Chapter 268
GH Development had the largest invested fund among Gun-Ho's companies by acquiring RiverStar Building in Sinsa Town .
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Its capital was 40 billion won and the loan from a bank was 165 billion won . However, this company was generating revenue based on its real estate investment, unlike other companies which require labor as an important part of resources to generate money . Therefore, it was a less risky business .
"Well, this company is just self-sufficient . We get rents from our tenants in the building, and we pay our workers with that income and also pay to the bank for the loan interest . "
The good thing by keeping this building is that Gun-Ho appeared to be a wealthy man who owned a very expensive building, and also the value of the land would keep increasing as time goes on .
What about GH Media? Gun-Ho invested 300 million won in this company . It was a small start-up . Well, Gun-Ho recently invested an additional 300 million won in order to allow them to publish a cartoon series on world history, which was very popular in Amazon . com . However, 600 million won was not a substantial amount of money to Gun-Ho, and he wouldn't lose much even if this company would go bankrupt someday . He established this company in case he might have an opportunity to do some entertainment business with China .
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The companies that Gun-Ho focused on the most were GH Mobile and Dyeon Korea .
GH Mobile was formerly known as Mulpasaneop . Gun-Ho changed its name to GH Mobile once he acquired the company . Gun-Ho invested approximately 7 billion won into it . Gun-Ho purchased this company from the previous owner—President Se-Young Oh—for 2 billion won and assumed the company's substantial business debt . He later added an additional 3 billion won to pay off some urgent debts . Additionally, he put another 2 billion won when he decided to build a new factory in Jiksan Town .
For accounting purposes, the additional 3 billion won was recorded as a loan from Gun-Ho to the company, and another 2 billion won was recorded as Gun-Ho put the fund into the company as the president of the entity . So once the company got back on track, Gun-Ho would be able to get those 5 billion won back .
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Dyeon Korea was an investment of GH Mobile .
The paid-in capital was 10 million dollars . However, GH Mobile could put 1 million dollars into the joint venture in cash and would invest the rest of the dues in kind by contributing the factory which was being built in Asan City . Dyeon would send in cash worth 500,000 dollars to the joint venture and would provide raw materials and their old equipment as their investment-in-kind . To Dyeon, it wasn't even a huge investment at all . They would record the value of their old equipment higher than they actually were .
The first goal of Gun-Ho's Tokyo planning was that he wanted to register GH Mobile and Dyeon Korea with KOSDAQ .
Even though he probably had to reduce his shares by doing so, making those two companies a KOSDAQ registered company was the only breakthrough he could think of . He, of course, had a lot of cash in hand; he had 170 billion won in his stock account and an additional 4 billion won in his bank account in Gangnam . However, he determined that he would never ever put all he got into his business . That was what he learned bitterly while he was acquiring his company . Putting all he got into a business was the most stupid thing a man could do .
Gun-Ho once asked a few questions to himself and answered those questions by himself .
'Say, an armed robber is asking me to give him my 170 billion won stored in my stock account . Would I give it to him, or would I rather let him kill me? I would let him take my life instead of taking my 170 billion won . '
Gun-Ho then yelled looking up at the sky .
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"If someone asks me whether money is more important or a person is more important, I would say that money is more important than a person . And if someone asks me whether my reputation is more important or my money is more important, I would say my money is more important . "
He continued to yell while looking up at the sky,
"If someone reminded me that I wouldn't be able to take my money with me when I die, I would say without hesitation that I will keep my money until the moment I stop breathing . "
Gun-Ho remembered what Chairman Lee of Cheongdam Town said when Gun-Ho brought some Jokbal to share with him at the fishing site in Pocheon City .
"These Jokbal look so delicious . "
"I bought them from a local restaurant in downtown, Pocheon City . The restaurant is small, but its location is very convenient . You can dine in, and they have a very convenient parking lot for a vehicle or motorcycle . Since the location is excellent, I guess they won't sell the restaurant to anyone, but they will probably pass it on to their children . "
Chairman Lee smiled and shook his head .
"You are wrong . "
"Huh?"
"The correct answer is… the restaurant owner wouldn't even pass on the restaurant to his children . "
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Gun-Ho couldn't understand the meaning of it at that moment, but what Chairman Lee said that day had resonated in his mind for a long time .
Speaking of the devil, Gun-Ho received a call from Chairman Lee of Cheongdam Town at that very moment .
"President Goo? Are you in Seoul right now? Or are you in Jiksan Town?"
"I am in Seoul, sir . "
"I am actually passing by your GH Building where you are at right now . I am on my way to the Catholic University of Korea, Seoul, St . Mary's Hospital, and you crossed my mind when I saw your building . "
"Catholic University of Korea, Seoul, St . Mary's Hospital? Are you ill, sir?"
"No no . Not me . Master Park is in that hospital, who was staying in Goesan Town . "
"Master Park, sir?"
"Yes, he is diagnosed with gastric cancer . It's early-stage cancer . It's not even considered serious these days . "
"I should visit him at the hospital as well then . "
"You don't have to . You are not that close to him, anyway . How's your business?"
"It's doing well, sir . "
"That's good to hear . Well, then I guess I have to let you go . "
Chairman Lee then hung up the phone .
Gun-Ho went back to his thoughts on how to execute his Tokyo plan .
"In order to register my companies with KOSDAQ, I have to fulfill their requirements such as keeping a certain level of debt ratio and sales revenues and things like that . I had done some accounting work before, but I have never experienced any KOSDAQ registration work . "
Gun-Ho thought of GH Mobile's internal auditor, Mr . Hee-Suk Goh . He first came to GH Mobile to oversee the court receivership, and then he decided to stay and work for GH Mobile as Gun-Ho offered him a position .
"He had handled the court receivership of many companies, and he also used to work for a bank as a branch manager . He might have some experience with KOSDAQ registration work . Or maybe not . Should I hire someone who is well familiar with the work?"
At that moment, Gun-Ho recoiled from the thought that S Group's former vice president probably knew well how to do it . Gun-Ho would soon have lunch with him .
"That's right . He used to work as a CEO of a mid-sized firm and a vice president for a large company . He probably has experience with KOSDAQ registration . I will ask him during our next lunch appointment . "
Note*
Jokbal – Korean dish made of pig's trotters with soy sauce .