Chapter 1

1. Future and Past (1)

“Aaah.”

Mapo Bridge, situated at the northern end of Yeouido, known as the number one financial district of South Korea, was being fiercely swept by the cold winter wind.

Leaning against the railing of Mapo Bridge, a man was bursting into tears.

He was about 60 years old, with thinning, graying hair, and appeared to be in his early middle age. Judging from his neat attire in a relatively high-quality suit, he looked like an executive of a mid-sized company.

The Mapo Bridge, shrouded in darkness as night deepened, was deserted. Although there were occasional passing cars, they were far fewer and less lively compared to the past. Even during the year-end, the city lights were dim, and the streets were quiet. All of this was due to the second foreign exchange crisis that had hit South Korea.

“Huh-huh-huh.”

Yuseok Jun, the man, was weeping and clenching his fists. Standing on the bridge, he looked utterly pitiful.

It was Christmas Eve, but the atmosphere around him was far from festive. At a time when he should have been in high spirits, the surroundings were eerily silent, and there were few people, let alone Christmas carols.

“I... I went bankrupt.”

Yuseok Jun's sobs were filled with frustration. A few days ago, he had lost all his wealth, which he had accumulated over nearly forty years, and he had no other choice. In the bleak social atmosphere and uncertain future brought on by the foreign exchange crisis, the only path left for him was to take his own life, to commit suicide.

The dark river flowing in the darkness obstructed his blurred vision. Like the long passage of time, the river was flowing slowly. He was about to jump into the river and end his bitter life.

About a week ago, on the second Thursday of the previous December 9, 2027, it was the expiration date of the derivatives market (the day when stock and futures prices are aligned for settlement). Four derivatives, including stock index futures, reached their expiration date in the stock market.

On the expiration date, the stock market experiences significant volatility as the operators of each product engage in a power struggle. This happens monthly or every three months, so while not frequent, it is not uncommon and is not particularly special.

However, the 9th was different. On that day, the KOSPI Composite Stock Price Index plummeted by a staggering -18%. If the declines over the past three days were added together, it reached a shocking -32%. Domestic institutions that had maintained opposite positions to foreign investors recently were unable to liquidate their derivative positions due to the rapid and consecutive declines. The impact of this was evident on that day.

The massive stock market crash led to a financial shock. Banks, securities, and investment trusts that suffered huge losses in the stock and derivatives markets were declared bankrupt on that day. The shock was directly transmitted to customers and citizens.

While some lost, others gained. The entities that sold stock index futures and bought put options on the stock index, contrary to the institutions (banks, securities, etc.), amassed enormous wealth. The profits were not just double or triple but multiplied by tens or hundreds. It was a bonanza of unprecedented scale.

While such bonanzas in the derivatives market were not uncommon, this day was particularly special in terms of scale and the entities involved. Most importantly, the majority of those who made huge profits on that day were foreigners. Among them, the biggest winner was LTCM, with rumors circulating that their profits exceeded tens of trillions and even hundreds of trillions. Naturally, those on the opposite side, who suffered equivalent losses, had no choice but to go bankrupt.

The bankruptcy of financial institutions, especially banks, on that day triggered a financial crisis, and South Korea plunged into its second foreign exchange crisis. Unemployment surged, and companies went bankrupt. The dollar soared, and the won plummeted. Everything seemed to be over. Suicides were rampant.

In a sense, Yuseok Jun was merely a victim lost in the chaos.

Until the expiration date, he was a successful financier. The SJ Investment Finance he founded was a small investment firm but had solid fundamentals and good returns. His clients, who entrusted their money to him, were satisfied with the superior returns compared to other places.

All of this changed after that day. His company suffered irrecoverable losses on the expiration date. Even if he liquidated all the assets of the financial firm and sold his house and property, the losses could not be covered. The clients were in an uproar, but he had no solution. He had no funds and was left with an unimaginable amount of debt. A comeback was impossible for him.

Yuseok Jun had only one choice: suicide. Despite his hard work and dedication, his life had ended in bankruptcy, and he could not pinpoint where it all went wrong.

Once a renowned financial expert who had even founded an investment firm, he was now ending his life in this manner.

He wiped away his tears with his sleeve and bit his lip. It was time to end everything, to put an end to the pain that had plagued his heart.

Just as he was about to climb over the railing to jump into the Han River below, someone grabbed him.

Through his tears, he saw a man staring at him. It was someone he had never expected to see there: his close friend, Goo Inhyuk.

“Y-You... Inhyuk. Huh-huh.”

Sobs escaped Yuseok Jun's lips. He tried to stop crying but could not contain the pain and suffering that burst forth.

Goo Inhyuk, gripping his arm, shouted coldly.

“Isn’t it too irresponsible to just leave like this? At least such behavior doesn’t suit you, Yuseok Jun.”

“But I have no other choice.”

Yuseok Jun bowed his head deeply. Sighing, Goo Inhyuk shook his head.

“We’ve known each other for 40 years since we first met in college. I’ve never seen you so helpless in those 40 years.”

“Huh-huh.”

Yuseok Jun, unable to control his tears, collapsed at the cold words of Goo Inhyuk.

After some time, Yuseok Jun's sobs gradually subsided.

Goo Inhyuk, patting Yuseok Jun's shoulder, helped him up.

“You can’t end it like this, can you?”

Yuseok Jun could not say a word. No matter how much he struggled, it seemed impossible to escape this dire situation. He leaned against the railing, his body trembling.

After a long while, Goo Inhyuk, with a determined look, led him away.

Yuseok Jun heard Goo Inhyuk's calm voice in his ear.

“Let’s go, there’s a place we need to go. If you listen to me, the world will look different.”