I shook the building appraisal sheet with me in front of the Woods & Moore president.
"The market price is too high for the appraisal price."
"We've seen the data. Isn't the market price different from the appraisers in Korea? Furthermore, that assessment was two years ago."
"Even if there is a difference, too much difference is not good. If it becomes known to the outside world, it means we don't trust the Korean ratings agencies."
"Hmm. What would you do if Gerald Dean didn't give you a discount?"
"You've got to bounce.”
"What do you mean bouncing?"
"If you don't give me a 10 billion discount, I'll say I won't sign the contract. If I leave because I don't want to, then Woods and Moore will leave because they can't."
"Then they'll find another buyer.”
"If there's news of the breakdown in the papers, no other companies will. Would everyone be happy to say that you are trying to sell too much for the appraisers and that you are denying the Korean appraisal agency?”
"Well, that could be."
"In addition, if the paper wants to make 40 percent profit and eat and run over the acquisition price, the tax authorities will also investigate."
"You mean something's going to you said.
"You may or may not get caught, but when you brush, something gets caught. Then it could be a travel ban."
"Hmm."
"It's a problem that goes back and forth, going back and forth. Why don't you give it a try? I think if you ask me to cut 10 billion, I'll ask Gerald Dean to negotiate."
"Some of our investments have been funded by Koreans in New York..."
"If you don't buy it because it's too expensive like the thief's Simbo, then fund investors will understand. I'd rather trust the boss who prevented the loss."
"Okay, I'll give it a try."
I bumped a glass of wine against Martin Hayward and Hubert Palmer.
I saw that cutting the price does not spill the property of the Republic of Korea abroad that much.
I thought this would be a way of patriotism.
The next morning I asked Chang for his cooperation.
"We're going to renegotiate the building acquisition."
"Isn't the price bargain over?"
"It's over, but I'm going to cut it a little bit more.”
"Will it work?”
I lowered my head and spoke quietly to Jang.
"You have a friend who's a reporter for the Economic Daily, right? Tell him to come to the E Tower building by 10:30. We'll tell him we're here to get the results of the takeover deal."
"Even so, he showed interest. We said that we would participate in the E Tower building acquisition, so we asked for the result. It's a big building sale, so I think he was going to write an article."
"If negotiations don't work out, I'll hold a press conference. We're going to have a press conference saying the Americans are going to be exorbitant and trying to eat and run."
"Then there should be more reporters?”
"That's it. I'm asking our staff to take the camera and pretend to be a reporter. A real reporter is a friend of mine, but all we have to do is pretend to be taking pictures."
"You mean best man. But employees need cameras, right?“
"The camera rental shop is in front of Hongdae. I can rent a canon or Sony camera for 12 hours for 30,000 or 40,000 won."
"Huh, is that so?"
"Assistant Manager Kim Hyung-sook and Assistant Manager Choi Yu-na know their faces, but you just have to carry the camera to General Manager Jang, Deputy Director Song, Deputy Director Chung, and Assistant Manager Hong to make sure they look cool."
"Haha, that sounds like fun.”
"You should tell the economics reporter. Say it's a desperate effort to stop the local spill."
"Haha, I understand."
Hong also applauded.
"Ho-ho, that sounds like fun.”
I looked back at Chang and said again.
"The meeting room will be guided by Choi or Kim."
"Okay. Then I'll rent a camera right away. I was going to go to ING Life Insurance's press conference today, but I'm going to E Building."
"A press conference for Ing Life Insurance press conference?
"Yes, there's an IPO press conference today at the Conrad Hotel, right next door to ING Life Insurance."
"Really?"
"We're bringing together investors to enter the KOSPI and giving them a briefing on the company's introduction and the attractiveness of investment. We've been contacted to attend."
"Is that so?"
"They say the amount of public offering is over 1 trillion won."
"That's quite a lot."
"That's just sales of old shares without issuing new shares. Anyway, I have to go to E building today, so I'll take the camera with me first."
I went back to E building at 10.
Of course, Assistant Manager Kim Hyung-sook and Assistant Manager Choi Yu-na followed along.
We sat opposite at the conference room table.
Gerald Dean looked at Assistant Manager Kim and Assistant Manager Choi and said,
"You did a property, plant and equipment inspection yesterday, and it's all right, right? It will match the document presented. Then Choi Jun-sik, and Martin Hayward, president of Woods & Moore! Why don't you sign a sales contract?"
I said.
"President Gerald Dean and President Martin Hayward set the price of the building at 280 billion won during their primary meeting.“
"Yes, this is Legendary Price considering Korea's market valuation."
"I don't understand. Here's the appraisal sheet, and I think it's overpriced."
"There is a difference between the appraisal report and the market price. What's more, the appraisal report was two years ago."
"But if the difference is less than 10%, I understand, but I think it's too much puffed rice."
"What do you mean puffed rice? The bank said we should get that."
"The bank doesn't exactly see through the market. I think 10 billion should be down for the right price."
"Pears, 10 billion? So you're taking over for 270 billion?”
"Yes."
"Ay, I can't do that."
"Then we can't either.“
"Then we have no choice but to look for another original buyer."
"280 billion is a 40 percent profit from the acquisition cost. Do you benefit so much in the United States?”
"If you keep saying that, it's hard to get this deal done."
"Doesn't it occur to you that President Gerald Dean has set the sale price at too high a price?"
"British Prudential, which sold the country's last building, made 100 billion won in profits when it sold it to Koramco Asset Trust in Korea."
"It's been 11 years. There is a Korean proverb that even Gangsan changes in 10 years. But 80 billion in just six years is almost like eating and running."
"Eat and run? You're going too far."
"I can't do it anyway. Find another original buyer."
Gerald Dean looked at the Woods & Moore president with a puzzled look on his face at the unexpected situation. You understand, don' He looked like he did.
However, Woods & Moore's CEO Martin Hayward also rose from his seat.
"We can't help it if our partner comes out like that. I can't sign a contract."
"Huh? Huh? Look!"
As I left the conference room, people with cameras rushed in.
It was a reporter for the business magazine and our staff, a friend of General Manager Chang.
Our staff borrowed a high-end camera and shot my face with a bang.
The economics reporter asked me in an interview.
"I'm here because I heard you bought Yeouido's landmark E Building. What's the acquisition price?"
"The takeover talks have broken down. The U.S. fund company, the owner of E-Building, is asking for 280 billion won. It's too different from the appraised value. The U.S. fund seems to think that all of Korea's appraisal agencies are false."
The economic reporter kept putting a microphone in front of me.
I raised my voice.
"It means we're going to make as much as 80 billion won in six years. Is Korea a good country?"
When I talked to a reporter from an economic magazine, Jang, Jeong, and Song took pictures continuously. Hong pointed the tape recorder at me and nodded whenever he spoke.
Gerald Dean asked the managing director of his company in English.
"What are they talking about?”
Managing director Lee Jong-tae translated what the business reporter said.
shouted Gerald Dean.
"Oh, no! Stop talking to reporters!"
Gerald Dean picked me up and put me back in the conference room chair.
The size of the giant lifted me up and I sounded light.
Gerald Dean shouted to reporters and our staff.
"Get out, please. Negotiations are in progress now. I'll let you know the results later, so get out!"
Gerald Dean then chased the business reporter and our staff with cameras. And locked the conference room door.
Gerald Dean was so excited that he gulped down the bottled water on the table.
"Wait a minute. I'll compromise with the US headquarters."
Then, I drank bottled water with a gulp.
Martin Hayward told Gerald Dean.
"Then compromise with the head office and have the meeting again in the afternoon. I'll try to persuade Choi."
I walked out of the meeting room.
I heard Gerald Dean calling from behind. He seemed to be in consultation with the head office. Since the U.S. is in the middle of the night, it seems that the president of the headquarters is waking up and discussing it.
I had nothing to lose.
However, Woods & Moore's president and vice president seemed anxious, as did his facial expressions.
In particular, Hubert Palmer, the vice president who is in a dream to come to Korea and work, looked yellowish.
Hubert Palmer was about to come here to register as a foreign resident and personally buy an apartment in Gangnam.
This was because if the negotiations were broken, it would be ruined.
I patted Hubert Palmer on the back and said,
"It'll be fine. Don't worry. Let's go eat."
I took Assistant Manager Kim and Assistant Manager Choi to the octopus bibimbap restaurant.
Here we ate bibimbap deliciously and went to a coffee shop and drank coffee leisurely.
I had some time to walk around the Ankara Park in Yeouido for exercise.
I got a message from General Manager Chang.
[I'm at a galbitang restaurant with a reporter from the business magazine, Deputy Chief Song, and Deputy Chief Jung. I think today's operation is a success, given that the American face has changed.]
I said to myself, "What's success!
It was because it would be successful only if the price was cut.
If I cut 10 billion won, I thought it would be equivalent to exporting hundreds of Sonata sedans.
The meeting resumed in the afternoon.
Gerald Dean was clearly tired.
"I've discussed it with the president of the headquarters. We say we eat 40 percent, but we've spent six years here. They also offer capital gains tax cuts for long-term holdings, but they still have to pay taxes, so they don't really have much in their hands."
"But your investment is a success. I look forward to your sincere response."
As a result of the discussion with the head of the headquarters, we have discussed not to exceed 40 percent in capital gains. It's too much to cut 10 billion won, and I'll give you 5 billion won't you? What do you think? I think we've shown a forward-looking attitude."
Then Gerald Dean even smiled with gestures.
At the sound, Woods & Moore's president and vice president smiled.
I was satisfied, but I managed my facial expression.
I said.
"For now, we'll talk to our partner, Woods & Moore."
"Then negotiate. We'll leave you alone for a moment."
Gerald Dean then took the managing director and the chief of the accounting department out.
Woods & Moore's president Martin Hayward said with a bright smile.
"5 billion is an unexpected windfall. Let's make a contract before we change our minds."
"Well..."
"This is a good price. We also did a real estate market survey in Seoul. Let's make a deal and work together and have fun."
"Well."
I took the time and pretended to approve it in the end.
"Okay, let's make it a deal for 275 billion won, which is a 5 billion-cut."
hereditaryization of wealth