Chapter 724: Contract with Stock Brokerage Company (1) – Part 1
Gun-Ho came back to his office in GH Building, Sinsa Town after enjoying delicious food with a little bit of liquor at the Ritz-Carlton Hotel.
When he was having his afternoon coffee while relaxing in his office, that Secretary Yeon-Soo Oh had brought to him earlier, GH Media’s President Jeong-Sook s.h.i.+n entered his office.
“I’m leaving for Shanghai City tomorrow, sir. You said that all I need to do there is to sign the paper, right?”
“Yes, you just need to sign the investment letter of intent. If a news reporter asks you why you made this investment decision, just tell him or her that you are fond of the movie scenario. The amount that I promised them to invest in their movie production is 5 million dollars. It’s approximately a bit more than 5 billion Korean won.”
“I think I was told of it.”
“If the investment letter of intent that they would give you to sign indicates the amount of our investment more than the amount promised, do not sign it.”
“Understood, sir.”
Gun-Ho added, “According to Director Sim, the movie scenario is not bad at all.”
“I haven’t had a chance to read the scenario yet, but I did read their synopsis. Haha.”
“That’s good enough. I was told that it was written by a famous screenwriter in China—Ailing Feng. It seems that Director Sim modified it a little bit.”
“I heard about it too. When you actually send the investment fund of 5 million dollars, you will make the investment under the name of GH Media, right, sir?”
“Of course. All the incoming and outgoing funds related to it will be recorded as part of GH Media’s accounting.”
“Understood, sir. Well, I will try to enjoy my trip.”
After President s.h.i.+n left the office, Gun-Ho took a short nap.
“Because of the sake that I had with my lunch earlier, I feel so sleepy.”
Gun-Ho walked to his desk after drinking a bottle of water and turned on his computer to surf the internet at his desk. At the moment, he received a call from Jae-Sik Moon.
“It’s me. Are you in the office right now?”
“Yeah, I’m in GH Building.”
“Okay, then. I have a few things to make a report to you.”
“You don’t have to be that formal with me by saying that you are reporting to me. Just say that you will be telling me things that are going on your side.”
“The joint venture is going okay. They are continuously constructing the terminal building, and now they are working on the second floor.”
“Is that right?”
“But they are still giving me an empty threat though. They once told me that they are currently contacting a company in Hong Kong as their new partner since we are not sending the second investment funds to them.”
“Let them do it. Whenever they talk about the second investment funds, just keep telling them that they have to change the owners.h.i.+p of the land to the joint venture as promised.”
“Yeah, I’m doing it.”
The phone connection seemed to be not very stable. It sounded like it was disconnected for a second, and Gun-Ho could hear Jae-Sik’s voice again.
“And, we finally opened the pizza restaurant.”
“Really?”
“A lot of elementary schoolers are coming with their dads and moms.”
“Yeah, I understand how their parents would feel. If your kid wants to eat a pizza, you should buy it for them, right? Especially in China, most of them have only one child because of the government policy in the past, so their child must be so precious that they would spoil them.”
“We are now making about 7,000 to 8,000 Yuan per day.”
“Hmm, I see. The area was depressing before we opened the KFC and the pizza restaurant. Now, the area will become popular and will get more traffic.”
“When I ask a taxi driver to go to Huaxi Road, many of them don’t know where it is, but when I ask them to go to the KFC on Huaxi Road, most of them know the place.”
“It became a landmark, huh?”
“So, now, we are making 33,000 Yuan on a daily basis if we combine the sales revenues of the three restaurants altogether.”
“How many workers did you hire?”
“About 30 people. It only costs us around 12 million Korean won for the entire labor.
“Really?”
“There is an office s.p.a.ce on the fourth floor in the same building as our KFC. It just came out to the market for lease. It’s 20 pyung large. I’m thinking of taking that s.p.a.ce as well.”
“Yeah, I think it’s a good idea. You probably need an office to manage all of the three restaurants there. You need a place to take care of paperwork like accounting.”
“Once we get the office s.p.a.ce, Soon-Young’s mom wants to do the management work of the three restaurants in the office and also do some business through the internet as well.”
“Business through the internet?”
“Yeah. She wants to sell some Korean products online. She is planning to limit the service in the Guizhou Province area though.”
“Hmm, really?”
“Guizhou Province is around 170,000 km2. It’s a lot larger than the entire South Korea.”
“Yeah, it sounds like it since South Korea is only about 100,000 km2. What about the population?”
“They have about 35 million people. It’s less than the population in South Korea, but it has more people than North Korea.”
“Yeah, that’s right.”
“So, she wants to use the office here as the main office of all of her business going on. She will sell Korean baby formulas, face masks, beverages, clothes, and stuff like that all over the Guizhou Province. It’s not going to be her personal business, but she’s going to do it with the name of GH Food Co., Ltd.”
“I like her idea of the business, but will she have enough time to do it since she has to manage the three restaurants there?”
“She is thinking about bringing her brother here.”
“Her brother?”
“Yeah, my wife has a brother who doesn’t really have any special skills to work with as a professional. He works part-time sometimes and stays unemployed sometimes, so she wants to work with him.”
“We have to pay him, right?”
“Of course, we will.”
“Well, do what you think is good. I’m not in a position to give a direction about how to run the business in China.”
After getting off the phone with Jae-Sik Moon, Gun-Ho thought about it.
‘They want to sell Korean products to the residents in Guizhou Province only? I hope the business succeeds. Anyway, it’s really nice that those three restaurants are doing well. Their annual sales revenue will be substantial, I guess.’
It was Thursday.
Gun-Ho went to work in GH Mobile in Jiksan Town. President Song, Director Jong-Suk Park, and a.s.sistant Manager Ji-Woong Kim were not there, but they already left for the U.S for the business trip.
Gun-Ho called for Manager Chang-Hoon Seo in the sales department.
“Can you tell me about our current clients, and how much percentage they take up in our sales?”
“A Electronics is taking up 30% of our total sales, and H Group and S Group are our second major clients equally as they take up 15% for each. Egnopak and Mandong Company are 10%, and the other companies take the remaining 20%.”
“I see some changes from early last year.”
“That’s right, sir. Early last year, the volume of product orders from A Electronics and H Group was not significant, and it has increased substantially.”
“What’s our monthly sales revenue then?”
“We exceeded 13 billion won last month.”
“We can then safely antic.i.p.ate making 150 billion won this year.”
“That’s right, sir.”
“Are we getting any claims filed for defective products by our client companies?”
“No, we haven’t seen any claims lately. I believe that the research center is the biggest contributor to it. Their testing function has improved a lot. Also, our production workers’ proficiency has been enhanced substantially as well.”
“You used to work in the general affairs department, and you have been promoted to a manager position as you were sent to the sales department. How do you like your current work in the sales department?”
“I like the work in the sales department better. I think I do have an apt.i.tude for it, sir.”
“Mr. President Song told me that you are a hard worker, and he is relying on you. Keep up the good work.”
“Yes, sir.”