Chapter 106

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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There’s a saying about neighboring countries.

But just because they’re neighbors doesn’t mean they’re necessarily close.

Especially for neighboring countries, there’s a strong tendency to view each other as rivals, and naturally, they’re often hostile diplomatically and socially.

And Singapore naturally has such a neighboring country.

That’s Malaysia.

“Wow… They even dispatched warships?”

“Yeah. Both sides’ warships are currently facing off. They’re not fighting each other yet though.”

“Sigh. What if someone accidentally presses the wrong button and they start fighting?”

“That won’t happen. You know. It’s just an obvious staged standoff.”

We’ve had North Korea provocations many times too, but they never led to all-out war.

Of course, there have been times when we exchanged artillery fire, but it doesn’t proceed to the next level.

In that respect, the intensity between Singapore and Malaysia was even weaker.

“How’s the Singapore market? Did it get affected by this?”

“Everyone knows they’re just doing a show-off standoff, so the market isn’t shaken and remains solid. Also, isn’t Singapore the place responsible for Asian finance after Hong Kong? Unless someone really fires a missile, it should remain solid going forward.”

The reason Singapore and Malaysia are doing this is because of the maritime zone.

Malaysia expanded its port area without notice, infringing on Singapore’s territorial waters.

The problem is Malaysia also claims sovereignty over the waters Singapore claims, leading to ongoing disputes over that area.

So they pick fights like this from time to time.

“Has the Singapore account been opened?”

“Yes. We’ve opened everything as requested. However, there are limits to us entering all at once, so we’ve opened additional accounts through other brokers too. If you just give the order, we’ve finished setting up to distribute investment funds to Singapore.”

If the setup is complete, it’s time to put money in.

Currently the funds we can move are about 10 trillion won.

The rest of the money is all in British pharmaceutical companies.

“Here are the stocks I’ve selected.”

“Ah, yes.”

Manager looked quickly over the list I handed over.

His face showed slight surprise.

“What is it?”

“N-nothing. It’s just… the stock list you selected are all large-cap stocks. For companies of this scale to shake, Singapore’s economy really has to shake severely…”

At that, Manager and the employees were sneakily watching my reaction.

Actually, I also don’t know what will happen to Singapore.

I just checked where my intuition reacted.

That’s why their reaction was understandable.

For these stock prices to fall, Singapore’s economy really has to collapse significantly.

“The fact that President is buying short selling and related derivatives here means you already have something in mind. I’ll immediately secure volumes. It’ll take a few days.”

“Yes. Please work hard.”

“Yes. Ah… and President. May I say something presumptuous?”

“Yes. What is it?”

“It’s just that if you really want to make Korea an Asian financial hub, the biggest problem is Korea’s regulations. Isn’t financial regulation the reason our country can’t develop as a financial hub? Tax rates are high too. If we can’t primarily resolve these things, building an Asian financial hub will be very difficult.”

Wanting to make our country Asia’s largest financial hub was actually a distant story.

Even if Hong Kong became like that and an opportunity came, as long as there’s the strong competitor Singapore, it would be difficult to make our country a financial hub.

So they would have to take time and proceed slowly, and someday there might be a bit of hope.

But to prepare this quickly?

I thought it wasn’t time for that yet…

“!?”

The moment I thought that.

A strong trembling occurred in my body.

What does it mean that my intuition is shaking me in response to Manager Seo’s advice?

That what he said is correct.

That means we need to prepare before it’s too late.

‘But who should I discuss this with?’

To ease government regulations, I eventually need to communicate with the government side.

But I can’t suddenly meet those people myself.

“……”

I fiddled with my phone.

I wonder what our hyung-nim is doing right now.

————————————————————————————————————————

“You’re busy people, so I really appreciate you coming to this meeting.”

“Haha. Not at all. Rather, we were more surprised. Because the Chairman suddenly requested a meeting. So I canceled my existing schedule and rushed over.”

“Oh my. You didn’t need to do that.”

“It’s fine. Gwangwoon has done so many favors for our government this time. There was even word from the Blue House to take special care of Gwangwoon matters.”

Chairman Hwang Dae-woon was somewhat relieved.

Certainly, the current government feels sorry toward Gwangwoon.

When there was diplomatic conflict with Japan, wasn’t it Gwangwoon that stood at the very front, collapsed Japan’s economy, and made them kneel?

But with this EU antitrust incident, the government couldn’t help at all as Gwangwoon Shipping was forcibly split.

That’s exactly why they feel sorry.

“I’m glad you see it that way. Both the Minister of Strategy and Finance and the Financial Services Chairman here. If you view Gwangwoon favorably, there’s nothing more I could ask for.”

The two most influential people regarding the economy and related regulations were now sitting in front of Chairman Hwang Dae-woon.

After spinning glasses and finishing small talk for a few minutes.

The Minister of Strategy and Finance spoke first.

“Chairman. What is the reason you called us two together today?”

Hwang Dae-woon also set down the glass he was drinking from.

“Did you see the Hong Kong situation this time?”

“Yes. It was brutal. I didn’t think China would come out that strong.”

“It should be seen as a measure against the growing anti-China forces. It’s also a threat that if Taiwan doesn’t comply, they’ll unify by force too. Anyway, the economic shock from this is tremendous.”

“Are you perhaps talking about the capital outflow happening from Hong Kong?”

“Yes. That’s exactly why I invited you two.”

The two had expressions that they didn’t quite understand what he was saying.

“Where do you think the funds flowing out of Hong Kong will go?”

“Well… wouldn’t they flock to Singapore?”

“They would. But isn’t it too wasteful to give all that money to Singapore?”

“Pardon?”

The two blinked their eyes several times.

As expected, having been in politics for a long time, they’re quick-witted.

“Are you saying you want to bring that money to Korea?”

“Yes. If we can gather that capital in Korea, couldn’t our country become the Asian financial hub replacing Hong Kong?”

At that, both of them burst into laughter.

They think it’s a nonsensical story.

“I’m serious.”

“But you know well that’s difficult, don’t you?”

“Yes. Above all, because our country’s regulations on foreign capital are severe. Tax rates are high too. However, if you two actively step up and change those regulations, we’ll take care of the rest.”

“…!?”

The smiles completely disappeared from both their faces.

Because they realized Chairman Hwang didn’t call them just to joke around.

“Ch-Chairman. This is so sudden… How exactly are you planning to bring all that capital to Korea?”

“We’ll figure out that method. However, if the government side doesn’t open the way, no matter how much we want to bring capital, we can’t.”

“……”

The flustered two didn’t know what to answer.

Asking to open the way means having to ease all regulations they haven’t touched until now, which was an extremely complex matter.

No. Even if they do open it well, are they really confident they can bring all that capital?

“Isn’t the problem that’s most tormenting this administration real estate? There’s a reason all of our country’s capital is concentrated in real estate. One of them is the lack of development in the financial market. If we can seize this opportunity and serve as Asia’s financial hub, wouldn’t the real estate problem solve itself?”

“That would be true, but…”

“It’s such a complex matter. Regulatory easing isn’t decided all at once…”

“Isn’t now the optimal situation? There’s never been another time when this administration held so many seats. Perhaps this might be the first and last opportunity.”

The two weren’t stupid either.

The idea itself of making Korea an Asian financial hub instead of Hong Kong was indeed difficult, but as Chairman Hwang said, it might be the first and last opportunity.

Because Hong Kong has never been shaken like this before.

“This isn’t something I’m saying just to pursue Gwangwoon’s interests. Ultimately, doesn’t this country need to do well? We always prioritize national interest. With a powerful Republic of Korea, there won’t be cases where our Gwangwoon is forcibly dismantled by thugs like the EU.”

At those words, the Minister and Chairman became solemn.

Because they couldn’t even imagine how heartbreaking it must be to have shipping they lovingly raised suddenly split apart.

“…I understand the Chairman’s intentions well. And what you said about our country needing to be strong first for our companies to be equally strong, I really empathize with that.”

“We’ll go back and actively proceed with discussions. However, as you mentioned earlier, foreign capital must definitely come in. Otherwise…”

“Don’t worry about that. I know very well the impact of that.”

“Yes. If it’s the Chairman, that’s trustworthy. Isn’t it Gwangwoon that’s establishing legendary achievements? Haha.”

Fortunately, the conversation went well.

While smiling and raising his glass, Hwang Dae-woon felt anxiety welling up in a corner of his heart.

It’s fine up to the point where those two return and discuss with the government to ease regulations.

But what if the capital in Hong Kong doesn’t come to Korea and all goes to Singapore?

Then the Korean market will literally have opened the castle gates to the enemy.

In other words, it would be catastrophe.

If that happened, things clearly wouldn’t end with just shipping being split.

His anxiety was such that he didn’t even know if the alcohol was going into his mouth or nose.

‘Jin-ho. I’m counting on you.’

————————————————————————————————————————

The one smiling most at the Free Hong Kong movement happening worldwide was none other than Singapore.

Since their greatest Asian financial rival Hong Kong was collapsing on its own, Singapore could now absorb all that capital.

At this level, one might think the Chinese government was intentionally helping Singapore.

But such thoughts lasted only briefly.

“Wh-what’s all this about?”

They were enjoying watching Hong Kong burn, but when they looked back, an even bigger fire was spreading in Singapore.

“Why is the financial market shaking this much?”

It was the first time Singapore’s market experienced such a plunge.

Even during the famous subprime crisis, it wasn’t this bad.

“It’s because too many negative factors overlapped.”

“Negative factors? The military standoff with Malaysia?”

“That’s included, but the recent public health information leak incident also played a part.”

A public health group in Singapore was massively hacked, leaking information of 3 million people. Among them was even Prime Minister Lee Sen’s information—it was that big an incident.

“But that’s not something that would directly hit the financial market, right?”

It’s a big incident and something that could undermine financial credibility, but it can’t create a plunge of this magnitude.

This is just a secondary reason.

The decisive factor was something else.

“It’s because of Gwangwoon.”

“Gwangwoon?”

“Yes. Isn’t the EU forcibly dismantling Gwangwoon Shipping this time?”

Prime Minister Lee Sen knows that well.

Because he too had actively supported the EU in this Gwangwoon Shipping dismantlement.

How much had those bastards messed around while controlling numerous ports until now?

They were eyesores, and thanks to the EU stepping up, Singapore could also add its weight.

“The core of our Singapore is trade. There are really many ships passing through here. We depend on it a lot too.”

It was unavoidable given the geographic characteristics.

Also, they deliberately designed it that way to maximize profits.

“The problem is that as Gwangwoon Shipping is being forcibly split, they’ve stopped all ships entering and leaving our Singapore.”

“What?”

“At first it wasn’t noticeable, but they gradually increased the amount, and eventually stopped all ships.”

“What? They’re doing that even though there are contracts?”

“They’re saying it’s no longer their responsibility. Since the EU and our Singapore government actively supported the split, they can’t run the company anymore. They’re telling us to figure it out until acquisitions are made and ships resume operations.”

“Th-these irresponsible…!”

But Gwangwoon wasn’t wrong.

It’s true they’re being forcibly stripped by the EU, and Singapore also supported that.

“Are they retaliating now?”

“It’s retaliation, but there seems to be another intention.”

“Another intention?”

“Yes. Before this chaos happened, large short-selling forces had already entered the Singapore market.”

“Wait. Is that Gwangwoon?”

“We can’t know for certain, but the timing is suspicious. At this level, they clearly aimed for it.”

So these bastards are trying to make a big killing using Singapore’s economy?

“Even so, can this level of panic come? Is recovery really that difficult?”

“It’s not. The complete halt of trade is a big blow, but it was a level that could somehow be resolved. The problem is that SNS has developed so much these days that once something happens, exaggerated rumors spread. That’s what’s causing panic selling now.”

And the ones controlling even that SNS were Gwangwoon.

Isn’t PickPick one of the top SNS platforms dominating Asia right now?

“These guys…”

Prime Minister Lee Sen’s hands were trembling.

Because Gwangwoon was playing with Singapore’s economy right now.

They’re going to retaliate like this just because we followed the EU’s pressure?

“It seems Gwangwoon is trying to recover all their shipping losses from our Singapore. Especially because of this incident, all the capital that was trying to come from Hong Kong has stopped at once.”

“Then where’s it going? Korea? They can’t go there.”

“Actually, they can. The Korean government just announced new financial deregulation yesterday, promising to open the financial market to receive foreign capital as much as possible.”

“Wh-what!? So the Korean government is in on it too!?”

Anger rose to the top of his head, but since Singapore threw the first punch, he had nothing to say. But he felt wronged.

“The EU is the one splitting shipping, so why us…!”

They just cheered from the sidelines of the EU, and now Singapore’s economy was about to be ruined.