Chapter 116

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“……”

Along with the sound of flashes going off, lights were running wild here and there.

What was it that celebrities used to say?

That when you receive a flash baptism for the first time, your mind shakes as if panic is coming.

“Chairman Choi Hyun-tae. Please say a word about this incident!”

“……”

In the blinding flashes that made it hard to even open his eyes, Choi Hyun-tae lowered his head.

“Everything is my oversight. And my responsibility. I will reveal everything at the hearing.”

Chairman Choi answered thus and entered the hearing venue.

“……”

The inside was actually more peaceful than expected compared to outside.

The lawmakers from each party also made eye contact with Chairman Choi with gentle gazes.

Can he… feel a bit reassured?

“We will begin shortly. Everyone please take your seats.”

But as soon as the committee chair finished speaking, the lawmakers’ gazes changed completely.

“National Pension Service Chairman Choi Hyun-tae. Please begin with the oath.”

“Ah, yes.”

As soon as the oath ended, the lawmakers’ scolding-mixed questions followed.

“The short selling investment using the National Pension’s 700 trillion won is unprecedented! Although you made huge profits, operating the citizens’ retirement funds in such a risky manner goes against the purpose of establishing the National Pension!”

“Isn’t the National Pension’s goal stable returns, not ultra-high-risk investment? Fully investing the citizens’ hard-earned retirement assets into short selling is close to gambling, and if it failed, citizens’ lives would have been ruined!”

Everyone agreed with those points.

That’s why Chairman Choi didn’t even try to refute it.

He just nodded and accepted his fault.

“However… it’s not right to only criticize. Didn’t a miracle occur where the National Pension’s assets grew from 700 trillion to a whopping 1,500 trillion due to Chairman Choi’s critical decision?”

“Are you saying we should defend this?”

“That’s also basically gambling with the citizens’ money!?”

The National Pension’s capital went from 700 trillion to 1,500 trillion.

The key point was this was an achievement in a short period, and this was unprecedented in financial history.

But even so, Chairman Choi’s fault doesn’t disappear.

Though the result was good, he did ultimately use citizens’ money to make speculative investments as he pleased.

“Therefore, taking full responsibility, I plan to step down from the chairmanship as of today. Since I dared to speculate with the citizens’ money, I have no intention of making excuses or returning to public office. And everything was decided by my sole judgment. No one else besides me is responsible, so I earnestly ask the respected lawmakers to please remember this.”

To others, Chairman Choi might seem to have grounds for complaint.

The National Pension no longer needs the older generation fighting each other while worrying about future generations. Because for the time being, they don’t need to worry about National Pension depletion.

“Chairman. I heard there’s talk of soon moving the National Pension money in the US to Europe at the EU’s request. What are you going to do about this?”

Most importantly, 1,500 trillion wasn’t a fully calculated figure yet.

“That was an official request received at the government level. This time I’m not deciding independently. And this matter will likely be handled by the next chairman. I will now withdraw from all National Pension affairs.”

It was difficult to keep attacking someone who says they’re withdrawing.

After a few more questions were exchanged, the hearing concluded.

“The cameras are off?”

“Yes. The broadcast has ended.”

At those words, the lawmakers who had been attacking him just moments ago approached.

“Chairman. You’ve worked hard all this time. I know I questioned you strictly, but you understand, right? It couldn’t be helped.”

“Ah, yes.”

“Chairman. You made a great decision for this country. I express gratitude on behalf of the citizens.”

“Thanks to you, it feels like a huge burden has been lifted. Though the method was wrong, our Republic of Korea’s future generations will remember the Chairman’s achievements for a long time.”

Just moments ago they were tearing into him like they’d kill him.

Indeed, this is why they say politicians are different when cameras are on versus off.

“Yes. Thank you all.”

But receiving such thanks didn’t improve Chairman Choi’s situation.

He stepped down from the chairmanship, and his public career spanning decades ended at once.

At least the fortunate thing was the government let slide what could have been harsher punishment for overstepping authority.

“……”

After the hearing ended, the chairman passed through the reporters camped out and returned to his office, sitting blankly.

Ah. This isn’t the time for this.

Since it’s no longer his workplace, he needs to leave here quickly.

So the next chairman can come in.

“Chairman……”

“Chairman, you say. I’m just an ordinary old man now. No wait. Now I’m a civil petitioner. Haha.”

“……”

Even tossing out a joke didn’t dispel the solemn atmosphere of the employees gathered for him.

“Everyone raise your heads. The fault was mine alone. So there’s no need for sorry expressions. Everyone here opposed it, but I pushed ahead. So when I leave, send me off with smiles. This is the last time seeing each other like this, isn’t it?”

Only then did the employees one by one show smiles on their faces.

After exchanging final greetings with the employees, the chairman left the organization.

“……”

His heart felt restless.

The National Pension achieved tremendous returns, and future generations no longer need to worry, but the chairman himself resigned bearing all responsibility.

But he has no regrets.

It was something someone absolutely had to do, and if sacrifice was needed for that, it was something he could fully accept.

However, honestly he felt lost about what to do now.

Because before this incident, he hadn’t once thought about a dishonorable retirement.

“Chairman.”

Then at a voice behind him, he turned his head.

“Ah, no. Pr-President Jeong?”

Someone he hadn’t expected stood behind him.

“Would you like to get in the car together?”

“Pardon? Ah…… Yes.”

Why did this person come all the way here?

He hadn’t seen him often, but every time he occasionally met him like this, he absolutely couldn’t read what kind of person Jeong Jin-ho was.

His face clearly looks like he’s smiling kindly, but there’s something pressing down heavily—how should he put it? He gives off that strange atmosphere that words can’t describe, making him always nervous.

“I watched the hearing. It hurt my heart just watching.”

“No. It really was my fault.”

“That’s not true. It must have been such a difficult decision, and I’m grateful you trusted me while staking your entire career.”

Then President Jeong Jin-ho handed over a document.

“This is……”

“We recently established Gwangwoon Asset Management, and coincidentally there’s an advisor position open. I judge it’s a very suitable position for someone with the Chairman’s experience and work ability, so I’m making this offer.”

“Pardon?”

What’s most important in such a contract?

It’s the salary.

And seeing the salary amount written there, Choi Hyun-tae’s eyes gradually widened.

“Y-you’re really offering this to me?”

Eventually even his hands trembled.

“Yes. You absolutely don’t need to feel burdened about accepting. I’m not offering this with any ulterior motive. Please just think of it as my small gift for the Chairman who sacrificed for the National Pension and the future generations of Korea. You won’t need to come to the company and be stressed with work either.”

After the hearing, he had received many words of comfort.

But that was the extent of it.

No one stepped forward to provide direct help.

Because Choi Hyun-tae was no longer chairman.

He had fallen to just ordinary citizen #1 Choi Hyun-tae.

Yet it seems the world isn’t that harsh after all.

“I’m not sure if I can accept something this generous……”

“You’re more than qualified. Because you are a hero of this country, Chairman.”

“……”

A second life following a dishonorable retirement.

Am I getting old?

For some reason, water was gathering at the corners of his eyes.

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

Following the KW Exchange, I also took the representative position at this Gwangwoon Asset Management.

But there wasn’t anything particularly I needed to handle personally.

Normally asset management companies gather ordinary people’s money to create funds, but our asset management company primarily creates funds matching the characteristics of the National Pension.

In other words, it’s not a company ordinary people can access yet.

“Chairman Choi? He accepted?”

“Yes. He finished signing the contract last time and continues coming to work. Even though I told him he doesn’t need to come every day, he works diligently.”

He’s no longer chairman but has become an advisor at our Gwangwoon Asset Management.

Since we ended up taking on all the National Pension’s money, and since Advisor Choi worked there for a long time, I also scouted him thinking it would be comfortable for him to talk with those people.

But I didn’t give that position expecting any performance.

I just prepared a small gift because it kept weighing on me that he was leaving alone and lonely bearing all responsibility.

“Right. Good job. Advisor Choi, he’s still young at that age. He should work more. And for someone who worked their whole life going up to that position, suddenly telling them to do nothing is just as hard.”

“Yes. For now, since our asset management company will only handle National Pension money, he understands that system better than anyone.”

“Then how did you decide to operate it?”

“I’ll decide the overall investment flow, and the Vice President said he’ll handle the other secondary things.”

Just like at Gwangwoon Securities now, when I set the overall investment direction, the Vice President takes care of the rest.

“Right. Anyway, thankfully things turned out well. I was really worried because this corona was serious. Is vaccine production going well?”

“Yes. Starting next month, vaccines will be distributed first to our country and Britain, and a few days later they’ll be spread to all countries we contracted with. We’ve already prepared all production lines and distribution routes.”

Vaccines are medicine that goes into people’s bodies.

Because of that, testing has to be conducted very strictly.

But governments around the world, alarmed at the speed of the pandemic spreading, eased all regulations to distribute vaccines as fast as possible.

“Right. That turned out well too. Then Du-young, what about you?”

“Don’t worry about shipping, Chairman. Everything is proceeding very smoothly. We’re getting back the companies that were taken from us by the EU one by one at dirt cheap prices. Of course… there is a shipping company in the Middle East recently rising with the help of sovereign wealth funds and expanding its power, but we’ll work hard to reclaim world shipping dominance.”

Then CEO Kim Du-young turned his head toward me.

“Oh right. By the way, President Jeong. Did you hear the oil news this time?”

“Ah, yes. It’s because oil prices got smashed due to corona, right?”

Oil prices had originally been approaching 60 dollars.

But as corona started becoming a pandemic, that price dropped to 40 dollars and is now looking at 30 dollars.

All shipping and planes stopped due to economic contraction, and even urban vehicles stopped, so crude oil started overflowing.

“Because of that, Russia and Saudi Arabia are currently proceeding with a production cut agreement. They’ll probably reach an amicable agreement. Then the main opinion is that oil prices will hit 39 dollars now and rebound again.”

With oil prices dropping 50%, Russia and Saudi Arabia, unable to take any more losses, seemed about to conclude a production cut agreement.

If things wrap up well as everyone expects, oil prices will rise again.

“You’re suggesting we buy some oil before that?”

“Yeah. Buy cheap and use it over time. This is a report from our side. Just take a rough look.”

There didn’t seem to be a need to look closely.

The production cut agreement between Russia and Saudi Arabia will definitely happen, and then prices will rise.

If we buy some oil before that to reduce shipping transportation costs……

“!?”

But right at that moment.

As soon as I looked at the report, an intense thrill swept through my entire body, and some vision unfolded before my eyes like a movie.

Oil drums piled up like mountains.

Because there were so many, even people throwing drums into the sea.

A scene that became hell not because oil was scarce, but because there was too much.

“……”

“President Jeong?”

I came to my senses and blinked.

My eyes felt gritty.

“Are you okay?”

“Ah, yes.”

What was that vision just now……

“CEO Kim.”

“Yes?”

“Could you look into storage facilities where we can purchase and store large quantities of crude oil? The more the better. Buy them all.”

“What? S-suddenly?”

My intuition clearly showed me through the vision.

Oil piled up like mountains.

And people throwing it away.

What does that mean?

It meant a world was coming where they wouldn’t buy oil even if you paid them.

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

“Ranking reversal?”

“Yes. Gwangwoon has now become the largest asset management company.”

Chairman Kang Seong-ho received an interesting report.

Isn’t asset management something Kangsung Group is also running?

They always fought for 1st and 2nd place with KS, but Gwangwoon, the late entrant, took 1st place as soon as it appeared.

And at that, by handling all assets the National Pension manages.

“Our asset management company’s original goal was managing 1,000 trillion, but with Gwangwoon taking all 1,500 trillion of the National Pension, they became the unrivaled 1st place.”

“Isn’t the National Pension in an uproar right now because of this incident?”

“Yes. With the recent hearing, Chairman Choi Hyun-tae became a complete superstar. Shorting with citizens’ money is clearly wrong, but the results were good, weren’t they? They grew assets to a whopping 1,500 trillion. And future generations don’t need to worry anymore.”

Looking at it again, it was a breathtaking feat.

The National Pension is Pandora’s box that all politicians avoid.

Because opening it wrong ends your political life at once.

So they kept pushing it to the next generation, pushing and pushing until it reached this point, but they solved it in one shot.

With the crazy act of 700 trillion won short selling.

“But after Chairman Choi resigned and stepped down, he immediately joined Gwangwoon Asset Management as an advisor.”

“What? Wait. Then this……”

“Yes. Chairman Choi was Gwangwoon’s person from the start. That’s exactly why he suddenly shorted 700 trillion. He was their person from the beginning.”

So that was it.

Of course. There’s no way Gwangwoon would throw him an advisor position just out of kindness, to take care of that man.

It was clear they threw him a promised position because he was their person from the start.

“No other talk coming out?”

“Yes. Because the results are too good. The National Pension’s lifespan that was supposed to be depleted by 2050 has been greatly extended, hasn’t it? Naturally no one can say anything negative. Moreover, America isn’t saying anything bad about the National Pension at all right now.”

The funniest thing was Trent’s reaction.

He didn’t know what the original purpose was, but as the National Pension completely revived the US market, he even openly praised the National Pension.

“Wasn’t America originally sharpening their knives the most?”

“We thought so too, but… seeing the current American public opinion and how even the White House is expressing gratitude for the National Pension’s determination and hard work, maybe the conspiracy theory circulating now is correct.”

“Conspiracy theory?”

“Haven’t you said many times how strange it was, Chairman? How could Korea’s National Pension intervene in the US market to that extent?”

Kang Seong-ho also found that strangest.

Trent is a figure very sensitive to foreign capital.

That senile old man thinks America becomes great again only by indiscriminately raising tariffs and blocking foreign capital to boost only domestic production.

Such a person suddenly injected the National Pension into the US market.

“On the surface, it looked like all the National Pension’s money would be incinerated, but on the contrary, as the US market recovered, they made money. Unlike when bailout funds were first poured in.”

“So that’s why talk is going around?”

“Yes. Trent who hates foreign capital so much used the large-scale foreign capital called National Pension and Gwangwoon, and thanks to that, those two places made a fortune. Criticism of the National Pension and Gwangwoon for shorting 700 trillion completely disappeared from this incident. Trent practically came forward himself and laundered them. And they made money too.”

At this level, it would be strange if conspiracy theories didn’t come out.

“Wait. Then what. If that’s really true, then Gwangwoon, no. President Jeong……”

And Kang Seong-ho could quickly grasp what that conspiracy theory meant.

“Is on the same team as the US President?!”