The Magician’s Memorial - Chapter 398
Only Krnovel
398. Extortion (3)
Kanos’ reputation was not a lie.
He drove hedge funds into bankruptcy in just two weeks.
Kanos was ripping off hedge funds in such a radical and ignorant way that even a CEO who had been in the financial world his entire life was surprised.
“There is talk on Wall Street these days that Kanos is crazy. Some even call him the Reaper of Wall Street.”
“Two weeks ago, you were said to be a traitor to Wall Street, but now you have become the messenger of Wall Street.”
“But wouldn’t it be better to be a traitor or a reaper than a failure?”
“It’s much better. In fact, they say the size of the Canos fund is getting bigger.”
“I think it gave me confidence that even if I betray and swing my sword like a fool, I won’t lose any money.”
The convert was originally the most cruel way to move.
In order to prove his worth, he had to achieve higher performance than anyone else, so Kanos brutally squeezed hedge funds to prove his usefulness to me.
Thanks to this, Taewoo Group’s wallet situation has improved significantly.
Taewoo Securities made a huge amount of money through the oil war and even robbed hedge funds through short selling, making profits close to 10 times in one year.
“Enough is enough with oil, now is the time to change the focus.”
“Are you quitting the oil business already? We’re still making a lot of profit.”
“The era of low oil prices will continue for some time. Oil prices will move like waves, but they are very gentle waves.”
“It’s hard to catch big fish in calm waves.”
Of course, it was not a complete abandonment of the oil industry.
The oil industry also had a kind of cycle, and in a few years, there would be an opportunity to make more money than now.
Until then, we had to find other prey, and our next prey was China.
“Is things going well on the Chinese side?”
“Some of the money earned from the oil war was deposited in China in advance. And the money stolen from short sellers is also being diverted to China.”
“We have to tear off a lot of money this time. Now we can enjoy the protection of high-ranking Chinese people, but in a year or two, we will no longer be able to do so.”
“Is this because of THAAD?”
The THAAD deployment problem was beginning.
China was strongly opposed, and because it had not yet been deployed, no major clashes occurred.
But after THAAD is deployed.
China was about to start a ban on Korea, and even the high-ranking officials of the Chinese Communist Party could not just blindly protect the Taewo Group.
Of course, the ties with the high-ranking people would not be completely severed, but it was clear that it would not be possible to move as openly as now.
“Starting with THAAD, the relationship between Korea and China will continue to deteriorate. And China is now trying to show off its power to become a hegemon. So, it will try to put pressure on Korea, which seems easy.”
“If we look at the current momentum, it could happen, but the economic situation does not look very good. Since the chairman said that China would be the next target, we have been focusing on understanding China’s economic situation.”
“What does President Han think is the situation in China?”
It was a president who was swallowing his saliva.
Because the Chinese economic situation was so complex, it seemed difficult to explain easily.
“The economy is continuing to grow, but it is growing as if things were piled up without a strong foundation. It looks like it will collapse at the slightest shake. However, because it is China, we cannot make hasty conclusions. The domestic market is very large, and exports are also growing. “It doesn’t look like it’s going to completely collapse because it’s a place where a lot of work is done.”
“It won’t completely collapse. But on the other hand, since the size of the market is so large, wouldn’t there be a huge amount of soybean water falling out even if shaken just a little?”
“It looks like the whole box of rice cakes will fall, not the beans.”
The possibility of China’s economy completely collapsing was not high.
However, China was a market so large that even if it was shaken, huge profits could be made.
“President Han, do you remember? The moment we first started working under the name of Mr. Master’s dedicated team.”
“Of course I remember. It was the first time the Chairman and I met. How could I forget? Even now, I sometimes have dreams about what happened during our time on Master’s special team.”
“You might also remember where the Japanese economic bubble started.”
“The loan cap system was the starting point. Of course, there are hundreds of reasons for the bubble, but the loan cap system served as a signal to bring out all the problems.”
Perfect!
I snapped my fingers and shouted out the correct answer.
“That’s right. There’s talk that China will soon start a loan cap system as well.”
“Do you think the same will happen in China as the Japanese bubble burst?”
“It won’t be that big because the scale is so different. But it’s clear that a lot of money will evaporate in a short period of time.”
“It would be a shame if the money evaporated. We will try to collect the funds that Taewo Group has evaporated as much as possible.”
It was a CEO who was shaking his hands and sweeping the air.
For someone who will become vice president in the future, he seemed quite frivolous.
“As you know, since March of this year, you have been able to short sell stocks listed in Shanghai on the Hong Kong Exchange.”
“Are you talking about the Hujiangtong short selling system? China is certainly making constant efforts to attract foreign funds.”
Postcolic pain.
‘Hu’, the Chinese character for Shanghai.
And ‘Gang’, which means Hong Kong.
And Tong, meaning to communicate with each other, was a system that allowed Hong Kong and Shanghai to communicate.
Foreign capital comes in through Hong Kong.
It was now a system that made it easy to trade Shanghai stocks in Hong Kong.
It was a system that came out at the perfect time.
An opportunity to collect funds that were evaporating in China presented itself.
“Starting with real estate, there will be a lot of stocks hitting the lower limit, such as IT, smart device industry, software, etc.”
“Hugang Tong has a limit on the amount of short selling. So, we will make thorough preparations so that we can directly short sell not only in Hong Kong but also in the Shanghai stock market.”
“How much money can we put into the Chinese stock market?”
“Taewoo Securities will invest $30 billion, and the entire financial hub tower is expected to be worth more than $60 billion.”
60 billion dollars.
An astronomical amount of money, close to 80 trillion won, will hit the Chinese market.
The $60 billion would act as a kind of collector, sucking money out of the evaporating Chinese stock market.
“Financial tower financial companies are investing a larger amount than expected.”
“I thought it was surprising, too. Since they have never suffered a loss while working with us, they seem to have decided to make a bold investment this time. And they seem to have decided that there is a lot of pie to eat in China, as opposed to anywhere else.”
The financial companies in the financial tower were already accustomed.
Their mouths were open like baby birds waiting for food from us, and we were able to mobilize funds on a huge scale by mobilizing their funds as well.
“Anyway, are you getting good training as vice president?”
“Thanks to Vice Chairman Park Man-deok’s excellent guidance, everything is progressing smoothly. However, there are strange rumors floating around in the market.”
“What is this rumor?”
“It is a rumor that I control Taewoo Group’s money. I don’t know why there is a rumor going around that everything from money invested in affiliates to company reserves will not move at all without my permission.”
Why are you wandering around?
It is spreading because Captain Kang and the planning director are working hard to spread it.
In order for President Han to be promoted to vice president, it was necessary to make him believe that he was in control of Taewoo Group’s finances.
“It’s not a bad rumor. Before entering the Chinese market, wouldn’t it give you more power if you were appointed vice president? I think the inauguration ceremony should be held quickly.”
“If you say quickly, when are you planning?”
“We plan to hold the inauguration ceremony on the 1st of next month at the latest.”
“It’s too early. Did Vice Chairman Park Man-deok get into some kind of accident? Did he commit embezzlement or corruption and need to be replaced quickly?”
I couldn’t give an exact answer.
How can they say that the inauguration ceremony is being brought forward so that President Han Man-deok, instead of Vice Chairman Park Man-deok, can take the blame for future scandals?
“You are now old enough to retire. Vice Chairman Park also said that he would like to retire as soon as possible. How can you stop him when he says he wants to go to Southeast Asia where the honorary chairman lives and enjoy a comfortable retirement life?”
“Certainly, Vice Chairman Park Man-deok’s expression has looked very bright these days. Usually, he just walks around with a frown on his face, but these days, he’s even humming.”
“Vice Chairman Park’s salary was the highest in the industry. He earned so much money, but didn’t have time to spend it. So wouldn’t he want to retire quickly and enjoy the fun of spending money?”
Taew Group Vice Chairman’s annual salary exceeded 3 billion won.
Moreover, even if he resigns from his position as vice president, his salary will continue to be maintained since he will take on the position of general manager of the Southeast Asia branch.
Who wouldn’t like it when you get the same amount of money and can relax?
Vice Chairman Park Man-deok also had no regrets as he rose to the highest position, Vice Chairman, as a salaried employee.
“We will proceed with the handover as quickly as possible. Taewoo Securities will also prepare for the inauguration ceremony.”
“Please discuss the issue of the inauguration ceremony carefully with the planning office. Please make it bigger than any other event held by Taewo Group so far. So that it feels like starting a new life rather than being kicked out of Taewu Group.”
“We will hold a grand event comparable to the inauguration of the President!”
There was another reason to promote President Han to vice president.
Only when his position was higher and he had more authority could he have a president as the face of his future business.
That’s why we had to promote President Han to vice president as soon as possible.
I had to appoint the new president of Taewoo Securities as someone who suited my tastes.
* * *
A few days later.
The planning director came to the office to report for the first quarter.
“Sales of automobile, semiconductor, and electronic affiliates are steadily increasing. And Taewo Construction, which was the first to introduce the pre-sale system, is showing very high performance.”
“It looks like real estate prices have risen a lot.”
“Real estate prices began to rise slightly last year, and have been rising at a fairly rapid pace this year. According to the Planning Office’s forecast, real estate prices are expected to rise by more than 10% this year.”
The construction industry has had its worst year in years.
That’s why they didn’t try to build apartments, and that’s why Taewo Construction was able to take on the bulk of apartment construction.
Pre-sale is no longer a problem.
When the real estate market starts to rise in earnest, people will want to buy an apartment even if it means taking on debt.
“I think Taewoo Construction will have a lot of fun this time.”
“We have been able to firmly establish ourselves as number one in the contract rankings. We have now surpassed the second place company by a large gap, and have become Korea’s number one construction company in name and reality.”
The only construction company that invested during the crisis was Taewoo Construction.
Of course, it was possible because of the strong financial support of Taewoo Group, and now the harvest time has arrived.
“The price of land owned by Taewoo Engineering & Construction will likely rise significantly.”
“The price of land purchased during the real estate recession began to fluctuate. If we look at Taewoo Engineering & Construction alone, it has reached the point where it could rise to the top 20 in the business world.”
“You have to earn a lot now so that you can survive without support from the group even if a recession comes again. Please help us create such a system.”
“I will do so. And I received a call from the Blue House. They said they would like to invite executives from 10 major corporations to a dinner party.”
“This will be President Han’s first official participation in the event since taking office as vice president.”
The work of the Blue House was now the responsibility of President Han.
If you hold a grand inauguration ceremony and attract public attention, the Blue House will not have an issue with a president attending the dinner party.
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