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CH169 | GSI
🕑 Added 2025-02-26 03:40:01 +0000 UTCThe composite stock index had started the day on a refreshing note in the 1,000-point range but soon lost momentum, continuing its descent. It wasn't until July, when the government implemented an additional expansion of the foreign stock investment limit, that the market finally hit rock bottom and began to rebound.
With the market warming up and trading volume increasing, Daheung Securities' trading center also grew more vibrant and busier than ever.
Ring ring! Ring ring!
"Check the order I just placed!"
"Fifteen hundred shares of Saseong Electronics, buy order!"
"Five minutes until the market closes!"
Deputy Manager Jung Hwan-yeop, his eyes fixed on the dual CRT monitors in front of him, briefly glanced at the digital clock on his desk upon hearing the time update.
Then, with intense focus, he swiftly maneuvered his mouse and keyboard, executing dozens of buy and sell orders in mere seconds.
Click-click-click!
The moment he hit the button, confirmation alerts chimed as stocks flowed out of the trading account and were instantly replaced with new holdings.
As soon as the final trade was executed, the market’s closing bell rang, as if it had been waiting for this exact moment.
Gradually, the chaotic noise that had filled the trading center—blaring phone rings, traders shouting buy and sell orders into their receivers—began to subside.
“Whew.”
Only then did Jung Hwan-yeop lean back in his chair, exhaling deeply as he finally tore his gaze away from the monitors.
After taking a brief moment to unwind, he grabbed the mouse again and checked the day's trading performance.
[+37,500,000￦]
The strong market conditions had certainly helped, but today, his trades had been particularly spot-on. It was a solid day's profit.
Since the beginning of July, he hadn’t had a single losing day. Seeing those numbers on the screen only boosted his mood further, and a satisfied smile crept across his face.
“If only every day could be like this…”
Just then, Team Leader Choi Ho-geun, dressed in a short-sleeved dress shirt with a tie, approached from behind and suddenly spoke.
“What are you up to?”
“Just admiring today’s earnings.”
Jung Hwan-yeop responded with a smug grin, clearly pleased with himself.
Choi Ho-geun leaned in to take a look at the trading account on the monitor.
“Not bad, you made yourself useful today.”
“This is nothing,” Jung Hwan-yeop boasted, shrugging his shoulders.
Lately, he had been feeling pretty good about himself—his trades were hitting the mark, and his confidence was at an all-time high.
“You're getting cocky again,” Choi Ho-geun scoffed. “You know that one bad trade can wipe out all your hard-earned profits in an instant, right?”
“Of course. What do you take me for, a rookie?”
“Ugh, that’s exactly why I’m more worried. If you were a rookie, I could at least keep you close, drill some sense into you, and train you properly. But now that you’ve gotten a bit of experience, you’ve turned into such a slippery little punk.”
“Oh, come on. What did I do now?”
“You really don’t know? You’ll see when you get a junior just like yourself and have to deal with them.”
Team Leader Choi Ho-geun clicked his tongue loudly, making sure Hwan-yeop could hear his disapproval.
“Just don’t give Miss Hong a hard time today. Make sure you finish sorting out the vouchers and hand them in on time.”
“Yes, sir. Understood.”
Jung Hwan-yeop smacked his lips and gave a half-hearted response.
Meanwhile, Choi Ho-geun returned to his desk and glanced at the composite stock index displayed on his computer screen. The index had climbed 21 points from the previous day. He muttered to himself, almost in disbelief.
“At this rate, the Director’s prediction might actually come true… We might break past the previous high.”
Everyone knew that expanding the foreign stock investment limit would bring in more capital, which was a bullish sign for the market.
However, given how the index had been in a steady downtrend since the beginning of the year, most people had simply hoped for a slowdown in the decline or, at best, a partial recovery. A full rebound to 1,000 points had seemed like a long shot.
Choi Ho-geun had been no exception.
But as soon as foreign capital started flowing back in July, the market staged a sharp reversal, and the mood changed almost overnight.
Of course, there was still a long way to go before surpassing the previous high, but if the current momentum continued, reclaiming 1,000 points no longer seemed impossible.
As he watched the market defy expectations, Choi Ho-geun once again found himself impressed by Seok-won’s remarkable foresight.
Thanks to Seok-won’s directive, they had secured large positions in blue-chip stocks like Saseong Electronics and Hyunwoo Heavy Industries while prices were low. As a result, not only Team 4 but all of Daheung Securities’ PI teams were seeing impressive returns.
Just as he was lost in thought, Hong Jae-hee returned to her desk, holding several envelopes in her hands.
“Team Leader, here you go.”
“What’s all this all of a sudden?”
“Today’s the day we get our performance bonuses.”
“Oh, right.”
Team Leader Choi Ho-geun took the envelope from Hong Jae-hee, who was grinning from ear to ear.
At that moment, Jung Hwan-yeop, who had sharp ears, sprang up from his chair and rushed over.
“Miss Hong! You’ve got mine too, right?”
“Of course.”
“Heh, let’s see how much I got.”
Jung Hwan-yeop eagerly tore open the envelope, his face full of anticipation.
Despite the sluggish domestic stock market in the second quarter, Daheung Securities' PI team had managed to generate steady profits thanks to Seok-won’s outstanding investment strategies. While other firms were reporting losses, they had been consistently in the black, making everyone excited for their bonuses over the past few days.
Unfolding the payslip, Jung Hwan-yeop quickly scanned the figures and let out a short whistle.
Total Bonus Payment: 4,300,000
Deductions: 114,800
Net Amount Received: 4,185,200
“This is more than I expected.”
Team Leader Choi Ho-geun checked his own payslip and saw that his bonus exceeded 5 million won.
“My wife’s going to love this.”
If there was one thing that had changed the most since Seok-won joined the company, it was the size of the performance bonuses.
While profits had certainly improved, the biggest difference was how they were rewarded. In the past, bonuses were capped at around 100% of base pay, just enough for the company to make a show of appreciation. But now, they were receiving payouts directly proportional to their actual performance, which made working all the more rewarding.
Hong Jae-hee and Yoo Seok-hyun also tore open their payslips, their faces lighting up with excitement.
“Whoa!”
“Wowww!!”
Just then, a sudden cheer erupted from beyond the partition where Team 1 sat.
The lively chatter and commotion quickly spread, making the whole office buzz with excitement.
“What’s going on over there now?”
“They probably just checked their performance bonuses like we did. I heard they made a killing on the yen trade, so their payouts must be pretty big.”
Jung Hwan-yeop responded as if it were obvious.
Team Leader Choi Ho-geun smirked, recalling how Song Jong-geun, his fellow classmate from their entry year, had been walking around looking miserable for a while because of the yen.
“Looks like it.”
“Should I go find out how much they got?”
Jung Hwan-yeop’s eyes sparkled with curiosity.
“What are you, a spy? Just leave it.”
Choi Ho-geun shot him an exasperated look.
“Forget it and just finish sorting out the vouchers.”
“Yes, sir.”
Jung Hwan-yeop smacked his lips in disappointment and reluctantly returned to his seat. Choi Ho-geun shook his head.
“That guy’s never going to grow up.”
Meanwhile, the ruckus over at Team 1’s section showed no signs of dying down.
Even though he had just told Jung Hwan-yeop to stay put, Choi Ho-geun couldn't help but feel a little curious himself.
Just how big was their payout for them to react like that?
“Guess I’ll casually ask about it later.”
"The market downturn has led to a sharp decline in trading fees, and we almost ended up in the red this quarter. Thanks to the PI team generating profits, we managed to save face."
Daeheung Securities President Go Young-il set his teacup down as he spoke.
Sitting calmly on the sofa to his left, Seok-won responded in an even tone, "It’s all thanks to you, sir, for paving the way."
He subtly alluded to the fact that Go Young-il had been in charge of the PI department before becoming CEO, effectively deflecting the credit. The president smiled at the remark.
"Haha, even if it’s just flattery, I like hearing it."
Go Young-il chuckled in satisfaction, resting his hand on the armrest.
"Everyone in the company knows that without your exceptional investment instincts—whether it was the long position on the yen or the recent investment in Hyujung Construction—the PI team wouldn’t have been able to achieve these results."
Seok-won knew that denying it or acting overly modest would just come across as false humility.
So, he simply remained silent and let the president continue.
"You're doing well, so just keep it up."
"Yes, sir."
Despite his initial preconceived notions, Go Young-il had come to appreciate Seok-won. Though young, he had consistently proven that age was irrelevant when it came to his capabilities.
Moreover, despite being a direct heir to the company’s owner, he was never arrogant or reckless, always treating Go Young-il with proper respect. There was no reason not to like him.
Leaning back into the plush sofa, the president paused for a moment before getting to the main point.
"The reason I called you here today is that I wanted to ask for your opinion on something."
"Please, go ahead."
"You probably saw the recent newspaper article about domestic investment banks surpassing 100 trillion won in total assets."
"……."
At the unexpected mention of investment banks, Seok-won felt a vague sense of unease.
"Well, when you can borrow dollars at low interest rates and lend them out at much higher rates, it’s practically free money. If I were in their position, I’d try to pull in as much capital as possible to issue more loans, too."
Then, looking at Seok-won, Go Young-il asked,
"Do you know how much profit the investment banks made in the first half of this year?"
"I believe they recorded close to 200 billion won in net profit."
"That’s right. With only about twenty firms in the industry, they’re raking in massive profits. Isn’t this the very definition of a golden goose?"
"Generating high returns also means they’re engaging in riskier lending," Seok-won replied cautiously.
"There’s no such thing as a risk-free business. If you think that way, stocks are no different," Go Young-il countered nonchalantly.
"In fact, when it comes to risk, stocks are far more volatile than commercial paper or bonds."
Under normal circumstances, that statement wasn’t wrong.
But human greed knows no bounds. The pursuit of ever-higher returns always ends in disaster.
The way the domestic CP (commercial paper) market and investment banks were operating had already started resembling reckless speculation.
"A few days ago, I had dinner with Vice Minister Choi for the first time in a while. He mentioned that as part of the government’s plan to further open the capital markets, they will grant new investment banking licenses to fifteen short-term finance companies next year."
"……."
"This shows not only how well investment banks are performing, but also that the government is actively supporting the sector."
Detecting the implicit meaning behind Go Young-il’s words, Seok-won asked seriously,
"Are you considering entering the investment banking sector?"
At that, the president straightened his posture, as if he had been waiting for the question.
"We have plenty of top talent in our firm. If we acquire and operate a small investment bank, we could significantly boost both our revenue and profits."
His eyes gleamed with determination, as though he had already made up his mind.
"Even if we don’t go that far, by the year after next, CP will be classified as a marketable security, allowing not just investment banks but also commercial banks and securities firms to handle them. If we start preparing now and aggressively expand into this business, we could achieve remarkable results. What do you think?"
Seok-won remained silent for a moment, meeting the president’s gaze. Then, with a firm tone, he gave his answer.
"I’m against it. No—under no circumstances should we get involved in that."
