It's Tuesday.
Chang and Kim Hyung-sook stopped by the Yeouido office before heading down to Uiwang City.
It was a brief report to me as well as an understanding of the fund's operation status.
The whole room was assembled in the conference room.
Everyone came in with their coffee in a paper cup.
I said, looking into Zhang's face.
"Good work on your trip to Pitestech yesterday."
"We executed nearly a billion won yesterday to give to creditors. It's not as crowded as it was on the first day, but it still keeps coming out."
"It'll keep coming out for the time being."
"But it's not money for creditors, but they're also trying to push ahead with things they haven't done before."
"Do you have a lot of such things?”
"They say it would be nice to do the leak work again in the production area."
"Well, is that so?"
"And the cooling line needs to be replaced."
"Does CEO Kim Kyo-young talk to you in person?"
"This is what the executives say."
"Then tell him to submit a letter of intent. It's a letter of intent that President Kim Kyo-young agreed to."
"Okay, I will."
"Is there anything else you'd to say?"
"If you do well, the revised copy of the register will come out tomorrow. It comes with changes in the representation and capital increase."
"Really?"
"One thing for sure is that I will personally go to the registry office and separate the corporate register copy and the corporate seal. We have to keep it in JS Invest's investment files."
"Do so."
Would it be better to give the OTP terminal of the main bank account to President Kim Kyo-young when we withdraw later? Or would you rather give it to the accountant?"
"Give it to Mr. Kim. Then he'll give it to the accountant."
"Then I will."
I said, looking at the others.
"I'm sorry I only talked about Pitestech."
Choi Yuna said.
"I told you at the last meeting that M&A was also active on the shipping side, right?
"I remember that CVC Capital Partners, a private equity investment fund, bought Rosen Shipping, the nation's fourth-largest courier company, for 300 billion won."
"According to today's economic news, Dongbu Express is also being sold for 470 billion won."
"Really? Where is the acquisition company?”
"Dongwon Group will take over through the holding company Dongwon Enterprise."
"I think online sales are increasing and logistics companies' M&A is getting more active."
"Yes."
"It's a far-sighted decision for companies to take over logistics companies. Two years ago, MERS was a pandemic, and this year cholera broke out, and the delivery business is going to grow in a world where we don't know what viruses are coming out."
Everyone nodded.
Chang also said with a smile.
"I didn't realize that the delivery fee was so high while I was auditing Pietestek. I've seen individuals buy things and come by parcel service, but I haven't thought of a company's bulk delivery.
"At first, I wondered why the delivery fee was so high. But I think that's what the company's worth because it has a lot of supplies."
I remembered the first day I went to Pitestech and asked for the delivery fee.
At that time, I was surprised to hear that the delayed delivery cost was 10 million won. Later, the station paid 2 million won and sent it to him.
Choi Yuna said again.
"But I think we're re-adjusting the price after due diligence. There's talk of re-adjusting the acquisition price within 5 percent."
Chang replied.
"I'll make a due diligence. Because we did due diligence when we took over Pitestech!"
"Please let me in the next due diligence."
"Mr. Choi Yuna? It's a pretty physical job."
"I still want to. Wouldn't it be weird if someone who worked for a fund company didn't do a due diligence once?”
This time, Song spoke.
"Mr. President, you know the news about the twin foundations today, right?
"The Twin Foundation?"
"The Hankyoreh newspaper reported the Mir Foundation and the K-Sports Foundation."
"Oh, I saw it on the Internet news. What is it specifically about?"
“The two foundations are in Park Geun-hye of the president do not initiate real choesunsil, intervened.”
"Isn't it possible to set up a foundation for business purposes?"
"If there's a corruption, it's like mobilization of funds. The use of money is also a problem. I heard that this year's parliamentary audit is likely to be the biggest issue."
I smiled inwardly.
If it gets noisy, the opposition theme stocks will go up.
This time, said Chang.
"But there's something strange. The ruling party's opposition has prevented the adoption of witnesses."
"Really?"
"Some say that the Ministry of Culture, Sports and Tourism, in an unusual move, is joining the government because it refuses to give prior explanations requested by opposition lawmakers."
I smiled inwardly again.
This time, Chung said.
"In this year's M&A market, Choi Yuna's Rosen Express and Dongbu Express are also big, but the biggest is Kumho Tire."
said Chang, nodding his head.
"That's so."
I asked.
"What is the estimated sale price of Kumho Tire?”
"There's a story of 1 trillion won."
"Wow! 1 trillion won!"
I've invested 15 billion won in acquiring Pitestech, and if it's 1 trillion won, it seems I'm far from acquiring a big company in my life.
"Oh, who buys it?"
"I've heard that about 30 companies are going to rush in before the acquisition. But the chairman of Kumho Asiana Group has the right to buy first, so we don't know what will happen.”
Hong Ji-young said.
"Kumho Tire is not a political theme stock, is it?"
"It's not a political theme stock."
"Today's news says political theme stocks are dangerous if corporate fundamentals don't support them."
"That's what I always say."
"Political theme stocks often return to short-term falls after a short-term surge, requiring caution."
"It must be because of EG, Inc. With Ban Ki-moon's theme stocks on the market, President Park's younger brother, Park Ji-man, seems to be making a surge in EG Corp., the major shareholder."
I asked Chang.
"Did President Kim Kyo-young of Pitestech say anything about recruiting vice president?”
"Submit the vice president? I didn't hear that.”
"I guess you didn't tell me."
"Do you have anyone you can bring in?"
"The office is trying to recruit someone who I used to be vice president of G."
"Oh, really? If you could bring someone like that, it would certainly give you a boost in sales."
"Since I've worked in finance, planning, sales, and logistics, I'd like to bring you here to work with a very tight grip on the management there."
"It's true that Pitestech is weak in management. If the management had been strong, the boss there wouldn't have died that way."
"I think so, too."
"But how old are you? I'm sure there's a lot of vice presidents.”
"I'm retiring this time. I'm in my late fifties."
"Oh, then you must be very skilled. But don't you tell me about the terms and conditions?"
"He wants us to guarantee his term of office."
"When I looked at the articles of incorporation of Pitestech, they had a two-year term as director”
"He said he would extend it if he did well and made a lot of progress. My daughter is studying in the U.S., so she's a goose father."
"Then you must still need the money."
"Maybe.”
"Then it will definitely come."
"So I'm thinking of going to Pietestech with me when I get the revised register."
"The directors there wouldn't like it. I won't like the accounting director, sales director, and quality executive director. My mother-in-law is coming in."
"Is that so?"
"But it's good to have at least one person who's been playing in big water like the vice president of G Electronics. When a company grows suddenly, something that's too much for the workforce right now."
"That's true."
The conductor stood up.
"Then I'll leave for Uiwang City with Mr. Kim Hyung-sook."
"Yes, have a safe trip."
There's a call from the president of Mogang Tech.
"I'm the president of Mokang Tech."
"Yes, hello?"
"I'm going to Pitestech once. You don't work there, do you?”
"I'll go down if the president of Mokang Tech comes."
"Then when would be a good time? I'd like this Thursday and Friday."
On Thursday or Friday, the revised copy of the register will already be available.
I thought that if I go down, I should show the vice president of G Electronics to the factory.
"Well, then I'll choose between Thursday and Friday. I have someone to go with, and I'll check his schedule and get back to you."
"Okay, then I'll wait."
I called the vice president of G Electronics.
"How are you? I'm Choi Joon-sik of J.S. Invest."
"Oh, Mr. Choi!"
The vice-president used polite honorifics when I was about the age of G-electronics deputy.
"Have you thought about it?"
"I'm still thinking. I don't really know what kind of company it is, and I'm worried if I can go and do it."
"I'm going down Pitestech this Thursday or Friday. Aren't you willing to go down together and explore?"
"Exploration?"
"You can go and see the factory and decide."
"The office wants me to look at the company's financial statements more than the factory production line. Since it's September now, I'd like to see the third quarter performance as well.”
"I'll have the person in charge there prepare it. But today is September 20th, and I don't know if we've made any profit or loss for the third quarter."
"It's probably not due in September, but it doesn't matter if it's a housekeeping."
"Then I'll tell him to be ready. But does it matter if the financial statements don't reflect our capital increase or borrowing?"
"I don't care. I don't care if the financial statements are half-yearly closing data as of June 30."
"Okay, I'll tell him to be ready."
"Then Thursday would be good for me, would you mind? That won't be available until Thursday afternoon. I'm still tied up here, so it's not easy to make time."
"Then have lunch on Thursday and come by 1 p.m. I'll take you to my car."
"Oh, I'm sorry about this."
"No, I'll see you then."
I called the president of Mogang Tech.
"Why don't you go to Pitestech at 2 p.m. on Thursday?"
"Tuesday at 2:00? I was thinking of having lunch with the boss, but I got it wrong at 2 p.m."
"It's because someone who wants to come here has something to do in the morning."
"You can't do that.”
"It leaves here at 1 p.m. from Yeouido, so I set it at 2 p.m."
"Then I'll have lunch in Anseong and leave around 1."
I finally called Kim Kyo-young, president of Piettek, again.
"I'm Choi Joon-sik."
"Mr. Choi? Why don't you come down once? The revised copy of the register will be available tomorrow."
"I'll be down on Thursday the day after tomorrow. I'll be there by 2 p.m. on Thursday."
"Not in the morning?"
"On that day, the president of Mogang Tech will be there, and the vice president of G Electronics, who wants to be the vice president, will be there."
"Oh, you're all coming."
"Tell the Accounting Director to pull out the financial statements of the semi-annual accounts of this year and the status of the third-quarter earnings aggregates."
"Okay, I will."
four bosses