Chapter 45

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“Wow. Vacation? You, Department Head?”

“Is it that surprising?”

“Yes. You hardly even rest on weekends and only try to work. So I thought you didn’t use vacations or annual leave at all.”

Perhaps it’s natural.

I like my job.

Because nothing else stimulates my dopamine like this.

Plus the reason I don’t take separate holidays isn’t just because of that.

Didn’t I already rest plenty during my unemployed days?

“So where are you going?”

“For now, decided to go on a family trip. Thinking of going to America.”

“Oh, America. Nice.”

“Have you been there, Deputy?”

“Of course. Traveled there and toured famous investment companies too. How about you, Department Head?”

“I. It’s my first time on a plane.”

“What?!”

Hye-rin looked at me as if very amazed.

“Can this be? Seeing a plane newbie I only heard about here!”

“Plane newbie.?”

“Department Head. You know how to board planes, right? You absolutely have to take off your shoes and wear a suit!”

“Oh. Really? Thanks for the tip. Wait. Let me write it in my notes.”

Then Hye-rin panicked and stopped me.

“No. D-did you really believe it?”

“Of course I know you’re joking too.”

“Ack. You startled me.”

Ah. But you really shouldn’t take off shoes.

I really thought you had to.

Knock knock.

“Ah, yes. Come in.”

“Ahem. Department Head. Sorry for interrupting your conversation.”

“Oh my. You two talk. Oh right. Department Head. Tonight’s dinner. The usual place?”

“Sounds good.”

Though not often, whenever eating dinner with Hye-rin, there’s a place we always go.

The udon shop holding our first memories.

“..”

For some reason, Section Chief looked at Hye-rin with envious eyes then handed me a file.

“Sent from the research department. The Japan materials you requested.”

I looked through the materials.

It’s because last time talking with my sister, intense intuition struck about Japan.

“Japan insists on zero interest rates like America, and talk is even flowing about going to negative interest rates.”

Japan was maintaining zero interest rates like America.

Especially current Prime Minister Abe is implementing so-called Abenomics while presenting economic stimulus policies.

Then why does Japan have zero interest rates?

The reason is simple.

Because there’s nothing more to develop.

In our country, people somehow borrow money to buy apartments first, but people here don’t have the concept that they must buy houses even going into debt.

Also, they have no thought of taking loans while recklessly expanding business.

They just live complacently with faced situations, drifting along.

Because of this, no one borrows money, no one wants to buy houses, so interest rates are stuck, and real estate prices only keep falling.

It was completely opposite to our country.

In Korea, real estate is definitely designed to rise, but in Japan, if you buy a house, housing prices are definitely designed to fall.

Because of these problems, there’s a phenomenon of not wanting to buy real estate even more.

“Our country has social pressure that you must endlessly rise, doesn’t it? Like when you marry and have kids, after they grow a bit you must have a certain-sized apartment, or must go to a Seoul university, must go to a major corporation, etc. Compared to that, Japan is kind of. Stopped. There’s no pressure that you must rise upward.”

It was the difference in social views between Korea and Japan.

Aiming for higher and better development has positive influences, but it’s not entirely good either.

Because the stress from this high infinite competition is severe.

Korea’s suicide rate that endlessly only rises was exactly the side effect this social view creates.

“..”

I scanned through Japan’s recommended stocks in a row.

Research doesn’t recommend investing in Japan now.

Japanese companies themselves aren’t investing well in their own country right now either.

Why would the term yen carry trade have come out?

It’s borrowing yen to invest overseas, and since Japan is doing zero interest rates now, even if borrowing money, there’s almost no interest.

Using such advantages, they borrow money in Japan and scatter it in overseas investment markets.

‘Something’s not clicking just right.’

But I couldn’t forget that feeling like the entire world was shaking while talking with my sister.

While scrolling down the list looking like that.

“.?”

My gaze stopped at one place.

‘Kintetsu Group?’

Looking at that company’s information, this was a famous railway company in Japan.

A place making money in railways, real estate, and overseas investment.

You can tell just from the name.

Because translating directly to Korean, it’s “fast railway.”

“Ah. Kintetsu is famous for railways. But you know, don’t you? JT Group firmly grips Japanese railways. So they can’t make only railways their focus and spread feet in various directions. That Japan’s tallest building is also there. Abeno Harukas in Osaka.”

But why is feeling slowly rising here?

The intensity isn’t that high yet, but as I dig deeper into company information, it’s getting closer.

To use a game example, should I say it’s the feeling where as the item you’re searching for gets closer, screen effects or feedback given to users gradually grows?

I received additional information about Kintetsu Group from the research department and looked deeper.

“.!”

And finally found one part that struck my mind like a bullet.

‘Corporate bonds issued by Kintetsu Group?’

Bonds.

It’s not only nations that issue bonds.

Companies also issue bonds.

It’s for fast fundraising, and like major Korean corporations, Kintetsu was also a frequently used fund securing method.

But an intense feeling was flowing in like electric current there, stimulating me.

‘But bonds? Plus Japanese bonds have low interest rates.’

If buying corporate bonds, you receive a certain interest rate.

Usually paying amounts according to interest rates once every three months, but Japan’s interest rates weren’t that high because of ultra-low interest rates.

“..”

But why is it telling me to buy here?

Thinking so, I turned the next page.

There my gaze stopped once more.

[Kintetsu Group’s Kumamoto Project]

“So, did you find out? Who is it?”

“Seems hard to find out clearly. These guys scattered money through brokers here and there, really systematically taking positions.”

Last time, Kangsung Securities president who boasted he’d find out who dared short Kangsung Electronics had a troubled face.

“Then you can’t catch them?”

“Seems hard to catch physical evidence, but there’s circumstantial evidence.”

“Circumstantial evidence?”

“Yes. During the last Diesel Gate incident Stoomwagen caused, someone fleeced the market with exactly this method. Many speculate it’s the same force this time. Then through quarterly securities firm performance disclosed recently, one suspicious place was discovered.”

“Where is that?”

“It’s Gwangwoon Securities, Chairman. The quarterly performance they recently announced is really ridiculous. They earned tremendously. So many people are saying they’re the ones who fleeced Germany.”

Gwangwoon.

That place again?

The shameless bastards who sat and gulped down LK Tower after extorting 2 trillion won from Kangsung Group!

But not satisfied with that, now they played games with Kangsung Electronics stock price?

His head was getting a bit hot.

“But Chairman. A rumor is circulating in the market now.”

“Rumor? What rumor again?”

“Didn’t we spread information this time that insolent forces heavily took short positions on Kangsung Electronics?”

Thanks to that, hunters from all sides all flocked.

And they all got slaughtered without even swinging swords once.

“Talk is going around that our Kangsung Group joined hands with forces whose identity is unknown to intentionally set up the board to fleece hunters.”

“Wh-what?”

What nonsense is that!

“Did we deliberately burst batteries?!”

“Some say we knew batteries had problems in advance, and some people believe we really burst them deliberately. Whenever anything big bursts, conspiracy theories follow, right? Especially this time hunters lost tremendous money, so whether conspiracy theories or what, they probably wanted to criticize us.”

Hearing that, he understood again.

If Chairman Kang Seong-ho were in their position, he would’ve thought someone hit the back of our heads.

“But Kintetsu Group participated in this hunting drive.”

“Kintetsu?”

“That place that made Abeno Harukas building in Osaka.”

“Ah. There.”

Abeno Harukas in Osaka.

Japan’s tallest building reaching 300m in height alone.

Watching Kintetsu building such a big building inspired LK Group to make exactly the current LK Tower.

“Kintetsu Group is completely pushed by JT Group in railway business, so they expanded feet to real estate, hotels, and distribution, but since Japanese real estate doesn’t rise well like Korea, seems they started focusing on yen carry trade. Finding places on fire and quickly making money then pulling hands.”

“That was Kangsung Electronics this time?”

“Yes. While hunting prey together with hunters, when stock prices plunged, they urgently threw shares. Also took many losses.”

“Now I know who spread such ridiculous conspiracy theories. Cunning bastards.”

“Yes. Probably Kintetsu is also very angry.”

But he doesn’t understand what this conversation means.

Whether Kintetsu suffers damage or not, what does it matter?

“This time Gwangwoon Securities made one request to our asset management company.”

“From Gwangwoon?”

“Yes. A request to sell all short-term Kintetsu corporate bonds our asset management company holds.”

“.?”

Kangsung Group’s main income source is Kangsung Electronics.

And there’s a place making decent money.

Exactly Kangsung Asset Management.

A giant financial company rolling money reaching 200 trillion won.

Of course, all that 200 trillion won is customers’ money.

Can’t handle it carelessly, but fees coming from there alone reach hundreds of billions.

Cash cow isn’t what financial companies are called for nothing.

Asking to sell corporate bonds held in such a place.

Also Japanese corporate bonds?

“Funds each have different characteristics, and for Japanese corporate bonds, while interest rates are low so they’re safe, they’re not very attractive investments. So our country’s people don’t really prefer them either.”

“They don’t sell well either?”

“Sold well before, but since Abenomics continues, they don’t try to buy at all. Hearing from fund managers there, they were trying to sell bit by bit anyway.”

It meant toxic inventory.

But Gwangwoon Securities is trying to take all that toxic inventory.

If it were another securities firm, they’d tell them to sell quickly, but the problem was that company is Gwangwoon.

“How many short-term corporate bonds did Kintetsu issue?”

“5 trillion won.”

“More than expected.”

“Yes. They spent tremendous money building the tower, and above all, this time there’s a major project proceeding in Kumamoto region, so they probably kept issuing. Recently yen rose as money flocked to safe assets, so Japanese companies doing yen carry trade took quite a hit. They probably needed much funds in various ways.”

Yen carry trade is a very good investment technique, but conversely, if yen rises, it’s a loss.

With these various times overlapping, Kintetsu Group could be financially difficult, but it’s not to the degree of drying up like LK Group.

“Kintetsu isn’t that financially difficult. If this major project completes well, many predict it’ll leap up once more.”

But Gwangwoon Securities was scraping together short-term bonds.

Why exactly?

Could they be viewing that Kintetsu won’t be able to repay those bonds?

That can’t be.

If funds are insufficient, Kintetsu can issue other bonds again to gather funds.

“For now, don’t hand over bonds but try holding briefly.”

“Ah, yes.”

“And. Can you set up a meeting with Gwangwoon Securities president?”

“You’ll meet them directly, Chairman?”

“Yes. Please set up an appointment.”

Borrowing his younger sister’s words, President Hwang is a motherfucker with a warm impression.

Makes sense since getting extorted 2 trillion won.

But more than that, the next words remained most memorable.

That the department head stuck right beside President Hwang is most suspicious.

“No. Will you really be okay?”

“You said it wasn’t meeting just the two alone.”

“That’s true but.”

Kangsung Electronics set up a meeting appointment.

Also none other than Kangsung Group’s chairman at that.

Then should just say have a good trip, but during conversation with hyung-nim, a strong feeling struck.

An intuition that somehow shouldn’t send hyung-nim alone.

In the end, I headed to the meeting place together with hyung-nim.

“Won’t they kick me out saying a mere department head came along?”

“Don’t know. But if that’s the case, I’ll come out together too.”

“Wow. Guild leader’s loyalty as expected.”

“Hehe. Right. Came together, can’t enter alone. What’s our guild motto? Whether living, live together; whether dying, die together.”

“Wasn’t it a family-like guild?”

“That’s first. This is second.”

Like that, hyung-nim and I entered a Korean restaurant.

Whether they rented the entire restaurant, only Chairman Kang sat at the table.

“Nice to meet you for the first time. I’m called President Hwang Dae-woon of Gwangwoon Securities.”

“Department Head Jeong Jin-ho.”

“Ah, yes. I’m Kang Seong-ho.”

Though his face was friendly, only his eyes were sharp.

He was looking at me particularly closely.

“So this is that person.”

“Pardon?”

“Heard from my younger sister. That there’s a department head stuck right beside President Hwang. Most suspicious?”

“Haha. Please understand. All of our Gwangwoon Securities’ major matters get decided after hearing this person’s advice.”

Then Chairman Kang replied with a laugh.

“Then this person’s decision must’ve been fleecing our electronics side this time too.”

“..”

Hyung-nim coughed.

“Ahem. What do you mean.”

“You don’t need to hide. I came knowing everything. Ah. Sit first. Ordered light alcohol, is one glass okay?”

Chairman Kang smiled and poured alcohol for me, but I thought maybe I came for nothing.

Suddenly feeling tense, my face and body all seem to stiffen.

“Not trying to blame you. But after already extorting 2 trillion won from us, to pull such things again. You’re quite mean.”

“Well. I think it was good cooperation. Thanks to Kangsung side diligently spreading rumors trying to stomp us to death, all the hunters gathered. Haha.”

But hyung-nim wasn’t backing down and was parrying well.

“Cooperation? We gained nothing. Rather getting criticized that we deliberately set up the board and backstabbed.”

“I know everything. That you pretty profited by disposing holdings when hunters were madly pumping the stock price.”

“That’s a dangerous statement. What if the Financial Supervisory Service hears?”

“Oh my. Sorry. I said something for nothing. Hehe. But fortunately, stock price is recovering, isn’t it? Thanks to the Chairman’s fast decision.”

A subtle nerve war was going back and forth.

Caught between them, I quietly sipped alcohol.

“You said Jeong Jin-ho Department Head?”

“Ah, yes.”

I almost choked on the alcohol I was drinking.

“Just how do you invest so well? If President here trusts you extremely, your skills must be tremendous, right, President?”

“Ah. Two words would hurt the mouth. Probably no one can follow our Jin-ho’s investment skills, not only domestically but overseas too.”

“This earnings surprise was also tremendous. Just hearing your words, it’s all thanks to this person. What’s the secret?”

Secret.

There wasn’t any complex technical analysis or such.

“Well. Hard to tell you.”

“What, you have your own algorithm? Then let me ask something else. Does Department Head Jeong want to destroy all our country’s companies?”

Wanting to destroy our country’s companies?

Absolutely not.

“No. I actually want our country’s companies to do best. More than any other country’s companies.”

“Such a person. No.”

His expression had much to say, but he didn’t question more about that.

“Actually, I wanted to ask most today. What’s going on with Kintetsu Group bonds?”

As expected, he knew about the request made to Kangsung Asset Management.

“That’s.”

“This is also hard to talk about? You know our asset management holds those bonds, right? They’ll hand over only if I make the call.”

“Then I’ll try getting them elsewhere.”

“Haha. Audacious person. Fine. I’ll coolly hand that over. Instead, answer just one thing. If holding those bonds, is it profitable?”

I hesitated briefly.

I also don’t know why these bonds are good.

But my intuition is telling me to buy these bonds.

“Yes.”

That’s the only answer I could give.

Maybe he won’t give them?

“I understand well. I’ll tell them to hand over bonds immediately as requested. Ah. Just talking, all the food will get cold. Shall we eat first?”

Fortunately, the bonds seem like they’ll pass to us safely.

The problem is after that, whether Chairman Kang or hyung-nim, both are just eating without a single word, each seemingly having many thoughts.

Really might get indigestion.

“..”

After sending off the two people, Chairman Kang fell into thought.

Like his sister said, President Hwang really has a warm-looking face.

But whom he saw most impressively was exactly Jeong Jin-ho.

President Hwang tried hard to act cheerful not to show his wavering heart, but opposite to him, Jeong Jin-ho was poker-faced throughout.

Couldn’t even grasp what thoughts he’s thinking, what emotions he’s feeling.

‘Plus he very shamelessly said he hopes our country’s companies do well.’

Such a guy placed a major short on Kangsung Electronics?

But looking at results, Kangsung Electronics also profited.

Because as President Hwang said, they sold some shares when prices rose high to secure funds.

“Chairman. We’ll immediately enter work the moment you give orders.”

Actually, Chairman Kang met President Hwang today to see exactly what bastard dared play games with Kangsung Group.

And after the meeting ended, he planned to properly stomp Gwangwoon Securities.

From political circles to media already.

The setting was all done.

Because when Kangsung steps up, stomping one securities firm wasn’t difficult.

But after actually meeting, thoughts changed a bit.

“For now. Wait on that.”

That gaze isn’t forgotten.

Exactly Jeong Jin-ho’s eyes shown the moment he answered “Yes.”

If conviction is that degree, there’s definitely something.

Even this guy is the crazy bastard who grasped problems and placed major shorts before Kangsung Electronics noticed battery problems.

From there, rather than anger, somehow felt belief.

“After handing over all bonds to Gwangwoon, find out which funds hold more Kintetsu bonds. And tell them to obtain as much as possible. Also bring all information about Kintetsu Group.”

Suddenly such thoughts came.

If the opponent has astounding analytical ability to predict the future.

Should such a person really be kept as an enemy?