Story of a Big Player from Gangnam

Chapter 462: GH Plastic Co., Ltd. (1) – Part 1

Gun-Ho and Chan-Ho headed to GH Parts Company in Min-Hyeok’s Audi. When they arrived, a few executive officers came to Gun-Ho to greet him. They were familiar faces to Gun-Ho.

“Mr. Chairman, you are here.”

They addressed Gun-Ho as Mr. Chairman since Min-Hyeok was the president of the company.

“How have you all been?”

Gun-Ho had a handshake with each executive officer there and tapped their backs.

“Hmm, it seems all the machines are working right now.”

“Right. They are fully working. However, we can’t run them overnight. They are not in that good condition yet.”

The retired factory manager, who was currently working with Min-Hyeok Kim in an advisory position ran, to Gun-Ho when he heard that Gun-Ho was there.

“How have you been? You look good.”

“Yes, sir. President Min-Hyeok Kim is providing me with a very comfortable work environment.”

“It’s really good to see you doing well here.”

“The machines are working great, and I don’t get much workload lately. I always appreciate the opportunity to continue my work here, not to mention the benefits that the company provides me.”

“I feel confident because you are here with us, Mr. Plant Manager.”

After looking around the production site, Gun-Ho visited every corner of the factory including the cafeteria, the offices, the conference room, and even the bathrooms. Everything looked good except the bathrooms which seemed to be overly outdated. Gun-Ho suggested to Min-Hyeok to renovate the bathrooms.

“Don’t think that it is a waste of money to redo the company bathrooms. What you spend for your employees will come back to you as a precious return.”

“Okay. I will do that.”

Gun-Ho and Chan-Ho followed Min-Hyeok to his office. When they entered the office, there were three people sitting on a sofa.

“Oh, my gosh. President Goo?”

Gun-Ho looked at the lady closely; it was Eun-Hwa Jo—Korean Chinese lady who used to give Gun-Ho private lessons on the Chinese language.

“Oh, Ms. Eun-Hwa Jo!”

Gun-Ho felt delighted to see her again, and he extended his hand to her for a handshake. Min-Hyeok smiled and said, “She helped me with interpretation, and now she is working with us.”

“Oh, really? That’s nice.”

Gun-Ho had a handshake with the accountant there too. The accountant was a familiar face to him as well.

“It has been a while since I saw you, Mr. Kuaijishi (accountant).”

“Ni hao! Mr. Chairman.”

“Oh, Manager Ahn! Please come here and meet the chairman.”

A man, who was sitting at a large desk, came and stood next to Min-Hyeok.

“This is our new manager.”

“Oh, I see.”

The man looked maybe three or four years younger than Gun-Ho.

“Hello, sir. Nice to meet you.”

“He used to work at a Korean company around here. When his company closed the business and moved back to Korea, he joined our company. He has been in China for more than seven years, and he is very knowledgeable about the business environment in China.”

“I see. Seven years is long enough to understand Chinese business.”

“He started his career in China right after graduating from college. He actually graduated from the same university as mine.”

“Haha. Really?”

“I’ve heard a lot about you, Mr. Chairman.”

“It’s very nice meeting you. Are you married?”

“No, I’m still single.”

“Lots of good things will happen to you if you work hard. I’m so glad that a competent young man joined our company.”

Min-Hyeok added, “I don’t worry about the office when I have to go out for sales ever since he started working with us.”

“I guess President Min-Hyeok Kim heavily relies on you. Please do your best in assisting him.”

“Yes, sir.”

Gun-Ho and Chan-Ho headed to Dingding’s office with Min-Hyeok. The office was located in Pingqilu, Suzhou City. A clear business sign with the GH logo on it was already placed on the third floor, and it said ‘GH Plastic Co., Ltd.’

An office worker was sitting at a desk by herself, and Dingding was sitting in the president’s office also by herself. Dingding seemed to be happy to see Gun-Ho.

“Mr. Chairman, it’s really good to see you!”

Once Gun-Ho sat on a sofa, the office lady brought tea.

“The office is extremely clean, maybe because only female workers are working here. I see an orchid pot and Mr. Ding Feng’s painting. Oh, how is Mr. Ding Feng doing these days?”

“He is doing well. He is in Hong Kong right now to attend an event there.”

“You paid the one-year lease upfront for this office, did you?”

“That’s right. It’s like 450,000 Korean won per month. The size is about 100 ㎡ which is about 30 Korean pyung.”

“And, you have only one employee?”

“There are actually four workers including myself. We recently hired two security guards for the storage. We hired them as employees, so they could have more sense of responsibility in performing their duty.”

“I believe that was the right move. Are you currently receiving the raw materials from Dyeon Korea for 4.5 million won per ton?”

“That’s correct. We buy them for 4.5 million won per ton, and we sell them for 480 million won per ton. The profit is 6.6%. Our major client is GH Parts Company.”

Everyone laughed when she said that her company’s major buyer was her husband’s company.

“I was told that you successfully sold 50 tons last month.”

“Right. I was lucky to make that far.”

“Hmm. The proceeds for 50 tons of raw materials is 240 million won. That makes the profit around 15 million won.”

“That’s correct.”

“Is it worth running the company?”

“Well, the profit rate is less than 10%, but since we are not a manufacturing company, we don’t spend much on labor or other operating expenses, so it will do.”

“Hmm, I see.”

“The 100,000 dollars that you invested in this company have been well spent when we started the business. Starting next month, we will begin to collect payments from our clients.”

“How is the business attempt with the company in Yancheng going, that you have been contacting to make a contract with?”

“We’ve sent them a sample product, and we’re waiting for their response. That company manufactures not just automobile parts but also home appliances. Once they make a business with us, I expect a high volume of product orders from them.”

“How did you say you know the company?”

“I went to college together in the U.S. with that company’s owner’s son and his wife. Min-Hyeok knows them as well. Haha.”

“The storage is located about 4 kilometers from here, right?”

“Yes. Let’s go there and take a look at it.”

Gun-Ho, Chan-Ho, Min-Hyeok, and Dingding, they all went to the storage. One of the security guards was moving raw materials using a forklift truck.

“We purchased a used forklift truck. Fortunately, one of the security guards who we hired knows how to operate it, so he drives the forklift truck when necessary.”

“If we fully fill up the storage, it will accommodate 100 tons, right?”

“Yes, the maximum limit is 100 tons.”

Gun-Ho entered a container office that was attached to the storage. There were a desk and a round table.

“Do you usually give instructions to the workers in the storage through the phone?”

“I communicate with them either via phone or email. I send them a list of products by email, and they print it out and attach it to the products along with the product test result before sending them to our customers.”

“It seems to take about fifteen minutes from your office in Pingqilu to the storage here.”

“That’s correct. So, when they need me in person, for example, when they need me to buy some necessary products, I come to the storage. I certainly stop by the storage at least once a day.”

“Hmm. I see. I had a nice tour of the storage today.”

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