“Treat me to something big.”
When I arrived at the office early in the morning, Department Head Oh approached me, holding up a document.
“Sir, don’t tell me...?”
“The division head approved it. The two trillion won in venture funding will be raised within the month.”
Faster than I expected!
With a fund of this scale, I thought it would drag on until the end of the year, but it had been established much sooner than expected!
“You’d better know it’s thanks to me. The division head was practically shedding tears of blood, and I pushed it through because I trusted you.”
“Thank you. As expected, you’re the best, sir!”
“The best, my ass. Anyway, have you thought about where you’re going to invest?”
“Yes. Since the automobile market is urgent, I’m thinking of starting with investments in that industry. For the selection process, we’ll first receive recommendations from companies, then review the detailed areas ourselves before making the final decision.”
When I handed him the materials and company profiles I had organized, Department Head Oh couldn’t lift his head for a while.
“Team Leader Lee... I can understand autonomous driving and battery startups, but what the hell is this...?”
“Ah, that’s a flying car development startup.”
“That’s what I’m asking, what the hell is that...?”
“You know Alef Aero, right? The company backed by SpaceX that developed that flying car. Among domestic startups, there’s only one place working on related development, and that’s this company.”
“You bastard, you think I’m asking because I don’t know Alef? I’m asking why we’re spending money on guys like this. This isn’t supporting startups, this is throwing money into thin air.”
Department Head Oh’s scolding continued today as well, but I could only grin from ear to ear.
There had never been a case of a pension fund investing two trillion won in startups. Considering Korea’s annual R&D budget was around thirty trillion won, this was like being allocated ten percent of the national R&D budget.
It almost felt like I had become the Minister of Science and ICT.
“What can we do? Teslan’s technology keeps surging ahead like that.”
“Hey, even so, this isn’t it! At least the other ones have some justification, but if we invest in something like this and it goes under, we’ll have nothing to say even if we’re dragged into a National Assembly audit.”
“Still, we have no choice. We need to follow one step behind before Teslan creates another super-gap technology.”
“Are you seriously going to be like this? Even if the prosecution slaps you with a warrant, you’d have nothing to say about this!”
I smiled bitterly and said,
“Sir, don’t you find it strange? Even if you add up the market cap of the entire global automobile industry, it’s lower than Teslan alone.”
“...What?”
“In terms of operating profit, they’re not even first—they’re lower than Asan Motors—but Teslan’s stock price is thirty times higher.”
“This bastard is talking nonsense again. What are you trying to say?”
“I think it’s expectation. Because people believe the technology they have will someday change the entire industry landscape, just like smartphones did. That’s why I think global capital is all flowing into Teslan.”
“So you’re preparing to go to Mars too? Seems like the people’s retirement funds are going to fly into the sky before the cars do.”
“Haha.”
“Don’t laugh. You and I need to talk more about this part. A car that flies in the sky is just not it, no matter how I look at it!”
To the now tearful-looking man, I pulled out the magic spell.
“Sir. This is Changcheng Fund’s rate of return for last quarter, posted yesterday.”
“...What?”
“They’re truly amazing people. They invested very aggressively in cryptocurrency and the Shanghai stock market, and they say they’ve already recovered more than the principal. It’s almost strange that other people didn’t recognize such a skilled fund company.”
“...Are you really going to do this? You’re going to spend this blood-like money on science fiction otaku?”
“The richest man in the world right now is an otaku who wants to go to Mars. What can’t be done?”
“Hah...”
“Trust me just this once. We have to try anything we can.”
Department Head Oh collapsed into his seat with an exhausted expression.
“I’m the fool for trying to persuade you. Who could stop a bastard like you?”
“Haha.”
“Fine, I said I’d trust you and leave it to you, so give it a try. I sincerely hope the second flying car in Korea comes out of this.”
“Thank you.”
“But there’s one condition.”
Department Head Oh straightened up.
“You have to go along with this.”
“What is it...?”
“Your personnel decision has been made. There’s an opening for a team leader in the Securities Risk Management Office. Work under me.”
“...Excuse me? No, the Investment Office suits me perfectly.”
“You think the Risk Team can’t invest? The pension fund’s big picture is decided at the risk meetings anyway.”
“But I won’t be able to get involved in detailed investments...”
“Handle that at your discretion. Like how you coaxed Director Choi in the past and invested heavily in defense. I discussed it with the division head several times, and we concluded it would be a waste to use an ox-butchering knife to kill a chicken. The personnel order will be issued soon.”
I knew.
The Private Equity and Venture Office I wanted to go to was, if compared to the prosecution, like the Gangneung or Tongyeong branch office with clean air and a quiet atmosphere... Even so, I had wanted to burn this body of mine to write Korea’s venture legend, but apparently that was too much to ask.
“Understood. I’ll do my very best, as much as the trust you’ve placed in me!”
After receiving my spirited answer, Department Head Oh shook his head and headed toward his office.
“A flying car in Korea... Crazy bastard.”
*
“Hello, CEO Ming. It’s been a while.”
“It certainly has. I heard you were promoted to a good position. Congratulations once again.”
CEO Ming’s face, as I met him in Seoul after a long time, was brighter than ever.
After all, short-selling the KOSPI and the recovery of the Chinese stock market had doubled his seed money, and cryptocurrency had soared through the roof, doubling it again.
Thanks to that, Changcheng Fund, which wouldn’t have been strange to see go under tomorrow, had miraculously revived.
“You flatter me. I’ve been hearing a lot of good news about Changcheng Fund lately as well.”
“Ah, the委托 proposals? Haha.”
“Yes. Where have they come from?”
“Well, quite a few places... but the most surprising thing was that even American university endowments, such as the Yale Fund and Harvard Fund, sent proposals.”
“Wow—at this rate, won’t proposals from IRAs and 401(k)s be coming soon too?”
“Who knows. Those people would have to be as free of prejudice against China as you are, Team Leader. Well, as long as anyone entrusts us with money, we’re confident we can earn our keep. Haha.”
He laughed heartily, then immediately changed his expression.
“But I turned them all down.”
“Why...?”
“Because I want to focus. No, the truth is, I felt it still wasn’t my own skill.”
“...Pardon?”
“Most of Changcheng Fund’s recent returns came from your portfolio, Team Leader. Of course, our own returns aren’t poor by any means, but when someone right next to you is earning several times that, it’s hard not to feel intimidated.”
There was likely some flattery aimed at an employee of the client, but looking at his eyes, at least half of it seemed sincere.
“You’re too kind. Thank you for saying that.”
“But what brings you here today? Is there perhaps some special fund to deliver to Miss Meilin...?”
“No, today I wanted to discuss investments.”
At the mention of investments, CEO Ming became even more tense than when discussing embezzlement.
“Investments... If you said this was something we had to discuss face-to-face, it must be something extraordinary again.”
“Yes. You probably won’t be able to understand it. But you’ll have to follow it.”
“Is it an even more shocking investment target than cryptocurrency...?”
I smiled bitterly. It wasn’t even comparable.
“Most likely.”
“Where on earth are you thinking of...”
“CEO Ming, as you know, the U.S. presidential election ended in a Republican victory. You know that, right?”
“Yes. Thanks to that man being elected, the U.S. stock market is more prosperous than ever. To be honest, we also diversified into several Big Tech companies as part of risk management, and their returns are currently better than our China returns. I suppose this is why everyone says America, America.”
“Yes, please sell those.”
“Pardon?”
“Futures, options, ETFs—anything is fine. Personally, I’d like you to go as far as full-leverage futures investment and short selling with full loans... but I won’t ask you to bear that much risk.”
“N-No, wait a moment! So you’re telling me to bet on a downturn in the U.S. market?”
I nodded.
“...Why?”
“Because things don’t feel right.”
“...What doesn’t?”
“The recently elected President Donald keeps making anti-market remarks.”
“...He did that in his first term too.”
“And unlike his first term, everyone around him now is nothing but yes-men.”
“...”
“I have a feeling he’s the kind of person who has to eat shit to know whether it’s shit or soybean paste... and in his second term, I think he’ll try eating it. Of course, he’ll spit it out quickly. Let’s just take shelter for a very short while.”
“But isn’t that far too reckless a gamble? The Nasdaq is in an unprecedented bull market...”
“That’s why I wanted to speak to you in person, CEO. On this matter, you need to follow my intuition. Can you do that?”
CEO Ming was not a man lacking in perception. Though I had phrased it as a request, he knew it was an order.
He sighed repeatedly and mulled it over, then asked in a barely audible voice.
“...By when should it be done?”
“It won’t take that long. The transition committee is being formed now, and there are six weeks left until the inauguration, so please handle it by then.”
“...Are you really that certain? You think that man will cause an incident as soon as he takes office?”
“The Republicans have firm control of both the House and the Senate, and everyone around him is a yes-man. Who around him would stop him? No matter how I look at it, he’s a man who will try eating shit.”
CEO Ming lowered his head deeply and said,
“Understood...”
*
“Congratulations, Assemblyman!”
At the same time, in a hotel in Seoul.
Meilin handed over a bouquet and congratulated Lee Chanho.
“Hoho. Thank you. Being congratulated by a friend I made during difficult times makes me twice as happy.”
“Is that so? Hoho. I don’t know much about Korean politics, but I heard both the general election and the presidential election ended in landslide victories. As my father said, your leadership is truly outstanding, Assemblyman.”
“Well, it wasn’t that I did well. That party just did terribly.”
“Does everyone score just because they get a penalty kick? The landslide victories in the general and presidential elections were, no matter what anyone says, your skill, Assemblyman. Hoho.”
As she said that, Meilin took out a bag.
“And this is a small gift from my father. If I could, I would like to meet and congratulate each of the assemblymen you introduced to me before, but I feel that would be somewhat burdensome now. Would it be all right if I delivered it to you as their representative?”
“That would be good for us. It’s a time when we have to be careful about meeting people anyway.”
“I’m glad. I will continue to wish the Minguk Party success from afar.”
“I’m truly grateful every time. Thanks to President Zhang recognizing my potential early, I had to swallow less of that nasty money myself. I was able to win some goodwill from my friends too. Heuheuheu.”
“I’m glad it was of help...”
“But Miss Meilin. Let’s stop now.”
“...Pardon?”
He took off his glasses and wiped them on his clothes as he spoke.
“You think I’ve only received money like this once or twice in politics? But no matter how I look at it, this isn’t right. This money is absolutely not from your father. Am I wrong?”
“Wh-What do you mean?”
“Before the election, I wasn’t in a position to be picky, so I accepted whatever money was given to me. But now, I need to know where it comes from. If you lie to me about an issue like this, then we’re no longer friends. Right?”
“...Assemblyman.”
With all trace of a smile gone from his face, he put his glasses back on.
“Who is my Daddy-Long-Legs?”