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🕑 Added 2025-03-12 03:30:01 +0000 UTCWould Taewoo Group have survived if the financial crisis had been prevented?
My answer is no.
The crisis may have been the catalyst, but Taewoo Group’s reckless management and excessive debt were a ticking time bomb.
Even without the crisis, Taewoo Group would have collapsed eventually.
That’s why I could walk into this meeting with Quantum Fund feeling relatively at ease.
"Hello, I’m Daniel, a director at Quantum Fund. It’s an honor to meet with SAVE, the firm that’s been making waves on Wall Street."
"The honor is mine. Thank you for bringing such an interesting proposal to us. My name is Kim Min-jae, and I oversee investments at SAVE. Feel free to call me Kim."
Daniel, a director at Quantum Fund.
A well-connected figure on Wall Street and a key player at Quantum.
His presence alone proved how serious Quantum Fund was about this deal.
But still, I was a little disappointed.
I had hoped—just maybe—I’d get to meet George or Jim themselves.
"Shall we get straight to business? For traders on Wall Street, time is money, after all."
"Why not? I’ve been aware of Quantum Fund’s short position on the British pound for some time. There’s something fascinating about an individual taking on an entire nation—I couldn’t help but root for you."
"Instead of just cheering from the sidelines, why not join the battle as an ally? This is an investment that simply cannot fail."
"Looking at the scenario, I’d have to agree. It’s a fight the UK is bound to lose. The real question is how long it takes them to surrender. The longer they resist, the more capital gets tied up—opportunity costs will start piling up."
I played along, tugging on the negotiation rope just a little.
Not to resist, but to show that we knew exactly what we were getting into.
"The UK has already raised interest rates six times. Within a year, they’ll be forced to wave the white flag and exit the ERM."
"You’re talking about the European Exchange Rate Mechanism? It does have plenty of weaknesses. Government intervention has created loopholes that can be exploited."
"Exactly! Given your understanding, I don’t need to tell you that the success rate of shorting the pound is practically 100%."
That was enough to show what we knew.
I had made it clear that we weren’t investing just because of Quantum Fund’s reputation—we were investing because we believed in the opportunity itself.
"Now, let’s talk numbers. I’m thinking of starting small—perhaps with a $1 billion investment."
"Small, you say? $1 billion is still a significant amount… Though, I must admit, I was expecting more. I heard SAVE made over $10 billion from the Gulf War."
$1 billion—over 1.3 trillion won in today’s exchange rate.
A massive sum by any standard, but on Wall Street, where hedge funds manage tens of trillions, it wasn’t an overwhelming figure.
"Consider it an initial deposit. I’m prepared to invest up to $5 billion."
"Then, I assume there’s a condition for the remaining $4 billion?"
"Nothing too complicated. Just a ten-minute meeting with George. That’s all I ask."
"That’s an easy request. In fact, George has been waiting for you."
"…What do you mean?"
"George meets with everyone who joins as an ally. In fact, if today’s negotiations went well, he was planning to make a secret appearance. But it seems, Kim, you beat him to the request."
I wasn’t entirely sure what was happening.
But sure enough, George, the head of Quantum Fund, appeared at the meeting, greeting me with a warm smile as he extended his hand for a handshake.
"I’m George, the man running Quantum Fund. Thank you for joining us as an ally in our fight against the UK."
"I’m Kim from SAVE Investment. A war with a 100% chance of victory and plenty of spoils to claim? Of course, I had to join."
"And yet, there are still plenty of fools on Wall Street who don’t see the obvious."
George, the man called a devil, a demon king, or sometimes even a wicked savior.
But contrary to those terrifying nicknames, his first impression was that of a kind neighborly uncle.
"Well, I suppose it’s a relief that I’m not one of those fools."
"But I heard you specifically wanted to meet me first. May I ask why?"
"I don’t just want to be an ally in this war—I want the authority to be an ally in every war to come. If you grant me that, I’ll invest more than $5 billion into the pound short position."
On Wall Street, no one survives alone.
To avoid becoming prey to the U.S. government or rival hedge funds, you need strong allies.
"$5 billion… That’s quite the tempting offer. But when you say every war, where do you think the next battlefield will be?"
"Once the pound crashes, the Italian lira will follow."
I answered without hesitation.
After nearly two decades of studying his every move, I knew exactly what to say.
And George was clearly pleased with my response.
"You think the same way I do."
"Not just the pound and the lira—Britain’s entire currency market is full of weaknesses."
"Again, I completely agree. Alright, I promise that from now on, Quantum Fund and SAVE will be allies in every war."
Words alone held no real value.
But since this kind of promise couldn’t be put in writing, a verbal agreement was all we could rely on for now.
Of course, there was a way to solidify this alliance even further, but now wasn’t the right time to use it.
"Then please send over the investment proposal. SAVE will inject $5 billion accordingly."
"Unlike the old wolves of Wall Street, you’re bold. Those cowards too afraid to get hurt should step aside and fade into irrelevance."
George wasn’t young anymore.
Yet, his fangs remained sharp, and I intended to use them to my advantage.
"I’ll have the funds transferred by tomorrow. I’ll also send a few key personnel along."
"Just prepare your fork and knife. I’ll serve you a perfectly prepared meal—Britain, served on a silver platter."
"Ah! And if I could ask for one more thing—something personal?"
"Anything. For an ally, I’d do whatever it takes."
"Would it be possible to get a letter of recommendation? It’s for my college applications."
"…Wait, is this for you?"
"Yes, I’m starting college soon."
"Hahaha! Well, then, of course, I’ll write one for you. In fact, I’ll have Jim write one as well. He was a university professor, so his recommendation should carry quite a bit of weight."
"Thank you. Oh! And I’ll increase the investment from $5 billion to $6 billion."
"$1 billion just for a few recommendation letters? That’s quite the expensive favor. Hahaha."
After the meeting, I headed to SAVE Investment.
Vice President Jeffrey and four securities traders were already waiting for me. They led me to the conference room, and before I could even sit down, Team Leader Han got straight to the point.
"Did you decide to accept Quantum Fund’s proposal?"
"We’re adding $6 billion to the pound short position."
"I understand that the ERM system and the pound have major weaknesses, but $6 billion is an excessive amount. This isn’t some third-world country—we need to defeat Britain itself for this investment to pay off."
Han expressed his concerns.
But he didn’t strongly oppose the decision—just a cautious warning for the company’s sake.
After all, he had full confidence in me, especially since my past investments had been huge successes.
"This will be settled by next year at the latest. Even with $4 billion remaining, SAVE Investment and our employees will still have enough capital for other investments. Don’t you think so, Vice President Jeffrey?"
"$4 billion is still quite a large amount. Currently, we’re focusing on acquiring shares in IT companies, and our projected capital deployment until the second half of next year is under $3 billion."
"And this investment won’t require much manpower. Quantum Fund has already devised the entire strategy. All we have to do is review their proposal and follow through with our investment."
As we were deep in discussion—
Knock, knock.
An employee entered, carrying a stack of documents.
"These are the materials from Quantum Fund."
"Already? I thought they wouldn’t arrive until tomorrow."
I handed the documents to Han.
He and Jeffrey began going through them meticulously.
About 30 minutes later, a smirk started forming on Han’s lips.
"It seems Britain doesn’t have much time left. Quantum Fund and Wall Street’s hedge funds have already driven the pound to the brink of collapse."
"All we need to do is step into the final round and deliver the finishing blow. Now do you see why I allocated $6 billion?"
Jeffrey still sounded uncertain.
"Is this really the finishing blow? I understand the pound is in danger, but will Britain really surrender? Even if they do, won’t it take quite some time?"
Han, however, looked absolutely confident—and his S-tier analytical skills backed that up.
Jeffrey had three different S-tier competencies, but when it came to analysis, Han was on another level.
"The total capital mobilized by Quantum Fund and hedge funds exceeds $110 billion. If we add our $6 billion and leverage it, Britain will have no choice but to raise the white flag. And if they delay, the British people themselves will rise in revolt."
"Since they’ll suffer the most from the pound’s collapse, it’s inevitable."
I nodded in agreement.
Han highlighted key parts of the Quantum Fund documents and began explaining in detail.
"Interest rates keep rising. There will likely be more hikes early next year. But that’s just a temporary fix—it’s like trying to warm yourself by peeing in the snow. In the end, they’ll have no choice but to exit the ERM, and when they do, the pound will crash."
Jeffrey sighed.
"Alright, I’ll leave this entirely to you and the CEO. I’ll focus on our other investments."
He was stepping back, choosing to concentrate on IT rather than the headache-inducing pound trade.
"Then, Han, assemble a task force for the pound short position. Also, establish a direct communication channel with Quantum Fund."
"I’ll visit Quantum Fund as soon as possible to set that up and move forward with the plan."
By next year, I’d be starting college.
If I wanted to graduate early, I needed to prioritize my studies. That meant SAVE Investment had to run smoothly without me, with Jeffrey and Han taking the lead.
Of course, when it came to major investments and key talent recruitment, I’d still have to step in personally.
