Investor That Can See The Future

Chapter 136

Hoseong Savings Bank Gogye-dong 2 Branch.

Before starting the business, branch manager Park Jun-sang gathered his employees and made a morning inquiry.

“As everyone knows, each branch sells bonds now, but our branch’s sales are far behind compared to other branches. What if the sales performance of our branch, which has a long history and tradition, lags behind that of the new branch established last year? Keep in mind that poor sales performance has a negative impact on HR performance. You have to sell a lot to get a bonus, and our branch is also selected as an excellent branch, so that promotion can be done quickly… … .”

Once the story started, it never ended. The faces of the employees gradually darkened at the constant nagging.

Branch manager Park Jun-sang, who gave a Japanese speech, pointed out an employee.

“Come in front of Mi-young Kim.”

A female employee in her mid-20s stepped forward.

“Here’s Mi-young Kim, who achieved first place last month! Come on, clap!”

clap clap!

Her staff applauded in unison, and she bowed her head in embarrassment.

This time she called another employee.

“Mr. Ha Eun-ji.”

“Yes.”

A female employee wearing glasses in her mid-30s raised her head.

“Mr. Eunji Ha has the lowest sales performance. What the hell is she doing at the counter? Stop using your cell phone during business hours and think about how you can sell good products to customers. Do you know that the bank pays you a salary to ask Eunji Ha to SNS?”

Her face turned red at the point of the branch manager.

Ha Eun-ji said as if making an excuse.

“I keep recommending it, but everyone says they don’t know much about bonds and have no interest in them.”

Branch manager Park Jun-sang said, as if frustrated

“So, don’t useless explanations about what bonds are and what subordinated ones are for nothing, but promote them in the way that there are good products that give a lot of interest rates. The interest rate is a whopping 5.6%! In this day and age, there is no other product that offers interest rates like this!”

‘That’s because it’s not a deposit, it’s a subordinated bond.’

Ha Eun-ji held back what she wanted to say.

“You know that some banks are closing branches and taking voluntary retirements,” she said. There is no law that says we shouldn’t be like that, so everyone, please come to your senses.”

The faces of the employees darkened even more.

However, branch manager Park Jun-sang raised his hand without hesitation.

“Now then, let’s start the day strong today. A companion to go with!”

As he sang, the staff all raised their hands in unison and shouted.

“Hoseong Savings Bank!”

* * *

9 am.

business started. Since it was a local savings bank, most of them were familiar faces rather than new customers.

“Customer number 3!”

An old woman with white hair, her curly waist, came to her window with her number plate.

Ha Eun-ji bowed her head and greeted her.

“Come here, Grandma Kim.”

“Aww, Eunji, how have you been?”

Kim Soon-rye was a regular customer who had been using only the same branch for decades. When she first opened the branch, she said that she would hand out ramen and toilet paper if she made a bank account, so I heard over and over again that she was carrying a baby on her back.

“What are you here for today?”

Kim Soon-rye proudly said.

“Is the savings account you put in before maturity?”

Even though Ha Eun-ji knew everything, she purposely made a surprised expression.

“Oh my, is it time already? When I recommended saving money, he said, ‘What kind of savings account is it because you will die before it expires?”

“It’s just something I did. For a day or two to say that an old man is dying?”

“As I said, were you good at collecting savings back then?”

“Draw it. What would have happened if I hadn’t really listened to Miss Eunji?”

“Give me your passbook, your stamp, and your ID.”

Kim Soon-rye pulled out a bankbook from a bag that was almost wrapped up tightly.

“here. I brought everything with you, so please check how much it is.”

Eunji Ha quickly tapped her keyboard.

“If you add up the two, the total is 86,43,350 won including interest.”

When she heard the amount, Kim Soon-rye smiled heartily.

“Ouch! I don’t know if this will make 100 million won before I die.”

“It’s expired, so you can visit me at any time, what should I do?”

“I’m thinking of turning this into a savings account and taking a separate savings account. Do you have any good savings products?”

Ha Eun-ji held out her product manual, which was placed in her most visible place.

“There are products with very good interest rates,” she said. It’s a subordinated bond… … .”

Kim Soon-rye waved her hand.

“I’m not good at that. I’ll just deposit. I told you before. During the IMF, Young-nim said he didn’t even look at things like that because he ran out of stock while he was in debt. It’s just a deposit.”

As Eunji Ha was trying to cover her product manual, she remembered the nagging of the branch manager that she heard in the morning. If it doesn’t sell today, the same thing will happen tomorrow morning.

She gently changed her words.

“This product is almost like a deposit, but it pays a lot of interest.”

“How much do you pay?”

“Right now, our bank’s highest interest rate is 3.1 percent, but this product is a whopping 5.6 percent. Everyone does this a lot.”

At those words, Kim Soon-rye opened her eyes like that.

“Oh my gosh! Do you give me that much?”

When she was young, a 10 percent interest rate was taken for granted, and she even gave it 20 percent right after the IMF. But that’s all a thing of the past. It’s not easy to find a place that pays 3% these days.

“I just couldn’t afford to pay more interest.”

“So it’s a good product.”

Kim Soon-rye’s heart moved little by little at the continued persuasion.

Her last words were decisive.

“Could I recommend a bad product to my mother? I’m doing this because I want to take care of one more thing.”

“Well then. I know well that Eunji thinks of me.”

Kim Soon-rye made a decision.

“Can I do one with mine and one with yours?”

Savings banks are protected up to 50 million won including principal and interest per person, but bonds are not subject to depositor protection. Therefore, there is no point in dispersing her name.

Ha Eun-ji did not have to explain that fact.

‘My bank won’t have any problems in three years.’

“of course. I will do that.”

She quickly divided 43 million won each and bought the bonds in two accounts. Even if you are a family member, it is illegal to open an account under someone else’s name. But if she does, she risks changing her mind in the meantime. She also knows each other well.

Subordinated bonds were issued like passbooks. The date and amount stamped were also the same. There is only a small mark on one side that says ‘subordinated bonds’.

“The total is 86 million won, so if interest income tax is deducted, interest will come out at 4.07 million won per year, or about 1 million won per quarter. You cannot find the money you put in for three years, but you can find the interest at any time.”

Kim Soon-rye, who heard the interest, could not hide her laughter.

“One million won every three months. I’m going to make a million dollars really soon.”

“of course.”

Kim Soon-rye got up from her seat and greeted her by holding her hand tightly, saying thank you.

Ha Eun-ji felt her inner self-satisfaction when she saw her happy grandmother.

“Customer number 25!”

This time her neat-looking grandfather with a fedora on her cane sat down.

“Hey, I’ve got some big money this time, so I’m going to make a deposit. How much interest will I get if I put 50 million won?”

She said with a big smile.

“Yes, Father. Deposits are good, but there is a special product issued by our bank this time… … .”

* * *

Hosung Savings Bank Chairman Min Jeong-ju.

He had a management philosophy that he should row when it gets wet. He said that in the meantime he couldn’t row because the water wasn’t cold, but things changed when his nephew’s father-in-law went into politics.

Park Si-hyung was the governor of Gyeonggi-do and started all kinds of businesses simultaneously. Since Gyeonggi-do did not have the budget to invest in all these projects, all of them were carried out as privately funded projects. At this time, Hosung Savings Bank participated as a financial investor with various preferential treatment options.

Roads were laid all over Gyeonggi-do, tunnels were drilled, and light rail lines were built.

When a company invests, it is natural to make a profit. Roads, tunnels, and light rails built as privately funded projects are all paid, not free.

If the tolls on public roads or private roads are reasonable, what does it matter? However, this fee was exorbitantly high.

If the fare is high, the number of users will decrease, and consequently the income will decrease. But that was no problem.

Park Si-hyeong guaranteed the minimum income to private business owners for decades, and any amount that fell short of that amount was filled with taxes.

Investors made money every year whether they made real profits or not. It was truly a land grabbing business.

After that, Park Si-hyeong was elected president of Gyeonggi Province.

At this point, the water was not enough and the wind was blowing. Thanks to this, Hoseong Savings Bank was able to grow by aggressively increasing branches.

Min Jung-joo was confident that he would be able to surpass IBS Savings Bank and rise to the top spot within this year.

But apart from that, he was currently suffering from a cash shortage. The reason is that the maturity of the loan was continuously extended without recovering the money loaned to the special purpose corporation.

To secure long-term funds, it offered higher interest rates than other savings banks, attracted deposits with longer maturities, and issued subordinated bonds. However, the funds did not come as quickly as expected.

‘Should the bond sales target assigned to each branch be increased?’

While Min Jung-ju was thinking about how to do it, an unexpected report came up.

“Does OTK Company deposit money in our bank?”

Executive Director Shin-Hyun Lee nodded.

“That’s right. We have formally inquired from there.”

“how much?”

“First of all, we are talking about 200 billion won, but depending on the situation, it is said that more is possible.”

“Huh… … .”

It would not be an exaggeration to say that this is the largest amount in a savings bank account.

Min Jeong-joo sent Lee Shin-hyun away, and then called her younger brother Min Seong-ju. And he explained the situation.

“Why do you want to deposit money with us?”

OTK Company is more than any chaebol group. There is no reason to do business with a single savings bank.

Besides, there is already a main bank called Golden Gate. Oh Hyun-joo, who is known as the third largest shareholder, is also the head of the Korea branch.

Min Seong-ju had something to point out.

“I heard that the FSS is investigating the transaction between Golden Gate and OTK Company. Maybe it’s because there’s something stabbing me?”

“Hmm, because of the FSS investigation… … .”

After all, it is impossible to know what kind of illegal activity was committed while making that kind of money. If the FSS decides to rob it, it will catch anything.

“I want to bow my head to my brother-in-law, but since it is difficult to contact him directly, doesn’t that mean he wants us to bridge the gap?”

Kang Jin-hoo was famous for having a bad relationship with the president. Under this circumstance, what would it mean to deposit 200 billion won in a savings bank run by the president’s son-in-law?

In effect, it was like getting down on his knees and surrendering.

Min Jung-joo burst out laughing.

“Haha, there’s nothing wrong with the heavens after the earthquake.”

Min Seong-joo smiled.

“I didn’t know anything about the world, but now I realized the fear of power.”

If you think about it, it’s amazing how much it has endured so far. I wish I had bowed down earlier that good things are good.

Anyway, in the current situation, if 200 billion won comes in, there is no need to worry about liquidity.

Besides, Jinhoo Kang was known as Midas’ hand in the financial world. If it becomes known that he is dealing with Hosung Savings Bank, he will be able to achieve tremendous publicity.

Could it be possible to rise to the top of the industry right away?

“Should I meet Kang Jin-hoo once?”

“Do you really need to do that? You can just ask Gi-jin in Seoul to meet him.”(Read more @ wuxiax.com)

Min Jung-ju nodded at Min Seong-ju’s words.

“I would love to do that.”

* * *

Hosung Savings Bank also has a branch in Seoul through mergers and acquisitions.

The Gwanghwamun branch was bigger than most banks. Thanks to the recent expansion and relocation, the interior was as clean as a new house.

When a bank expands branches and hires employees, it is an investment to attract more customers. However, it will take some time for the investment to return to profit.

A sudden increase in branches could cause temporary deterioration in financial condition, but there was no sign of such a thing in the financial statements.

It must not have been some kind of magic, but it was a strange thing.

I sat in the VIP consulting room and drank coffee brought to me by the staff. Shortly thereafter, a man came in. He was a tall man in his early 40s with straight features.

He greeted and held out his business card.

“Good morning. I am Kijin Min, managing director of Hoseong Savings Bank.”

I got up.

“nice to meet you. This is Jinhoo Kang.”

We said goodbye and then sat down.

“I heard you asked for a deposit. How much do you think the deposit amount is?”

“As I said when I inquired, I am thinking of 200 billion won. If you put too much money at once, I think it will be difficult to manage.”

It is not good that the bank accepts large deposits unconditionally.

If you take more deposits than you can earn from the loan, you’ll struggle to pay interest.

Min Ki-jin’s eyes lit up.

“Does that mean I can deposit more money?”

I nodded.

“of course. How much I deposit depends entirely on Hosung Savings Bank’s operational capabilities.”

Then he added something like a joke.

“You know, I have a lot of money.”

Min Ki-jin burst out laughing at my words.

“Haha, okay. You are the CEO of OTK Company, not anyone else.”

A friendly atmosphere.

“I heard that subordinated bonds were issued this time.”

“That’s right.”

“I’m thinking of buying some bonds apart from deposits.”

A blush appeared on his face.

“How much?”

I looked at it and smiled inside.

“In addition to the previously disclosed data, can I receive some data related to finance and loan status? We will review it and determine the scope of deposits and bond purchases.”