Chapter 156
Gun-Ho made a call to Min-Hyeok in China .
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"Min-Hyeok, I am taking over Mulpa Automotive in China . "
"What? Mulpa Automotive?"
"Yes . Why don't you run that company?"
"What about the industrial park here?"
"Let's take our hands off the industrial park . Managing the industrial park is no fun . "
"That's true, but this is just so sudden . I've never expected this . "
"You said that the industrial park is almost half full, right?"
"As of today, two-thirds of the park is full . "
"The security deposit we have received from the companies so far must accumulate a lot . "
"I believe it must be more than 1 . 7 billion won . "
"Why don't you meet with the president of Jinxi Construction Company?"
"And what do I tell him?"
"Tell him that we are acquiring a company in Suzhou City and that we are thinking of leaving the joint venture . "
"What if he said no? Then what should we do about Mulpa Automotive?"
"Well, we will then have to find someone else who could run Mulpa Automotive; maybe post a job opening on WorkNet . "
"That factory… I want to run it . "
"Why? Are you bored with the joint venture?"
"In fact, even though I have a job title as the president and driving an Audi here, I feel like I'm just a puppet here . "
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"Haha, you think so?"
"All those Chinese people do the actual running of the company . All I do is just sign the report they show to me . "
"I see . "
"But I learned a lot by working here . I now understand the business system in China, and how they operate . That's nice . "
"Really? Well, since you are the president, you must oversee the entire system and had the chance to observe their conducting business at that level . That makes sense . "
"Okay . I will talk to the president of Jinxi Construction Company, and will let you know how it goes . "
"Sounds good . "
Two days later, Gun-Ho received a call from Min-Hyeok .
"I talked to the president of Jinxi Construction . I mentioned our intention to leave the joint venture . It seems that he liked it . He seemed to be really glad to hear it . "
"Really?"
"I guess they don't feel comfortable running the company while I am there . "
"That's understandable . "
"They actually applied to increase their capital stock without consideration to the department of construction of the city . "
"They did? How much will they increase?"
"He said 20 %"
"Hmm, that's not much . "
"Why do they increase the capital stock? They don't have any plan to invest anywhere . "
"They want to justify their asking for us to leave . "
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"It is for a justification?"
"The joint venture's capital is 3 million dollars, right?"
"That's right . "
"How much will the capital be after they increase it by 20%? It will be 3 . 6 million dollars, right?"
"Right . "
"With 3 . 6 million dollars, how much can they give to us? 1 . 8 million dollars, right? Our initial amount of investment was 1 . 5 million dollars, and they need to let us make some money through the investment in the joint venture, right? I thought they would increase the capital stock by at least 30% . "
"Oh, I got it!"
"They will contact us soon . Let's wait and hear what they say . "
"What about Mulpa Automotive?"
"We don't have to run the factory right after we acquire it . Let's take some time . You said you had dinner with the representative of the workers, right? Get along with him, and ask him to gather the workers who used to work for Mulpa Automotive . "
"Okay . "
"Don't forget that we get not only the machines but also the moulds . Some of the moulds are not owned by Mulpa Automotive but by some vendors . "
"Got it . "
"Don't rush . We need to quit the joint venture first before we could actually run the Mulpa Automotive factory . "
Anchang Accountant Office started the sales process of Mulpasaneop; however, there was no one but Gun-Ho who wanted to acquire Mulpasaneop . The sales price of the company was relatively low; however, the acquirer had to take over the enormous amount of debt as well . Two companies made some inquiries about buying the company and then gave up once they learned the exact amount of the company's debt . Once the president received 2 billion won from Gun-Ho, he stopped coming to the company anymore . The court issued a decision that it was ending the court receivership because Mulpasaneop was sold to a third party .
"Congratulations . You are now the president of Mulpasaneop . "
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The auditor who used to be the court officer during the court receivership came to Gun-Ho's office with a draft of the first board meeting minutes .
Gun-Ho read the draft of the board meeting minutes and chuckled .
"The entire board directors attended and elected Gun-Ho Goo unanimously as the president of Mulpasaneop . "
Gun-Ho was using the president's office . He changed the office's entire interior with bright color and replaced everything with luxurious items .
When the accounting manager entered the office, she was surprised .
"Wow . This room used to be very depressing . Now it's so bright and fresh . "
Gun-Ho replaced the frame that had old Chinese characters with a vibrant oil painting . Gun-Ho's tastes in decorating were reflected through his office .
The auditor insisted that they had to have an inauguration ceremony for the new president—Gun-Ho . So the entire workers gathered in the assembly hall and started the ceremony .
On the day of the inauguration, Gun-Ho became deeply emotional . He wanted to have a factory like this for a long time . Gun-Ho finally made his dream come true . He now had a large factory with 250 employees and with sales revenue of 70 billion won .
"They placed a banner there too . "
In the assembly hall, a banner was hanging; it said, "The inauguration of our new president . " Gun-Ho was aware that he took over this company with an enormous amount of debt, but he decided to pay it off gradually as he ran the company . He once thought about paying off the debt all at once with his cash—210 billion won in his stock account .
"Why do we have this many flower wreaths here?"
The factory manager ran to Gun-Ho and explained,
"These are from our vendors and customers . Twenty of them are from raw material suppliers . "
"It's such a waste . "
When Gun-Ho stepped in the assembly hall, every single one of the 250 workers stood up and clapped .
Gun-Ho was about to start his inauguration speech .
The old lady workers from the production department started whispering .
"I didn't know that our new president is such a young man . "
"He acquired this company with the funds from the investors behind him . "
"That's more like it . He is way too young to have such money . "
"I don't care who runs this company . I just need to get paid on time . "
"We received three-month overdue wage because of the court officer . We have three more months of unpaid wage left . "
"That court officer decided to stay with our company; he is now our auditor . "
"What does an auditor do?"
Gun-Ho started talking,
"I know you have been through a hard time with Mulpasaneop because of the company's financial crisis . You will never experience such hardship with this company anymore . I value talented and hard workers . I will absolutely compensate any of you who contribute to our company . On the other hand, I won't tolerate anyone who discourages our hard work, and who spends time without working at this company . "
Someone started clapping and it eventually made everyone in the hall clap . Gun-Ho didn't want to make a long speech at his inauguration .
"I will provide a better work environment for you, and if the company makes more money, I will share it with you all . Please forget about how you have worked so far . We will now start a more effective and more efficient way of working to increase our productivity . "
The workers were clapping, and the upper management level personnel started introducing themselves . The only new person there was the auditor and all other personnel was the same people who had been working for Mulpasaneop for years .