Chapter 882 - Presidential Candidate’s Little Brother (4) – Part 1
Chapter 882: Presidential Candidate’s Little Brother (4) – Part 1
SH Investment Partners’ President Geun-Soo Son was reading a news article from a newspaper. It was about Party Leader Jin-Woo Lee’s little brother working for Dyeon Korea as its senior director. President Geun-Soo Son flung the newspaper down on the table and leaned back on the sofa.
He then mumbled, “Dyeon Korea’s stock price hit the upper limit again today. It reminds me of Bosung Power Technology. That company is producing materials and equipment in the power industry, and its stock price also skyrocketed just because Ki-Moon Ban’s— a former Secretary-General of the United Nations— little brother was working for that company. I believe that Mr. Ki-Moon Ban’s little brother was the vice president of Bosung Power Technology at that time. Mr. Ki-Moon Ban implied that he might run for President at that time without giving a clear decision to the public yet.
Bosung Power Technology was and still is located in Chungju City which is Mr. Ki-Moon Ban’s hometown. That company was not a large company at all at that time; its sales revenue was not even 100 billion won. How much was its stock worth at that time? I made a note about its price somewhere… Oh, that’s right. It used to be 500 won per share, and it jumped to 15,000 won in no time after it became Ki-Moon Ban’s theme stock. If that is the case, how much would Dyeon Korea’s stock become worth? It’s 2,000 worth of stock. I guess it can well increase to 60,000 won. Well, maybe a little less than that.”
President Geun-Soo Son kept staring at his computer monitor. It was showing Dyeon Korea’s stock chart. The stock price was still on the rise.
Gun-Ho was in his car on the way to work in Dyeon Korea in Asan City when he received a call from GH Mobile’s President Song.
“Sir, we have several news reporters here looking for you.”
“They probably want to ask me things about Dyeon Korea. Please send them to Dyeon Korea. I’m having a press conference in Dyeon Korea today at 11 am. They must be all economic news reporters.”
“Understood, sir. I will send them all to Dyeon Korea.”
After getting off the phone with Gun-Ho, President Song thought about Gun-Ho.
‘President Goo intentionally brought the Senior Director Hyeong-Woo Lee person in Dyeon Korea in the first place in order to make Dyeon Korea’s stock a theme stock. I suspect that he probably bought Dyeon Korea’s stock personally. Maybe he bought around 100,000 Dyeon Korea’s stock using someone else’s name.’
President Song had no idea about the fact that Gun-Ho hand bought 3 million Dyeon Korea’s stock when it cost only 5,600 won per share. If he knew the fact, he would have collapsed in surprise.
When Gun-Ho arrived at Dyeon Korea and entered his office, several people followed him and greeted him. The company was desperately in need of Gun-Ho’s presence for matters other than a daily operation. The internal auditor came into Gun-Ho’s office and said, “We have several news reporters here already, and I told them that you would come to the meeting room at 11 am.”
“How many news reporters do we have?”
“We have 6 reporters so far. They are all economic news reporters from Seoul City.”
“It seems that some news reporters went to GH Mobile, and I asked them to come to Dyeon Korea. Once they arrive here, I will go and meet with them in our meeting room. Tell Secretary Seon-Hye Yee to bring them some snacks.”
“Yes, sir.”
When it was 11 am, Gun-Ho went to the meeting room. He was accompanied by Vice President Adam Castler and the internal auditor, and he also brought Director Yoon with him. There were about 9 news reporters in the meeting room waiting for Gun-Ho.
“Gentlemen, I’m Dyeon Korea’s President Gun-Ho Goo. I understand that you all came all the way from Seoul City, but I’m afraid that there is nothing much interesting that I can tell you.”
Some news reporters prepared a recorder and placed it on the table, and some of them started taking pictures of Gun-Ho. The reporters began asking questions.
“Dyeon Korea’s stock price is hitting the upper limit every day. Do you happen to know the reason why?”
“Well, I don’t know. I’m also wondering about it. As you can see, our company has been doing our business as usual without any changes. We are doing the same work as we did yesterday, and we will continue to do the same work tomorrow. If any of you can tell me why our company’s stock price is increasing dramatically, I would really appreciate it.”
“Are you personally close to Gongmyeong Party’s Leader Jin-Woo Lee, sir? I heard that he was the one who presided over your wedding, sir. Is it true?”
“Yes, it is true. When I took classes at the Advanced Center for Administrative Development at Seoul National University, he was the class president. And, I was the class manager. That was how he came to my wedding and officiated it. After my wedding, I haven’t seen him. We are working in a different field as you know.”
“Is it true that Party Leader Jin-Woo Lee’s little brother is working for this company as a senior director?”
“Yes, that’s correct. He is our senior director handling the international market development. He is now in Guangdong Province, China. He is not here in Korea.”
“How did Party Leader Jin-Woo Lee’s brother end up working for Dyeon Korea?”
“Well, he studied in the U.S., and he was well qualified for the position— a senior director in the market development department. That’s how he joined our company, and when he joined us, Party Leader Jin-Woo Lee was just a member of that political party. It happened before he was elected as the party leader. There was no request or anything to me from Party Leader Jin-Woo Lee about his brother. We were in need of a competent worker to develop our overseas market, and he happened to be the person who we found.”
“Why is he in Guangdong Province, China right now? Is he there to have some sort of a deal with the Chinese government or anything like that?”
“Not at all. He is our company’s senior director, and he is in China to perform his work duty. He is there to find our new factory there.”
“New factory?”
“Our company has an exclusive right to sell Lymondell Dyeon’s products to the entire Asia. As you know, Lymondell Dyeon is our partner, and it’s a world-class American company. We currently have several manufacturing facilities abroad, including Chennai and Noida in India, and also Suzhou City in Jiangsu Province and Tianjin City in China. We are planning to expand our market to Guangdong Province in China, Vietnam, Malaysia, and Uzbekistan. Party Leader Jin-Woo Lee’s little brother— our Senior Director Hyeong-Woo Lee— is handling this plan now.”
“How is Dyeon Korea’s ownership interest distributed among its shareholders?”
“You can easily find that out by opening the Financial Supervisory Service website— DART (Data Analysis, Retrieval, and Transfer System). I and my partner— Lymondell Dyeon— in the U.S. each of us own 34.6%.”
“Does anyone related to Party Leader Jin-Woo Lee share the ownership, such as his family or his in-laws like A Electronics?”
“Not at all.”
“You invested in Dyeon Korea through your other company— GH Mobile—, sir. GH Mobile’s annual sales revenue exceeded 100 billion won last year. How did you manage to own a company of that size at your young age, sir? A company that generates 100 billion won per year is certainly not a small company. Have you ever received any financial support or investment for your business from Party Leader Jin-Woo Lee or A Electronics, by any chance, sir?”
“I acquired a company called Mulpasaneop that was under the court receivership; it had a lot of debts. GH Mobile started from that company. Our primary client is H Group.”
“In conclusion, do you have anything that you’d like to tell the investors out there?”
“As you all well know, Dyeon is an internationally recognized global brand name. Because of the name, Dyeon Korea’s business has been very successful, and our sales constantly increase every year by 30%. We are a steady and healthy manufacturing company. We are currently expanding our manufacturing facilities and markets abroad, and we are anticipating making more than 100 billion won next year. Also, Dyeon Korea has no debt.”