Story of a Big Player from Gangnam

“We are in the auto parts manufacturing industry. Is it one of the items we can trade with North Korea?”

“If it is an auto part of Chinese vehicles, then yes. But it’s for a part for Korean cars, then no. Currently, there is no Korean car in North Korea.”

“Hmmm... What sorts of business items will be good then?”

“Construction materials are good. The last stage materials, I think you call them interior materials in Korea, right? North Korea is short of these materials. Their demands are high. I made good money last year by selling the interior materials to North Korea. I have a condo in Pyongyang and two housemaids are working for me.”

“Hmmm, construction materials... What about construction heavy equipment?”

The Samchully Company’s president waved his hand showing his strong opposition to the idea while having his fish dish.

“North Korea is now suffering a severe gas shortage. So, they wouldn’t be able to use equipment anyway, even though they have one.”

“Hmm.”

“Retired tires are okay since oils can be derived from old tires.”

“What about minerals? Like coal, iron, etc?”

“Minerals are good. Farm produces or fish products are good too. One thing you need to note is that these products should be exported from Nampo Port in North Korea. If you move those products to Dandong before exporting them to South Korea, then those products would become produces of China, not produces of North Korea.”

“I see. So, we can get a certificate of origin with North Korea’s name as long as the products leave from Nampo Port before reaching South Korea.”

“That’s right. Once you bring them to Dandong, you can’t have your certificate of origin issued.”

Gun-Ho felt full after having a beer with several dishes.

“Thank you for today. I’ve learned a lot.”

“If you decide to work together, just let me know. I am highly knowledgeable about the trade with North Korea, and I know every path from Sinuiju City to Pyongyang. Also, I have a broad connection with a lot of important people in Pyongyang.”

“Thank you again for staying with us until late at night.”

Gun-Ho gave them the nail clipper sets he brought from Seoul, as a gift.

He was in a taxi heading to the hotel when he received a call from Seukang Li.

“I was wondering if you safely arrived in Korea.”

“Oh, I haven’t left for Korea yet. I’m in Dandong City right now.”

“Dandong?”

“Yes. The deputy director of Dandong Border Economic Corporation Zone invited me to visit their development zone. So, I am on the way to the hotel after visiting him.”

“Dandong Border Economic Corporation Zone is a national industrial complex.”

“They are saying that if I open a business there, they will give me lots of benefits like taxes.”

“Their prices for the land and labor are very reasonable; however, I’m not sure if it is the right location for an auto parts business. Auto manufacturers are all located on the east coast.”

“You’re right. That’s why I gathered some information about a trade business with North Korea.”

“A trade business?”

“That doesn’t sound so promising, does it?”

“Well, I am not a businessman, but a government worker, so I don’t know much about business. However, it reminded me of what the economics professor—Jien Wang said the other day.”

“What did he say?”

“He said, if you want to make money, you’d better start your business in an area where money and people are driven to.”

“The area where money and people are driven to... That sounds right.”

Gun-Ho then thought that the Dandong area was not that kind of area.

‘For now, I will have to do my business in the area where a lot of people and money are staying. I’m okay with setting my mind that I came all the way to Dandong City for a pleasure trip.’

The following day, Gun-Ho came back to Korea via Shenyang City from Dandong City, and Min-Hyeok took a direct flight from Dandong City to Shanghai.

When he arrived at Incheon International Airport, Gun-Ho made a call to President Jeong-Sook Shin of GH Media.

“President Shin, I just came back from China. I’m at the Incheon International Airport.”

“Oh, really?”

“I asked Director Kang to get a price quote for the interior renovation of the basement space in GH Building in Sinsa Town.”

“Oh, someone is moving in there? It’s already rented out?”

“No. I’m thinking of opening an art gallery there as you suggested the other day.”

“That’s great.”

“I’m planning to redo the entire interior. But since this is an art gallery, I believe the lighting is very important. I’d like to have your professional opinion on it.”

“Where do we meet? I can come right now.”

“If you are not busy, please come to GH Building in Sinsa Town. I think I can get there within two hours.”

“Okay. I’m on my way.”

Gun-Ho arrived at his office of GH Development in Sinsa Town.

“How are you? Is everything good here?”

“Yes, sir. Here is a price quote for the basement interior renovation. We usually get several price quotes from multiple remodeling companies, but for now, I got one from one company. So you can get a rough idea about how much it would cost to remodel that space.”

“President Shin from GH Media will be here soon. She used to work in an art gallery before. I think she can give us some professional opinion and advice.”

“Oh, really? She used to work at an art gallery. No wonder why she looked so sophisticated. By the way, sir, you look so tired today.”

“I actually came here straight from the airport after visiting Dandong and Shengyang City in China. I guess I drank too much Chinese liquor.”

The secretary—Ms. Yeon-Soo Oh brought a cup of hot green tea to Gun-Ho. After having the tea, Gun-Ho felt better.

While looking at the price quote that Director Kang brought to him, Gun-Ho commented,

“It’s quite pricey.”

“That’s right. Because the place was used for a sauna business, there are lots of demolition works to do, according to the contractors.”

While having a conversation with Director Kang, President Shin came into the office.

“Sir, you must feel very tired. You just came back from China. We could have met maybe tomorrow after you take your rest.”

Secretary Yeon-Soo Oh brought another cup of green tea for President Shin and placed it on the table next to her.

“Is this lady Ms. Yeon-Soo Oh?”

“Yes, ma’am.”

Yeon-Soo responded since she was standing there,

“I’m GH Media’s President Shin. We spoke on the phone several times for the letters that I had to send to Amazon.com. You translated the letters into English for me. It’s really nice to finally meet you in person.”

“Nice to meet you, too, ma’am.”

“You are not just fluent in English, but you are so pretty.”

“Thank you.”

“You have a nice boss, right? President Goo is a decent person.”

“Yes, ma’am.”

Yeon-Soo Oh smiled and left the office after giving her a deep bow.

I went to the Chinese avant-garde art exhibition in Shanghai.”

“Oh, you did? I really wanted to go there.”

“I also talked with Director Seukang Li.”

“What did the two of you talked about?”

“He suggested me to host an art exhibition in Korea, on the Chinese avant-garde art with the name of GH Media.”

“What? Avant-garde art exhibition here?”

President Shin’s eyes widened in surprise and looked at Gun-Ho.