The Famous Millionaire

As a matter of fact, Hyunwoo was a layman at investing. Though he had a lot of experience in working on-site, he had no knowledge of anything like stocks, stake, etc.

But he had some working knowledge of negotiating while he worked as a salesman for a variety of companies. On an occasion like this, the best policy was to make use of the party’s knowledge.

“I don’t know much about N&C. In your mind, how much stake would be appropriate for me?”

Na seemed to agonize over it for a moment.

“Hummmm… As things stand now, the total market value of my company is about 58 billion dong, equivalent to about 2.9 billion Korean won. If you invest 200 million won, that would be about 7% of the total market value. Given your investment at this difficult time, however, let me make a big concession.”

Hyunwoo thought about 8%, but Na’s concession was much more than Hyunwoo thought.

“Let me give you 9%.”

Hyunwoo was startled at this moment. This meant that the financial situation of N&C was very much in crisis. A concession of 2% more to Hyunwoo took into account the potential risk.

With a big smile, Hyunwoo held out his hand, and Na grabbed it waved it forcefully.

Then, Na had a call from the president of the other part factory Yonggu was visiting.

“Hey, Mr. Kim, what’s up at this late hour?”

Hearing their conversation, Hyunwoo found out that Mr. Kim was whining about the unit price. Because of that issue, many of the local presidents went to the hotel Yonggu had checked in at, but he would not see them.

Na looked at Hyunwoo and asked, “What should we do?”

Hyunwoo touched his jaw as if he had a headache. In his heart, however, Hyunwoo yelled with delight.

The timing Hyunwoo had in mind came more quickly than he had thought.

After pretending to hesitate for some time, Hyunwoo bit his lip and nodded his head as if he had made a grave decision.

“Let me meet with the presidents then.”

3. The real winner

The following day.

“Did you have a good sleep?” Yonggu asked to Hyunwoo in a cheerful mood. Hyunwoo also exchanged morning greetings with him pleasantly.

After breakfast, Yonggu left the hotel in a leisurely manner. It looked like he thought that he would have a better and better position while negotiating the more he dragged his feet.

They went into the first factory, which Yonggu left yesterday after offering 65% of the Taiwanese part as the unit price.

He sat face to face with Na with the table between them. The president apparently didn’t sleep at all last night. Yonggu was ever more confident and said,

“So, did you give it a thought? If you can agree on 65%, I can contact the head office in Korea and get you a contract right away.”

The president let out a sigh and opened his mouth feebly, saying, “Let’s forget the whole thing.”

At that moment, Yonggu’s face became rigid. It looked as if he had never expected the president to come up with such a reply.

“What did you say?”

“Even if I see a golden opportunity like this, I can’t make the products at a loss. I can take some meager losses, but even if I accept your offer of 85%, I wouldn’t make that much profit. Despite that, you’re asking for 65%. Let me just give up.”

“Oh, this is…” Yonggu was trying to say something, but the president was resolute.

“Enough is enough. Actually, I was disappointed of Aurum. If you mentioned 85%, you should proceed with it. How could you suddenly threaten me to lower the unit price?”

“Oh, this is not a threat. This is business!”

“No further. Even without Aurum, my factory will not go bankrupt. If you treat me like this, I don’t want to sign a contract even if you raise the unit price. Just go back.”

Yonggu was wearing a puzzled look. He felt as if his strong negotiating position had been turned upside down. On the other hand, the president seemed confident after he broke up the deal.

Even though Yonggu was not done yet, he already stood up.

“I don’t have anything to say. Let’s break up at this point.”

“Oh, don’t, please…”

Even though Yonggu wanted to continue, he wouldn’t listen.

It was the same case with the presidents of other factories. They notified Yonggu of the contract cancellation without any exceptions. They regarded Yonggu’s price discount suggestion as breaking the contract.

Back at the hotel, Yonggu wore a dumbfounded look.

Did these guys decide to collectively go bust?

Actually, he was ready to concede slowly. In doing so, he judged that he could pull off a deal that they could agree with at 70%. Suddenly, the atmosphere was upside down.

He felt put on the spot. From now on, it was not a matter of the unit price. The presidents said they would not accept it even if he would raise the unit price. That meant he might lose what he had already secured. The presidents were in a similar situation. In the evening, they gathered and comforted each other.

“Is it really okay if we treat Yonggu like this? We just followed Hyunwoo’s instructions, but if the contracts go away…”

“Let’s wait. Didn’t Hyunwoo say he would take responsibility?”

Back at the hotel, Yonggu thought about it very carefully.

No matter how he tried to find the reason, he could not. There was no reason that the presidents would give up the contracts so easily. Suddenly, something came to mind.

Yonggu raised his lips slightly, thinking to himself,

Hummmmm…you guys want to fight with me to see who is going to chicken out? Do you think I can falter if you push me like that? If you think so, you guys might regard me as an easy target.

The next day, Yonggu was dragging his feet again. It was almost noon when he visited the factory, and he said to the president as if this would be the last meeting,

“Let me talk to the headquarters to adjust the unit price up to 70%, but there will be no more negotiation on this. Will you sign the contract?” Yonggu asked in a confident manner.

However, the president’s reply was the same.

“No thanks. Even if you adjust the price to that of Taiwanese parts, we don’t intend on doing business with Aurum. Just go back.”

Yonggu felt numb with fear that all of the contracts would fail.

But he believed in himself, thinking, Sure, the man who holds out longer prevails.

Yonggu sprang up suddenly.

“That’s regrettable. Let’s forget the whole thing then.”

Yonggu stridently walked out of the door, stealing a glance at the president.

At that moment, Yonggu had a sudden sinking feeling in the pit of his stomach.

The president was closing his eyes firmly.

It’s alright. He’s just being patient. I shouldn’t be blinded by that, Yonggu said to himself.

As if he had forgotten any lingering affection for Aurum, the president didn’t even see him off.

Yonggu was treated the same at the other factories. He felt his heart shrinking. Now, he was in a desperate situation where he had to implore the presidents.

However, he still held out.

I still have three more days to conclude the contracts.

Yonggu didn’t visit the factories the next day. Rather, he went around Ho Chi Min City for a tour. He looked as if he didn’t care about the contract this time. However, he was nervous in his heart.

Maybe tomorrow? I should pull off this contract by all means.

Yonggu tried to calm down his troubled mind, but the presidents would not move as he wanted.

“Why do you keep calling me?”

“Wasn’t the contract between us over? I don’t intend on dealing with Aurum, so never call me again.”

“Let me come and see you,” Yonggu said.

“No way. Even if you come, I’m not here, so don’t waste your time.”

Now, it was a complete separation between them. There was no room for negotiation.

Yonggu felt as if the sky would fall down.

The team manager and the president was expecting to save more than 100 million won in cost reduction. In particular, as Yonggu, the core member of the purchasing team, joined Hyunwoo, they expected a lot more.

However, Yonggu had ruined the whole deal.

“What should I do? What should I do now?”

Yonggu tore his hair out, not caring at all that Hyunwoo was looking at him.

Hyunwoo approached Yonggu and said,

“Don’t worry too much. I think there are similar parts factories in Indonesia and the Philippines. Let’s check them out.”

“What are you talking about?” Yonggu shouted, staring at him.

What was important to Yonggu was the Vietnam deal. Even if he changed the contractors to some others in other countries, the fact was that he had ruined the Vietnam deal by failing to negotiate properly.

Tearing his hair out again, Yonggu blamed himself.

At that moment, Hyunwoo suggested slightly, “Can I try to persuade them again?”

At that moment, Yonggu’s eyes opened wide. Actually, it was Hyunwoo who had pulled off the Vietnam deal initially. Though Yonggu met them for business, Hyunwoo maintained personal ties with them. It might be possible that they would change their minds if Hyunwoo persuaded them well.

“Can you?”

“In my opinion, president Na Sungji seems to have a very close relationship with the other presidents. As you know, I really tried a lot for Na. And because Mr. Kwon is with him, he would not turn a blind eye to my request.”

With his eyes opening wider, Yonggu’s glittering eyes were sparkling with expectations.

“Sure, I think you can. What can I do for you?”

Yonggu was ready to fully support Hyunwoo now, but what he wanted was simple.

“I don’t think I need your help at the moment. Let me go and meet them alone.

Mr. Na seems to be very much disappointed in you. I think I had better go alone to see him.”

“By the way, what percent should I present to them for the unit price? Even though we went for 70%, they would not accept it. If you still insist on the same unit price, I think I can’t succeed.”

“It doesn’t matter. As long as we can keep 85% of the Taiwanese parts, just sign the contract without any conditions.”

Hyunwoo tried hard to keep a straight face at Yonggu’s remarks.

“Okay. Let me go and meet them.”

After he left Yonggu’s sight, he started to laugh heartily.

“Huuuhhh…Done deal!”

Hyunwoon headed straight to Na’s factory, who, informed by Hyunwoo in advance, welcomed him at the entrance.

“Oh, Hyunwoo, I am just so nervous. What happened? Did you take care of the matter well?”

Without saying anything, Hyunwoo opened his palms and made a circle by touching his thumb and index fingers.

“I told you that you didn’t have to worry.”

“Oh, thanks so much.”

Na lowered his head to Hyunwoo.

As a matter of fact, N&C was not included on the contractors list because the quality of its wheel part had failed the standard test. Despite that, there was a reason Na was so happy. It was because he knew that he would sign a contract with Aurum soon.

Actually, that was the second goal that Hyunwoo had planned before coming to Vietnam. That was as important as making Yonggu kneel down to him.

Because he was faced with a new situation, however, he added one more goal. As he became a proud shareholder of N&C, he would have to make sure the company generated the biggest profits. Of course, Na was not aware of Hyunwoo’s plan.

Hyunwoo said cheerfully as if he was giving Na a gift,

“I think we have to cut the unit price of the parts produced by other factories. But we will adjust the unit price of your products to 90% of the Taiwanese parts as we originally agreed.”