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CH87 | GSI
🕑 Added 2025-01-27 03:30:01 +0000 UTCDaehung Securities Headquarters, Yeouido
A black BMW 540i descended a slope and entered the spacious underground parking lot.
The driver’s door of the parked BMW opened beside a pillar, and Seok-won stepped out in a neatly dressed suit with perfectly groomed hair. Locking the car, he slipped the keys into his inner pocket and walked toward the elevator hall on the opposite side.
Entering an empty elevator that had stopped on the basement level, Seok-won pressed the button for the fifth floor and watched the numbers on the display panel change as the elevator ascended.
The elevator stopped at the first-floor lobby, and the doors opened wide.
"Ah."
"Hey, why aren’t you getting on?"
A group of male and female employees, who had been waiting in line to catch the elevator as they arrived for work, froze when they saw Seok-won inside and hesitated to step in.
Those at the back, unaware of the situation and grumbling about the delay, quickly quieted down once they realized what was happening.
Everyone knew who Seok-won was, so it was a natural reaction.
Moreover, rumors had been circulating recently that Chairman Park Tae-hong had decided to hand over the group to his eldest son as the heir, while the securities company would be passed on to the second son, the employees’ discomfort was understandable.
"Are you not getting on?"
Standing awkwardly at the open elevator doors, a male employee met Seok-won’s gaze and hurriedly responded.
"Uh... we’ll take the next one."
In other words, “Please go ahead,” he gestured cautiously.
Seok-won quickly noticed why the employees were acting awkwardly and gave a light smile before stepping aside and leaning against the wall.
"There's no need to be formal. Just get in."
However, neither the male employee nor the others behind him moved immediately, hesitating.
Seok-won, still holding the open button with one hand, raised his other arm and glanced at his watch.
“The market’s about to open. Are we going to keep doing this?”
"Ugh..."
"Well then, excuse me."
Worried about potential trouble, the employees reluctantly began boarding one by one.
Shortly after, the elevator doors closed again, carrying Seok-won and the employees upward.
Upon reaching the fifth floor, Seok-won stepped out, leaving the employees visibly tense. As soon as he was gone, everyone let out a collective sigh of relief.
"Phew, I thought I was going to die from the tension."
"Tell me about it."
"At first, I thought he'd be cold and distant, but wasn’t he a bit of a surprise?"
"Yeah. I figured someone who’s the son of the chairman would be arrogant and full of entitlement, but he didn’t seem like that at all."
"At first, there were rumours he was just parachuted in but turns out he's quite capable. Have you heard? The Investment Team 4 made a huge profit again this time."
"I heard they got a massive year-end bonus last time. I'm seriously envious."
Like a dam bursting, the employees began sharing various opinions about Seok-won.
Unlike others, Seok-won never displayed arrogance or acted haughtily. Moreover, he had proven himself with exceptional performance, dispelling any notion that his success was merely due to nepotism. As a result, most people’s perceptions of him were positive.
***
Having exited the elevator, Seok-won walked down the hallway and entered the trading centre. Though it was still an hour before the market opened, nearly all employees had already arrived and were busily preparing for the day’s trades.
“Good morning, Team Leader.”
Hong Jae-hee, elegantly dressed in a two-piece suit, greeted him first from her desk.
Following her lead, other team members, including Manager Choi Ho-geun, stood up and bowed simultaneously.
“Good morning.”
“Good morning, everyone,” Seok-won replied with a smile as he walked toward his private office.
Out of habit, he turned on his computer first and hung his jacket on a nearby coat rack.
Just then, a knock sounded, and Hong Jae-hee entered, carrying a tray with an iced coffee.
“Here’s your coffee.”
“Thank you. But you really don’t have to do this every morning.”
“It’s a token of appreciation for the gifts you brought back from your trip to the U.S. Since you got us something expensive, I thought I should at least make your coffee.”
“I see, so it’s not entirely free, huh? I guess I’ll have to get you something next time.”
In the office, the only person who could rival Deputy Manager Jung Hwan-yeop’s obsession with gifts was Hong Jae-hee. Slightly flustered yet hopeful, she tucked her hair behind her ear and replied shyly.
“Oh, there’s no need for that… But of course, if you do, I wouldn’t refuse.”
Seeing her transparent intentions, Seok-won laughed heartily.
“Haha, okay. I’ll keep that in mind so I can keep enjoying your coffee every morning.”
His dazzling smile made Hong Jae-hee’s cheeks flush bright red.
‘Can someone really be this handsome?’
If she could, she would spend all day just staring at Seok-won’s face without ever getting bored.
“I’ll take my leave then.”
Bowing politely, Hong Jae-hee quickly scurried out of the room, overwhelmed by her own embarrassment.
Watching her retreat, Seok-won chuckled softly, then took a sip of the refreshing iced coffee before setting it down.
Picking up the neatly arranged newspaper from his desk, his eyes were immediately drawn to a prominent headline:
[President Kim: “We are forever grateful for the blood, sweat, and tears of the veterans who defended South Korea’s freedom 44 years ago.”]
The front page featured a large photo of President Kim Sung-gyu delivering a speech at the National Cemetery in Dongjak-dong during the 44th anniversary of the Korean War.
Turning to the next page, Seok-won saw a familiar face: his father, Chairman Park Tae-hong.
[Chairman Park Tae-hong Receives the Moran Order of National Merit for Recovering the SS Meredith Victory, Which Performed the Christmas Miracle During the Korean War]
The photo showed Chairman Park standing upright, receiving a medal pinned to his chest by the president. The image made Seok-won smirk as he recalled how his father, proud of the medal, had prominently displayed it in the centre of his study bookshelf.
Though it had been over two weeks since the SS Meredith Victory returned to Incheon Port, the story continued to dominate the news. Chairman Park receiving the award was given significant coverage, taking up nearly half a page.
“The more the media talks about the SS Meredith Victory, the better it is for my father’s and the group’s image. No harm in that.”
In addition to improving public perception, the acquisition of the new duty-free shop license was another major win. Considering the return on investment, the benefits far outweighed the cost.
“Honestly, I hadn’t expected the duty-free shop license. This makes the upcoming department store war much more manageable.”
If Mido Department Store—one of the twin pillars of the Daehung Group—could maintain its position amidst intense competition, the future of the group could change significantly.
Of course, establishing a new duty-free shop would require substantial investment, adding strain to the group’s already tight finances.
“Still, it’s far better than pouring money into failing subsidiaries that only drain resources.”
How the duty-free shop license would be utilized was up to his father and elder brother.
“Meddling in this would just be overstepping.”
Muttering to himself, Seok-won was interrupted by the ringtone of his phone on the desk.
He picked up the phone, and the familiar voice of Landon came through the line.
[Is it a good time to talk, boss?]
Leaning back in his chair, Seok-won glanced at his wristwatch.
“Isn’t it night-time over there?”
[I have updates to report, so I wanted to reach out.]
“Go ahead.”
[As per your instructions, we’ve taken a short position worth $24.7 billion, leveraging it threefold to sell pesos and Mexican bonds.]
“How’s the market reacting?”
[Following the massive sell-off, the exchange rate briefly surged from 3 pesos to 4.5 pesos but has since stabilized at 3.3 pesos.]
As if expecting this, Seok-won replied calmly.
“I suppose the Mexican central bank intervened.”
[Most likely. Over the past two weeks, we’ve sold about $15 billion, and the only entity capable of absorbing that amount is the Mexican central bank.]
“Combining attacks from others, their foreign reserves must be significantly depleted by now.”
[There’s a rumour that the Mexican government plans to issue $5 billion in new bonds next month.]
“Issuing additional bonds amid existing market anxiety is practically an admission of their dire situation.”
[It shows how desperate they’ve become.]
Seok-won let out a faint chuckle.
“On the other hand, they might still not have fully assessed the situation,” Seok-won said quietly as he thought through the issue.
[That could be true. If they were serious about resolving this, they’d abandon their pegged exchange rate system and devalue the peso instead of issuing bonds.]
Nodding slightly as he listened, Seok-won responded.
“They likely want to buy time until after the elections. It’s a stalling tactic.”
[The longer they delay, the bigger the eventual crash. Their denial and patchwork solutions are pitiful.]
Shrugging as he sat in his chair, Seok-won replied.
“At least it’s profitable for us.”
[Absolutely.]
While they exploited Mexico’s weaknesses, Seok-won felt no guilt or remorse.
‘This mess arose because Mexican politicians prioritized holding onto power instead of addressing issues. Who else is to blame?’
Had they responded quickly when the U.S. Federal Reserve began raising interest rates, the worst could have been avoided.
‘And if it wasn’t us, someone else would have capitalized on this opportunity. Better to claim the prize ourselves.’
Rationalizing his actions, Seok-won adjusted his grip on the phone and asked, “I heard the ruling party nominated a new presidential candidate to replace the assassinated Colosio?”
[Yes, Ernesto Zedillo. He was the former campaign manager, educated at Yale University, and is known as an economist, having worked at the Mexican central bank and served as deputy minister of budget and planning.]
“Not a bad choice, considering the economic crisis.”
[However, a recent poll shows him neck-and-neck with the opposition candidate, indicating his lack of recognition compared to the late Colosio.]
“That could be why the government and ruling party are hesitant to take bold measures.”
[Likely. Proposing tax hikes or restructuring now would amount to conceding the election.]
“Even so, keep a close watch and report any changes immediately.”
[Understood.]
Landon then shifted to another topic naturally.
[Also, we’ve liquidated our long positions in the insurance and banking stocks that plummeted during the bond massacre.]
“How much did we make?”
As if waiting for this question, Landon proudly replied.
[Brace yourself. We earned a 32% profit, netting $1.22 billion after expenses.]
Thanks to a threefold leverage on the $1 billion principal, the returns had been magnified significantly.
Seok-won smiled with satisfaction.
“Great work.”
[What should we do with the profits?]
Gently rubbing his smooth-shaven chin, Seok-won pondered briefly before responding.
“Cisco stock has been doing quite well lately, right?”
[Yes, it’s surpassed $20 per share.]
Having observed Cisco’s gradual recovery from its lowest point, Landon once again marvelled at Seok-won’s sharp instincts.
“Set aside $1 billion as a reserve and invest the rest equally between Cisco and Microsoft.”
While Seok-won had previously purchased Cisco shares through the Eldorado Fund, the holdings were under his name in the shareholder registry.
[Understood. I’ll take care of it as you said.]
After ending the call, Seok-won placed his phone down, stood up from his chair, and walked over to the window.
Outside, the sky was darkening, and thick clouds seemed to signal a heavy storm amidst the tall, sprawling buildings.
“Soon, the scent of blood will attract hungry wolves to Mexico.”
Seok-won muttered quietly, raising his gaze toward the increasingly shadowed sky.
