Episode 109. Galaxy Tower.
“..what is that?”
“It’s not just about spending money. Seoul house prices are going to go up a lot in the future. Think of it as an investment.”
In particular, Tehran-ro here is an area where the price jumps significantly as it later becomes a financial mecca.
It meant that there was nothing bad about it as an investment destination.
Of course, I wanted to buy it because I wanted to shake off the sadness I felt in my previous life rather than the reason.
“..Do you really think it will go up a lot?”
“sure. In 10 years, it will more than double.”
“..Twice? Then 1.2 trillion?”
Daewon looked at that building with a face that seemed to be possessed by his older brother.
“You mean 1.2 trillion won?”
“Because it is. Besides, in my opinion, this Eunha Tower will be the most expensive building in Seoul.”
“The most expensive building in Seoul?”
“yes. Isn’t it thrilling to think that we will become the best building owners in Seoul?”
At those words, Daewon hyung’s eyes became more hazy.
“Are we the owners of the most expensive building in Seoul?”
“It must be so, bro! You know how good I feel, right?”
Daewon-hyung finally nodded his head.
“If that’s how you feel, then you’re right. okay! Lion, buy!”
“haha. Well thought. brother.”
After we asked the broker to get the owner’s contact information.
I stopped looking at the building.
A broker has been contacted.
“Director. The owner of the Eunha Tower you asked to look into yesterday was not an individual.”
“It is owned by a corporation. Highland construction.”
The moment I heard that, I smiled involuntarily.
“haha. Highland Construction?”
“All right. Thanks for your efforts.”
I hung up the phone and fell in thought.
this is fun
As far as I know, Kowon Construction will be transferred to creditors due to debt next year.
By now, the financial pressure must be very severe, do you own such an expensive building?
I don’t know why it’s still not for sale.
As long as Kowon Construction is the owner, it would not be difficult to buy the Eunha Tower.
I went straight to the office of Vice Chairman Jin Seon-ho in the office building of Gowon Construction.
When I went up to the 15th floor, people who looked like construction executives rushed out.
They said, ‘What college student came here?’ He looked at me with those eyes, and then went downstairs.
In the office, Vice Chairman Jin greeted me with a tired expression.
“Vice President.”
“uh. Kang representative. Come on.”
“yes. But what happened? Her face looks a little off.”
“What happened? I’m just trying to reduce the debt on the construction side, but it’s not easy. Well, if it had been easy, I would have solved it right away.”
“Sit down for now. Sit down and talk.”
I sat on the sofa and spoke.
“It has to do with that debt. Do you have any plans to sell the building owned by Kowon Construction?”
“building? If it’s a building owned by Kowon Construction, I’ve already cleaned it up…”
Vice Chairman Jin, who was rubbing his temples, looked straight into my eyes.
“..are you talking about the galaxy tower?”
Vice Chairman Jin replied with a firm face.
“..The building was not built to sell, but to be used as a new office building for our highland construction. How can I sell it?”
Ah, so that building still remains under the ownership of Kwon Construction.
“I say this, but at this rate, it will go into bankruptcy or the creditors anyway. No matter how much the building was intended to be used as an office building, wouldn’t it be better to sell it before the work is done? It will save you that much time.”
Vice-Chairman Jin, who had been thinking for a moment, asked.
“..but what does that have to do with CEO Kang? I don’t think he came to help because he suddenly had a sense of pity for our highland construction, right?”
“Um… that’s not it. To be honest, I’m kind of interested in the building.”
“CEO Kang?”
“yes. Sell that building to me.”
“You want to sell the new office building?”
“yes. I want to buy that building.”
“Um… why does CEO Kang want to buy the building?”
“First of all, I need an office building. Damoye has grown a lot these days, so it can’t be covered with the existing office building.”
“..But is there any reason why it has to be our new office building?”
“There is no particular reason. I just like it. From the moment I first saw it, I couldn’t take my eyes off it.”
At that, Vice Chairman Jin laughed bitterly.
“It seems that everyone’s eyes are the same. When the building was completed, I was determined to protect it as much as I did.”
Vice President Jin asked.
“Then I decided to sell, what is the price?”
“I heard that the market value is about 600 billion won? That’s what I’ve been thinking about.”
“To be precise, it’s 650 billion. Because Lone Superfund recently offered to buy it at that price.”
her. It’s a loan super fund…
After taking over Yuhwan Bank in the next year in an ambiguous way, and eventually selling it back to another bank with a profit of more than 4 trillion won.
It was an American private equity fund that won a lawsuit worth 5 trillion won against Korea.
This incident was recorded as a typical case of a local leak and was later made into a movie.
It is a fund that becomes so famous that it is impossible for Koreans to know it without knowing it.
It’s a strange feeling to be related like this.
By the way, 650 billion is too expensive.
I need to cut it a little.
“Vice President. Can’t we just cut 50 billion won?”
Vice Chairman Jin firmly shook his head.
“I can’t. I would like to give 100 billion won instead of 50 billion won from my heart, but if I do, the backlash from the board of directors will be huge. Gowon Construction is not my personal company.”
I can’t either.
“Then how about this? If you give me 50 billion won, I will entrust 100% of the construction volume to Kowon Construction when building a new TM display line.”
At those words, Vice Chairman Jin put on a harsh expression.
“..you want us to build the line?”
“yes. The construction of line 4 is almost never finished, but construction of line 5 will begin immediately. I’ll give you those 5 lines and the construction volume. Excluding the display manufacturing facilities to be used, the scale of the building construction alone will be more than 200 billion won.”
Vice Chairman Jin, who had been contemplating, quickly nodded his head.
“If that’s the case, it’s not bad.”
OK!
“Then, are you selling the new office building to me?”
“.. first let’s discuss it at the board, and then we’ll talk again.”
Oh-chan Jung, the president of the company, announced that the search portal ‘DAJI.com’ was ready to open.
I stopped by the Hongin Media office and expressed my condolences to the people in charge.
“Thanks to all of you, Hongin Media has taken a step into a new field of search portals. I have no doubt that this DAJI.com you created will be the best search site in Korea. Everyone did a great job.”
With the sound of applause, words of thanks flowed from here and there.
“We also thank you. Thanks to you, I had a great experience.”
I said to Mr. Jung.
“Now open.”
As such, as an Internet search portal, ‘DAJI.com’, which features webtoons and web novels for more than 10 years from the original history, opened in February 2000.
#early March.
“CEO Kang, it’s me. Look at your face.”
“Ah, has the decision to sell Eunha Tower been made?”
“It’s a bit subtle. Let’s meet and talk about the details.”
When we arrived at Vice Chairman Jin’s office, Vice Chairman Lee Woo-kyung was also present in addition to Vice Chairman Jin.
“Long time no see. Representative Kang.”
“yes. How you doing?”
“I’m fine, I have nothing to say. How many days do you have left to live?”
“Hey, what else are you talking about? You have to live for a long time and watch the Kowon group thrive.”
“Anyway, speak well.”
“I’m serious.”
Vice Chairman Lee waved his hand and continued.
“Let’s get to the point. After hearing from CEO Kang that he was going to hand over the Eunha Tower, the loan super fund raised the offer to 700 billion won. Besides, it seems that they even lobby the directors properly, and most of them were on the side of handing over the building to the Lone Supermarket.”
Raising 50 billion and even lobbying?
poisonous bastards!
Since it is a real estate investment fund, the purpose is not to actually own it.
You seem confident that Seoul building prices will rise.
“..the loan super fund seems to have a lot of money.”
“Groups 1 and 2 are places where you can mobilize without difficulty. It will take less than a day to raise about 700 billion.”
“Then, did you decide to hand over the Galaxy Tower to Lone Super?”
“If that were the case, I wouldn’t be looking at CEO Kang like this.”
“Actually, the directors raised the hand of the loan super fund because they thought that Kowon Construction would eventually go bankrupt. The company is going to go bankrupt anyway, so before that, everyone is looking for their own way. Still, if I were to say that, many of them would turn to Kang, but I don’t like it because it’s going to block their lives. So can you promise me one thing?”
“..what promise?”
“Vice President Jin and I will do everything possible to save Kowon Construction. That includes bringing in electronic funds and putting them into construction. CEO Kang help me with that. Then I will hand over the Milky Way Tower for 600 billion won.”
I asked Vice Chairman Lee Woo-kyung.
“I am? How can I… I am only in charge of one division of electronics.”
“At the regular meeting of the board of directors of Gowon Electronics this month, an agenda to hand over 10% of Kowon Electronics’ stake to CEO Kang will be raised. This is an agenda that Vice Chairman Jin and I are pushing, so it will unconditionally pass. Then, CEO Kang will no longer be an employee, but will have some management rights of Ko Won Electronics.”
“Um… Wasn’t it 5% of the price that you would give if you saved the TV division? I don’t know why it suddenly became 10%.”
“The added 5% is the share I had in Kowon Electronics. It’s saying that you’re going to hand it over to CEO Kang. As long as you promise to help save the construction of the plateau.”
“It’s nice to give you an extra 5%. With all my help, there is nothing they can do but agree to send the former funds to construction.”
The vice president shook his head.
“It is incidental. I’m giving it in the sense of taking more responsibility for Kowon Electronics. After all, Kowon Electronics has to do well to generate funds to support the construction. CEO Kang pays a lot of attention to the TV division, but honestly, he is not very interested in other divisions, right? I want you to take care of the rest.”
Vice Chairman Jin continued.
“After passing the 10% stake to CEO Kang, I plan to put the foundry business and memory business under CEO Kang. CEO Kang originally specializes in semiconductors. Those divisions are also thinking of handing over additional shares if their performance improves.”
Hmm. The suggestion that Vice President Jin just made, it’s not bad.
Anyway, in order to produce follow-up products such as Drill 3 and 4, semiconductor process technology had to be supported.
It could be of great help to me if I was in charge of the semiconductor sector to improve the process capability and use that to produce a sequel to drilling.
We got a stake and pulled out a drill, and it was one stone and two groups.
“In that sense, it is good if you are going to hand over the stake. We promise to do our best to save Kowon Electronics and Construction.”
