Chapter 90

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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Due to the Korea-Japan diplomatic war, companies went on high alert.

If at first they discussed how companies should overcome Korea’s uncomfortable situation of having to get unilaterally beaten by Japan, now they were dealing with exactly the opposite content.

“Japan definitely landed a punch on us, so why are they falling over?”

Japan strongly criticized Korea and came out with the weapon of semiconductor core component trade regulations. And as they wanted, its power was considerable.

The Korean government hurriedly filed international litigation claiming it violated international trade law, but it was actually a useless measure.

They thought they’d have to just take it unilaterally like that.

But the one who got completely flipped over wasn’t Korea but Japan.

“Japan was making quite a lot of profit from exports to China, and that flying away is big. But the
decisive thing is the forces. They say bear funds renowned in finance all swarmed to Japan, ready to strike.”

“Ready to strike?”

“Yes. To stab mercilessly if something that could be a trigger bursts. You know well the tendencies of those bear fund bastards, don’t you? There are no sane ones. Neither the fund managers operating them nor people putting money there. Once they start, one of the two must absolutely die.”

High risk, high return.

There are many funds pursuing high risk, high return.

But going one step further from there, exactly bear funds were very aggressive and gambling-heavy funds.

“Even if such bastards gathered, exactly how much did they gather for the Japanese government to say they’ll give up YCC?”

Japan maintained zero interest rates for a long time.

YCC is also part of that.

But the Japanese government unable to defend falling bond prices ultimately raised the white flag.

Plus the Bank of Japan governor’s emergency announcement came out saying they’d revoke YCC and raise interest rates.

“Tens of trillions of won in scale gathering is one thing, but ultimately the problem is because of the domino effect. Prices dropped due to massive short-selling, and because of that investors became scared and fell into fear. As everyone hit sell orders, this situation occurred.”

The governor made statements about raising interest rates to 3-5%, making the Japanese stock market yesterday and today chaos itself.

Actually they’re only raising interest rates by 3-5%, so you could say why make such a fuss.

“Hasn’t Japan maintained zero interest rates for a long time? So Japan has particularly many zombie companies.”

Zombie companies.

Since interest rates are almost nonexistent, it means companies barely maintaining themselves without needing to pay interest even after borrowing money.

But if interest rates suddenly rise by 5%, they must cough up all the money they only borrowed until now as interest.

Not only that.

Companies that bought houses through loans or were investing overseas also face trouble.

If it had been gradual interest rate increases, they could’ve reduced the shock.

But giving up YCC to a sudden offensive, radical interest rate increases necessarily cause economic collapse.

“Still, the Bank of Japan making this decision is because if they don’t put the brakes here, Japan’s economy shaking might not end there.”

“It was that powerful a blow?”

“Yes. The US-China trade war unintentionally attacked Japan.”

He understood why Japan ended up like that, but..

Kang Seong-ho still had one question unresolved.

“But why exactly did bear funds suddenly attack Japan? Do those bastards originally cooperate well with each other?”

“No. They don’t share investment information well and move thoroughly individualistically. But this time they all moved identically as if receiving orders.”

In other words, someone behind commanded these wild-natured beasts.

“They’re bastards moving individualistically, yet not just one or two but all those many bear funds moved per someone’s orders?”

That’s bear funds’ nature.

Managers operating those funds have rough tendencies and don’t listen to anyone, just charging with their own beliefs alone.

But somehow someone was holding the leash of those crazy bastards.

“I know well it’s hard to believe. But it’s already famous on Wall Street. That bear funds moved according to specific someone’s instructions.”

“Who is that?”

“Can’t know that far, but they say the first to take large short-selling positions was Gwangwoon.”

“..Gwangwoon?”

“Yes. As soon as information spread that Gwangwoon took positions, waiting bear funds all made exactly the same bets as Gwangwoon at once.”

Kang Seong-ho blinked.

As soon as Gwangwoon suddenly took large positions, other bear funds entered identical positions as if promising.

What could this mean?

“W-wait. So President Jeong Jin-ho moved all those bear funds?”

“Probably not all. Some must’ve averaged down. But bear fund forces that first shocked the market definitely moved per someone’s instructions for sure. And that Gwangwoon moved first means.. He’s the vanguard.”

Looking at Jeong Jin-ho’s investment history until now, it seemed like he sinisterly manipulated everything from behind, but looking closely it wasn’t like that.

Rather he had tremendous aggression, rushing first to enemy territory to plant flags.

“No wonder bear funds follow.”

The extreme aggression they pursue.

But if human, you can’t help but have fear.

So they hesitate.

But since Jeong Jin-ho first charges with conviction without hesitation, bear funds also courageously follow behind him.

“Can crazier bastards hold the leash of crazy bastards?”

But why exactly did Jeong Jin-ho do that?

The opponent isn’t a company but the mighty Japanese government.

“President Jeong Jin-ho probably also got angry. If Japan imposes semiconductor export regulations this time, semiconductor companies President Jeong Jin-ho is pushing will falter.”

“So he punished bastards who touched his territory?”

“Since the government can’t do anything for him now, I think he stepped up directly himself.”

Japan was definitely the one hit, yet Kang Seong-ho’s spine was getting chills.

He never dreamed they’d inflict such radical attacks on the Japanese government.

Even when this matter first burst, Kangsung itself didn’t consider the option of fighting against the Japanese government.

Because a company fighting against a government like Japan’s was nonsensical talk from the start.

So they only agonized over how to gently coax the Japanese government to change their minds.

But Jeong Jin-ho was different as expected. Rather than bowing and submitting, he coolly threw a punch and stuck it right in the Japanese government’s face.

“Even if I die, I won’t bow..”

It’s a feeling like strong resonance spreading deep inside his chest.

Also a feeling like something boiling up from his core.

So perhaps?

“Analyze how much damage there’ll be if Japan raises interest rates this time, and how the economic situation will change going forward, and bring all related reports.”

Kang Seong-ho also got sick of being anxious and only watching Japan’s mood.

***

“They say companies that withdrew all capital overseas are now hurriedly retrieving money. Even real estate is being released en masse in various countries.”

Japan before the bubble burst.

Very much money was released overseas.

So if you look for owners of expensive land anywhere overseas, you can see they’re all Japanese.

Why would the yen become a major currency?

Ironically, thanks to the bubble.

Before the bubble burst, as the country with second highest economic influence after America, they bought much real estate, stocks, artworks, etc. Overseas.

But after the bubble burst, they repeatedly experienced deflation and inflation then became fixed at zero interest rates becoming a safe asset.

So countries buy dollars and yen to keep.

Although Japan may suffer economic damage, they know they can rise anytime by harvesting again the many things their ancestors spread across countries from long ago.

Above all, what must be remembered is Japan is the world’s largest net creditor nation.

In other words, money they lent to others was far more than borrowed money.

“But even for such Japan, YCC collapse would be shocking. As zero interest rates maintained for decades breaks, companies go bankrupt in succession and the financial system gets paralyzed in an instant.”

The problem was this YCC collapse was serious enough that overseas assets couldn’t defend.

Moreover, even trying to bring assets spread overseas takes time.

Because even trying to sell real estate, you can’t sell if no buyers even after putting it out, and bonds also have maturity periods.

Also, for the Japanese government and companies who couldn’t imagine zero interest rates would break very suddenly, taking hits defenseless was biggest of all.

“Now Japan is chaos. Due to bond price crashes, banks, insurance companies, and other financial institutions are facing insolvency or bankruptcy crises in succession.”

Banks were especially problematic.

Banks usually choose the safest assets to roll money when deposits come in, and that was exactly bonds.

They only invest in so-called safe bonds whose prices absolutely won’t fall to rock bottom.

Through interest from there, they gradually increase customers’ money.

But if Japanese bonds they bought drop massively, customers who deposited money there tremble with anxiety, ultimately leading to withdrawals.

If that worsens, bank runs burst.

That was Japan now.

Many banks were already refusing withdrawals, and some filed bankruptcy applications.

When Japan threatened powerful trade sanctions, actually citizens didn’t feel that damage tangibly.

However, Japan’s entire population was desperately feeling the terror of YCC’s collapse.

“Our positions are all organized, right?”

“Yes. Since quantities were so much, organizing took some time. But since Gold Reagan side also proceeded with work quickly, organizing all finished.”

The amount that fell into our hands with position organizing finished was exactly 10 trillion won.

We earned a whopping 4 trillion won short-term and escaped before collapsing more.

“Wow.. 10 trillion won.”

“Then can we now roll 10 trillion won? Just as securities firm investment amount?”

It was the moment of finally reaching the first target amount of 10 trillion won.

“But President. When did you contact bear funds?”

“What?”

“I know bear funds moved almost simultaneously as soon as we moved. I know those people don’t listen to others, but didn’t they move per your instructions, President?”

Then employees’ gazes all stuck to me at once.

“…”

Bear funds.

I don’t know even one person related to that side.

Meaning I don’t know even affiliated employees, let alone managers.

But somehow as soon as our Gwangwoon took positions, they took positions identically as if promising with me beforehand.

That YCC collapsed this time was decisively because of exactly that.

Unintentionally I became Korea’s George Soros.

If there’s a difference, it’s that with less investment we earned more than George Soros. Plus I didn’t intentionally set up the board with multiple funds beforehand like George Soros.

“…”

What should I answer this?

Employees were pressing me with eyes full of expectations.

“There’s absolutely no connection with me.”

I thought their eyes would change to disappointment, but it was actually opposite.

“Ah. I’m sorry.”

Manager Seo suddenly bowed his head enough for his forehead to touch the table.

“I asked what I shouldn’t have asked. I briefly forgot there are things we shouldn’t know, must pretend not to know even if we know.”

“..?”

“I won’t ask such questions again, so please forgive me.”

“Ah. It’s fine.”

“Yes. Then President. Where’s the next investment..”

While holding tremendous money of 10 trillion won, leaving it still without rolling it would be a great sin.

I looked again at the Japanese side research report that was full of noise before.

The place that was definitely full of hideous noise as if someone maliciously doodled back then,

“..!”

Now started one by one brightly shining.

***

“I was surprised too. Even before the Japanese government officially announced, they say President Jeong was preparing in advance? Preparing to properly stick a punch in the Japanese government’s face.”

“..Me?”

“Pretending not to know. Through Gwangwoon Shipping, you cleverly adjusted schedules so logistics chaos would intentionally occur for Japan? Haha. Very meticulous. What thoughts do you have normally to devise such plans?”

Chairman Kang Seong-ho was feeling very good today, repeatedly downing drinks.

“Thanks to President Jeong, our government people are also stretching their shoulders wide. Anyone watching would think they did it. Those bastards who were just getting hit quietly.”

“Well, if it’s mutually good, that’s what matters.”

“Hmm. Sometimes watching, I don’t know if President Jeong is really good-natured or deliberately hiding.”

“I’m exactly as I appear.”

“Someone like that made Japan that way? Completely smashed them up yet what-. As Japan got wrecked that badly, we don’t know when they’ll recover going forward.”

The urgent Japanese government ultimately lifted trade regulations they imposed on our country.

Because they knew the situation would worsen if they cared about pride now.

So Chairman Kang Seong-ho drinking excitedly today was also for such reasons.

“We were having trouble getting parts from overseas anyway. It’s fortunate. But I definitely realized this time. That if we only depend on imports, we might take counter-attacks again someday.”

“You’re going to properly establish factories domestically?”

“Yes. We can somehow learn technology too. Above all, since Japan’s properly caught in financial crisis now, company stakes are getting very cheap. I’m also considering acquiring this opportunity.”

In the report I saw yesterday, several companies’ lights also sparkled.

But I didn’t purchase.

Because intuition to buy right now didn’t come.

“Watching President Jeong’s actions this time, I learned so much. Isn’t it strange? Learning so much from someone far younger than me.”

“You must be drunk again.”

“No. I’m still fine. President Jeong showed us this time, didn’t you? Rather than cowering and backing down bowing, bite at least. Of course, President Jeong dropped almost one tactical nuke equivalently. Haha.”

This was Chairman Kang Seong-ho’s characteristic.

Once alcohol enters, he suddenly talks tremendously much.

“Looking at it this way, I’m relieved. If I made the wrong choice back then making President Jeong an enemy.. Ugh. Don’t even want to imagine.”

“Why do you keep making me a villain?”

“Villain! President Jeong is a patriot, a patriot! You made the hearts of our 50 million citizens very refreshed!”

Just when thinking I should send him home and stop pouring drinks.

“President Jeong.”

Chairman Kang Seong-ho’s relaxed eyes returned alertly.

“Seeing you move even shipping this time, I knew exactly what President Jeong is trying to do.”

“..What am I trying to do?”

Looking at me as if pretending not to know is useless, Chairman Kang Seong-ho smiled broadly.

“You’re trying to make Japan an international outcast by simultaneously paralyzing logistics and finance. To devour everything inside there. Aren’t you?”

“..?”

“Can I join that too?”