YM778.TV Chapter 901 - Rumors About Acquisition (3) – Part 2
Chapter 901: Rumors About Acquisition (3) – Part 2
Gun-Ho said to Vice President Kim, “I already took care of it. Keeping every single current employee is part of the deal. So, you have nothing to worry about.”
“Since W Group is a large company, I’m also a bit worried about how they would treat us; I mean possible power tripping and stuff.”
“I doubt that. I had a meeting with W Group’s chairman and W Chemicals’ CEO the other day. They seemed to be all good people.”
“You met with W Group’s chairman, sir? Isn’t that the one who is infamous for treating his employees so badly like kicking their shin?”
“Well, that happened a long time ago when he was a lot younger. He is an old man now, and I doubt that he would still do that now. Things are different these days. That sort of behavior doesn’t work with the younger generation.”
“That’s true...”
Vice President Kim seemed to still be concerned about possible new changes that were coming.
“W Group’s W Chemicals have extensive sales networks all over the country. They do have sales networks abroad as well. Dyeon Korea can quickly grow using its network. Your salary will increase rapidly along with it. Moreover, after two years when the American president has to resign from the president position, maybe you would be appointed to that position. Who knows?”
Vice President Kim smiled.
“So, don’t worry about it. And, I have a favor to ask you. I want you to help Jong-Suk Park.”
“President Jong-Suk Park, sir? What about him?”
“As you know, his area of expertise is to build machines. He has no experience with sales. If you could guide him or help him with sales, it would be great. Or, maybe you can introduce someone to him, who is good at sales.”
“Introducing someone to him? I actually have someone who I want to recommend to him.”
“Who is it?”
“There is a company called Oshin Tech. It’s one of our client companies. It’s a moulding company. One of their assistant managers is really good. He is younger than President Park, by maybe 1 or 2 years. So, they both would feel comfortable working together.”
“He is working for that company right now. Will he be willing to quit that company and move to GH Machines?”
“Whenever I see him, he has always asked me to connect him to a new job. It seems that he has some issues with his direct boss—manager.”
“What kind of issues does he have? Did he tell you?”
“He is a smart guy, and the manager didn’t like it. So, whenever the manager sees an opportunity, it seems that he gives him all sorts of troubles. That manager is the brother-in-law of that company’s owner president, so practically there is nothing much that assistant manager can do about it.”
“I see. Well, can you set up a meeting between him and President Park without letting anyone know about it?”
“Yes, sir. I will do that. And, sir... when will GH Mobile make an announcement on their promotions?”
“They will announce it on the same day as Dyeon Korea will, which is December 15th. Two of their executive officers will be promoted this year.”
“Two executive officers, sir?”
“Their chief research officer is holding a director position right now. He will be promoted to senior director. And, the production manager of team 1 will be promoted to director.”
“Hmm, I see no surprise there. Their production manager in team 1 has been with the company for a long time. He is now 50 years old, I believe. I think he deserves the promotion.”
“When Jong-Suk Park was working there as their plant manager, the production manager of team 1 was probably stressed a lot. Jong-Suk Park is way younger than him, and he was his boss.”
“As a matter of fact, when President Jong-Suk Park joined GH Mobile, the production manager came to me and complained about having a boss who was way younger than him. He even told me that he didn’t want to work for the company any longer.”
“Oh, he did?”
“And, it didn’t even take a month for him to start liking President Jong-Suk Park. President Park is excellent at what he does, and he also treats people around him as if they are his family, and he calls everyone, who is older than him, as big brother. And his eyes... it’s not hard to figure out that President Park is the type of person who wouldn’t back down from fights and he would always win, by looking at his glittering eyes. No one would want to challenge him.”
“That fighter is having a hard time in his life right now, in running his business.”
“Haha. I can see that, sir. Running one’s own business is a job not for everyone.”
“And, I decided to sit back from being involved in daily operation of businesses, and take the chairman position. It will be announced when GH Mobile makes an announcement on promotions. GH Mobile will be run by President Song alone. I think it’s better that way.”
“Sir, you made the right decision. The presidents of all GH companies have felt uncomfortable about you holding the same job title as them. When I visited China, President Min-Hyeok Kim and President Jae-Sik Moon told me about it too. I think it’s the right decision.”
It was Friday.
Gun-Ho went to work in GH Building, Sinsa Town. As soon as he entered his office on the 18th floor, he turned on his computer and opened the stock trading application.
“Dyeon Korea’s stock price didn’t hit the upper limit today, but the price is high. It’s around 50,000 won. The public announcement about the acquisition is scheduled at 11 am today, so the price of 50,000 won will be maintained until then.”
Since everyone was expecting to see Dyeon Korea’s response to the rumors on acquisition later that day, investors in the stock market seemed to be careful in buying or selling Dyeon Korea’s stock at the moment.
Gun-Ho received a call from SH Investment Partners’ President Geun-Soo Son.
“Sir, it’s me, Geun-Soo Son. Did you have a chance to check Dyko’s stock price today?”
“Dyko?”
“Small investors in the stock market call Dyeon Korea as Dyko these days.”
“Ha, really?”
“Dyko’s stock price increased a lot today, but its trading volume decreased. I think they are being careful at this point.”
“I want you to sell some of Dyeon Korea’s stock today. And, do that before 11 am.”
“Yes, sir.”
After 11 am, Dyko’s stock price started dropping, and by the end of the day, the price dropped by 5%. By reading Dyeon Korea’s public announcement on the acquisition rumors, investors assumed that the acquisition by W Group would not happen, and they were disappointed. In fact, the announcement stated that the possibility of acquisition was reviewed, but there was nothing that they could confirm at this time.
Gun-Ho had a pork cutlet for lunch that day. When he came back to his office after lunch, he received a call from SH Investment Partners’ President Geun-Soo Son.
“We sold 500,000 shares at the average price of 52,000 won, sir.”
“Well done. What’s the current price per share?”
“It’s 46,000 won, sir.”
“From now on, whenever the price goes below 40,000 won, buy them. We will see another price peak soon.”
“I agree with you, sir. Many investors are still holding Dyeon Korea’s stock. It occurred to me that those people are still expecting good news.”
After getting off the phone with President Geun-Soo Son, Gun-Ho went to the bathroom. On the way back to his office, he heard Director Kang letting out a moan of surprise.
“What is it, Director Kang? What are you looking at?”
“Oh, haha. I just saw a single house in Bangbae Town on the market for auction sale. It’s priced for 9 billion won.”
“I didn’t know there are single houses in Bangbae Town. I thought that town has only condos.”
“There is a village called Seorae Village behind the National Library of Korea in Bangbae Town. This single house for sale is located in that village. I was surprised by its high price.”
“How large is it?”
“The land is 300 pyung large, and its floor space is 80 pyung large, sir. It has a very nice garden.”
“Did it just came out?”
“It failed to be sold once. It started with the price of 9 billion won, and now its price is 7.2 billion won.”
“Hmm, really? It is expensive for a house. I guess that that’s why it’s having a hard time to find a buyer.”