“So you want us to hit Taelim Group?”
Hwang Onyu asked, narrowing his eyes.
“You’re twisting my words. Who said hit? I’m just asking you to lightly call them in for an investigation or something.”
“That’s hitting them.”
“Our Team Leader Hwang sure likes to blow things out of proportion. I never said to hit them. They look problematic in a lot of areas, so shouldn’t you call them in for an investigation? I’m filing a complaint.”
At my words, NIS Team Leader Hwang Onyu glanced at me.
“Fine, say it’s a complaint. But our NIS can’t interfere in domestic affairs. Didn’t you know?”
“What bullshit. Then what, was I marked and tailed because I’m a foreigner?”
Team Leader Hwang Onyu was rendered speechless at my words.
Even if he had ten mouths, he wouldn’t have had a thing to say.
This is why you should always behave well.
Seeing Team Leader Hwang keeping his mouth shut, I brought up my real business.
“Yeah, okay. If it can’t be done, it can’t be done. But you’ve gathered intel, right?”
I knew better than anyone that the NIS couldn’t interfere in domestic affairs.
It wasn’t like the prosecution doing media play and summoning them with cameras set up.
Being summoned by the NIS meant nothing either.
What I needed was intel on Taelim.
The NIS probably had at least that much.
I figured they wouldn’t just hand it over if I asked,
so I tossed it out there for no reason.
“We don’t have any.”
“Really?”
I spoke while looking into Hwang Onyu’s eyes, and Hwang Onyu slightly averted his gaze as he answered.
“We really don’t.”
“Come on, you must at least have basic corporate files compiled. Taelim isn’t some neighborhood corner store.”
“······”
“Fine. You’ve made team leader now, and Bae Jeonghun has been released, right? So there’s nothing left to squeeze out of me? That’s why you can discard me now?”
I turned my head slightly, pretending to be sulky.
“It’s not that; it’s sensitive information.”
“Understood, Team Leader. I’ll get lost, since I only deal with dull information. Thank you for everything.”
I stood up slightly and pretended to see myself out.
“Stop messing around.”
“Does this look like I’m messing around?”
I lowered my voice and let out a low growl.
At that sight, Hwang Onyu’s shoulders flinched slightly.
“Do you have any idea how much money I’m pouring into the Samhap Hoe right now to keep my promise to you? All because of that one word asking me not to eliminate them. I thought we had a proper deal back then, but I guess not.”
“···..”
Hwang Onyu couldn’t say anything.
“So it’s fine if others break the law or get ruined, as long as you’re clean? Is that it?”
“No, that’s not—”
“I thought I made a deal with a capable NIS team leader, but turns out I made a deal with some noble scholar.”
“That’s not it.”
“Then what is it?”
“It’s dangerous. I’m telling you it’s dangerous.”
“What is?”
“These Taelim bastards. They’re dangerous.”
“Shit. Speak so I can understand.”
“I only heard it as a rumor too. There’s talk that bad things happen if you dig into Taelim.”
“Hahaha. So that’s it? Isn’t that obvious? Of course they’d be upset if you dig into them. Why are you scared of something so obvious? You look like a gorilla, but you’re fucking terrified. Fine. If we’re doing this deal, bring the documents by tomorrow. If you don’t, our deal is off.”
.
.
.
Two hours later.
Hwang Onyu handed over a document envelope.
And gave me a warning.
“Be really careful.”
“Our noble scholar sure does worry a lot. Thanks. I’ll put them to good use.”
As I tried to check the documents, he stopped me and spoke as if making an excuse.
“Just so you don’t get the wrong idea after seeing the documents, I’m telling you in advance: what I’m giving you now is data collected before the NIS Act was amended. It’s not illegal data. It might be old, but the shareholdings and structure probably haven’t changed much. And this.”
Hwang Onyu held out another document envelope.
“These are profiles of the people currently in the succession structure. I brought them just in case they might help.”
“Heehee. Thanks. You really do good work. I sure know how to pick people.”
Team Leader Hwang only handed over the documents and went straight back.
I slowly skimmed through the documents Team Leader Hwang had given me.
Anna was reviewing them alongside me.
Anna, who had been looking for a while, let out a snicker.
“Wow. This company is just like Yun Taegyeom.”
“Why?”
“Because they’re sons of bitches.”
“Hahaha. What do you mean?”
“These bastards are playing games with customer money.”
“Really?”
“They’ve diverted insurance funds, pension funds, institutional funds, and customer money into high-risk products through back channels. If there’s a loss, it’s the customer’s loss; if there’s a profit, Taelim takes it as fees.”
I couldn’t help but admire what Anna said.
To think there was such an outstanding method.
I had no idea.
I chastised myself for having remained trapped within the limits of the law.
But I had to address what needed addressing.
“Isn’t this illegal?”
“It’s ambiguous. They structured the terms and conditions to make it possible. Should I say they’re walking the line between legal and illegal?”
“Thorough bastards.”
“Walking the line?”
“Yes. You could say they’re riding the border.”
The more I listened to Anna’s explanation, the more impressive the Taelim guys seemed.
They had created a structure with no responsibility and only profits.
They made investments bordering on gambling with customer money.
They didn’t care if the customers were ruined or not.
They lured customers with the final rate of return.
There was no compensation whatsoever for the many people who lost assets in the process.
If anyone tried to sue or left posts on the internet, they immediately countersued for defamation.
The trial results didn’t matter.
Taelim’s strategy was to drag out the legal battles as long as possible.
An individual could never fight Taelim, which had a legal team.
No matter how good a lawyer they hired, no one could win a prolonged legal battle.
Everyone either settled midway or gave up.
It was a trash company, just as expected.
I probably wouldn’t need the information on Yun Taegyeom’s rivals that Team Leader Hwang had brought.
If it were a decent company worth saving, I would have targeted Yun Taegyeom using competitors, but there wasn’t even a need for that.
The company called Taelim itself was unnecessary.
I think I’ll just have to blow Taelim away.
*******
Hong Kong, Samhap Hoe.
Du Mansik, having received orders from President Alex,
secretly relayed the orders to Heukhyang and the branch manager.
“From now on, keep spreading rumors that Taelim is going under.”
Those who heard the order asked back.
“Taelim? Where is Taelim?”
“I’ve never heard of Taelim before?”
The Samhap Hoe members didn’t even know of a company called Taelim.
It was a natural phenomenon.
Taelim wasn’t a company close to consumers.
It was a company that only operated within the financial sector.
It was an entity closely tied mainly to government agencies, corporations, pension funds, and private equity funds.
There was no way street thugs would know of it.
“It doesn’t matter. Just spread the information that Taelim is going under. I heard it from an insider; they have problems with funding. Legal action seems likely. I heard someone went to prison for embezzlement. Spread rumors like that. Especially around the financial district.”
The order was simple.
And the Samhap Hoe was very good at this kind of work.
They didn’t need to pick up guns or shed blood.
It was simply a matter of opening their mouths.
Instead of guns, they wore black suits and carried briefcases as they went to Hong Kong’s Central district.
They ate and drank at places where people from the financial industry gathered after work.
“Do you know Taelim?”
“Of course. Funds? Isn’t it a money management company?”
Before continuing, he looked around once and lowered his voice.
“There’s a rumor that place is going under. Their money is completely jammed up, and they’re using internal funds, but I heard even that’s reaching its limit.”
“Really? Then what happens?”
“What do you mean what happens? A liquidity crisis hits.”
“Then what about the people who put money in the funds?”
“If they can’t exit, their money’s just tied up. With no idea when they can get it back.”
“Then they need to pull their money out fast.”
“Obviously.”
These kinds of stories were flowing out from all over the Central district.
Naturally, they flowed to the next table, to the next shop.
Of course, the rumors spread, grew, and were exaggerated.
“Taelim? I heard their funds are terribly tangled these days?”
“They’re undergoing an internal audit, and the atmosphere doesn’t seem normal.”
“I heard they’re covering the losses with insurance money.”
A few days later, stories coming out of Hong Kong began to be heard in Singapore too.
Private bankers, hedge funds, and asset managers were all talking about Taelim.
The stories spread to Vietnam, Malaysia, and Thailand as well.
The same stories began circulating among sovereign wealth funds and pension fund managers.
“Doesn’t it seem like settlements on Taelim’s side keep getting delayed?”
“No? I think they’ve been happening on schedule?”
“Really? Well, we’ve put them on our risk list. There’s too much talk. There’s no harm in being careful.”
“Really? Should we prepare too?”
“If you put them on the risk list, you can use the excuse that you were monitoring them in case a problem arises later.”
“You’re right. We should take measures immediately.”
The rumors gradually became more concrete.
Taelim’s high-ranking executives were being investigated overseas.
Several employees had been fired for embezzlement.
They had spun funds around to cover losses, but the situation was now beyond their control.
The vague rumors gradually transformed into concrete ones.
In some cases, specific individuals were mentioned.
Upon hearing the rumors, asset managers began re-examining the funds they had placed with Taelim.
Whether exit was possible.
What the penalties would be.
The most important thing was,
the fact that there was a problem with Taelim had now become established fact.
The asset managers were already preparing their next steps based on the premise that Taelim had a problem.
Taelim, having belatedly become aware of the situation, sent official documents to each asset manager stating that it was nothing but a groundless rumor,
that their financial structure was very sound, and that all funds were operating normally.
They attached supporting documents as well.
But no one believed it at face value.
Taelim’s side was frustrated too.
They couldn’t find the source of how or where these rumors had leaked from.
No articles had been published,
no investigations had begun,
and no official sanctions had been imposed.
They had first come from Hong Kong and Singapore, but there was no way to know who had spread these rumors or why.
So there was nothing Taelim could do.
They needed to vent their anger, but there was no target for it.
If they insisted it wasn’t true, they were said to be overreacting,
and if they stayed silent, it became fact.
Taelim was unable to act one way or the other,
and was slowly withering away.
.
.
.
Hong Kong again.
Samhap Hoe headquarters.
Du Mansik put on a satisfied expression after hearing the report.
The rumors were faster than expected, and the impact was tremendous.
They didn’t need to do any more work now.
The rumors had become an independent life form.
They moved on their own.
Though without substance, they grew larger and were devouring Taelim.
Stories of redemptions were heard from all over.
The Samhap Hoe redeemed funds they held under borrowed names too.
Not exactly Taelim’s funds, but because they were affiliated with Taelim.
Having confirmed all of this, Du Mansik once again marveled at President Alex’s insight and offered a prayer.
He offered his prayer from within the embrace of the one who controlled all of this.
The number of bald men beside Du Mansik, who was offering his prayer, had grown much greater than before.
*******
Taelim Holdings weekly meeting.
The air inside the meeting room was very stifling.
Every Friday afternoon.
It was a time to review the week’s achievements and check the next week’s plan.
A time to show off one’s performance, like a boasting competition over who had done best.
But today was different.
With every report came continuous scoldings.
Some hung their heads,
and some were only reading the room.
It was the worst.
“The ‘Taelim Global Opportunity Fund’ that was redeemed from the Philippines has already faced redemptions in several countries, and inquiries about redemption are coming in.”
“We will probably have to drop the Taelim Global Opportunity Fund.”
“Besides that, places rapidly inquiring about redemption for the ‘Taelim Asia Strategic Income Fund,’ ‘Taelim Emerging Value Select Fund,’ and ‘Taelim Global Multi-Asset Hedge Fund’ are increasing sharply.”
The report was filled with numbers and graphs as always,
but the content contained within was nothing like usual.
‘Inquiring’ meant,
the decision had already been made.
Vice President Yun Taegyeom covered his face with his hands after hearing the report.
This situation could not be explained in words.
There had been no risk, and yet one had appeared.
They had managed risk so thoroughly, and yet one had appeared.
The problem was that they had no idea where this risk had come from, how it had spread, or what measures they should take.
It was hopeless.
Worry over how to report this to the chairman came first.
It felt as if he had taken another step farther away from the line of succession.
Whenever that unease swept over his entire body, the words that bastard had said came to mind.
When something fucked-up happens, remember that moment.
Is this what that bastard warned me about?
If he were beside him, he wanted to say it.
That things had become fucked-up enough, so stop already.
But this did not seem to be the end.
An ominous thought kept nagging at him, as if there was still something more to come.
Just then, an employee opened the conference room door and came in.
His face had already gone deathly pale.
“What do you think you’re doing? Do you even know where this is, barging in like that?”
One of the executives took his anger out on the wrong target.
“I’m sorry. It’s extremely urgent.”
“What is it? It had better be urgent.”
The employee swallowed once, then spoke.
“China has just requested a full termination of all funds managed by Taerim.”
“What?”
In that instant, the conference room froze.
The executives’ faces turned ashen.
China was Taerim’s biggest client, the one that had entrusted the largest amount of capital to them.
If China pulled out, the damage would be truly catastrophic.
They had to stop this.
But that was not the end.
“On top of that, they say they will indefinitely postpone all new contracts and renewals that were under negotiation.”
“What? Those bastards…”
One executive tried to erupt in anger, but perhaps because the shock was too great, he could not even curse properly.
“And…”
The employee hesitated.
“What is it? Spit it out.”
“The Chinese financial authorities have notified us that they will conduct a full investigation into our overall fund management, saying there may be violations of the law.”
“They also mentioned that if any violations are found, there could be not only fines but also asset freezes within China and restrictions on future transactions.”
Not even the sound of breathing could be heard in the conference room.
It fell into perfect silence.
No one could speak.
This was not a simple loss.
This was close to a declaration that trust had vanished.
And the fact that China had made its exit meant there was a high chance other countries would follow suit and pull out as well.
Yun Taegyeom raised his eyes and looked at the people.
For the first time, he saw them as they were, not as objects.
Despair and terror had settled on their faces.
Yun Taegyeom’s own face was probably no different.
And yet, what surfaced in his mind at that moment was not worry about the future.
It was the face of that man who had strutted around with 100 trillion in his grasp.
The face of that man who had offered him 100 trillion to stay away from Kwon Jua came to mind.
He could not forget that expression, as if he had known all of this would happen.