Golden Spoon Investment Portfolio - Chapter 14

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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14. Just as I expected—he’s got my guts, that one.

Mapo Daeheung Group Headquarters.
Chairman Park Tae-hong, having arrived at the office, removed his jacket and handed it to the Female Secretary.
Then, watching Chief Secretary Gil Seong-ho follow him in, he spoke.

“Did you see the morning paper today?”
“You mean Britain’s sudden withdrawal from the ERM, sir?”
“That’s the one.”

Chairman Park Tae-hong nodded slightly and settled into an antique sofa positioned to one side of his office.

“Who would have thought that mighty Britain would buckle so helplessly under the assault of Global Hedge Funds?”

Chief Secretary Gil Seong-ho, moving to the right side of the sofa, seated himself and picked up the thread of conversation.

“I sensed the atmosphere was unusual, but I never anticipated such an outcome.”
“I imagine most people felt the same way.”

Indeed, even as Wall Street titan George Hamilton publicly targeted the pound and Global Hedge Funds launched their assault, the majority believed the Bank of England would ultimately prevail.
The British government and Bank of England Governor Arthur had both insisted, right up until morning, that pound devaluation—let alone ERM withdrawal—was absolutely out of the question.
Yet in less than a day, everything had been turned upside down.
The Female Secretary, having hung the jacket on the rack, looked at Chairman Park Tae-hong and asked.

“Shall I prepare some tea for you?”
“Yes. Make it a sweet coffee.”
“Of course.”

Chairman Park Tae-hong’s preference was for coffee in the traditional café style—generously sweetened with sugar and cream.
The Female Secretary, well aware of his taste for sweets despite his sharp, angular features, bowed slightly and stepped out.
Chairman Park Tae-hong leaned back against the plush sofa and asked.

“What’s the pound trading at now?”

Chief Secretary Gil Seong-ho, having anticipated the question and checked beforehand upon arrival, answered immediately.

“Following the decline in the United States, Asian foreign exchange markets continue their downward trend, with the pound currently trading around 1.29 dollars.”
“How much was the pound worth when the second one invested in it?”
“It was 1.43 dollars per pound.”
“So how much did the second one make from this?”
“The current return is approximately 9 percent, so if he invested all of the prize money, he would have made about 10.8 million dollars in profit.”
“Heh.”

Upon hearing the sum, Park Tae-hong let out an involuntary chuckle.
Then he turned to Gil Seong-ho and spoke.

“Director Gil.”
“Yes.”
“Last month, Midopa Department Store’s net profit was around 40 billion, wasn’t it?”
“That’s correct.”
“Yet he earned a substantial sum equivalent to one-fifth of our group’s flagship subsidiary’s monthly net profit in less than a month. Can you believe it?”

Beneath the tone of admiration and surprise lay a subtle note of pride.

“I think it’s truly remarkable as well. The second young master must have inherited the chairman’s blood and has a talent for investment.”

In reality, using leverage, he was generating far greater profits than either of them imagined.
Had they known the actual amount, their jaws would have remained agape.

“I was puzzled when he suddenly invested such a large sum in pounds, but now I suspect he anticipated this outcome and placed his bet accordingly.”

Gil Seong-ho harbored similar thoughts.
Of course, regardless of whether that was true, Gil Seong-ho instinctively deployed his social skills in response to Park Tae-hong’s evident desire to boast about his son.

“I agree. The second young master is studying business administration at Harvard University, so perhaps he perceived something we overlooked and acted first.”

Park Tae-hong’s face lit up with satisfaction—exactly what he wanted to hear.

“That’s right, it must be so. He’s truly my son! Even as a child, he was remarkably intelligent and quick-witted. Just look at the fact that he got into Harvard, which is so difficult to enter.”

Park Tae-hong nodded with a warm smile playing at his lips.

“I had a feeling something would come of it from the moment he said he was betting on the pound. He’s not the type to recklessly squander such a large sum without thought. There was a plan behind it all. Yes.”

Gil Seong-ho listened quietly, but internally he had to swallow his sense of bewilderment.
He clearly remembered Park Tae-hong flying into a rage right here after hearing the report from Son Dong-sung, the US branch director—so what exactly had he known back then?

“No matter how confident you are, pushing over a hundred million dollars in one go? That kid really takes after me—he’s got guts. When he sees an opportunity, he has the drive to seize it. Wouldn’t you say?”

Park Tae-hong chuckled as he spoke, whether boasting about his son or himself was unclear, but his gaze toward Gil Seong-ho carried a subtle pressure.

‘His tone is quite different from last time.’

A retort rose unbidden to Gil Seong-ho’s throat, but years of navigating corporate life had honed his survival instincts, and his mouth moved of its own accord.

“Indeed. Your eldest son is dependable, and your second son is sharp—both clearly take after you, Chairman. There’s truth to the saying that blood doesn’t lie.”
“Ha, that’s right?”

As Gil Seong-ho offered his agreement naturally without hesitation, Park Tae-hong’s face broke into a satisfied smile.
As a warm atmosphere settled over the room, the Female Secretary who had stepped out briefly returned with coffee, set it before Park Tae-hong, and withdrew.
Park Tae-hong picked up his cup, took a sip of the sweetened coffee to his liking, set it down, and spoke.

“From what I’ve seen, my second son seems to have a talent for finance. What do you think?”

Gil Seong-ho recognized this was more than a casual question and answered carefully, gauging Park Tae-hong’s expression.

“We should observe a bit longer, but he certainly appears to have an instinct for it.”
“You can see the whole from a part—he definitely shows promise.”

Park Tae-hong leaned back in his chair.

“Once he graduates soon and returns to Korea, I’m thinking of having him work in finance.”
“However, we don’t have a financial company among our subsidiaries. Are you perhaps considering sending your second son to another company to gain experience?”
“No, that won’t do.”
“Then….”

Park Tae-hong’s expression turned grave, and he clasped his hands together as he spoke with weight.

“Now that we’ve risen to rank thirtieth among major conglomerates, shouldn’t we have at least one financial company?”

Gil Seong-ho’s eyes widened in surprise at this unexpected revelation.

“Are you planning to acquire a financial company?”
“Yes.”

Park Tae-hong nodded and spoke matter-of-factly.

“With massive inflows of foreign investment capital, the stock market has been experiencing tremendous growth lately.”

Since January of this year, the government had been advancing financial market modernization, partially opening the stock market that had previously been restricted.
Though a ceiling had been set at 10% of total issued shares for listed companies, as foreign investment capital flowed into the domestic stock market for the first time, stocks surged and the market flourished.

“As you say, many analysts predict the market will break through 1,000 points within a few years, so conditions are certainly favorable.”

With the KOSPI currently fluctuating around 600 points, reaching 1,000 would represent nearly a doubling of growth.

“Looking at the current market sentiment, that forecast is hardly excessive.”

Park Tae-hong continued, glancing at Gil Seong-ho.

“There’s talk that the bond market will also be partially opened in two years. When that happens, the financial market will expand three or four times beyond its current size. In short, there will be far more opportunities to profit.”
“That’s likely. The entry of foreign investors means the market will be flush with capital.”

Gil Seong-ho nodded in agreement.

“Exactly. A chance to make serious money is right in front of us, and only a fool would ignore it.”
“That’s certainly true.”
“And given that our group’s mainstay textile business is seeing declining profit margins, we need to urgently find new revenue streams beyond the department store.”

Though Daheung Group had grown substantially through cotton and textile operations, changing domestic and international conditions were gradually pushing it toward its limits.
To break through this constraint, the group had been acquiring various companies and diversifying its business portfolio, but aside from the department store, it hadn’t yet achieved significant results.
Entering the financial sector could serve as a new breakthrough.
Gil Seong-ho, who understood the group’s internal situation better than anyone, nodded in acknowledgment.

“Then I’ll look into what suitable acquisition targets are available.”
“The cunning operators at the Federation of Korean Industries are probably thinking the same way, so move quickly before other groups beat us to it.”
“Yes.”

Gil Seong-ho rose from his seat with a brief reply and left the office.
Alone now, Park Tae-hong picked up the teacup before him and drank the coffee that had already grown lukewarm.
His personal physician constantly nagged him about taking care of his health at his age, but he found it difficult to cut back on cigarettes and coffee.

“Coffee really does taste better with a bit of sweetness to it.”

They kept telling me not to add sugar, but then what flavor would there be to drinking coffee at all?
Come to think of it, that second son of mine always drank nothing but pitch-black coffee like poison—there had to be something wrong with his palate.

“Hmm.”

Park Tae-hong, recalling his second son’s face, stroked his chin thoughtfully and murmured to himself.

“If he demonstrates the skills I’m expecting, I could always spin off a brokerage firm for that second rascal later.”

A faint smile played at the corners of Park Tae-hong’s mouth as he spoke to himself.

* * *

Cambridge, Massachusetts.
As the sun dipped low on the horizon, Seokwon, now sitting at what had become his usual outdoor table, kept scratching at his left ear, which had been itching since earlier.

“Someone must be talking about me…”

Seokwon frowned and smacked his lips before unfolding the Wall Street Journal he’d just purchased.

[British Pound Plummets Catastrophically!
As of the 18th, the British pound has continued its freefall, dropping to as low as $1.18 per pound.
Experts predict this downward trend will persist for some time due to the shockwaves from Britain’s decision to exit the ERM.
On the 16th, the British government abruptly announced its withdrawal from the ERM, abandoning its previous policy of fixing the pound at $1.60 per euro.
As the pound’s value falls, import prices are expected to surge, driving up inflation and weakening export competitiveness.
Meanwhile, Global Hedge Funds, led by George Hamilton, which played a decisive role in this crisis, are reported to have reaped enormous profits from the pound’s collapse.
In response, the British government is….]

“At this rate, it’ll drop below a dollar in no time.”

The pound’s collapse was far more rapid and steep than what I’d originally anticipated.

“It seems my involvement is having a significant impact.”

Everything else remained the same—the only variable that had changed was my presence, so the likelihood was considerable.
In fact, because of it, George Hamilton’s phantom fund poured more capital into attacking the Bank of England faster than originally planned.
On top of that, Salomon Brothers, taking notice of the returns I’d generated, injected a staggering ten billion dollars, driving the pound down even further.

“The lower the pound falls, the greater the returns will be, so the Global Hedge Funds will press down on it with ruthless determination.”

For the already struggling British government, it was a hellish situation that made one’s teeth grind.
But the international financial market was a ruthless world of survival of the fittest—one where the slightest sign of weakness invited a vicious attack—so in a sense, it was an inevitable outcome.
In this atmosphere, it seemed I could lower my target price a bit, but I shook my head.

“As the saying goes, excessive greed invites disaster. It’s best to stick to the original plan.”

Even lowering by just one cent and liquidating my position would yield several million dollars in additional profits.
Yet I could afford to let it go boldly because I was prepared to hit another jackpot elsewhere.

“Everyone says Britain’s economy will plummet after exiting the ERM, but will it really?”

While inflation might rise, for export companies that had struggled with the previously fixed exchange rate, the drop in sales prices would actually be favorable—a windfall.

“Once I liquidate my position and pour all the profits back into the British stock market, it won’t be long before it swells several times over.”

Rather than delay liquidating the pound to earn a mere few million more, it was far wiser to buy British stocks in bulk now, knowing they would surge shortly.
As I sat alone, grinning to myself in anticipation of the next jackpot, a long shadow fell across the table.

“There you are! I’ve been looking everywhere for you.”

I looked up to see Roy standing there, a baseball cap pulled down and headphones draped around his neck.

“What brings you here?”

I straightened my upper body with a puzzled expression.
I wondered what could have driven him out here, given that he’d been cooped up in his room, skipping lectures as he pleased.

“Ah, we’re running tight on time… Hey, come on, get up. No time to waste.”

Roy checked his wristwatch urgently, then irritably scratched at his straw-like hair before adjusting his baseball cap again.

“What is it?”
“It’s urgent, I’m telling you. Hurry!”

Roy ignored my question and simply repeated that it was urgent, grabbing my backpack from where I’d left it on the empty seat.

“Come on, get up. We don’t have time!”

Grabbing one of my arms and pulling me up, I stumbled to my feet with an involuntary cry. “Wait, what’s this all about?”

“Why are you doing this?”
“I’ll explain on the way, so hurry up!”

Roy shoved me forward, forcibly jammed a helmet over my head, threw me onto the back of the scooter, and immediately took off.

Vroom—!
“Hey! Where are we going?”

Caught completely off guard by this sudden abduction, I shouted frantically from the back seat.
But whether Roy couldn’t hear me over the engine noise or was simply ignoring me, he offered no response whatsoever, just kept the scooter throttled and raced urgently toward some unknown destination.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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