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Published at 21st of June 2019 01:00:06 AM
Chapter 117
People entered the event hall for the contract signing of the joint venture .

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There were journalists present as well .
The event hall looked just like the one when they had signed the letter of intent . They added a big flower basket on the table this time .
The president of Jinxi Construction Company signed on the contract and the journalists started taking pictures of the moment . Everything looked about the same at the time when they signed the letter of intent except there was one more person standing behind Gun-Ho—the interpreter, Eun-Hwa Jo, and she would appear on the picture this time .

Gun-Ho hadn't transferred all of his investment money of 1,500,000 dollars to the joint venture yet . He sent 150,000 dollars for now as a start . The money was sent through Kukmin Bank in the Shanghai location to Industrial and Commercial Bank of China in Kunshan City .
"The business will start with this money . "
The vice president of the joint venture—Kkangsin Kkao who used to be the planning director of Jinxi Construction Company was called Kkao-jjong—President Goh—by Chinese people .
Kkao-jjong was looking for Min-Hyeok .
"Jin-jjong—President Kim—! We received funds from Korea . 30 workers from Jinxi Construction Company will join the joint venture . Let's talk about our organizational structure . "
"Okay . "
Min-Hyeok and Kkangsin Kkao discussed what departments they want to have, and how to assign the workers to each department and so on . In fact, most of the work was done by Kkao-jjong . He was in his 50s, and he had twenty years of work experience . He used to be a planning director in a construction company . He made the organizational structure, and Min-Hyeok added some idea to it .
"I will closely monitor the joint venture business so they don't waste the precious money that was sent from Korea . That's my role in the joint venture . President Goo told me the same thing before he went back to Korea . "

On the plane back to Korea, Gun-Ho thought that Seukang Li was a smart government official .
"He developed the vacant lot in Kunshan City and set up the electricity and water system to build an industrial complex there . That will be recorded as one of his major successful projects . It costs a lot of course, but if we can successfully attract enough companies, then it is a success . "
Gun-Ho smiled .
"He wanted me to join the joint venture in order to attract Korean companies into the industrial complex . They didn't ask me to be their co-venturer because of the investment fund . I'm sure they will let me go once they have enough companies in the industrial park . If the business goes well, and they become financially affluent, they will increase capital stock without consideration and ask me to leave . Even if I stay, the duration of the joint venture is set for twenty years, so I will leave the business then anyway . "

Gun-Ho calculated how much he would make if they increase the capital stock by 30% .

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"My shares will be worth 1 . 95 billion won . I invested 1 . 5 billion won, so I would make 450 million won . That's not bad . However, it's not just money I could make from this joint venture . I will learn about Chinese companies, and their business environment, rules, and customs so when I am ready to make an M&A of a Chinese company, I can do it effectively and efficiently . Hahaha . "

A flight attendant brought the inflight meal to Gun-Ho .
"Thank you . "
Gun-Ho thanked the flight attendant, and she nodded her head to Gun-Ho in return .
"The female flight attendants of Asiana Air are always so pretty . Anyway, how was the fight going between the two owner brothers of Kumho Asiana Group?"
Gun-Ho wanted to check his Kumho stock once he arrived in Korea .

Ji-Young placed a fax they received on Gun-Ho's desk .
"What is this?"
It was a weekly report that Min-Hyeok sent to him from China .
"Hmm, where did he download this report form? It looks alright . I guess his 1 and a half years of work experience at a quality assurance department is being utilized after all . I do like his paperwork . "
Gun-Ho reviewed the weekly report .
"They finished organizing departments and personnel placement . They found a house to rent for the president and determined the amount of wage for each worker . They also implemented the company policy . The organizational structure and the status of current expenses are attached . Okay, this is good . Min-Hyeok seems to be doing a good job . Since I put my precious 1,500,000 dollars in this business, I, of course, have to have someone there to monitor how my money is spent . That way they will be careful with spending the money . "
Gun-Ho signed on the report .
"I will prepare a separate folder for the reports sent from the joint venture . "
"Sounds good . "
Manager Kang was craning his neck to look at the weekly report of the joint venture .

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"Sir, do you want me to ask him to send a daily report instead of a weekly report?"
"It's okay . They should be very busy doing business especially in the beginning . "

Gun-Ho smiled while reading an economic newspaper .
"The younger brother of Kumho Asiana Group is pressing his older brother to fulfill the joint management agreement?"
Gun-Ho was not sure what the joint management agreement was about, but he thought the owner brothers' fight would start soon again .
"I've purchased an additional 5 billion won worth of the Kumho Chemical stock a month ago . They already tried to get rid of little investors once . Let me see how much the price had increased . "
The price of Kumho Chemical stock had increased twice .
"Hahaha . Of course . My 15 billion won became 30 billion won . "
Gun-Ho was smiling broadly while looking at his stock account when Ji-young asked him,
"Sir, you have any good news? I've noticed that you have been smiling for quite a while . Any funny news articles you found online?"
"No, nothing . I was just thinking about something that happened a long time ago . "

Gun-Ho was thinking whether he would sell all of the Kumho Chemical stock now since he made 15 billion won already .
"Nah . The real fight between the brothers starts now . New little investors will begin to purchase the stock . They will once more try to get rid of them soon . This time I will do the work with my money . I will leave the stock for one year and wait for the price to increase again substantially . Hahaha . "

Min-Hyeo stated on the weekly report that they placed an advertisement in the newspapers in the Shanghai and Suzhou City area . He sent the actual newspaper with the advertisement to Gun-Ho two days later .
"The advertisement looks good . I guess the company has someone who knows how to design . "
Gun-Ho made a call to Min-Hyeok .

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"How's it going? You must be very busy there . I just received the newspaper advertisement . Have you received any inquiries yet?"
"We have received inquiries from over ten companies . I guess we would make a contract with two of them . Ten companies were Korean companies that were already doing business in China . I explained to them what the industrial park is about . Kkao-jjong has been talking with several Chinese companies, and one of them would make a contract soon . "
"Really? You did a good job . "
"We think we will need more companies who show interest . So we are working on an advertisement we could place in a Korean newspaper . "
"Really? There should be advertisement firms there who could help you with the advertisement design . I mean Korean advertisement firm . "
"Okay, I will find one . But we will still have to work on the contents first . Once we are done with a draft, I will send it to you . Well, I mean I will send you a report . "

Min-Hyeok sent Gun-Ho a draft of the advertisement that would be placed on the Korean newspaper .
Gun-Ho called for Manager Kang and Ji-Young .
"Look at this draft . "
Manager Kang and Ji-Young carefully looked at the draft .
"Is this done in China? I guess there are many design professionals in China . "
"No . It was designed by a Korean company there . The contents and words are done by Min-Hyeok . "
"I guess he is good at it . It looks good . "
"I can show it to my friend next door—the design company—for her opinion . "
"Sure . "
Ji-Young took the advertisement draft and went to the office next door .

Jin-Young came back to the office while smiling .
"She said it looks really good, and she confirmed that it was done by a professional . "
"Really? Okay then . Manager Kang can start calling newspapers and get a price quote, and also discuss with Min-Hyeok when we should make a reservation at the Koreana hotel for the presentation . "
"Okay, sir . "

Gun-Ho headed to the Japanese restaurant that was run by President Hee-Yeol Byeon in Yuksam Town for lunch . It was after lunchtime, and there were not many people in the restaurant .
"How's business, sir?"
"Hey, President Goo . You didn't bring your car today?"
"I walked all the way here from the office . It is a good exercise . "
The chef with a shaved head came out from the kitchen to greet Gun-Ho while laughing .
"President Byeon, your business seems to be doing very well . President Gwang-Ho Yoo of Yangji Construction said last time that this restaurant is always crowded with customers . "
"Yes, we do have many customers coming in, I guess because my nephew is a very good cook . The problem is our debt . "
"What about it?"
"Since the restaurant is located in Gangnam, we had to pay high premium and rent . "
"How much did you pay?"
"We paid 300 million won for the premium and the rent altogether . We borrowed money from a bank using my condo as collateral, so we have to pay the loan interest every month, and it is a lot . So even though we are having a lot of customers, we don't make much money . "
"I guess the bank who lent you the money is making money instead . "
"I guess so . Oh, a customer just came in . Welcome to Minado!"
President Byeon greeted loudly and ran to the new customer while carrying the menu book .
"Hmmm . They have debt… and it is holding them back . "
Gun-Ho talked to himself .

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