Story of a Big Player from Gangnam

Chapter 625: Plan to Increase Dyeon Korea’s Capital – Part 2

Gun-Ho asked for Chan-Ho Eum.

“Chan-Ho, let’s go out to take a sauna. You haven’t been there for a while now, right?”

“Would you like to go to Onyang Hot Spring Hotel, or go to the hot spring spa area?”

“Let’s go to the spa place.”

“Okay, sir. I like that place too.”

Dyeon Korea’s Interpreter Myeon-Joon Chae and Secretary Seon-Hye Yee had lunch together that day. After lunch they were having a cup of coffee. Ms. Seon-Hye Yee asked Interpreter Chae, “You stayed in the president’s office this morning to interpret the meeting for an extensive period of time. What was it about?”

“They were talking about their investment portion in this company, and a lot of difficult terminologies came out, that I didn’t know. It was definitely not one of those days with easy interpreting work.”

“Investment portions?”

“Yes, and they also talked about increasing capital stock or something. Mr. President Goo is a highly knowledgeable man.”

“Really?”

“I heard that he is only 37 years old, and I can’t believe that a young man at that age can be that smart and knowledgeable about almost anything. He also seems to have an insight in business, and his prediction about the future seems to be precise as well. I have an older brother who is the same age as him. Guess what is his current primary interest these days. It’s a game called Granada. He is so into that stupid game these days...”

“Hahaha. I heard that your brother is a Ph.D. student. I believe that it’s totally fine and even healthy to play a video game sometimes in order to relieve some stress that he gained while studying.”

“Yeah, if he does that sometimes. In his case, the problem is that it is the other way around. He plays the game like all day long, and he gets back to his study when he thinks he needs a break from the game.”

“Hahaha, really?”

After having a spa morning, Gun-Ho and Chan-Ho Eum went to a restaurant for lunch. They chose a restaurant that specialized in a set menu with seasoned wild vegetables. After lunch, they headed to GH Mobile in Jiksan Town. He first stopped by the production site. The production manager quickly came to Gun-Ho when he spotted Gun-Ho at the site.

“I don’t see Director Park around here.”

“He went to the meeting presided by S Group for their vendor companies’ plant managers.”

“A meeting for plant managers?”

“S Group recently found defective products sent by some of their vendor companies. It has nothing to do with us though. So, they asked each vendor company’s plant manager to attend the meeting today. They will talk about how to prevent from producing defective products in the future. Actually, S Group received a claim from its client abroad about the defect., and that’s how they found the problem.”

“We should be careful not to make the same mistakes.”

“That’s right, sir. We are now more carefully testing our products before shipping them out.”

Gun-Ho went to the newly constructed production site B with the production manager. The first and second floors were both filled with assembly workers. The workers were sitting in a line at the site working quietly. Only the team leads and supervisors were walking around.

‘Hmm, they seem to be working under very close supervision.’

On the way out of the production site B, Gun-Ho stopped by the bathroom and took a look around it. The level of cleanliness of a factory’s bathroom was a good indication to predict that particular factory’s productivity and discipline. The bathroom was extremely clean. On its wall, a cleaning schedule was posted with the name of the person in charge and the date when it was inspected.

Gun-Ho went to his office. When President Song saw Gun-Ho going into his office, he followed him to the office.

“Have you been to the production site B?”

“Yes. I’m actually on my way from the production site B.”

“Almost 70 workers are currently working at the production site B. That number is the total number of employees of many small or mid-size companies.”

“It is probably so. We will need to place a manager at the production site B.”

“There is an assistant manager at the production site A, and Director Jong-Suk Park wants to place him to a manager position at the production site B by promoting him. The thing is that since this is not the time when we give promotions to our employees, we can’t just pick one particular person and promote him. We will have our official promoting time two months later, and he will have to wait until then.”

“We don’t have any problem managing the workers at the production site B right now, do we?”

“We do have a high number of workers there, but since the assembly work itself is simple, I don’t see any management issues.”

President Song then came close to Gun-Ho and said, “We are currently providing our assembly service to S Group, Chrysler, and A Electronics. Finding this out, H Group showed their interest in working with us too.”

“Oh, is that right?”

“H Group is currently paying attention to other auto manufacturing companies’ frequent fire incidents. We are manufacturing automobile parts like ignition cables and insulators. I want to supply H Group with gaskets and covers by assembling the components that we can be supplied by other vendor companies.”

“Hmm, really?”

“I understand that the volume of the product orders from A Electronics is rapidly growing, but if we could supply auto parts or assembled parts to H Group, we can even make more than 200 billion won of sales revenue next year.”

“Hmm.”

“We can then pay off all of our debts which are about 400 or 500, and we will be able to register with KOSDAQ as well. Once we do, the company will stably generate enough profits to let us establish a subsidiary company per year.”

“Hmm, you think so?”

“We can form additional subsidiary companies in India, like two in Chennai, and another two in Delhi. Also, we can also expand our market to Eastern Europe and even to the U.S. We can have our own factories there.”

“Hmm.”

“As a matter of fact, if we have our own factory in the U.S., and provide the assembled products to Chrysler as we are doing now, but directly from our factory in the U.S., our sales will significantly increase. The state will offer us an exceptionally favorable tax treatment since once we have our factory there, we will hire American workers, and they will be able to lower their unemployment rate accordingly.”

“Chrysler is located in Detroit, isn’t it?”

“Yes, sir, it is situated in Detroit City in the state of Michigan. They recently had unemployment problems since vehicles were not selling enough in the U.S., but Detroit’s unemployment rate is getting better now. If we could have our factory in Detroit City, we can expand our clientele to General Motors and Ford in addition to Chrysler. Detroit is the center of the automobile industry in the U.S. anyway.”

“That’s good, but it’s too early to think about it though.”

“That’s not true, sir. Mulpasaneop’s sales revenue got reduced all the way to 50 billion won during the court receivership, but now our sales revenue is exceeding 100 billion won without any difficulties. I’m confident that we will achieve the goal.”

“Well, sure, why not? Let’s do what we can do and work hard.”

“Director Jong-Suk Park is preparing himself for the era where our company is globalized. He is studying English so hard.”

“I was told that he is studying for TOEIC.”

“He seems to be enthusiastic in learning the English language. Director Jong-Suk Park is the first one coming to the English class that we offer every morning to our employees. You know the morning class that is taught by the native English teacher from Hoseo University. I am amazed and also impressed by the changes that I see in him. In the beginning, he was not exactly a sitting-at-a-desk-studying type of person. He changed a lot.”

“Hmm, that’s very good.”

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