Chapter 15
Chapter 15
Translation: Godtl
There's a saying like this.
The domestic market has its growth limits.
"I've told you repeatedly. You shouldn't be trading the domestic market—you should be trading the U.S. market!"
"Yeah, right. So I can pay double taxes to both the U.S. and Korea."
"Exactly. The government gives tax breaks~. Besides, it's corporate tax anyway."
"Even with tax breaks, you still end up paying what you owe. In that case, the domestic market is better!"
"Then you can just trade the domestic market forever. Stay a loser stuck making 2,000 won trades."
There are several reasons why the domestic market's growth has stagnated.
The threat of war, the high proportion of foreign sell-offs, the short-term profit goals of the National Pension Service and other institutions, and extremely tight financial regulations.
And among these, the biggest factor was, as always, owner risk.
In Korea, companies are passed down through succession.
This has become so deeply ingrained in the culture that corporate governance revolves around conglomerate owners rather than being shareholder-friendly.
In contrast, the U.S. implements shareholder-friendly policies, and the culture of passing down a company you founded to your children is virtually nonexistent.
As a result, there's a strong perception that companies belong to shareholders rather than being dominated by a particular family or individual.
Isn't that the kind of terrifying place where even founders get unceremoniously ousted?
Dividend expansions, shareholder returns through share buybacks.
U.S. institutions also actively buy in during stock price rallies alongside long-term investments.
This was the biggest factor driving the growth of the U.S. stock market.
"Plus, the U.S. market has no upward limit."
"It has no downward limit either."
"Then you can just short it."
"Ah~ If it were that easy, we'd all be rolling in money. What's your team's return rate this month?"
"W-well, that's..."
As companies grow, multiple departments emerge.
Gwangun Securities was no exception.
So even within the same securities firm, people play in different arenas.
Some trade the domestic market, some trade overseas, some only deal with bonds, and others only trade options.
"The buying was spot on. But the selling timing was just off. If only you'd sold at the right time, we'd be throwing a proper performance bonus feast."
They say buying is a skill, but selling is an art.
No matter where you trade, nailing the selling timing is incredibly difficult.
"Do something about the U.S. market. When the big brother wobbles, all the little siblings wobble too."
When the U.S. market shakes, the global markets tremble.
The Korean market took a hit, ultimately because of the U.S. market.
"What can we do when those bastards suddenly start throwing tantrums about raising rates because they're sick of zero interest rates? And you? You just had to pick up the fallen leaves to make money—why can't you even do that and end up in the red?"
"Hey. The mess we're in is because of you guys dumping option sales."
"Anyone listening would think I crashed the U.S. market. Haven't you guys been making easy money all this time? I should've just traded options too."
If you had to pick the department with the least attendance in a securities firm, the options desk would be the first choice.
The department selling options doesn't have much to do.
Selling options is like selling lottery tickets—gamblers buy them left and right, hoping for a big win.
And almost 99% of the time, the securities firm takes the profit.
It's a structure where they just sit back, pick their noses, and collect the falling profits.
But once in a blue moon, that day comes.
The day they have to pay out the jackpot to the lottery winner who beat the astronomical odds.
"Any teams that hit the jackpot this time?"
"Just one. That prop trading team over there."
"Huh? Wasn't that the team that got absolutely wrecked?"
"No. I heard through the grapevine there's one team that made record-breaking profits this time."
"In the domestic market, not the U.S.? Just how much did they make?"
Then one team leader whispered quietly.
"I heard it was 50%."
"Hey, that's nonsense. Who makes 50%? Even the US market can't pull that off."
"There are rumors saying over 50%. I heard it was 60%? And by a single person alone?"
"Stop spreading baseless rumors. Does that even make logical sense?"
"That's why, right? I heard they're establishing a new team in the prop trading department this time?"
That was even more bizarre.
With so many traders likely jumping ship due to the unbearable pressure from the bear market, they're increasing teams instead of reducing them?
"So, who's the new team leader?"
***
Over the years of running the guild, the Guild Leader and I occasionally met just the two of us.
And there was always one place we went.
"I was thinking of treating you to some high-end course meal, but—"
"Ah, come on. I know your tastes too well, hyungnim. Pork belly and soju—that's your favorite, isn't it?"
"You brat. Always knowing just what to do, huh?"
You'd expect the president of a securities firm to dine at high-end restaurants or omakase every day, but surprisingly, hyungnim had simple tastes.
"Ugh. I can't stand omakase. All that seafood and weird vegetables. The meat portions are tiny as a mouse's tail. No thanks, absolutely not."
"Don't you think you're too obsessed with meat?"
"My daughter says the same thing every time. That my tastes are like a grade-schooler's. But hey, you only live once—might as well eat what you want!"
"You'll get gout at this rate, hyungnim."
"Tch. You nagging me too? On such a fine day. Hurry up and make a toast already."
"Yep!"
The perfectly sizzled pork belly, topped with sweet and tangy scallion salad, followed by roasted garlic.
Wrapping it all in a leaf, stuffing it in one bite, then finishing with soju.
"Ahhh—"
This was heaven.
"So, is Yeong-cheol that bastard joining the raid? We can manage without a DPS, but no support is a huge disadvantage."
"Right. I'll drag him here no matter what it takes."
"But I get where he's coming from. Game devs always neglect support classes, so of course he wants to quit too."
This was how it always went when we met.
From start to finish.
All day, nothing but game talk.
Usually, when meeting elders, it's all about future dreams. How you'll make a living.
Life lessons and personal anecdotes.
That kind of tedious stuff.
But hyungnim never brought up personal matters—just comfortable game talk, which I loved.
"Ahem. We didn't meet today to talk games. Got carried away again. We'll waste all our time like this."
But today, the person who came to see me wasn't the Guild Leader.
He was the president of Gwangun Securities.
"Jin-ho."
After a brief silence, the president downed a shot of soju and spoke gravely.
"You have your own way of investing, don't you?"
My way of investing.
Of course I did.
"Yes."
Relying solely on intuition.
That was the only one I had.
"I thought so."
Hyungnim nodded as if he'd expected it.
"I won't ask how you achieved those unbelievable returns or what your investment method is. Because even if you explained, I wouldn't understand. Probably no one else would either. Maybe it's an algorithm only you in this world can comprehend. Your day trading profits defy all logic. It's not something achievable through mere luck."
An algorithm only I could understand.
If I said I invested based solely on a gut feeling—who would believe that?
"Normally, I prioritize ability. Until now, I've never hired anyone based on school ties, regional connections, or even family if they lacked the right skills. The only exception to that principle was you."
"Really?"
"Yeah. Of course, the fact that you've been managing our guild so well, especially dealing with all the annoying things higher-ups throw your way without complaint and mediating skillfully—that played a big part in my favorable view of you."
If it hadn't been for hyungnim, I'd still be holed up in some dingy room, miserably preparing for job applications.
I wouldn't have even dreamed I had this kind of talent.
"And now I get to eat samgyeopsal and drink soju with hyungnim like this? Chatting about games too?"
"Heh. This is the best part, honestly."
I also loved clinking glasses and chatting like this with hyungnim.
Maybe it was precisely because of this relaxed atmosphere that I never once suspected this man was the president of that massive securities firm.
Come to think of it, we hardly ever talked about personal matters when we met.
"I think our company's success is largely thanks to that philosophy. If someone had talent, I pushed them hard. And I feel like now is exactly that kind of moment."
The president filled my glass again and then dropped a sudden question.
"Want to try being a team leader?"
I nearly dropped the glass I was holding.
"Huh?"
"I told you, didn't I? Talented people need to be pushed forward aggressively. Honestly, this is the first time I've pushed someone this hard. But you're also the first to pull off that kind of day trading profit in just five days."
I drained my glass awkwardly.
I hadn't worked at many companies or for very long, but I knew it usually took years for a new employee to rise to team leader.
In other words, this was an extremely unconventional, lightning-fast promotion.
"If I'm a team leader... does that mean I'd be leading a team?"
"Exactly. You're always the raid leader in the guild, right? Think of it like that."
"Comparing it to that feels a bit..."
"Hey, do you have any idea how hard raid leading is? From where I'm standing, that's tougher than being a team leader."
Team leader? Me?
I instinctively pictured Team Leader Park Hong-seo.
Compared to that imposing, intimidating boss, I couldn't help but feel even more inadequate.
"Usually, team leaders are classified as Elite rank. And you know how Senior traders take 20% of profits, right? But from Team Leader up, it jumps to 30%. And that's not all—your working capital increases too."
"How much does it go up by?"
"50 billion."
"!?"
That was ten times the amount I was currently handling.
"Of course, you're not expected to manage all 50 billion alone. As a team leader, you'll have team members, right? They'll be Senior traders. Just like you do as Team Leader, you'll need to allocate funds appropriately among them. Even then, you'd still be handling at least 30 billion yourself."
30 billion.
An astronomical sum.
Earning just 10% of that would be 3 billion.
Taking that as salary would mean 900 million!
"On top of that, team leaders get higher bonuses. If your team performs well overall, you get an additional 10%."
Most prop trading teams aim for daily returns between 0.1% and 1%.
Because running that for a month yields over 10% in profits.
Which would mean my monthly salary would be a staggering 1.2 billion.
'So Team Leader Park was making bank too.'
No wonder the financial world seemed like such an insane place to ordinary people.
"But am I really fit to be a team leader? I haven't even been here that long. I don't even have a single basic certification."
Just looking at the other team leaders—no, even Assistant Manager Lee Hye-rin alone—their credentials were overwhelming.
"What do certifications matter? There's no legal issue. Even if you had a hundred certifications, this place evaluates you based on profit margins. And you've already proven yourself. Sure, there might be some grumbling among the employees, but if they're unhappy, they should just match your returns."
In the end, in this world, your profit margin was your credentials.
"So? Want to give it a shot?"
"Only a fool would say no, right?"
"It's true that it's a position that comes with burden. A promotion means more responsibilities to shoulder. But... it's also true that this is an unprecedented rapid promotion."
Honestly, I didn't have the confidence to smoothly hold morning meetings and issue directives like Team Leader Park Hong-seo. But then again, when had I ever joined this securities firm because I had prior knowledge about it?
"I'm not sure if I'll do well, but I'll give it my all."
"Uahaha. Good. That's the spirit. Then shall we toast to your promotion, Team Leader Jeong?"
On my first day, I was a regular employee. A few days later, a junior manager.
And now, a team leader.
The title sent an oddly thrilling sensation through me.
"Yes, Guild Leader."
After the celebratory toast, the Guild Leader waved his hand as if thoroughly fed up.
"Hey. Enough work talk now. It's exhausting talking business even in front of delicious samgyeopsal first thing in the morning."
He had switched back from "President" to "Guild Leader" mode.
"You're right. We're at our best when cracking jokes over games."
"Keukeu. So I heard you got wrecked in yesterday's raid? All the guild members were talking about it."
"No. That was... hyungnim, I got hit with the absolute worst luck imaginable."
"Oh my, is that so?"
"I'm serious! Ah, I should've recorded the footage."
Indeed, chatting about games with hyungnim was the most comfortable and enjoyable thing for me too.
＊＊＊
"I'm home."
After drinking with hyungnim late into the night yesterday, talking only about games until I finally came home and slept past noon.
"Oh. What? You're here again today?"
"Of course. It's my house."
"Last time you didn't come for a whole month. Did you break up with your boyfriend?"
"Your intuition is disgustingly sharp. Judging by your state, you drank yesterday. Company dinner?"
"Is it that obvious?"
"What kind of company holds dinners on weekends? That's seriously weird."
My younger sister criticized how corporations torment people even on weekends.
Though I should've said it was a guild executive dinner, not a company one.
"And there's another reason I came today."
"Hmm?"
"I mooched off you last week. I felt bad making someone who hasn't even gotten their first paycheck treat me, so today it's my treat. Oh right—as a congratulatory gift for your new job, should I buy you a suit too? When mom and dad come over today, let's go out to eat and hit the department store."
"Y-you really don't have to go that far."
"Too bad. Remember? When I first got my job, you worked part-time to buy me dress shoes. Do you still wear them?"
That was already years ago.
My sister still wore those shoes.
A tsunami of emotion suddenly washed over me.
"You're surprisingly decent... Don't you need the money for yourself? Living alone and all."
"Got my salary plus performance bonus on Friday~. I'm making decent money now, you know. Don't underestimate me."
My sister stood tall, puffing up with pride.
I felt an inexplicable swell of affection.
When we were young, she used to follow me everywhere crying nonstop.
"And oppa. Even though Gwangun Securities is a big company, as a new employee your salary must still be small. That's exactly why you need to prepare for retirement—open savings accounts properly and research bank pensions. Ah. Since you work at a securities firm, can't you invest in things like ETFs? Still, you should start preparing step by step from now. Want me to look into some good products for you?"
"I... guess I should?"
"Of course! Haven't you heard all the talk about how our generation won't get pensions? That's why we need to prepare while we're young. And now that you have a proper job, you'll probably start thinking about marriage too, right? Shouldn't you save up? For salaried workers like us, saving 100 million won takes an entire lifetime."
"..."
My sister chattered on about her "100 Million Won Project," explaining various savings accounts in detail.
I listened quietly and nodded.
So this is why office workers have to twist their entire bodies just to save 100 million won.
"So, how much is your salary? I'll make a plan based on that amount."
"Well..."
This is awkward.
How am I supposed to explain that just yesterday, my paycheck alone was over 700 million won?