Chapter 59
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The bowling alley was large and nice unexpectedly .
The temperature outside was high . The elders in the area used hand fans to create a breeze in bare torso . People selling stuff, students, and constructions workers—they were sweating in this hot summer . On the other hand, the bowling alley was a totally different world . The air conditioner was working great .
"Hey, G-jjong, here! We are here!"
The branch manager and the female bank staff were already in the bowling alley waiting for Gun-Ho while playing bowling . They got so excited when one of them bowled a strike by shooting a ten pin .
"You are very good . "
Gun-Ho approached the branch manager's party while praising them . Actually, Gun-Ho had never played bowling before . There were bowling alleys in Korea but they were not very popular . This was Gun-Ho's first time experience in a bowling alley .
Gun-Ho carefully observed how the bank people moved by playing bowling . They walked three steps before releasing the ball . That didn't look so difficult .
"G-jjong, why don't you try it?"
Gun-Ho rented bowling shoes at the counter and played bowling . Once he released his bowl ball, it didn't roll in the center as it was supposed to be, but it went to the side . The bank staff laughed . The branch manager said while laughing along with them,
"Korean people play golfing a lot rather than bowling, right? Maybe I should learn how to play golf from you, G-jjong . "
"Oh, umm…"
Gun-Ho had never played golf before either . He used to consider people who played golf as people in another world . Gun-Ho felt perplexed when the branch manager asked Gun-Ho to teach him how to play golf, so he quickly changed the subject .
"Since I am not very useful in bowling here, I will go and buy something to drink . "
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Gun-Ho bought a few soda and ice creams . While having his ice cream, the branch manager congratulated Gun-Ho .
"Congratulate me for what?"
"I talked with the Hwaganghwawon construction president today on the phone . He said it had been one year from the date that all Hwaganghwawon condos were sold, and the price of the condos already increased a lot . "
"Oh, really? The price increased as much as the economic growth rate in China?"
"That rate is the average rate of entire China . The area where Hwaganghwawon is located is a nice area and the price increased even more . I was told that the price increased by 20% already . "
"Oh, really?"
Gun-Ho started calculating .
"I exchanged 400 million won with Chinese Yuan and invested them into these condos . With the increase of 20%, I should gain 80 million won . I knew money makes money . "
The bank staff started talking .
"What are the branch manager and the Korean businessman talking about?"
"They said the price of Hwaganghwawon condos increased significantly . "
"Hmm, the price of the already expensive condo increased again . People like us will never be able to live in a condo like that even with our entire career earnings . "
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"The price increase thing in that sort of fancy condos is in a different league from us . Let's just keep playing bowling!"
The female bank staff seemed to be jealous as they talked about the Hwaganghwawon condo and started smoking . The bowling alley was large and it also had a high ceiling, so smoking was allowed .
"You'd better grab the ball like this before you release it . "
The branch manager taught Gun-Ho how to play it and came closer to him and said,
"G-jjong, are you interested in moving your funds to another real estate?"
Gun-Ho thought it was the branch manager's agenda for today—upon meeting with him .
"Huh? What kind of real estate?"
"There is a Chodaeso (similar to a motel in Korea) building in Nansanlu; it is partially completed . If you sell your Hwaganghwawon condos, you can acquire it with the proceeds . "
"Did you say the building is partially constructed? If so, I will have to spend more money to complete it after acquiring it . "
"We can lend you the necessary funds . "
"Hmm…"
"Once the building is completed, you can attract a lot of Korean tourists . "
"I don't know…"
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"Would you like to try it?"
"It's so sudden, and I think I need time to think about it . I will talk to the person who entrusted the funds to me . "
"Alright . Talk to him . You won't regret it . The building is located right next to the hospital in Nansanlu . It's on the road to your home so you will see it on the way home . "
Gun-Ho started thinking about it by himself .
"Acquiring the building… hmm… The condos generate income, however, if I acquire this building I won't get anything until it is fully built . I have to pay the Audi rent every month . "
Gun-Ho felt very good when he was told that the price of his condos went up by 20% and then the branch manager threw this bomb to his face with the suggestion of the building acquisition .
"I want to hear the opinion of others . Who should I talk to? That's right . I will talk to Dingming's sister . She is the Mando hotel manager . "
Dingming's sister disagreed with the idea of acquiring that incomplete building .
"The owner of that specific building has been changed several times already . Even though you could acquire it for 5,000,000 Yuan, you would need additional 3,000,000 Yuan until the completion of the building . If you have that money, that might be okay . But if you have to loan 3,000,000 Yuan, that's too risky . You will have to pay the interest until the completion, right?"
"You're right . "
"Moreover, you can't rely solely on Korean tourists . The number of Korean tourists had been constantly increased three or four years ago, but not anymore . In addition, the tourists don't often stay in Chodaeso; they prefer a hotel since it is their trip abroad . Also, you should consider that since the building is partially finished, the ownership and the chain of titles must be very complicated . "
Gun-Ho agreed with Dingming's sister .
"I did the right thing by asking you about this . I think your professional opinion is accurate with your knowledge and insight gained from the work experience in the hotel business . "
Gun-Ho told the branch manager that he would pass his suggestion this time .
"The investor in Seoul who entrusted the funds to me wanted to stay with two condos for now . I'm sorry . "
"You don't have to feel sorry about it . If the investor decided, then nothing much we can do about it . Haha . Since the condo price went up by 20%, and if you need additional loan later for another business, just let me know . "
The lending suggestion from the bank branch manager reminded Gun-Ho of the story that Chairman Lee had told him before .
"Chairman Lee acquired a building for 25 billion won during the Korean IMF crisis and when the price of the same building was hiked to 200 billion won, he lent 100 billion won from a bank . Then, he purchased a paper production company and a small building with the loan . This is the magic of money . China is not in the IMF crisis, so the price building was not a steal as Chairman Lee had experience in his old time . Let's be happy with the 20% price increase with my condos . "
Gun-Ho decided to focus on his study for now .
"I don't have to physically work in my Korean restaurant since I am the owner . However, going to college is really tiring . There are too much to read and it is really hard to study . "
Gun-Ho barely passed the exams in the university and continued his study . He was in his fourth year in the university when a young professor came to his university to teach from Yale University in the U . S .
"That professor seemed to be about the same age as myself . That professor is the youngest one among the professors here, and I am the oldest one among the students here . Sh*t . "
The young professor taught finance . When he first came to the university, a staff introduced him to the students like this,
"This new professor's name is Jien Wang . He is from here, Hangzhou City . "
"Jien Wang . If I say his name in Korean, it is Gun Wang; the same name as our first king in Goryeo Dynasty of Korea . "
"Professor Wang had ranked first in the SAT in the entire Hangzhou City . After he graduated from Beijing University, he went to the U . S . to pursue his Ph . D . at Yale University . He taught at Yale before he came to our university . "
"Wow . He has an excellent academic background . "
Gun-Ho couldn't help comparing himself to this professor who was about the same age as him . This professor was a professor of one of the IVY league universities at this age . Until this time, Gun-Ho had never thought that this professor would be the best friend of himself .