Black Corporation: Joseon - Chapter 395
Episode 395: Small changes. (7)
When the decision was made to establish and operate the ‘Adventure Capital Safe’, personnel changes took place in battlefields throughout Joseon.
In each region, a large number of people with good reputation or good performance in the startup review department were recruited to the venture capital safehouse.
The battlefield officials who had been summoned to Hanseong for education and practical adaptation training on the operation and sales of the safe looked at each other and their eyes lit up.
“That guy is him….”
“Ho? I’m here too. As expected….”
The government operated an incentive system while running the battlefield. Those who performed well received not only rewards but also favorable performance evaluations, which gave them an advantage in promotion.
And every time a bounty or award was given, a piece of paper announcing this was posted on the employee bulletin board on battlefields throughout Joseon.
Thanks to this, those with ambition applied to the sales or start-up review departments.
And here, a select group of those who had applied had gathered, and everyone was burning a competitive spirit with each other.
Education and training was conducted for the selected personnel.
The officials who learned about how the safe was operated opened their mouths in half-self-deprecating voices.
“I won’t have to go to entertainment venues anymore.”
“It looks like I’m gambling on a nationally recognized fighting board.”
“I feel ashamed that I learned the words of the saints just for this purpose.”
* * *
That’s what they said, but when the work actually started, the employees of the safe moved quickly.
Naju, Jeolla-do
“Oh my~. How have you been? Jinsa adult.”
“huh? “You went to Hanseong. When did you come back?”
Jinsa Cha, a famous wealthy man from Naju, was delighted when he saw the battlefield staff whom he had not seen in a long time.
After opening an account in Naju Battlefield, he was almost exclusively in charge of his banking affairs.
As Jinsa Cha welcomed him, Go Yeong-gu smiled brightly and accepted the message.
“I went to Hanseong and came back yesterday. “I have very good news.”
“good news?”
“So…”
Go Young-gu, who started the conversation like that, began to explain ‘adventure capital’ in detail.
…
_
_
“Hmm… So…”
Jinsa Cha opened her mouth leisurely and continued speaking.
“So, according to what you said, you are providing funds to businesses that failed the startup screening but appear to have some potential?”
“That’s right, Nari.”
“How much do you think the chances are?”
“The average is 40.3 pennies.”
“40%?”
After hearing Go Yeong-gu’s answer, Jinsa Cha’s expression worsened.
“To put it simply, if you invest in 10 places, doesn’t that mean only 4 will succeed?”
“The success rate of those who passed the Jinsa Nari Entrepreneurship Review Department is 60%. And would it be venture capital otherwise?”
“But it’s almost like gambling?”
Go Yeong-gu nodded at Master Cha’s words.
“That’s right. It is true that it is an investment that is close to gambling. But is there anything in this world that isn’t gambling? Nowadays, such things rarely happen due to good water management, but isn’t farming also a gamble? No matter how hard you farm, if God’s judgment goes awry and a drought or flood occurs, isn’t that year’s farming just a waste of money?”
“That’s right….”
Jinsa Cha, who unconsciously nodded at Go Yeong-gu’s words, listened to other parts.
“Then what is the interest rate if you put money into venture capital?”
“It’s not called the interest rate, it’s called the dividend of investment success.”
“So what happens to the dividends on the success of that investment?”
In response to Master Cha’s question, Go Yeong-gu took out a small booklet from his pocket, flipped through it, opened it, and continued his explanation.
“It depends on how successful the invested company is, but on average, we expect at least 20%.”
“At least 20%?”
“yes.”
“So, does this mean that if I put in 1,000 nyang of gold, I can receive at least 200 nyang of gold a year?”
“To be exact, it is 20% of the amount invested out of 1,000 nyang of gold.”
“I don’t understand?”
As Jinsa Cha tilted his head, Go Yeong-gu explained in more detail.
“So… if the Jinsa sari puts in 1,000 nyang of gold, but only 200 nyang of gold comes out as an investment, only the successful investment amount out of the 200 nyang will be calculated as dividends.”
“So, out of 1,000 nyang, 200 nyang was invested. Instead of calculating all 200 nyang, we will only pay dividends if the investment is successful?”
“That’s right.”
“What’s so complicated?”
In response to Master Cha’s complaints, Go Yeong-gu comforted Master Cha with a still smiling face.
“Oh my~. How can you waste the precious money of those who invested? “This is because we break it down into smaller pieces and combine it with other people’s investments to reduce losses as much as possible.”
“Cut it into small pieces and combine it?”
“yes. If what you need as an investment is 10 nyang of gold, break it into 1 nyang of gold and subtract 1 nyang of gold from each 10 minutes of investment. “If this happens, even if your business fails, you will only lose 1 tael of gold.”
“Right.”
Jinsa Cha, who was shaking his head, frowned again.
“So even if you succeed, will you only make that much profit?”
“It’s unfortunate, but that’s true. But wouldn’t that reduce the risk?”
“That is certainly true.”
Hearing Go Yeong-gu’s words, Jinsa Cha nodded as if she was fascinated by something. Looking at that scene, Go Yeong-gu muttered to himself.
‘In any case, the thing that causes the least loss is adjustment.’
Although Jinsa Cha understood Go Young-gu’s explanation to some extent, there were still some parts that were not clear to him.
“It’s all good, but… isn’t the dividend too small?”
“There are quite a few costs involved. “There are quite a lot of secondary screening fees, investment agency fees, audit agency fees, etc.”
“Are we going to do another review?”
“How can you waste the precious money of those who have decided to invest? “We need to review them one more time and select those with the highest probability of success.”
“Right.”
Jinsa nodded at Go Yeong-gu’s explanation, but he did not look satisfied.
“Still, the payout ratio is low….”
“There is a way to increase the ratio. “It’s quite an adventure, though.”
Jinsa Cha’s eyes sparkled as she heard Go Yeong-gu’s words.
“What is that?”
“You decide for yourself.”
“directly?”
“yes. You can come to the safe next to the Naju Battlefield in person, check the type of business you wish to invest in, then choose the one you think is best and decide how much you want to invest. Those wishing to invest can either invest the entire amount they want or pay the investment amount at an appropriate rate. However, there is a minimum ratio for direct investment, and you must invest at least 20% or more.”
“So how much does the rate go up?”
“It’s at least 40%. Ieast.”
“It’s at least 40%….”
“However, in the case of direct investment, you also have to bear the loss if the business fails.”
After hearing Go Yeong-gu’s answer, Jinsa closed his mouth and began to count the number of cases.
After thinking for a while, Jinsa Cha sighed and grumbled.
“Whoa~. Ah, that! “You really are a dick!”
Although the words came out in a moment of forgetfulness, they were complaints that clearly revealed Jinsa Cha’s feelings.
After complaining and savoring his appetite, Master Cha finally made up his mind.
“Let me trust you and make an investment.”
“thank you!”
“How much should I invest? “You don’t have to pay all your money, do you?”
“no. His Majesty the Lord said, ‘This should be beneficial to both those who want to start a business and become successful and those who want to increase their wealth in a sunny location. Therefore, he gave the command, ‘Those who invest should decide the investment amount according to the level of their wealth.’”
“As expected, Your Highness is wise. So what are the standards?”
“It is determined based on property tax payment records in the battlefield. However, the maximum amount that can be invested at one time is at least 30% to a maximum of half of your total assets. And once you invest, you cannot invest more for a year.”
“If I invested, I suffered some losses. So, I want to recover the remaining investment, but can I recover it right away?”
“That is also possible in a year.”
“I have to just watch for a year?”
“yes. “This is because the success or failure of a start-up is rarely determined immediately.”
“Hmm…”
After weighing the profits and losses again at Go Young-gu’s words, Jinsa Cha eventually fell for Go Young-gu’s words.
“I will visit tomorrow.”
“thank you! ah! When you come tomorrow, you must bring the battlefield account ledger and stamp. Only then can a contract be made.”
“Be sure to bring it with you.”
That evening, Mrs. Ahn, Master Cha’s wife, visited Master Cha.
“During the day, the battlefield inspector came and went. What happened?”
“ah! “That is…”
After hearing Jinsa Cha’s explanation, Mr. Ahn thought for a moment and then looked back at Jinsa Cha.
“When you go to the battlefield tomorrow, I will go with you.”
“And your wife? why?”
“Don’t I have some property that I received as a gift? If possible, shouldn’t you grow a little bigger and share it with your children?”
“Ah…”
Jinsa Cha nodded slightly and accepted Mr. Ahn’s request.
* * *
The next day, when Jinsa Cha and his wife found the safe, Go Yeong-gu welcomed them with a happy face.
“welcome!”
“I came with you because I wanted to invest as well as myself.”
“thank you! “It will be a good choice!”
Ko Yeong-gu, who guided Jinsa Cha and his wife to a separate room in the safe, brought various types of documents along with another employee.
“Let me explain again.”
“But why is that person together?”
“ah! “That friend is the person who makes sure that I explain things accurately and that I don’t leave anything out so that my wife and I don’t misunderstand.”
“You’re pretty careful.”
“It’s a position where we receive valuable investment, so we can’t do it in vain, right?”
At Go Yeong-gu’s answer, Jinsa and his wife nodded with satisfied faces.
“It’s definitely something the country is doing, so I can trust it!”
* * *
After the explanation was over once again, Go Young-gu asked Jinsa Cha and his wife.
“Let me ask you again. Would you like to sign a contract?”
“I will do it. How much is possible?”
“What about your wife?”
“I will make a contract.”
“Then…”
After that, it was all smooth sailing. The maximum possible amount was determined through the records brought with us. As soon as Jinsa Cha and his wife decided to invest the maximum amount, someone came from the battlefield and took the money from Jinsa Cha and his wife’s account and transferred it to an account created in the safe.
And as they stamped the document confirming that there were no problems with the entire process, Mr. and Mrs. Cha let out a weary sigh.
“Whoa~. Is it finally over?”
“This is the beginning. How do you want to invest? Would you like to invest directly? Or should we do it?”
After thinking for a moment about Go Yeong-gu’s words, Jinsa Cha asked.
“Is it possible to get half and half?”
“it’s possible.”
“Then I will do that.”
“All right. “What do you plan to do, wife?”
“I’d like to do it half and half, too.”
“All right. Then this way.”
Go Yeong-gu guided Jinsa Cha and his wife to the largest room in the vault.
“This is the situation room. As you can see, the bulletin board on the wall has the names of companies that need investment here in Naju, and the next column is the investment status of those companies.”
“Everyone is about half full?”
“It is a subsidy for mediation.”
“Ah…”
“First, please sit here for a moment.”
Ko Yeong-gu, who offered the couple a seat, sat across from them and continued his explanation.
“The papers placed at the top here are the 5-day report and monthly report in order. The 5-day report records information on those in need of investment within 50 ri in all directions, centered around Naju, updated every 5 days. “The monthly report is updated every 10 days regarding investments taking place throughout Jeolla-do, and the monthly report covers the entire Joseon Dynasty.”
“is it?”
While listening to Go Yeong-gu’s explanation, Jinsa Cha and his wife looked at the paper. The paper contained detailed records of new start-ups in all kinds of fields and their chances of success.
That day, Jinsa Cha and his wife decided to invest in a mix of companies that wanted to start up in Naju and companies that wanted to start up in Jeolla-do. Of course, the investment amount was not all of their investment, but only a portion.
“thank you! I will do my best!”
“Please take care of me.”