Story of a Big Player from Gangnam - Chapter 475
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?”
“No. The Korean companies in Suzhou Industrial Complex are constantly increasing their product orders.”
“90% of the current clients are Korean companies, right?”
“I believe so.”
“When we transfer the sales company to Dyeon Korea, I want to sell it for a high price. You know, for the land that we purchased for storage, we paid about 300 million won. Is there a way to get an appraisal that shows its current value as 450 million won?”
“Well, I will need to discuss it with Fang di chan pinggu shi (real estate appraiser).”
“Pinggu shi?”
“Yeah, there is a system here like that. To be an appraiser, a person has to major in real estate in a 4-year college. In addition, he or she needs to gain at least two years of work experience in the relevant field, and then they can finally sit for an exam.”
“Really?”
“Well, don’t you think 450 million won is a bit of an exaggerated price? There was an incident here where a few appraisers overvalued a real property intentionally, and they eventually got caught. I read it from a newspaper.”
“If it goes well, I will give a commission to Dingding.”
“Okay. I will work on it. I’m still trying to digest all of the information that you just told me. I was so unexpected to hear it all.”
“You will have to make Dingding understand what’s going on with her company.”
Gun-Ho went to work in the GH Building in Sinsa Town.
Secretary Yeon-Soo Oh brought a mail to Gun-Ho. It was the pamphlet that Mr. Sakata Ikuzo sent to him from Japan. His art exhibition was finally set for mid-June in Yokohama Art Gallery. According to the pamphlet, the world-renowned Mr. Sakata Ikuzo would open an art exhibition with his artworks that were made of wood and metal. The wording that was used in the pamphlet was interesting. It said,
[Mr. Sakata Ikuzo used to work in a global company— Lymondell Dyeon— in the U.S. He was not just an engineer, but he was more like a master in the field. He is now offering the opportunity to meet his artworks. You will have an opportunity to see his peculiar artworks that were made of wood and metal in his art exhibition in Yokohama.
The sculptor— Mr. Isamu Gomei— remembered the moment when he saw Mr. Sakata Ikuzo’s artworks for the first time. He said he was shocked. He further stated that ‘If we must say that Miyamoto Musashi is the number one swordsman, Mr. Sakata Ikuzo is the number one utility-knife-man.]
Gun-Ho chuckled as he read the pamphlet advertising Mr. Sakata Ikuzo’s art exhibition.
‘What? The number one swordsman is Miyamoto Musashi, and the number one utility-knife-man is Mr. Sakata Ikuzo? That’s a funny way to put it. Anyway, it’s always good to see the tendency in Japan where they treat engineers favorably.
I want all of the engineers, who are working for my companies, to be treated well and respected as they eventually become internationally renowned engineers. I want them to live their life without worrying about money. I’m not sure if that will happen though.’
Gun-Ho called for President Jeong-Sook Shin to show the pamphlet that Mr. Sakata Ikuzo sent to him. President Shin carefully looked through the pamphlet.
“The pictures of his artworks shown in the pamphlet look like real animals. I can’t tell whether these are pictures of his artworks or actual animals. It’s amazing.”
“You should go to his art exhibition and look at those carved figures yourself. I will go there too.”
“The exhibition will be held after I move the GH Media’s office into this building.”
Gun-Ho received a call from Dyeon Korea’s Mr. Adam Castler. Secretary Yeon-Soo Oh interpreted for Gun-Ho real-time.
“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.’
