Story of a Big Player from Gangnam

Gun-Ho received 8 billion won to his bank account. It was from Yangji Construction Company for the land.

Manager Kang let Gun-Ho know that the proceeds of the land sales were received.

“We received the full amount of the sales price of the land.”

“Sir, you made 1.5 billion won from this one-time transaction. It’s about the same amount of a condo in Gangnam.”

“Is it?”

“You are awesome, sir.”

“Even though I made 1.5 billion won, the sales contract says I sold the land for about the same price that I paid when I had purchased it. So, I won’t have to pay the capital gains tax for this transaction. I will put all of 1.5 billion won to GH Development.”

“To our company?”

Manager Kang seemed to be surprised.

Gun-Ho called for Ji-Young.

“Ms. Ji-Young, once you verify the 1.5 billion won is deposited in the business account, just record it as a fund that came from the company president.”

“Okay, sir.”

“We will use this money as our investment in the joint venture.”

Manager Kang said while nodding his head.

“I see. Because we need to invest 1.5 billion won in the joint venture.”

“Right. And I will send Min-Hyeok who used to work as a residential manager in our Bangbae OneRoomTel to China to oversee the joint venture business.”

“I thought you would do so. Does that mean Mr. Min-Hyeok Kim no longer prepares for the government job exam?”

“Yes, he gave up. He said he didn’t want it anymore and that he didn’t have the aptitude for it.”

“That’s a shame. I’m sure he studied a lot for it.”

Gun-Ho called for Ji-Young again.

“Starting from this month, send 1.5 million won to Min-Hyeok Kim’s bank account as his monthly salary.”

“Is he our employee then? Is he okay with 1.5 million won salary?”

“That’s okay. Once he starts his work in the joint venture in China, he will receive an additional salary from the joint venture.”

“So, he is getting his salary from two companies.”

“That’s right. However, the salary he would receive from the joint venture in China would be a lot lower. We have to pay the workers in the joint venture about the same salary that Chinese people get paid in China. So, I wanted to pay an additional salary to Min-Hyeok from our company.”

“I see. I will do the necessary paperwork for a new employee right away.”

“Please file the Four Major Public Insurance for him as well.”

“Okay.”

“Also, he will begin his class in a private institution to learn the Chinese language before leaving for China. When he brings the receipt for his course fee, please list it as our company expense.”

“Okay, sir.”

Gun-Ho then talked to Manager Kang.

“How much is our sales revenue this month?”

Manager Kang opened his file while scratching his head; he might not remember the exact amount.

“It’s 72,500,000 won.”

“Hmm, our company is still a small firm; its annual sales are not even 1 billion won.”

“That’s not true, sir. There are a lot of companies with a large amount of annual sales, but also with a large amount of debt and business expenses. The tax accountant office we work with, also said our company was exceptional. You heard that too, right, Ms. Ji-Young Jeong?”

“Yes, I heard that too.”

“Haha. Is it right? Anyway, our sales revenue has increased because of your hard work. Let’s have lunch together. Since I made some money by selling a vacant lot in Gangdong District, let’s go somewhere far from here for lunch today.”

Manager Kang and Ji-Young looked at each other while smiling.

“Umm, sir.”

Manager Kang seemed to have something to tell to Gun-Ho. Gun-Ho looked at Manager Kang.

“We still have one more hour before lunchtime.”

“Then let’s work one more hour before lunch.”

“I mean… Since Mr. Min-Hyeok Kim is now our employee, why don’t we ask him to join us for lunch today?”

“Min-Hyeok? Maybe he is in a class already. Why don’t you call him?”

“Okay.”

Manager Kang made a call to Min-Hyeok.

“Mr. Min-Hyeok Kim? It’s me, Manager Kang.”

“Oh, Manager Kang. I am in the middle of class. I will give you a call back right away.”

“He said he is in a class right now.”

After ten minutes, Min-Hyeok called.

“It’s me, Manager Kang. I’m sorry I couldn’t take your call right away. I was in the middle of class. Now, I’m off the class.”

“That’s okay. We are having lunch together. Why don’t you come to the office and join us?”

“Okay. I’m on my way. I think it will take about ten minutes from here to the office.”

“Okay. Hurry up.”

Four people got into Gun-Ho’s Land Rover and headed to Cheonggye Mountain after passing the Yangjae four-way intersection. Gun-Ho’s party arrived at Yetgol Village. Ji-Young seemed to love the place.

“Wow. This place looks like the countryside. Whoa, look at that pumpkin over there!”

Gun-Ho took his employees to a restaurant called ‘YetgolToseong.’ The restaurant specialized in a grilled pork dish. This restaurant became more famous a few years later after the actor— Il-Gook Song had a meal there with his triplets.

Ji-Young screamed again.

“Whoa, this restaurant looks like a traditional Korean house. The food here will be very delicious!”

The restaurant was large, and thankfully it was not crowded since it was a weekday.

“Since we have to get back to work after lunch, let’s just have one glass of Makgeolli*.

“I guess Mr. Min-Hyeok Kim can drink more.”

Everyone laughed at what Manager Kang said.

“Okay, then let’s have one glass of Makgeolli and Min-Hyeok will finish the remaining Makgeolli.”

They laughed again when Gun-Ho said it.

“We welcome you, Mr. Min-Hyeok Kim. Let’s drink for our company.”

“Cheers! For the prosperity of GH Development!”

“For the prosperity of GH Development!”

They enjoyed the pork dish with the scenic view of Cheonggye Mountain.

Manager Kang teased Min-Hyeok.

“Mr. Min-Hyeo Kim, once you go to China, you can have liquor as much as you want, right?”

“I will have to abstain from alcohol. I’m sorry, Manager Kang. I know you have been worried about me because of my drinking habit.”

“Oh, no. Don’t say that.”

“I’m sorry, Manager Kang. Let me pour Makgeolli in your glass.”

Manager Kang took the glass that Min-Hyeok handed to him while smiling.

“Don’t give me too much liquor. I will have to work after lunch. By the way, if I go on a trip to China, I guess I will have Chinese liquor because of you, Mr. Min-Hyeok Kim.”

Ji-Young chipped in.

“I want to go to China too.”

Gun-Ho smiled and said,

“Haven’t you been in China, Ms. Ji-Young Jeong?”

“I went to Osaka, Japan once with my friends, but I’ve never been to China.”

“If things go well with the joint venture, we will all have a chance to go to China at least once. Since GH Development invested in the joint venture, we will have to make consolidated financial statements as well.”

“Consolidated financial statements?”

“You don’t have to worry about it. The tax accountant office we work with will guide us on how to do it. By the way, why don’t you drink your glass of liquor, Ms. Ji-Young Jeong? Your glass of liquor has been sitting there for a while now.”

As Gun-Ho said it, Ji-Young sipped her glass of liquor.

“I blush even with a sip of liquor.”

Manager Kang teased her.

“You will look prettier with a blush.”

They all laughed along.

Note*

Makgeolli – Korean rice wine.