An Investor Who Sees The Future

After the crisis began with the US benchmark interest rate hike, everyone's attention was on China.

The media poured out articles related to the Chinese economy.

[The Chinese Economy, Facing Structural Problems. The Possibility of a China-Originated Global Financial Crisis?]

[The Chinese Economy, Must Prepare for an L-Shaped Recession and a Japanese-Style Long-Term Stagnation in the Future]

[Huge Debt Weighs Down the Chinese Economy]

[China's Debt Scale, 270 Percent of GDP!]

[China's Bank Insolvency is Serious, Bank Failures are Only a Matter of Time]

[If China Collapses, Concerns of a Chain of Bankruptcies Among Global Companies]

[Bank Insolvency is Also Serious...]

Currently, China's total debt is 180 trillion yuan, nearly double that of 10 years ago. The bigger problem is that due to shadow banking, it is impossible to even guess how much debt is not captured in the statistics.

The reason why this debt has increased astronomically is that they have been easing regulations and continuously supplying liquidity to boost the economic growth rate. Thanks to this, the stock market rose, various unnecessary development projects were carried out, and real estate skyrocketed.

No country with such a rapid increase in debt has avoided a financial crisis. China now looked very similar to the US just before the subprime crisis or Japan just before the real estate bubble burst.

Abnormal signs were already appearing everywhere.

The yuan continued to face devaluation pressure, the decline in stock prices and real estate continued, and bank insolvency also came to the surface. John Lanchester, CEO of DH Management, said, "It's only a matter of time before some banks collapse."

In this situation, last month's exports decreased by 17 percent compared to the same period last year, shocking the market.

***

Amid growing concerns, an emergency press conference was held in Beijing.

The conference hall, set up in a hotel, was crowded with media from all over the world. Numerous cameras and microphones were pointed at one person.

There stood the most famous investor in the world.

Many people had been curious about his thoughts, but he had not said a word. But he had suddenly held a press conference in China.

Kang Jin-hoo said in a calm voice.

"Recently, the world has been facing a huge difficulty. But the current crisis is exaggerated, and there is an aspect of excessively creating fear. The shock will continue for the time being, but the world economy will regain its stability."

As soon as he finished speaking, reporters all threw questions at once.

"What is the basis for your thinking?"

"Are there any specific countermeasures?"

"What will OTK Company's countermeasures be in the future?"

"What do you think about the theory of a China crisis?"

Kang Jin-hoo said with a confident expression.

"Governments around the world, including China, have sufficient countermeasures. If necessary, OTK Company will also step in. The speculative forces trying to make money by using the crisis and fear will never succeed."

[Kang Jin-hoo, Confident in Global Economic Recovery]

[Kang Jin-hoo Steps Up as a Relief Pitcher for the Financial Crisis]

[Global Stock Market Decline Slows]

[Dollar Falls Slightly!]

[Philippine Foreign Exchange Market Temporarily Stabilizes]

[Premier Bo Xiaoyu, a Strong Warning to Yuan Speculators]

Kang Jin-hoo's remarks were immediately transmitted all over the world.

As the market took this as a strong positive factor, the declining stock market rebounded, and the exchange rate temporarily stabilized.

- Wow! Is it real that the stock market is rebounding with just one word from Kang Jin-hoo?

- So damn amazing. As expected of Kang Jin-hoo!

- Kang Jin-hoo has done what presidents, prime ministers, and central bank governors couldn't do with all their comments.

- The Lord Kang Jin-hoo said, 'Let the world economy recover,' and the world economy recovered~

- Isn't it just lip service? It's a bit too early to be relieved by this...

- Right, if you call a crisis a crisis, a crisis really comes~

- Is now the time to buy stocks and real estate?

- Don't believe the speculator. After saying that, he might be buying put options and short-selling himself. Then he'll crash the market and make a fortune.

***

A grand mansion in Buckinghamshire.

The old man in the wheelchair had his gaze fixed on the TV hanging on the wall. Next to him stood a young woman with doll-like features.

The news had been showing the image of an Asian young man for a while now.

There was probably no one in the world who didn't know his name.

If you were to pick the biggest change that has occurred in the global economy in the last five years, it would be the emergence of Kang Jin-hoo.

It was no exaggeration to say that the flow of the world had changed because of his existence. He had saved the US from the Big One and ended the US-China trade dispute. He is leading innovation across all industries, including autonomous driving, batteries, electric cars, TWR, pornography, and games.

His own ability is one thing, but it was also possible because of the development of finance and the changes in industry.

In the past, lords and kings with vast lands created wealth, and wealth came from factories and mines, but now, wealth is created in the internet and financial markets.

Now, that trend has accelerated even more. There were countless companies that grew into unicorns in less than a year of being founded, and new rich people were born every year.

Financial techniques have developed further, creating numerous derivatives, and you can trade all the products that exist in the world anytime, anywhere, as long as you have an internet connection.

If someone could know the future, it would be possible to multiply their money a hundred or a thousand times in a short period.

The young man who started investing with nothing has now risen to the top of global finance. His wealth has already surpassed that of Rockefeller and Carnegie in their heyday, and Howard Hughes and Bill Gates.

Considering his age and the rate of his wealth growth, it was impossible to even imagine how much his wealth would increase in the future.

When the crisis began, everyone paid close attention to his actions and words. Rothschild also checked his every move, where he went, and who he met.

'It would have been better if he had joined hands with us.'

Grace gave a wry smile.

"He ultimately chose a different path."

It was a pity, but not unexpected.

The booming US economy, Brexit, the increase in refugees, the fiscal deficits and foreign exchange reserves of various countries, corporate and household debt, and so on.

They had considered all the variables and coordinated the timing. And they had set things off at the perfect moment. The beginning is difficult, but once a crisis occurs, no one can stop it.

What will happen is bound to happen. You can delay the flow for a while, but you can't reverse it. Even if you are Kang Jin-hoo. The result was the same no matter how many times they ran the simulation.

The news was still analyzing the background of Kang Jin-hoo's press conference and whether his remarks were right or wrong.

Grace looked at Kang Jin-hoo's face on the TV and muttered, as if talking to him.

"What on earth are you trying to do?"

***

Before leaving for South Korea, I contacted the Blue House.

Even though they must have been swamped, I was able to schedule a meeting without much difficulty. As soon as I arrived at the airport, I took a car to the Blue House.

President Heo Chang-min, who was already waiting in the reception room, greeted me.

"Welcome, CEO Kang Jin-hoo."

"It's a pleasure, Mr. President."

A hint of exhaustion was evident in his expression and tone.

He was probably curious about what I had discussed in China. In a situation like this, information from a high-ranking Chinese official would be like a welcome rain in a drought.

The shock of the faltering global economy had also reached South Korea.

Since its foreign exchange reserves were sufficient and it was still maintaining a current account surplus, the possibility of South Korea experiencing a foreign exchange crisis was low. But all economic indicators were worsening, including a rising exchange rate, a falling stock market and real estate market, a decrease in consumption and exports, and the bankruptcy of small and medium-sized enterprises.

In addition to this, there was a negative factor that only South Korea had, unlike other countries. That was North Korea.

North Korea had resumed missile launches last week. This kind of provocation had happened a day or two before, but the timing was very bad now.

As the ongoing inter-Korean economic cooperation and North Korea projects were expected to fall through, the already weak stock market collapsed again.

"I saw your press conference in China. Thanks to that, the financial markets have stabilized a bit."

Come to think of it, it's a strange thing. The global financial market reacted immediately to just one word from me.

"It's only a temporary phenomenon. A much bigger crisis could happen at any time."

President Heo Chang-min's expression darkened.

"How big of a crisis do you expect to occur?"

"Do you remember the global financial crisis?"

"Of course."

He couldn't possibly not know. At the time, he was a member of the National Assembly and had poured out sharp criticism against the government as a member of the Strategy and Finance Committee.

"The situation is worse now than it was then. This is just the beginning. If it leads to a full-blown crisis, South Korea will face the worst-case scenario."

If China were to collapse following the emerging countries, it was as clear as day what would happen to the Korean economy.

"Then what would be the best thing to do?"

"We must take preemptive measures to prevent a crisis. But to do so, one thing is needed."

At my words, President Heo Chang-min's eyes flashed, and he asked urgently.

"What is it?"

"Chairman Im Jin-yong."

He looked flustered.

"Isn't Chairman Im Jin-yong in prison right now?"

"Exactly."

Who doesn't know that?

President Heo Chang-min looked at me with a firm expression.

"Are you asking me to release Chairman Im Jin-yong?"

I nodded.

"I'm not asking you to reduce his sentence or pardon him. I'm just asking you to grant him bail."

I had thought about a pardon after the sentence was confirmed, but there was no time for that now.

President Heo Chang-min said, displeased.

"Granting bail or not is the authority of the judiciary, not the president."

"I know. What I want is for the bail to be granted according to the established legal procedures."

"There are many people who are tried while in custody. So why should only Chairman Im Jin-yong be granted bail? Isn't it ultimately because he is the chairman of a chaebol?"

I did not deny his words. What I need is not the individual Im Jin-yong, but the chairman of the Seosung Group.

"Until now, the chaebols have been released no matter what crimes they committed, for the reason that it helps the national economy. And what was the result? The rich think they can commit crimes if they have money, and the people do not trust the law. 'No money, guilty; money, not guilty,' 'preferential treatment for former officials,' 'judicial murder,' and so on. Now, even young children do not believe the words that everyone is equal before the law. How long must this be repeated in the Republic of Korea?"

Since his days as a human rights lawyer, and even after becoming a member of the National Assembly, he had criticized the privileges of the chaebols. He had even made a campaign promise not to exercise his right to pardon if he became president.

This is not just a matter of granting bail or not. For him, it might be a matter of having to bend his lifelong conviction.

"I don't care what crime Chairman Im Jin-yong committed or how many years he is sentenced to. He is just needed to prevent the current crisis."

President Heo Chang-min said nothing.

I stood up and said.

"The choice is yours, Mr. President."

***

The first trial verdict for Chairman Im Jin-yong was held.

Supporters and opponents flocked, and the audience was selected through a lottery.

The Seosung Group is a huge corporation that is counted among the best not only in South Korea but also in the world, and it has a huge influence on the global electronics and automobile industries.

Media from all over the world paid attention to the trial verdict, and numerous domestic and foreign reporters were gathered in front of the Seoul Central District Court where the trial was held.

The charges were numerous, including bribery, illegal solicitation, breach of trust, embezzlement, tax evasion, and accounting fraud. The general consensus was that it would be difficult for him to avoid a prison sentence, even in South Korea, which is lenient on chaebols.

After the final arguments of the prosecutor and the defense attorney, the judge delivered the verdict. Although he had done his best to avoid responsibility, the evidence for the important charges was so solid that he could not avoid a guilty verdict.

"The defendant is sentenced to 5 years in prison."

The glimmer of hope for a suspended sentence disappeared, and a prison sentence was handed down. Small cheers and sighs were heard from the audience.

The defense team all bowed their heads, but Chairman Im Jin-yong himself had a calm expression, as if he had expected it.

But at the end of the sentencing, the court added one more thing.

"However, considering the guarantee of the defendant's right to defense, the lack of risk of destroying evidence or fleeing, and the impact on the national economy, bail is granted until the final trial verdict."

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