Chapter 384: 384
A female manager was in charge of the accounting team of Dyeon Korea . She had used to work at GH Mobile in its accounting department and she was promoted to a manager position as she was relocated to Dyeon Korea . Her name was Myeong-Sook Jo .
Sponsored Content
Gun-Ho made a call to Manager Jo .
“Manager Jo? It’s me, the president . ”
“Yes, sir . ”
“How much accounts receivable does Dyeon Korea have as of today?”
“It’s 1 . 8 billion won, sir . ”
Accounts receivable was an amount of money that was expected to be paid by a client for the goods or services already rendered .
“What about accounts payable?”
“It’s 600 million won, sir . ”
“Do we have any outstanding balance?”
“I believe we have about 100 million won . I will check the exact amount, sir . ”
“That wouldn’t be necessary . I just needed a rough amount for now . I will get a report on this with details when I go to the office . ”
“How much do we currently have in the bank account?”
“We have 3 . 2 billion won, sir . ”
Sponsored Content
“Please make sure that you get the vice president—Mr . Adam Castler’s signature on the monthly profit and loss statement . ”
“Of course, sir . We’ve been complying with the procedure . ”
“Also, please note that since Lymondell Dyeon completed its investment in-kind as of this month, we will have to pay them for any raw materials that we need from them starting next month . ”
“I’m aware of it, sir . ”
“You must have a lot of work to do, Manager Jo since you have to take care of the import and export matters as well in addition to the accounting work . ”
“So far so good, sir . The import and expert work has been handled by the customs agency . ”
“You shouldn’t make any cash payment that exceeds 1 million won without my approval . ”
“Understood, sir . ”
After getting off the phone with Manager Jo, Gun-Ho was thinking,
‘It has been six months since the joint venture opened its business . All of the investment in-kind have been fulfilled and the company currently has 3 . 2 billion won in its bank account . After one year of business, its sales revenue would reach 30 billion won with the cash reserve of 6 billion won . That would make 20% of profit which is not bad at all . A start-up company with a certain technology should make more than that but their long term success is not guaranteed . Since Dyeon Korea is a joint venture with a stable business partner, it doesn’t have any loan and no interest to pay to a bank accordingly . The biggest portion of the expense is for the sales activities; that’s it . ’
Gun-Ho continued to think while having a cup of green tea and walking around his office .
‘Next year, Lymondell Dyeon would probably suggest increasing capital without consideration after setting aside the legally required retention fund . That way, the value of the company share will increase once it goes public . ’
‘And the following year, they will surely suggest forming a subsidiary company in other countries . Maybe I should ask them to merge GH Logistics into the joint venture then . GH Logistics is handling all the transportation work for Dyeon Korea so it sort of makes sense to make it a part of Dyeon Korea . If that happens, I can have my investment money back that I spent in acquiring its land . What if the land price would increase significantly by then? If so, I might get more than 2 billion won back . I will have to share the management power with them but I think it’s not a bad deal at all . ’
Sponsored Content
Gun-Ho was already drawing a picture of GH Logistics’ future as the joint venture would make an M&A of it . Frankly, Gun-Ho wanted to collect his investment fund that he put into GH Logistics, not the exact same amount but as a growing piece of pie .
‘If that’s the plan, let’s acquire the farmland around that auto repair shop . I can use Jae-Sik’s name to buy them . I will pay Jae-Sik for letting me use his name in purchasing the land . We both can make money from this . I will convert the land into non-farming use . ’
After the second payment was made for the auto repair shop, the demolition and cleaning job started . Director Jong-Suk Park worked on it with Team Lead Shin in the maintenance team .
“Mr . Director, do you want us to throw this refrigerator?”
“Throw all of them out . That’s what our president wants . ”
“Look at all this stuff . Whoever previously used this place left everything behind . There are tons of stuff in the drawers . ”
“Throw all them out . There are some blankets upstairs . Toss them out too . ”
“Some of them look brand new . It’s a shame that we have to throw them out . ”
“Take them to your home then . ”
“Haha . Nah . I don’t want to take a blanket to my home, especially when I have no idea who previously used it… . ”
“I think we need one more truck . These won’t fit into the truck we have now . ”
Once all the stuff inside the auto repair shop was taken out by the cleaning service, the contractors started working on the floor and bathroom along with painting jobs .
Gun-Ho stopped by the place to check the progress .
Sponsored Content
“It is empty now . ”
Jong-Suk Park ran towards Gun-Ho when he saw him .
“We had to clean tons of trash here and brought one more truck to throw them out . The tent was huge once we took it down . It took a lot of time to get rid of it . ”
“Did they epoxy the floor?”
“They will first waterproof the floor . ”
“What about the painting job for the wall? Maybe tomorrow?”
“Everything will be completed by tomorrow . They will finish the bathroom today and the canopy and wall repairs will be done tomorrow . Oh, I was going to ask you this . I’ve noticed that there is no fence here . Do you want to build a fence?”
“Yeah . It looks weird without a fence . ”
“I will install a mesh fence then . It will cost a lot though if we want to fence the entire land . ”
“Also, I want a business sign that is made of copper hanging on the column at the entrance with the same company logo shown on the business card . ”
“Oh, that can be handled by GH Mobile’s general affairs manager . He is good . I will ask him . ”
“Sounds good . ”
“Anything else you want to add?”
“Nah . It seems you are taking good care of it . ”
“I’m doing my best . I feel so excited that Jae-Sik bro is going to work in this place . He has been living in a basement all the time . I want him to live a better life . ”
“I know . Get him a nice desk . And add a few more desks for the future employees . ”
“Okay . I have a business credit card with me . I will buy the same desk that President Song is using . ”
The place was ready the following day . When Jae-Sik Moon arrived at the new GH Logistics’ basecamp in his SM5 to see his office, he was frightened by its new look .
“It looks like a totally different place . ”
The first thing he noticed was the copper-made business sign at the gate . Once he passed the gate, he was standing in the front yard . It was cemented and extremely clean . A blue PVC canopy added a cool feeling to it . The office looked great too with fresh paint and new lamps . There was a separate office for the president . Once he entered his office, he saw a luxurious executive desk . He at first thought that maybe that desk was there for Gun-Ho, but it was his . There were four other empty desks placed in the office space as well .
“This is too big for just myself . ”
“Why don’t you hire a staff who can take care of bookkeeping? You won’t have time to do it by yourself . You once posted a job opening when you hired truck drivers . Post another job opening for bookkeeping on WorkNet . You probably want someone who lives in this town . ”
“Okay . Will do that . ”
If you find any errors ( broken links, non-standard content, etc . . ), Please let us know so we can fix it as soon as possible .