Chapter 55

===================

Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

===================

“What? S-suddenly?”

“I’m not just saying this casually, I’m talking seriously. You’ve been taking our company shares as incentives since last time.”

As I earned money in the trillion units, my incentives also grew together.

Earning was good, but one problem arose from there.

To receive incentives, I had to subtract the amount I’m currently investing.

With already many places to spend money and needing to increase capital even more, I didn’t want to reduce investment funds to give my incentives.

So we agreed to receive a mix of incentives and company shares.

“But you earn so fast. So I was thinking of making an affiliate. I mean an investment company, not a securities firm. But thinking carefully, I wondered if there’s really a need for that. What’s the point of making an investment company? Even if you take shares in a new affiliate, ultimately the core is this Gwangwoon Securities.”

“I’m fine even if you give me affiliate stocks.”

“I feel uncomfortable. It seems like I’m generously making an affiliate and patching things up with shares there.”

Seems hyung-nim was bothered by that.

Though I don’t mind at all.

“But suddenly becoming president is a bit.. If I sit there, what will you do, hyung-nim?”

“Me? I’ll enjoy retirement life playing games I couldn’t play all this time. Uhaha!”

Hyung-nim burst into loud laughter.

But I know.

That’s not his true feelings.

Isn’t he someone who truly loves the work he does?

“I’m joking. I don’t mean to give you the position right away. Wouldn’t it be better if someone still acts as a breakwater for you?”

Department head of one department.

President of one company.

The weight is different.

Until now, hyung-nim became the face of Gwangwoon Securities and went up to all official occasions to act as a shield.

But the moment hyung-nim steps down from the president position, if something like a shareholders’ meeting needs to happen again like last time, then I have to go out.

“Becoming a company’s leader means that much more responsibility increases. In other words, if something happens to the securities firm, the leader there must take responsibility. Even in our guild, when a guild member causes trouble, I as guild leader post an apology, right?”

That was the role of a person holding the position of ‘leader’ of a group.

Shouldering all responsibility and operating the group.

Of course, many people want to shirk responsibility and only play king, which is the problem.

Hyung-nim hated that most.

“Probably asking you to play that role now would be too burdensome for you.”

The reason I can invest comfortably is thanks to hyung-nim.

Saying he’ll make sure sparks don’t fly to me no matter what happens, always saying he’ll take responsibility himself, how could I not feel at ease?

“But Jin-ho. Everyone has their capacity. I’m someone with capacity that stops at mid-sized securities firm president, but you’re not. Surely you’ll become someone who makes a big mark in financial history. You already are now. That’s why you can’t remain just a department head forever.”

“Come on. Hyung-nim is such an amazing person.”

“No. I also once had big dreams and even established a group, but I felt painfully how small my capacity is. Especially Jin-ho, watching you I’m realizing even more. People destined for greatness are indeed different from the start.”

In the guild too.

And in this securities firm now too.

Hyung-nim is like a wall to me.

But that wall was about to disappear.

“If you keep investing and increasing profits, you’ll soon surpass the shares I hold. So not right now, but be mentally prepared. The executives all already agreed. Even if you suddenly sit in the president’s seat, there’s no one who’d dare oppose. When I judge the right time has come, I’ll hand it over immediately.”

Seems hyung-nim has made up his mind.

Now I have to operate the securities firm without hyung-nim.

Already my heart feels heavy, like one side is empty.

“So you’re really going to completely let go of this work?”

“I told you earlier. I’ll enjoy retired life. I earned plenty of money thanks to you, so I should spend some, right? I’ll play carefree while watching how much our Jin-ho grows. Huhu.”

“From what you’re saying, seems you’re already making concrete plans?”

“Yeah. After handing over the position to you, I’m thinking of spending some time overseas.”

He only went abroad for business trips.

He said he’s hardly traveled abroad for tourism purposes.

“Now I should travel leisurely. Try staying long-term and experiencing foreign cultures.”

“Where are you thinking?”

“Singapore. Isn’t it called a dream country for people with money?”

Singapore, country of wealth, country of finance.

Taxes, financial infrastructure, living environment, business, luxury residence options for high-net-worth individuals, and so on. Singapore was so serious about gathering rich people that the government actively stepped up.

If you just have money, it’s called a country rich people dream of because you can enjoy truly many benefits.

“..?”

But why is this?

As soon as I heard the name Singapore, my body trembled slightly.

“What’s wrong?”

“Ah. Nothing. Just feeling a bit sad that hyung-nim is really seriously deciding to leave.”

“Don’t worry. Just because I’m abroad doesn’t mean I’ll neglect gaming. Since you’re busy, shouldn’t I manage the guild well?”

“I still don’t want to send you away, hyung-nim..”

“Sorry, but there’s no excuse to stop me, right? Hehe.”

If hyung-nim’s not at the company, I think I’ll feel really empty.

“If there’s an excuse, you’ll stay?”

“I wonder. Would there be such a thing?”

Still, there was no excuse to forcibly hold onto someone trying to cleanly hand over shares and even the president position without any greed.

Just as he wishes.

To let him comfortably enjoy retired life.

Letting him go comfortably saying don’t worry about anything would be right.

‘But.. Why do I get this feeling from Singapore?’

***

There’s a saying to leave when applause is loudest.

President Hwang felt now was exactly that right time.

Jin-ho is continuously growing, increasing capital with astonishing investment ability.

No matter how actively the company supports him, the position of department head inevitably has limits.

‘Plus Jin-ho has the capacity to become the world’s greatest investor.’

So he was trying to create an opportunity to jump even higher once more.

Honestly, if he wanted to be greedy, it was entirely possible.

‘I could just give him one affiliate and tell him to only take shares there..’

Probably if it were someone else, most would’ve chosen that method.

But Hwang Dae-woon couldn’t do that.

Because he can’t exploit his most cherished younger brother that way.

And when one era goes, a new era comes.

So stagnant water doesn’t rot, the time has come to vacate the position.

‘So let’s stay just until then.’

For Jin-ho who’s still growing, until he fully spreads his wings and flies even higher.

Staying in this position and blocking the storms.

***

OPEC achieved their will.

Oil prices finally reached $60.

Judging that was the peak, my intuition immediately reacted and we liquidated positions without delay.

The magic of 2 trillion won instantly becoming 3 trillion won.

Since the amount was so large, it was truly regrettable we couldn’t use leverage.

“Department Head. Here’s the report. About Singapore.”

After having drinks with hyung-nim yesterday, I couldn’t shake that feeling so I asked the research team.

Because hyung-nim was operating the research team 24 hours so they could immediately collect and organize materials whenever my request came.

“Is there anything special?”

“Doesn’t seem to be anything unusual.”

Singapore is a city of trade.

It has the world’s most active port, and the trade industry is the main focus.

For that reason, banks in Singapore apparently have the most money invested in maritime plants.

They give many loans and also hold large amounts of corporate bonds from those companies.

Especially they hold bonds from Geumwoo Shipbuilding & Marine, which boasts the second-largest scale in our country.

“Geumwoo has a lot of crisis rumors lately, right? All shipbuilding business is like that. Even Daegwang is struggling now. I heard Geumwoo Shipbuilding can’t get domestic loans.”

Since they can’t get domestic loans, did they turn to overseas?

Geumwoo Shipbuilding also seemed to be receiving loans here.

“..!”

That was exactly it.

It felt like a hook catching right there.

“Assistant Manager. Could you look into Geumwoo Shipbuilding? How many bonds are spread out here too?”

“Yes. I’ll look into it right away. Oh! And Gwangwoon Shipping side says they want to seek advice from Department Head.”

These days whenever anything happens, President Kim Du-yeong sends official documents asking for my opinion.

“This time Gwangwoon Shipping really hit a jackpot. So capital keeps accumulating. Where would be good to spend this..”

Actually now Gwangwoon Shipping has many places to spend money.

Many places that need funds injected to fix things that were creaking since Hanjong times.

Above all, since we can’t handle the currently pouring contracts, there were more than one or two places to inject money.

[Investment?]

So I wrote that word in my notebook and waited, but no feeling.

I wrote down several other important matters, but it was the same.

[Holding?]

“!”

The feeling hit right there.

No way. Really telling me not to spend it?

When there are this many places to spend?

“..For now tell them to hold it without spending anywhere.”

***

Jeong Jin-ho.

For Kim Du-yeong, Jeong Jin-ho’s words were exactly like heaven’s will.

You might curse calling it a cult, but if you experienced the miracle Jeong Jin-ho caused directly, anyone would inevitably become like this.

Why would Gwangwoon Securities’ rule be to unconditionally follow Department Head Jeong Jin-ho’s will?

“Oh my, President Kim. Sorry. Did I come late?”

“No. Because of Geumwoo Shipbuilding & Marine, right?”

“Right. How did those bastards manipulate for 3 years? Even the FSS that couldn’t catch it is absurd.”

A major incident burst at Geumwoo Shipbuilding & Marine, which already had crisis rumors.

It was revealed that management manipulated accounting fraud and deceived for a whopping 3 years.

“The scale is 5 trillion won alone. Crazy bastards. If this goes to trial, minimum 10 years.”

“Fortunately Gwangwoon Securities side didn’t hold any stocks.”

“Yeah. Since shipbuilding business got difficult, I sold everything before.”

Geumwoo Shipbuilding with market cap reaching 1.6 trillion won.

However, after that incident burst, stock prices that were already smashed were trying to drill underground.

“Singapore is already in chaos, and this incident will shake it greatly again.”

“Huh? Why suddenly Singapore?”

“Don’t you know? Singapore banks’ main investment targets are maritime plants.”

Singapore, maritime logistics hub.

Being a region playing the role of maximum hub, banks there mainly give loans and invest in maritime plants.

“The problem is this time our Gwangwoon Shipping swept all the work orders, right? Thanks to that, other shipping companies’ work dried up completely.”

“Ah. I heard. That contracts piled up tremendously.”

“Yes. Piled up unmanageably, so it’s a big problem. We should immediately inject money to expand scale, but Department Head Jeong said not to spend it and hold it.”

“Jin-ho did? Even though it’s urgent now?”

“Yes. I wondered why, but.. Now I understand. He had thoughts about everything.”

Hwang Dae-woon tilted his head.

“What do you mean?”

“Thanks to us sweeping work orders, there are now several overseas maritime companies on verge of bankruptcy. Not to mention China side. If they just hold out, they could barely breathe, but now Singapore banks are processing bad debts or not extending loan periods.”

“Suddenly? Don’t they usually do it?”

“Yes. But Singapore banks now have reasons they can’t. Because if they don’t quickly repay loans now, there’ll be a bank run situation.”

Bank run.

Meaning everyone rushing to withdraw money from banks.

“I’ve been rolling in this field for quite a while. So I roughly know how this field works. Singapore banks usually put money in oil for risk management while spreading money on maritime plants.”

The futures market is often used by individuals for pure speculation, but large financial companies like banks use it not for speculation but for risk management.

Exactly oil was the hedge Singapore banks mainly used.

“Seems they predicted oil prices would fall and hit massive shorts. That would’ve been the natural course. At that time everyone predicted oil prices would fall.”

“Then they lost tremendously this time?”

“Yes. Though we can’t know exactly how much they lost, since banks united together and caught leverage, the damage is certainly considerable.”

Only then did he understand why bank runs were happening.

Singapore is a world-famous financial nation.

So rumors that banks suffered massive losses must’ve spread quickly.

“The banks won’t close, right?”

“That would be a disaster. Their government will somehow block it. Because it’ll really be chaos if banks collapse. That’s why government, banks, everyone is desperately trying to scrape money together. Selling all bonds they hold at bargain prices, pressuring loan repayments.”

Meaning that domino is now spreading to numerous maritime companies.

“But recently Department Head Jeong is scraping together Geumwoo Shipbuilding bonds.”

“What? A company that’s completely collapsing?”

“Yes. Also at bargain prices. Banks are urgently disposing. Honestly since the company will default, they’re useless bonds. But if, just if, we get Geumwoo Shipbuilding in our hands?”

President Hwang Dae-woon blinked his eyes several times.

“Then.. All debts to repay later disappear at bargain prices?”

“Yes. And Department Head Jeong told me not to spend money and save it, didn’t he? Seems President, Department Head Jeong is drawing a tremendous blueprint now.”

“Blueprint?”

“Maritime companies are all scraping the ground because of Gwangwoon Shipping now. They have to sell everything they have to repay debts. Stock prices are also becoming almost worthless paper.”

In other words, since they can’t meet demand, for Gwangwoon Shipping that needs broader infrastructure, this was no different from big sale shopping.

Aren’t they already receiving fees and passing work to other companies because there’s too much work? But if they select and acquire only helpful companies among maritime companies currently dropped to lowest prices, they can handle all the overflowing demand.

There Hwang Dae-woon also started seeing the blueprint Kim Du-yeong mentioned.

“W-wait. Is this really the picture Jin-ho is drawing?”

“Yes. Isn’t it really amazing? I don’t know from where or since when he’s been drawing this picture, but it’s certain things are going according to Department Head Jeong Jin-ho’s will.”

However, there’s a problem.

If affiliates increase this much, they’ll be caught by financial-industrial separation law.

Because securities firms can’t have more than two affiliates.

Unlike foreign countries, in Korea by law you must disclose when acquiring affiliates and reveal all that information.

What does that mean?

“It inevitably means making a holding company and establishing Gwangwoon Group.”

Gwangwoon Group!

It was an essential step to complete this blueprint.

Jin-ho, this guy.

Last time he talked about excuses or something.

Could that be..

“Seems Department Head Jeong is trying to make you chairman from president.”