Chapter 3

I have become the genius grandson of a securities tycoon - Chapter 3 (3/477)

Chapter 3: The Tycoon's Grandson (3)

Jaejun, who would normally be fidgeting and looking outside or tilting his head to gaze at the sky, stared straight at Im Byungdal.

Even Jeong Manager, who usually maintained a poker face, turned his gaze to Jaejun out of some inexplicable curiosity.

'Something has changed.'

A person's actions don't change just because they decide to. They need to go through a significant trial or their environment must change to a degree they can't handle.

'What happened? Could it be because of a traffic accident?'

In any case, if he had a traffic accident that could cause short-term memory loss, it might have been a significant trial.

"Mr. Jaejun. I understand. Please tell the Chairman what you want."

Jeong Manager nodded slightly, as if encouraging Jaejun to try.

Bowing his head, Jaejun took a deep breath.

"I have one last thing to say."

A glint of interest flashed in Im Byungdal's eyes.

'Look at this guy. He's not backing down?'

"...Try it."

"I will tell you about the future of Hyunjae Securities that I have identified."

Im Byungdal leaned forward, his face full of curiosity.

'The future of Hyunjae Securities?'

Jeong Manager barely restrained himself from jumping in.

Jaejun briefly turned his head to Jeong Manager before focusing back on Im Byungdal.

'Does he really have something?'

Jaejun spoke solemnly to Im Byungdal.

"To grow Hyunjae Securities into a global financial firm, we need to cultivate capable analysts."

He hadn't expected to use the briefing he prepared for the interview in this way.

It was satisfying to see the expressions of Chairman Im Byungdal and Manager Jeong change with each word he said.

"Ultimately, we need to actively attract retail investors and aggressively increase their proportion."

At that time, securities firms heavily relied on companies and major investors. Retail investors, often called "ants," did not hold a significant share.

After a moment of silence,

Im Byungdal gave Jaejun a wry smile.

"You must have heard something somewhere. But just repeating what you've heard isn't enough for you to join the company. Maybe if you could speak English... You should go back to study abroad..."

"I will tell you about the future of Hyunjae Securities that I have identified..."

The fluent English that flowed from Jaejun's mouth caused the expressions of Chairman Im Byungdal and Manager Jeong to change dramatically again.

Seeing the two of them, who were now unable to keep their mouths shut, Jaejun bowed slightly, a sign of confidence.

'...Surprised, aren't they?'

Chairman Im Byungdal, who had just managed to compose himself, looked at Jaejun closely and spoke.

"Ahem! To be honest, I'm a bit surprised by your English skills. I thought you just played around while studying abroad. Hmm."

The end of Im Byungdal's sentence trembled with surprise.

But after a moment of a stern expression,

"But tell me, how can I trust you, who can't control your temper and causes trouble all the time?"

'Is it still not enough?'

It seemed this troublemaker had failed to inspire much trust.

To win over Im Byungdal and join Hyunjae Securities, a bold strategy was needed.

'I'll strip off the chaebol label and join.'

"I will join as a regular employee. No, I will take the entrance exam to join."

"...A regular employee? Entrance exam? Just seeing your face, the managers and vice-presidents would drop you. And even if you pass, everyone knows you're my grandson. How is that a regular employee?"

"Please conduct a blind recruitment process, including me, for all employees."

At that time, there was no such thing as a blind recruitment process.

For chaebols, the intense entrance exams were someone else's story.

After all, they could just join the family-run company.

"Blind...?"

"It means taking the exam knowing only the candidate number. It's selecting employees based solely on their abilities, without considering their educational background or connections."

"...Even if that's the case, what can you do without any background?"

"I want to be evaluated based on my abilities, not as the chairman's grandson. Almost no one in the company knows me, right?"

"Hmm, are you confident?"

"Yes."

Chairman Im's penetrating gaze deepened.

'Not as an executive, but to take the exam and start as a regular employee...'

"...Let me think about it."

Thinking about it meant the decision was already made.

"Thank you, Grandfather. And... "

"What is it?"

"My bank account. I want it back."

"Why don't you just ask for pocket money? I can't give you the account."

The account referred to the inheritance from Jaejun's parents.

Jaejun shook his head firmly.

This is a different issue from joining the company. The dollar is about to skyrocket. I need to buy as much as possible before that happens.

"I'm truly sorry for causing you so much trouble. I want to change. Please give me the account as a last chance. I will show you a respectable side."

"What do you plan to do with that money?"

"Buy dollars."

"Dollars?"

Grandfather looked at Jaejun with a stern expression.

"Are you planning to engage in currency speculation? What a pitiful guy. That's all you can think of?"

Jaejun was momentarily speechless with surprise.

'No, currency speculation...?'

"Grandfather, are you talking about the currency speculation where overseas workers save on remittance fees?"

"Of course. Why would an individual want to buy dollars? Money should circulate. It's useless if it's locked in a safe."

'Grandfather, but the IMF crisis is about to hit, and it will be very useful. I can't tell you I know the future. Where should I start...?'

Jaejun took a deep breath, trying to suppress his frustration.

"South Korea's foreign exchange reserves are decreasing, while foreign debt is rapidly increasing. It will soon exceed the 2.5 times threshold set by the International Monetary Fund. Do you know that?"

Im Byungdal looked at Jeong Manager and shrugged, as if to say, 'Can this guy really say such things?'

When Jeong Manager whispered something to Im Byungdal, he nodded and then spoke to Jaejun.

"Companies are expanding everywhere. To become a global giant, taking on debt is natural. What do you know about foreign debt? It will be paid off soon."

'No, it won't, Grandfather.'

"Grandfather, today, the 30-year U.S. Treasury bond yield, which is a key indicator of the U.S. bond market, surged from 6.46% to 6.70%, a 0.24% increase. Do you know what that means?"

It meant everyone was buying U.S. bonds.

The bond market, with its minuscule yield, was a place where large sums of money moved.

A 0.24% increase in a day, when the annual increase was usually 1-2%, was a day that foreign dealers called a 'Friday crisis,' a day that could make or break a year's worth of work.

Im Byungdal looked at Jaejun as if he couldn't understand him.

Jaejun, gaining confidence from Im Byungdal's expression, continued.

"To explain the reason would take a long time. But as dollars flow into the U.S., the dollar will depreciate. Now is the opportunity."

Grandfather turned his gaze from Jaejun to Jeong Manager.

"Jeong Manager, how much have we invested in U.S. Treasury bonds?"

Jeong Manager, who had been staring at Jaejun, immediately answered the grandfather's question.

"About $1 million."

"Hmm. Thanks to the U.S., we will see some profit."

Jaejun shook his head again.

"Grandfather, that profit is not important."

"...What do you mean?"

Chairman Im Byungdal's expression, which had been slightly amused, suddenly hardened.

"The Federal Reserve will raise interest rates."

"...Raise interest rates..."

"Yes. All the foreign currency invested in Korea will flow back to the U.S. It will be more profitable to keep the money in U.S. banks. Naturally, dollars will flow into the U.S."

"So you're saying the dollars in Korea will soon disappear...?"

"Yes, Grandfather. We need to buy dollars as soon as possible."

Im Byungdal's eyebrows twitched, but he still seemed skeptical.

Jaejun emphasized again.

"We need to act before the dollars disappear."

IMF.

To avoid the economic crisis, he needed to convince his grandfather now.

They needed to stockpile dollars.

Chairman Im Byungdal fell into deep thought.

'Buy dollars...'

It wasn't a difficult concept, but it was hard to believe that Jaejun, who had such limited economic knowledge, could say such things.

'Still, I need to investigate.'

He couldn't dismiss his grandson's words so easily, as they had some merit.

Chairman Im Byungdal looked at Jaejun, who was deep in thought, with a sense of pride.

'Look at this guy. He can predict currency movements based on U.S. interest rate hikes and changes in U.S. Treasury bonds? And even foresee the crisis in South Korea?'

South Korea, one of the four Asian tigers and the 14th largest economic power.

'...The dollars will disappear...'

Watching his grandfather's contemplation, Jaejun added.

"Grandfather, while buying dollars, I also plan to invest in U.S. stocks. Mainly in large, stable companies that can be sold at any time."

"U.S. stocks?"

"Yes."

"...I understand. Go back to your room now."

Jaejun bowed deeply and left the study.

After confirming that his grandson had left, Chairman Im Byungdal glanced at Jeong Manager and asked.

"What do you think?"

"He seems sincere."

"Does he?"

"Yes."

"Can we trust him?"

"During his seclusion, he read economic newspapers and major dailies every morning and watched the news regularly."

"Is that so?"

"He also got rid of the alcohol and cigarettes he kept in his closet."

"Hmm."

His only grandson.

A pitiful child who lost his parents in an accident and was raised by a nanny.

Because he indulged him in everything, he became a troublemaker.

Im Byungdal thought he himself had contributed to the boy's unruly behavior.

"Jeong Manager."

"Yes, Chairman."

"Check the information he mentioned earlier with the economic research institute."

"Understood."

***

Time passed quickly.

Jaejun passed the blind recruitment process as the top candidate.

The data and analysis confirmed by Chairman Im Byungdal through the economic research institute matched Jaejun's opinions.

And now.

Jaejun spoke directly to Jeong Manager, who was sitting in front of him.

"Manager Jeong, you know my condition, right? Short-term memory loss."

"...I know."

"I'm just curious, so don't misunderstand. How much cash can I withdraw from my account immediately?"