Story of a Big Player from Gangnam-Chapter 838 - Acquisition of Miura Machines (3) – Part 1

Chapter 838: Acquisition of Miura Machines (3) – Part 1

After reviewing the list of the machines that Miura Machines’ plant manager prepared and brought to show GH Machines, Gun-Ho said, “About the right to sell, it’s not very clear how we should handle it in accounting here. So, I was thinking that if you could include it in the list of the machines that we are taking over, that would be more convenient; I mean we include the right to sell as if it is one of those machines that we buy. What do you think?”

“You mean, for example, if one of the machines is worth 40 million won, we list it as 50 million won to cover the price of the right to sell?”

“That’s right. If we list maybe five machines of them with a higher price just for the record, it will do.”

“I understood what you mean. I will do that.”

Miura Machines’ President Tsuyoshi-shi Miura and GH Machines’ President Jong-Suk Park sat at the table facing each other, and they signed the purchase and sales contract. It was not a contract establishing a joint venture, but it was about one company taking over all of the machines that the other company owned, so they needed people there as witnesses. Gun-Ho, Miura Machines’ Plant Manager Yanagi Masatoshi, and Mr. Yoshitaka Matsui who came along with them as an interpreter sat at the table with the contract signers as witnesses. And, GH Machines’ office manager took pictures of the scene with a smartphone for record.

For Jong-Suk Park, it was his first time signing a contract on a business entity level. His face hardened, and he looked dead serious. Each signer signed the contract and exchanged it with the other. Jong-Suk Park and Miura Machines’ President had a handshake and completed the business deal.

President Miura looked at Gun-Ho and said, “We are expecting to receive the intermediate payment after 10 days, and once we receive it, we will ship the machines to GH Machines through FOB (Free on board) shipping. Once the machines arrive at the port in Korea, we expect you to send us the final payment.”

“We will do that.”

“Also, we will send three of Miura Machines’ engineers here, who will operate the machines as well. I will make sure that they arrive right after we receive the final payment. We’d like GH Machines to take care of those three engineers’ accommodations and food.”

“We will do that.”

“As to their wages, I understand that Korea and Japan have very similar economic power now, but even so, I want you to pay them 1.3 times more than what they are currently receiving in Japan. I think that’s reasonable given the situation where they work while staying away from their home country.”

“I see. How much do the workers in Miura Machines make?”

“Our managers get paid 350,000 Yen. If they work overtime, they receive an additional 1,300 Yen per hour. The workers holding positions below manager receive a little bit less than this amount, and the workers above managers make a bit more than that.”

“Hmm, is that right?”

“We will send the personal information and the payment slips of those three engineers to President Park by mail.”

“Sounds good.”

After completing the deal selling his business to GH Machines, Miura Machines’ president seemed to have mixed feelings. He was sitting on a chair gazing vacantly into space.

Gun-Ho asked him, “How’s your health?”

“It’s not very good, but I can still make a short trip like this one.”

“Are you not planning to continue to work anymore?”

“I can’t even though I want to. Of course, my health condition is the major reason why I can’t continue to work, but also, I’m about the age to retire as well anyway. Many people retire at my age. I’m going to spend the rest of my life relaxing at home. I want to read books, and also, I’m planning to spend some time with my friend—Sakata Ikuzo—who is living in Motomachi, Yokohama City, playing Asian chess with him.”

President Miura sounded pitiful, Gun-Ho thought.

Gun-Ho said, “Why don’t you visit Korea from time to time if your health allows it? You can stop by GH Machines and give them some advice and guidance. We would greatly appreciate it. The area has good hot springs as well; I’m sure you will like it.”

“Thank you, Mr. President Goo. Even though the three engineers from Miura Machines will stay here for a short period of time, I do appreciate you for having them here. Our plant manager—Yanagi Masatoshi—is actually one of them. I hope you enjoy his company and his work.”

“Oh, Mr. Plant Manager Yanagi Masatoshi will be here to train our workers too? We are so happy to work with you, Mr. Plant Manager. Thank you.”

Plant Manager Yanagi Masatoshi smiled feeling embarrassed.

The Japanese visitors had a tour at Dyeon Korea as well. Dyeon Korea’s senior chief research officer could speak Japanese, so he showed them a group tour around Dyeon Korea’s manufacturing facility.

While having a tour, President Miura noticed that there were a lot of senior workers at the worksite including the chief research officer and the internal auditor. President Miura held Gun-Ho’s hand tightly and said, “You seem to respect seniors, Mr. President Goo, and let them continue to work. I appreciate that.”

Gun-Ho replied, “They have extensive work experience which is an important asset to our company.”

The Japanese visitors nodded their heads as they looked around Dyeon Korea’s research center and the production site with 16 huge extruding machines.

“Dyeon Korea is a public company,” Gun-Ho told them.

“It’s just unbelievable that you established all of these companies in a short period of time, Mr. President Goo. I believe you can become a great industrialist like Karanosuke Matsushita.”

“Karanosuke Matsushita? He is a legendary industrialist. I can’t possibly be like him.”

Gun-Ho said as he laughed.

Karanosuke Matsushita was a Japanese industrialist who founded Matsushita Denki (Matsushita Electric Industrial Company). He had 570 companies scattered world-wide with 190,000 workers. Gun-Ho once read a biography book about Karanosuke Matsushita, in his office in GH Building, Sinsa Town.

Karanosuke Matsushita was born into a wealthy family, but as his family collapsed when he was still a child, he could only finish elementary school. He worked as a clerk at a bicycle store before getting into the business field. There was a reason why Gun-Ho liked Karanosuke Matsushita. That was because he was also the founder of Matsushita Seikei Juku (the Matsushita Institute of Government and Management).

The Matsushita Institute of Government and Management was a Shinjuku (private school) that Chairman Karanosuke Matsushita founded. It was established for the purpose of fostering young Japanese elite politicians hoping that they could give rise to the second Meiji Restoration. In Korea, if a person, who didn’t have a rich family background or didn’t have a prestigious education background, became successful, that person most likely threw the “ladder” to the ground, that was used by others with a similar background to climb up to a higher position. In other words, that person would hinder those with the same disadvantageous background in society becoming successful like himself. However, the Matsushita Institute of Government and Management embraced everyone without discriminating against their age, education background, or gender.

‘If that school was in Korea, it would have required an education background of at least four-year college graduate or higher. And it would also have asked for all sorts of papers from the applicants, showing their college grades, certificate for a second language, etc. This is why I like Chairman Karanosuke Matsushita.’

Gun-Ho took the Japanese visitors to Onyang Hot Spring Hotel.

“This hotel has hot springs. You can take a deep rest in this hotel tonight, and leave for Seoul City tomorrow.”

“Thank you, Mr. President Goo.”

“Please drop your luggage in your room. I will meet you at the lobby in a moment. We will have dinner at a Korean restaurant that specializes in Korean beef short ribs. I want you to taste Korean tender beef that is similar to Japanese Wagyu beef.”

A moment later, Gun-Ho’s party headed to a popular Korean restaurant in Asan City that offered delicious Korean beef short ribs.

The Japanese guests seemed to truly enjoy the dinner. They might be feeling relieved after achieving the goal of their trip which was to sign the sales contract. They ate a lot.

“How do you like it? Is it good?”

“Hai, Oishidesu (It’s tasty).”

President Miura raised his thumb up.