Chapter 196: Establishing GH Chemical (3) – PART 1

The semi-annual financial statements report arrived. Accountant Nak-Jong Lee from Anchang Accountant Office brought it to Gun-Ho’s company himself.

“Oh, you brought it yourself. You could have just sent one of your staff for it.”

“I have to bring it myself. I give a report directly to a company’s owner for this kind of report.”

“Let’s have some tea while we talk about our semi-annual financial statements.”

“Sure. The company’s sales revenue is gradually increasing. That is very encouraging. When the company was still Mulpasaneop, it had a really hard time keeping up the positive net income. Everything is different now.”

“We still need to reduce the cost of products, right?”

“The debt ratio has decreased a lot since the second factory was sold. However, the company is bearing a significant amount of construction cost for the new factory in Jiksan Town. So, reducing the product cost won’t make any impact much.”

“Once the factory in Jiksan Town is completely constructed, we will move to that location, and we will sell the main factory here then.”

“If you sell the main factory here, the company’s assets will be reduced and the company’s debt will be reduced as well accordingly.”

“What if we don’t sell the main factory, but we run another company here?”

“Are you saying you will acquire another business? That’s up to you, President Goo. You can either invest personally or have GH Mobile invest in a new factory.”

“If GH Mobile invests in a new factory and if the new factory doesn’t do well, then it will affect GH Mobile, right?”

“Of course, it will.”

“Hmm.”

“This company has an advantage though.”

“What is it?”

“First, this company is 100% owned by one person—you, President Goo, and there is no other shareholder. Also, there are no expenses used by the owner family.”

“Why would an owner family use a company’s money?”

“There are a lot of companies like that. A president’s wife buys an expensive designer handbag with a business credit card, or they use the company money to pay for their son’s study abroad, for example. Those kinds of things commonly happen.”

“They shouldn’t do that.”

“There are a lot of company owner families like that. It is a big problem. Some people born to a wealthy family just don’t know what they can do and what they cannot do.”

“Thank you for your analysis and advice today.”

“I am so glad to see the company is doing well.”

Gun-Ho left for Japan carrying the English version of the semi-annual financial statements report, company organizational chart, and other documents with him. When he arrived in Japan, he headed to Amiel’s office in Nihonbashi. Gun-Ho was with the interpreter who Kim&Jeong Law Office recommended.

“Amiel, what do you think? Do you see an improvement in our company’s financial statements report?”

“I do see it doing better…”

“We do have workers, technologies, and a factory that can start working right away with a large land.”

“I know you are driven and highly motivated; however, we need to verify the qualifications of the workers and also we need to secure sales network in Asia markets.”

“Well, the largest market in Asia is China. I have a company there in Suzhou City specifically. I’ve attached that company’s semi-annual financial statements report as well to the document I just gave to you. We can develop the China market and sell products there using that company.”

Amiel thoroughly looked through the documents that Gun-Ho brought in.

“Oh, I was told that Mr. Sakata Ikuzo succeeded in developing a new product for you. Is it true?”

“Yes. We are already talking with the customer about the product, and the product passed their test. We are waiting for their personnel to visit our company to look around our factory. They will order the products more than 100 tons per year.”

“100 tons? That is a lot for a single product order. However, that’s not good enough.”

“The S Group is one of the biggest companies in Korea. Once they start using our product, more companies will request to buy our products soon. You will see.”

“Well, since you are extremely motivated, I will talk with the headquarters. The co-venturer’s president’s personality weighed heavily with the headquarters, so President Goo, Give me your resume—an English version—with your picture on. I need a copy of your passport as well.”

Gun-Ho printed out his resume in Amiel’s office. He saved his resume in his email account in case he needed it.

“Where is the headquarters of Lymondell Dyeon located?”

“It’s in the area 30 mile north from Seattle. Since they supply lots of products to Boeing, it is located close to the Boeing company.”

“I heard Boeing has an enormous factory.”

“Don’t get me started. You can’t even finish a tour of their factory in one day.”

“Wow. Really?”

“I have your papers with me, so you can go back to Korea for now. Once I heard from the headquarters, I will let you know. Or, you could possibly receive the response to your office directly from the headquarters. Starting a joint venture involves legal matters. Talk with Attorney Young-Jin Kim about it since he is the expert in the legal area and also he speaks English very well.”

“Okay, I will. Thank you.”

“You want to go to that bar in Shinjuku?”

“Not this time. Let’s go there when we have good news from headquarters.”

“Sure.”

“There is a rumor that you put Mori Aikko’s hair up—the dancing geisha in Shinjuku. Is it true?”

“No comment there, man. I can’t talk about my romantic life.”

“Oh, shoot. So that’s true. You made it. I am so envious of you. You got the most beautiful woman in Japan. You are indeed a man who can achieve anything. I guess you will grab the joint venture opportunity too.”

“Thank you.”

Gun-Ho came back to Korea. Before he headed to Asan City, he stopped by his TowerPalace condo in Seoul. There were tons of mails in the mailbox waiting for him, such as utility bills.

“Well, I will have to take care of these before I go to Asan City. These mails are all about asking me for money.”

When Gun-Ho was taking his mail from his mailbox, an old man came into the mailbox area. He was a resident of the same building as Gun-Ho, and he was the representative of the residents.

“Are you the young man who is living in #18XX, by any chance?”

“Yes, I am.”

“We keep receiving the notice to ask you to attend the Civil Defense Training because you haven’t showed up. Please go to the training, so I don’t have to keep going up to your condo to remind you of it.”

“Oh. I am so sorry.”

Gun-Ho saw the notification for the Civil Defense Training along with other letters he received.

Gun-Ho slept in his TowerPalace condo by himself that night.

“Maybe I should sell this condo. The 20 pyung large condo next to the Asan KTX training station would be perfect for me. This condo is too expensive to keep. The tax is high, not good.”

Gun-Ho, however, thought that he should have a place to take a rest in Seoul since he comes to Seoul from time to time. Moreover, his resident status was registered with this condo.

“Should I ask Mori Aikko to move in with me in this condo?”

Gun-Ho fell asleep while thinking about living together with Mori Aikko in his TowerPalace condo.