Our sales revenue this year is 21 billion won, and our product cost is 15.75 billion won. Our sales profit is 5.25 billion won. Our general and administrative cost is 2 billion won, and that would make our ROS 9.5% with our operating profit of 3.2 billion won. We haven't incurred any other expenses other than operating costs…"
Since Dyeon Korea was a joint venture company with an American company, everything had to be interpreted by the interpreter — Mr. Lee.
Assistant Manager Il - Gi Seong's presentation on the upcoming year's business plan ensued.
"Our anticipated sales revenue for the next year is 36.4 billion won. The sales revenue in our national market takes up 33.6 billion won out of it, and the other 3 billion won is from the market overseas…"
With the interpretation of every word, the meeting took a lot longer than the one in other companies, and it felt boring. Gun-Ho felt tired since this was the second year-end meeting that he attended that day. It was Gun-Ho's turn to make a final statement.
"Dyeon Korea made outstanding achievement even in its first year of business. Thanks for your great work. This joint venture company started the business without any financial debt, so we could generate profits. However, as we expand our sales market to other countries, it is very possible that we might have to borrow funds from a bank which will cause a debt. That will reduce our profits accordingly. But, even though we incur some debt in developing our market, if we increase our sales and make more revenue, we can even make more profits."
Mr. Adam Castler nodded his head as Mr. Lee interpreted what Gun-Ho said.
"We need to develop our markets overseas in the upcoming year. Also, I'm hoping that we can bring more machines up to no. 16 by the first half-year. Thank you all for attending the meeting today."
After the year-end financial meeting, Gun-Ho came back to his office. He was having his cup of tea when he received a call from President Song in GH Mobile.
"Sir, it's President Song. Is Dyeon Korea's meeting over?"
"Yes."
"I heard Dyeon Korea generated 21 billion won of sales revenue with 25% of profits."
"That's correct."
"Dyeon Korea seems to be doing great. I guess handling raw materials is a highly lucrative business. I think you can expect to see more revenues coming from overseas markets starting next year."
"They set a goal of 3 billion won."
"There seems to be lots of potential in the overseas market. I've noticed that the year-end report for GH Mobile and Dyeon Korea was prepared and presented by the sales team, but it should be actually handled by a business planning department which neither company doesn't have yet. The department can develop, research, and analyze the company's long-term goals and investment, and it will produce a strategic plan as well. I think we need to form the department."
"Hmm."
"Well, I guess you must be very tired today since you attended two meetings."
"I'm okay. With my young age, I can handle this much."
Even if he said so, Gun-Ho felt extremely exhausted after getting off the phone with President Song.
Gun-Ho started thinking while having his tea.
'I guess each of my companies will need a business planning department once it hits the sales revenue of 100 billion won. I will need a department that can research and analyze new investments and implement an efficient business plan. The department should report directly to me though.'
Gun-Ho sat at his desk and opened his email, and wrote an email to Director Kang in GH Development, President Jeong-Sook Shin in GH Media, and President Min-Hyeok Kim in China.
[We had a year-end financial meeting in GH Mobile and Dyeon Korea today and discussed this year's profits and losses along with the upcoming year's business plan. Since we won't have the meeting for GH Development, GH Media, and GH Parts Company, I'd like to receive a report about the same for each company. Please send me the report via email by the end of this month. I prefer to receive the report on a one-page A4 paper. I appreciate your great work this year.]
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