Perfect World [EN]: Chapter 22

“Okay. Then, please tell me what brings you here. I’m in a hurry and don’t have much time to linger here.”

Bumseok glanced at Erfina once and carefully began to explain.

“I’m actually planning to start a Gladiator team. My plan is to develop it into a professional team aiming for the big leagues, so I need talented gladiators.”

Upon hearing those words, Erfina’s ears drooped, and she seemed to deflate. She immediately started acting at the mention of aiming for a professional gladiator team. Seeing this, James patted her back reassuringly, his gaze towards Bumseok hardening.

“And?”

“Yes. So, I’d like to buy Erfina again. I’ll give you 1.5 million Krang [currency unit], generously. What do you say?”

1. 5 million Krang was more than double the auction price from just now. It was worth considering, but James frowned and immediately waved his hand.

“That’s ridiculous. I absolutely cannot sell her.”

“Th, then. I’ll give you 2 million Krang. How about it?”

“Even so, I cannot sell what I cannot sell.”

As if he didn’t need to hear more, James turned to leave the lounge. Bumseok hurriedly chased after him and grabbed his arm.

“Then I’ll give you 2.5 million Krang.”

“No. I absolutely cannot sell her, so please give up.”

Amidst the continued haggling, Erfina’s perceived value continued to rise. Even when it reached 3 million, 4 million, and 5 million, James always shook his head firmly. 5 million was enough to buy a decent house in a good downtown area. Bumseok couldn’t understand why he was refusing so stubbornly.

“Al, alright. Then I’ll give you 7 million Krang.”

At the enormously increased price, James momentarily paused. It wasn’t enough to change his fate, but it was enough to never have to worry about money for the rest of his life. Sensing this hesitation, Erfina’s expression was filled with worry and anxiety.

“J, James…”

Hearing Erfina’s trembling voice, James took a long breath. He looked at her with a warm smile, as if he had relieved a burden from his heart.

“Erfina, don’t worry. I will never sell you to that guy.”

At those words, Erfina smiled so brightly that tears welled up in her eyes. But for Bumseok, who was watching, it was a declaration close to despair. He couldn’t help but get annoyed at the sight of him rejecting even such a large sum of money.

Of course, he admitted that her value was higher than the price he had offered. However, there was no way that James, who wasn’t a gladiator club official, would know such a thing. Wondering what the reason was, he raised his voice and asked.

“James. Why won’t you sell her? Is the amount I offered not enough to satisfy you?”

With a calm expression, James turned his head towards him.

“It’s not because of the amount. If Erfina were just any Elf, I would have sold her to you a long time ago. But she is a friend of my beloved lover. Would you sell such a friend carelessly?”

“Th, that’s…”

Bumseok was momentarily speechless. He wouldn’t have been able to sell her either in that situation. Well, there might be some who would do that for money, but he certainly wasn’t one of them. Still, Bumseok reached out his hand with lingering regret. But his last hope was dashed by James, who turned his back mercilessly.

In the end, he could only silently watch Erfina’s disappearing figure.

“Ah! I’m going crazy! Why couldn’t I have hurried a little more! Why did I hesitate in front of the auction house!”

Bumseok, who had entered the lobby of the Ellington City Cultural Center, grabbed his hair and blamed his mistake. If he had finished breakfast earlier, if he had hurried and run faster, and if he had checked the information window without any hesitation at the auction house… Erfina would definitely be his. But as fate would have it, she fell into the hands of an unexpected guy named James. Well, he seemed to be a guy who would make her happy because he seemed to have a righteous mindset, but unless Bumseok was Erfina’s biological father, this fact was not a consolation.

“Ah! Really! That annoying Erfina. Why did you act like that and make the final auction price 730,000 Krang! If it had gone up just a little more, I would have had a chance to participate!”

Now Bumseok’s resentment spread to Erfina. If she had shown her true self, the auction would have been more intense, and that much time would have been delayed. Then he would have had time to press the bid button, and eventually he, who had financial resources to spare, would have been able to own Erfina. This was because her sales closing time was the same as the time he launched the auction program. At the time, all Bumseok needed was a fleeting moment to press a button.

“Damn it! Damn it!”

People gathered around Bumseok, who was shouting and jumping around in the lobby, and looked at him strangely, but they were surprisingly calm. Instead, they gathered in front of the TV set up on one side of the lobby as if they were not interested in him, buzzing with serious faces. Occasionally, there were even people who tore at their hair with expressions of despair and shouted even louder than him.

Sensing an unusual atmosphere, Bumseok stopped ranting and approached them.

“– In response to this financial crisis, the federal government has promised to provide public funds along with immediate and decisive reform measures to prevent damage from spreading to other front-line banks. And in preparation for the upcoming unemployment crisis, it will invest huge government funds in the public sector and…”

“What is this? Did it finally go bankrupt?”

“It was touch and go, but it finally went completely bankrupt.”

Bumseok joined the conversation from behind the middle-aged gentleman who was talking with a dark expression.

“What’s going on?”

The middle-aged gentleman, dressed in a brown-toned suit, shook his head and said.

“Do you know TNB Bank?”

TNB Bank was a large bank ranked third in the world’s financial sector. It mainly dealt with deposit business and securities bonds, but it had recently expanded its business field of derivative financial products and was growing rapidly. He didn’t keep money there, but Bumseok knew it well because it was such a famous bank.

“Yes. I know it, but what’s wrong?”

“There were rumors that the financial world was in serious condition recently, but suddenly today, TNB Bank went bankrupt. I heard they messed up with derivative financial products, and thanks to that, it’s a mess right now.”

Supporting this, another middle-aged gentleman said.

“It’s all because of that guy, Marco Rex. Originally, TNB focused on its main business of deposit and loan, but when he made huge profits with derivative financial products, the bank actively supported him. But he wasn’t satisfied with that and secretly created a secret account to illegally trade in large quantities. Eventually, it went wrong in line with the recent financial crisis. The derivative financial products that he touched make a lot of money if the stock price rises or maintains the status quo, but if it falls below the standard, it incurs huge losses.”

“How much loss did they suffer that a large bank like TNB Bank went bankrupt?”

“Don’t be surprised, it’s a whopping 586 billion Krang.”

Bumseok had a blank expression. It was such a large amount that it was difficult to even comprehend. With that much loss, TNB Bank’s grandfather couldn’t have prevented bankruptcy.

“Ah, no, is that possible? There’s no way a bank would take such a risk and touch derivative financial products.”

“Of course not. But I told you earlier, that rotten guy created a secret account. He told the Soyu Elves [a fictional race known for their loyalty] he had hired with his influence to hide a large amount of bank funds in that account. Of course, it wouldn’t be caught in the audit, so he went wild as much as he wanted.”

“Then what is the financial authorities doing? There must have been a huge transaction, so they should have informed TNB Bank of this fact.”

“Of course they informed them. But since they had already finished the transaction, they could only say that the bus had left [meaning it was too late]. In the end, the bank executives had no choice but to remain silent even knowing his illegal activities. If this fact was known to the outside world, depositors would withdraw a large amount of funds due to anxiety, putting them in further crisis. And they also believed in Rex, who had brought great profits to the bank during that time. In fact, if successful, the bank’s profit from this transaction would have been close to astronomical figures. It would have laid the foundation for rising from the perennial third place to the top of the financial world.”

Understanding, Bumseok made a gesture of agreement. In a situation where they could obtain huge rewards even if it was dangerous if they remained silent, there was no manager in this world who would honestly confess and ruin the bank.

“Hoo. I see. Then what happens now?”

“What else? It’s a time of suffering from now on. You should think that this year or next year is a write-off and stay quiet. Don’t even think about participating in such auctions and spending money.”

“Why? Isn’t it just one bank that went bankrupt?”

The middle-aged man chuckled and patted Bumseok’s shoulder.

“How nice would it be if it was just that, as you said. But looking at the interconnectedness of banks, it’s absolutely not. Usually, banks hold various financial products in conjunction with other banks for safety. But something that had no relationship at all usually turns into a huge non-performing asset and puts pressure on the lifeline when a large bank like this collapses. It’s like falling together when the person you’re shoulder-to-shoulder with falls.”

“So, are other banks also in danger?”

“Are you saying that even after watching the news? Why would the government support public funds to healthy banks? It’s because they know they’re all going to be in danger, so they’re making a fuss in advance.”

Feeling uneasy, Bumseok continued to ask questions.

“But what does the fact that banks are in danger have to do with me not participating in the auction?”

“This frustrating young man. The bank is in crisis. There are too many non-performing assets and they need huge funds to prevent this. Then what action will the bank take?”

Even Bumseok, who had little economic knowledge, couldn’t not know this.

“Well. They’ll try to get money by any means.”

“That’s right. But what is the easiest way for a bank to get funds in this situation? It’s to recover the funds released in the market. In other words, they’re squeezing the pockets of people who borrowed money from the bank. Then the money circulating in the market will dry up, which will lead to a contraction in consumption. Then corporate sales will plummet, and companies will reduce investment and cut employees through restructuring to survive. And consumers who have lost their jobs are tightening their belts even more, creating a vicious cycle.”

“Th, that’s right.”

“So now you should come to your senses and go home. There’s no point in lingering here. Unless you have a lot of money…”

“Why is that?”

“You can buy things cheaper than ever. Especially in this used market… Because companies or individuals will put real estate or assets they own on the market at ridiculously low prices to survive the economic crisis.”

Bumseok’s head felt like it was breaking after hearing the advice of the middle-aged men. Too much complicated economic talk came out like a flood, so even if he listened, almost nothing registered. The only thing he remembers now is the last thing he heard, that he can buy things very cheaply. But for Bumseok, whose desire to buy has decreased significantly due to the Erfina incident, it was irrelevant.