The Bottom of a Large Company Does a Good Job - Chapter 275



Only Noblemtl

Episode 275. Bidding Competition (6)

In fact, Tak Jae-min did not come alone.

Because he was the real master of future construction, but on the surface he had nothing to do with it.

It is unusual for the head of the headquarters’ strategy office to personally participate in a construction company’s bidding competition.

Naturally, we ended up bringing out one person who was nominally a future builder.

That was the chief.

Since the future construction system itself has not been established yet, we came with someone whose skills have been proven.

You can’t put a half-baked person in a company that you’ve set up with determination.

Naturally, we brought in someone with a certain level of experience in the industry.

However, Tak Jae-min’s caution gave rise to suspicion and distrust.

He has yet to see the chief’s abilities with his own eyes.

I couldn’t put someone in such an important position who hadn’t proven himself by my standards.

Besides, this is after Chae Kyung-jun had already made a big splash.

I was anxious about leaving it to someone else.

In the end, Tak Jae-min himself stepped forward.

“The company’s announcement just before was so impressive that we feel burdened. However, as the team leader said earlier, in order to choose the one that is beneficial to you, shouldn’t we listen to all the companies’ conditions fairly? We would appreciate it if you would listen to our conditions as well.”

It is extremely difficult to bring back an atmosphere that has already passed.

So, Tak Jae-min used Chae Kyung-jun’s words.

What’s annoying about Chae Kyung-jun is annoying.

Since it was a seed sown by a good worker, it had to be used if possible.

Fortunately or unfortunately, the audience already had a favorable impression of Chae Kyung-joon, so they easily accepted Tak Jae-min’s words.

“I know it’s hard to concentrate because you’ve given us such good advice, but please listen to us for a moment. We’ve also prepared hard. If you listen, won’t you be able to make a wise choice?”

Tak Jae-min chose to buy sympathy votes.

At first, the atmosphere was chaotic as if everything was over, but thanks to Tak Jae-min’s efforts, people started to focus again.

It’s natural to feel sympathy for weak people.

It was ridiculous to say that Mirae Construction was weak, but it was enough to garner sympathy because it was an announcement made right after the Taesung Construction, which had left a relatively large impression.

“Okay, let’s go in and take a look.”

“The conditions here might be better.”

With the addition of the wind catcher, Tak Jae-min quickly took control of the room.

It was quite a skillful job.

The construction company employees who were watching him narrowed their eyes.

‘Hmm, that’s the eldest son of Mirae Group.’

‘Well, you have to do this much to be able to compete for the succession.’

‘It’s getting noticed so quickly.’

It’s not like you can focus just by shouting “Look here!” from the front.

In that sense, Tak Jae-min succeeded in attracting attention very lightly.

However, the situation was equally unfavorable for Tak Jae-min.

Union members have already heard a lot of information.

It is not easy to maintain concentration for a long time in this situation.

In many ways, it is better to decide the outcome within a short period of time.

If it were another construction company, they would have simply listed the conditions without any explanation.

Before the members lose interest and drop out.

But Tak Jae-min didn’t do that.

“The per capita construction cost we are proposing is 8.7 million won.”

The room was in an uproar.

Tak Jae-min deliberately did not mention the total construction cost.

The total construction cost will naturally be in the hundreds of billions.

Even when compared to other redevelopment areas, the scale of the project is different and the amount may vary depending on whether demolition costs are included.

In that situation, the total construction cost of several hundred billion won was a story from a distant world.

But when you look at it on a per capita basis, it’s a different story.

8.7 million won was a number that really hit home.

“Wait a minute, what was the per pyeong cost of construction from another construction company earlier?”

“How much was it? Was it 7.2 million won?”

“Didn’t you say it was a bit expensive because it was a luxury strategy?”

“If the premium strategy is 7.2 million won, but 8.7 million won, how premium are they going to make it?”

Other construction companies also explained their construction costs per square meter.

Too much information is given in a short period of time, which only confuses the members.

Tak Jae-min is now deliberately limiting information.

To increase concentration.

Chae Kyung-jun made a short “ah” sound.

The manager who was sitting looked up at him.

Chae Kyung-jun’s expression was colder than ever.

The manager could guess what he was thinking.

The construction cost is too expensive.

But I can’t point that out.

Since Taesung Construction has also put forward a high-end strategy, we cannot deny the direction of future construction.

And if you say now, ‘8.7 million won is too expensive,’ the answer is obvious.

-This is real sophistication.

He will answer with excitement and explain the differences between Taesung Construction and others.

Could you please set the table for me?

Tak Jae-min glanced at Chae Kyung-jun.

This was nothing short of a trap.

-You want to tackle? You want to attack? Just stab me once.

I intentionally showed a gap.

Of course, Chae Kyung-jun wasn’t the kind of person to fall for that.

As he silently stared at him with cold, sunken eyes, Tak Jae-min continued his explanation with a bored expression.

“The cost of redevelopment per pyeong in Seoul is approximately 5.7 million won.”

The commotion grew louder.

5.7 million won and 8.7 million won.

The average price means that there are construction costs that are much cheaper than that.

As comparisons were made, it became clearer what Future Construction was proposing.

“As you know, Noryangjin is a prime piece of land. Since ancient times, the price of land along the Han River has skyrocketed. You can’t build a mediocre apartment on land like this. If you’re going to pursue a luxury strategy, shouldn’t you do it right?”

Those who were taken aback by Taesung Construction’s words and those who had bored expressions pulled up their chairs and sat down.

There was no need for a separate wind catcher.

Because everyone rushed to talk about money.

“That’s right. Once you go up to the building, it’s over. You have to decide well from the beginning.”

“Are we going to end up like Banpo?”

“What is Banpo? It could become like Hannam. It’s not like anyone with money can go there.”

“Han, Hannam? Last time I looked, there was one worth 7 billion.”

“Oh my god, 7 billion!”

“Even if it’s not to that extent, wouldn’t it be possible to surpass Banpo since its location is good?”

You might be able to make quite a bit of profit from the price difference.

The benefits will vary depending on what decisions you make now.

When money is involved, people’s eyes turn.

“Of course I should go towards where I can earn a little more!”

“Banpo! Noryangjin is becoming like Banpo!”

The madness began to spread.

Tak Jae-min smiled faintly.

‘You can never get out of here. Because of what you said.’

Chae Kyung-jun previously said to choose the most beneficial option.

Tak Jae-min just took advantage of it.

He knew very well how insane the greed of people was.

Because Tak Jae-min himself was fighting for that greed right now.

“There are other reasons why we are proposing such high construction costs. Why do you think other redevelopment area associations are pursuing gentrification strategies?”

“It’s all about making money,” someone muttered.

In the silence, the sound was clearly audible to Tak Jae-min.

“Yes! It’s for your own benefit! You all know about the excess profit recovery method, right? It’s about paying taxes based on the excess profit you have left. Since that came into existence, the luxury strategy has gotten even worse.”

Tak Jae-min was now in complete control of the room.

A greedy calculator was running in people’s heads.

“Anyway, if there is a surplus, it will have to be paid in taxes. In that case, wouldn’t it be better to invest more in construction costs to reduce taxes and make it luxurious to maximize investment profits?”

People nodded their heads in agreement.

“I think you can guess what we are planning just by looking at the cost per square foot. But let me explain. Our luxury strategy is as follows.”

Tak Jae-min has now given a detailed explanation.

Because people were ready to listen with shining eyes.

Every word has its timing.

That was also the reason why Chae Kyung-jun couldn’t get involved.

If you stop Tak Jae-min now, you will be going back on your own words.

“… … These are the facilities. Now, I should tell you about the additional benefits. It’s about the basic moving expenses and rental.”

Moving expenses are different from compensation expenses such as moving costs or relocation expenses.

Once the management disposition plan is approved, people will start moving in.

Then, shouldn’t you have basic funds to settle down in a new place?

Usually, a moving expense loan is obtained from a financial institution through the arrangement of the construction company.

It is prohibited for the construction company to provide these moving expenses.

Instead, it is possible to borrow interest on a housing loan.

And there’s something called LTV.

This refers to the percentage of money you can borrow when borrowing money using your home as collateral.

For example, for a first-generation, single-family home in a speculative area, the LTV is 40%.

This means that you can only borrow up to 40% of the price of the house for moving expenses.

The areas currently designated as speculative areas are Gangnam’s three districts and Yongsan-gu/Bun(only)/Igin.

However, regional divisions are not limited to just speculative areas.

It is divided into speculative areas, speculative overheated areas, and regulated areas, and Seoul and the surrounding metropolitan area were speculative overheated areas.

In short, it can be seen as an area subject to government regulation.

Noryangjin/Eui(eun)/ Since it is a speculative overheated area, the LTV was naturally 40%.

The story was that you could only get a 40% mortgage loan from a bank.

If the moving expenses are insufficient at this time, the construction company can lend additional moving expenses.

Of course, it cannot be a free loan and must be provided at a reasonable interest rate.

These were the financial benefits that the construction company could provide.

“This is similar to Taesung Construction. We will also provide maximum support within the legal limit. Of course, the interest rate is the lowest in the market.”

In fact, this was no different from Taesung Construction.

Taesung Construction also entered the market with the determination to take over Noryangjin.

It was natural to set the highest conditions.

But if it ended here, Tak Jae-min wouldn’t have even come forward.

“Finally, let me tell you about the additional relocation loan benefit. We are offering 150% LTV for the additional relocation.”

People’s mouths dropped open.

If LTV is 150%, it means that the construction company will provide an additional loan with an upper limit of 1.5 times the price of the house.

There has never been a case like this before.

This also meant that future construction was a matter of life and death.

People started to murmur at the unexpected bombshell statement.

“150%? Has that ever happened?”

“That’s ridiculous. There’s no way a construction company would take such a risk.”

“Anyway, it’s the bank that’s lending the money.”

“No. The bank is lending money with the construction company’s guarantee, so if the construction company can’t pay it back, it’s all the responsibility.”

The construction companies that participated in the briefing session were also embarrassed.

There was a lot of murmuring among construction companies that had decided to give up on bidding and just keep their positions.

“Is the future crazy? How did you get 150%?”

“It looks like you’ve prepared a lot for the future.”

“Banks aren’t stupid. When those money ghosts take 150%, there’s a reason.”

“Even so, it’s really groundbreaking. There’s never been a case like this before.”

“I’ve seen up to 100% LTV.”

“Ah! I know where that is. It’s Bangbae, right?”

“Yes. I thought it could be like that since Bangbae was a hot potato, but I’ve seen it all 150% in my life.”

“That’s what I’m saying.”

But for them, it was just like watching a fire across the river.

His head slightly turned to one side.

Taesung Construction, to be exact, was directed at a young man leaning against a wall.

Even though he hadn’t said a word yet, everyone knew that there was no way he would end it like this.

No one underestimates a beast that lies dormant, waiting for its prey.

Even at this very moment, he could be seen carefully looking around, waiting for an opening.

A young man is one who knows his timing.

It was clear that he was waiting for his time.

“The construction company that came before us proposed an additional LTV of 70% for the relocation fee. We are offering 150%, which is more than double that. I believe you will make a wise decision as to which one will be more beneficial.”

Tak Jae-min said that and looked at Chae Kyung-jun.

A gap has opened up.

Tak Jae-min had no choice but to say it even though he knew it, and Chae Kyung-jun got the timing to strike.

As Tak Jae-min had expected, Chae Kyung-jun suddenly asked a question.

“I don’t think it’s an unconditional 150%. You need to give me more details.”

Chae Kyung-jun was circling around his prey, slowly waiting for an opportunity.