Chapter 49
Translator: Dreamscribe
“So, it ended up like this. Just the way you wanted, Department Head Jung. Right?”
Chairman Kang Sung-ho, who had stormed out in anger during our last meeting, was now smiling faintly as he filled my glass with alcohol.
“First, it was 2 trillion won. This time, it’s 3 trillion won. A total of 5 trillion won taken from Kangseong’s pocket, Department Head Jung, you’re probably the first to pull that off.”
“Hearing you say that makes me sound like a bad guy.”
“From Kangseong’s perspective, you’re not just a bad guy, you’re a thief, a thief! Haha.”
Still, he seemed to be in a good mood.
Hyung next to him filled Chairman Kang’s glass and spoke.
“Even so, Chairman. You’re not taking a loss, are you? If you look at it long-term, LK Tower will bring great profits, and if you dismantle Jintetsu properly, sell off what needs to be sold, and absorb the rest, it’s a huge gain for you.”
“That’s why I shamelessly came back here. When Department Head Jung looked me straight in the eye and told me to cough up 3 trillion won, I stormed out in fury. Coming back to accept that felt so humiliating, honestly.”
“Not at all. If I were you, Chairman, I would’ve yelled at Jin-ho and walked out too.”
Even though Kangseong Group had given us 3 trillion won to buy bonds, it wasn’t a loss for them by any means.
Think about it.
If it had really been a loss, Chairman Kang Sung-ho wouldn’t have shown up here in the first place.
“I heard, Chairman, that you’re also planning to take Osaka Harukas? Even so, Osaka Harukas is a symbolic building for Japan. Do you think it’s really possible?”
“I wasn’t greedy for that one at first either. But you know how it is. With the Mossack Fonseca Gate blowing open, no one is defending the Jintetsu Group anymore.”
On top of that, since the company Osaka Orient was being used as a front, the majority of the Japanese public had no idea that a Korean company was actually pulling the strings.
Just like how our people once didn’t know that Japan was behind LK Group.
Moreover, even the Japanese government had stopped supporting Jintetsu Group, so Kangseong Group had the opportunity to take over Osaka Harukas, Japan’s largest building.
“There will be many procedures, of course, but it’s only a matter of time now. Ah. If you ever come to Osaka for a trip, let me know anytime. We plan to put our Baekje Hotel in Osaka Harukas. You two will be treated as VIPs. Haha.”
Kangseong Group was thrilled to devour an unexpectedly massive group like Jintetsu.
And we were happy to take 3 trillion won without having to do the troublesome work ourselves.
“Alright. Cheers.”
Clink~.
As the glasses clinked together with a cheerful sound, it felt like a pleasant win-win for everyone involved.
“But there’s something I want to ask the two of you. With the 3 trillion won you’re taking, what do you plan to do with it now?”
“Well, someone like me, with a small appetite, would probably rotate it into safe assets as much as possible……”
“Department Head Jung has no such intentions?”
“No. Our Jin-ho absolutely hates safe assets.”
“Really? Yeah, I suppose. Even I can tell he’s not your average person. Who in their right mind would even think of squeezing 5 trillion won out of Kangseong Group?”
“I’m only saying this now, but when I heard that, I was so shocked I nearly collapsed on the spot.”
Everyone was just making light conversation.
The atmosphere was simply pleasant today.
The bonds had already been transferred, and now there was no reason for the two companies to be at odds anymore.
“Ah. Pardon me for a moment. I need to take a call.”
“Sure, go ahead.”
Hyung stepped out to take the call.
And just like that, I was left alone with Chairman Kang Sung-ho.
“…….”
An awkward silence fell.
But soon, Chairman Kang broke the ice.
“Department Head Jung. What’s your goal?”
“Excuse me?”
“It’s 3 trillion won, you know. That’s money that takes countless fund managers to handle, and you’re managing it alone. Yet there’s no sign you’re planning to stop. Honestly, if it were any regular person, wouldn’t they have quit by now? With the incentive you received, you could spend the rest of your life living large, doing whatever you want.”
Sometimes, I think about that too.
What would I do if I quit this job?
What should I do with the massive amount of money I received as an incentive?
But no matter how much I thought about it, other than buying a building to create a landmark exclusively for our guild, there really wasn’t anything else I wanted to do.
Besides, I had already come to a realization.
From the moment I stepped into the world of investing.
From the moment I got a taste of the dopamine that bursts out from it.
I realized I could never go back to how I was before.
“Do you know Whiterock?”
“Of course. It’s the world’s largest fund company. Don’t they manage something like 7,000 trillion won? I heard their capital is expected to grow to 10 quadrillion within the next five years?”
Even 7,000 trillion is a mind-boggling number.
But 10 quadrillion ?
That was capital power straight out of a fantasy.
“My goal is to become a company that manages such massive capital. Three trillion is still far off.”
Chairman Kang then burst into a low laugh.
“Quite the ambition. Almost to the point of delusion.”
“They say the bigger the goal, the better, don’t they?”
Of course, I don’t actually believe I can build a company greater than Whiterock.
It’s more like how, in games, I used to admire and aim for the top-ranked player or the number one guild, this is kind of like that.
“Then, Department Head Jung.”
“Yes?”
“Want to come work at our company?”
“……!”
I froze and looked at Chairman Kang.
His face was completely serious, without a hint of a smile.
“What you’re dreaming of, if it’s within Kangseong Group, you can make it happen. We’re hundreds of times bigger than Kwangwoon. Capital, system, not lacking in anything. And we’ll give you industry-best treatment. What do you say?”
“…….”
Chairman Kang wasn’t joking.
At first, I was shocked, but slowly, my emotions settled.
“I’m fine, thank you.”
“When I say industry-best treatment, I don’t mean a few hundred billion. I’m talking about trillions. Still not interested?”
“Yes. I like my current company. I like the people there too.”
Chairman Kang studied my expression, then downed his glass in one shot.
“This doesn’t look like you’re trying to negotiate at all. You’re really firm on this.”
“I’m very grateful that you think so highly of me, Chairman, but I don’t want to leave the place I love.”
“So, there’s something you value more than money?”
Perhaps his throat was dry, as Chairman Kang quickly emptied another glass.
“That includes CEO Hwang, doesn’t it? Every time I see you two, I get the feeling you’re not just a boss and a subordinate.”
“Yes. I suppose that’s true. We may not be related by blood, but to me, he’s really like family. A big hyung I can rely on. More than anything, he’s the one who stepped forward to help me when I was at my lowest.”
“Ha. Damn it. If you put it that way, then I’ve got nothing more to say. I absolutely despise people who betray those who’ve shown them grace. Still, I feel regretful, so let me ask one last time, as a final attempt. Are you really saying no? Not even a hint of hesitation?”
“Yes.”
In the end, Chairman Kang seemed to give up.
“All right. It can’t be helped.”
So I thought.
“Then, by any chance, are you seeing anyone?”
***
After the dinner, Chairman Kang got into his car.
“Chairman. Did you enjoy your meal?”
“Yeah. Let’s head straight to the hotel.”
“Yes, sir.”
Then, a sudden question popped into his mind.
“Secretary Kim.”
“Yes?”
“If another company offered you a trillion won to join them, what would you do?”
“What? A, a trillion?”
Secretary Kim’s pupils trembled as if hit by an earthquake.
Yeah. That’s the normal reaction.
Even though it wasn’t a real offer.
“Of course I’d refuse.”
“Yeah, right.”
“I-I mean it!”
“I get it. I was just messing with you.”
A trillion.
It’s an enormous sum.
Enough to shake even the most loyal subordinate.
But Jung Jin-ho didn’t hesitate for even a second.
Maybe he’s confident that he could earn that much at Kwangwoon Securities too, but that wasn’t the only reason.
After all, what is Kangseong?
It’s the top company in South Korea.
No matter how much money Kwangwoon Securities made, it couldn’t be compared to that.
However, there was something he valued more than money.
‘He said CEO Hwang helped him when he was at his lowest.’
Exactly what that meant, he couldn’t know.
CEO Hwang, that man, was enviable. No, he was enviable to the point of madness.
Now he could finally understand how Nolbu must have felt, jealous of Heungbu. (TL Note: A Korean bedtime story. You can read about it here: https://en.wikipedia.org/wiki/Heungbu_and_Nolbu)
Where on earth had he found such a talent?
And on top of that, he was a guy with loyalty.
That was truly admirable.
A loyalty as immovable as a mountain, even in the face of money.
He even said they weren’t related by blood, but their bond was stronger than that of blood brothers.
It had a sense of romance, something to envy.
Maybe it reminded him of Liu Bei and his sworn brothers from the Romance of the Three Kingdoms, which he’d enjoyed reading in his youth.
‘…But Liu Bei’s sworn brothers were three people, weren’t they?’
Jung Jin-ho and Hwang Dae-woon.
That’s only two.
Wouldn’t it be possible to fill the third seat?
***
This bustling early morning air.
Everyone must have found it hard to go to work, but once inside the office, they were too busy moving to notice.
Before the market opened.
There were many things to prepare, quick meetings, pre-market strategies, and more.
It was the kind of atmosphere you could only find in Yeouido, one that you’d grow to miss.
“Ah, Department Head.”
The day after I returned from my business trip to Japan, I went straight into the office.
The one who welcomed me the most enthusiastically was Manager Seo.
“You must’ve gone through so much working all the way in Japan.”
“Not at all. Honestly, I felt kind of guilty because it seemed like I was just playing around too much.”
“Oh, come on. Playing? You brought back 3 trillion won!”
“He’s right. We almost passed out when we heard the figure. How did you manage to get 3 trillion won out of Kangseong…!”
While I’d been in Japan, I’d felt a kind of emptiness I couldn’t quite explain, but now that I was back here, it felt like that hollow feeling had been filled.
No, maybe it was simply a dopamine shortage from not being able to move money around.
“Did you all get some rest? You didn’t need to come in while I was gone.”
“We got some rest, but still. With you in Japan, fighting hard against Kangseong, how could we just sit around and relax?”
“Don’t even get me started. Manager Seo was staring at your empty seat every day, desperately waiting for your return.”
“Ahem. W-when did I ever do that.”
Apparently, I wasn’t the only one who had felt empty.
“When I actually tried to relax at home, it just wasn’t fun.”
“Even while spending our incentives freely, there was still something missing we couldn’t shake off.”
“Yeah. So I wasn’t the only one who felt that way.”
Looks like I wasn’t the only one addicted to this thrill.
“So we dropped by the office from time to time to monitor the current market and compiled our analyses.”
“We kept receiving data from Research and organized files on both domestic and overseas markets.”
Maybe they were too passionate.
There was now a mountain of reports waiting for me to read.
“This will take a while.”
“We’ll do our best to summarize everything and report it efficiently.”
Gathered in the meeting room for the first time in a while, the staff excitedly began their briefing.
“With the Mossack Fonseca incident, global political and financial stability is being shaken. Too many people are involved, and it’s been revealed that some of the funds were even used for terrorism, so people are treading very carefully now.”
“It seems that Korean politicians and businesspeople are also involved, and there’s talk of a major tax investigation… but I don’t know. Won’t it all just blow over here like usual?”
“There’s really no room to start digging right now. The national administration is too chaotic.”
The Mossack Fonseca Gate truly had massive repercussions.
All the rest aside, the fact that terror funds had come from there was the most serious issue.
If not for that, things wouldn’t have blown up this much.
Tax evasion happens in every country.
“…?”
Then something caught my eye.
A report about the rumored default of Hanjong Shipping.
“Ah, Hanjong Shipping. Yes, there are some troubling rumors going around in the financial world. That they’ll go bankrupt soon.”
“Are they really going bankrupt? As I recall, there was some good news for Hanjong Shipping recently.”
“Yes. But now people are saying that was fake. They supposedly secured a contract worth several hundred billion won, but it somehow fell through. Some are saying the whole thing was a plan to artificially boost their stock price in a short period.”
Shipping companies, as the name implies, conduct trade via the sea.
Isn’t it true that 90% of global trade is carried out over the ocean?
In the past, Korea made considerable profits from shipbuilding to shipping.
But now, with far too many competitors globally, our country couldn’t survive in that suffocating competition.
It wasn’t just Hanjong Shipping, there were also rumors that Daekwang Heavy Industries’ affiliate, Daekwang Shipping, was also struggling to stay afloat.
“So someone manipulated the stock price?”
“Yes. But the thing is, the contract they signed was real, and it’s also true that it fell through. The Financial Supervisory Service is probably investigating it, but the problem is that there seems to be a pretty large-scale operation behind this. The Research team believes that the Neriet Fund is involved.”
Neriet Fund.
I knew them too.
They were well-known for one reason: the Kangseong Group.
Like many major conglomerates in Korea, the Kangseong Group also operates through a circular shareholding structure, and during a succession process, Neriet tried to exploit a gap to seize control of Kangseong.
Naturally, Neriet didn’t succeed in taking over the Kangseong Group, but they still made a huge profit and pulled out.
“They’re quite famous. A bear raid fund that goes around Asia short-selling. They artificially pump up the stock price to attract retail investors, then spread malicious reports and rumors to make the company seem like it’s about to go bankrupt, driving the price back down to their short-selling entry point.”
Bear raid.
A strategy where they spread negative rumors about a specific company to tank its stock price and profit through short selling.
There are funds and investment firms that specialize in this, and Neriet is one of them.
Neriet isn’t the only one. There are more bear raid funds shaking up our domestic market than people think.
Because of scum like them, Korea has implemented heavy financial regulations.
The problem is, even with regulations, they find new loopholes and repeat the same tricks.
“The biggest problem is with the company’s owners and executives. I heard they sold off all their shares when the price spiked on the good news.”
“So they were in on it?”
“Yes. The only ones really screwed are the retail investors who got tricked. On the other hand, short-selling forces like Neriet are probably already popping champagne bottles.”
It was a pitiful situation for the retail investors.
If the stock price kept falling like this, Neriet would cash out big and walk away, and with the owners and executives already having jumped ship, the only thing left would be delisting.
Then the company would go into rehabilitation proceedings, and eventually be declared bankrupt, turning all the shares held by retail investors into worthless paper.
People would cry out, but no one could save them.
The government might provide minimal support, but it wouldn’t even cover 10% of their losses.
Unfortunately, this was something that happened from time to time in Korea.
I did feel sorry for them, but there was no way to help.
You just had to be careful not to step in this kind of crap…
“Hm?”
It was happening again.
Just like during the Mossack Fonseca case, when blood had dripped from my thumb, this time, instead of red blood, it was a cool, ocean-like blue color.
‘Is this another kind of signal?’
I had been thinking that from before.
Whether it’s games, sports, musical instruments, or anything else.
When a person does something repeatedly, they gradually improve.
Eventually, a point comes when their skill takes a sudden leap.
Could this be something like that?
‘And it’s blue, not red.’
When it was red, it had been chilling and creepy, but this felt like refreshing waves crashing against my chest, clear and cool.
“Department Head?”
“This… Hanjong Shipping.”
“Yes?”
“Shall we take a position?”
“Huh?”
The staff looked at me as if they didn’t understand what I was saying.
Why would we go into a stock that’s already dying from a coordinated attack?
“No way, Department Head…”
Then Manager Seo seemed to realize something, his eyes started to sparkle.
“You’re planning to devour the Neriet Fund in reverse?”