Story of a Big Player from Gangnam

Chapter 228: Acquiring a Storage Building in Suzhou Industrial Park (1) – PART 1

Gun-Ho went to China and headed to Suzhou Industrial Park with Min-Hyeok Kim to see the storage building on the market for sale. He was told that the owner was running a clothing factory in the vicinity of the area. Gun-Ho and Min-Hyeok headed to the clothing factory to meet with the owner.

The factory was not very clean. A lot of people were working there, and tons of products were piled up in the corner. The owner looked to be in his 60s, and he had dark skin.

“I bought that storage to store our products manufactured in this factory, but the business has shrunk, so I want to sell that storage.”

“The land is owned by the government, isn’t it?”

“Of course. All land in China is owned by the government, and we just get the right to use the land.”

“But you still call it ‘Zhuanrang land’ to indicate that it is transferable.”

“That’s right.”

“How much are you asking to transfer the storage?”

“Is your company buying it? The buyer company must have a business license registered with the Administration for Industry and Commerce.”

“We have it.”

“The land is 5 Mu, which is 3,300 m2. You have to give me at least 500 Yuan per m2.”

“How much would the entire land price be if the price per m2 is 500 Yuan?”

While Min-Hyeok was pulling out his electronic calculator, Gun-Ho just quickly calculated the price mentally.

“It’s 1,650,000 Yuan. So it would be 297 million won. We can just assume it’s about 300 million won.”

Gun-Ho surely had a distinctive sense in numbers, which differentiated him from other people.

“I am not sure if it is a fair price for that storage. It is located in the wilderness.”

“Maybe we should contact the president of Jinxi Construction Company with whom we used to run a joint venture together. We can ask for his advice.”

“That’s a good idea.”

Gun-Ho and Min-Hyeok went to see Chinkkweo Seon— the president of Jinxi Construction Company. They carried the cosmetics that Gun-Ho purchased at the duty-free shop at the airport as a gift.

“Oh, G-jjong (President Goo)!”

It had been a long time since Gun-Ho heard someone calling him G-jjong.

“How is your business?”

“It’s going okay. How is your auto parts factory in Suzhou City?”

“We are doing okay too.”

When Min-Hyeok said that, everyone laughed.

A lady staff in the office brought Longjing tea.

“Please have some Longjing tea. The leaf was harvested during the spring.”

Gun-Ho continued to talk while having his tea.

“I want to buy a storage that is located in Suzhou Industrial Park. They are asking 500 Yuan per m2, and I am not sure if it is a fair price in that area. We are here to hear your advice.”

“The industrial park is so large that prices vary depending on the area. A real property is selling in some areas in the same industrial park for 700 Yuan or 800 Yuan per m2 while some are selling lower like less than 100 Yuan per m2. The size of the industrial park itself is 288 km2.”

“288 km2? It’s larger than Gimpo City in Korea.”

The president of Jinxi Construction Company suggested that he would see the storage himself.

“Why don’t we go there together? I can take a look at it for you. If you need to build an additional building in that land, I can help you with that too.”

When the president of Jinxi Construction Company saw the storage, he shook his head from side to side.

“3-Flow (electricity, water and sewer, and road) is good. I don’t see any leakage on the roof either. However, its location is like in a wilderness. There is nothing around the storage. You will certainly need a security guard. You will need two of them to guard the storage for 24 hours.”

It seemed that the president of Jinxi Construction Company met the seller before.

“You came to our construction company to get a price quote for your additional factory, didn’t you?”

“Oh, you are the president of Jinxi Construction Company.”

“Aren’t you building an additional factory yet?”

“I don’t think I need it anymore. The business is not doing well. I even put my storage on the market for sale.”

“500 Yuan is too expensive given the location. I feel like it is located in the middle of nowhere. These two presidents are my friends from Korea.”

“Well, I need that money. I can’t lower the price.”

“President Goo, let’s go. I will find a better storage for you.”

Gun-Ho and Min-Hyeok walked out of the storage following the president of Jinxi Construction Company when the landowner grabbed Jinxi Construction Company president’s arm.

“Come on. Okay. I will sell it for 480 Yuan.”

Gun-Ho made a purchase contract for the storage at 480 Yuan per m2, and he let Min-Hyeok Kim sign the contract as he gave Min-Hyeok a power of attorney.

Gun-Ho stopped by Shanghai and went to see Seukang Li with a carton of cigarettes that he purchased at the airport duty-free shop. Seukang Li was a smoker. When Gun-Ho arrived at his office, he was in a meeting, so Gun-Ho waited for him in a waiting area.

In the waiting area, there was another person waiting to see Seukang Li. He looked dandy and seemed to be two or three years older than Gun-Ho. At that moment, Gun-Ho received a call from the internal auditor from GH Mobile. The dandy man in the waiting area heard Gun-Ho talking on the phone in Korean, and he asked Gun-Ho after Gun-Ho got off the phone.

“Are you Korean?”

Gun-Ho was surprised when he heard the man speaking Korean to him.

“Oh, you are Korean. Are you here to meet Director Seukang Li?”

“Yes, I am.”

Gun-Ho then continued to wait for Seukang Li with his eyes closed; it was boring. The dandy man talked to Gun-Ho.

“Are you, by any chance, in the entertainment field?”

“No, I am in the manufacturing industry.”

“If you are in a manufacturing field, why do you want to meet the director of the bureau of cultural affairs and radio broadcasting, film, and television?”

“Oh, Director Seukang Li? He is a friend of mine. I just wanted to see him since I was in the area.”

“Your friend?”

The dandy man’s eyes widened.

It seemed to be hard to believe that Gun-Ho was a friend of a high ranked government official in Shanghai.

“I work in an entertainment management company.”

The dandy man gave his business card to Gun-Ho.

“A manager in BM Entertainment Management?”

“That’s right.”

“The famous singer Honey Jeong and other girl groups are with BM Entertainment, right?”

“That’s correct.”

The dandy manager started acting arrogant.

“If you have your business card with you, please give it to me.”

The entertainment agency manager said as he was crossing his legs.

Gun-Ho had to give his business card to the dandy manager since he gave Gun-Ho his business card already. The entertainment agency manager closely looked at Gun-Ho’s business card. It had three position titles on it: President of GH Mobile, President of GH Development, and Co-President of GH Parts Company in Suzhou City.

The dandy man quickly sat straight when he realized Gun-Ho was not just an employee of some company but actually a company owner. He then carefully looked at Gun-Ho’s face again.

‘He looks young. Maybe he has a rich daddy.’