Story of a Big Player from Gangnam

Gun-Ho was thinking of what he would do if he successfully bought the vacant lot in Gangdong District at an auction.

“Should I build a hotel?”

Even if he successfully acquired the land by an auction, his property interest in the land would be only 50% since the land was held in tenancy in common and there was another owner who had the equal property interest in the land.

Say, he could persuade the other owner to sell his or her interest to Gun-Ho. Gun-Ho would have to pay that owner an additional 600 million or 700 million won to buy his or her property interest.

It would not be just the price of the land Gun-Ho had to bear. If he wanted to do something with the land, he would have to build a building or a hotel, or whatever he wanted to build, and that would cost him additional money.

“How much more should I expect to spend with the land?”

Gun-Ho was drawing his plan with the land on a blank canvas in his head.

“The land is 200 pyung. If I assume the building will use 100 pyung out of it and the price of construction is 5 million won per pyung, then the total construction cost would be 500 million won. If I build a 10-floor building, sh*t! It would cost me 5 billion won. For a 15-floor building, 7.5 billion won would incur. Then how much in total would I spend for the land price and construction cost altogether? I guess it would cost me all of my money.”

Gun-Ho wanted to ask Manager Kang more details on it, such as how many pyung would be allowed to use to build a building and exactly how much it would cost per pyung to build it. Then he decided not to ask him.

“It’s too early to go into the details. Let’s wait and see how things turn out at the second auction.”

The idea of developing the vacant lot still lingered on Gun-Ho.

“Maybe I should put all of my money into this by building a hotel once I purchase the land, and become the president of a hotel. Even though the hotel wouldn’t be located in the center of Seoul but a bit distant from the center, I can decorate the hotel really pretty and elegantly. I would be respected as the owner of a hotel who is running his own hotel.”

Gun-Ho then thought of running an office-tel.

“I could build an office-tel there, a large one and I directly operate it. Assuming the number of rooms would be 150 and a monthly rent for each room would be 600,000 won, the monthly income from the office-tel would be 90 million won then. Maybe building an office-tel is better.”

Gun-Ho couldn’t decide which building he wanted to build and he repeatedly drew and erased a hotel or an office-tel on the land in his head.

Gun-Ho opened a newspaper published by C Media.

There was a big picture of the northeast Asia economic forum held in Intercontinental Hotel, that Professor Wang would attend.

“Economic diagnosis by scholars from all over the world? They are making it sound like a huge deal. Oh, here is the picture of Professor Wang.” Gun-Ho chuckled.

“What? China and South Korea needs to take each other’s hands and move forward as a partner? Well, that sounds nice.” Gun-Ho chuckled again.

Gun-Ho was expecting a call from Professor Wang around tomorrow after he finished the official event.

“Gun-Ho? It’s me! Professor Wang.”

“Oh, I was waiting for your call.”

“Come to the hotel I am staying. I don’t have any schedule after 4 PM tomorrow.”

“Okay. I will be there by 4 tomorrow then. Where do we meet?”

“Why don’t you come up to my room? It’s 12XX.”

“Okay! See you there then.”

Gun-Ho planned to take them to a restaurant in the Starfield COEX Mall for dinner, and then he wanted to go somewhere really nice.

“Should I take them to the room salon that the sister of Suk-Ho’s friend is operating? It’s close from here.”

Gun-Ho shook his head.

“We don’t have to go to a place that expensive. I am happy to see them but that room salon is way too expensive; it’s not like we are meeting to close an important deal or something.”

Gun-Ho then thought of that secret bar in Hannam Town.

“That place is pricey too. I do love the vibe and atmosphere the bar is creating, but Professor Wang and his friend might feel uncomfortable in a too luxurious bar like that.”

Gun-Ho kept thinking about how to find a good place to have fun with them, tomorrow after dinner.

“Whew. I can’t think of any good place. I should have often eaten in good places in my daily life, so I know where to go whenever I have a visitor in town.”

Gun-Ho thought of Suk-Ho from Gyeongridan Street. He probably knew a lot of good places. Gun-Ho called him.

“Suk-Ho? It’s me, Gun-Ho.”

“Oh, President Goo, how come are you calling to a humble person like me?”

Suk-Ho sometimes talked in a twisted way. Gun-Ho was not sure whether Suk-Ho remembered what he did when they were in high school, but Gun-Ho still clearly remembered that Suk-Ho took Gun-Ho’s umbrella. Gun-Ho tried to let it go since it happened a long time ago.

“I have friends who came from China and I want to take them to a nice place after dinner to have fun. Do you happen to know any good bar we could go?”

“Itaewon is the right place for it! There are tons of places like that.”

“So, which one do you recommend?”

“How many people are going?”

“Two. Well, it will be three people including me.”

“What are their occupations?”

“One is a college professor and the other is a deputy mayor.”

“A college professor and a deputy mayor? Then you should choose a place classy and refined.”

“That doesn’t matter actually. They are my friends and we are all at the same age.”

“Really? How did you meet people like that? Well, let me see… There is one good place. Its name is ‘ArariYo.’ It’s a bar where you can see a traditional Korean musical and dance performance while you drink.”

“Oh, they do traditional Korean drum dance too? That sounds awesome. Give me the direction to that bar.”

A lady entered Gun-Ho’s office.

“Umm, is Ms. Ji-Young Jeong here?”

“Yes, that’s me.”

Ji-Young stood up and showed the lady to the meeting table.

Gun-Ho looked at the lady carefully; it was her, his sister’s friend, Seung-Hee Park. Gun-Ho stood up from his seat.

“Are you Seung-Hee sister?”

“Oh my gosh! Gun-Ho?!”

The lady seemed to be surprised to see Gun-Ho. Gun-Ho was also surprised because she had changed a lot. She used to be a very neat and proud young lady. Now she looked shabby and old. Also, Gun-Ho remembered that she was tall but the lady in front of him right now seemed to be short.

“Long time no see. Have a seat.”

“I barely recognize you, Gun-Ho. You have grown to be a dashing gentleman. I wouldn’t have recognized you if I just passed by you on the street.”

Ji-Young brought them green tea.

“Where do you live, Seung-Hee sister?”

“I am still living in Bucheon. Your office looks clean and cozy.”

Seung-Hee looked around the office while sipping her green tea.

“My sister told me that you are selling insurance.”

“Yeah, I happened to work in this field. It’s sort of a rewarding job.”

“Our company is operating three OneRoomTels right now and I’d like to buy fire insurance for those three. You can talk with Ms. Ji-Young Jeong, regarding more details about it because I have to leave now. I have an appointment with clients from China.”

Ji-Young nodded her head at Seung-Hee.

“Oh, you are leaving? Sure, I will talk with this lady then. It was really nice seeing you again Gun-Ho. You looked more handsome than you were when you were little.”

Seung-Hee looked at Gun-Ho as if she admired him.

In fact, Gun-Ho became neat and dashing lately.

He had been wearing only brand-name shirts and suits, and even for t-shirts and shoes. Clothes make the man. Moreover, Gun-Ho had regularly been receiving skin care from a skin care shop. He certainly looked better. His complexion had been brightened and he looked like someone who had never experienced hard work in his life because he was born to a rich family. No one could imagine that he had once been a factory worker—doing manual labor job in a small factory.