Monday morning, in the lobby of Daeheung Group's headquarters, a large clock on one wall showed 8:30 AM. The wide lobby, floored with artificial marble, was bustling with employees arriving for work. Despite having had a day off due to the holiday, the men and women passing through the lobby all wore tired expressions. It was as if the thick fog of Monday blues had settled over them, stifling any enthusiasm for the workweek ahead.
Choi Kang-wook, a deputy manager in Team 1 of the investment division, was no exception. The bag slung over his shoulder felt heavy as if someone had secretly slipped in a dumbbell. His body ached all over, making him wonder if he was coming down with something, and his mood was thoroughly gloomy. With a sigh, he forced himself to keep walking when he felt a light slap on his back.
"Hey, Deputy Choi."
Turning around, Choi Kang-wook saw his direct superior, Manager Song Jong-geun, standing next to a female colleague from their team, Shin Young-hee.
"Good morning, sir," Choi Kang-wook greeted, bowing his head. But Song Jong-geun grumbled in response.
"How can it be a good morning when we have to work for another whole week starting today?"
Shin Young-hee chimed in as they walked toward the elevator, "Right, sir? I didn't even want to get out of bed this morning. It was torture!"
"Still, it's better than last week, which was like a nightmare."
Choi Kang-wook and Shin Young-hee both winced and shuddered simultaneously.
"Sir! Why bring up those bad memories?" Shin Young-hee protested.
"Don't even mention it," Choi Kang-wook added, "It felt like riding a rollercoaster all week, swinging between hell and heaven."
"The market rebounded, so we barely made it out alive. It was brutal."
Shin Young-hee trembled at the memory of how the stock index had plunged more than 60 points in just two days, leading to massive losses for Team 1. Watching the index freefall, with no chance to escape, had been terrifying and overwhelming for Manager Song and his team. Just when they thought it was all over, a dramatic turnaround occurred, with the market hitting rock bottom and then skyrocketing. The rollercoaster ride had left them dizzy, but thanks to the quick recovery, their losses were minimized, and they all breathed a sigh of relief.
"It was all thanks to Team 4 this time, wasn't it?" Choi Kang-wook commented, prompting Shin Young-hee to ask, "What do you mean?"
"Remember? Just before the Financial Real-Name System was implemented, Team 4 took over our shares in Korea Electric Power Corporation and Samsung Electronics."
"Oh, right," Shin Young-hee nodded, recalling the event.
"If we'd still been holding onto those when the market crashed, what do you think would've happened?"
Shin Young-hee's face scrunched up as she realized the implications. "Ugh, it would've been disastrous just thinking about it."
"If we had been stuck with those stocks during the crash, it wouldn't have just been bad; it would've been total despair. We would've probably panicked and dumped everything at the lowest price just to cut our losses."
Shin Young-hee nodded in agreement, recalling how they had hastily sold off their stocks during the crash. "You're right. If not for Team 4, we'd be in big trouble."
Manager Song nodded silently, acknowledging the truth in their words. The thought of what could have happened if they'd held onto those high-market-cap stocks during the crash sent chills down his spine.
"I heard Team 4 bought up stocks when everyone else was scared stiff and made a killing. Did you hear about that, sir?" Choi Kang-wook asked, to which Manager Song replied nonchalantly, "Who doesn't know that story by now?"
"At first, I thought he was just some spoiled rich kid parachuted in with a golden parachute, but seeing him hit a home run like that, I guess I was wrong," Choi Kang-wook admitted sheepishly, scratching his head.
Manager Song had also discarded his initial thoughts of Seok-won as a rookie. He silently agreed, "It seems so."
On the other hand, Shin Young-hee, who, like most female employees, had been supportive of Seok-won from the start, spoke up in a bright voice, her eyes sparkling, "He's a Harvard grad who studied abroad, after all. I guess he really is different, huh?"
"Just because someone was a top student in school doesn't mean they'll excel in the real world but, well, never mind," Manager Song started to say, then swallowed his words. With the results Seok-won had achieved, there was no point in arguing.
"How about we all grab a coffee from the vending machine before we start work?" he suggested, changing the subject. Choi Kang-wook quickly agreed, "Are you treating, sir?"
"Geez, can't you just let me be? Fine, I'll pay," Manager Song grumbled.
With a grin, Choi Kang-wook eagerly pointed down the hallway, "This way, please, sir."
Shin Young-hee laughed, "Deputy Choi, you're too funny!"
The three of them headed to the break room at the end of the hallway. The break room, equipped with two vending machines and a few sofas, was a place for employees to take a short break.
As they turned the corner and entered the room, they were surprised to find Seok-won already there, getting coffee from one of the machines. Even though they hadn't been gossiping, it was still startling to see the person they had just been talking about standing right there.
"Good morning, Team Leader," Manager Song greeted first, prompting the others to bow their heads in greeting as well.
"Good morning," Seok-won replied, holding a paper cup in one hand. "Are you here for coffee?" he asked.
"Yes, sir."
Without missing a beat, Seok-won pulled out some bills from his pocket, inserted them into the vending machine, and gestured toward it. "Go ahead, pick whatever you like."
"Oh, no, that's not necessary," Manager Song hurriedly declined, clearly flustered.
"It's just vending machine coffee; it's no big deal," Seok-won replied casually, brushing off the concern. "Well, I'll be heading off then."
As Seok-won walked away, Choi Kang-wook and Shin Young-hee quickly called out, "Thank you! We'll enjoy it!"
They watched as Seok-won waved a hand in acknowledgment before disappearing down the hall toward his office.
"Wow, I thought he'd be arrogant since he's the chairman's son, but he's actually really nice, isn't he?" Shin Young-hee commented.
"Yeah, and being a Harvard graduate, he does have that smart vibe," Choi Kang-wook added, chuckling as he stood in front of the vending machine.
"Well, sir, it looks like you saved your money today," he remarked to Manager Song, who was still staring down the hallway where Seok-won had disappeared.
"Definitely doesn't seem like your typical spoiled chaebol third generation," Manager Song muttered to himself. His opinion of Seok-won had been gradually improving, and today's encounter solidified that positive impression.
When they met him in person, Seok-won wasn't the arrogant or immature rookie they had expected. His neat appearance and sophisticated demeanor, coupled with the air of confidence he carried, were traits that others could only hope to emulate.
"Sir, what'll you have?" Choi Kang-wook's question brought Manager Song back to the present.
"Cream coffee, of course," he replied, as if it were the most obvious choice.
"Ah, the fancy stuff," Choi Kang-wook quipped, pressing the top row button on the vending machine as he hummed a tune.
***
On the 10th floor of Daeheung Securities headquarters, inside the president's office, President Choi Jin-woo sat in the center of the spacious room, with Director Ko Young-il and Seok-won seated on opposite sofas. As President Choi put down the report in his hands, he looked at Seok-won with a face full of admiration.
"To achieve over a 12% profit in just a few days, that's truly impressive."
"Indeed," Director Ko added, "it's remarkable to see such results, especially when most others suffered heavy losses during the crash. I can't help but be amazed."
Just a short while ago, Director Ko had been skeptical of Seok-won's actions. But now, he was showering him with praise. After all, it was hard not to acknowledge such achievements. If it had been any other employee, he might have felt a twinge of jealousy, but with Seok-won being an owner's son, there was no room for such feelings. In fact, it was clear that Director Ko was eager to get on Seok-won's good side, knowing that he was destined for a significant role in the group's future.
While it would have been easy for Seok-won to let this praise go to his head, he remained humble. "The steep drop in the market helped boost the returns," he said modestly.
President Choi smiled warmly. "You don't need to be so humble. It's because you were prepared and seized the opportunity when it came that you were able to achieve these results.
Isn't that right?"
Looking to Director Ko for agreement, he wasn't disappointed when the director quickly nodded in agreement. "Absolutely, sir. Predicting a market drop is one thing, but having the courage and skill to act on that prediction is something else entirely."
"Exactly."
As the compliments kept coming, Seok-won sat there with a somewhat awkward smile, unsure how to respond. Noticing his discomfort, President Choi leaned in slightly, lowering his voice.
"But tell me, did you know the Financial Real-Name System was going to be implemented? Is that why you sold the stocks?"
Director Ko's ears perked up at this question. He, too, had been curious. After all, it seemed strange that Seok-won had suddenly decided to sell off stocks just days before the Financial Real-Name System was announced, leading to a market crash.
Of course, Seok-won couldn't tell them the truth, and even if he did, they wouldn't believe him. So, he calmly gave the answer he had prepared in advance. "How could I have known something that even cabinet ministers weren't aware of, given how secretly the Blue House was handling it?"
"..."
"I simply thought the market had risen too quickly and was due for a correction. I was fortunate that my timing was right."
"Hmm. Is that really all it was?" President Choi asked, his tone skeptical.
"Yes," Seok-won replied with a steady gaze. The timing had been too perfect to be mere coincidence, but sensing that Seok-won was being evasive, President Choi decided not to press further.
"Let's say that's true. But the market has rebounded strongly and is continuing its upward trend. Wasn't it too early to sell all the stocks?"
"While we achieved a satisfactory return, and although the index did rebound, I believe we're in for a period of mixed performance. That's why I decided to sell," Seok-won explained.
Director Ko, who had been listening quietly, suddenly spoke up, his expression tightening slightly. "Are you saying the market will drop again?"
"Although there's optimism due to government support measures, it will take more time to fully absorb the impact of the Financial Real-Name System," Seok-won responded.
"Hmm."
"While I don't foresee another major crash, we're likely to see significant volatility until the market stabilizes."
President Choi, rubbing his chin thoughtfully, nodded in agreement. "Considering the scale of the implementation, it's too big of a deal for things to settle down quickly."
"Although the stock market has recovered, the bond market has been paralyzed by the Financial Real-Name System, causing a liquidity crunch. The confusion is likely to persist for some time," Director Ko agreed, his expression serious.
"We should prepare for continued volatility and plan our investments accordingly," President Choi decided.
"I'll make sure we do," Director Ko responded.
Suddenly, a thought occurred to President Choi. Turning to Seok-won, he asked, "But why did you keep some of the stocks?"
"The 50 billion we invested in Okwang Industrial is long-term capital, so I left it untouched. As for the rest, it was short-term capital that we couldn't afford to hold onto for too long," Seok-won explained.
President Choi nodded, recalling that the 150 billion belonged to Chairman Park Tae-hong. "That makes sense. Given the nature of the funds, it's better to realize gains now than risk holding on too long."
"Precisely."
But even aside from that, Seok-won had no intention of selling his shares in Okwang Industrial.
'This stock is going to be a ten-bagger. There's no way I'm selling it now.'
As Seok-won smiled to himself, President Choi took a sip from the teacup in front of him.
"So, you'll return the 150 billion to the chairman?" President Choi asked.
"Yes, now that the investment is complete," Seok-won confirmed. It was only temporary capital, so he wasn't disappointed to give it back.
"Chairman Park will be pleased with the results, no doubt," President Choi remarked, nodding slightly. The chairman would be thrilled not only with the profits but also with the fact that his youngest son had successfully managed his first investment despite initial concerns.
And the chairman's trust in President Choi, who had helped make this success possible, would grow even stronger. Naturally, this thought brought a smile to President Choi's face.
"Speaking of which, didn't we agree that you would receive 30% of the investment returns as a bonus?" President Choi asked.
"Ah, yes, we did," Seok-won replied.
With 150 billion yielding a profit of 19 billion, Seok-won's bonus would amount to 5.7 billion won— a hefty sum for less than a month's work.
"To think you made such a profit in such a short time is incredible," President Choi said, clearly impressed.
"Come to think of it, half of the trading profits go to you, Team Leader Park. That's enviable," Director Ko added with a nod, his tone filled with admiration.
When Seok-won had negotiated the terms, he had secured the right to independently manage the funds and take home half of the trading profits as a bonus.
'I have to take care of myself first,' Seok-won thought.
Considering that incentive programs weren't yet widely adopted in Korea, it was a huge privilege, one that was likely only available to the chairman's son. Director Ko's envious gaze only confirmed that.
"I plan to share some of the bonus with my team members. Would that be alright?" Seok-won asked suddenly.
"What?" Both President Choi and Director Ko were taken aback, their faces showing clear surprise.
"Did you just say you're going to share your bonus?" President Choi asked.
"Yes. It was our first project together, and I believe sharing the bonus will boost morale and foster a stronger sense of teamwork," Seok-won explained.
President Choi let out a low whistle, clearly impressed. "It's not a bad idea. But given the substantial profit, the company will likely provide a separate performance bonus. Is it really necessary to share your incentive?"
"While the company's bonus will be appreciated, an unexpected bonus like this will likely be even more rewarding for the team members," Seok-won replied.
"Well, there's no harm in it," President Choi conceded after a moment of thought. "It's your money, so do as you see fit."
"Thank you."
"The team 4 members must be really happy," President Choi said with a chuckle. Director Ko nodded in agreement, "Indeed, they'll be the envy of everyone else."
"If they're envious, they should try to achieve results like Team 4," President Choi quipped as he raised his teacup.
Then, as if remembering something, he added, "By the way, there's one more thing I wanted to ask you."
"Go ahead, sir."
"You received 200 billion worth of shares in the top five market-cap stocks from the company and sold them all before the crash, didn't you?"
"Yes."
"There was no need to take that risk since you weren't short-selling with leverage. Why go through the trouble?"
Since they weren't short-selling, there was no direct profit to be gained from the market's decline. On the other hand, if the stock prices had continued to rise, Seok-won could have faced backlash from the other teams for forcibly taking their shares.
It would have been simpler to just hold onto the cash and wait for the crash to buy in, so it was understandable that President Choi was puzzled.
"I found that the company held a significant amount of the top market-cap stocks," Seok-won replied nonchalantly.
"That's to be expected when investing based on the index," Director Ko remarked, and President Choi nodded in agreement. It was standard practice among securities firms, so it wasn't surprising.
"With signs of a downturn, it was clear that leaving those stocks untouched would lead to significant losses for the company during the crash. I wanted to minimize that damage," Seok-won explained.
In the crash, not only individual investors but also securities firms had suffered significant losses as they dumped their falling stocks. But thanks to Seok-won, who had sold off a large portion of Daeheung Securities' holdings just before the crash, the company had been able to minimize its losses.
While Team 4's success was remarkable, the fact that President Choi and Director Ko could sit here and discuss it with smiles on their faces was largely thanks to Seok-won's foresight.
Realizing what they had overlooked, President Choi let out an exclamation. "I didn't realize you had thought that far ahead."
"Without Team Leader Park, the trading department would have taken a heavy hit," Director Ko admitted, clearly impressed. Indeed, Daeheung Securities had weathered the crisis relatively unscathed, largely due to Seok-won's actions.
As President Choi regarded Seok-won with renewed respect, he couldn't help but think to himself, 'He says he didn't know, but I'm sure he was aware the Financial Real-Name System was coming.'