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527 Sale of Logistics’ Real Property 2 – Part 2

 Gun-Ho and Jae-Sik continued to talk over the phone.

"When do you think it would be an appropriate time to move the office to the new location in Siheung City? Maybe after we receive the middle payment? Actually, we don't have much to move anyway. The moving will be very simple unlike moving a manufacturing company."

"Maybe we can move the office after we receive the full payment."

"Guess what my workers said when I told them that they will be working at GH Mobile."

"What did they say?"

"They said that they really wanted to stay with me here to work if they could, and they feel sad that they have to work for GH Mobile, not GH Logistics. But the thing is that they looked really happy while saying that."

"Hahaha. Really?"

"I will send you the earnest money of 200 million won to your bank account."

"No, don't. Since GH Logistics is the one that is selling its property, that money must stay in its business bank account."

"Hmm, I see."

"Once we receive the full payment, we will have to send that money to China. We also need to file a report with the foreign exchange authority as well."

"I see. But I don't know anything about it."

"You can ask anyone in the accounting team of either GH Mobile or Dyeon Korea."

"Hmm. Okay. I will do that."

"Do you want me to start the handing over process of GH Logistics' work to your sister and brother-in-law?"

"You can start showing them how things work there and letting them be familiar with the work, but you can't officially hand over the work to them just yet. The same thing applies to your workers as well. Everything should stay as it is with GH Logistics until we receive the full payment and the sales transaction is completed."

"Got it."

"Well, you have done a good job today."

"Oh, I was going to talk to you about this. Once GH Logistics moves to the new location in Siheung City, I think we should determine the amount of your salary."

"Like how?"

"I've thought about it."

"Hmm. I'm listening."

"What about... President Goo takes 5 million won, your brother-in-law takes 3.5 million won, and your sister takes 2.5 million won. What do you think?"

"My salary seems to be excessive. A monthly pay of 4 million won should be enough for me."

"Are you sure?"

"Yes. It's enough."

"And, we have two business credit cards here. I will give one to your brother-in-law, and the other one to your sister since she will handle all its accounting work."

"Sounds good."

As soon as Gun-Ho got off the phone with Jae-Sik Moon, he received another call from President Shin instantly.

"Sir, I've been trying to reach you for a while. Your line was busy until now."

"Oh, I was talking with President Jae-Sik Moon. So, how did it go? Did you meet S Group's president?"

"Hahaha. Please be ready to be surprised."

"What is it?"

"S Group's president wants to buy the entire collection of Mr. Sakata Ikuzo's artworks."

"Is that right?"

"So, I told him that we can give them all to him for 300 million won."

"I wonder what he wants to do with those wood-carved figures. Does he have a large house to accommodate all of them?"

"He is actually buying them with S Group's name; it's not his personal purchase."

"Oh, his company is buying them? Do you think that he wants to place the art pieces in the head office in Yangjae City?"

"Hahaha. He said he wants to send them to the factory in Dangjin City. His factory in Dangjin City is on a 30,000 pyung large land, and the building's total floor space is 15,000 pyung."

"That doesn't surprise me since S Group is a really huge company."

"He wants to display the artworks at its entrance with a description that those art pieces were made by Mr. Sakata Ikuzo who also carved the mold with which their product parts were made from. They are also paying for us to install those artworks in their company."

"Oh, really? Well, I think it could be very effective marketing. It would be an interesting fact for the buyers who visit their factory to purchase their automobiles."

"That's right. He said the 300 million won that he would pay us for the art pieces will come from their marketing budget. I was told that S Group is usually spending several tens of billions won for marketing per year."

"Hmm. That makes sense."

"And, I just talked with Mr. Sakata Ikuzo over the phone and told him that his entire artworks were sold."

"Really?"

"And I told him that he would receive 200 million won after we deduct our agency fees and marketing cost. He was extremely happy with the fact that someone bought his artworks and with the amount that he would make from it. You know what he said?"

"What did he say?"

"He said that maybe he should change his primary job from a mold engineer to a wood-carving artist. Hahaha."

"Haha. He said that?"

"I guess I don't have to worry about the rent that GH Gallery pays to Director Kang for at least 2 years from now. Haha."

"Well, congratulations. You did a very good job."

"Oh, also, S Group's president asked me to say hello to you, sir."

"Oh, really? I know their vice president very well, but I've met their president only a few times during the meeting..."

"Well, I'm just delivering the message to you, sir."

"Anyway, I'm happy that things went well with GH Gallery."

"Since I'm outside right now, I will get back to work after having lunch with Mr. Yoshitake Matsuda."

"Sounds good."

Gun-Ho felt relieved for President Jeong-Sook Shin.

"President Shin was under a lot of pressure and stress since she might not make enough money to cover the cost of hosting that art exhibition even though she received lots of visitors there. She looked happy now."

Gun-Ho could picture Mr. Yoshitake Matsuda smiling with satisfaction.

Gun-Ho gave a call to his sister.

"Did you submit your resignation letter to the nursing home?"

"I told them that I will work only in the mornings. My husband mowed the property and got rid of the weeds completely."

"We sold GH Logistics' property in Seonghwan City."

"Really? It's sold quicker than I expected."

"Yeah, a cosmetic company wanted to buy the property, and we signed the sales contract this morning."

"Well, I guess I will have to quit the job at the nursing home then."

"Since you will have to handle the company's accounting, you'd better start studying it now."

"I know. I'm a bit worried though."

"I talked with President Jae-Sik Moon earlier. He asked how much would be proper for you and your husband's salary."

"We are not in a position to ask for a certain amount of money for our pay. We will just take whatever he decides to give to us."

"Still, just tell me a number."

"I'm making 1.9 million won at the nursing home, and my husband was making 3 million won. If he could match our salaries to those numbers, it would be great. Well, since we don't have to consider the wing-body truck's depreciation cost any longer, we will be good with 2.5 million won for his monthly salary."

"Our numbers are a bit different. Your husband takes 3.5 million won, and you take 2.5 million won. How is that?'

"Are you sure? That would be really great! But is it okay if we take that much?"

"Your husband will be the one who runs that company, so he will have to determine his own salary according to the work performance. This is just a starting point. The salaries could go up if you generate more profit, or it could go down if the business doesn't do well."

"I understand that."

"And, the company has two business credit cards. Your husband takes one, and you take the other one."

"The company's business credit cards? When I worked for the factory that manufactured paper cups, I saw its accounting staff using the company's business credit card."

"From now on, use the company business credit card to pay for the gas and food even though they were not directly related to the business, okay?"

"Okay."