Yonghyun Lee, the chairman of Cheongpunghoe, held the phone respectfully and was talking to someone.
A moment later, after hanging up, he fell into deep thought with a serious expression.
"Chairman, Candidate Joochanggeun has arrived."
"Is that so? Let him in."
The door opened, and Joochanggeun, one of the presidential candidates, entered.
Approaching Yonghyun Lee, he bowed deeply.
"Chairman. I hope you are well."
"It's been a while. How is your presidential campaign preparation going?"
"Thanks to you, Chairman, I have been given a good opportunity. Thank you once again."
After Joochanggeun was pushed out in the ruling party's primary, it was Yonghyun Lee who brought him in to form a new party and made him a presidential candidate.
"Chairman, Candidate Seongdaegyu has arrived."
Joochanggeun, who had been bowing his head, looked up at Yonghyun Lee's face.
Yonghyun Lee ignored Joochanggeun's gaze.
"Let him in."
"Yes."
The door opened, and Seongdaegyu, the presidential candidate of the ruling conservative party, entered.
Unlike Joochanggeun, Seongdaegyu did not bow deeply but bowed his head in respect.
"Sir, it's been a while."
"Hehehe. I never thought you would become a presidential candidate. Come, sit over here. Joochanggeun, you also stand up and come over here."
Yonghyun Lee sat at the head of the table, with Joochanggeun on his left and Seongdaegyu on his right.
Joochanggeun and Seongdaegyu glared at each other with hostile eyes.
"Listen up, both of you. Stop glaring and listen to this old man."
"Yes, Chairman."
"Yes, Sir."
Both of them focused on Yonghyun Lee's words as if they had never glared at each other.
"Seongdaegyu, you're the presidential candidate of the ruling party, but you're saying you're getting no support from the president?"
"..."
Seongdaegyu did not answer but looked displeased. Yonghyun Lee chuckled.
"Haha, my friend. Do you think I called you here to just talk nonsense? Joochanggeun, your approval ratings aren't rising easily, right?"
"Yes... ..."
Yonghyun Lee, who had been observing both of them alternately, clicked his tongue.
"If you two keep fighting, the probability is high that the progressive party's guy will benefit. You know that, right?"
Seongdaegyu and Joochanggeun did not answer.
"What's important is not my thoughts but yours. If you're not getting support from the president, you should at least get support from me. Isn't that right?"
"..."
"What do you want from me?"
"Support the next one. And just do a few things I ask. It will bring you one step closer to the presidency. Doesn't that sound good?"
Seongdaegyu, after glancing at Joochanggeun, bowed his head.
"I understand. I will follow your instructions, Sir."
"Hehehe. Thank you."
As Seongdaegyu spoke respectfully, Yonghyun Lee burst into laughter.
"Hahaha. What do you have to thank me for? You should thank Japan. Don't be too harsh on Japan. Just pretend to be tough to a degree that the people can understand."
"Yes, Sir. I will keep that in mind."
"Good. Don't spread this around yet. When the election atmosphere heats up, we'll play the unification card."
"I understand."
"Go ahead. I need to talk more with Joochanggeun."
"Yes, Sir. I'll see you again."
Seongdaegyu stood up, bowed his head once more, and left.
As the door closed, Yonghyun Lee looked at Joochanggeun, who was bowing his head deeply.
"Swallow your dissatisfaction. I have no choice since that's what Japan wants. Do you think I wanted to give up on you?"
"But... ..."
"I know, I know. I understand your feelings. I've already secured the next one for you. After the unification, return to the conservative party and take control of it. I'll back you up."
"I understand."
"You can become the next one. Trust me. When have I ever talked nonsense?"
"Yes, I will trust you, Chairman."
The future that Kim Muhyeok knew was changing. The small changes he had made were turning into an unpredictable storm approaching him.
* * *
Indonesia, the Philippines, and Malaysia all lost to the hedge fund coalition.
Malaysia's Prime Minister Mahathir accused George Soros of being behind the speculative attacks and strongly criticized him.
Thailand ultimately had to apply for emergency financial assistance from the IMF, and the economic crisis in East Asia became a nuclear bomb that fell on South Korea, Taiwan, and Hong Kong.
β Hey, the U.S. stock market is also plummeting.
"I know. Leave it alone. It will go back up."
β The decline is bigger than expected.
"Why are you suddenly so worried?"
β The employees are getting anxious.
"Don't be consumed by fear. Investors must overcome fear. Have the employees prepare to be deployed to Hong Kong. Don't worry about the stocks."
β Okay.
In August 1997, the hedge fund coalition was preparing to attack Hong Kong.
β Are we participating this time?
"Of course, we must participate."
β How much?
"1 billion."
β Just 1 billion?
He was momentarily speechless, taken aback.
Just 1 billion dollars... ...
"Bro... 1 billion dollars. It's not just 1 billion."
β Sorry. These days, 1 billion dollars is easily thrown around, so I've lost my sense of money.
"Bro, be careful. You might end up a penniless beggar on the Han River if you're not careful."
β Got it. I'll say we're putting in 1 billion dollars.
"Sure, let's move based on the progress."
History was ironic.
Though there was no connection, the collapse of the Thai baht, which marked the beginning of the Asian financial crisis, happened exactly 24 hours after Hong Kong's return to China.
Hong Kong's inflation rate was significantly higher than that of the United States, always under pressure from speculative capital.
Hong Kong's fixed exchange rate was a double-edged sword.
β Ready. We start the attack tomorrow.
"Tell the employees to move in sync with the hedge funds, and let's bet on the stock market crash together."
β Got it. Hold on.
Through the phone, Han Kyungyeong's voice giving instructions in English could be heard.
β Everyone, forget about going home for a few days. Stay at the company and be on standby. After this, a sweet vacation and money will be waiting for you. Just bear with it for a little while.
Indistinct sounds, whether screams or responses, could be heard from the background. A small smile appeared as Han Kyungyeong skillfully managed the employees.
"It's starting now. Even if we incur losses, keep betting on the decline. Don't be afraid even if we lose all the money in the company."
β Your words are scarier. You're saying to be prepared for losses.
"Exactly. But ultimately, it will bring us great profit."
If history unfolds as it did, Hong Kong will abandon the stock market and focus all its efforts on defending the currency.
But since I've intervened, I don't know how history will change.
So I planned to not touch the capital in the U.S. company and to invest all the money in the phantom company.
Soon, the hedge fund coalition and global speculative capital began their attack on the Hong Kong dollar.
The Hong Kong government, trusting China, was using all its resources to defend the currency.
β Phew... I'm going crazy.
"Don't worry. It's still early."
From August to October, we had already bet over 3 billion dollars on the decline of the Hong Kong stock market.
The decline was gradual, but it wasn't to the extent we had bet on.
We were reducing our losses by borrowing stocks from global securities firms and gradually driving down the stock prices.
According to history, the Hong Kong Monetary Authority should have started to act by now.
I didn't say anything to Han Kyungyeong to avoid making him anxious, but I was also burning with worry.
'Has history been twisted because of me?'
But I couldn't give up now.
β What should we do? Keep going?
"Hold on. I need to think."
Thanks to the substantial foreign exchange reserves, they were still holding on, but it was clear that this would soon reach its limit.
The goal of the hedge funds and global speculators was simple.
Invest in the future decline of the Hong Kong dollar in the futures market, and flood the market with a large amount of Hong Kong dollars to force the Hong Kong Monetary Authority to abandon the fixed exchange rate and devalue the Hong Kong dollar.
Hong Kong has a slightly different monetary system from other countries.
In other words, when U.S. dollars flow in, they adjust interest rates to maintain the value of the Hong Kong dollar.
And when interest rates rise, stock prices and bond prices fall, which is a basic financial principle.
"Bro, bet all the funds in the U.S. company on the crash of the U.S., Japanese, and European stock markets."
β What?
"Don't make me repeat myself. Bet on the decline of all countries' stock markets."
β ...Are you crazy?
"It's an order. I decided to make all the choices. Don't forget our agreement."
Han Kyungyeong did not respond.
"Bro?"
β Yeah, I don't know what to do either.
If this gamble fails? No problem, I'll just start over. I still have 1 billion dollars in slush funds and 3 billion dollars bet on South Korea's collapse.
Han Kyungyeong faithfully carried out my instructions.
Despite the employees' objections, he took full responsibility.
October 23. According to the original history, it was today.