Vice President Pietestek called the factory manager.
"These are the people who came out to review our investment. Show me the production line."
"Okay."
"And talk to the director of the institute and have him visit the institute."
"Okay."
Under the guidance of the director of the factory, Chang and I went to the production area.
I could hear the loud sound of machines and I could see the robot moving.
It was quite automated.
I also went to the research institute.
The director's business card is a doctor of engineering, which made me think that this person is also a junior of the deceased president.
The director of the factory and the director of the research institute explained something to us hard, but it was hard to understand because there were many engineering jargon. I just nodded around.
When I came out of the production line, the vice president was waiting at the front door.
When I got on the sparkling Mercedes-Benz Maybach, the vice president and the factory manager bowed heavily.
At this time, I felt like I was saving face by riding a luxury foreign car.
In the car back to Seoul, Chang told me.
"Then starting tomorrow, I'll take Jung and Song and do a due diligence for M&A."
"Take Kim Hyung-sook with you, too. I want to learn how to do due diligence.”
"I will. Then the due diligence will be done on the third, and I'll do it in two days."
"If the four of you stick together, the factory of that size will be over soon.”
"But Kim Hyung-sook, the accountant, has a strong side. People who don't usually talk are very active."
"You're a accounting guru, so you want to do some kind of due diligence. Maybe you've never seen a factory like that before.
By the way, the boss put up the switchboard at the production line earlier. It looks like you've worked at a production plant before."
"I did. I worked in a smaller factory that wasn't like that, but was worse."
"Oh, that's why you asked the accountant to bring you a balance sheet. That's amazing. I thought you were only good at stocks, but that's what the boss did."
When the car arrived in Yeouido, Chang said again.
"The bereaved families of the deceased president will ask for 90 percent of the capital of 3 billion won, right?”
"If you go through due diligence and capital erosion, you won't have any money to give to the families. You should explain the reason to the bereaved families.”
"Then will you invest in capital increase?"
"I have a lot of debt, so I'll have to start with potatoes if I'm going under the table. We'll have to cut our current capital by 3 billion won and cut it down to 1 billion or 500 million."
"You're right."
When we returned to Seoul, Kim Kyo-young, vice president of Piettek, convened a meeting of senior officials.
"What's the meeting again? You don't even pay me for my work?"
Executives have recently lost their heart when their salaries have been delayed.
Young employees change their jobs immediately without paying their salaries, but senior executives have had a hard time changing jobs because of age. Those were the impressions that facial expressions reluctantly present.
"Just now, I went to see a president of a fund company called JS Invest and a deputy director. Starting tomorrow, he'll be in our company for due diligence."
"You said you were filing for court receivership for our company, but what happened to that?"
"If we manage the court, the company's life will last for six months until the court approves it. But I can't guarantee my future fate."
"Is that so?"
"If we go into court receivership again, we will certainly cut the number of people we have appointed when the court-appointed custodian takes over. We'll restructure. That could lead to situations in which I, some of you, have to leave the company."
"Then did the boss decide to hand it over to the fund company?”
"The company is currently owned by the late boss's wife. I have only 300 million shares in the capital of 3 billion. I'm acting as a proxy president, but the major shareholder is still the boss and his wife. You're the heir to the late boss."
"So if we sell the company, the boss's wife is going to find 2.7 billion won out of 3 billion won worth of the vice president's shares?”
"No, it will depend on the due diligence of the due diligence team starting tomorrow. In fact, our company has a lot of debt, so our assets are inflated. The actual number of raw materials inventory or semi-finished products on the site and the number on the books will be different."
"Hmm."
"Selling products on credit is now over 10 billion won, but it's actually a non-collectible number because they've all been charged."
"Then what happens?”
"I mean, if the debt is too high and the capital is eroded, the boss' wife and I will have nothing to take. Fund companies are likely to demand capital reduction."
"Then what do we do?”
"So please make sure you don't omit raw or semi-finished materials from the investigation in every corner of the warehouse. The malfunctioning machine should also be operated as if it were in operation. That's why we need to get a few bucks back to the families. That would be a courtesy to our long-time boss."
The vice-president's trembling voice made the executives look solemn.
"I asked the president of the fund company to join us, even if you take over the company, without letting you go. I think you're a good person, so trust me. He was the most gentleman I've ever offered to take over."
"But is the boss on the Benz Maybach young or middle-aged? Some say the young man is the boss."
"The young man was the boss."
"Are you a second-generation chaebol?"
"I don't know that. It seemed like a rich man to be willing to take over a company with 30 billion debts."
"Okay, I'll work as hard as I can with the due diligence team, which will come tomorrow."
The next day, Chang decided to take Chung, Song, and Kim Hyung-sook to Pitestek, Uiwang.
Before I went, I called Mr. Kim Hyung-sook to my room separately.
"When we do inventory inspections, we're going to have a large quantity, so we won't be able to conduct a full The number is important for sampling, but check if it's a usable material. For example, see if the raw materials are old and hard, for example."
"Okay."
“And then you look at machinery and equipment when the light switch operation and move it too.”
"Okay."
"Even if you claim that a machine that doesn't fit or doesn't work, you shouldn't collide with a company employee on the spot. All you have to do is record the truth in the document. We're not going to audit, we're just checking out assets."
"Okay."
"The rest will be under the direction of Deputy General Manager Chang. Have a good trip, then."
"I'll be right back."
Kim Hyung-sook went out with her face flushed like a student going on a picnic after a long time.
After sending a delegation of Chang, I was scared to buy eight political-themed stocks.
The stocks with the pitch were sold more boldly. There were also a lot of buying at low prices.
While he was already collecting 300 million won and resting in the morning session, he received a call from the president of Mogang Tech.
"I'm the president of Mokang Tech."
"Yes, sir."
"Have you tried phytestec on the phone?"
"I met the vice president there in person."
"Then you decided to take over?"
"No, we'll have to do a due diligence. We'll have to see if it's 30 billion.”
"What happens if it doesn't fit after due diligence?”
"Then you have to get your hands off.”
"What a waste."
"You can't buy a dying company, can you?"
"If you're buying Pitestech, I can help you sell there."
"Business?"
"The products are not going into Samsung's West Bank plant. I'm sorry to say this to the dead, but the boss there seemed to be a terrible salesperson. I'm from Samsung, but I don't know why I didn't think about Samsung's West Bank plant."
"You wouldn't have had the money to build a factory in the West like Mogang Tech."
"You don't have to build a factory. Pitestech products are of better quality than those of China, so you can export them here. I could have introduced you to the person in charge of revenue there."
"When due diligence is completed, we will decide whether to take over or not. I'll get back to you then."
"Okay, I'll be waiting for the good news."
I went to the water purifier installed in the office to drink water.
Choi Yuna and Hong Ji-young were the only ones in the office. The rest of them went to Pitestek in Uiwang City.
I looked at Hong Ji-young and said,
"The office is quiet."
"Mr. President, since there's no one here today, please buy me something delicious with Choi Yuna and me."
"Well, I will. What do you want to eat?"
"Spaghetti."
I took Mr. Hong Ji-young and Mr. Choi Yuna to a light-style house selling spaghetti.
I wanted to eat budae jjigae today, but the female staff couldn't help but come to the light food restaurant because they wanted to eat spaghetti.
Hong Ji-young said while eating spaghetti.
"Mr. President, if there's a factory inspection next time, please let us go."
"It's hard. Why do you want to go when you have to review documents and inventory them all day?"
"I want to experience it. But we have a lot of employees, so I want to know how to manage labor."
Hong Ji-young has a certified labor attorney, so she's very interested. But if you're in a small organization like our fund company, you can't use your license properly, so that's also a problem."
"But I like J.S. Invest. First of all, you get a good salary."
"Haha, is that so? If J.S. is going to get bigger and take over a big company, not Pietestek, then we can go there and be a labor executive."
"Ho-ho, that's great. Then."
This time, Choi Yuna said.
"Mr. President, did you know Mr. Yoon, who was here last time, well?"
"No, I haven't seen him recently."
"But the boss is very good at English. I've never seen you speak English."
"I'm a sham."
"Not really. That was a very good pronunciation."
"Yoon seems to have received a love call from the political circle to join the think tank."
"Oh, really?"
"And you don't know who lawyer Yoon is?"
"Who is it?"
"This is the fiance of lawyer Oh Mi-hyang, who came to our office."
"Oh, my God! Do you?"
"Oh Mi-hyang and I went to high school together for a year."
"Really? But her personality seemed a little rough."
"It's not a little rough, it's a lot rough."
"Ho-ho, I thought so."
"But in front of Yoon, he pretends to be gentle."
"Hohoho, is that so? You really seem to like it."
I was talking about this and got a call. It was Omihyang.
"Captain Choi? I'm Oh Mi-hyang."
"Oh? What are you doing? Oh lawyer."
"I spoke to Eun-young on the phone. I can't come out on Friday because of the broadcasting station schedule, but I can on Saturday. Lawyer Yoon said that's a good time. Can you come out?"
"Unyeong is coming? Of course we should go out. Even if there's something else, I'll get out. What time is it?"
"6 p.m. Is it okay? From the forest hoe."
"Okay. Good!"
When I hung up, Choi Yuna said.
"Are you lawyer Oh? By the way, who is Eunyeong?”
the tears of the Virgin Mary