302 Chapter 296 (1/2)

Of course, Hyunwoo had to get the Bangladesh government's approval first for the mangroves project.

”Got it, let me take care of that,” said Hyunwoo.

After the call, he immediately contacted the Bangladesh government. He asked the government officials to ask for his meeting with their President with respect to the development of coconut mangroves to resolve its chronic seawater intrusion issue.

The president quickly agreed.

Hyunwoo flew to Dacca, the capital city of Bangladesh to meet the president.

President Laheman asked the finance minister to negotiate with Hyunwoo. After consulting with relevant ministers, the finance minister proposed a negotiation agenda.

”This marked area is the place that we can give you the right to develop. This area is 20km long from the coast to the sea. We'll give you 100 years of a development right, but you have to pay for the profits you make here.”

But the most important clause was missing there.

”How much do you want me to pay for this development right?”

After hesitating a bit, the finance minister opened his mouth, ”Ten billion US dollars.”

Hyunwoo was surprised momentarily.

In fact, this project was intended for Bangladesh, not for Hyunwoo's business.

Of course, Hyunwoo could make some profits, but he would have to pay the taxes anyway.

Though the development area was vast, the whole area was not proper for development. For example, he could not develop those areas where the current was too strong or the water was too deep.

Hyunwoo showed a troubled look at his proposal.

Now the finance minister tried to steal the show.

”I know what you're trying to say, but please take into account the bad financial situation of the Bangladesh government. We think we're requesting economic aid from you rather than selling the development rights to you. I know you have enough money to do that.”

At that moment, Hyunwoo held back the urge to let out a sigh.

As the finance minister said, Hyunwoo had solid financial stability.

In fact, Hyunwoo's wealth was estimated at 200 billion dollars, so the financial minister seemed to think he could spend ten billion dollars easily.

But that was his big mistake.

It was true Hyunwoo had a lot of wealth. In particular, his wealth increased a lot as he listed the local overseas corporations of STM on stock markets around the world. The total capital marketization of STM was over 110 trillion won.

Hyunwoo's signature company was Ani & Funny, which generated more than 6 trillion won in net profits per year.

But in terms of the total revenues STM was greater than that of Ani & Funny.

The local corporations of STM around the world kept expanding their factories, occupying 7% of the automobile fuel market.

Of course, STM didn't sell Super Green directly to the consumers as Oshung Group had the sole right to sell it for five years.

When the contract expired last year, STM avoided a multi-year contract. Instead, it signed a month-to-month contract.

The profit per one liter of Super Green was 300 won. Despite the monthly sales strategy, the profit decreased by ten won.

It was natural, given the enormous supply of Super Green in the market now.

Ohsung Group initially made profits of more than 500 per liter, but were only making 200 won now.

The annual production of Super Green was 1.2 billion liters in Korea, 5.6 billion liters in j.a.pan and 15 billion liters in America. Combined with the production of Super Green in Europe, China, and Southeast Asia, it totaled about 30 billion liters per year.

Besides, the sales of Toughtex went over 300 billion won per year.

The production process of Super Green and Toughtex was very simple. And the facilities were mostly automated. Accordingly, once the initial production facility was completed, there were no additional costs for it.

In the case of Super Green and Toughtex, Hyunwoo made 7 trillion won in net profit out of 10 trillion won in total revenues.

KOVE DREAM was also making over 3 trillion won in net profit every year.

The profits were not just related to the increase in sales alone. In fact, the sales profits didn't go over 500 billion won.

The main reason Hyunwoo could maintain 3 trillion won in net profits per year was that he redeemed the capital investment he made in many companies in Southeast Asian countries, China, and Korea. He made almost one trillion won in investment in those companies. As 90% of them succeeded in standing on their own feet, they generated almost 4 trillion won in profits.

Besides, Hyunwoo's personal investment was also over 500 billion won per year, which raked in over one trillion won in profits.

Combined, his combined profits were almost 17 trillion won.

Though Hyunwoo made lots of money, he spent as much.

He tried to spend the profits as much as possible instead of saving as he believed in the value of creating something new by investing.

In particular, he put the priority on educational investment.

So, he continued to expand Dalnim Kindergartens across the country by building more and hiring more teachers.