-Screech...
As I opened the door and stepped inside, Team Leader Choe was standing there awkwardly like a problem student called to the teachers' office. In Director O's eyes as he looked at me, killing intent surged forth anew.
It seemed today was the day of my funeral.
"...Director, I can explain everything."
"You little—!"
Would it have been better if I hadn't tried to make excuses at all? Director O roared like a lion.
"Explain? Fine. You two need to explain yourselves properly to me today. If you can't convince me, let's just all three resign together. Team Leader Choe, you first!"
"..."
"Recently, I Se-jun started selling blue chips and buying defense stocks. Team Leader Choe, why is your portfolio similar to his? Explain right now why you swept up six American defense stocks including Lockheed."
"Director... it's a misunderstanding."
"Misunderstanding?"
"It's true I discussed this with Manager I, but I haven't made any losing trades because of it. AIIG and Berkshire, which I bought before the earnings announcement, are significantly outperforming the market and are currently in the green by roughly 8%..."
*Bang!*
"Yeah, those probably went up. But natural gas hit record highs, and Lukoil and Gazprom are up about 13% right now—so why don't we have any of those stocks? You even sold off Russian bonds and had everything converted to foreign currency!"
"..."
"Team Leader Choe, this isn't an 8% profit—it's a 13% loss! Failing to earn money you could have earned is a loss!"
Team Leader Choe's face turned deathly pale.
"I'm sorry—"
"Sorry, my ass—tell me the reason! I'll let the defense stock purchases slide since we didn't lose money in the U.S. market. But why did you dispose of the Russian assets?"
"There appeared to be geopolitical risks... It wasn't official, but there were continuous unsettling reports in the Bloomberg newsletter..."
"Conspiracy theories run rampant 24/7 in the securities world! If Bloomberg newsletters were always right, we should have had nuclear war ten times over by now!"
Director O's veins bulged as his hands trembled.
"China is in a slowdown, Europe is hopeless, and the U.S. has risen too much... Team Leader Choe, wasn't this the conclusion our overseas team reached during risk discussions?"
"..."
"The company gives autonomy to fund managers like Manager I so you can act flexibly when market conditions turn urgent by the minute—not so you can do whatever you want! No matter what sector you think is promising, you have to follow the broad direction set in our meetings!"
Team Leader Choe bowed his head deeply.
"I'm sorry, Director. I was short-sighted."
"I hope you mean it. Team Leader Choe, I'm letting this go because you at least loaded up on financial stocks and are in the green. Keep an eye on the Russian stock market for now. Given the nature of commodities, if it spikes too fast, there will be a correction. Buy back in when I give the order."
"Understood."
Team Leader Choe left with a half-dazed expression.
When my turn came, Director O spat out coldly with a frigid face.
"I'm not going to talk long. Sell."
"...What?"
"We had a deal. If defense stocks fall more than 15%, we sell. The Ministry of National Defense halted Project Songgolmae, sending Rotem and KAI crashing to the floor. KAI in particular has hundreds of billions of won in accumulated deficits from the COVID era. We should be considering privatization, not scooping up stocks."
"..."
"You know the returns you made during the circuit breaker are already in the red, right? I'm only speaking nicely because it's you. I'll take full responsibility for the negative returns, so sell immediately."
I hung my head and clenched my fists with all my might.
Squeezing out every ounce of courage inside me, I answered like I was pleading.
"...Director, then could I buy just 20% more?"
"What?"
"...I'm uneasy. The international situation in the Western bloc is too unstable. Zelenskyy is pouring out hardline statements day after day, and the Kremlin is openly displaying its displeasure. Russia has already annexed Crimea—what's to stop them from doing worse?"
"Have you lost your mind? Fine, so defense stocks rose when Crimea was annexed?"
"..."
"There was barely any impact, and they actually fell further when the U.S. withdrew from Afghanistan. What on earth are you looking at to call these defense stocks!"
I squeezed out my courage once more. The calendar on Director O's desk caught my eye.
Was my memory wrong? Was it really just a dream? The warning signs should have appeared by now—so why was there still no word?
"This time will be different..."
"Different? Like hell it is! Do you know how many hours it took the Taliban to seize power after the U.S. withdrew? If Russia decides to annex, it'll be even faster. The war will be over before it can even affect defense stocks!"
"This time, it really... will be different."
"You bastard!"
Director O grabbed the report and threw it.
"Damn it. The division head was exactly right. We shouldn't have promoted you just because your investment performance was good for a year or two!"
"..."
"I misjudged you. Bring your security key right now and get your hands off the portfolio. Once the assets are all sorted out, let's talk about your future here."
It seemed this was as far as I would go. Was it just a dream that should have passed me by...?
Just as Director O stood up, Team Leader Choe suddenly burst through the door with an ashen face.
"D-Director! Something terrible has happened!"
"What now?"
"The thing is..."
"Hey, Director O!"
But before Team Leader Choe could finish, a shout from the head of the risk management division came from afar.
"Hey! Director O! How much are our Russian assets right now?!"
Seeing the risk management division head charging like an enraged bull, Director O stumbled backward.
"...What?"
"No time to dawdle! Tell me quickly! The White House just issued a warning statement to Russia! How much are our Russian assets?!"
*
Washington, D.C. U.S. National Security Council (NSC)
All defense-related officials, including the State Department, sat at their posts with stiff faces.
They were America's top security officials responsible for the world order. The reason their faces were so dark was because the worst-case scenario they had feared was gradually becoming reality.
"If I may, I would like to speak first."
Breaking the silence, the Chairman of the Joint Chiefs of Staff opened his mouth.
"Crystal clear... everything is clear now. Seventy percent of Russia's armored forces have already massed at the border regions. A considerable number of troops have also gathered along the Belarus-Ukraine border, which is presumed to be at Russia's instigation."
"..."
"If hostilities begin, Russian forces will aim to capture Kyiv in the shortest possible time. Once the capital is taken, next will be the media, and just like with Crimea, they will soon hold an annexation referendum, no doubt."
You didn't even need to look at the voting results to know how it would turn out.
The brown bears would cast their votes in favor of annexing Ukraine too.
"Joint Chiefs. If seventy percent of armored forces have gathered, doesn't that mean thirty percent haven't?"
"Mr. Secretary... we must abandon vain hope now! Russia has already made the decision for war. The Donbas region is strongly pro-Russian, so it won't take Russian troops even minutes to cross the border. Kyiv is in danger. It won't even take 48 hours to capture the capital!"
Ten hours ago, the White House had sent a direct warning statement to Russia.
Even though it could expose U.S. surveillance assets and intelligence networks, it warned against military action.
They couldn't bear the risk of war on top of an already struggling global economy.
"Secretary of State. Is the hotline with Russia still down?"
But Russia blocked all diplomatic channels and instead increased troops at the border. What on earth was the reason? Did America look laughable watching the helpless withdrawal from Afghanistan? Or did they gain confidence from the bloodless seizure of Crimea?
Whatever the reason, it seemed quite certain that the Kremlin had made 'a certain decision.'
When all intelligence reports were finished, the Secretary of Defense opened his mouth.
"I understand your frustration. But His Excellency the President's will is to somehow prevent war."
"But Secretary, if we keep issuing warnings, our surveillance assets and intelligence lines will be exposed even more deeply."
"Whatever the cost, it will be less than the price of war."
The Secretary of Defense gave a warning glance and continued.
"Joint Chiefs. Have you shared this with the Ukrainian side as well?"
"Yes, but informing them won't change anything. Ukrainian forces are far too insignificant compared to Russia's. Today, we seriously need to discuss weapons support or troop deployment..."
"Enough, enough. Now is the time to look for a diplomatic solution."
The Secretary of Defense continued to caution the Joint Chiefs, who were pressing him aggressively like Curtis LeMay.
Because although it was still classified, the White House's position was that it would not intervene even if war broke out.
"We can still sufficiently break their will to open hostilities. If we imply that we are scrutinizing every region of Russia like a microscope, Russian forces cannot help but be conscious of that."
"..."
"Secretary of State. What about the hotline?"
But the State Department could not deliver good diplomatic news either.
"The hotline isn't the problem... Russia has closed all diplomatic channels with us. Even after the White House statement, there hasn't been a single word. This seems to mean they will continue to ignore us going forward."
"What about Europe?"
"Dialogue simply doesn't work."
"What do you mean by 'doesn't work'?"
"Everyone sympathized regarding the possibility of a Russian invasion and said to my face that we must stop it. But the moment talk of increasing defense spending comes up, they're all too busy running away."
Europe was always consistent.
When talk of 'defense' came up, everyone clenched their fists. But when talk of 'defense spending' came up, they all glared.
"That won't do. This is a problem Europe must take the lead in solving!"
"Yes... so they say they will indirectly block Ukraine's NATO accession, but that's all. It would be best not to expect any further effort."
The Secretary of Defense was boiling with rage inside.
The causes went all the way back to the Soviet era, but however it happened, the recently triggered problem was Ukraine's NATO accession.
Then why was Europe, which should be stepping up most actively, only cheering with their mouths?
"T-The Secretary of Defense! A formal document has arrived from Russia!"
Then, a high-ranking official hurriedly opened the meeting room door and entered. The Secretary of Defense sprang to his feet.
"Finally! So, what does it say?"
"Well, it's..."
The Secretary of Defense's face was soon covered in rage as he took the document.
[Old friend, we were certainly allies when we fought the Nazis. Do not endorse the revival of neo-Nazis.]
He removed his glasses.
"Secretary of State, tell Europe. Ukraine's NATO accession is on hold, and for the time being, do not provoke Russia."
"...Understood."
"And Joint Chiefs, send an immediate reply to Russia."
The Secretary of Defense could no longer contain his surging rage and tore the document.
"Do not forget, Budapest"