Return To The Building Owner [EN]: Chapter 476

478

“So, you’re saying CEO Kim is trying to attract a hospital to that location?”

“Yes, that’s correct.”

“Hmm…”

Chairman Shin Chun-oh chuckled in disbelief.

Attract a hospital? Really?

It wasn’t something you could just will into existence.

After a moment, Chairman Shin Chun-oh asked, “What does Chief Choi think? Does he believe it’s possible?”

“Frankly, I doubt it. I question whether anyone would want to open a practice in such a rural area.”

“That’s my point. By the way, what method is CEO Kim planning to use to attract the hospital?”

“It’s free.”

“Free?”

At the word ‘free,’ Chairman Shin Chun-oh looked directly at Chief Choi Jin-young, seeking clarification.

Chief Choi Jin-young, understanding the unspoken question, replied, “He’s offering five years of free rent.”

“What? No rent for five years?”

“Yes, that’s right. CEO Kim’s strategy is to provide the commercial space without charge.”

“Hmm, free commercial space…”

After a moment’s thought, Chairman Shin Chun-oh inquired, “What does Chief Choi think? Will that incentive be effective?”

“It’s… complicated.”

“Hmm? What does that mean? It’s either yes or no, how can it be complicated?”

“It’s because it’s CEO Kim, not someone else.”

“Complicated because it’s CEO Kim? Is that what you’re saying?”

“Yes, that’s correct.”

Chief Choi Jin-young nodded.

When he first received the report, he found it absurd.

He thought it was ridiculous to try to attract a hospital to that rural area.

What is a hospital, after all?

They’re primarily profit-driven. No matter what anyone says, hospitals don’t just appear because someone wants them to; they emerge where there’s potential for financial gain.

So, naturally, he was dumbfounded to hear about this endeavor.

But the problem was that Hyun-sung was leading it.

Everything he had undertaken had succeeded.

Perhaps that’s why…

Chairman Shin Chun-oh cautiously added, “So, in conclusion, we can’t dismiss it because it’s CEO Kim?”

“Yes, that’s right. As you know, Chairman, nothing CEO Kim has done has failed, has it?”

“Well, that’s certainly true.”

Chairman Shin Chun-oh had to agree. Everything Hyun-sung had planned, he had achieved.

Chairman Shin Chun-oh spoke again, “So, you’re saying it will be the same this time?”

“I can’t say for sure, but we have to wait and see. What I don’t understand is the condition CEO Kim has set.”

“Condition? The rent-free condition?”

“Yes, how he conceived that idea is beyond me.”

“Hmm…”

Chairman Shin Chun-oh struggled to understand.

Offering five years of free rent, not just a year or two, was extraordinary.

Then, Chief Choi Jin-young added another detail.

“Eight.”

“Eight? What do you mean, eight?”

“The number of commercial spaces CEO Kim is offering for free. I initially assumed it was one, but it’s not…”

“Wait a minute!”

Chairman Shin Chun-oh interrupted Chief Choi Jin-young. “If there are eight commercial spaces, does that mean he’s trying to attract eight hospitals?”

“Yes, that’s right. He wants everything from general family medicine to dentistry, orthopedics, dermatology, ophthalmology, otolaryngology [ear, nose, and throat], pediatrics, and even a traditional Korean medicine clinic.”

“It’s practically a general hospital, even though they’re individual practices, isn’t it?”

“Yes, that’s right. That’s exactly what CEO Kim wants. Since a general hospital is unlikely in the countryside, he’s attracting several individual practices to create something similar. We’ll have to see how it turns out, but isn’t it amazing? How did he come up with that?”

“Indeed…”

Chairman Shin Chun-oh nodded.

As Chief Choi Jin-young said, the result remained to be seen, but if it worked, it would be remarkable.

Creating a general hospital by gathering individual practices.

“And there’s another condition CEO Kim has set.”

“More?”

“Yes, a profit guarantee.”

“Profit guarantee?”

“Yes, he’s guaranteeing a minimum sustainable profit for each hospital. For five years, of course.”

“Does that mean if a hospital doesn’t make enough due to a lack of patients, he’ll cover the difference?”

“Yes, that’s right.”

“Oh my…”

Chairman Shin Chun-oh was speechless.

It was unheard of. Guaranteeing profits in a capitalist society? That’s usually a scammer’s tactic.

But Hyun-sung wasn’t a scammer.

That meant…

Chairman Shin Chun-oh asked, “What does Chief Choi think of that?”

“CEO Kim is doing something even the government can’t. It shows how determined he is to attract those hospitals.”

“Determined?”

“Yes, he’s going to attract those hospitals no matter what.”

“Hmm… I wonder if that’s really the case?”

“Excuse me? Are you suggesting he has other intentions?”

Chief Choi Jin-young looked at Chairman Shin Chun-oh, curious about his statement.

Chairman Shin Chun-oh elaborated, “I think it’s confidence.”

“Excuse me? Confidence?”

“Yes, otherwise, CEO Kim wouldn’t have said such a thing.”

“What do you mean…?”

Chief Choi Jin-young tilted his head, not understanding.

“Don’t you understand?”

“Honestly, no. Why does guaranteeing profits signify confidence?”

“If he lacked confidence, he wouldn’t have offered it. CEO Kim is guaranteeing profits because he knows the hospitals will be successful.”

“So, instead of guaranteeing profits, he’s guaranteeing revenue?”

“Who is CEO Kim? If it’s the CEO Kim we know, he’s already analyzed the profitability. That’s why he made the offer.”

“Ah, I see…”

Chief Choi Jin-young nodded.

He had found it strange. Even with guaranteed profits, it wouldn’t matter if the hospitals didn’t generate revenue.

They needed to become self-sufficient after five years.

So why offer free commercial space? If they were already profitable, the hospitals would come on their own.

‘What’s the reason…?’

After a moment, Chief Choi Jin-young asked Chairman Shin Chun-oh, “Chairman, I have a question.”

“You’re wondering about the building rent?”

“Yes, according to you, there was no need to offer the building for free. The profitability is verified.”

“That’s not quite right.”

“Excuse me?”

Chief Choi Jin-young was confused. Chairman Shin Chun-oh had just said that Hyun-sung was confident because the profitability analysis was complete.

Now he was contradicting himself.

Chairman Shin Chun-oh clarified, “That’s just CEO Kim’s judgment.”

“Just CEO Kim’s?”

“That’s right. The potential hospital owners haven’t reached that conclusion yet. That’s why CEO Kim needs an incentive.”

“An incentive?”

“Yes, the free commercial space. He has to attract them first.”

“So, to attract the hospitals, he needed the bait of free commercial space?”

Chief Choi Jin-young looked at Chairman Shin Chun-oh for confirmation.

Chairman Shin Chun-oh nodded. “Exactly. It’s like bait in fishing.”

“And the profit guarantee is the barb [a backward-projecting point], ensuring they stay hooked.”

“Haha, the barb…”

“Yes, the small hook that prevents the fish from escaping.”

“I heard you enjoy fishing, Chief Choi. It’s just like that.”

Chief Choi Jin-young had another question: What was Hyun-sung’s basis for judging profitability?

What made him think eight hospitals in that rural area would be profitable?

“Chairman, I have a question.”

“You’re curious about the basis, aren’t you?”

“How did you know?”

“It’s the natural progression. After hearing all that, you’d wonder why CEO Kim made that judgment.”

“Honestly, I don’t think it’s easy for eight hospitals to thrive in that rural area. CEO Kim’s judgment implies he knows something I don’t.”

Chief Choi Jin-young was curious.

He couldn’t find a basis for such a judgment.

Chairman Shin Chun-oh answered, “I think he made that judgment for three reasons.”

“Three reasons?”

“Yes, otherwise, he wouldn’t have. First, the population increase in that village.”

“Ah! The population has increased recently. Our survey shows an increase of about 2,500 people.”

“That many?”

“Yes, many people in their 30s and 40s applied for farm jobs. People who had left their hometowns.”

“In their 30s and 40s… They moved as families.”

Chairman Shin Chun-oh nodded.

Hyun-sung always said he would bring people back to their hometowns within 10 years.

He had brought in that many in just two years since starting the restaurant business.

“Is that the first reason?”

“That’s not all. The population will continue to increase. New hires will increase every year.”

“So, the number of people is important. What’s the second reason?”

Chief Choi Jin-young asked curiously.

Chairman Shin Chun-oh answered, “Tourists.”

“Tourists? Will tourists use the hospitals?”

“How many tourists visit there daily?”

“50,000.”

“People get sick when they travel. Even if only 1% go to the hospital, that’s 500 people. That can’t be ignored.”

“That could be true.”

Chief Choi Jin-young nodded.

Chairman Shin Chun-oh continued, “The third reason is the concentration phenomenon.”

“The concentration phenomenon?”

“Yes, does Hongcheon have a proper hospital?”

“Honestly, no. There’s a public health center and small hospitals, but no big hospitals. You have to go to Wonju or Chuncheon.”

“So, people will flock there.”

“That could be true. You’ll find almost every department. In the countryside, that’s as good as a general hospital.”

Including the traditional Korean medicine clinic, there will be almost every kind of hospital.

Due to the population, tourists, and lack of large hospitals in Hongcheon, the new hospitals will generate revenue due to the concentration phenomenon.

Hyun-sung had figured that out.

Chief Choi Jin-young asked, “CEO Kim knew all of this from the beginning?”

“I think so. Otherwise, he wouldn’t have created this.”

“He’s as thorough as ever. Whatever the reason, he gave up the rent for eight commercial spaces for five years.”

“I admit that. It’s hard to give away what’s yours.”

“That’s what I’m saying. That’s what CEO Kim always talks about, social contribution.”

“Haha, social contribution…”

Chairman Shin Chun-oh nodded and smiled.

Social contribution?

Easy to say, hard to do. But young Hyun-sung is doing it.

Chairman Shin Chun-oh asked, “When is the hospital building expected to be completed?”

“In six months. The hospital recruitment will be advertised in daily newspapers.”