Story of a Big Player from Gangnam

Chapter 159: Business Expansion (1) – PART 2

“When you work in the joint venture, we had to talk with the Chinese co-venturer to determine your salary. Since our Mulpa Automotive is an independent company, we will have to determine the amount of your salary. How much do you want to get?”

“My salary? I’m good with the same amount as I earn with the joint venture.”

“How much are you making now with the joint venture? You are getting 1.5 million won from Seoul, and 6,000 something Yuan in China, right?”

“I think it’s more than enough for me since I haven’t really done anything in the joint venture.”

“Once you start working at Mulpa Automotive in China, I can no longer pay you 1.5 million won from Seoul. Instead, I will pay you 20,000 Yuan in China (about 3.6 million won) and will add a stock option.”

“Stock option?”

“If you as the president work hard, and the factory is doing well, you will have the option to buy the company shares.”

“Hmm.”

“The stock option would be 5% of the capital.”

“What does that mean?”

“Say, the company generated a profit of 1 billion won at the end of the year. Then, you can either get the right to purchase the stock or get a profit-sharing. 5% of 1 billion won would be 50 million won. If the profit is 2 billion won, you will get 100 million won. What do you think?”

“That would be great.”

“Many startups offer it to their employees like this.”

“Hmm.”

“I will send you the annual salary agreement with stock option. Just send it back to me with your signature on.”

“Thank you. I really appreciate it.”

Min-Hyeok’s voice was shaking; he seemed to be deeply moved by Gun-Ho’s thoughtfulness and care.

Gun-Ho received a call from Manager Kang from GH Development in Seoul.

“Sir, it’s Manager Kang. I just wanted to let you know that everything is good here. The company is doing well too.”

“I appreciate that, Manager Kang. I can focus on business here because of you, Manager Kang. Having you there gives me real comfort.”

“Ms. Ji-Young Jeong often asks me when you will come to the office. We start worrying since you have been away from our office for a long time now.”

“Haha, there is nothing to worry about. We talk like this pretty often. I regularly check the company bank account to see if the rent is coming in without any problem from OneRoomTels. So, don’t worry about anything. I am monitoring the business of GH Development as well.”

“When are you coming back to Seoul, sir?”

“It won’t be soon. If you miss me that much, let’s have lunch together today.”

“Huh? Lunch today?”

“If you don’t have any schedule today, why don’t you come to Asan City with Ms. Ji-Young Jeong? You can take the express bus at Nambu Terminal heading to Asan City. It will take about 1.5 hours to get here. I will come to the express bus terminal to pick you up.”

“Umm, sure, sir. We will do that. We can have a tour of the factory too.”

Gun-Ho sent the general affairs manager to the express bus terminal to pick up his employees of GH Development, instead of going there himself because one of Mulpasaneop’s major clients wanted to see Gun-Ho. It was a big company—S Company, and their new vice president was visiting their subcontractors including Mulpasaneop.

The general affairs manager arrived at the express bus terminal, and he could easily recognize Manager Kang and Ji-Young. Most people at the express bus terminal in Asan City were old people and young students, so Manager Kang and Ji-Young certainly stood out.

“Are you Manager Kang?”

“Yes, I am.”

“Hi, nice to meet you. I’m the general affairs manager of Mulpasaneop.”

“Oh, I see. Where is the president?”

“He couldn’t make it. He had to meet with a client, and he sent me here instead.”

The general affairs manager gave his business card to Manager Kang and Ji-Young. Manager Kang and Ji-Young also handed their business card to the general affairs manager.

“I like your business card. It’s very pretty. Is GH Development a real estate development company?”

“Yes, it is. We mostly do rental property business.”

“How are you related to the president?”

“I’m sorry? Oh, President Goo is the president of GH Development.”

“Oh, really?”

The general affairs manager didn’t seem to know about that, and he looked surprised.

When Manager Kang and Ji-Young saw the factory, they couldn’t close their mouths.

“So President Gun-Ho Goo owns this factory?”

“It seems like it.”

“Wow. It’s amazing. There is a huge building, and I see so many workers in uniform. I guess it is really a big company.”

Manager Kang and Ji-Young were surprised. They talked to each other quietly as if they were mosquitos.

The general affairs manager took Manager Kang and Ji-Young to a meeting room. It seemed that Gun-Ho was still with the client. They could hear laughing from the president’s office.

Gun-Ho was overly chatty with the vice president of S Company.

“Even the smart people who graduated from top universities cannot easily get a job in your S Company. I sincerely appreciate our previous president—Se-Young Oh for doing business with S Company. Considering that Mulpasaneop is a small company, it is a great opportunity for us to work with S Company.”

“I’ve known President Se-Young Oh since I was a manager. His stubbornness is very well known. He sometimes refused to provide the products to us just because the production cost was not right. Once they increase the number of products and supply to us, it would have been good, right?”

“It seems like we both started working with our new position at the same date. I guess this meant something. Can I call you brother?”

“Brother? I think I am old enough to be your uncle.”

Everyone in the room laughed.

“No way. You even look like a younger brother.”

Everyone in the room laughed again. Gun-Ho was surprised by his own joke; he knew he was reclusive, but he didn’t know he could be chatty like that.

“Sir, what do you think about our factory? We are well equipped with facilities and good labor force. We can produce more products. Why don’t you give us a present since you are here.”

The vice president of S Company asked their director.

“Who is going to supply AM083 assembly products?”

“We haven’t placed the order for the product yet, sir. They all said the production cost is too high, and they will have to import some ingredients from Japan. We talked with Silwon Company and ChemiTech.”

“Hmm, they said they can’t get the raw material from Japan, right?”

“Yes, sir. That raw material is all used up within Japan, and they don’t have more to export.”

“It’s a urethane-related product, and it has to be a Dyeon product.”

Gun-Ho was surprised when he heard the name—Dyeon.

“Give it to us. I know the president of Lymondell Dyeon’s Japan office. Richard Amiel is my friend.”

Everyone in the room was all astonished; especially the Mulpasaneop’s sales director’s jaw dropped in amazement.