Chapter 36
Chapter 36
We want to invest in startups.
However, if you suddenly contact OTK Company that you are willing to invest, you will suspect that it is a joke or a scam.
Therefore, it is necessary to intermediate with a credible institution.
If Golden Gate intervenes, startup managers will also trust and meet. Each country has different laws regarding investment, so that should be taken into account.
It is natural to incur fees as it is entrusted with work.
How much do you want the commission to be?
Hyun-joo’s older sister first sent an e-mail to the companies I selected saying they are willing to invest. And he negotiated against Golden Gate.
In the meantime, I made a detailed investment strategy.
You can leave it all up to you, but I plan to experience firsthand what investing is like this time.
“How do I meet foreign startups?”
“I should call you to Korea.”
It’s not because we couldn’t invest, so it’s not that we’re anxious, so it’s the logic of the world that the unfortunate will come.
What takes more than that is Korean startups.
With the L6 discontinuation incident, we drew the attention of global financial companies. In Korea, where the incident occurred, the Financial Supervisory Service launched an investigation, but it was stopped because it could not obtain information.
If OTK Company starts investment activities in the Korean market, the FSS will not stand still.
“If there’s nothing wrong with it, isn’t it okay?”
“It is, but…”
The problem is that our identity is highly likely to be revealed during the investigation process.
If the facts are known, the media and public opinion will not stand still. Our names will appear in newspapers and news, and our yearbooks and past records will be floating around on the Internet.
Again, if you make money on a short position, you will be cursed regardless of whether you are right or wrong. Moreover, we will be even more severely reviled because we have incorporated our corporation in a tax haven.
Celebrities and interested people might enjoy such a situation, but we are not. Both of them are quite satisfied with their life now.
And······.
I remembered her mother.
Even if only the fact of winning the lottery prize is known, calls come from everywhere, and strangers wander around her house. Can her mother really live comfortably in her old house?
She likes to hide it as much as she can until she can hide it.
Taek-gyu heard my story and nodded his head.
“If that happens, it will be difficult to get out of the house comfortably. Or, take the bodyguards with you.”
I sighed.
“It’s terrifying just thinking about it.”
“Are you going to give up investing in Korean startups?”
“no.”
What’s wrong with startups that don’t receive investment? What is our fault for not investing?
“It has to be done by OTK Company directly.”
I thought of another way.
I grabbed my cell phone and made a call. Before even a few beeps, the other person answered the call.
“How have you been?”
[I was waiting for you to contact me.]“Please find an office in Gangnam. The number of pyeong is between 100 pyeong and 200 pyeong.”
When I asked why, I was going to say that I would tell you next time, but the other person did not ask or question.
[I’ll find out right away.]“Yes. If you find a suitable place, you can even sign a temporary contract. I will deposit the down payment right here.”
[Okay.]* * *
An investment brokerage contract with Golden Gate was made.
The person in charge was, of course, Hyun Joo’s older sister. My sister’s team members will help us with our work.
The commission is 1.8% of the total investment amount, and the minimum commission is 3 million dollars.
If you invest $100 million, you’ll pay $1.8 million, and if you invest $500 million, you’ll pay $9 million in commission. And even if you don’t invest a single penny, the condition is that you pay $3 million unconditionally.
When Taek-gyu heard the story, he was startled.
“What’s so expensive about connecting you with your daughter?”
“At least it’s a friend’s discount.”
If it wasn’t for Hyunjoo noona, I would have had to pay twice that price.
I said I was willing to pay enough, but the thought of paying it off hurts my stomach. Millions of dollars aren’t even his name.
If this is the case, you must work hard enough that the fee is not wasted.
We got into the car and headed to Apgujeong. We arrived at a high-end Chinese restaurant.
“what? Why are you at a Chinese restaurant again?”
Please stop eating jjajangmyeon.
Taehyung shook his head.
“It was booked by my sister, not me.”
“·················ogue.”
Then there’s nothing you can do
Before the full-fledged work began, Hyun-joo’s older sister came to Korea first. The rest will come as soon as the preparations for this side are finished.
We went into the reserved room. Hyun-joo’s sister had already arrived inside.
“You came first.”
“As soon as I got off, I took a taxi, and the road wasn’t very busy.”
He looked tired because of the flight. Still, she is intelligent and beautiful.
“Let’s start with dinner.”
Hyun-joo’s older sister called the waiter and ordered a dish.
“Did you come here often?”
“The head office is in Harbor City, so I go there often. This is the second time.”
The food was placed one after the other on a glass disc on the table. You turn the plate and bring the food you want to you and eat it.
The chef then appeared with steaming Peking Duck and sliced it in front of him.
okay. This is real Chinese food.
Come to think of it, it’s been a while since I ate outside. During this time, I stayed in the house and ate only delivery food.
I ate dinner and talked with Hyunjoo noona about future plans and investment strategies.
“So when is he coming?”
“It will come soon.”
I called on purpose about an hour late.
After a while, a large man in a suit entered the room. He was a senior senior.
“Welcome, senpai.”
I said looking at Hyunjoo’s older sister.
“This is the Park Sang-yeop we just talked about.”
Sangyeop senior asked me.
“Who is this?”
“I’m Hyunjoo Oh. Taek-gyu’s older sister.”
“Ah! Are you going to the Golden Gate we talked about before?”
I added an extra explanation.
“You are from the Department of Economics, Korea University. You are a senior in the 10th grade than me.”
Sangyeop-senpai was not happy with my words. Then he lowered his head and said in a loud voice.
“Nice to meet you, senpai. This is Park Sang-yeop from the Department of Mathematics. Take good care of me.”
A tall, short-haired person is like a gangster greeting the boss. Hyeon-joo noona held out her hand without panicking.
“Nice to meet you. This is Oh Hyun-joo.”
Senior Sangyeop politely took his hand.
“You can speak comfortably. You are a senior like the sky.”
Hyunjoo’s older sister smiled.
“I will take it easy.”
We took our seats.
“What did you say you wanted to see?”
“Eat first. I will speak slowly.”
“Okay.”
Senior Sangyeop did not hesitate and ate his meal well.
When the meal was finished for a while, I got up from my seat and brought out the main topic.
“We will establish an investment company in Korea as a subsidiary of OTK Company. OTK Company will invest 100%, and the capital is 70 billion won.”
Taek-gyu and Hyeon-joo, who had already known each other, nodded, but Sang-yeop, who heard the story, opened his mouth wide.
100 billion units sounds ridiculous because there has been a lot of money recently, but 70 billion is enough capital to set up a small and medium-sized securities company.
I said looking at Sangyeop senior.
“I’m thinking of entrusting the company to a senior,”
Sangyeop-senpai was startled by the sudden words.
“Me, me?”
“My annual salary is 100 million won.”
It is a large amount for a starting salary in the financial sector, but this is not what matters.
“According to business performance, I will give you a stake in the subsidiary. 2% per year, up to 10% over 5 years.”
“Ugh!”
It’s a kind of stock option concept, but this is a radical proposition.
Even if the company’s assets do not increase and remain the same, they will receive 1.4 billion won a year, and 7 billion won after 5 years. As I expected, by then, assets would have increased at least 10 times.
“There is nothing I like too much. If you don’t perform well, you’ll be fired immediately. Even if I don’t finish it for a year, I will give you the promised salary.”
Sangyeop had a confused expression on his face.
“What on earth do you believe in entrusting me with a 70 billion-dollar subsidiary?”
Under these conditions, it is possible to recruit highly experienced and outstanding professional financiers. Nevertheless, there are good reasons for making such a proposal to a senior at school.
“Let’s say we believe in determination and responsibility.”
Sangyeop senior never missed the investment opportunity that was right in front of her. In the past, when I made 5 million won to 50 million won by investing in MK Tech, as soon as I heard the information about the L6, I bought the Seoseong SB put option with money in my hand, and came to me right away.
And when people fall to the bottom, their true nature is revealed.
Sangyeop senior did not even touch the club membership fee even when he lost all his fortune with the CL Chem call option and went into debt. And without giving up or getting frustrated, I worked on the floor for several years and paid off all my debts.
You can find talented people, but it’s hard to find someone you can trust.
I need an organization that can move like limbs according to my foresight. No one is more suitable than Sang-yeop senior to take charge of such an organization and raise it.
“Do you want to? If you are not sure, talk now.”
You probably know. It is a great opportunity that will not come again in life.
Senior Sangyeop nodded her head with a firm expression.
“I’ll give it a try.”(Read more @ wuxiax.com)
“I thought about it. Now I have become a real family member.”
clap clap!
When Taek-gyu first touched his palms, me and Hyun-joo’s older sister also applauded.
Senior Sangyeop bowed her head with an awkward expression.
“Thank you. We will do our best for OTK Company.”
Taek-gyu asked.
“By the way, what is the name of the subsidiary?”
“To call it K Company after OTK.”
Hyunjoo’s older sister said something.
“Isn’t it too rough?”
“·················ogue.”
It was too cumbersome to think deeply about the name of the company.
I told the plan again for Sangyeop, who joined late.
“OTK Company will start investing at home and abroad from now on. It’s our job to meet startups that need money, invest money, and buy shares.”
* * *
The establishment of the subsidiary proceeded in an instant.
The complicated administrative procedures were entrusted to the foreign law firm by Hyun Joo’s older sister. K Company was established in Korea, and OTK Company invested 70 billion won.
We also signed a lease agreement on the 5th floor of a building on the back road of Teheran-ro. It was a 5-minute drive or 20-minute walk from Taek-gyu’s house.
OTK Company will be in charge of investment in foreign startups and K Company will be in charge of investment in Korean startups.
I handed the USB to Sangyeop senior.
“This is a list of startups that K Company should invest in. We’ve contacted you in advance, so we’ll have a meeting soon. The necessary manpower will come from Golden Gate, so discuss the scope of the stake purchase and legal issues with them to decide.”
There are two main types of corporate investment.
One is to lend money and the other is to buy shares. The former purchases bonds and becomes a creditor, while the latter purchases stocks and becomes a shareholder.
Startups that need money want to attract investment even if they reduce their stake. However, if a company fails to grow or goes bankrupt, the value of its shares becomes a piece of paper anyway.
On the other hand, loans can preferentially collect principal and interest. Of course, if the company goes bankrupt, you can’t get it back. (That’s why there are cases where a joint guarantee is established with the management.)
“Are you planning to participate in management?”
“no.”
When you buy a share, you have voting rights equal to the percentage of your share. Because of this, it often happens that the company is taken away by investors after receiving the wrong investment.
This is the part that startup managers are most worried about when they receive investment.
“I will invest, but I will never be involved in management.”
They do not have the ability to manage a field that they do not know at all.
Let the managers manage it on their own, and it is enough for us to eat only the fruits of growth.
“Then, have a good time at work.”
After the brief meeting, Taek-gyu and I got into the car.
He booked a meeting room at a five-star hotel in Yeongjongdo for an investment meeting.
Now is the real start.
