We have formally signed a contract for the sale of the building.
Things went fast because there was an existing corporation called E Tower. There was no need to set up a separate joint venture.
Gerald Dean has decided to take over 140 billion won in debts at foreign S banks and leave us.
Gerald Dean will leave with 135 billion.
He was leaving with a good deal of business.
I don't know how much I voluntarily report the transfer tax.
Kim Hyung-sook said, "Even if there is a deduction, it will be a considerable amount."
Still, he made a profit.
After signing the contract, I announced that the contract had been signed in front of our staff disguised as economic journalists and reporters.
The E-Tower Building has been contracted for 275 billion won as of today. The buyer is J.S. Invest in Korea and U.S. private equity firm Woods & Moore each invested 50%.]
After the press conference, Woods & Moore's president and I visited a foreign S bank nearby.
I met the branch manager, James Lee.
The branch manager's office has rewritten a loan agreement for debt succession.
A pretty-looking bank girl brought her car to the branch manager's office.
The agreement did not create a new corporation, so only the joint surety needed to be changed to the existing E Tower loan. Me and the president of Woods & Moore signed it.
Branch manager James Lee opened his eyes and said with a smile.
"You seem to have bought the building well. According to analysts at our bank, Korea's real estate is expected to rise significantly in the future. It's not as much as Hong Kong, but it's going to be."
"Shall we?"
"Think about it. Why don't you go up to this little piece of land where people are living in a mess? You must go up to Gangnam or Yeouido in Seoul."
"I really hope so."
James Lee crossed his legs and said,
"Korea will now be divided into people who own real estate and those who don't. It will be hereditary."
I said something presumptuous about the subject of American nationality that this guy knows nothing.
But it seemed to be true.
Didn't I tell Hwang Mi-na to buy a house and my employees to buy a house because my real estate was rising?
James Lee spoke in a stealthy voice.
"When real estate goes up by next year or so, get a building real estate appraisal again. If the valuation goes up, we'll make additional loans."
"The loan increase is good, but won't interest be paid? It's just a burden."
"You can raise the rent. If we raise the rent for the underground shopping mall or the office, the interest will be covered. And wouldn't you be able to invest in another place with the money you borrowed?"
"Okay, I'll keep that in mind."
"And send it to us when the staff says they're buying a house personally. The interest rate is slightly higher than that of Korean commercial banks, but the threshold is low. Korea has a high threshold for borrowing money, right?”
"I'll take that into consideration, too.
Martin Hayward looked at me and said,
"As vice president, All Hubert Palmer is buying an apartment in Gangnam, we can use it to get a loan."
"If Hubert Palmer's home is in Gangnam, he'll have to rent a car to and from work."
"No. Hubert Palmer says he doesn't live in Gangnam, but he rents. He said he would make a gap investment."
"Gap investment?"
My face darkened for a moment.
If people with real money invested in this way, housing prices in Gangnam seemed to rise.
I told Martin Hayward.
"I'm tired today, so let's meet again tomorrow. Thank you for your hard work today."
"CEO Choi worked harder than I did."
"I'll ask the managing director, who is in charge of E Tower, to meet you tomorrow morning at 9 a.m. Let's have a formal meeting tomorrow.“
"Okay."
I called the managing director who is in charge of E building E.
I knew the phone number because he gave me his business card.
"I'm the president of J.S. Invest."
"Ah! Boss. Are you done with your work?"
"It's over. Let's meet at 9 a.m. tomorrow. I'll have a meeting with the staff tomorrow."
"Then I'll put all eight of them together.
"Please organize and prepare a personnel record railway."
"Okay, sir.“
I've had the experience of acquiring Pitestech, so I thought it was no jab to take over and run such a small organization.
I came back to J.S. Invest's office.
And I thought about it by myself drinking tea.
[E Tower is a form of investment by JS Invest Co., Ltd., so should we send the president, Mr. Kim Hyung-sook?]
I didn't think that would work. No matter how small an organization is for a young woman, it would be hard to manage eight male tower.
Although I was young, I was the owner, so I naturally had charisma, but acting manager Kim Hyung-sook had a different stance.
The development of JS, which has no employees, seemed to be possible for Kim to be a formal president, but not a place with employees.
I'll have to go to the president of E Tower, Inc. But I have to work full-time... I have an American vice president, tell him to take care of it, and I'll come and go from time to time?]
With this thought, I decided to be the CEO of E Tower.
In the evening, the Economic Daily carried an article on the sale of E Tower Building.
This article was also reported in other economic newspapers to see if it was provided by a reporter from the business magazine.
E Tower Building, a large building in Yeouido, was sold today.
The E Tower is a mammoth building with 22 floors above ground and 7 basement floors with a floor space of 14,000 pyeong.
Korean private equity firm J.S. Invest and U.S. private equity firm Woods & Moore invested 50 percent each.]
[The acquisition price is known to be 275 billion won, and D, the U.S. private equity firm that sold it, will reap a pre-tax profit of 75 billion won in six years.]
I grinned.
I don't know how much debt I have, but I thought others would think differently about me when I took over a large building.
Sure enough, the phone started ringing.
First, there was a call to Vice President Han Kwang-jin of Pitestech.
"That's me. You took over a large building in Yeouido. Congratulations."
"It was acquired jointly with an American private equity firm."
"Pitestech executives also said they were proud of you for taking over the big building."
"Thank you."
The president of Mogang Tech also called.
"You're great, too. You took over that big building. Not long ago, there was a gathering of my college classmates at a restaurant in the basement of the building. It's a very magnificent building, but you took over.”
"Thank you."
Someone copied and put a newspaper article in the Kakao Talk room run by Oh Dong-min.
[Our proud friend Choi Joon-sik has taken over the Yeouido large building.]
[Oh! Awesome!]
[Wow! President Choi is flying!]
I didn't hate it. I just enjoyed it.
Yoon also called.
"Congratulations on your contract. Even if the corporation takes over as it is, it's in the form of a joint venture inside, so the joint venture or the sales contract signed with Gerald Dean should be notarized?"
"I'll send an employee."
"Then will your brother move from IFC Building to E Tower now?"
"I'm not going to switch, I'm going back and forth."
"It's like an emperor who lives completely in a separate palace. I envy you!"
"Thank you."
A few more were greeted.
Manager Hong came to my room when I was about to leave work.
"Mr. President, are you done with your work now?"
"Good job being a fake reporter."
"It was fun. We're patriotic because we cut the acquisition price, aren't we?"
"Yes! It's patriotic. We stopped the local spill."
"Your mother is listed on the Internet real-time charts."
"My wife?"
I was surprised to see what had happened to Eunyeong.
Hong left my room, only saying this.
I didn't go home from work and looked on the internet quickly.
Husband of KBS announcer Park Un-young swallows E Building, a large building in Yeouido. It swallowed a whopping 275 billion won building.]
Some say that I received 140 billion won in loans from a foreign S bank and 50 percent jointly participated with Woods & Moore, but these words were omitted and acquired at 275 billion won.
Park Un-young's story clearly didn't mention her name, but I don't know where she found out.
There seemed to be a rumor that netizens spread these articles here and there on fan cafes.
There are a lot of comments, too.
"Wow! How much is 275 billion?”
"The building that singer Rain and Seo Tae-ji bought in Cheongdam-dong is not worth a damn."
"I was envious of Shin Dong-yup because he said the building he bought in front of Hongdae was worth 12.8 billion won, but that's ridiculous.”
"Park Un-young Ana is married to a conglomerate."
There was a call from Eunyeong.
"Oppa, what happened?”
"What happened to you?”
"I heard you took over a big building in Yeouido? Many people are asking at the broadcasting station, too. I asked the announcer director and the director."
"Oh, that. It was acquired with the money of fund clients."
"I know that, but the newspaper article doesn't come out that way, so it looks just right to misunderstand. They all call me a chaebol wife."
"Now it will be like that in the future."
"Pee, you don't have to do that. All I need is a living. As long as you're healthy.”
This remark touched me for a moment.
I pulled myself together and said it again gently.
"The building was acquired in partnership with a private equity firm called Woods & Moore in the United States. Also, half of the acquisition price was taken over by S Bank, a foreign bank, due to lack of money."
"People in the world don't know the details. Thanks anyway. Thanks to my brother, I heard a chaebol wife. Ho Ho Ho."
Although Eunyeong said so, there was no sign of dislike in her voice.
Rather, it was a proud voice.
Another phone call came from lawyer Yoon.
"It's me. Are you free this evening?"
"Today?"
"I got a call from James Lee, head of S bank, to meet you. Let's have dinner together.”
"With you?"
"What are you doing? Would you like to meet your brother?"
"I've signed all the loan agreements to James Lee this afternoon.”
"It's not like that, it's like you want to get to know each other privately. You seem lonely when you come to Korea, right? You must be happy to meet me who can speak a language. He said he'd buy a meal.”
"I don't think he's a bad guy, so keep him company. Who else knows? You don't know if you'll be good at lending money when you buy a house, do you?"
"Huh, when will I ever buy a house? We're supposed to meet in Yongsan, so can you come out?"
In fact, I couldn't speak a little English like James Lee or Yoon.
They have lived in the United States since they were young and are Americans of nationality.
I couldn't say that sentiment was right.
We'll meet and talk about our hometown, but I don't think it's a place for me.
"Just two of you today. I'm not feeling well today, maybe because I've been taking a lot of care."
"Really? Then you can't. It's just the two of us."
"Do so. Later, I will invite James Lee and his brother separately to buy a drink. It must be nice to meet someone like James Lido."
"You said Woods & Moore's vice president is full-time, right? Maybe he should join us later.”
"Do so. Woods & Moore's vice president Hubert Parma can't speak Korean, so he'd love it if you could be my friend."
"So there must be a lot of Americans out in Korea."
"It's because we don't know, but it seems a lot. I don't think you'll ever feel lonely in Korea either."
"Is that so? Haha."
When I hung up, I suddenly remembered what James Lee said to me during the day.
Korea will now be divided into people who own real estate and those who don't. This condition will be hereditary.]
Somehow I felt that our society was going in the wrong direction.
E Tower, Inc.