Chapter 254 (1/2)
Chair
”The hard money lenders at that time suffered a bitter blohen the banks took the pro to co business and ujeong Town, Gangna in condos The condos in Gangnah price, but I was certain that people would be willing to pay even more for those condos I was sure about it because I knew that people preferred the convenient location of Gangnam, and they also had a desire to show off that they were living in a nice conam area”
”You must have made a fortune from that investment”
”I did But then the IMF happened”
”Gosh, you must have lost a lot then”
”No, actually I didn't”
Chaired his head
”I was actually so excited because it could be a huge opportunity tothe IMF crisis?”
”Right before the IMF crisis, the officials in the Ministry of Econo financial crisis in this country They, however, denied their awareness by stating that our econo I had been in theto believe them and I had the opposite view By that time, I had already liquidatedTown along with all of the pro I believed the only way I could survive was by securing cash”
”I see”
”Once the Korean econo owners who couldn't handle the interest rate hikes started putting their buildings on the nificant debts went bankrupt At that tida-Suk were listening intently to Chair next to hi is worth today”
”Um, I don't know Maybe 30 billion won? 40 billion won?”
”It is noorth 200 billion won”
”200 billion won!” Gun-Ho gasped in astonish was substantial One day, a branch er of a bank came to me and offered a loan of 100 billion won since I didn't have any debt He then askedthat the bank had seized for a defaulted loan; the bank was about to put that building up for sale I took a 60 billion won of loan out of the 100 billion won loan they initially suggested and took over a paper production co 20 billion won, I bought the s”
”I see”
”The reason why I acquired the paper production co developed in Korea at that tiht the delivery business wouldboxes which are ated cardboard Additionally,in the US and I wanted to give him a company he could run I already paid off the loan of 60 billion won That paper production corew and now its asset exceeds 100 billion won, and the s is worth about 70 billion won now”
Gun-Ho, Jong-Suk and Manager Gweon had gasped in astonishment and admiration
”Now, I have no desire to alike this Proood way to make money these days As banks took over the proovern the profits fro so many taxes by the name of a transfer tax and an excess profits tax A person born to a poor faht find it impossible to move up the economic ladder because the economic ladder became way steeper than it used to be It could solidify the economic inequality in our society”
”Whew”
The three people let a deep sigh simultaneously as they listened to Chair you all these stories today? I usually don't talkyou these stories because Mr Gun-Ho Goo is going to China”
”Huh? I haven't decided anything yet I' there just to see how it is”
”I a a business, but I've heard that a lot of Korean companies expanded their business to China and failed Moreover, many Korean business people becah”
”Huh? What is it?”
”The real estate”
”Real estate?”
”What is China's econoht? It's 30 for three years The real estate rowth are closely related If a housing boorowth, the real estate prices will rise significantly”
”Then the real estate price in China will keep increasing, right?”