Story of a Big Player from Gangnam - Chapter 123
Chapter 123: Requital (2) – PART 2
Gun-Ho lent 200 million won to President Park of YS Tech.
President Park deeply appreciated Gun-Ho’s help.
“Thank you so much, Mr. Gun-Ho Goo. You are lending me the money with a bank interest. I do really appreciate it.”
“I am sorry that I couldn’t get you a better deal for this.”
“Don’t say that. This is the best offer I could receive. I’m sure that my employees will be very happy. Mr. Gun-Ho Goo, I feel much happier when I see my employees being pleased rather than when my personal assets increase.”
“I do respect you, sir, with your noble mindset.”
“Thank you. Oh, give me your bank account number where I can send the loan interest.”
“This is a copy of my bank account. You can use this account to pay the monthly interest.”
“Here is my statement saying I transfer you all of my factory equipment if I can’t pay you back.”
Even though Gun-Ho lent his money to the president of YS Tech, he knew the company’s business wouldn’t get better.
“YS Tech won’t be able to survive without Mulpasaneop. If Mulpasaneop doesn’t stabilize its business and financial situation, YS Tech will continuously suffer, and I won’t get repaid for the money by them.”
Gun-Ho thought about the value of the YS Tech factory equipment in case the president couldn’t pay him back.
“It’s not going to be even 20 million won. However, I feel like the burden was being lifted off my shoulders. I sort of paid off the generosity the president gave me years ago.”
Gun-Ho felt good, and he hummed while driving back to Seoul.
Gun-Ho noticed that many shares of Kumho Chemical started appearing on the market for sale.
“Hmm, they started moving.”
The stock manipulators put some of their stocks on the market for sale and the price of stock began to fluctuate.
“F*ckers! Why don’t they leave it alone?”
Gun-Ho joined the movement and put his stocks worth of 3 billion won on the market for sale. The price of the stock started going down. The little investors were clamoring.
“Why is the f*cking company not doing anything about it? Are they not monitoring their stock?”
“I will go to their next board meeting and make a complaint!”
The little investors were having a heated discussion about the stock in the online stock discussion website.
The next day, the manipulators continued to sell their stocks.
“I guess these manipulators don’t have enough fund to wait anymore. Once the price became double, they started selling their stocks. They should have kept them until the price went up more.”
Gun-Ho sold his 5 billion won worth of the stock, and the price went down even more.
The little people clamored fiercely.
“What’s the bottom of this?”
“Is the company on fire? What’s going on? How come does the stock price go down rapidly?”
Once the price of the stock went up a little bit, many little investors decided to sell the stocks bearing the loss.
Gun-Ho kept monitoring the stock.
“As soon as the stock market opened, people started selling the stocks. Okay, then I’m selling mine too.”
Gun-Ho put his stock worth of 3 billion won on the market. The price of the stock went down steeply. The little investors panicked. The representative of the Kumho Chemical was having a hard time explaining the situation.
“Nothing special is going on with the company. The stock price fluctuation is just a temporary situation due to the demand and supply.”
Gun-Ho felt sorry for the little investors, but he sold all of his stocks of Kumho Chemical that day. He participated in the stock manipulators’ work.
Most of the little investors sold their stocks in fear even though they had to bear the loss.
Gun-Ho opened his stock account.
“The estimated value of the stock was 30 billion won, and I actually made only 28 billion won by selling the stock because I participated in selling the stocks even when the price was going down.”
Gun-Ho lost 2 billion won but it was okay because he was going to buy the same stock again at a lower price. Once Gun-Ho started buying the stock after the stock price went down low enough, the manipulator began to buy the stock as well. The trading volume indicated the fact.
Once Gun-Ho purchased back the stock worth of 28 billion won, the price of the stock increased. An article in an economic newspaper talked about it.
[After the steep price drop of the Kumho Chemical stock, the price of the stock went up again and stabilized. The company was doing well and its international sales have been growing. The world petrochemical industry is optimistic.]
After the positive news articles on Kumho Chemical, Gun-Ho’s estimated value of the stock became 30 billion won again. However, since he purchased the shares at a lower price, the number of shares he owned now was higher than before.
“The price of this stock will stay about the same for a while. The remaining little investors will gradually sell their stocks. Their average price per share of the stock is higher than mine.”
Gun-Ho closed the stock trading website.
“All I need to do now is to wait. The price won’t change much for at least several months from now. The people who purchased the stock on credit or with a loan will have to sell their stock sooner or later even though they would lose money by doing so. Money always takes the rich’s side.”
Gun-Ho received a text message from Attorney Young-Sik Kim at Kim&Jeong; he wanted Gun-Ho to call him.
“It’s about lunchtime. I guess it is a good time to talk with him.”
Attorney Kim’s phone rang and he answered the phone.
“Hey, it’s me.”
“What’s up?”
“Do you remember Richard from Lymondell Dyeon, who you met last time? He is visiting Korea soon.”
“Does he want to have a drink again?”
“No. This time he is visiting an automobile parts manufacturing company in Pyeongtaek City.”
“Really?”
“It seems that he is coming to visit that company to discuss the possibility of establishing a factory for Lymondell Dyeon.”
“I hope it goes well.”
“He actually wants you to come with him when he visits that company.”
“Me? Why? I have nothing to do with automobile parts stuff. I am doing a rental property business.”
“He likes the fact that you used to work at a plastic factory as a mechanic.”
“Haha. I was just a factory worker. Why is he interested in my humble factory experience? He would be able to meet with lots of engineers with Ph.D. in that company’s research center.”
“Richard has good eyes in recognizing the right people. Why don’t you join him? You will learn a lot of new stuff.”
“I can accompany him, of course; it is no problem at all. However, I’m afraid that I might not be of any help to him.”
“What about next Wednesday?”
“Okay, Wednesday sounds good.”
“By the way, aren’t you going to the golf field yet? You have been practicing golf for a year now.”
“Sure. I guess it is about the time. I will purchase a golf membership for the field.”
“A golf membership? That is very expensive. The price of the membership is in the range from several tens of millions to several hundreds of millions of won. I use the business membership of Kim&Jeong whenever I need to go to the field.”
“Is that so?”
“Let’s have a round of golf with my law firm’s membership when President Amiel comes to Korea.”
“I don’t want to impose.”
“Don’t worry about it. Amiel is a bad golf player. You can purchase your own golf membership later.”
“Okay then. Let’s do that.”
