Story of a Big Player from Gangnam-Chapter 919 - Distribution of Dividends – Part 2
Chapter 919: Distribution of Dividends – Part 2
Once she was inside the house, Young-Eun checked everything. She opened all the drawers and cabinets and turned on the faucet to see the water flow. She also stared at the control panel of the gas boiler system for heating for a while.
“I can’t wait for summertime. It will be really nice.”
“Does that mean, it’s not that good right now?”
“The house is huge. I guess we should expect to receive a high utility bill.”
Young-Eun was looking at the garden through the large window in the living room. Since it was wintertime, the garden was not greenish even though it was very well organized. But, Young-Eun liked it anyway. The view and the fresh feeling that it was offering seemed to be priceless for Young-Eun who had always lived in a condo.
“Oppa, I’m going to plant flower trees over there. And, you see the juniper tree over there? I will plant a maple tree and a jujube tree next to it.”
Young-Eun looked excited. She was holding her hands up covering her mouth as if she was trying to keep her excitement from leaking out of her body.
She then came close to Gun-Ho and held him with her arms; she kept that position for quite a while. “Oppa, thank you.” She was crying. Gun-Ho wiped the tears off her face with the back of his hand. He then pressed his lips against Young-Eun’s pink lips for a while.
Sometime after Gun-Ho’s family moved into the house in Bangbae Town, they celebrated Sang-Min’s first birthday. Gun-Ho invited his relatives along with his father-in-law and Young-Eun’s aunt in Yangpyeong County. The guests, who came to celebrate the child’s first birthday, were all startled when they saw Gun-Ho’s new house.
“Wow. I’ve never thought that I would see an enormously huge house like this in Bangbae Town, Seoul City.”
Sang-Min was born into a wealthy family. His father was a rich businessman, and his mother was a medical doctor. Sang-Min was wearing a traditional Korean baby boy’s outfit on his first birthday. A table full of food was set. Mr. Yoshitaka Matsui was there to take pictures of the event. He took pictures of the baby and the family.
When the guests were leaving for the day, they all looked satisfied. The place was more than comfortably spacious, and the food was good, and the baby was so cute.
It was March.
Each GH company sent two copies of their external audit document to GH Development addressing Gun-Ho, and they distributed the dividends as previously instructed by Gun-Ho. The first company that distributed its dividends was GH Food Company in China. Gun-Ho received a call from Jae-Sik Moon.
“Mr. Chairman? It’s me. We finished the dividend distribution today.”
“Good. I received your external audit document. You did a good job.”
“I sent you your dividend of 560 million won to your personal bank account. Please verify it when you have time.”
“Hmm, okay.”
“And, as to the number of our dividends, I took 70 million won, and my wife took 70 million won. I’m sorry that Antang Transportation Company didn’t make enough profits to distribute dividends. I’m sure that we will be able to do that next year.”
“Alright. Keep up the good job.”
Gun-Ho then received a call from Min-Hyeok Kim in Suzhou City, China.
“We distributed the dividends today. You will see your 1.71 billion won in your bank account. Check it and let me know. Mine is 90 million won.”
“I guess you will pay off your condo in Suzhou City with the money.”
“It’s almost paid off. I will work harder this year.”
“Alright. Keep up the good work.”
GH Development had no profits to distribute dividends, and so did GH Logistics. GH Media sent Gun-Ho 1.14 billion won for his dividends.
Gun-Ho’s TowerPalace condo was sold, and he had the sales proceeds of 2 billion won in his bank account.
‘If I add all these dividends sent by Min-Hyeok Kim, Jae-Sik Moon, and President Jeong-Sook Shin to the sales proceeds of my condo, it will probably exceed 5 billion won. I guess I will deposit 5 billion won in my account with Gangbuk Stock Brokerage Company.
Wait a minute. It’s March already, and I think I should hear from Huanle Shiji Production Company in Shanghai City soon about my investment return for the movie. I will wait until I receive it, and combine it with 5 billion won before making a deposit.’
Gun-Ho made a call to GH Mobile’s President Song.
“I just want to remind you that GH Mobile is distributing 200 billion won to its shareholders as dividends. That amount includes GH Mobile’s net earnings after tax and the sales proceeds of its ownership interest in Dyeon Korea. Make a resolution of our shareholders meeting accordingly, and keep it in the file.”
“Is the distribution day today, sir?”
“Yes, it is.”
“Okay. I will work on it right away, sir.”
Gun-Ho made a call to GH Mobile’s Accounting Director Min-Hwa Kim to let her know as well.
“We are distributing dividends today. We will distribute the sales proceeds of Dyeon Korea, which I’m holding right now. After distributing the dividends, I will send you the transfer receipt.”
“Yes, sir.”
“Do not file the relevant transfer tax and other taxes yet, but just prepare the necessary papers for now.”
“Yes, sir.”
Gun-Ho at first sent 164 billion won to his personal bank account as his dividend from GH Mobile. He then sent 30 billion won to Gongmyeong Party Leader Jin-Woo Lee’s father—Mr. Beom-Sik Lee. And then, he sent 6 billion won to President Song.
Once the dividend distribution was done, he made a call to A Electronics Group’s CEO Park.
“GH Mobile just finished dividend distribution.”
“Oh, really? I have actually been waiting for your call. How much is Mr. Beom-Sik Lee receiving for his dividend?”
“It’s 30 billion won.”
“Wow! Thank you. Thank you so much. I will give you a call later.”
Gun-Ho thought about giving a call to President Song, and then he decided not to.
“I sent him 6 billion won. He had told me that he would keep only 300 million won out of it and return 5.7 billion won to me. I will see if he keeps his words. Oh, shoot. I shouldn’t test my people. I trust President Song. Even though he keeps the full amount of 6 billion won, I won’t blame him. That’s the trust between a master and servant that I’m looking for.”
Gun-Ho printed out the transfer receipts for the dividends. He scanned it and sent it to Accounting Director Min-Hwa Kim via email.
The following day, Gun-Ho was about to send the dividend that he received from GH Mobile to his stock account with Gangnam Stock Brokerage Company when he realized that President Song had already returned 5.7 billion won to him.
“He kept his words, and he precisely kept 300 million won for himself, that was from GH Mobile’s earnings from its business activities, and he returned the remaining 5.7 billion won to me. I shouldn’t have been skeptical about him. He is someone who I do trust. It was my bad that I thought about testing him even for a second.”
Gun-Ho’s bank account was holding the dividends of 3.41 billion won received from Jae-Sik Moon, Min-Hyeok Kim, President Jeong-Sook Shin, and the sales proceeds of 2 billion won by selling his TowerPalace condo, and also the dividend from GH Mobile which was 164 billion won, not to mention the 5.7 billion won that President Song returned to him. In total, he had 175.1 billion won. He moved 170 billion won out of this amount to his stock account with Gangnam Stock Brokerage Company.
‘The previous balance of my account with Gangnam Stock Brokerage Company was 160 billion won. I just transferred an additional 170 billion won to it, so the current balance should be 330 billion won. I have 220 billion won in my account with Gangbuk Stock Brokerage Company, so if I combine them together, I have 550 billion won. That’s the cash that I currently have. I guess that my goal of possessing 1 trillion won wouldn’t be just a dream after all.’
