Golden Spoon Investment Portfolio - Chapter 386

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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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386. As expected, we’re stumbling right back to square one.

[KOSPI: 373.73 (
−29.43)]

“The circuit breaker just triggered.”

As Yu Seok-hyun’s cry pierced the air, Jung Hwan-yeop, seated at his desk, turned his gaze toward the massive market display showing the KOSPI index and spoke.

“It’s dropping quite brutally.”
“Indeed it is.”

Choi Ho-geun, standing with both hands planted on his hips, turned his head toward Hong Jae-hee and asked.

“What’s the exchange rate?”

Hong Jae-hee checked her monitor and answered immediately.

“It’s dropped 56 won from yesterday, sitting at 1,090 won per dollar.”
“What about three-year corporate bonds?”
“They’re holding steady at 14.5%.”
“At least the stock market is the only thing in chaos—everything else seems manageable.”

Jung Hwan-yeop interjected.

“Once the panic in the stock market subsides, won’t it stabilize again before long?”

But Choi Ho-geun continued to stare at the KOSPI index displayed on the market board, his expression grave.

“I wish that were the case, but we’ll need to wait and see how the situation unfolds to know for certain.”

As Choi Ho-geun displayed caution, Jung Hwan-yeop carefully gauged his mood and asked.

“Did the chairman mention something to you?”
“Yes.”

Choi Ho-geun nodded heavily.

“What did you just say?”

The other team members all turned to look at Manager Ho-geun with curious expressions.

“He said the real pain starts now.”
“…You can’t mean things are going to get worse than this.”

Jung Hwan-yeop replied with a grave expression, devoid of any humor.
Even now, one could argue they were at rock bottom, yet the suggestion that things could deteriorate further was simply incomprehensible.
As everyone wore expressions of disbelief, Manager Ho-geun spoke in a subdued voice.

“He told us to prepare for anything below 300.”
“!”

Jung Hwan-yeop swallowed hard, his throat dry.
The team members in the office likewise widened their eyes, unable to conceal their shock.

“For the president himself to say such a thing… we can’t disbelieve it, and yet… Sigh. This is really…”

Jung Hwan-yeop ran his hands through his hair in distress, exhaling a heavy sigh.

“I really hope the president’s prediction is wrong this time.”

Manager Ho-geun said this while crossing his arms.
A heavy silence fell over the office as everyone stared at the large market ticker displaying the KOSPI index with troubled eyes.

****

Yu Hyun-seok entered through the door and approached Seok Won-han, who was lifting his head from the desk lined with multiple monitors, bowing respectfully.

“Welcome.”

Seok Won-han closed the file folder he had been reviewing and gestured with his chin toward the sofa positioned to one side.

“Please, have a seat so we can talk.”
“Thank you.”

Rising from his seat, Seok Won-han moved around the desk and took the central position on the sofa, with Yu Hyun-seok following suit and settling into the seat to his right.
Crossing one leg over the other, Seok Won-han spoke first.

“How did things go with InterPlaza?”

Yu Hyun-seok, the department head, answered immediately.

“Since they’re already struggling to recruit investors, they accepted our proposal without any major issues.”
“I was worried they might be reluctant about us acquiring too large a stake due to management control concerns. This is fortunate.”
“Initially, such concerns did exist, but they dissipated immediately after yesterday’s IMF announcement.”
“Is that so?”
“With the economy already struggling, this crisis will dry up market liquidity even further. They’re in no position to be selective.”

Seok-won nodded slightly, his expression showing understanding.

“Indeed, since no one knows how the situation will unfold, everyone will likely be cautious for the time being. Attracting investment won’t be easy.”
“That’s my assessment as well.”

Under normal circumstances, InterPlaza would have completed its first capital increase successfully before the IMF crisis struck.
But this time, with the foreign exchange crisis arriving several months earlier, I had seized a golden opportunity to easily acquire a substantial stake in InterPlaza—the company that would become a ten bagger in the future.
As I wore a satisfied smile, Yu Hyun-seok continued.

“That’s why InterPlaza has made a new proposal.”
“What is it?”
“They’ve inquired whether we could cover all the investment funds for the second capital increase they had planned for next year.”
“They’re asking us to increase our investment?”
“Yes.”

At this unexpected proposal, I straightened up involuntarily.

“Surely they’re not asking us to increase investment while keeping the shareholding ratio the same.”
“That would be impossible. Considering they had planned to increase capital to 3 billion won through two capital increases by next year, they’re willing to transfer up to 75% of shares if we accept their proposal.”

I furrowed my brow upon hearing this.

“That would make us the largest shareholder.”
“Correct.”

I crossed my arms and asked.

“Is LineComm trying to withdraw from InterPlaza?”
“InterPlaza is precisely the successful case that emerged from the in-house subsidiary system implemented to promote venture investment.”

The in-house subsidiary system involved creating independent, small-scale business ventures within the parent company using newly developed ideas or existing operations, allowing them to operate autonomously.
In simple terms, it could be described as a form of internal venture capital.

“If I’m not mistaken, the current CEO of InterPlaza was originally a deputy at LineComm, correct?”
“That’s right. LineComm projected that the domestic internet shopping mall market would grow to 110 billion won within five years, and they were aiming to achieve annual sales of 24 billion won by then and successfully go public.”

Considering the explosive expansion of the internet that lay ahead, it was an entirely achievable target.

‘Actually, they’re severely underestimating the potential of the internet shopping mall market.’

Perhaps their reaction was only natural.
After all, this was an era when conventional wisdom dictated that goods should be seen and touched in person at stores or markets before purchase.
So no one could even imagine sitting in front of a computer and having manufactured goods like clothing and shoes—let alone food products—delivered to their doorstep with a single mouse click.
If anyone suggested that internet shopping malls would eventually consume neighborhood bookstores and clothing shops, not to mention massive department stores, no one would believe them.

‘Given that internet homepages are still mostly text rather than images, it’s understandable that people can’t imagine such things.’

Seok-won dismissed the fleeting thought and continued listening to Yu Hyun-seok’s explanation.

“However, with the foreign exchange crisis and the IMF crisis on top of that, LineComm apparently changed their plan to invest only the bare minimum.”
“I see. So that’s how it is.”

As an unexpected opportunity fell into his lap, Seok-won’s eyes gleamed with interest.

“So to summarize, they’re transferring business control to us while LineComm remains as an investor.”
“Exactly.”

Seok-won suppressed the laughter threatening to burst forth and feigned contemplation, stroking his chin with one hand.

“What was the name of InterPlaza’s CEO again?”
“It’s Choi Jung-yeol.”
“Ah, yes. I remember now.”

Seok-won asked with a notably serious demeanor.

“InterPlaza’s management has agreed to this arrangement as well?”

For venture enterprises, the most crucial asset was an innovative founder with passion and drive.
If I invested substantial capital only to have the founder and key personnel abandon ship, it would all be for nothing.
That’s why I needed to verify Choi Jung-yeol’s intentions first.

“Right now, it’s difficult to secure new investment from anyone but us, and the company continues to operate at a loss. I understand he agreed because without LineComm’s continued support, the company cannot survive.”

Yu Hyun-seok gauged my reaction carefully before adding his point.

“However, there is one condition. He hopes that at minimum, his position as representative will be guaranteed until the company goes public.”

Seok-won nodded readily at that.

“He knows InterPlaza better than anyone and is managing the company without issues. There’s no reason to replace the captain of the ship.”

Rather than having to offer incentives to keep him aboard, the fact that he wanted to stay of his own accord was ideal.

‘Still, to motivate him to grow the company further, I should dangle an appropriate carrot in front of him.’

If there was nothing in it for him personally, his motivation would naturally wane no matter how hard he worked.
Seok-won, who had unexpectedly stumbled upon a windfall, asked with a subtle smile playing at his lips.

“How much investment were you looking for?”
“Two billion won, which we were planning to raise through first and second rounds of paid-in capital increases.”
“So if we invest, we’d hold 75% of the shares while LineComm and Representative Choi Jung-yeol would hold 25%?”
“Yes, that’s correct.”

Seok-won paused as if deliberating before turning to Yu Hyun-seok and speaking.

“I’ll accept the proposal.”
“Really?”

Yu Hyun-seok asked in surprise.

“Regardless of what others think, I believe internet shopping malls will become a major growth sector. That’s why I expressed investment interest in InterPlaza in the first place.”

Yu Hyun-seok nodded, understanding that there would be no reason to invest if I didn’t see the potential.

“And if a business is going to grow significantly, wouldn’t it be better to take an active investment role rather than simply securing equity?”
“That’s absolutely right.”

Yu Hyun-seok nodded in agreement.
Yet inwardly, despite the fresh concept, he couldn’t fully convince himself that an internet shopping mall business held such promising prospects.

‘It won’t fail since the president has chosen it, but…’

Truthfully, his faith in Seok-won’s judgment far outweighed any optimism he harbored about InterPlaza’s future.

“Since the investment terms have changed, coordinate with LineComm again and draft a revised contract.”
“Understood.”

As the potential profits from InterPlaza swelled, I leaned back against the sofa’s headrest, my face breaking into a satisfied smile.
After Yu Hyun-seok bowed and departed, Na Seong-mi stepped in as if on cue, cradling an armful of newspapers.

“I’ve brought tomorrow’s morning edition, first printing.”
“Set them here.”

Na Seong-mi arranged the fresh newspapers neatly on the coffee table.
The sharp scent of printer’s ink hung heavy in the air, fresh from the printing press.

“Then I’ll take my leave.”
“Yes, go ahead.”

Once Na Seong-mi had left, I picked up the topmost newspaper.
The moment my eyes fell upon the front-page article, my expression hardened instantly.

[
President Kim’s Economic Team Purged Without Warning
President Kim Sung-gyu announced his acceptance of the resignations of Deputy Prime Minister Lee Eun-hyung and the Blue House’s chief economic advisor, demonstrating his resolute determination to overcome the imminent economic crisis.
Choi Jin-woo, the former Vice Minister of Finance now serving as Minister of Commerce, Industry and Energy, has been appointed as his successor.
At the Blue House this afternoon, President Kim personally presented the appointment certificate, stating, “Our economy faces grave difficulties,” and urged, “I trust you will do your utmost to restore both domestic and international confidence and overcome our current hardships.”
Regarding this economic team reshuffle…

“In wartime, you don’t replace your generals. Yet here they go, blundering as expected.”

Though I had anticipated this sequence of events, witnessing the Blue House fumbling helplessly on the eve of IMF negotiations that would determine the nation’s fate filled me with undisguised despair.

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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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