Golden Spoon Investment Portfolio - Chapter 315

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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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315. What? What is this!

“…So it looks like I need to stay in the United States a bit longer. I’m sorry.”

Choi Ho-geun returned to his room at the Plaza Hotel where he was staying during his training period after work, and as he spoke into the receiver, his wife answered with a slightly disappointed voice.

[It’s work-related, so there’s nothing we can do about it. Does that mean you won’t be able to come for Lunar New Year either?]
“It looks that way.”
[I understand. Then I’ll take the children and go to your parents’ house by myself.]
“Won’t it be difficult going all the way to Daegu?”
[What else can I do? Both your father and mother must be waiting eagerly for the children, so I have to go.]
“I’ll definitely return home by next month. Just bear with it until then.”
[Understood.]

My wife let out a deep sigh as she answered.

“How are the children doing?”
[They’re doing so well it’s almost a problem—you just take care of yourself while you’re abroad and come back safe and sound.]

The thought that only my wife cared about my health made my chest tighten.

“Haha. Understood.”
[The phone bill is going to be high, so let’s hang up.]
“Right.”

As I hung up and set down the receiver, a hint of regret crossed my face.
At first, being separated from my family and living freely had thrilled me, but in less than a month, I found myself missing them more than ever—even missing my wife’s nagging.

“So that’s why people say there’s no place like home.”

I smacked my lips, changed out of my suit into comfortable clothes, and headed straight to the adjacent room of Jung Hwan-yeop.
There, Hong Jae-hee and Yu Seok-hyun had already gathered, with pizza and beer spread out, and they were already in the middle of a game.

“Manager! Why were you on the phone so long? We’ve been waiting so long our stomachs are touching our backs.”

Jung Hwan-yeop unbuttoned his shirt and rolled up his sleeves, raising his voice to scold Manager Choi Ho-geun the moment he saw him.
His necktie was nowhere to be found, and Manager Choi Ho-geun settled into an empty seat with an exasperated expression.

“Finish eating that pizza in your hand before you say things like that.”
“Oh my. How did this end up in my hand?”

Jung Hwan-yeop chuckled sheepishly, playing dumb.

“Ugh. What a repulsive fellow.”

As Manager Choi Ho-geun shook his head, Yu Seok-hyun astutely opened a fresh beer can and placed it before him.

“Please, Manager.”
“Thank you.”

Manager Choi Ho-geun picked up the cold beer can and pointed at Jung Hwan-yeop with his fingertip.

“Never become like that guy. Understand?”
“Ha ha.”

Hearing Yu Seok-hyun’s awkward laugh beside him, Manager Choi Ho-geun gulped down the beer.

“Ahh.”

As the refreshing beer slid down his throat, the fatigue of the day seemed to wash away, and an exclamation of satisfaction escaped his lips naturally.
At that moment, Jung Hwan-yeop, chewing pizza in his mouth, suddenly asked as if remembering something.

“By the way, Manager, have you heard the news about Hanwha Group?”
“You mean Hansei Pharmaceuticals and Energy went into default?”
“Yes. And I heard Hansei Construction is on its last legs too.”
“With the steel division leading the way and subsidiary companies collapsing one after another, there’s no way construction can survive.”

Manager Choi Ho-geun replied bitterly, picking up a slice of pizza loaded with pepperoni.
Then Yu Seok-hyun spoke with concern, looking at both men.

“So Hansei Construction will face default twice within a year.”

Hansei Construction, ranked 47th in contractor rankings, had defaulted in April of last year and was acquired by Hanwha Group in June—a large construction company specializing in civil engineering and plant projects.
It had defaulted and was barely acquired by another group, yet less than a year later, it faced crisis again. One could easily imagine the despair of its employees.

“Hansei Construction won’t be the only one. All the affiliated companies under the Park Group will suffer, and the subcontractors below them will lose their jobs en masse. Just thinking about it makes me shudder.”
“They’re all probably breadwinners with families. I’m genuinely worried about them.”

Hong Jae-hee murmured with a darkened expression.

“You’re right.”

Thinking of the breadwinners who had suddenly become unemployed, Choi Ho-geun felt a heaviness settle in his chest as well.
As the atmosphere grew somber—hardly a cheerful topic—Hong Jae-hee forced a smile and deliberately steered the conversation elsewhere.

“Oh! Mason won’t be in tomorrow, so we get the day off. What’s everyone planning to do?”

Choi Ho-geun drained his canned beer before answering.

“Well, since I have some free time, I was thinking of stopping by Macy’s Department Store nearby to pick up some gifts for my daughter and son.”
“Come on now. You can’t forget a gift for your wife either.”
“Of course not.”

Choi Ho-geun singled out the one among them who looked the most idle.

“If you’ve got nothing to do, come shopping with me.”

Jung Hwan-yeop picked up a fresh slice of pizza, his eyes widening.

“I have plans.”
“Huh? What kind of plans?”

All four of them had neither friends nor acquaintances in New York.
Puzzled by the claim, Choi Ho-geun pressed further, and Jung Hwan-yeop stretched a strand of cheese from his mouth as he spoke.

“I have to go on a date.”
“!”

Choi Ho-geun, along with Hong Jae-hee and Yu Seok-hyun, turned to stare at him in utter surprise.

“A date? You mean with a woman?”
“Yes.”

At his composed nod, Hong Jae-hee’s eyes sparkled with interest.

“My goodness! Manager Jung, who are you dating? Is it someone I know?”

Yu Seok-hyun didn’t say anything, but his expression betrayed his curiosity.

“You’re not making this up just because you don’t want to go, right? You’re being serious?”

When Manager Ho-geun asked with obvious skepticism, Jung Hwan-yeop let out a scoff.

“Honestly, you’ve been fooled this whole time. I’m telling you the truth. I’m meeting Bella tomorrow afternoon.”
“Bella?”

Manager Ho-geun’s eyes widened as the familiar-sounding name suddenly clicked in his mind.

“Don’t tell me you’re talking about the CEO’s private jet stewardess?”
“That’s right.”
“Oh my goodness!”
“Seriously?”

Everyone gasped in disbelief at Jung Hwan-yeop’s confirmation.

“What’s with all those looks?”

Jung Hwan-yeop frowned at their reactions.

“Come on! Would you believe it if you were in my shoes? Be honest. Did you keep stalking her all this time just to get one date? That’s a crime, you bastard! The CEO’s going to chew you out!”
“What makes you think I’m some stalker?”

Jung Hwan-yeop retreated slightly under the barrage of criticism.

“I simply asked her out like a man should.”
“You didn’t pester her until she said yes, did you?”

Manager Ho-geun pressed him with wide eyes.

“Manager, you can’t do that.”
“There are trees that won’t fall no matter how many times you chop them.”

Hong Jae-hee and Yu Seok-hyun chimed in as well.

“Oh, come on. That’s not it.”

Jung Hwan-yeop tilted his chin up arrogantly and thrust his face forward.

“I’m naturally a charming man who radiates masculine pheromones wherever I go. Bella simply fell for my appeal.”
“Ugh.”

Choi Ho-geun nearly hurled the beer can he was holding before barely restraining himself.

“Is this dating thing actually real?”
“I’m sorry, sir, but I just can’t believe it….”

Hong Jae-hee and Yu Seok-hyun exchanged skeptical glances from behind, whispering to each other.
All three of them recalled Jung Hwan-yeop greedily devouring pizza and the slender blonde woman Bella, thinking they made an utterly mismatched pair.

“It’s like Beauty and the Beast.”

Choi Ho-geun muttered, his expression still disbelieving.

“Shouldn’t it be Beauty and the Beggar? The Beast was originally a prince, but Jung….”
“It’s shocking, yet I’m envious. Dating Bella.”

Yu Seok-hyun, who had muttered unconsciously, quickly clamped his mouth shut with a look of regret, but it was already too late.

“Oh, so you’re jealous?”
“Jae-hee, it’s not like that….”
“Hmph.”

Hong Jae-hee turned her head away sharply, and Yu Seok-hyun’s face fell.
One guy was laughing about his date, while the other was having a lover’s quarrel on the other side—caught in the middle, only Choi Ho-geun’s ribs ached.

“I miss my wife….”

* * *

Thursday, February 13th, 1997. Bangkok, Thailand.
Piyapong, the foreign exchange officer at the Bank of Thailand, left his house early in the morning as usual, driving a Japanese Toyota.
Bangkok was notorious for its traffic congestion, but at this early hour, the roads were at least passable.
The sky hung hazy with poor air quality as dawn broke slowly. Piyapong’s car entered the city, the morning light filtering through the windows.
After parking in the Underground Parking Lot and stepping out, Piyapong carried his briefcase in one hand and took the Elevator up to his Office on the fourth floor.
He passed a cleaning woman working in the hallway and entered the Office, finding the spacious area filled with desks completely empty.
Click.
As he flipped the switch, the fluorescent lights mounted on the ceiling flickered several times before illuminating the Office brightly.
Piyapong walked to his desk in the back, set his briefcase on the chair, and noticed a sticky note attached to his computer monitor. He peeled it off and read it.

[Goldman Sachs downgraded Thailand to the lowest among 25 developing nations. Check for potential negative impact on exchange rates.]

Piyapong frowned and crumpled the note, tossing it into the trash bin beneath his desk.

“These days, it’s nothing but bad news every single day.”

Following his daily routine, he powered on his computer and then walked over to the fax machine installed in one corner of the Office.
Piyapong reviewed the incoming faxes, checking overnight developments in the London and New York financial markets. He poured hot water from an electric kettle into a mug and brewed strong coffee.
Holding the fax papers in one hand and the mug in the other, he returned to his desk and sat down, roughly forecasting today’s exchange rate trends when other employees began arriving one by one.
As the Office grew increasingly busy, Piyapong checked his wristwatch.
He then picked up the receiver and called a Tokyo Stock Exchange trader he was acquainted with.

“It’s me, Piyapong.”

True to his overseas education, Piyapong continued in fluent English.

“How’s the atmosphere in Tokyo?”
[The yen keeps weakening steadily. There’s not much else to report.]

With the receiver pressed to his ear, Piyapong checked the dollar-yen chart on the monitor before him and smacked his lips.
Just two years ago, the yen had surged to 80 per dollar, showing strength. Now it had plummeted significantly to 120 per dollar.
Thailand, which had adopted a fixed exchange rate system to attract dollar capital, was suffering considerable damage from the yen’s depreciation.
Cheap Japanese products were flooding into Thailand due to the weak yen, while Thai products were losing competitiveness and exports were plummeting.
As a result, the current account deficit, which was already growing, expanded even more sharply.

“How far does the Bank of Japan intend to push the yen down?”

Piyapong spoke with a hint of complaint, and the other party responded as if there was nothing that could be done about it.

[I don’t know either. But given the neighboring countries’ sensitivities, we won’t let it drop below 130 yen.]
“That means you’ll maintain 120 yen for a while longer.”
[The Japanese Government has set that direction, and the United States seems to be accepting it, so there’s a good chance that’s what will happen.]

Piyapong, harboring similar thoughts, nodded in agreement.

“Let me know immediately if anything unusual comes up.”
[Got it.]

After ending the call and setting down the receiver, Piyapong studied the dollar-yen exchange rate chart displayed on his monitor, his brow furrowing.

“At this rate, reducing the current account deficit won’t be easy for a while.”

A persistent current account deficit meant that dollars within Thailand continued flowing outward—hardly a positive signal for Piyapong, who oversaw exchange rate management.

“Foreign banks are already withdrawing the capital they’ve invested, which is unsettling enough. I just hope nothing serious happens.”

While his superiors maintained an optimistic outlook despite the sluggish economy, Piyapong found himself increasingly troubled by the exodus of foreign investors that had begun at the start of the year.
Then, a memo he’d noticed on his monitor when he arrived at work suddenly came to mind.
Goldman Sachs, Wall Street’s premier investment bank, had cast a negative outlook on Thailand’s economic prospects and essentially signaled a sell—a prospect that gnawed at him.

“Ah, forget it. I should just focus on work.”

Piyapong picked up his mug and took a sip of coffee, noticing that market opening was imminent. He moved his mouse to bring up the baht exchange rate chart.
The exchange rate, which had averaged 24.97 baht per dollar last year, was now fluctuating around 26 baht despite the fixed exchange rate system, due to the deteriorating current account and economic slowdown.
Leaning back in his chair and sipping his coffee while monitoring the exchange rate movements, Piyapong’s eyes suddenly widened as he witnessed a torrent of baht sell orders flooding in.

“What? What is this!”

Startled, Piyapong snapped upright in his chair, his face draining of color as he watched the baht sell orders snowball relentlessly.

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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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