Golden Spoon Investment Portfolio - Chapter 38

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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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38. What’s the name of this newly created Hedge Fund?

Mapo-gu, Seoul, Daeheung Group Headquarters.

“Is the Chairman inside?”

Chief Secretary Gil Seong-ho, who had entered through the adjoining office door with a rigidly set expression, asked the question, and Director Choo Se-young rose awkwardly to respond.

“Yes, sir.”

Upon hearing the answer, Chief Secretary Gil Seong-ho took long strides toward the inner door and knocked.
Director Choo Se-young, who had been holding his breath until Chief Secretary Gil Seong-ho opened the solid wood door and entered the Chairman’s office, finally looked as though he could breathe again once the door closed behind him.

“Phew. His expression didn’t look right. What’s going on?”
“I know. I don’t think I’ve ever seen the Chief Secretary make a face like that.”

Lee Chae-yeon nodded in agreement with Director Choo Se-young’s words.
Jung Yun-kyung, who had been sitting at her desk, gazed worriedly at the tightly closed Chairman’s office door, then raised one hand to adjust her horn-rimmed glasses.

“It seems like something important is happening. Don’t enter before he calls for you.”
“Yes, ma’am.”

Lee Chae-yeon, the youngest in the secretarial office, also seemed conscious of the atmosphere and hunched her shoulders with an unusually subdued demeanor.

Meanwhile, Chairman Park Tae-hong, who had been reading documents at a spacious mahogany desk, leaned back in his chair as Chief Secretary Gil Seong-ho entered.

“I have an urgent matter to report.”

Chief Secretary Gil Seong-ho approached and spoke.
Seeing the stiffened expression, Chairman Park Tae-hong sensed that something had happened and set down the documents in his hand.

“What’s the matter? Why do you look like that?”

Then Chief Secretary Gil Seong-ho spoke in a grave voice.

“This morning, Army Chief of Staff Yun Jin-woo and Capital Defense Commander Do Kyung-taek were suddenly replaced.”
“…!”

Park Tae-hong’s eyes widened at the unexpected news.

“Is that really true?”

Startled enough to pull himself away from the chair’s backrest, he repeated the question, and Chief Secretary Gil Seong-ho nodded heavily in response.

“Yes, sir. When I first heard the report, I couldn’t believe it either, so I verified the facts multiple times. But it’s undeniably true.”
“Good heavens…”

Park Tae-hong couldn’t hide his bewilderment.
It was inevitable, given how significant the presence of the dismissed Army Chief of Staff Yun Jin-woo and Commander of the Defense Security Command Do Kyung-taek had been.

“The dismissal procedures have already been completed, and non-Hanahoe senior officers have received their appointment letters and assumed command, it seems.”
“Remarkable. It wasn’t just a lightning-quick decision—they finished it with breathtaking speed.”
“It appears they processed everything swiftly, likely out of concern for Hanahoe’s backlash.”

Park Tae-hong nodded slightly, as if sharing the same thought.

“That must be it. Removing those two is essentially the President’s declaration of war—a public announcement that he won’t tolerate Hanahoe.”
“Precisely. Because of that, it’s said that emergency alert orders have been issued to the 30th and 33rd Security Units guarding the Blue House.”

The 30th and 33rd Security Units, subordinate to the Capital Defense Command, were the presidential security forces protecting the Blue House’s perimeter, Bukak Mountain, and the Inwang Mountain area.
The fact that emergency alert orders had been issued to these units meant the Blue House was on high alert.

“They’re concerned about a repeat of the 12.12 incident.”
“If Hanahoe decides to openly rebel, a military coup wouldn’t be impossible at all.”

Park Tae-hong reached for the teacup in front of him, but finding it cold, he set it back down and spoke.

“Just the Capital Defense Commander and the Special Warfare Commander alone are Hanahoe members.”
“Yes, sir. Between the two of them and the Hanahoe personnel occupying key positions like corps and division commanders, there aren’t enough fingers on both hands to count them all.”

It was fair to say that Hanahoe controlled the entire Army.

“The President must be aware of this situation. Yet he’s pushing ahead with the purge anyway—does that mean he’s confident?”
“It might be less about confidence and more about desperation. If he doesn’t deal with Hanahoe now, he could become nothing but a puppet.”
“You’re referring to former Defense Minister Choi Gu-chang’s remarks before the inauguration.”
“Yes.”

Park Tae-hong leaned back in his chair with his arms crossed, nodding heavily.

“True enough—they did overstep their bounds rather severely.”

Even if he were president, he couldn’t simply ignore Hanahoe openly challenging the supreme military commander.
Park Tae-hong spoke in a low, measured tone.

“Regardless of the outcome, the political landscape will be walking on thin ice for some time.”

Park Tae-hong recalled what Seok-won had said previously, his eyes narrowing with intensity.

“I thought it was unlikely, but it’s unfolded exactly as the youngest predicted.”

Chief Secretary Gil Seong-ho nodded, recalling the conversation they’d had that day.

“The young master’s foresight in seeing what lies ahead is truly remarkable.”
“If he predicted the dissolution of Hanahoe correctly, then the real-name financial system could indeed be implemented with full force.”
“That is….”

Chief Secretary Gil Seong-ho’s expression turned grave.
While the dissolution of Hanahoe would shake the political landscape, the real-name financial system would directly impact the Group itself.
As Chief Secretary Gil Seong-ho stood before him with a serious face, Park Tae-hong tapped his fingers on the desk, deliberating for a moment.
Then he lifted his head and spoke.

“There’s a plan I had you prepare previously.”
“Yes, sir.”
“Execute it.”

Chief Secretary Gil Seong-ho, receiving the order, stiffened slightly as he responded.

“The shock from Hanahoe alone is considerable—surely you don’t intend to touch the real-name financial system as well?”
“We’ve already begun with the dissolution of Hanahoe, which I thought would be difficult. What could we not accomplish? And have you already forgotten what the youngest said—that this isn’t merely about transparency in financial transactions?”
“You mean it will be used as a tool to settle accounts with the previous administration and Hanahoe personnel.”

“Exactly. There’s no justification more compelling or capable of garnering public support than the eradication of corruption.”

Since this was undeniably true, even Chief Secretary Gil Seong-ho, who had initially been skeptical, could only acquiesce.

“Complete all the work within three months.”

Chief Secretary Gil Seong-ho regarded Chairman Park Tae-hong with an expression of concern.

“With the considerable expenses already required to convert nominee-held shares and slush funds into real-name accounts, proceeding too hastily will only magnify our losses.”
“It’s regrettable, but if we’re to complete this before trouble arrives, we have no choice but to bear the cost.”
“Are you anticipating the Financial Real-Name System will be implemented within this year?”

Though I wondered if the timeline wasn’t too aggressive, Chairman Park Tae-hong’s thinking differed.

“Yes. Unlike America, where a president can serve twice, here we’re limited to just five years. So he’ll certainly want to dispose of all the troublesome and burdensome matters during his first term when his power is strongest.”

Chairman Park Tae-hong presented another piece of evidence, speaking with conviction.

“Moreover, if he intends to use this to purge the previous administration’s officials and Hanahoe, implementing it as quickly as possible would be wise.”
“Now that you mention it, that does seem plausible.”

Chief Secretary Gil Seong-ho found Chairman Park Tae-hong’s conjecture increasingly persuasive.

“So to avoid being caught in the crossfire when whales fight—to prevent sparks from landing on us—it would be better to settle matters beforehand, even if we take some losses.”
“Understood. I’ll set the plan in motion immediately.”

Chief Secretary Gil Seong-ho straightened and replied.

“The work must be conducted discreetly so that the group’s name doesn’t appear in newspapers over nominee asset issues.”
“I’ll keep that in mind.”
“And monitor the Hanahoe situation closely—keep your antennae up for any developments.”
“Yes.”

Chief Secretary Gil Seong-ho immediately turned and hurried from the chairman’s office.
Left alone, Chairman Park Tae-hong let out a low groan and pressed his hand to his head.

“I wish I’d been wrong about this, but once again, that bastard Seok-won was right.”

The more I thought about it, the more my head throbbed, and sighs escaped unbidden.

“For a while, keeping my head down will be the wisest course.”

Chairman Park Tae-hong sank into deep contemplation about how to not merely survive the coming tempest, but emerge with profit intact.

* * *

Cambridge, Massachusetts.
A female part-time worker in an apron handed over a tumbler and spoke.

“Here’s your Americano with the two extra shots!”
“Thank you.”

I accepted the tumbler and settled at an outdoor table, wearing only a thin windbreaker in the pleasantly warm spring weather.
With March nearly gone, sitting in the sunlight felt almost hot.

“Only two months left until graduation.”

Unlike others, I had accumulated more than enough credits and arranged to substitute my thesis work by assisting Professor Frank, so I felt unburdened and light.
Compared to other students drowning in thesis preparation, it was an extraordinary luxury.
With only two classes to attend, I had plenty of free time to spend leisurely and pursue other matters.

“Let me see.”

I took a sip of the Americano and pulled out a Korean daily newspaper I’d received by mail that morning, unfolding it from my bag.
Immediately, an article on the front page caught my attention.

[Army Reels from Sudden Leadership Overhaul
Military officials are struggling to hide their shock and bewilderment at the sudden dismissal of the Army Chief of Staff and the Commander of the Defense Security Command that occurred two days ago.
The dismissal was executed so abruptly that notification of termination reached the individuals almost simultaneously with the Defense Ministry’s announcement, and it’s reported that Army Headquarters had no inkling of it until just before the announcement.
Defense Minister Jeon Deok-jae, holding his first press conference after taking office today, revealed that the dismissals of the Army Chief of Staff and the Defense Security Commander were decided after the President held a breakfast meeting at the Blue House.
He emphasized that this personnel action was part of the military reform measures currently being planned, including the elimination of irregularities within the military.
When asked whether this action was aimed at Hanahoe, which monopolizes key military positions, the minister responded instead with remarks that “we must not view everything through the lens of factionalism, and it is now time to move beyond conflict and division.”
[Meanwhile….]

“They should have known when to step back gracefully. Their greed was excessive from the start.”

It had been overambitious to think that Hanahoe, a private faction within the military, would maintain itself and continue wielding power as the military regime ended and civilian government began.
Contrary to domestic concerns, Hanahoe, intoxicated by long-held power and arrogantly believing no one would dare touch them, was purged with almost pathetic ease.
A slight anxiety crept in—wondering if history might be unfolding differently than before—but I shook my head and muttered.

“I haven’t really intervened in Korean affairs, so surely that won’t happen.”

Then I thought of my father in Korea and spoke.

“If he didn’t dismiss my words, he would have seen Hanahoe being dismantled and surely prepared for the financial real-name system.”

That said, it was fortunate I’d acted. Had I ignored it and done nothing, I would have faced considerable trouble later.
Just then, a bell chimed. I pulled my phone from the backpack beside me and answered the call.

“Hello.”
[Boss, it’s Landon Shore. Do you have time to talk right now?]
“Go ahead, I’m free.”
[It’s regarding a bond investment proposal. I’m calling because one came in.]
“What kind of proposal?”

Landon Shore answered immediately to my question.

[Several senior executives and a chief from the arbitrage division at Salomon Brothers recently went independent and established a hedge fund. They’ve sent us an investment proposal.]
“…!”

The moment I heard this, a single word flashed through my mind. I straightened up from where I’d been leaning back.

“What’s the name of this newly formed hedge fund?”
[It’s Long Term Capital Management.]

The instant I heard the answer, my grip tightened involuntarily around the phone I was holding.

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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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