Chapter 39

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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Art and romance.

The center of culture.

Paris, France.

There’s a belief that a country with France’s level of national prestige should naturally be safe from terrorism. Actually, by national security standards, wasn’t France in a very high position?

Because of that, this terrorism incident shocked the entire world.

A fear was created that any country could now become terrorism’s target.

The words “a second 9/11” weren’t coming out for no reason.

“Wh-what is all this?”

But President Hwang Dae-woon’s drowsiness from gaming late until yesterday completely disappeared at other news rather than France terrorism.

“We can slam margin calls?”

“France tourism essentially ended due to France terrorism, but the problem is LK tried to open a hotel in France this time. They promoted it massively and planned to enter the entire European market using this as a starting point.”

“But terrorism happened to burst right then?”

“Yes. France already closed borders, so companies living off France tourism are suffering tremendous losses now. Stock prices also dropped tremendously.”

Accor Group, France’s largest hotel company, also took a big hit from this situation.

If even Accor is like that immediately, LK that just started taking its first steps into overseas expansion couldn’t escape these aftereffects.

“Starting with France, England, Germany, Spain, Belgium, etc. They were preparing to open hotels in various countries, but due to this terrorism situation, all of Europe now temporarily stopped the tourism industry. For LK, it’s not just fire falling on their feet but a meteorite falling on their head.”

IS that attacked France officially stated their terrorism isn’t over here and declared they’ll show more terrible Allah’s judgment, so all of Europe is now on emergency alert.

They temporarily blocked foreigner entry to prevent terrorists who might enter.

LK was preparing sequential hotel openings in other countries starting with France.

But due to this situation, they currently can’t open even in other countries where hotels are almost completed.

“But as the saying goes, misfortunes never come singly, another problem burst.”

“What else?”

“During LK’s management rights battle this time, didn’t their roots being in Japan get revealed externally? Naturally thinking it’s a native Korean company, then it being revealed they’re controlled by a Japanese holding company, people’s disappointment was big.”

“So?”

“Originally LK Department Store always won duty-free shop bids, but with poor public opinion, the government excluded them for the first time. Duty-free shop income was quite significant, but losing even that will be tremendous damage.”

When you say LK, you think duty-free shops.

Yet even that got blocked?

But the government had no choice but to be conscious of public opinion.

LK’s duty-free shop elimination was a painful matter.

“The duty-free business they always did suddenly got blocked. They went all-in with money overseas trying to create a world-class hotel brand, but even that stopped due to terrorism. According to rumors circulating in the industry, they can’t even cover funds they need to pay out immediately.”

In other words, LK Group’s debt will likely increase rapidly, which leads to credit rating decline, and then.

“We can charge in?”

“Yes. With the acceleration clause, we can definitely cause havoc once.”

Meaning Gwangwoon Securities can pressure LK Group for debt repayment.

“Not only that. With payment in kind plus call option clauses, if LK really can’t resolve funds, LK Tower could pass to us.”

“Is that legally possible? Though we slammed conditions favorable to us when contracting, wasn’t there a limit?”

Just making a collateral contract doesn’t make LK Tower Gwangwoon Securities’ property.

Isn’t it tremendous property with the title of Korea’s best building?

Swallowing this for 900 billion was naturally impossible.

“The legal team made it as favorable to us as possible per the president’s instructions, which are exactly the preemptive acquisition rights and call option clauses. Especially with payment in kind, if you slash the price too much, it can become a legal problem. However, if you set a certain percentage of collateral price as acquisition cost, there’s no legal problem.”

At those words, President Hwang Dae-woon gulped dry saliva.

“How much did we set it at?”

“2 trillion won.”

2 trillion.

The legal team designated the minimum price that has no legal problems while calculating value at the time of contract.

Naturally the legal team probably didn’t think Gwangwoon would actually eat LK Tower either. Just making conditions as favorable to Gwangwoon Securities as possible while setting minimum price, that price came out.

“It’s our company, but we really contracted like thugs.”

“If they didn’t like it, they should’ve gone to banks instead of securities firms. Or begged funds. But since both didn’t work, they came to us and made such a contract.”

Or if they’d rather not bought stakes and endured to the end, LK Group would’ve naturally passed to Oh Jae-hyun’s hands when Chairman Oh Dong-young collapsed.

Unable to wait that little bit and signing caused this situation.

“LK’s European business was originally supposed to proceed later, but Chairman Oh Jae-hyun rushed the opening trying to circulate funds quickly, and this incident burst.”

There Hwang Dae-woon felt heaven’s help.

Conversely, Oh Jae-hyun would just resent how the world could be so unfair even if being unfair.

“If done well, we could eat LK Tower for 2 trillion.”

“LK will also desperately struggle not to be eaten at that price.”

Right. How much construction cost went in there, would they try to hand over LK Tower for just 2 trillion won?

But human affairs are unpredictable.

Honestly, who would’ve dared imagine the situation would come this far?

Above all, public opinion already turned away from LK Group.

Literally they became prey placed among predators.

“By the way, President.”

“Yeah?”

“Didn’t you say Department Head Jeong Jin-ho chose this collateral?”

“I did.”

“Could Department Head Jeong Jin-ho have predicted the situation this far?”

“!?”

Everyone should’ve laughed it off saying it doesn’t make sense.

“..”

But at the name Jeong Jin-ho, no one could.

“Chief Secretary. Still no news?”

“Yes. We’re persuading as much as possible but.”

Chairman Oh Jae-hyun’s lips were parched all day and his throat burned no matter how much water he drank.

“No. Are they all in their right minds? Do they really want to hand over LK Tower like this? If they just solve 900 billion, it’ll end!”

The problem was that 900 billion wasn’t an easy amount.

Someone needs to procure this 900 billion, but even private equity funds were troubled.

A dilemma arose wondering whether they could extract that much money from this company even if giving 900 billion whole.

In other words, to them this was passing the bomb.

That’s why no fund was allowing the 900 billion loan.

Just watching each other.

Wondering who will take this bomb.

“Above all, our LK Department Store’s duty-free shop elimination seems to be the main factor. Because it means the government is also turning away from us.”

In America lobbying is legal, but not in our country.

But it’s illegal on the surface; behind the scenes, as everyone knows, politicians and businessmen work harmoniously together.

This was large corporations’ survival method.

Making laws as favorable to themselves as possible and growing companies with government help.

But that connection with political circles was severed.

Because public opinion completely turned away from LK.

The moment a politician appears wrongly holding hands with LK Group, they’ll receive citizens’ criticism.

Also Chairman Oh Dong-young who held that connection collapsing played a big part.

“So funds are now taking action to pull out one by one. Because public opinion toward LK is so bad.”

Not only a company rooted in Japan, but also being branded with the unfilial act of betraying father was big.

Honestly such public opinion disappears on its own over time.

The problem was insufficient funds to endure until then.

“Keep persuading. Though France is blocked right away, England and Germany openings are also ahead soon, and Belgium, Spain will also open sequentially. Border closure isn’t eternal either, is it?”

“Yes. I’ll persuade as much as possible.”

“You must. Must. If those people really want to invest in our LK and siphon money, they must protect LK Tower!”

Though he urged, this anxiety won’t disappear.

If only he’d responded a bit more calmly back then.

Then he wouldn’t have signed that contract.

But if no one extends a hand and turns away like this, LK Tower will really be taken by those Gwangwoon Securities bastards.

No. To be precise, by the unidentified mastermind manipulating Gwangwoon Securities from behind.

“Really don’t lie to me.”

He must prevent that no matter what.

Though France went over water, that’s not the only place LK Group stretched its feet.

After France, quite a lot of money was also invested in England, and Germany, Spain, Belgium, etc.

If proceeding with sequential openings, they can earn money plenty.

So this isn’t the end.

Still.!

Could there be another year as terrible as this year for Europe?

“Department Head. It burst again. This time Germany followed by Belgium.”

Chain terrorism that burst starting with France.

After also bursting in Berlin market in Germany, this time terrorism occurred at Brussels Airport in Belgium.

Europe that was believed safe until now had security completely penetrated by terrorist forces.

Due to this, the entire European Union jointly temporarily closed borders and responded to terrorism, and the EU officially declared they’ll attack IS’s home bases in Syria and Iraq.

“With that statement, defense industry-related stocks are rising tremendously now.”

“Wow. Already rose 20%. Even TS where we put money as main focus surged 30%.”

“Good that we’re making money but. Should I say the heart feels a bit heavy. Above all, terrorism is too scary. How could all European advanced countries be attacked?”

War becomes opportunity for someone.

Especially for defense companies, there couldn’t be a better opportunity than this.

You can tell just seeing their stock prices surging.

Simultaneously this was also fear.

Because it proved no country under this sky is safe from terrorism.

“So I hear conspiracy theories are circulating tremendously now. Because European security got breached too futilely, wondering if defense companies helped IS.”

Various other conspiracy theories are circulating.

Like France deliberately caused terrorism to gain justification for Syria civil war participation.

Like Israel planned it to instill anti-Islam sentiment, etc.

Like with 9/11 too.

When incidents shocking enough burst, conspiracy theories always followed.

“The problem is France government is also hitting the financial industry conscious of public opinion. As France market declined overall from this situation, they’re tracking who profited by shorting in advance.”

“What. What crime did people who bet money commit?”

“They say it’s suspicion whether they assisted terrorism situations procuring IS funds. It’s essentially witch hunting.”

When such national situations occur, governments also often respond emotionally following public opinion. In that respect we were fortunate.

Every time examining France-related things, we didn’t even glance at that market due to unpleasant feelings enough to cause motion sickness.

If we’d shorted with hundreds of billions there, wouldn’t we also be in chaos now?

There was reason my intuition rejected that place.

“The real chaos is LK Group. They staked survival on European entry, but things became like this.”

“France aside. What about Germany and Belgium becoming like that too?”

“Then the only place left to lean on is England? I heard that’s where the second most money went after France.”

It’s true LK Group’s situation is turning strangely.

But that wasn’t our concern.

The legal team will handle it.

What we need to focus on now is the money spread on defense companies.

“Let’s organize the stocks we spread first.”

I examined stocks we spread here and there currently.

Most stocks were sending sell signals whenever bringing pens to them.

Though stock prices rose like crazy due to Europe’s war declaration toward IS, ultimately this too meant bubble reacting to issues.

“For now NIX seems like it’ll rise a bit more, so hold it. Let’s also watch AERO briefly. Dispose of all other stocks.”

“Yes. I’ll move immediately.”

It’d be a lie to say the heart isn’t heavy.

Though I didn’t cause terrorism, it’s true I’m making money thanks to that.

“Let’s forget such things quickly.”

If there’s opportunity, maybe I’ll donate a little next time.

I examined research materials to shake off such heavy emotions.

What research materials are focusing on now was overseas assets.

Isn’t the world economy shaking due to this terrorism incident?

“In the end, safe assets surge this time too.”

Today is also safe assets’ consecutive victories.

Due to the European Union’s war declaration, oil prices rose and gold prices soared along.

It was a natural phenomenon that inevitably follows due to anxiety called war.

Also anxiety about the European economy was growing.

Waging war means spending that much money, and especially since the EU is stepping up jointly, countries belonging to it must definitely pay contributions.

“Among them England is paying the most.”

In the EU, England pays the highest contributions.

England could be called the EU’s representative.

But England was suffering headaches from immigrant problems since before.

Natives’ opposition was more severe than expected, becoming the biggest political issue.

In such situations, terrorism occurred this time.

Sentiment toward immigrants inevitably worsens.

Plus having to pay high contributions.

Even I as an English citizen would probably be angry.

“In the end, putting money in safe assets is safest now.”

I don’t want to put money in safe assets with not much volatility.

I tried to move to the next page while confirming such comprehensive situations in reports.

But the moment I tried to turn the page.

“.?”

The hand holding the paper edge won’t move.

“Wh-why is this happening?”

Even pressing hard didn’t budge.

What? Paralysis?

Why suddenly?

Is there a problem with my body?

When a series of fears assaulted me.

My gaze stuck on the content written above that fingertip.

[England, EU Exit Scenario]