Money Keeps Piling Up No Matter How Much I Spend

Translator: Dreamscribe

Art and romance.

The center of culture.

Paris, France.

A country with the stature of France naturally inspires confidence that it is safe from terrorism. In fact, based on national security standards, hasn’t France always ranked very high?

Because of that, the recent terrorist attack shocked the entire world.

It created a fear that any country could now become the target of terrorism.

It was no wonder people were calling it the second 9/11.

“What, what on earth is going on?”

However, CEO Hwang Dae-woon’s sleepiness from staying up late playing games yesterday completely vanished upon hearing a different piece of news, rather than the France terror incident.

“We can trigger a margin call?”

“Due to the France terror attack, we can pretty much say tourism in France is over. The problem is, LK was about to open a hotel in France. They heavily promoted it, and were planning to use that as a stepping stone to expand into the entire European market.”

“But a terror attack happened at that very moment?”

“Yes. France has already closed its borders, so companies relying on the tourism industry in France are suffering tremendous losses. Their stock prices have also plummeted.”

Even the largest hotel company in France, the Lecorre Group, suffered major damage from this incident.

If Lecorre is in trouble, there’s no way LK, which had just begun its overseas expansion, could avoid the fallout.

“Starting with France, they were preparing to open hotels in various countries like the UK, Germany, Spain, and Belgium. But due to the terror incident, the entire European tourism industry has come to a temporary halt. For LK, it’s not like a fire broke out under their feet, it’s as if a meteor fell on their head.”

IS, the group that attacked France, released a statement saying that their terrorism was not over yet and that they would show an even more horrifying judgment of Allah. This put all of Europe on high alert.

To block potential terrorists from entering, they temporarily shut out foreign entries.

LK had been preparing for sequential hotel openings, starting with France and extending to other countries.

However, due to this incident, they couldn’t open even in countries where the hotel construction was nearly complete.

“But to make matters worse, something else has happened.”

“What now?”

“During LK’s management dispute, it was revealed that the root of the company was in Japan. People thought it was a purely Korean company, but when it turned out to be under the control of a Japanese holding company, the public was greatly disappointed.”

“So?”

“Originally, LK Department Store always secured duty-free licenses without fail, but because of the negative public sentiment, the government excluded them for the first time this time. The duty-free business was a major source of income, and losing it would be a massive blow.”

LK was synonymous with duty-free shops.

And now even that was blocked.

But the government had no choice but to be mindful of public sentiment.

LK’s loss of the duty-free license was a painful blow.

“The duty-free business, which they’ve always been in, suddenly got cut off. They poured all their money overseas to create a global hotel brand, but that too got halted due to terrorism... Rumor has it that they can’t even cover the immediate capital they need to pay.”

In short, this means LK Group’s debt is likely to increase rapidly, which will lead to a drop in their credit rating, and if that happens.

“We can strike, right?”

“Yes. We can cause a real stir by invoking the acceleration clause.”

It meant that Kwangwoon Securities could now start demanding debt payments from LK Group.

“And that’s not all. With payment in kind and a call option tied to it, if LK really can’t come up with the money, LK Tower might end up in our hands.”

“Is that legally possible? Even if we forced in all those favorable conditions in the contract, isn’t there still a limit?”

Just because a collateral contract was signed doesn’t mean LK Tower becomes the property of Kwangwoon Securities.

It’s a massive property carrying the title of South Korea’s best building.

Naturally, swallowing that up for 900 billion won was impossible.

“The legal team, following CEO-nim’s instructions, structured the deal as favorably for us as possible. That’s where the right of first refusal and the call option clauses come in. Especially with payment in kind, if we drive the price down too much, it could become a legal issue. But if we set the acquisition cost as a certain percentage of the collateral’s value, there’s no legal problem.”

At those words, CEO Hwang Dae-woon swallowed dryly.

“What amount did we set it at again?”

“2 trillion won.”

Two trillion.

That amount was determined by the legal team, based on the value at the time of the contract, and also set as the legal minimum to avoid any issues.

Of course, the legal team likely didn’t believe Kwangwoon would actually end up owning LK Tower. They were just trying to create the most advantageous conditions possible and set the minimum price accordingly, which is how they arrived at that figure.

“It’s our company, but man, that contract is downright scummy.”

“If they didn’t like it, they should’ve gone to a bank instead of a securities firm. Or reached out to funds. But since neither of those options worked out, they came to us and ended up signing that contract.”

Had they simply held out without selling shares, Chairman Oh Dong-yeong would’ve collapsed, and LK Group would have naturally fallen into Oh Jae-hyun’s hands.

But because they couldn’t wait just a little longer and rushed to sign, this situation unfolded.

“To make matters worse, the LK Europe project was supposed to be pursued later, but Chairman Oh Jae-hyun pushed for an early launch to speed up cash circulation, then this incident happened.”

At that moment, Hwang Dae-woon felt it was divine intervention.

On the other hand, Oh Jae-hyun was probably cursing the heavens, wondering how things could go this wrong.

“If everything goes well, we might be able to acquire LK Tower for 2 trillion won-”

“LK will fight tooth and nail to avoid selling it at that price.”

Of course. Considering how much was invested in construction, no way would they give up LK Tower for just 2 trillion won.

But you never know what could happen in life.

Honestly, who could have imagined things would escalate this far?

Above all, public sentiment had already turned its back on LK Group.

They were now nothing more than prey surrounded by predators.

“But, sir, there’s one more thing.”

“Hmm?”

“Wasn’t it Department Head Jung Jin-ho who chose this collateral?”

“That’s right.”

“Could it be... did Department Head Jung anticipate things would unfold this way?”

“!?”

Everyone should have laughed it off as ridiculous.

“.......”

But at the mention of the name Jung Jin-ho, no one could bring themselves to laugh.

***

“Chief Secretary Choi, still no update?”

“No. We’re trying our best to convince them, but...”

Chairman Oh Jae-hyun’s lips had been dry all day, and no matter how much water he drank, his throat stayed parched.

“What, are they all insane? Do they really want to just hand over LK Tower like this? All we need is 900 billion won, just 900 billion and this is over!”

The problem was, that 900 billion was not an easy amount.

Someone had to raise that 900 billion, and even the private equity funds were hesitating.

Even if they were to put up the entire 900 billion, there was the dilemma of whether this company could ever produce returns worth that amount.

In their eyes, this was a game of hot potato.

So, no fund was willing to approve the 900 billion loan.

Everyone was just watching each other.

Waiting to see who would be the one to catch the bomb.

“Above all, LK Department Store losing the duty-free license seems to have been a major factor. It signals that even the government is turning its back on us.”

Lobbying is legal in the U.S., but not in our country.

But while it’s officially illegal, everyone knows behind the scenes, politicians and businesspeople work hand in hand.

This is how conglomerates survive.

They created laws as favorable to themselves as possible and used government support to grow their company.

But now, that political connection had been severed.

Because public opinion had completely turned against LK.

If a politician were to recklessly side with LK Group now, they’d be bombarded with criticism from the public.

Chairman Oh Dong-yeong, who held those connections, collapsing also played a major role.

“So now even the funds are starting to pull out one by one. Public opinion toward LK is just too hostile.”

It wasn’t only that they had roots in Japan; being branded as unfilial for betraying his father also weighed heavily.

Honestly, this kind of public sentiment would eventually fade with time.

The problem was that they didn’t have enough funds to survive until then.

“Keep persuading them. Sure, the France project is blocked for now, but soon we’ll be opening in the UK and Germany, and Belgium and Spain will follow in sequence. It’s not like the borders will stay closed forever, right?”

“Yes, I’ll try to persuade them as best I can.”

“You must. Absolutely must. If they really want to invest in LK and make a profit, they have to protect LK Tower at all costs!”

He pushed hard, but the anxiety wouldn't go away.

If only he had responded more calmly back then.

Then he wouldn’t have ended up signing that contract.

But if no one reaches out and they all turn away now, LK Tower really will be taken away by those Kwangwoon Securities bastards.

No- more precisely, by the unknown shadowy figure manipulating Kwangwoon Securities from behind the scenes.

“That’s just ridiculous. No way.”

No matter what, that one thing had to be stopped.

Sure, France was lost, but LK Group hadn’t only extended its reach there.

Next to France, they had also invested heavily in the UK, and there was Germany, Spain, Belgium, and so on.

If they could proceed with the sequential openings, they could still generate plenty of revenue.

So this wasn’t the end.

Not yet-!

***

Could there ever be another year as horrific for Europe as this one?

"Department Head. It happened again. This time it's Belgium following Germany."

A chain of terror attacks starting with France.

After an attack in Berlin, Germany, now a terror attack had occurred at Brussels Airport in Belgium.

Europe, once believed to be safe, had been exposed, its security completely breached by terrorist forces.

As a result, the entire European Union temporarily shut its borders and began responding to the threat, and the EU officially declared that it would strike at the IS strongholds in Syria and Iraq.

“Because of that declaration, defense stocks are skyrocketing right now.”

“Wow. It’s already up 20%. And our primary investment target, TS, has surged 30%.”

“Making money is nice and all, but... it feels a bit heavy. Above all, the terrorism is terrifying. How could all the developed countries in Europe be attacked like this?”

War is an opportunity for someone.

And for defense companies, there was no better opportunity than this.

Just looking at how their stock prices were soaring told the whole story.

At the same time, it was terrifying.

It proved that no country under this sky was safe from terrorism.

“That’s why conspiracy theories are spreading like wildfire right now. Since European security was breached so easily, people are asking if the defense companies might’ve actually helped IS.”

Many other conspiracy theories were also circulating.

Claims that France orchestrated the attack to justify participating in the Syrian civil war.

Or that Israel planned it to incite anti-Islam sentiment, and so on.

Just like with 9/11.

When a shocking event happens, conspiracy theories always follow.

“The problem is, the French government, mindful of public opinion, is now cracking down on the financial sector. The French stock market took a huge hit, and now they’re trying to identify who made profits by shorting in advance.”

“What crime did the ones who made money commit?”

“There’s suspicion they may have contributed to the terror situation or helped fund IS. But honestly, it’s just a witch hunt.”

When a national crisis like this occurs, governments often respond emotionally in line with public sentiment. In that sense, we were fortunate.

Every time I looked into anything related to France, the sheer disgust made me nauseous, so I didn’t even glance at their stock market.

If we had shorted that market with billions, we’d probably be in chaos ourselves right now.

There was a reason my instincts rejected that direction.

“The real chaos is with LK Group. They bet everything on expanding into Europe, and now it’s ended up like this.”

“France is one thing, but what are they going to do now that Germany and Belgium have ended up like that too?”

“Then is the UK the only place they can rely on now? I heard that’s where the second largest amount of money after France went in.”

It’s true that LK Group’s situation is taking a strange turn.

But that wasn’t our concern.

The legal team would handle it.

What we needed to focus on now was the money we had spread across the defense companies.

“Let’s start by liquidating the stocks we’ve distributed.”

I reviewed the stocks we had scattered around.

Most of them were signaling to sell the moment the pen touched the page.

Stock prices had soared wildly after Europe declared war against IS, but in the end, that meant it was just a bubble reacting to the issue.

“Let’s hold NIX for now, it seems like it still has room to go up. Keep an eye on AERO as well. As for the other stocks, sell them all.”

“Got it. I’ll move right away.”

It would be a lie to say I didn’t feel heavy-hearted.

I didn’t cause the terror attacks, but the fact remains that I was making money because of them.

“Let’s just forget about that.”

If I get a chance later, maybe I’ll make a donation or two.

To shake off those heavy feelings, I looked through the research materials.

Right now, the research was focused on foreign assets.

Because of the terror incidents, the global economy had been shaking.

“So in the end, it’s another rally for safe assets.”

Once again, safe assets were on a winning streak.

With the EU’s declaration of war, oil prices were rising, and gold prices were soaring alongside.

It was a natural result of the anxiety that comes with war.

At the same time, unease about the European economy was growing.

War means spending money, and since the EU was acting collectively, the member countries had to pay their shares.

“Among them, the UK is paying the most.”

The country paying the largest share in the EU was the UK.

You could say the UK was the face of the EU.

But the UK had been struggling with immigration issues for some time.

The backlash from its citizens was more intense than expected, making it the country’s biggest political issue.

And in the midst of that, this terror attack occurred.

Public sentiment toward immigrants could only get worse in such a situation.

And on top of that, they now had to pay the highest contributions?

If I were a British citizen, I’d be furious too.

“So in the end, putting money into safe assets is the safest choice for now.”

I didn’t want to invest in low-volatility safe assets, but...

I was confirming the overall situation in the report and was about to turn the page.

But just as I tried to flip the paper.

“......?”

The hand holding the edge of the paper wouldn’t move.

“W-what’s going on?”

Even when I applied force, it wouldn’t budge.

What is this? Paralysis?

Why all of a sudden?

Was there something wrong with my body?

As a wave of fear crept in. The source of thɪs content is novel-fire.net

My gaze locked onto the words written at the tip of the page.

[UK, EU Exit Scenario]