Chapter 27
Translator: Dreamscribe
Establishing a new department is a task that takes more time than expected.
Who should be appointed as the leader of this department, and who should be selected as subordinates to follow that leader’s orders?
Personnel transfers need to be made, and space for the new department needs to be created.
Fortunately, the space issue was resolved quickly.
That means what remains is the people.
“Did Jin-ho really select them?”
“Yes. This is the list that the HR Team received directly. Team Leader Jung Jin-ho personally selected them.”
Recruiting people is not an easy task.
Because depending on who you choose, the company’s performance changes.
It’s not a joke, it’s true.
In the end, investing is something people do.
One person’s mistaken judgment can collapse a company or lead it to thrive.
Just look at Jung Jin-ho right now.
“Did he say anything about the criteria he used?”
“No. There were a lot of applicants, but he picked the list on the same day.”
“What about interviews?”
“I heard he didn’t conduct any.”
This Prime-grade department is on a different level from existing departments.
Every account will be opened, for one.
All investment decisions will be made by Jung Jin-ho.
The authority has been set so powerfully that even executives, except for the CEO, cannot interfere with Jung Jin-ho’s decisions.
It’s a unprecedented personnel decision in the history of Kwangwoon Securities.
But to lead a department, good members are needed.
This means elites capable of giving sound investment advice to Jung Jin-ho must be by his side.
However, looking at the state of these members makes one naturally tilt their head in doubt.
“Could there be any criteria for selection?”
“I’m not sure about that either. What’s certain is that it wasn’t based on visible specs.”
Based on specs alone, these people wouldn’t even get close to elite, let alone Prime.
“With this selection, how many members does Jin-ho’s department have in total?”
“Twenty. Team Leader Jung Jin-ho... no, he’s a Department Head now. Including Department Head Jung, it’s twenty-one.”
Including the existing members, a total of twenty were selected.
The number fits perfectly.
Is there some reason behind that too?
“But CEO-nim, how much are you thinking of entrusting to Department Head Jung’s department...?”
“500 billion won.”
The answer came immediately, suggesting it was a pre-determined amount.
"I ran the numbers and figured out it’s the amount we can pull together by recovering investment funds scattered around. Right now, Jin-ho is holding about 300 billion won. We’re scraping together an additional 200 billion to give him.”
Prop Trading is ultimately about operating with company funds.
In other words, it’s not money from customers.
Because of that, there weren’t any idle funds lying around in the company.
All funds were either tied up somewhere or being used by other teams to generate profits.
But since the market began fluctuating around the time of the nickel issue, even the company’s internal funds were inevitably affected.
Despite this, CEO Hwang gathered as much available capital as possible and handed it over to Jung Jin-ho.
If Jung Jin-ho were to lose that amount, it would be a massive blow.
Even so, CEO Hwang was demonstrating his trust in Jung Jin-ho by allocating even more funds.
“500 billion won... that’s almost half of our company’s net assets, isn’t it?”
“If you exclude AUM, yes. That’s calculating only the company’s owned net assets. But it was Jin-ho who turned 50 billion into 300 billion, wasn’t it? We’re just adding a little more to that.” (TL Note: AUM = Assets under management)
Currently, KS Securities, the number one firm in Korea, handles about 10 trillion won in net assets.
But then there’s AUM.
That is, the money entrusted by customers to the securities firm, which inflates the asset scale.
If we only look at the company’s net assets, it might seem like it’s easy to catch up, but in reality, the most profitable part isn’t the securities firm itself.
It’s the asset management company bundled within the KS Financial Group alongside the securities firm.
The so-called fund company.
Currently, the scale of KS Asset Management exceeds 100 trillion won.
They continue expanding that scale through overseas and ETF businesses.
“I always tell the executives, don’t I? That someday we too will grow into a group and manage tens of trillions of won in funds.”
CEO Hwang Dae-woon also once dreamed of developing Kwangwoon Securities into a financial group like the so-called Big Three financial groups, managing assets close to 100 trillion won.
However, funds ultimately require customer money to flow in.
There was no way to win against the already well-established Big Three financial groups.
Everyone only wanted brand funds, and they couldn't trust funds from mid-sized companies.
Blocked by the wall of that reality, CEO Hwang had no choice but to shut down the asset management company and focus solely on the securities firm.
The memory of that time still stings.
“Someday, Kwangwoon will also grow into a group. A day will come when we’ll manage funds worth tens of trillions of won.”
“Right. But these days, I keep thinking this. That maybe our Jin-ho is the beginning of that.”
“Wow. Then does that mean Department Head Jung will become the company CEO someday?”
Of course, for now, it’s nothing more than a dream, close to a delusion.
“Oh, by the way. The car I told you to get the other day?”
“Yes. I already arranged for a corporate car. Picked a good model too.”
“Good. I don’t care if it’s better than mine. Make sure it’s the kind that minimizes injury in an accident. Jin-ho is more important than you or me.”
Jung Jin-ho, who brings in not hundreds of millions, but billions of won.
Naturally, he is more important than anyone else in this company.
“Assign a personal driver too. Support him with anything he needs. While I’m away for a bit in the Middle East, you, as the Vice President, need to look after him properly.”
“Yes. I’ll do that.”
People describe Kwangwoon Securities like this.
A place with a solid bottom, but a blocked ceiling.
But CEO Hwang instinctively sensed it.
That the ceiling, which had long been blocked, was about to pierce through the sky.
Centered around Jin-ho.
“Oh, but CEO-nim. Now that I think about it, payday is coming soon, and Department Head Jung’s performance bonus will be massive, right? From the existing amount, I mean. Then won’t you need to pull in more money to make up the full 500 billion?”
“Ah, right.”
CEO Hwang lightly smacked his forehead.
Where could he pull a few more hundred billion from?
***
The game I play can be described as a raid-centered game.
And there are large raid groups that aim for the first clear of newly released raids.
The world’s number one raid group rents out entire buildings to stream their raids and attempts clears over several days.
And there’s one thing that both these elite groups and regular raid groups have in common.
They recruit more people than they actually need.
The harder the raid, the longer it can take, sometimes several days. Even if not, dozens of members need to coordinate with the raid leader and stick to a schedule, so there are always cases of members dropping out.
That’s why they always prepare subs to fill the gaps.
But what if even the subs can’t make it?
What if someone leaves mid-raid due to real-life issues?
For that, they even prepare subs for the subs.
“Maybe we should’ve recruited a few more ourselves.”
The new department will be ready soon.
I heard the remodeling is done and the equipment setup is in its final stages.
A department capable of entering all markets, from FX to various other sectors.
The company’s first and only all-around department was about to be born.
“But I don’t really feel it...”
It seemed like we might need more people, but maybe the balance is just right as is.
At least that’s what my instincts were telling me.
So I was planning how best to allocate and manage these members.
“Team Leader~. You’ve been taking the nutritional supplements I gave you, right?”
“Oh, right.”
“Sigh. I figured as much, so I brought you some water.”
Somehow, the deputy manager was taking care of my health more than I was.
“Everyone must be getting bored since there’s not much to do. How’s the atmosphere?”
“Come on, doing nothing at work is the best. Plus, with the market showing almost no volatility, we even took a few days off, didn’t we?”
Due to weakened investment sentiment, the global market had almost no volatility.
So our team just took a short break.
One of the advantages of being a prop trader is that you can take a break whenever you want.
“And today is a veeery important day, isn’t it?”
“Department transfer?”
“Nope. Something even more important!”
“Oh, payday?”
“Yes! The sacred payday, what keeps office workers alive! That’s why everyone is all fluttery and smiling today.”
That’s partly why upper management reclaimed some of our funds.
Because they need to settle accounts based on each return rate.
“Team Leader, aren’t you happy?”
“Of course I am.”
Payday.
The reason office workers keep going.
But I was actually waiting for something more than payday.
‘When do we start investing?’
Maybe I really am someone addicted to dopamine.
I already knew this month’s performance bonus was going to be massive.
So logically, I should’ve been eagerly awaiting payday, but even more than that, I just wanted to move to the new department and start investing as soon as possible.
‘CEO-nim said he’d make it up to 500 billion even if he had to strain himself.'
Just the stake I’ll be managing is 500 billion won.
Just thinking about it makes adrenaline surge and my hands tremble.
It’s an amount you can’t easily toss around in the domestic stock market, but it’s possible in other markets.
Our department isn’t about long-term investing based on company value. It’s about short-term trading where dopamine explodes, that’s our core.
So now, I was just waiting for the day when I could start operating that capital.
“By the way, Team Leader, once you get your performance bonus, what do you want to do with it? Your bonus this time is going to be huge, right?”
“Well... I...”
Buy cars for my younger sister and parents.
Get them a new house.
If there are debts, pay them off.
Listing them out like this, it was all stuff for my family.
Ah. One thing does come to mind.
Something I’ve dreamed of and fantasized about for a long time.
Buy a building, model it after the game I’m playing, and set up a computer room where dozens of raid members can play together.
And on the floors above and below, restaurants, billiards, karaoke, and so on.
A full-on entertainment facility.
A landmark only for me and my guild members.
After work, we’d all gather there.
The kind of delusion any hardcore gamer would’ve dreamed of at least once.
“Judging by your expression, you must be planning something amazing.”
“Hmm... I guess so.”
Hobbies are important, after all.
“Then if any unexpected market volatility or other issues come up, I’ll report it right away.”
“Yes. Thank you.”
After the deputy manager left, I turned to check the monitor.
Still no significant developments.
Even the FX market, which would be the first thing we enter once we transfer departments, had an average daily volatility of only 0.5%, which was terrible.
Dding~!
Then a phone notification rang.
“Uwaaaa-!”
Right on cue, a loud cheer erupted from outside.
It was the voices of the team members.
I knew right away.
"Salary came in."
I opened the banking app following the alert.
I had already roughly calculated how much would be deposited.
But the thought of actually seeing the number made my hands start to sweat.
And finally, the deposited amount appeared as a number.
[₩75,571,157,314.]
It was over 7.5 billion won.
“Crazy-.”
***
“Hello, everyone! I look forward to working with you!!”
One by one, the people selected for the Prime-grade department began gathering in the office.
“Ah. I really didn’t think I’d be picked. Everyone was applying, so I just threw my name in too...”
“Same here. I don’t know what the Department Head saw in me, but I swear I’m going to give everything I’ve got.”
Everyone was full of energy.
Perhaps because most of them hadn’t expected to be selected for this department, they seemed a bit dazed yet showed boundless loyalty toward the Department Head.
“Everyone’s here, right? Please take a seat at your assigned workstation. It should be the same equipment you used before, with only a few additions, so you shouldn’t have any trouble using it.”
“Uh, Team Lea- no, I mean, Department Head. We’re still missing about ten people?”
"Ah. Those people will come tonight."
“What?”
They’re coming at night?
What does he mean by that?
“Well, since we don’t have much time, let’s keep introductions short. Everyone, please gather the materials for the meeting. Today, we’ll be focusing on FX, so gather everything related to that. Ah, and starting today, the funds we’ll be managing total 500 billion won.”
“!?”
Five hundred billion.
It was Kwangwoon Securities' largest scale fund operation.
The department members swallowed dryly.
“The meeting will start in 30 minutes.”
“Yes!”
The meeting itself wasn’t anything special.
The market had frozen, volatility was nearly nonexistent, and no one knew how long it would last.
At least the newcomers gave their input in whatever way they could, but it was average, more like a sincere attempt to be helpful.
“Alright, let’s get started.”
After the meeting, the real investing began.
But the screen looked very different from usual.
Since it was the FX exchange, the interface was different.
The FX exchange.
The world’s largest foreign exchange market, operating 24 hours a day.
It was more than capable of handling a massive 500 billion won fund, but the problem was, both usually and especially now, the volatility in foreign exchange was extremely low.
Of course, even earning just 1% a day on 500 billion would be 5 billion won, so the returns were on another level, but likewise, losing 1% would mean 5 billion gone.
They had stepped into a nerve-racking gambling table for the first time.
“Deputy Manager-nim, start by buying dollars. Volume... around 120 billion.”
“Ah, yes!”
Without even a moment to adjust, orders started coming in.
Starting with Lee Hye-rin, each person put a certain amount of money into their assigned foreign currency.
“Is he planning to... hold it like this?”
No, that couldn’t be.
From what Lee Hye-rin had seen of Jung Jin-ho so far, once he starts a trade, he never holds it for long unless it’s a very special case.
And sure enough.
"Deputy Manager-nim. Sell."
“Yes!”
The atmosphere in the department was unique.
The only sounds were Department Head Jung Jin-ho issuing commands and the staff responding with a loud “Yes!”
“......”
How much time had passed?
Even with the air conditioner running in the office, the sweat in their palms wouldn’t dry.
Because all their nerves were focused on Jung Jin-ho’s voice.
Was the trade going well?
How much profit had they made?
They couldn’t know the details, but there was one thing they could clearly tell.
Right now, Department Head Jung Jin-ho was wringing a dry rag for every drop of water he could get.
In this market with almost no volatility!
“Ah, hello.”
Just then, the ten new team members who were supposed to arrive in the evening entered the department, looking puzzled.
Jung Jin-ho greeted them with a bright smile.
“Welcome, everyone. Please take your seats and get ready for trading. And the rest of you, start preparing to go home. Great job today, really.”
“Ah, yes.”
The newcomers glanced over at the worn-out team members and tilted their heads in confusion.
But soon, they too would realize.
‘So that’s why he had the rest of the members come at night.’
To rotate shifts for this insane dry-rag-wringing operation!
‘Then... when does the Department Head even rest?’
Lee Hye-rin subtly glanced at Department Head Jung’s face.
The other members looked half out of their minds.
“......”
But Department Head Jung Jin-ho’s face was more full of life than ever before.
*****
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