Chapter 7

7. Opening an Account (1)

Yuseojun didn't get along well with his classmates. Half of the students in his department were from Seoul or the metropolitan area, and half of them were from the affluent Gangnam 8 school districts.

Since he mostly ate lunch at the dormitory cafeteria, he naturally had less time to socialize with his classmates. When he didn't use the dormitory cafeteria, he went to a student cafeteria near the main building. There were several restaurants on campus, but the student cafeteria was the cheapest.

Students with more leisure time preferred other restaurants over the main building's student cafeteria. For these and other reasons, he had few opportunities to socialize with other students.

His roommate, Goo Inhyuk, was the same. In fact, Goo Inhyuk had a somewhat eccentric personality and often immersed himself in his own research, so he didn't enjoy socializing with departmental students.

Their similar behaviors increased the time they spent together during the day.

When they had long breaks, Yuseojun and Goo Inhyuk would lie on a corner of the wide lawn called "Willow Valley" on campus. Lying on the grass, Yuseojun would open his general English or Korean literature books and study. In contrast, Goo Inhyuk would lie down, look up at the sky, and often get lost in his own imagination.

Sometimes, when Yuseojun saw Goo Inhyuk with his eyes closed, he thought he was sleeping, but it didn't take long to realize that wasn't the case. Goo Inhyuk was calculating and experimenting in his mind, much like how Einstein was engrossed in thought experiments.

One day, as the cold subsided and the spring air grew thick, the two of them were lying on the lawn at Willow Valley, looking up at the sky. Enjoying the gentle spring breeze, Yuseojun asked:

"Inhyuk, do you know anything about stocks?"

"Ask someone who knows. If I, a science student, knew about that, I'd be a genius, right?"

"But didn't you say you were a genius?"

"Ah, a science genius! Not a humanities genius."

Goo Inhyuk seemed uninterested in stocks. His response was as expected.

"Why? Are you thinking of trading stocks?"

Goo Inhyuk's eyes turned to Yuseojun.

Yuseojun smiled and nodded.

Goo Inhyuk waved his hand.

"Come on, I know one thing about stocks: you lose. It's better not to do it."

Most people would answer similarly when asked about stocks. Goo Inhyuk was no exception, especially since he was a science student.

Yuseojun smiled.

"That's true, but the stock market is the flower of capitalism. In a modern capitalist society, ignoring stocks isn't a good idea."

"Is that all?"

"No, actually, I wanted to major in economics. I wanted to specialize in finance. I ended up in philosophy by chance."

There was no need to say more. Goo Inhyuk seemed to understand the meaning of those few words.

Goo Inhyuk patted his shoulder and said:

"Then do it. If I were you, I'd do it. You're most efficient when you study and research what you're interested in. If you want to trade stocks, go for it. Who knows? You might become a famous fund manager someday."

"Maybe I should?"

"First, lose everything!"

"Deal. Deal."

Goo Inhyuk laughed at Yuseojun's frowning face.

He had already decided to dive into the stock market, so he didn't really need Goo Inhyuk's opinion. But it was nice to have his support.

**

The biggest disadvantage of a beginner in the stock market is putting all their money into stocks. Regardless of whether the market is good or bad, they believe the stocks they choose will definitely rise and invest all their money.

They never keep cash. Logically, stocks go up half the time and down the other half, but they always believe their stocks will rise. When they sell stocks and get cash, they immediately buy more stocks, fearing they might miss out on a surge.

Holding stocks 365 days a year, their overall return rate is similar to the stock market index. Due to their poor trading skills, they end up with small gains and large losses. This is the chronic problem of beginners.

Yuseojun was no different. When he had money, he was eager to jump into the market. The recent stock market news showed a continuous rise, making him feel like his money was being taken away by others. He felt rushed. After all, he needed to open an account at a securities firm to buy or sell stocks.

The next day, during a break, Yuseojun visited a securities firm to deposit the prepaid tutoring fees into a stock trading account.

He chose D Securities, which he liked, among several securities firms. After all, the choice of securities firm wasn't that important.

Inside, a wall was adorned with a large screen displaying the prices, sell and buy offers, and trading volumes of all listed stocks, with red and green numbers flashing.

The screen, which never stopped blinking, vividly showed the busy flow of capital. At that moment, stock trades were ongoing, and the offers and volumes were constantly changing. It felt like entering a new world.

Due to the nearly year-long bull market, the securities firm was packed. Many people were sitting or standing in front of the screen, watching the stock movements. Their faces showed a mix of joy and sorrow, with red indicating a rise and green a fall in stock prices.

The stock market might be the place where human nature is most clearly revealed. A crowd of people distorted by greed. The moment you enter, you realize that modern society is dominated by money and that South Korea is a capitalist society.

"Look! It's surging, surging!"

A man in his 30s pointed at the screen and shouted. A few people around him let out exclamations of amazement.

"Ah, I should have raised my offer. I lost."

"I bought it! Yay!"

One person expressed regret, while another cheered.

People's emotions always fluctuated, but on days when the screen turned red due to rising stocks, their voices became more lively and louder.

Yuseojun glanced at them and went to the counter.

There were three female employees at the counter handling account openings. They wore neat uniforms, similar to bank employees, but the securities firm employees were definitely more attractive, at least to Yuseojun.

He sat at an empty counter.

"Can I open an account?"

A recent joke was that even farmers in rural areas were selling their cows to invest in stocks, but it was rare for college students to trade stocks.

The female employee, looking at the young Yuseojun, asked curiously:

"If it's your first time, please fill out this form."

Yuseojun wrote his personal information on the form given by the employee.

The employee's smile widened as she glanced at the form, probably because of his young age.

At the time, the real-name financial system wasn't in place, so it wasn't difficult for minors to open accounts.

"You can place buy or sell orders by phone. If you have a dedicated manager, you can call them; otherwise, you can call the main number."

She continued with the basic instructions.

At that time, stock trades were consolidated and executed at the stock exchange in Yeouido. When someone wanted to buy or sell stocks, they would call their securities firm's manager, who would then relay the offer to the exchange. The exchange would aggregate all the offers from the securities firms and execute the trades. During this process, buy and sell order forms were passed around, and sometimes, at the end of the year, these forms were thrown into the air to celebrate, a scene often shown on TV.

After a simple procedure, the account was created, and the employee asked:

"How much would you like to deposit?"

Yuseojun took out an envelope from his bag. It contained 250,000 won, the prepaid tutoring fees.

The employee's face showed a slight disappointment as she counted the money.

While 250,000 won might not be a small amount at a bank, at a securities firm, larger amounts were more common. Of course, the employee probably didn't expect a college student like Yuseojun to have a large sum of money.

To Yuseojun, it was a significant amount, and it would be the foundation for his future earnings. He faced the employee without hesitation.

After completing the deposit, the employee asked:

"Would you like to designate a dedicated manager? All our clients are assigned a dedicated manager who handles everything from simple transfers to trading consultations."

In most cases, this dedicated manager system was more about the manager's performance than the client's convenience. The manager wanted more trades to increase their commission income, which often made it difficult to achieve good results by following the manager's advice.

Before he could answer, the employee said:

"If you don't have anyone in mind, we can assign one for you. You can leave now, but since it's your first account, I recommend meeting your dedicated manager. Your manager is Seo Hana."

The employee pointed to a corner with several booths, a few of which were in use.

Yuseojun took the documents.

"Thank you."

The employee bowed. The service training was definitely better than at banks.

Yuseojun glanced at the consultation area. Since he had nothing else to do, meeting the manager might not be a bad idea. Curious, he approached the booth.

In a corner with four booths, a nameplate read "Seo Hana."

He entered the booth and sat down, greeting her.

"I opened an account today."

The woman standing opposite him bowed.

"Welcome. I'm Investment Consultant Seo Hana."

Yuseojun looked at her, his eyes widening.

Seo Hana was unexpectedly beautiful. While it was natural for someone in a customer-facing role to be attractive, her appearance was surprising. She wasn't the kind of beauty you'd see anywhere. She looked like someone you'd only see in a TV drama.

Her long, flowing hair reached below her shoulders, and her flawless, egg-shaped face and clear features were accentuated by her black eyes, which sparkled in the light.

She wore a typical office uniform of a white blouse and navy skirt, but it looked different on her. A nameplate on her chest read "Seo Hana."

'Goddess!'

Yuseojun was amazed and kept exclaiming in his mind. She looked young and innocent, like a college student. Judging by her position as a staff member, she had probably graduated not long ago. He estimated her to be in her mid-20s, but her light makeup made her look younger, almost like a college student.

He felt he would visit often just to see her, regardless of the stocks.

Seo Hana smiled and asked, noticing his stunned expression:

"Today is your first time opening an account. Have you ever traded stocks before?"

Her bright smile was like a blooming flower.

Yuseojun shook his head, flustered.

"No, it's my first time."

He answered honestly, feeling a bit embarrassed.

Seo Hana nodded, looking at his information on the form.

"You're a college student, right?"

Yuseojun nodded, and she smiled back.

"College students trading stocks are still rare, but the number has been increasing rapidly since last year. While society doesn't view students handling money positively, getting familiar with stocks early in a capitalist society can be beneficial in the long run."

"Only if you don't lose money."

Seo Hana continued with a bright expression in response to Yuseojun's light-hearted comment.

"Beginners often think they will always make money in the stock market, but that's not the case. More people lose than gain. Even during last year's bull market, many people lost money. That's why I always recommend trading with spare funds."

Yuseojun took her advice to heart. She continued:

"Since you're a college student, joining a school investment club could be helpful. Many universities are experiencing a boom in investment club formations. Have you joined one?"