Story of a Big Player from Gangnam

Professor Wang answered to Gun-Ho’s question while sipping his Longjing tea, whether the currency’s exchange rate would increase more in the near future.

“Well… How would I possibly know that? I am not the son of Zhuge Liang.”

“You are the professor who is teaching Financial Management in college.”

“Actually, I am also a member of the Financial Service Committee of the province and a member of the Real Estate Development Committee. I believe Chinese Yuan won’t rise anymore because the export to the U.S. will drop otherwise. If Yuan keeps increasing, the government will start suppressing its currency with various policies.”

“Hmm… I see.”

“The real estate market has recently been overheated, so the government thought of pulling out their sword to intervene, and then they decided not to.”

“Why not?”

“They decided to let the market control it for now; so Chinese people can build their wealth and it will attract more foreign companies. In that respect, you were lucky. I didn’t have enough seed money to invest in real estate. I’m envious of you. There are five things you need in order to become rich.”

“Five things to become rich?”

“Someone made it up for fun. I will tell you later. Haha.”

“Silly!”

“So, are you going to do the real estate investment again in Korea?”

“The real estate price in Korea is already too high. I’m not sure if I have enough funds to do that.”

“A developing country government curbs speculative investment in real estate. I guess they will try to take excessive profits from them to control the market. Also, the population cliff will bring negative effect on the real estate price. However, there have to be certain areas where the real estate prices are still rising, just like the Hwaganghwawon condos in the West Lake area. That should be the area you want to focus on for your real estate investment.”

“Hmm, I know where. There is a district in Seoul, called Gangnam. No matter what happens to the real estate market in Korea, the real estate price in Gangnam is always on the rise.”

“That’s the one! Did you say Gangnam? The price in that area will increase even more if there is a lack of supply and the demand is high.”

“You think so?”

“The price will increase in Gangnam. The fundamental reasons are important for the price hike in stocks and real estate, however, you shouldn’t ignore mass psychology. You should research Gangnam. We say Gangnam to indicate the southern area of Yangtze River in China. Korea has Gangnam, as the name of an area. Haha.”

“Right. Actually, it’s the southern area of Han River in Seoul.”

“Really? When are you going back to Korea?”

“The day after tomorrow.”

“That early? Are you ready to go?”

“Yes. I even finished my tours in other areas of China.”

“Call me when you arrive in Korea. It’s really good to have a Korean friend. Let’s drink up.”

“Sure!”

The two men stood up and crossed each other’s right arms and drank their liquor to show their friendship.

Gun-Ho came back to Korea.

He left all his belongings in China except; the Kookmin Bank book showing his 1,174,800,000 won, the bank book from Industrial and Commercial Bank of China with his 20,000 Yuan, the diploma of Zhejiang University, and the HSK level-6 certificate. He decided to stay in his parents’ home in Incheon before he finds his own place. Gun-Ho’s mother welcomed his son.

“Are you back for good?”

“Yes, mom. But I will stay here for one or two days and will move to my own place.”

“Did you already find one?”

“I will find one.”

“How was China? What are you going to do now?”

“I graduated from a four-year college in China, and I saved some money by running a Korean restaurant there as well. I am thinking if I should find a job or start my own business.”

Gun-Ho showed his college diploma to his parents.

“Oh, but it’s all written in Chinese; I’m not sure what it says.”

“It’s a diploma of Zhejiang University, majored in accounting.”

“I’m so proud of you, my son.”

Gun-Ho’s mother patted the college diploma and said,

“Someone wanted to introduce a girl for you but I couldn’t say anything. You should get settled and married soon.”

“My marriage? I don’t want to hear it, mom.”

Gun-Ho got annoyed. Gun-Ho’s mother looked at Gun-Ho’s reaction and wondered if he had a girlfriend already, but didn’t want to tell her yet.

Gun-Ho was already used to a spacious apartment living life. He felt suffocated living in his parents’ shabby 18 pyung townhouse apartment. Moreover, he had to share a tiny bathroom with his parents; he felt very uncomfortable.

“My mom was always envious of people living in the apartment in Guweol Town, Incheon where my aunt is living. She used to talk about how lucky those people are. I can purchase a larger condo than that apartment in Guweol Town close to Incheon City Hall, and start a spacious café or a fast food restaurant like Lotteria. I think I can have a nice life in Incheon with the money I have.”

Gun-Ho was thinking while laying down on the floor in the small room of his parents’ apartment.

“And I can get a luxurious car. People will see me as a rich man in Incheon. No, I guess I have to move to Seoul so I can grow more.”

Gun-Ho repeatedly drew and erased his life’s blueprint in his head before falling asleep.

The townhouse apartment that Gun-Ho’s parents were living in was a rental apartment with monthly rent. It was a shabby twenty-something years old apartment, but he felt stable staying in his parents’ home. He liked the breakfast time, as well with his parents.

“Mom, one more bowl of rice please.”

He had steamed rice with Doenjang-jjigae and Kimchi for his breakfast and burped loudly.

“I love my mom’s food.”

Gun-Ho decided to go out and find a OneRoom after breakfast.

“Let’s go back to Noryangjin!”

Gun-Ho felt comfortable to go back to the area he was familiar with. He went to a realtor’s office behind the Dongjak District Office; he used to live in the area.

The realtor showed him a OneRoom. The room was on the third floor of a shabby low-rise building.

“Hmm… This is not very…”

Gun-Ho didn’t like it.

When he was running a Vietnamese noodle restaurant, a room like this one was more than enough to Gun-Ho. However, he was different now. He already tasted a luxurious life with a spacious apartment in China. He thought he didn’t want to live in a room like that anymore.

“Hmm… Let’s pay more and live in a clean office-tel!”

Gun-Ho headed to the Noryangjin elementary school area to find an office-tel, and then changed his mind.

“Let’s not stay in Noryangjin. The area is dingy and too busy with exam preparers. Let’s try another area. Moreover, Noryangjin has never worked in favor of me! I had studied for years here for the level-9 government job exam to fail, and my Vietnamese restaurant was a failure as well! I don’t think I can get along with Noryangjin. Let’s try somewhere else!”

Gun-Ho thought of moving to Gangnam for a second and then decided to move to Yeongdeungpo District which was closer to Incheon where his parents were living.

“I should wait before I move to Gangnam. I want to grow more before going to Gangnam!”

When he saw a not-so-expensive office-tel behind the Yeongdeungpo traditional market, he made a lease contract right away. The monthly rent was 500,000 won with a security deposit of ten million won. The room was large and it came with a refrigerator, washer, gas oven, air conditioner, etc.

“I just need to call KT for the Internet connection.”

Gun-Ho’s life in Yeongdeungpo District started.

Gun-Ho purchased a nice computer and a small TV. He also bought a new bed and a desk as well.

“I will pursue my dreams here. I already received one of the richest man’s energy—Marwin, from China and I will erect myself here.

Gun-Ho repeated that he would erect himself three times loudly.

“Sh*t, something else down there erected.”