Money Keeps Piling Up No Matter How Much I Spend

Chapter 111

Translator: Dreamscribe“This is the first time we’re seeing each other face to face like this.”

Due to the impact of the coronavirus, many countries were currently banning gatherings of more than four people.

In addition, most companies had switched to working from home, and even institutions that had to make critical decisions had no choice but to hold video conferences like this.

Having to see familiar faces through a video screen instead of in person felt somewhat absurd and bitter.

However, as the President of the EU Council, she had to gather the heads of each country and come up with a swift solution to overcome this crisis in Europe.

While the President of the Council did not hold decision-making power, it was her role to gather the leaders of each country and key EU personnel to lead these meetings.

“I’ve received the reports sent from each country. The infection rate from the Wuhan Pneumonia... that is, the coronavirus, is absurdly high. The number of deaths is also steadily increasing. It seems additional countermeasures are necessary.”

[What more are we supposed to do at this point? We’ve already closed our borders and blocked all travelers. Do you know how much economic damage we’ve taken just from that alone?]

What comes to mind when one thinks of Europe?

Tourism.

Tourism revenue makes up a very large portion of national economic income in Europe.

The problem was that, as foreign entry began to be blocked due to the coronavirus, significant economic damage naturally followed.

“I understand. It’s a very serious issue. But the even bigger problem is that if we don’t stop the virus from spreading further, this level of loss is just the beginning.”

President Charol brought up a screen for everyone to see.

It displayed an index showing the tourism revenue that would be lost if the virus continued to spread and border closures remained in place throughout the year.

[...]

The heads of each country and EU executives attending the meeting were momentarily at a loss for words after seeing the data.

“1.5 trillion dollars. That’s the estimated figure calculated by our EU team. In other words, the actual amount could exceed 1.5 trillion dollars.”

It had been expected, but the blow was still painfully severe.

The problem was that this figure only accounted for tourism revenue.

“If we add the overall industrial costs beyond just tourism... the scale becomes truly horrific.”

They had anticipated damage to some extent.

But not to this degree.

[So, what do you propose we do?]

“There’s only one way. Vaccines. We need to produce vaccines as quickly as possible.”

[With the virus having spread this much already, what about just aiming for herd immunity instead?]

“That’s a completely unrealistic idea. For that, over 70% of each country’s population would need to be infected, which would result in a huge number of deaths. More importantly, this virus has the ability to evolve.”

[Evolve? What do you mean by that?]

“It means it mutates. That’s why vaccines are even more necessary. With them, we can respond appropriately, and booster shots can block mutated variants as well. Without vaccines, the coronavirus will never end.”

The problem with this virus was not only its terrifying infectivity but, more importantly, its ability to mutate.

Even if someone developed immunity after catching the coronavirus, the risk of being infected again with a mutated strain was extremely high.

So, unless the spread was preemptively blocked through vaccination, the coronavirus pandemic would never cease.

[Where on earth did this virus come from, anyway? I heard it was leaked from a Wuhan laboratory.]

“That’s unknown. The WHO seems to be leaning more toward natural occurrence.”

[They’re saying this is a natural occurrence? That’s nonsense. If it really were naturally occurring, it would’ve spread long ago and caused an outbreak before.]

“Mr. President. Now is not the time to argue about that. Let’s settle who’s at fault later. For now, we need to focus on solving this problem first.”

Just as the President had said, this was not the time to point fingers.

First, shouldn't we put out the most urgent fire?

[Where can the vaccine be produced?]

“There is only one place on this planet that can produce it most quickly and accurately. AstraZenon. With mRNA technology, they can produce vaccines rapidly, and right now, their technological capability is the best in the world.”

[Wait a second. AstraZenon... isn't that a British company? As it is, the EU is in a very awkward situation with the UK right now. Isn't there any other company?]

“There are other pharmaceutical companies. The problem is that those companies would take more than twice the time compared to AstraZenon to develop a vaccine. Are you confident you can wait that long? I just showed you earlier. 1.5 trillion dollars will vanish this year alone.”

[...]

“On top of that, AstraZenon began development as soon as the WHO released the genome sequence, and they’ve already reached the final stage.”

[So when exactly can they start distributing the drug?]

“As you all know, vaccines normally take over ten years to be released. And then you need an additional three years for clinical trials and approval from each country. If that period is reduced to the minimum, distribution is possible within six months.”

Six months.

Everyone thought that even at the earliest, it would take several years. Yet, not even one year, just six months?

[I-Is that speed even possible?]

“That’s why mRNA technology is called revolutionary. Of course, we’ll have to see the results of the clinical trials, but from what I hear, they’re confident it will succeed. So if each country provides a set amount of investment, they’re willing to manufacture as much as needed. Most importantly, AstraZenon is no longer a British company.”

[Then what is it?]

“It’s a Korean company. Kwangwoon absorbed all of their controlling shares and has been the new owner for some time now.”

[K-Kwangwoon?]

Another wave of murmuring erupted.

Wasn’t Kwangwoon the very company that the EU had forced to dismantle its shipping business?

It would be better to negotiate with the UK instead of Kwangwoon?!

And not only that, but Kwangwoon was operating the company from within the UK!

Did this mean they would have to deal with both the UK and Kwangwoon?

“I’m well aware that Kwangwoon and the EU don’t have a great relationship. But Kwangwoon is still a business, isn’t it? If they can receive funding and sell vaccines, those people will forget all about the past.”

That’s how businesspeople are.

They hold grudges viciously, but if they’re compensated, they forget quickly.

After all, their only means of communication is money.

When money’s involved, they’re capable of shaking hands and smiling even with their worst enemies.

“Still, if anyone insists that Kwangwoon is absolutely unacceptable, I won’t stop you. But there’s one thing you must keep in mind. Other countries are already moving swiftly, coordinating with AstraZenon and sending investment funds. While they escape the nightmare of the coronavirus, our citizens will continue to suffer for an even longer time.”

If vaccine regulations were lifted, Kwangwoon could begin production in the shortest time. But with other companies, the wait would be at least twice as long.

And the economic losses and death toll during that period would be at a level these countries could not afford to bear.

[Is it just me, though?]

“Sorry?”

At that moment, President Perron, who had remained silent until now, wore a bitter smile.

[Isn’t this whole situation kind of ridiculous? We’re now begging for vaccines from the very company we forced to dismantle. And what happened to all the shipping companies that Kwangwoon sold off at high prices?]

“Well, that’s...”

[They’re all on the verge of bankruptcy. Believing the prediction that the shipping industry would explode in growth, they overextended to acquire those companies and now they’re drowning in debt.]

The sector hit hardest by this coronavirus crisis was shipping.

Due to coronavirus restrictions tightening movement, and especially because all factories and companies temporarily halted operations, shipping had nothing to do.

“Wouldn’t things improve if we just held on a bit longer?”

[Like you said, once the vaccines are distributed, things might normalize to a degree. The problem is that they can’t hold on until then. When they bought up those shipping companies from Kwangwoon, they rushed in by taking on massive debts, and now they’re paying the price.]

The problem was that among the current shipping companies, there were almost none that could hold out until the shipping industry stabilized.

[Kwangwoon sold off all its shipping companies at the peak, used that money to buy AstraZenon, and now they’re selling vaccines back to us… No matter how you look at it, doesn’t it feel like we’re dancing in the palm of Kwangwoon’s hand?]

It would be a lie to say otherwise.

[There are even rumors that Kwangwoon manipulated the National Pension Service to launch short selling across the globe on the scale of hundreds of billions of euros. At this point, it’s almost believable that Kwangwoon is behind all of this.]

“Then is France saying it won’t cooperate with Kwangwoon?”

[That’s not possible. Didn’t you say the US and various Asian countries are already working with AstraZenon? If we don’t do the same and only Europe continues to suffer from COVID, then what?]

He could already hear the sound of votes dropping.

That was something they absolutely couldn’t afford to let happen.

[We’re already in checkmate. Kwangwoon is holding cards we simply cannot refuse, and we have no choice but to follow. What else can we do?]

It was humiliating, but just as President Perron said, there was no other option.

Right now, the one holding the knife was Kwangwoon.

But once this is all over, and some degree of stability returns...

No one knows what might happen then.

***

“After calculating the total results of this investment...”

Everyone swallowed dryly, waiting for the department head’s next words.

“If we were to liquidate all of our investment funds right now, the total would come to 1,000 trillion won.”

“O-One thousand trillion!?”

“Are you serious!?”

The conference room quickly erupted into thunderous cheers.

It wasn’t just the chairman who had spent sleepless nights, trembling with anxiety every day.

“And in fact, the actual investment was only 500 trillion. The other 200 trillion was used solely for margin requirements. Yet we’ve earned over 300 trillion in profit.”

They had wanted to put all 700 trillion into short selling, but because they couldn’t bypass the margin system, they had to set aside 200 trillion as collateral.

“So what does that mean? We made over 50% in profits? Didn’t the market drop less than 30% overall?”

“Yes. On average, that’s true. But some of our positions were leveraged, and we had various derivatives, plus there were stocks that really did fall by 50%.”

“So that means everything was based on the stocks Kwangwoon told us to buy, right?”

“That’s correct.”

One thousand trillion won.

The National Pension Fund, which had been at 700 trillion, had finally surpassed the 1,000 trillion mark.

And to earn 300 trillion in such a short time, this would be the first time in financial history.

“But Chairman... while this is certainly good news, is this really okay?”

“We didn’t manipulate the market, did we? We tried to avoid causing any shocks.”

“Yes, but once we liquidate the funds, word will spread fast. Then many countries will start sharpening their knives.”

But those knives wouldn’t be pointed at the National Pension Fund.

Because unless they were complete fools, they would know that Kwangwoon was behind the pension fund now.

“We’ll have to deny everything. That we have no connection to Kwangwoon. That it was all started solely on my own decision.”

“Even so, people will suspect. Especially Kwangwoon, they’ll face all sorts of sanctions. Maybe even this Wuhan Pneumonia... might’ve originated from Kwangwoon...”

“Tsk. I told you not to say that.”

“Ah. Yes. I’m sorry.”

He hadn’t said it aloud, but...

Watching the way things were unfolding, even the chairman had all sorts of thoughts.

Could this Wuhan Pneumonia really be Kwangwoon’s doing?

But this virus was said to have leaked from a lab in Wuhan, wasn’t it?

And didn’t Kwangwoon have deep ties with China?

And in the end, the same thought always came to mind.

Just what kind of terrifying person have I gotten involved with?

‘What am I even thinking right now?’

Yeah. he shouldn’t even be thinking about things like that.

With this profit, he had pushed back the depletion of the National Pension Fund by a long stretch, wasn’t he a hero?

Future generations would have to sing praises of the name Jung Jin-ho.

He had prevented Korea from falling into chaos today.

Of course, it couldn’t be said that he had completely stopped it-

“This isn’t the time for that.”

After the meeting ended, the Chairman immediately called Jung Jin-ho.

[Yes, Chairman.]

As always, his voice sounded as gentle as his appearance.

In reality, he was an utterly ruthless and terrifying man.

That’s why it made one nervous for no reason.

“Yes, CEO-nim. I just called to express my thanks. You received the report we sent over today, right?”

[Ah, yes. I received it. Seems you made a decent profit.]

Decent?

Did that mean it wasn’t even good?

“We’re thinking of starting to close out our positions now. We plan to move the funds back into safe assets, as before.”

[...]

“CEO-nim?”

[Ah, yes. I suppose it’s about time to start wrapping things up.]

So it was time to close out.

Thinking that he could finally escape from these tense and nerve-wracking days, the Chairman let out a sigh of relief.

[But……]

That was the problem.

But.

[Wouldn’t it be a shame to stop here?]

“Yes? Y-You mean……”

[If the market has hit bottom, shouldn’t we expect a rebound now?]

“You mean we should go long now?”

[Yes.]

The Chairman blinked several times and, just in case, asked carefully,

“Are you suggesting we… move into safe assets?”

[No.]

“.......”

[.......]

The Chairman struggled to steady his spinning mind.

“Then… are you saying we should pour the entire 1,000 trillion into long positions? Not into safe assets, but into regular stocks?”

Then, from the receiver, came a voice that seemed to be smiling.

[Exactly.]

*****

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