Story of a Big Player from Gangnam - Chapter 916
Chapter 916: Dissolving Private Equity Fund Company (2) – Part 1
The company that was occupying the office across the hall from Gun-Ho’s office moved to the 9th floor when it was almost the end of January. And then, President Geun-Soo Son moved into that office space.
“This office is so spacious that I guess I can have a separate meeting room as well.”
“Make a president’s office too.”
“I don’t need a separate office, sir.”
“Make one even if it has to be small. Also, add some space partitions, so each worker can have privacy. The workers here will most likely work as an analyst, and they will need some privacy to concentrate on their works.”
“Yes, sir.”
While President Son was still in the office, Gun-Ho asked Director Kang to join them.
“You two have met each other already, haven’t you, Director Kang and President Son?”
President Son replied, “I’ve seen him several times before whenever I visited this office to see you, Mr. Chairman, but we haven’t officially met yet though.”
“Oh, then allow me to introduce you two to each other.”
Gun-Ho introduced them, “Mr. Director Kang here used to work in a bank as a manager before he retired. He has been working with me for several years now in GH Development. He has several relevant licenses including real estate license, building management license, and real estate asset management license. You can tell that he is an expert in the real estate field.”
“It’s very nice to meet you.”
Gun-Ho continued, “This is President Geun-Soo Son. He worked in Gangnam Bank as a team lead in its global asset strategy department. He will be working with us by running one of the GH companies which would be an asset management company.”
“Oh, you worked in a bank as well. A team lead in the asset strategy department in a bank is a hard-to-get position. Well, It’s a pleasure meeting you.”
“Mr. Director Kang, you seem to be senior to me.”
“Haha. But, I used to work as a manager in a bank while you worked there as an upper-level manager. I look forward to working with you.”
Gun-Ho looked at Director Kang and said, “Their office will need some renovations. Give President Son the contact number of the interior design company that we are working with.”
“Yes, sir.”
“President Son will be running an asset management company that will also be part of GH Companies. However, since they are leasing an office here in our building, we will need to receive their rent every month for the space.”
“Understood, sir.”
“GH Media on the 17th floor, they are paying their rent on time, right?”
“Of course, sir. They have never been late in paying their rent so far. Also, GH Gallery in the basement and also the rooftop book café, which are part of GH Media, are paying their rent on time too.”
“Hmm, okay.”
After Director Kang left the office, President Son handed a paper to Gun-Ho, showing that SH Investment Partners was officially dissolved.
“I filed dissolution papers with the government, and this is the paper.”
“Hmm, well done. Do we have a name for the new company that we are about to establish?”
“I haven’t decided it yet, sir. I’m thinking of choosing a name either Rich Investment Partners or Win Win Investment Partners.”
“What is the largest asset management company in Korea?”
“Samsung Asset Management Co., Ltd. and Mirae Asset Financial Group are the two tops, sir. KB Asset Management Co., Ltd. and Shinhan Asset Management take the third and fourth position in size.”
“Is that right?”
“Even though they are within the top 5 in Korea, they are not even in the top 100 internationally.”
“Which asset company is the largest globally then?”
“BlackRock and The Vanguard Group, sir.”
Gun-Ho thought about it for a moment with his eyes closed, ‘Rich Investment Partners? Or Win Win Investment Partners? Those two all sound like an amateur. This will be part of GH companies, and I’m not hiding anything in running that company. Maybe I should just use my name like all other GH companies.’
Gun-Ho said as he opened his eyes, “Well, let’s just name the company GH Asset Management Company.”
“GH Asset Management Company, sir? Alright. I will then form a company with the name and file it with the government.”
“Its capital will be 10 billion won. The company will be owned by 6 shareholders. GH Mobile will own 3%, GH Machines will have 3%, GH Development will take 2%, GH Media will take another 2%, GH Logistics will own 2%, and Gun-Ho Goo will have 88% as an individual.”
“Yes, sir.”
“After you open a business bank account, please bring me a copy of the bank account information. I will then ask each of the shareholders to send the investment fund to that bank account, according to their ownership interest.”
“Yes, sir.”
“How do you plan to hire workers? Are you going to place a job opening in WorkNet?”
“WorkNet? I will rather place a job advertisement in economic newspapers saying that we are inviting a fund manager who will be working with us.”
The renovations in GH Asset Management Company’s office started, and it made a lot of loud noises. Gun-Ho could clearly hear those loud noises because it was right across the hallway from his office.
“Wow. It’s really loud since they are doing the work right there.”
Gun-Ho picked up his coat and walked out of the office by himself. He spent the day going to a theater and watching a movie and walking around a traditional Korean market. When it was almost evening, he came back to his office.
Gun-Ho thought that the renovations would have been completed, but it continued the following day. Gun-Ho again walked out of the office by himself to avoid the loud noises. He went to Noryangjin Town where he used to spend his youth studying for a government job exam. He went to the OneRoom where he used to live at that time. Nothing much seemed to be changed. Students and exam preparers, who all looked pale, were walking around the area.
“These young people are spending several years of their youth in this place solely to study for an exam. I’m not sure if this is the right way to spend their young years like this.”
Gun-Ho walked on the street where all sorts of Cupbabs (Cooked rice with other ingredients served in a paper cup) were found. The street vendors that were selling cupbabs were now selling on a neat and nice tented cart on the street. They probably received some support from the district office in the area. The food looked the same as before. Several exam preparers were having their cupbabs in the cold weather standing in front of the tented cart.
“Maybe I should try that too, like the old days.”
Gun-Ho walked to one of the tented carts, but when he actually saw the food, he was not sure if he wanted to eat them. In the old days, cupbabs were desirable meals for him. Sometimes he couldn’t even afford to have cupbabs, but now, Gun-Ho didn’t want to eat those cheap foods. He certainly changed.
“That doesn’t look so clean.”
Gun-Ho went to the townhouse behind the Dongjak District Office, where he used to live when he was running a Vietnamese noodle soup restaurant behind the gas station. The alley looked spacious at that time, but now it looked so narrow and dirty. The townhouse looked unchanged. It was still old and rusty.
“I wonder if I would be able to live in this place again if I have to.”
Gun-Ho thought that he would never be able to live in a place like that. In the old days when he had moved to this townhouse, he was so happy because he was getting out of the OneRoom where there was no window. It felt like a million years ago.
“How did I live in a place like this before?”
Gun-Ho was walking out of the alley, and several old men were passing by. They were holding black vinyl bags, and they looked familiar. They were Gun-Ho’s neighbors in the old days. Gun-Ho lowered his head and kept walking. The weather was cold, and the wind was blowing.
