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CH149 | GSI
🕑 Added 2025-02-20 03:30:00 +0000 UTCA large Mercedes-Benz sedan cruised smoothly down the Olympic Expressway toward Gimpo International Airport.
Since it was a weekday afternoon, traffic was light, allowing the vehicle to move quickly without obstruction.
In the back seat, Seok-won, dressed in a casual suit without a tie, leaned against the seat, gazing out the window.
At that moment, an interesting news report came on the radio, which was tuned in by the driver, Kim Hyung-ki.
[Now for our next story.
At the ongoing G7 Finance Ministers’ Meeting in Washington, the Japanese government has reportedly expressed its desire to reconsider the current floating exchange rate system.
Masaki Fujimoto, Japan’s Minister of Finance, has proposed reviewing the floating exchange rate mechanism, discussing potential target ranges for exchange rates, and increasing government intervention in currency markets.
However, given the current economic climate, where Japan is struggling with a strong yen, their request has received little support from other G7 nations, making it unlikely to become an official agenda item.
Experts believe this move clearly reflects Japan’s growing concerns over the yen’s rapid appreciation since the start of the year.
In fact, the Bank of Japan, in its recently published quarterly report, forecasted that the Kobe earthquake and the soaring yen would significantly hinder Japan’s economic recovery.
Meanwhile, the German Chancellor recently criticized the U.S. in an interview, urging Washington to “stop sinking the dollar” and condemning its deliberate weak-dollar policy.
In the midst of these tensions…]
While the news anchor predicted that the G7 meeting would end in deadlock with no substantial outcome, Seok-won thought differently.
“The biggest deals never happen in the spotlight—they’re made quietly behind the scenes.”
From the driver’s seat, Kim Hyung-ki briefly glanced at the rearview mirror and asked, “Did you say something, sir?”
“Nothing,” Seok-won replied.
Sensing that no further explanation was coming, Kim Hyung-ki simply refocused on the road.
He didn’t know it yet, but before long, the so-called “Reverse Plaza Accord” would be struck—a covert agreement designed to strengthen the U.S. dollar by weakening the yen and the German mark.
Seok-won’s smile deepened at the thought that the seeds he had planted in preparation for this moment would soon yield significant returns.
As these thoughts ran through his mind, the Mercedes-Benz exited the Olympic Expressway and entered the grounds of Gimpo International Airport.
The sedan gradually slowed and pulled up in front of the international terminal. Seok-won opened the door and stepped out.
“Are you sure you don’t want me to escort you inside?”
Kim Hyung-ki, who had retrieved a travel suitcase from the trunk, asked again. Seok-won had already turned down the offer multiple times.
“No need. You can head back now.”
Kim Hyung-ki hesitated briefly before nodding in agreement.
“Have a safe trip, young master.”
“I will.”
With a respectful bow, Kim Hyung-ki got back into the driver’s seat and pulled away.
Once the Mercedes disappeared from view, Seok-won took out his phone and made a call.
“I’m in front of Gate 2.”
After the brief conversation, he slipped the phone back into his pocket and waited.
Moments later, a large-built man in a suit and sunglasses emerged from the terminal.
As soon as the man saw Seok-won, he approached and removed his sunglasses, greeting him.
"It’s been a while, boss."
The Black man standing before him was Baucus, the bodyguard assigned to him during his trip to Chicago to meet Cuff.
A veteran of the elite U.S. Navy SEALs, Baucus had participated in numerous special operations, including the Gulf War.
Originally, he had only been hired for short-term assignments during Seok-won’s stays in Chicago. However, his quiet demeanor and ability to handle tasks efficiently without being told had left a strong impression.
Since Seok-won had been looking for a reliable escort for his time in the U.S., he had asked Landon to formally recruit Baucus under highly favorable terms.
Naturally, Baucus reached for the handle of a nearby suitcase and stepped aside as if to guide him.
"The private jet is ready. You can proceed straight to the departure gate."
Nodding slightly, Seok-won strode into the international terminal.
He passed through a VIP-only gate, where he quickly completed the departure procedures before boarding the business jet stationed at the tarmac.
This jet was exclusively for Seok-won’s personal use—a brand-new model fresh off the production line at the Gulfstream factory just a month ago.
The sleek Gulfstream IV had been painted in a two-tone combination of Nautic Blue and Crystal White, adding a luxurious and distinctive touch.
Ascending the ten steps lined with a red carpet, he was greeted by a slender blonde woman wearing a form-fitting, short-skirted uniform.
She flashed him a captivating smile.
"Welcome aboard."
Seok-won gave a slight nod in response before stepping inside.
The interior, designed like a five-star hotel, immediately caught his eye.
Beige leather seats, brown high-gloss tables, and a white vase with fresh flowers on top—it felt like a penthouse lounge, modern yet elegantly refined.
While the aircraft could originally accommodate 14 passengers plus crew, he had reduced the number of seats to just eight to maximize comfort.
Following the flight attendant’s guidance, Seok-won walked to the front and settled into a spacious, full-flat bed seat—far superior to any first-class commercial airline seat.
"Would you like me to store your jacket?"
"Thank you."
As he handed over his jacket, the flight attendant opened a built-in closet along the wall and carefully hung it inside.
"What’s your name?"
"Bella."
It was a beautiful name that suited her appearance.
Seok-won smiled and casually engaged her in conversation.
"Bella, could you bring me a cup of coffee?"
"We’ll be taking off shortly, so I’ll prepare it for you right after we’re airborne."
"Alright."
"Would you like anything else?"
"Not at the moment."
"Then, for safety, please fasten your seatbelt."
Seok-won nodded and secured the seatbelt around his waist.
"Thank you."
After confirming that his seatbelt was properly fastened, Bella moved to the rear of the cabin and efficiently closed the boarding door.
As the aircraft went through its final pre-flight preparations, Seok-won leaned back into the plush seat and gazed out of the large panoramic window—more than twice the size of a standard airplane window—watching the world outside.
How long had it been?
With a faint noise, the aircraft's engines on both sides roared to life, sending a slight vibration through the fuselage.
A moment later, under the control of the air traffic tower, the private jet slowly taxied out of the tarmac and came to a stop at one end of the runway.
Then, with the engines pushed to maximum thrust, the jet surged forward and soon soared into the sky, leaving the ground behind.
Despite the takeoff, the well-soundproofed cabin remained remarkably quiet and stable, with minimal noise or vibration.
In no time, the aircraft climbed to an altitude of 50,000 feet, leveled off, and adjusted its heading toward its destination—New York.
As Seok-won gazed out of the large panoramic window at the thick, white clouds below, Bella approached, pushing a wheeled tray.
"Here’s the coffee you requested."
She gracefully poured the coffee into a cup from a tall-necked pot, releasing a rich aroma of freshly brewed beans that lingered in the air.
"Thank you."
"You're very welcome."
Bella flashed a bright smile before excusing herself and leaving him to relax.
Slipping off his dress shoes, Seok-won put on a pair of slippers placed nearby and stretched his legs comfortably, cup in hand.
"Delicious."
The thought of drinking coffee above the clouds made it taste even more special.
Leaning back, he sipped his coffee, thoroughly enjoying the flight in a satisfied mood.
***
Nissan Headquarters, Nishi Ward, Yokohama, Kanagawa Prefecture, Japan
Yamamoto Daito, the Chief Financial Officer, frowned as he set down the documents in his hand.
Adjusting his gold-rimmed glasses, he looked at Moriyama, the Finance Director, seated on the left-side sofa, and spoke.
"Are you telling me we've lost 10.3 billion yen this month alone due to exchange rate losses?"
Under Yamamoto's sharp gaze, Moriyama answered with an uneasy expression.
"Yes. As you know, we took a conservative approach, estimating this year’s exchange rate to be around 99–103 yen per dollar when drafting our financial plan. But the sudden and unexpected surge of the yen has caused significant foreign exchange losses."
"Tch. Damn those hedge funds! We’re just collateral damage in their game."
Fuming, Yamamoto leaned back in his chair and roughly loosened his tie.
Sensing his superior's foul mood, Moriyama cautiously continued.
"The Bank of Japan’s interest rate cut has put an end to the hedge fund attacks, but the yen is still fluctuating around 81 per dollar. If this continues, we’re likely to face substantial exchange rate losses next month as well."
"Damn it!"
Before Moriyama could even finish speaking, Yamamoto slammed his palm against the armrest of the sofa, raising his voice.
"What’s the point of exporting so many cars if exchange rate losses are eating away at most of our profits?! Do you have any idea what the president will say when he finds out?!"
The sudden surge of the yen had been impossible to predict—not even Yamamoto himself had foreseen it. But despite this, he vented his frustration on Moriyama, who could only bow his head like a guilty man before a judge.
After letting out his anger, Yamamoto pressed his fingers against his temple as if trying to ease a headache and asked:
"In your opinion, how long do you think this yen appreciation will last?"
"Exchange rate fluctuations are so severe that it’s difficult to predict, but I believe the strong yen will persist for quite some time."
Moriyama answered cautiously.
Yamamoto shared the same concern, and his expression hardened instinctively.
"That does seem highly likely."
After a brief pause, Yamamoto spoke again, his voice weighed down with seriousness.
"If that happens, how much more foreign exchange loss are we looking at this year?"
Moriyama’s expression darkened visibly as he answered carefully.
"Assuming the rate remains at 81 yen per dollar, losses in the second quarter alone are expected to exceed 20 billion yen."
Yamamoto’s face twisted in frustration.
With May being the only month left in the second quarter, another 10 billion yen loss in such a short span was an infuriating prospect.
"Tsk..."
Crossing his arms and furrowing his brows in deep thought, Yamamoto finally lifted his head, having reached a decision.
"We can’t just sit here and do nothing. We need to hedge our foreign exchange exposure immediately with forward contracts or similar instruments."
If the exchange rate dropped significantly later, there would be some loss, but in a period of extreme volatility like this, reducing risk was more important than maximizing gains. Moriyama agreed.
"I think that would be the best course of action."
At that moment, something crossed Yamamoto’s mind, and he looked at Moriyama.
"That proposal from Eldorado or whatever—wasn’t the agreed exchange rate for their knock-in, knock-out option set at 90 yen?"
"Yes, that’s correct."
"If I remember right, the fluctuation range was 78 to 100 yen. Is that correct?"
"Yes."
Yamamoto stroked his chin and murmured to himself.
"I don’t like knock-out options because of the tricks Quantum Fund pulled in the past, but with a fluctuation range that wide, signing the contract might not be a bad idea."
"Are you considering an options contract?"
"If we’re going to hedge our foreign exchange risk, we might as well choose the most favorable option available."
Moriyama also thought the conditions Eldorado Fund proposed were quite attractive, so he nodded.
"How much should we set the contract amount for?"
"Hmm… One hundred million... No, let’s go big—make it 500 million dollars."
"Understood."
"Have the legal team review the contract to ensure there are no hidden pitfalls. If everything checks out, proceed with the agreement immediately."
"Yes, sir."
A short while later, Moriyama left the office, leaving Yamamoto alone.
He reviewed the estimated foreign exchange losses once more and clicked his tongue in frustration.
Keeping up with the soaring yen was enough to make his hair fall out.
Then, recalling that he had just ordered the purchase of Eldorado Fund’s options, he furrowed his brows and muttered under his breath.
"There’s no way the yen will suddenly plummet below 100 again… right?"
