not cancel the tour since they already paid the tour application fee.”
“Hmm.”
“Also, the travel agency said, if the group has 15 or more than 15 people, we can add one more person for free. If you have someone who you want to send with the tour group, please recommend one.”
“Really? Haha. That’s how it works, huh? Then, why don’t you go with them, Manager Kang? You haven’t seen the industrial park in China yet. This is your opportunity to do so.”
Gun-Ho made a call to Min-Hyeok who was working in China.
“How’s it going?”
“It’s going well.”
“Really?”
“The factory that we will show to our guets is almost done. Why don’t you come and see it?”
“I will come there when there is a board meeting. On the joint venture company’s articles of incorporation, who is listed as the board of directors? Is it the president of Jinxi Construction Company, me, Jin-jjong, and kkao-jjong?”
“Yes, that’s correct.”
“I believe we have two board meetings per year. I will see you at the next board meeting then. Oh, also tell them that I will send the remaining 1,350,000 dollars of my investment fund today since I previously sent 150,000 dollars already.”
“Today?”
“Yeah.”
“They actually kept asking me when you would send the 1,350,000 dollars to them. I think they need money to build the factory to show to the guests.”
Manager Kang told Gun-Ho that they received the travel expenses from the 15 companies. They charged 1,100,000 won for each person and they received 16,500,000 won.
“Before the trip, we will have a meeting so we can explain to them about the tour.”
“A meeting?”
“Yes. We will talk about the program schedule, and the place we will meet at the airport, and we will also verify their passports and visas. Also, I thought it was a good idea for them to meet each other before the trip.”
“Where will you have the meeting?”
“For the convenience of the people who are in the province, I want to reserve the KTX train station office in Yongsan Station for three hours.”
“Do they have that kind of space at Yongsan Station?”
“Yes, they do.”
“I will ask Min-Hyeok to give the tour group special treatment and kindness.”
“Thank you.”
Gun-Ho opened the stock chart of the Kumho Chemical.
“Hmm, after the stock price went up twice, its trendline is about to change to downward. Maybe I should help the trend by selling some of my stock, about 3 billion won worth of stock.”
Gun-Ho had 30 billion won worth of stock of Kumho Chemical, and decided to sell 10% of it, and keep an eye on the chart.
“Once it becomes a downward trendline, the little investors will roar.”
The departure date of the tour to the industrial park in China came around.
“You are leaving tomorrow?”
“Yes.”
“Min-Hyeok already reported that the factory to show to the guests is completed. And they are building two additional factories right now.”
“Right, I heard of it too. It seems that there are two Korean companies that want to move into the industrial park as soon as possible. One is a Korean company in Korea and the other one is a Korean company currently doing business in China. They already paid their security deposit.”
“The tour group will be able to see the construction site of the factory.”
“I think so.”
“Ms. Ji-young Jeong! Do we have any company policy about the business trip expenses?”
“We don’t.”
“Then, give Manager Kang 1,000,000 won for the trip now.”
“Thank you, sir.”
Gun-Ho made a call to Min-Hyeok in China.
“15 people, oh I mean 16 people including Manager Kang will arrive there tomorrow. Treat them well, okay?”
“Don’t worry about it. I already reserved the best hotel and the best restaurant for them. The factory is completed, and I was impressed by their skills and technology. It was really quick.”
“Really? I believe Jinxi Construction Company is one of the best companies in the construction field in China. They have a lot of skillful engineers.”
“They already hung a banner that says they are welcoming the Korean companies’ tour group.”
“Oh, really?”
“And, they placed a large stone tower at the main entrance of the industrial park. It says ‘Jinxi Industrial Park.’ You haven’t seen it yet, right? I will take a picture of it and send it to you.”
“Oh, okay.”
“Also, we prepared karaoke for the tour group. Manager Kang said, he would collect the karaoke fee from the people who would participate in it.”
“I see. Well, good luck and I’m counting on you.”
“Don’t worry about it!”
“Min-Hyeok, is your monthly salary from the joint venture 5,000 Yuan?”
“Yes.”
“I know it’s too little. Just wait until the board meeting. I will raise it then.”
“It’s okay. The company pays for my rent, so it’s not bad. I send my mom the monthly salary I received in Korea.”
“Really? Let’s just do our best here. We will have a bright future.”
“Thank you.”
