Chapter 340
The next morning, Gun-Ho asked for President Song privately .
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"I want to discuss further on the requirement of the company's shares dispersion in order to go public .
"We currently have less than 500 employees . So, with our company's current state, the required percentage on the stock dispersion is 30% which will result in a reduction of the major shareholder's cut . "
"Hmm . "
"Also, if we try too hard to fulfill the 30% of the distribution requirement to our current employees of 260, forfeited shares could occur . "
"That makes sense . Some workers might not have enough money to acquire his or her rightful shares, and they could fail to meet the purchase requirement . Their shares will be forfeited then . "
"That's right . The ideal scenario is that we grow this company to accommodate more than 500 employees before we register with KOSDAQ . That way, we are required to distribute only 10% . "
Pursuant to the KOSDAQ registration prerequisite, an applicant company must distribute 10% of the company shares if the company had more than 500 employees . Otherwise, 30% of the distribution was required .
"It wouldn't be a very preferable situation for the employees either . "
"That's right . "
"We narrowed our options down to two then . We either grow GH Mobile to hire 250 more workers, or we acquire or merge with another company that has 250 workers . "
"It seems like it, sir . The stock brokerage company that will help us register with KOSDAQ can also help us during our stock distribution stage . However, the most desirable way to handle the requirement is to distribute the required portion of our stock to our own employees . "
"I see . President Song, so your job will be to grow this company large enough to have more than 500 employees until we are ready to go public . Or, you can find a good company we can merge with . "
"Okay . "
Gun-Ho asked for the internal auditor .
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"Mr . Internal Auditor, from now on, cease your effort in paying for our company's debt until you hear further notice from me . "
"What do you mean by stop paying for our debt?"
"We already paid off most of our bad debts . So, now, we focus on accumulating our payments from our clients in the company's bank account . "
"We need to continue to pay for our debts as we get our payments from our clients, so we can reduce the interest on the debts . We still have so many debts . "
"Even though we have to pay for the interest, leave our revenue in the bank account for a while . If we can't get our company ready to fulfill the initial share distribution requirement until the time we need to register with KOSDAQ, we will probably have to make an M&A of a company that is in the same field as us . If that happens, we have to be loaded with enough funds to make it work . "
The internal auditor had been in the financial field for a long time . He quickly understood what Gun-Ho intended to do .
"Understood, sir . "
Gun-Ho visited Dyeon Korea that afternoon .
Dyeon Korea was doing well . Its sales revenue was gradually increasing along with its production . When Director Kim and Director Yoon heard that Gun-Ho was in his office, they went to the president's office
"The machine no . 3 and no . 4 are actively manufacturing our products . We requested Mr . Adam Castler to make a request to Dyeon America to ship the machine no . 5 and no . 6 to us . "
"Machine no . 7 and no . 8 are the last machines that Dyeon America is supposed to provide?"
"Yes, sir . Eight machines are their investment-in-kind into this joint venture . If we need more equipment later, we will have to pay for them . "
"If we place all of those eight machines in place and make them 100% productive, what would be the maximum sales revenue we could possibly generate?"
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"Well, I would say about 400 billion won . "
"With the first six machines, our entire production will cover the national demand . Once we get more machines and started producing more, we will have to expand our market to Southeast Asia . "
"I see . As to the hiring of workers who are not at a management level, you don't have to inform me . Just discuss with Mr . Adam Castler before you hire them . "
"Understood, sir . "
After Director Kim and Director Yoon left Gun-Ho's office, Mr . Adam Castler came in with the interpreter—Mr . Lee .
"The three engineers who had been sent by Dyeon America are going back to Seattle next week . "
"Time flies, huh?"
"They were supposed to stay with us for three months, but they have been here for more than three months now . "
"I do appreciate their work and dedication here . "
"They are grateful for the tour in Seoul, provided by the general affairs team's manager the other day . They were very happy when they visited Gyeongbug Palace and Namsan Tower last time . "
"Haha . I'm so glad to hear that . "
"I have one more favor to ask of you . "
"Please feel free to speak . "
"I want to take them to dinner like a farewell dinner . "
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"Of course, we can do that . "
"I'd like to take them to a traditional Korean restaurant where they can experience traditional Korean culture and food, rather than a modernized expensive restaurant or a Korean bar . "
"I will have someone to find one like that in this area—Asan City, Cheonan . "
"I actually talked with President Richard Amiel from Dyeon Japan before I came to your office . He said there is a very special place around here, where he was so impressed the last time he went there . He said you know the place, President Goo . "
"Do I?"
"He said that we can listen to a person playing a traditional musical instrument called Gayageum while we eat . It's in Seoul . "
"Oh, I think he is talking about the bar/restaurant in Hannam Town . "
"That sounds right . That's it . "
"Well, that restaurant is pretty expensive . I can introduce you to that place though if we pay for the dinner there with this joint venture's funds . "
"Sure . We can pay for the dinner as the joint venture's business expense . "
"Okay, then . "
"Their flight is scheduled for next Monday . Can we go there this coming Saturday?"
"Sounds good . "
"Why don't you make a reservation for us? I hope you could come with us, sir . "
Gun-Ho asked for the accounting team's manager . She used to work at GH Mobile as an assistant manager, and she had been reallocated to Dyeon Korea with a position promotion .
"You have our company's business credit card, don't you?"
"Yes, I do, sir . "
"Give it to Mr . Adam Castler on Friday evening . He will need it to treat our guests . "
"Understood, sir . "
Gun-Ho then made a phone call to Ms . Jang in Hannam Town .
"Oh, my . President Goo, it has been a while since the last time I heard your voice . "
"I've been in another city to establish a joint venture company . I couldn't often go to Seoul . "
"I've been hoping for you to come to my bar since our bar's interior has been redecorated . I've read about GH Gallery's art exhibition in a newspaper . I was wondering if GH is the GH I knew, and I was right; the art gallery is located in your building in Sinsa Town . "
"Oh, you learned about our art exhibition in a newspaper . "
"I thought you were just in the manufacturing industry . I didn't know you were interested in art as well . You are a very interesting man, President Goo . Haha . "
"Would you make a reservation for six people for this Saturday? Four of them are Americans . I want to show them the beauty of Korea . "
"Understood . Haha . "