Chapter 71
Chapter 71:
Investing in the exchange rate market was a stressful period for Woosung. Naturally, he wasn’t able to focus on his company work during this time.
After everything was settled, Woosung could finally get back to his company.
When he arrived at work, he sat down and studied various things including the exchange rate trends and the world financial news.
Woosung’s room was filled with books on daytime trading and forex trading. One day, Woosung was reading late into the night in his office when Jang Gwanchul walked into his room.
Forex trading strategy was the book Woosung was holding.
“Boss, are you planning to upgrade the algorithm trading system?”
Woosung thought of hiding the book, but instead, he answered him. “As I said earlier, I am trying to think globally.”
“Don’t overwork yourself. If you lose your health, you’ll lose everything.”
Woosung laughed awkwardly. “Haha, okay.”
“Then I’ll see you later.”
“Phew…”
Woosung sighed with relief.
Jang Gwangchul must have spread the news. Yoon Gihwan, Park Junwoo, and Kim Yonggun came to Woosung and asked about how they would upgrade their algorithm trading system.
“I was thinking it’s about time we need to adjust the winning stock recommendation algorithm. Are you already on it, boss?”
When Woosung couldn’t answer, Yoon Gihwan murmured quietly. “Umm…What’s with your reaction? Do you not trust us? The vice president told us. He said you’re looking into forex trading.”
“Oh…”
Kim Yonggun pointed at the books in Woosung’s room. “And that’s why you are reading all these books, right?”
“Haha, I guess.”
“So how much work have you done on it so far? We can help you.”
Park Junwoo added. “We might not be much, but we can still help.”
Yoon Gihwan asked. “Are you getting involved in currency future? Or FX?”
“I am considering both,” Woosung answered cautiously.
“Alright. Then we will look into both as well.”
“O…okay.”
This was a week ago. As far as Woosung could remember, no more exchange rate turbulence would happen until the 2016 Brexit. This meant from now on, Woosung had to rely only on the algorithm function.
This was Woosung’s plan all along, but he felt tired of having to continue studying when he was so rich already.
Woosung shook his head. “I can’t think like this. I can’t become lazy.”
He continued to study. It was a good thing he was smarter now, or else, it would have taken him much longer to learn.
Foreign currency trading always occurred in pairs.
Korean Won/Dollar.
Dollar/Euro.
Yen/Dollar.
The currency on the left was called the base currency, while the one on the right was called the quote or counter currency. The exchange rate was affected by the interest rates of national banks in each country.
For example, if the interest rate in a Korean bank increased, foreign investors would flock to it. On the other hand, if the rate was low, fewer dollars would enter Korea. In turn, the exchange rate would rise.
This wasn’t always the case. The exchange rate was of national importance, so the government often involved themselves to maintain a certain level.
If it went up, it brought it down; when it went down, it brought it up.
In a democratic country, the government was allowed to have only a minimal influence. The best thing was for the market to correct itself.
When Shin Semi arrived at Nuri Enterprise’s CEO Shin Yongwon’s room, he asked her. “Advisor Shin, how many offshore funds do you have right now?”
“A little over a hundred million dollars.”
“How much of it can you cash in right away?”
“About 50 million dollars.”
“Before the exchange rate goes down, make sure to use all your available cash.”
“But…”
Before Shin Semi could reply, Shin Yongwon glared at her. “This is a chance you can’t miss. Anyway, the Blue House asked all the banks for help for this reason. They expect us to put our personal funds in.”
Shin Semi murmured. “The foundation of finances is trust. We can’t justify doing anything that will cause us to lose this trust.”
The current exchange rate was 17.00.
This was a great chance. “Have you still not realized why you haven’t received a promotion for a long time?” Shin Yongwon looked at his daughter with disappointment.
“If this is the way to get a promotion, then I don’t want it.”
Shin Yongwon turned away from her. “You have so much more to learn. Soon, the foreigners will get involved in the Korean market. If we do this, it will help stabilize the exchange rate without the Korean government having to get involved directly.”
“…”
“If the government gets involved, the other countries will not look kindly on it. This is why the government gives chances like this to corporations like ours.”
Shin Semi asked untrustingly. “But this is only your interpretation of the government’s request.”
“What was the point of going to Princeton and graduate from the economics department? You are still so naïve. I shouldn’t have let you go to that school.” Shin Yongwon criticized her crudely.
“Because of people like you, general population sees every businessman as a con man. The world sees Korea as a corrupt country. Why do you think the Nuri Bank fails to make it in other countries?”
“There is no guarantee your way will make us successful. Unless you have clear data to prove your theory, do as I say.”
Shin Semi knew her father wouldn’t change his mind. It was always this way. When she remained silent, Shin Yongwon gave her a final warning.
“Or else, you’ll lose everything you have.”
Shin Semi stared at him with a blank expression and left. Shin Yongwon looked at his daughter with a heightened sense of disappointment.
She needed a drink. Without thinking, Shin Semi arrived at the building where Woosung’s company KND was located. She took the elevator and went up to his office.
“I am here to see President Kang Woosung.”
At the unexpected appearance of a beauty, the developers murmured. Kim Yonggun especially got excited.
“Um… she…she…”
Yoon Gihwan turned around towards the door and saw her. “Hmm? Advisor Shin Semi?”
Kim Yonggun rose from his seat and knocked on Woosung’s door. Woosung was just about to walk out. He greeted her in surprise.
“I didn’t realize you were coming…”
“If you have time, would you like to have a drink?”
Woosung couldn’t say no.
They found a quiet place and here, they decided to sit down. Shin Semi drank in silence while Woosung would peek at her in secrecy.
After a few drinks, Shin Semi finally shared her thoughts. “While I studied at Princeton, I always swore I wouldn’t become one of those rich corrupt businessmen.”
Woosung nodded in agreement. “I see.”
“I studied my ass off, I graduated with good grades. I had many offers from Wallstreet, but I returned to Korea.”
“The Chairman’s orders, I presume?”
Shin Semi shook her head.
“No, it wasn’t like that. I wanted to. I planned to make Nuri Enterprise a bank known all over the globe.”
Woosung decided to compliment her. “Haha, your father must have been proud.”
Shin Semi laughed bitterly and answered. “No, it was the opposite.”
“Oh…”
“He wasn’t happy with me.”
Woosung stayed quiet. Shin Semi looked at him.
“You are the big brother who analyzes big data to find answers. Do you think you can figure out what I did wrong?”
Woosung did not have enough time to contemplate, but he understood the gist of what she’s saying. She must have had an argument with the chairman, but he couldn’t figure out what it was.
“Do you remember the first time we met?” Woosung asked as if it was a natural thing for him to say.
Shin Semi stayed still. Woosung continued slowly.
“When I predicted the financial crisis and the general election result, you doubted me. After you found out I got them right, you started trusting me.” Woosung laughed with a sarcastic undertone. “When I asked to join KYLO, I wasn’t sure if you would say yes.”
Shin Semi stammered. “W…well that’s…”
“I’m not blaming you. I am just telling you the facts of our relationship.” As Woosung continued, Shin Semi’s expression changed. “You want to know what you did wrong?”
Shin Semi nodded. “Yes.”
“I think what you did wrong is that you haven’t proven yourself yet.”
Shin Semi inhaled deeply.
“As I proved myself with real results, you need to do the same to the chairman.”
She nodded again.
Shin Semi felt confused. She felt different around this man. Why was that? As she pondered by her lonesome, her curiosity sparked back to her memory.
“By the way, why didn’t you answer my call?”