Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 44

44. 14th. Midwinter Hurricane (1)

A few days later.

I spoke with my grandfather, and under the condition of receiving a symbolic annual salary of 10 won from Haedong Corporation’s New York branch, I kept my name on the company roster while dedicating myself to organizing stocks. The day of my departure was fast approaching.

“Here.”

“Okay···.”

Perhaps due to the chilly weather, both Nana and I, meeting at a cafe in Misari, were dressed more warmly than the previous month. Her expression, however, seemed even heavier than her clothes.

“Keep it in cash for the time being. Don’t invest it anywhere.”

The bankbook she slid across the table showed a balance of 380 million won [approximately $300,000 USD], but neither Nana nor I paid it any attention. We simply stared silently at each other.

“The paintings··· too?”

“···Buy as many as you want, Noona [older sister or close female friend]. You’re doing good work.”

Knowing the reason why Jang Ha-yeon bought paintings—as a form of emotional release and self-soothing—I couldn’t bring myself to stop her. Since I would be living on the other side of the world for at least half a year, I didn’t feel I had the right to deny her this small comfort.

I couldn’t ignore the shadow that seemed to cling to Jang Ha-yeon, so I tried to offer some reassurance.

“Noona, life is cyclical. If we both focus on our paths, we’ll meet again.”

“Yeah···. I’ll work hard too, so you work hard and come back.”

“Yeah.”

There were many things I wanted to say, but in the end, this was all I could manage.

I hoped that when we met again, we would greet each other with brighter smiles and lighter hearts.

***

After saying goodbye to her, I took a taxi to Gimpo Airport with Park Tae-jin and Seon Hae-cheol.

“Are you alright, Young Master?”

“···It can’t be helped. I have my own responsibilities, too.”

I replied to Park Tae-jin, who was in the passenger seat, with a wry smile. Seon Hae-cheol, sitting next to me, turned his head.

“What? Did Seong-min get a girlfriend?”

“Let’s just call it the pangs of youth, Hyung-nim [older brother or close male friend].”

“The pangs of youth?”

Seon Hae-cheol stared at me, repeating my words.

“Are you dating someone?”

“Something like that, Uncle. It’s like dating, but not really dating, but still… like dating. I’m not even sure if this separation is real.”

“Well, what kind of nonsense is that?”

Seon Hae-cheol looked at me as if I were a complete oddball, but I ignored him and opened my briefcase. I sighed deeply; without the distraction of work, I had to force myself to focus.

“So, it hurts that much? Even a multi-billionaire is helpless, huh?”

“Uncle.”

Even when I narrowed my eyes at him, Seon Hae-cheol continued to poke fun at me.

“I understand, too. It hurts right here when you’re away from someone you care about.”

“Unc···.”

I almost raised my voice, annoyed by his theatrics, but then Seon Hae-cheol patted my shoulder and looked at me with surprisingly gentle eyes. What was that annoying man thinking? Could it be··· Claire?

I didn’t know. My head felt like it was about to explode just thinking about my own situation, so how could I possibly worry about someone else’s love life? I shook my head vigorously.

“Let’s talk about work, Uncle. When will the 50 million dollars from the stock liquidation be transferred to Standard?”

“Before processing the 50 million dollars, there’s something I need to tell you.”

“Please, tell me.”

“We need to keep a close watch on Pixar, Next, and Nvidia, but all the other stocks, including America Online, are on the rise. They should break 400 million dollars by the end of the year.”

After quickly reviewing the individual rates of return, which were largely in line with projections, I nodded. But the next piece of news from Seon Hae-cheol was truly shocking.

“And Yahoo is already worth over 900 million dollars. The more investments we attract, the more our stake defense costs will increase, but it looks like it will exceed 1 billion dollars by the end of the year.”

“O-one billion dollars?”

I was so surprised that my voice cracked. It had grown that much already?

“Yahoo used the 50 million dollars we invested last time to expand their servers, hire more staff, and place ads on their homepage. As a result, their visitor numbers and advertising revenue have increased dramatically, significantly boosting their valuation.”

“Ah···!”

I had sensed its potential when I visited New York in the summer, but I hadn’t anticipated the butterfly effect would be this significant. Yahoo’s value was only around 1 billion dollars when it went public in 1996, and now it was skyrocketing!

Even as I clenched my fist, unable to contain my excitement, Seon Hae-cheol seemed to have more to say.

“Claire and the others are blown away by Yahoo’s performance. Based on the current buzz, you might not even need to invest the full 50 million dollars. Everyone acknowledges your skill and your luck. What are you planning to do?”

This was welcome news. The foreign team in New York was finally starting to believe in me!

My face flushed with happiness, but I had to stick to my plan.

“No. Please send the full 50 million dollars as planned.”

“You’re so stubborn. The Chairman and Myung-woo were the same way. Is it a family trait?”

“The apple doesn’t fall far from the tree. Making money and stubbornness go hand in hand, right? Hehe.”

“Haha, that’s you.”

I gave a brazen answer and laughed, and Seon Hae-cheol simply stared at me with a hollow laugh.

***

While discussing work, we arrived at the airport. Soon after, we boarded a plane and landed in New York.

“Congratulations, Johnny! I heard from Sun that the consulting project was a huge success?”

“It’s nothing, Claire. I just came up with the idea; the elders of the family and the people in the company did all the real work. You helped a lot too, Claire, hehe.”

“That’s nothing. I just provided the ingredients. But many people can ruin even the best ingredients, like British cuisine, hehe.”

After catching up with Claire, I immediately entered the conference room.

“You’re up to speed on the company’s situation, right?”

“I reviewed everything on the way here.”

I had been poring over the reports with intense focus during the entire journey, trying to distract myself from missing Jang Ha-yeon, so I was familiar with most of the details. Maybe I should crack a joke to lighten the mood?

“Do a good job, Claire.”

I tossed out the comment with feigned indifference, and Claire immediately bristled.

“That’s too much, Johnny! How hard do you think I’m working? Honestly, Yahoo was a lottery ticket, wasn’t it?”

“Claire is right. We maximized our returns on all the stocks you picked.”

“To be honest, Johnny, we’re getting investment proposals pouring in from Silicon Valley because of Yahoo.”

“Sequoia Capital even proposed a business alliance. They seem to want to find a compromise rather than compete with us.”

Listening to the chorus of agreement from the employees, I felt a mix of guilt and surprise. We were receiving love calls from Silicon Valley and even Sequoia Capital.

“From Sequoia Capital?”

“Yes. They want to form a joint investment with us… or rather, sign a non-aggression pact, hehe. Please wait a moment.”

The employee who spoke those last words whistled and left the conference room, returning with document envelopes in both hands. A white A4 sheet of paper was placed on top.

“What’s that?”

“These are investment proposals from Silicon Valley. The sheet on top is a list of companies.”

I glanced at the documents, then around the table, noticing the expectant looks on everyone’s faces. What should I do? I was about to disappoint them.

“I’m sorry, but we’ll be putting venture investments on hold for the time being.”

“Now is the perfect time! Why now, when we can pick only the best opportunities…!”

“It’s too good to pass up! Isn’t this a chance to dominate Silicon Valley!”

Claire was also looking at me with displeasure, though her tone was calmer than the others.

“At least look at the proposals first, Johnny. The Fed interest rate has risen by 2 percent since the beginning of the year. You know there’s no better time than now, right?”

“I know. Wall Street’s funds are being drawn into the banks, and the money supply for ventures is drying up, making it the ideal time to separate the wheat from the chaff.”

“You know that, but you’re still putting it on hold?”

“Yes.”

As the atmosphere grew tense, Seon Hae-cheol quietly set down his coffee.

“Whoa, everyone calm down. Let’s hear what Johnny is thinking before we decide. What do you say, Johnny?”

“Yes, Uncle.”

I composed myself and addressed everyone.

“The midterm elections are coming up soon. Let’s make a decision after we see the election results.”

Only then did everyone nod silently, as if they had forgotten about the elections. I seized the opportunity.

“As you all know, the Republican Party is gaining momentum in this election. Clinton and the Democratic Party will try to promote IT, media, and finance, but what happens if the Republican Party wins?”

Everyone remained silent, but they understood the implications.

B.R.E.A.K.

“Even in Korea, the opposition party never lets the ruling party have an easy time. There’s no reason why the United States would be any different. Just look at the ‘Contract with America’ that the Republican Party is pushing. They’re making a big deal about cutting taxes, easing regulations, and establishing law and order.”

As soon as the midterm elections were over, a huge gambling opportunity would arise. My heart was already pounding at the thought, but I couldn’t reveal my foresight, so I calmed myself and pretended to be indifferent.

Claire was looking at me with regretful eyes.

“I know. Clinton has also had the Fed raise interest rates more than 10 times this year.”

“That’s right, Claire. He said he was trying to curb inflation, but he was really just trying to win votes in the midterm elections.”

“I agree. Greenspan is hedging his bets on both sides because he doesn’t know how the election will turn out.”

“Exactly. Let’s wait and see. We’re the investors, so we’re not the ones who will be disappointed.”

In a capitalist society, money is the way, the life, and the truth. We pave the way, we hold the leash, and we create the truth, so we can afford to be patient.

Claire nodded, but she still seemed disappointed.

“It’s not good to just sit around in the meantime… Do you have any other ideas?”

“We should create about twenty shell companies in tax havens and prepare to move our funds at a moment’s notice.”

Claire’s eyes widened like a rabbit’s. The other members also stared at me, as if questioning my sanity.

“That many?”

“We need to expand our investment reach gradually. I didn’t have you trading foreign exchange futures for nothing, hehe.”

Currency speculation is a perfect way to damage your reputation. If you speculate on currency in Standard’s name, you’ll be ostracized in Silicon Valley, which values the reputation of its investors. Of course, we need proxies to act in Standard’s place.

Seon Hae-cheol watched me and Claire, then nodded.

“It’s not difficult to set them up. If you leave it to a local law firm, they’ll hide even our shadows. It’s also easy to close them down after the project is over. But what are you planning to do with so many shell companies?”

“You can never be too prepared. They’re a joker for people who make money with money, right? Shell companies.”

The uses of shell companies are endless. Aren’t they essential for the wealthy, whether it’s creating slush funds by processing investment losses or becoming a major shareholder without triggering disclosure requirements? There are too many eyes watching Haedong Group’s funds, so I can’t bring them in directly, but it’s possible to hide my own activities.

Seon Hae-cheol stared intently at my calm face, then let out a soft breath.

“Okay. Everyone, do as Johnny says. The investment decision will be made after the midterm elections. That’s all.”

***

The US midterm elections are named as such because they are held in the middle of the president’s term.

This election, which replaces all seats in the US House of Representatives and 33 senators, is held every Tuesday after the first Monday in November when there is an election.

This midterm election was held on November 6, 1994, and the results unfolded exactly as I knew they would.

“[…] As a result of this midterm election, the Republican Party has gained control of both the House and Senate for the first time since 1952, and it is expected that the future of the Clinton administration will be turbulent. Newt Gingrich, who spearheaded the ‘Contract with America’ campaign, is likely to become the Speaker of the House […]”

The anchor’s voice on TV was abruptly cut off when Seon Hae-cheol pressed the remote control button.

“Interest rates will rise further.”

“They have to curb inflation to improve their chances of re-election.”

Seon Hae-cheol and Claire were right.

If interest rates rose, the Fed, controlled by the banks, could draw money out of the market and deflate the bubble in real assets like real estate. As a result, the uncertainty that worried my grandfather would disappear completely.

I set down my Starbucks coffee and asked.

“What will happen if interest rates rise?”

“Land prices and overall inflation will be somewhat controlled. But Wall Street, where we work, will turn blue [experience a downturn].”

Seon Hae-cheol’s indifferent answer was only partially correct. The stock market would crash, but the value of financial products that moved in tandem with interest rate hikes would skyrocket.

I nodded and asked another question.

“Still, people looking for safe investments will be happy if interest rates rise. They can invest in dollars.”

“Young Master’s words make sense, Hyung-nim. You can get a good return by investing in interest rate-linked products.”

Even Park Tae-jin chimed in, but Seon Hae-cheol shook his head.

“That’s true, but we’re far from safe. There are also funds that need to be recovered…”

Seon Hae-cheol suddenly stopped talking, blinked repeatedly, and looked around. Claire, Park Tae-jin, and I held our breath and watched him.

Thump!

Seon Hae-cheol slammed the table. Had he… realized it?

“Claire! Find out the size of the hot money that flowed into Mexico. Find out the size of their foreign debt as well. Quickly!”

“Why suddenly Mexico…?”

“We’ll talk about it later! Just find out quickly! Hurry!”

“Yes… Sun.”

Claire, still confused, hurried out after hearing Seon Hae-cheol’s urgent command.

“Thanks to you, I’m going to make a fortune, hehehe!”

Seon Hae-cheol couldn’t stop laughing as he looked at me.

Others might think he was crazy, but seeing his face light up at the mere whiff of currency speculation filled me with satisfaction. Was this what it meant for masters to understand each other?

I waited with a happy expression, anticipating Claire’s reaction. Just as I was about to finish my cafe latte, the door burst open.

“Sun!”

Claire called out to Seon Hae-cheol. Her face was a mixture of emotions, a blend of shock and excitement.

“You knew?”

“I’ve been eating Wall Street rice [working on Wall Street] for a full cycle [a long time]. Do you think I’m not paying attention?”

“I saw you two talking.”

It was amusing to see two people of different skin colors and ages bickering in Korean, but the answer that came from Claire’s mouth made me very happy.

“I didn’t realize there was so much hot money in Mexico. If all of that returns to Wall Street…”

“Exchange rate surge. The Mexican peso will become worthless.”

Even with Seon Hae-cheol’s calm assessment, Claire was visibly excited. She was like a gladiator whose blood was boiling before entering the arena.

“What should we do, Sun? I think we should start by meeting with our sponsors and raising funds.”

“Let’s hear the owner’s opinion first. Are you in?”

There was no reason to refuse this opportunity to showcase my skills. I smiled at Seon Hae-cheol.

“Call them, Uncle. Claire, gather as much ammunition as possible. Let’s have a real money feast, hehe.”

I, we, Standard, will ride the hurricane that’s about to hit Mexico.