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Home > Story of a Big Player from Gangnam

440 Visiting Parents after Honeymoon Trip Shinhaeng 2 – Part 1

 Gun-Ho had 4 billion won in his bank account which was a separate bank account from the one where he received his salary. In the second bank account, he had 200 million won.

With 170 billion won in his stock account, he had purchased various bonds which were not mature yet to reach their full face value. Gun-Ho was currently receiving his salary from four different companies: GH Mobile, GH Development, GH Media, and Dyeon Korea. The total amount of his salary was about 40 million won. He hadn't had any income from his investment other than a monthly salary.

"My 4 billion won in my personal bank account must be almost gone already."

Gun-Ho spent most of 4 billion won in establishing GH Logistics. He initially used 2 billion won out of 4 in acquiring GH Logistics' factory in Seonghwan Town, and later he spent an additional 1.9 billion won to purchase two parcels of adjacent land. He now had 100 million won left in the bank account. However, he was still maintaining the amount of 4 billion won there since GH Media's President Shin returned 3 billion won to Gun-Ho that he lent her previously for the business. Gun-Ho thought that he'd better keep more than 4 billion won in his account, so he decided to demand dividends from two companies where he didn't receive any salary from.

Gun-Ho looked at the calendar. It was almost at the end of March. Gun-Ho wrote an email to President Min-Hyeok Kim in China and to President Jeong-Sook Shin of GH Media.

[To President Min-Hyeok Kim of GH Parts Company in China

President Jeong-Sook Shin of GH Media

We have previously agreed on exercising stock options for both GH Parts Company and GH Media.

Pursuant to our contract, an appraisal right can be exercised. However, if we proceed with it, the process itself is complicated, and it could create a capital increase. Therefore, I will just give 5% of shares to each of you.

I've attached the stock certificate contract for it. Please send it back to me with your signature.

The person, who is receiving the shares, is supposed to pay for the gift tax, but if you give me the exact amount of it, I will take care of it for you.

From: Gun-Ho Goo]

Since it was about their interests in the company, Min-Hyeok Kim and Jeong-Sook Shin signed the contract and sent it back to Gun-Ho immediately.

Gun-Ho proceeded by giving 5% of the company shares to Min-Hyeok and Jeong-Sook with the help of an accountant.

Now, Gun-Ho possessed 95% of the ownership of GH Parts Company in China while Min-Hyeok owns the other 5%. And the same thing went with GH Media as Gun-Ho owns 95% of it and President Shin owns 5% of GH Media's share.

Gun-Ho sent another email.

[We will start distributing dividends right after the gift taxes are paid.]

Gun-Ho went to Gangnam District Office in order to register his marriage. He submitted Young-Eun's family relation certificate and her ID along with information of two witnesses.

"You are all set. You will be heard from us within seven days."

The staff at Gangnam District Office was kind in processing it.

At that moment, Gun-Ho recalled that Young-Eun's father asked him to send him Gun-Ho's family register. So he asked the staff, "I'd like to have my family register please."

"A family register no longer exists. You will need to get a Certificates of Family Register instead. It will have the same information."

"Oh, really? Then please have one issued for me, please."

After successfully registering his marriage, he felt good.

He suddenly missed Young-Eun.

"I don't want to wait until Friday evening."

Gun-Ho sent a text message to his wife.

[The registration of our marriage with the district office is done. We are now officially married. Heh.]

Young-Eun's reply arrived.

[Good job, oppa.]

It had been more than three months since Gun-Ho took classes at the Advanced Center for Administrative Development at Seoul National University. The students became familiar and close to each other. They often made jokes with each other as well. Gun-Ho mostly talked with his friend- Attorney Young-Jin Kim.

"Did you guys go to the same college?"

The congressman who was sitting next to Gun-Ho once asked since Gun-Ho and Young-Jin looked pretty close. The ministers and congressmen in the class sometimes ask Young-Jin for a legal advance.

"I have a family gravesite that is 20,000 pyung large. The villagers in that area are requesting me to construct a paved road in the middle of that land. Do I have to do that?"

The people in the class sometimes asked some business-related questions to Gun-Ho.

"Do you think it is a good idea to purchase OTC (over the counter) stocks?"

Everyone in the class was an expert in their fields in some sense, and they could answer any questions related to their field without difficulties. Gun-Ho could learn a lot just by listening to their conversation. His understanding about how the world worked became deeper.

Gun-Ho made a call to his father-in-law in Sillim Town.

"Father? I have my Certificates of Family Register with me. They said, a family register no longer exists and the certificates of family register is a replacement of that document. And I just got off the class. I can swing by your home now."

"Oh, you did? I will wait for you at the building entrance."

"No, don't do that. I will go up to your unit."

Gun-Ho stopped by a supermarket before heading to his father-in-law's home. He bought some fruits and a box of canned food.

"Chan-Ho, wait here for me. It won't take long."

Gun-Ho went up to his father-in-law's home carrying the food that he purchased from the supermarket and the document. Young-Eun's father was watching TV while having a can of beer when Gun-Ho entered his home.

"Come on in. You didn't have to bring me those."

"These are just some fruits and cans."

"Canned food? Maybe I can have some of them while drinking beer. I was watching TV with my beer. Please join me."

Gun-Ho sat on the sofa after handing his certificates of family register to Young-Eun's father.

"Would you like to have a beer with me?"

"No. My chauffeur is waiting for me outside."

"Oh, your chauffeur? I guess you brought your company car here."

"Yes, sir."

"Oh, really? You'd better go now then."

While walking out of the condo, Gun-Ho thought that Young-Eun's father must feel even lonelier now after letting her daughter marry.

It was Thursday.

Gun-Ho received a call from Jae-Sik Moon. He was reminding Gun-Ho that it was the day Gun-Ho invited his friends for dinner to thank them for having come to his wedding.

"Fourteen people confirmed that they would show up, so I made a reservation with Seongung restaurant next to Seoul Nambu Bus Terminal for fourteen seats."

"What time was the dinner?"

"We will all meet at 6 pm."

"Okay. I will be there by then."

"Byeong-Chul Hwang is coming too. He said he would marry soon."

"Byeong-Chul is getting married? He hadn't married yet? I didn't know he was still single."

"He actually once prepared his wedding and even set the date, but he had to delay it when his father passed away unexpectedly."

"Oh, that's right. I went to his father's funeral."

"It has been more than a year since his father died, so he thinks it's okay to get married now."

"That's good."

"He asked me several times whether you would join us today."

"Who asked you? Byeong-Chul Hwang?"