Chapter 408: 408
Chapter 408: Year-end Financial Meeting – Part 1
Gun-Ho and Young-Eun watched a play at Arko Arts Theater in Daehakro . After the play, they exchanged opinions and views on the play . Young-Eun once dreamed of becoming an artist, and she was still highly interested in arts, and she was very knowledgeable in the field accordingly .
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‘If I married Seol-Bing or Mori Aikko, I wouldn’t have felt a sense of comradery that I’m feeling right now with Young-Eun, even though they are beautiful women . ’
Gun-Ho and Young-Eun walked out to the street .
“Aren’t you hungry?”
“I am actually starving . ”
“What do you want to eat?”
“Umm… Pizza!”
When they saw an Italian restaurant— Porco Rosso — that specialized in wood-fired pizzas, they entered there without hesitation .
“I know you own several businesses, but you seem to be folksy, and I like that . ”
“I like the folksy side of you as well, Ms . Young-Eun Kim . ”
“I’m just an ordinary person . Haha . ”
Gun-Ho was having a great time that day with Young-Eun . He wished he had a day like this one every single day .
“Umm, where does your father live? Since your mother passed away, does your father live by himself?”
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“Yes, he is still alone . He is living in Dongbu condo in Sillim Town . ”
“He must feel lonesome . ”
“Not really . He has his own busy life . He goes to a clubhouse and plays Korean chess with his friends . He often goes to a library as well . Also, he likes mountain climbing . His favorite activity is climbing Gwanak Mountain with his friends . He loves that place . ”
“I guess you often send him things to help him out like allowance money . ”
“Haha, not really . He doesn’t accept my money . He is living on a pension . ”
“I heard your father used to work as a teacher in an elementary school before he retired . ”
“That’s right . He had taught kids for 34 years . ”
“I’d like to meet him someday . ”
“Huh?”
Young-Eun just smiled while having a piece of pizza .
It was on December 15 .
GH Mobile’s year-end financial meeting would be held today . The meeting would address the year-end report and next year’s business plan . President Jang-Hwan Song convened the meeting in the conference room . Every management personnel from the position of a manager and above gathered in the conference room . One of the labor union’s leaders attended the meeting as well . There were 36 attendees in the conference room . Six of them were executive officers, and they sat in the front seats facing other attendees . Everyone carried their journals with them .
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The meeting started with the general affairs manager’s opening remarks followed by the year-end report . Once a Powerpoint presentation began, everyone turned around and looked at the Powerpoint screen .
The female accounting manager— Min-Hwa Kim started her presentation on the year-end report . She was holding a presentation pointer . Her pitch during the presentation was higher than her usual one .
“This year, we achieved 81 . 6 billion won for the annual sales revenue . This amount is 9% higher than the one when we were under court receivership . The product cost is 67 . 8 billion won with a sales profit of 13 . 8 billion won . The general and administrative expenses were 8 . 1 billion won . That makes our ROS (Return on Sales) 7% with the operating profit of 5 . 7 billion won . If we include the subtraction of the financing cost of 2 . 6 billion won and the taxes, the net profit for this year is 2 . 4 billion won . It’s 2 . 9% of our sales revenue . ”
The accounting manager continued her presentation further .
“Now, I will go into more details on the product cost . ”
At that moment, President Jang-Hwan Song chipped in .
“Let’s go over one thing before we move on to the next item . ”
Everyone looked at President Jang-Hwan Song’s face .
“The paid-in capital of our company is 2 . 5 billion won . In order to pay the company’s urgent and bad debt, President Gun-Ho Goo lent 3 billion won of his personal fund to the company . We are supposed to pay this amount of 3 billion won back to President Goo once we generate enough revenue . However, President Goo decided to capitalize on this 3 billion won . So, now our company has 5 billion won capital . ”
Silence filled the air . No one could hear even a slight cough .
“Also, President Goo decided not to take his dividend of 2 . 4 billion won this year but asked us to use the fund to pay for the company’s debt . Therefore, we are anticipating seeing a lower debt ratio and fewer business expenses other than operating costs . We will all have to thank Mr . President Goo for his decision . ”
Once President Song finished the announcement, the accounting manager continued her presentation .
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“So, our product cost is…”
President Song again chipped in .
“Ms . Accounting Manager, please give us big numbers only . You don’t have to tell us every single one of the numbers that you see in the product cost . ”
“Yes, sir . ”
It still took a long time for the accounting manager to give the complete end-year report even though she left out small details .
Manager Chang-Hwan Seo from the sales team then started his presentation on the business plan for the coming year .
“The sales volume has steadily increased for our new product— AM083 Assembly — including S Group’s product orders . The estimated profit for the upcoming year will be 12% higher than this year, and we set our sales goal to 91 . 4 billion won . We have also tried to lower our product costs… Therefore, we are aiming at 5 billion won as our net profit next year . ”
Once Manager Seo’s presentation ended, the internal auditor added, “From the year after next year, our debt ratio will be significantly reduced, and I expect it to be about the industrial average debt ratio . ”
When all the presentations were done, Gun-Ho made a final comment for the meeting .
“Thank you for your hard work . I feel highly relieved as I see the company steadily growing with your great effort . Our sales goal next year is set to 91 . 4 billion won, and with your motivation and gusto, I have no doubt that we will achieve that goal .
In order for us to successfully register our company with KOSDAQ, our debt ratio must be 1 . 5 times lower than the industrial average debt ratio . We all want our company to go public, so we gain the public’s trust, and also we will feel more proud of being a part of this community . You can expect to see more benefits that the company offers to our employees as well . Let’s keep up the good work and do our best in our position . Each of you is an important asset to our company . Thank you all for being here today . ”
Everyone in the meeting room stood up and clapped .
That day, the company cafeteria prepared a special lunch for the employees . They added chicken and a variety of fruits to the menu . The workers assumed that the special menu was provided per President Goo’s order as it was the day they announced the business plan of the upcoming year .
“I heard President Goo is very sensitive with numbers since he used to work in the accounting field before . He gets really mad if someone gives him an inaccurate number . ”
“The executive officers must be very nervous around him when they have to talk about numbers then . ”
Gun-Ho had lunch at the company cafeteria that day with the executive officers .
When Gun-Ho came back to his office after lunch, the secretary — Ms . Hee-Jeong Park brought a cup of coffee for him as she always had done . While he was enjoying his afternoon coffee, Gun-Ho received a call from Artist Choi .
“This is Artist Choi . I hope I picked the right time to call you . I thought you might not be very busy after lunchtime . ”
“Hi, how have you been?”
“I’m fine . I heard you and Young-Eun met several times . Why don’t you propose to her? Since it’s December now, I think March next year will be a perfect month for you to marry her . ”
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