The temperature has risen a lot these days, and the weather has been warm.
The next day, I brought out 7 million won in congratulatory money given by Jun-hee when I went to work.
The total amount of money that Joon-hee brought along with the guest book was 27 million won.
Among these, I gave 10 million won to Junhee.
So the remaining money was 17 million won.
I kept 10 million won at home and brought only 7 million won.
Today, Jang and Jung skipped coffee time because they said they would conduct due diligence on S production.
I deposited 7 million won in the bank. And I transferred it to my mom's bank account.
I called my mom.
"How are you?”
"You're Jun-shik!"
My mother's voice was quite welcoming.
"How's your father?"
"Yes, he's doing well. But without you and Jun-hee, the family seems to be empty."
"Haha, is that so?"
"So I've discussed it with your dad, but how about selling this house?”
"What? Selling a house?"
"Isn't it a waste to have such a big house with only two people? Why don't we cut down the number of houses without you and Junhee?”
"Ay, leave it. When Junhee comes back later, we have to use a room, right? Do the reducing problem after Jun-hee gets married."
"Do you think so? I'm saying this because I think it's a sin that only two people live in a spacious house."
"There's nothing to be guilty. And I just sent 7 million won to my mom's bank account, so check it out later."
"7 million won?"
"You must go to America next week. It's been a few days since Junhee left, so you can go now.”
"Well."
"I'll tell my dad and you know that."
"But send 7 million won?"
"It's nice to go and look around and buy some good food."
"Well, well."
"Unyeong's parents went to see Las Vegas and Niagara Falls, so please go."
"He, is he?"
"Eun-young's parents seem to be hanging out a lot."
"And you're married and you call it Eunyeong? Should I call you Cheo?"
I also called my dad.
"Oh, it's Jun-shik!"
My dad was also glad to call me.
He married, but he must have been glad to call you.
"I sent 7 million won to my mom's bank account.”
"Why?"
"You can go to the U.S. next week anyway. Eunyeong says her parents watched Las Vegas and Niagara Falls."
"Now I'm starting to get a window job..."
"Father! Then you won't be able to travel forever. You should go when Junhee is around. And I'm married too. What are you going to do because you keep making money?"
"Okay. I've got my visa, so I'll talk to the travel agency."
My father worked all his life, so he seemed anxious when his work left his hands.
I felt good to call my parents like this.
I turned on the computer to sit in my seat pleasantly and look at the shares of SillaJen and Korean Air.
General Manager Chang came into my room.
"Then we'll go to S Production."
"You must be working hard."
"But you didn't buy SillaJen, did you?"
"What? Is something wrong?"
"There's been a case of embezzlement by a Silla executive."
"What? What?"
I was greatly surprised.
It was because embezzlement and breach of trust were very bad news.
"Well, is that so?"
"I didn't see the details of the announcement, but I didn't think it was a big deal."
I checked stock prices as soon as Deputy General Manager Chang went out.
However, even though the chart is a phoneme, the stock price did not fall too much.
I quickly checked the disclosure.
It was announced that an unregistered executive made 6 million won.
"Oh, shit!"
At that time, SillaJen's equity capital was 261.2 billion won.
The amount of embezzlement was only 0.002 percent of its equity capital.
Nevertheless, SillaJen filed a criminal complaint against the executive and publicly announced.
The reason for the complaint was that it did not have an important impact on the company's management.
However, it was said that the company would proceed with due process in accordance with the company's management policy, which places importance on responsibility and morality.
I pondered over the message it gave me.
[The company's management policy that values responsibility and morality? Can I trust you?]
I kept buying SillaJen with a bitter smile.
It has already sold more than 10,000 shares in the 11,000 won range in the morning session.
Eun-young got a call from her dad.
"Is it the Westmost? Can I call you now?"
"Yes, it's all right. Father."
"What you said on Sunday. I have a question about that.”
"Yes, please speak."
"The room has a lot of loans in the Seogyo-dong building I'm sitting on. I borrowed 1.5 billion won when I built it, and an extra billion when I set up my son's hospital.”
"Is that so?"
"The building has an official land price of about 6 billion won, but the bank doesn't lend well and it seems possible in the secondary financial sector. Would it be okay to borrow 1 billion won to invest?"
"I'm not 100% sure, but I think 70 percent is possible."
The president of a savings bank in the secondary banking sector is my friend, so should I borrow it tomorrow?”
"We don't have much time because we went through due diligence today."
I thought I'd split it up in a few days, but I quit.
My father-in-law seemed to have tried stocks.
There's a call from real estate agent Lee Won-kyu.
"I've already filled all the 50 houses you mentioned."
"Thank you for your hard work."
"Are you not going to buy any more apartments?”
"I can't run out of money."
"Are you not willing to take out a loan in the name of the corporation?"
"Well."
"The last seven are not yet registered, but the remaining 43 are eligible for loans tomorrow."
"I'll think about it."
"The government is laying down flower paths for renters to revitalize the real estate market. You need to make the most of it."
"Flower road?"
"Rental corporations have up to 80% Loan To Value Ratio (LTV). In addition, Debt To Income (DTI) is free. We should take this opportunity to see the leverage effect.”
LTV refers to the percentage of asset value recognized when borrowing money as collateral for a house.
In addition, DTI refers to the ratio of total debt repayments.
In other words, because JS Development is a debt-free company, it can receive maximum recognition for its asset value ratio.
Lee Won-kyu said, "Let's take out 80 percent of the loans with 50 units as collateral, buy another apartment with another loan as collateral for the leverage effect."
"I know what you mean, but when you start financing, you sometimes invest somewhere else..."
"I'm aigo. Where's the land-picking and swimming like a home rental business right now? I'm sure the 50 units you bought now have already gone up by more than 10 percent. We can get as much money as we can get."
"Is that so?"
"Mr. President, this is the right time. Get a loan and add more apartments. There are also many tax benefits. Fund companies, rich people in Gangnam, and even foreigners are drooling in real estate in Gangnam. Shouldn't we apply saliva first?"
"Hmm."
"Isn't there a minister who raises his voice to buy a house out of debt?"
"I think I've heard that once."
"If you come to Gangnam with your money and your money, is there anything else you can do but climb up? When real estate prices soar, the government pulls out a knife for public opinion. Then we just have to shake our hands and get out. You're making a lot of money and then you're shaking your hands."
I laughed inwardly.
It occurred to me why Lee Won-kyu, who knows so well, was not rich. That's what Lee Won-kyu answered.
"It's a world where money makes money. Only a few percent of the money is overflowing, and you can make money by throwing it anywhere. But I don't have money so I can't invest even if I want to.What would I do if I had seed money, but I can't do it, so I'm going crazy."
I hung up with a nod.
"Okay, let me think about it.”
I pondered to myself.
[What? The first apartments you bought are already 10% up? Then, if it has risen by 20%, wouldn't it mean that you're getting a loan for almost the price you bought]
I grinned and calculated how much 80 percent of the 95 billion won I spent buying 50 units.
"That's 76 billion. Are you really saying you can pull 76 billion?"
Assistant manager Choi Yuna came to my room.
"We've got a call from Woods & Moore, an American private equity firm."
"Oh, really?"
"The CEO of Woods & Moore will fly on Friday evening. I'm staying at the Conrad Hotel."
"It's nice to stay close. Are you coming alone?”
"Two people."
"You're not a man or a woman, are you?"”
"You're both men. I will come to the hotel on Friday evening and check in at the hotel, and I will go sightseeing on Saturday and Sunday. And we decided to stop by our office on Monday."
"Oh, really? Is there a tour guide?”
"I've decided to entertain."
"Assistant Manager Choi? I can't even rest on Saturday and Sunday.”
"It's nice to see you together. I haven't been to a lot of places yet.
"May we pay for transportation and meals while entertaining you? Ask Assistant Manager Kim Hyung-sook to lend you her corporate credit card. Say I said yes."
"Okay. Thank you."
"Do you happen to know the main purpose of this visit?“
"I'll talk to him in person."
I went out for lunch with Deputy Chief Song.
Jang and Jeong went to the S Production inspection, so they went with Song.
Song asked me a question.
"Mr. President, are you willing to take over the S-Production convertible bonds?"
"I'll have to make a decision after due diligence."
"In fact, even if we do financial analysis, we can't evaluate authors, directors, and works."
"I heard that Mr. Chung has experience in entertainment due diligence.”
"Jeong will probably look at how many of the accounts receivable have contracted assets rather than that. Entertainment companies will have contract assets rather than plant property, plant and equipment."
"I'm sure."
"By the way, if the boss has shares in S Productions, should I ask him to mobilize his club to get some fresh air?”
"What do you mean?"
"If you give us 50 percent of the information in advance and ask us to raise the stock price, we'll cooperate."
"Hmm."
"We can't invest because we're an insider trading, but we can invest as much as we want, not as an insider."
"But are you familiar with the club?"
"Many of the fund managers at the bottom of Yeouido are associated with the club."
"Is that so?"
"It's not just me, but there are people who know about it."
"Hmm."
"It's just that we haven't been in touch lately because we don't need them."
I was thinking of using the stock club, but I quit.
If the due diligence had been carried out without making any noise, it would have been rumored to be going up.
I thought Hwang Mi-na and her father-in-law would also start hoarding from tomorrow.
S-production shares began to move in the afternoon.
The trading volume began to rise after rising more than 5 percent.
I thought that Hwang Mina's father-in-law would succeed in the sale only when the volume of the transaction was out.
A sense of responsibility for the customer