The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 47

#047

Jeong-hoon looked at Lim Cheol-soo with a playful expression.

Lim Cheol-soo felt a pang of envy at the playfulness on his face, but he couldn’t deny what Jeong-hoon said.

The only grandson of Hyun Jeong-ok, rumored to have over a trillion won in cash.

It was clear that even if he lost everything, it wouldn’t be a problem.

Nevertheless, Lim Cheol-soo couldn’t understand.

This Jeong-hoon was so different from the one he knew.

Jeong-hoon never acted recklessly, but…

“Think about it one more time. I’m not saying you’re wrong, but a hundred billion is too much money to just throw away. To put it bluntly, hundreds of people have jumped into the Han River [a common euphemism for suicide in South Korea, often due to financial ruin] because of options trading.”

“There are just as many people who have made a fortune with options trading.”

“Hey, I’m not kidding. The KOSPI [Korea Composite Stock Price Index] is approaching 600 this week, so buying a 500 strike price is too risky. If the KOSPI doesn’t go below 500 next week, it won’t even be worth using as toilet paper. It’ll just disappear.”

“We’ll find out next week.”

“Sigh, I still can’t agree to this.”

Lim Cheol-soo’s voice was filled with frustration.

Thinking it was necessary to be firm, he made one last strong appeal.

“No, absolutely not. This is really throwing money away. I’m advising you as your father’s friend. Really.”

“Legend Company CEO, who is the major shareholder?”

Jeong-hoon asked him in a firm voice. Lim Cheol-soo, startled, hesitated before answering.

“That’s you, but I’m speaking as your father’s friend right now.”

“I’m not here as the son of a father I don’t even know… I’m speaking as the major shareholder of Legend Company.”

Lim Cheol-soo’s face instantly turned cold. It was the moment he faced the fundamental relationship between him and Jeong-hoon.

The passion to give advice vanished in an instant, and everything turned cold.

“If the owner of the company tells me to throw money into the incinerator, that’s what I have to do. That’s my job.”

“There’s no need to be so disparaging. Think of X.com, which changed its name to PayPal.”

“That’s… this is a different situation.”

Lim Cheol-soo’s sharp voice was tinged with annoyance.

“It’s not different. Didn’t we see a 30-fold profit from a bold investment in an uncertain situation?”

Lim Cheol-soo only blinked as he looked at Jeong-hoon. There was nothing wrong with what he said.

“It’ll be decided next week. Who will win.”

“I also want to see you win,” Lim Cheol-soo said in a dry voice as he packed his bag.

Then, he left the room without even saying goodbye.

Jeong-hoon couldn’t back down either.

With the opportunity of a lifetime coming, this wasn’t a situation where he could be tied down by the constraints of his father’s friend.

And he thought it was necessary to clearly define the relationship between him and Lim Cheol-soo at least once.

***

Lim Cheol-soo was unpleasant, but he had no choice but to follow Jeong-hoon’s instructions.

He calmly reflected on the miraculous achievements that kid had shown so far.

It wasn’t just the reconstruction project.

He had made dozens of times his profit from the PayPal investment last time.

Thanks to the buzz around a listing next year, the stock price is around $10 on the over-the-counter market.

A 30-fold rate of return already.

It’s not an easy rate of return to obtain.

Moreover, he is still a minor…

Because of that, he decided to follow Jeong-hoon’s opinion, even if he couldn’t fully respect and support it.

Besides, even if he lost all the money he had now, it wouldn’t be a big problem since he is the grandson of the Cash King, right?

Lim Cheol-soo organized his thoughts and then entered the building towering in front of him.

“Hello, I’m Lim Cheol-soo, CEO of Legend Company.”

“Yes, I’m Jeong Seong-hoon, Director of Dongseo Securities.”

After exchanging business cards and briefly greeting each other, Director Jeong Seong-hoon asked.

“Are you sure about this? It expires next week.”

“Yes… there’s no choice.”

“‘There’s no choice’ means you don’t want this either, right?”

“The only person in Korea who wants this would be our company owner.”

“The major shareholder is…”

“Yes, it’s a foreigner with too much money… It’s a bit difficult to go into detail, ahem.”

“I understand. It’s okay if you’re having trouble speaking.”

“Okay, please put your corporate seal here.”

“Thank you.”

Director Jeong Seong-hoon of Dongseo Securities secretly cheered as he watched Lim Cheol-soo stamp the seal.

He could see his performance bonus rising.

He looked at CEO Lim Cheol-soo, who was stamping the seal, with pity.

Even the CEO is swayed by the opinions of major shareholders and has no choice but to make such absurd deals.

He felt the sorrow of an office worker.

“Here you go.”

“Thank you.”

Lim Cheol-soo took the documents and hurried out of Dongseo Securities. Next, he went to Ilsong Securities and signed the same contract.

The last remaining place, he stood in front of the building where Heaven Securities was located.

Heaven Securities, located in the Heaven Group headquarters.

That’s how crucial a role it played in the group.

Having already experienced two sneers, Lim Cheol-soo lowered his head and entered the building.

“I’m Cheon Jin-hyeok. Nice to meet you. The contract you requested over the phone is already prepared.”

Lim Cheol-soo was surprised to see Cheon Jin-hyeok’s face.

He never expected a member of a chaebol [a large South Korean business conglomerate] family to come out himself.

“Thank you. I didn’t expect you to come out yourself.”

“I came out because the CEO said he was coming in person. Isn’t 5 billion an important deal?”

“Thank you.”

Cheon Jin-hyeok looked at Lim Cheol-soo carefully.

There didn’t seem to be anything suspicious.

He seemed like a typical CEO, and his skills could be seen in the sharp and keen eyes that were revealed from time to time.

The calm atmosphere suggested prudence rather than overconfidence.

“Is Jeong-hoon doing well?”

Lim Cheol-soo stared intently at Cheon Jin-hyeok’s face.

“Who are you talking about?”

“Oh, I’m sorry. I was mistaken.”

“Ahem, that’s a strange question. I’ll have to review the documents again for a moment.”

Lim Cheol-soo answered unpleasantly and then reviewed the documents.

He recalled what Jeong-hoon had told him in advance.

‘They may bring up my name or try to find out my relationship with them. You have to deny it no matter what.’

Lim Cheol-soo clicked his tongue at Jeong-hoon’s ability to see several moves ahead, enough to set up a stall on Miari Hill [a reference to someone being very shrewd or cunning].

“Hmm…”

Cheon Jin-hyeok carefully observed Lim Cheol-soo’s face.

He could see on his face that he was hesitant to make the deal.

He thought that he might change his mind.

“CEO, if you don’t mind, could you please sign? I have something to report to the chairman.”

“Ah, yes. I’m sorry for making you wait. I’ll sign right away.”

Lim Cheol-soo took the fountain pen that Cheon Jin-hyeok gave him and signed the contract.

Cheon Jin-hyeok cheered inwardly at the sight.

In a situation where every penny was precious, 5 billion won of windfall came in.

That’s why he came to this place himself.

It was an opportunity to make up for his past mistakes, even if only a little.

“Then I’ll get going now.”

After Lim Cheol-soo left, Cheon Jin-hyeok also headed to the chairman’s office.

5 billion won, a small amount, but it would help the serious financial situation even a little.

He had to report to his father quickly.

“Chairman. It’s Jin-hyeok.”

“Come in.”

Chairman Cheon Sang-soo was staring blankly out the window.

He had to think of a way to overcome the group’s crisis, but he couldn’t because his head was throbbing.

“Chairman, we’ll have 5 billion next week.”

“Where did 5 billion come from all of a sudden?”

“We signed an option contract with Legend Company that is not feasible.”

“Legend? What do they do?”

“Nothing is known yet. There is a rumor that it is a hedge fund based in the United States. Their investment tendency seems to be quite aggressive.”

“I guess the CEO likes to gamble. But what is that infeasible option contract?”

When Cheon Sang-soo was informed of the contract terms, his worried expression eased.

“The KOSPI has to fall by more than 10 percent next week, is that possible?”

“That’s never happened in my life. No, it hasn’t.”

Cheon Sang-soo was grinning from ear to ear at the thought of getting 5 billion won for free.

Suddenly, anxiety crept in.

“It’s not related to Yoon Jeong-hoon, is it?”

“Yes, I asked him casually, but he looked completely clueless. And I investigated just in case, but I couldn’t find any connection at all.”

“Okay, good job. We’ve managed to breathe with the group’s financial support, but the situation is not easy. Prepare about 10 guys who are good at manipulating stock prices. This time, increase the size a bit. If we do 100 billion a few times, we can easily overcome this crisis.”

“Shouldn’t we be careful?”

“Caution is for when you’re alive. Can’t you see that I’m on a ventilator right now?”

Cheon Sang-soo’s voice was tinged with annoyance.

“I understand. I’ll prepare as soon as possible.”

He was worried about his father rushing too much, but it was an unavoidable situation.

That’s how precariously Heaven Securities was flickering like a lamp in the wind.

***

Kwon Young-soo, the former vice president and current employee, was sitting at his desk in the hallway with a pleasant and relaxed mind. Hong Young-ho brought him a mixed coffee [a common type of instant coffee in South Korea].

“Senior, have a cup.”

“Okay, thank you. Aren’t you busy? Even bringing coffee to someone who’s not in a key position and just guarding the hallway?”

“I’m busy. But I heard a more interesting story than being busy.”

“What is it?”

“Well? Oh, I had a drink with Director Park of Ilsong Securities yesterday, and he said a crazy fool has appeared in Yeouido [the financial district of Seoul].”

“What fool? What are you talking about?”

Kwon Young-soo had a curious expression on his face.

“Apparently, there’s a hedge fund that bet 10 billion on this week’s KOSPI put options.”

“10 billion?”

“Yes. They signed contracts with Dongseo Securities, Ilsong Securities, and Heaven Securities.”

“What’s the strike price?”

“KOSPI 500.”

“Pfft, then they must have already lost it all. There are only two days left.”

“That’s right. Ah, that fool should have come to us.”

“I know, it’s a shame.”

Director Hong Young-ho and former Vice President Kwon Young-soo clicked their tongues as if they were disappointed.

They know very well how fun it is to take advantage of fools.

“Director Hong.”

Turning his head at the sound of someone calling him, he saw President Yoon Jeong-hoon looking at him.

“Yes, President.”

Director Hong, who was leaning on employee Kwon Young-soo’s desk, stood up, and Kwon Young-soo, who was sitting in his chair, also jumped up and bowed deeply.

“Have you come out?”

“Yes.”

“What time is it now?”

Director Hong, with a bewildered expression at the sudden question, checked his watch and answered.

“It’s one o’clock.”

“Then sell all the stocks our company has right now.”

“Yes? Now?”

“Yes. Right now.”

Director Hong heard President Yoon Jeong-hoon’s words, but he couldn’t bring himself to carry them out.

“President, if we dump all of that, the exchange will be in an uproar.”

“Don’t worry about that and just do it.”

“…”

Jeong-hoon looked at Director Hong, who didn’t answer.

His hesitant appearance was evident.

Director Hong didn’t want to go against the president’s orders if he could help it.

The president, who was unusually thoughtful for his age, had an aura that all the employees followed naturally.

However, selling all the stocks was unprecedented since the company was founded.

It was the president’s order, so he had to carry it out, but he was conflicted.

“Employee Kwon Young-soo.”

“Yes, President.”

“What would you do if you were Director Hong?”

“If I were him… I would sell them. He must have said it because there is a clear reason. I think he’s moving with confidence.”

Jeong-hoon thought as he looked at Kwon Young-soo, who had given a textbook answer.

‘He’s better at flattery than I thought?’

“Ahem, even so, President, shouldn’t you think about it one more time?”

Director Hong pleaded earnestly once again.

At that time, Managing Director Choi Joon-ki passed by and greeted Yoon Jeong-hoon.

“What are you all doing here?”

“Ah, you came at the right time, Managing Director Choi Joon-ki. If I told you to sell all the stocks the company has right now, what would you do?”

“All of them?”

Choi Joon-ki asked back with wide eyes.

“Yes. All of them. Without leaving anything behind.”

After thinking for a moment, he opened his mouth.

“I would sell them.”

Director Hong, who was flustered by the unexpected words, looked at Managing Director Choi Joon-ki with a bewildered expression and opened his mouth.

“Really? All of them?”

“Yes.”

“The exchange will be in an uproar. It could raise suspicion.”

“That’s the exchange’s business, and it’s not fraud or a crime, so it doesn’t matter.”

“What’s the reason?”

“That’s… isn’t it the president’s order?”

Hong Young-ho, embarrassed by the gazes of the three people who were looking at him strangely,

looked at Yoon Jeong-hoon and said loudly.

“I’ll sell them all right now.”

“Good.”

After hearing those words, Yoon Jeong-hoon said a short word and then left the place with a satisfied expression.

“No, what’s wrong with everyone? The president’s gone, so tell me honestly.”

“What is it? If he told us to sell, we sell. There’s a reason we don’t know. Always.”

Choi Joon-ki said that there was a reason and then disappeared.

“Senior Kwon?”

“Managing Director Choi is right. Looking at what our president does, including the investment competition, there’s always a reason. I can’t understand it, but it’s never been wrong, so I have to trust and follow him. Isn’t that right?”

“That’s true, but… it’s too absurd.”

“Hmm, aren’t there people who live in such absurd ways sometimes? We call those people geniuses.”

Only then did Director Hong Young-ho nod his head.

He looked at his watch.

“I understand. Senior. Then I’ll be on my way.”

“Okay, don’t worry too much. It’ll always be okay.”

“Yes, Senior.”

Employee Kwon Young-soo sat back in his chair in the hallway and looked at the empty wall.

And he pondered President Yoon Jeong-hoon’s decision to sell all of his holdings.

Although he couldn’t know his reasoning, he could faintly feel that a typhoon was coming.

He began to look forward to how big a typhoon the movement of the genius Yoon Jeong-hoon would bring.

***

From 11 p.m. on September 11, 2001, breaking news subtitles continued to scroll across the bottom of Korean TV screens.

Four U.S. passenger planes were simultaneously hijacked by terrorists.

Two of these passenger planes collided with the twin towers of the New York World Trade Center.

In less than two hours, the 110-story twin towers collapsed and disappeared into a huge cloud of dust.

People who saw this scene broadcast live around the world were shocked, and al-Qaeda, an Islamic extremist group, flaunted their existence with devilish terror.

The United States announced an indefinite trading halt to protect the stock market, which was plummeting at the same time as the major disaster occurred.

The Cash King’s Genius Grandson Becomes a Chaebol