The Famous Millionaire

박승연

Chapter 275 - Chapter 269

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Chapter 275: Chapter 269

Hyunwoo and Duyoung began to launch the start-up STM in earnest.

Duyoung gathered a group of experts to build a factory and facilities, while Hyunwoo reviewed the factory site.

Though it was not the first time he launched his business, Hyunwoo was thrilled when he got down to selecting the factory site.

It was because he felt that this was ‘his own business.’

Up to now, Hyunwoo did business that helped other people. That was the case of his first start-up N&C Korea, followed by Ani & Funny and KOVE DREAM. They were not Hyunwoo’s original business items.

But STM was different. It was his own business based on Duyoung’s development of green oil technology. Of course, he had to recognize the credit of Mingyu Kang who gave an idea of microorganisms, or Jamin Yu who helped Duyoung make a breakthrough in his research by dropping a battery in a gasoline bucket.

As for the factory site, Hyunwoo had an eye on one already. Seven months ago, when Duyoung began to gain momentum in his research, Hyunwoo started to review the feasibility of a place near several industrial complexes across the country.

And he selected three places as the finalist. One of them was Yochon where there was a petrochemical complex, the other one was Seoul and Incheon, and the last one was Sosan.

Hyunwoo felt more attracted to Sosan out of them.

The port of Daesan in Sosan was emerging as the mecca of the petrochemical complex. In particular, the local autonomous entities and politicians were actively involved in inviting enterprises to Sosan.

Hyunwoo liked Assemblyman Chulwoo Chung and the mayor of Sosan. He met them often while building Haenim School in Tapgokri, Sosan City and found their political conviction was very clear.

Besides, they had no private greed at all. Hyunwoo never found such clean politicians before.

Hyunwoo felt lots of things while doing business so far.

The most important was the propitiousness of the times.

And another important factor was human resources.

Of course, the factory site or the surrounding environment was important, but much less important when compared with the luck of the times or human resources.

Hyunwoo called congressman Chulwoo first.

“Hi, Congressman Mr. Chung. This is Hyunwoo Jang.”

“How are you, Mr. Jang? I never expected you called me first like this. By the way, don’t call me a congressman. You promised not to call me that formal title, didn’t you?”

“Hahaha, got it, brother.”

“By the way, what’s up? You must not have called me without any business.”

“Well, I would like to launch a start-up enterprise, and if I can, I would like to build a factory in your constituency. I would like to discuss it with you. Can you take the time out one of these days?”

“Oh, I’m now in Sosan. Let’s have a dinner together with the mayor of Sosan this evening.”

Hyunwoo happened to have no dinner appointment.

“Got it. I’ll see you in front of Sosan City Hall by 7 pm.”

After the call, he headed for the KOVE DREAM office.

There was nothing special that he needed to pay attention to. He stopped by the office of N&C Korea, KOVE DREAM and Ani & Funny three or four times per week for business briefing.

KOVE DREAM was operating on a very stable basis.

Of course, the word ‘stable’ didn’t necessarily mean the positive side. In other words, that meant there was no change. In fact, KOVE DREAM stopped growing.

It was not the problem of KOVE DREAM alone. It was caused by several large companies that created something like KOVE DREAM.

Of course, KOVE DREAM was superior to its rivals in terms of the consumers’ perception of its products and reputation.

But rival companies competitively attacked KOVE DREAM with lower commission fees and technical support to attract aspiring companies as their members.

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As time went by, the number of companies wishing to join KOVE DREAM dwindled, while those defecting to its rivals began to increase.

But Hyunwoo was not worried. Actually, he didn’t need to worry.

Besides, KOVE DREAM had no chance of going bankrupt because there were many successful companies such as DF Technology in Vietnam and Sungsin Company in China, where Hyunwoo made a direct investment.

Already 21 companies that developed their own technology joined KOVE DREAM, and half of them already repaid all their initial investments and generated profits.

This was something very encouraging. Most of these companies received huge investments from Hyunwoo to the point that they transferred 70% of the company to him. Thanks to this, they bought back Hyunwoo’s stake, and as a result Hyunwoo only kept a 30% stake.

When Hyunoo invested in these companies, they were in financial difficulty or on the verge of bankruptcy, with their stocks plummeting.

But the situation was different when they bought back the shares from Hyunwoo. When they succeeded in developing new technology, they began to grow every day, which led to the soaring of their stocks.

Some of the companies saw their stock prices rising fivefold, and some saw a thirtyfold increase.

In other words, if Hyunwoo invested one billion won, he retrieved more than 10 billion won.

There were lots of companies that made a success like this. Hyunwoo invested in over 70 companies so far, and he is still searching for the high-potential companies that needed his investment.

It was not just the case of foreign companies in Vietnam and other countries.

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For example, the domestic Korean company Nanotech received over 20 billion won from Hyunwoo.

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