Chapter 24
Chapter 24
Kim Yuseong was staring at the monitor. After being caught by Yuri, he had decided not to look anymore, but he could not resist.
Watching that guy’s trading history could help with investment decisions.
Kim Deoksu seemed to have a lot of interest in the semiconductor sector.
Last time he bought Sammi Semiconductor, and this time it was KS Semiconductor.
"Why this?"
Kim Yuseong tilted his head.
It was a semiconductor company that had long suffered from chronic deficits and poor performance. Even though the KS Group had acquired it and made investments, there were still no clear results.
On top of that, in the DRAM market it was struggling behind Samhyeon Electronics, and in NAND flash memory its performance and price competitiveness were worse than Japanese and American companies. The reason was the company’s chronic defect problems.
KS Semiconductor was still a stock with absolutely no visible upward momentum.
Yet he had bought fifty billion won worth of it.
Kim Yuseong could not understand.
But he decided to accept it. It was because of Yuri’s words telling him that if his own mind could not understand it, then he should simply believe.
Yuri was the person who had achieved the highest return rate and the largest profits in the history of Mirae Securities. Before that, it had been their older brother. Thinking about it that way, he himself really was lacking.
That was one thing, but Kim Deoksu had broken Yuri’s record with astonishing performance. However, since it was a simulated investment, it had not been officially recognized.
Anyway, he believed there must be some reason KS Semiconductor could rise.
Even if he himself could not find it.
At that moment the phone rang. As soon as he saw the caller ID, his shoulders shrank.
Why is hyung calling?
His brother did not particularly scold him, but he was always uncomfortable and afraid around him. More frightening than their father, his brother was someone he feared.
After hesitating for a moment, he answered the phone.
"This is Kim Yuseong, head of the Risk Management Department."
"It's me."
"Oh, what’s going on?"
"How’s the Risk Management Department?"
"It's interesting. Not as much as trading, though."
"Work hard. Risk management is the first step of investment."
"Yeah."
"Let me ask you something. Is it true that Mirae Securities invested in a startup called Jalnolja?"
"How did you know that?"
"You don’t need to know that. Who made the investment?"
"Kim Deoksu did."
"Kim Deoksu? I feel like I’ve heard that name."
"The intern Yuri brought in. He’s a new employee now."
"...Yuri?"
"Yeah."
There was a brief silence.
Then a laugh full of disbelief came from Kim Yugeon.
"Hahaha, this is something."
"Hyung, why?"
"Kim Deoksu made that investment? And you believe that? Tsk tsk, you idiot. Kim Deoksu is just a front. The real one behind it is Yuri. Yuri."
"Yuri? Why would she do that?"
"To make you let your guard down. Looks like Yuri is after your share. Get your head straight."
"O-okay."
"Yuseong, you’re too kind, so it seems like you don’t understand Yuri well. She’s not ordinary. I’ve told you many times. Never trust her."
"Okay. I understand, hyung."
"You need to wake up. If you keep going like this, you might lose even your share."
"Yeah."
"Are you just going to leave her alone? Shouldn’t you take some kind of action? She even brought in Kim Deoksu and is building her own faction right now. As your brother, I’m worried about you. I’m worried Yuri might use you."
"No, hyung."
"You should start moving too. Since you stay still, people treat you like a sack of straw."
"Move? Alright."
"Good. And watch Yuri and Kim Deoksu closely and report to me. That way I can support you."
"Okay."
"Stay sharp. What Yuri is aiming for is your share. Watch carefully and report. Then I’ll make sure you get your share. Understood?"
"Yeah."
Just as he was about to hang up, Kim Yuseong remembered something he wanted to ask.
"...Hyung, what do you think about KS Semiconductor stock?"
"KS Semiconductor? The DRAM market is in a downturn right now. Except for Samhyeon Electronics, it’s hard to make money. Yuseong, what’s important in the semiconductor industry?"
"Technology and capital."
"You know well. KS Semiconductor hasn’t had the capital to develop technology for the past ten years. There’s no need to even look further. A company like that will never see its stock rise. And there are rumors it might go bankrupt soon."
"Bankrupt? Why?"
"They’re trying to hit the jackpot with some strange development, but they keep failing. There are widespread rumors they’ve already lost several trillion won."
"Several trillion? Really?"
"You don’t believe your brother?"
"N-no. Of course I do."
"Unlike father, I believe you have innate talent. I’ve never seen anyone as capable as you in risk analysis and management. You’ll have to help me a lot in the future."
"Of course."
"Then I’ll hang up. It would be best to remove Yuri from the company as soon as possible. Think carefully about a method."
"Okay."
"I believe you’ll do well."
After hanging up, Kim Yugeon stroked his chin and thought about his cute younger sister, Kim Yuri.
"Look at this. What she’s doing is rather cute."
One corner of Kim Yugeon’s mouth rose.
Because she was the youngest, he had always indulged her.
Now she did not know her place.
He could no longer simply watch her cutely from afar. It seemed the time had come to cut off the sprout.
A chilling smile passed across Kim Yugeon’s face.
His older brother Kim Yugeon served as the head of Asset Management at Mirae Securities and had produced astonishing results.
Their father had tried to appoint him as the president of Mirae Securities, but he refused.
Despite their father’s attempts to stop him, he moved to a global investment firm called Soft Investment.
He said it was to learn world-class advanced financial techniques that could not be learned at Mirae Securities.
And even there, he produced outstanding results and was promoted to executive.
The brother who would one day lead the Mirae Group.
If he followed his brother faithfully, he would probably receive one third of the group.
Therefore, if he wanted to secure a share, he needed to help his brother rather than his younger sister Yuri.
He wanted to earn some points with his brother this time.
He looked at Kim Deoksu’s trading history.
All fifty billion won were concentrated in KS Semiconductor.
If the stock price of KS Semiconductor fell, the losses would be enormous.
"This won’t do."
As the head of Risk Management, he could not remain still.
And if Kim Deoksu was a puppet while Yuri was the one controlling him, then he definitely could not leave it alone.
He had to interfere so things would not go well.
He would also take revenge for what Yuri had done to him recently.
He intended to liquidate Kim Deoksu’s account.
At that moment he realized something strange.
His brother had said KS Semiconductor would fall.
If so, there was a high chance it would drop.
Then why was he trying to liquidate the position now?
If he left it alone, it would naturally incur losses.
At that moment a very good plan came to mind.
Kim Deoksu was stubborn.
He would not change his position.
And if he attacked Kim Deoksu, Yuri would not stay still.
If he used this well, just as his brother said, he could drive them out of Mirae Securities.
He stood up and went to the seventh floor where the Asset Management teams were gathered.
Today it was quiet because everyone was focused on trading.
In Team 9 there were only the occasional sounds of keyboard typing and phone calls.
Since buying KS Semiconductor stock, I had studied the semiconductor industry in depth. The more I studied it, the more I could feel how important it would be in the future.
There was a reason semiconductors were called the rice of industry.
For future technologies such as artificial intelligence and autonomous driving, semiconductor technology was essential.
Semiconductors were divided into memory semiconductors, which handled data storage, and non-memory semiconductors, which handled information processing and computation.
Originally, the United States had been the absolute powerhouse in both fields.
However, with the rise of Japanese companies in memory semiconductors and the massive checks against them, and later with Korean companies emerging as new powerhouses, the United States concentrated its capabilities in the non-memory semiconductor field.
As a result, the United States was now the strongest country in the world in non-memory semiconductors, and almost all global non-memory semiconductor design companies were in the United States.
The United States handled design, while manufacturing was outsourced to Korea and Taiwan.
Through this structure, they focused on design and strengthened the competitiveness of the non-memory semiconductor industry.
It was a clever strategy by the United States.
Right now the semiconductor industry was at a turning point.
With the emergence of artificial intelligence, the importance of non-memory semiconductors had rapidly increased. At the same time, in the memory semiconductor field, high-performance memory capable of storing massive amounts of data quickly was required.
Samhyeon Electronics, KS Semiconductor, and Micro Semiconductor were all risking everything to develop next-generation semiconductors.
Samhyeon Electronics focused on enhancing the performance of GDDR5 memory, while KS Semiconductor focused on a high-bandwidth memory semiconductor called HBM.
High-bandwidth memory was a high-performance, low-power memory needed for artificial intelligence and data centers.
However, due to high prices, technical difficulty, and the belief that demand would be insufficient, Samhyeon Electronics did not aggressively enter HBM development.
In contrast, KS Semiconductor bet everything on developing HBM semiconductors.
Several trillion won had already been invested in development.
If it failed, KS Semiconductor and the KS Group would suffer a fatal blow.
"Who will win this war?"
Because I had smelled the refreshing scent of eucalyptus at KS Semiconductor, it might be possible to think KS Semiconductor would win.
But that was not it.
The scent did not mean that.
It only meant the stock price of KS Semiconductor would rise.
For example, if KS Semiconductor failed in technology development and Samhyeon Electronics and Micro Semiconductor started competing to acquire it, the stock price could still soar.
I wanted to know the reason why the stock would rise.
Only by knowing that could I use my ability more effectively.
"What are you doing?"
While I was staring at the monitor thinking, the assistant manager asked.
"Oh, I was researching HBM memory. Since KS Semiconductor is focusing on HBM, do you think they can succeed in development?"
"Oh. HBM memory. Well. But the team leader is more of an expert in semiconductors than I am. Team leader?"
The team leader, who had been focused on the monitor, raised his head and looked at us.
"Deoksu is asking about HBM memory semiconductors. Do you think KS Semiconductor can succeed in development?"
"For now, the market is skeptical. The rumor sheets say it failed."
"Really?"
"Then KS Semiconductor could be in danger."
"That’s right. What do you think?"
"I think they’ll succeed."
"Why?"
"More than anything, KS Semiconductor has an excellent network. Samhyeon Electronics mostly uses subsidiaries, but KS Semiconductor works with many partner companies."
"If they’re subsidiaries, that means vertical integration. Wouldn’t that be more advantageous for technology development?"
"That’s true, but they might become trapped in their subsidiaries’ technology and fail to adopt better technology from outside. Not every subsidiary is the best in the world."
At my words, both the team leader and the assistant manager nodded.
"That makes sense."
"One of the weaknesses pointed out about Samhyeon Electronics is exactly what Deoksu just mentioned. They tried to turn the semiconductor equipment and materials companies supplying them into subsidiaries. They even went to court with Sammi Semiconductor and lost. They had tried to steal Sammi Semiconductor’s technology and pass it to a subsidiary."
"Right. I think that issue is important too. Sammi Semiconductor is currently the world’s best company in the TC bonder field, but Samhyeon Electronics uses equipment from its subsidiaries. Maybe not right now, but this kind of behavior could hold Samhyeon Electronics back."
As I finished speaking,
Clap clap clap.
The team leader clapped with a satisfied expression.
"That’s a truly perfect analysis. You’ve been here less than a year and you’ve grown this fast. Watching you makes me proud. In that spirit, shall we have a drink tonight? Assistant manager, do you have time?"
"Of course I’m in."
"Wait, team leader, you’re not asking my opinion?"
"Come on. The youngest just says yes and follows along. Why, don’t you like it?"
"It’s not that I dislike it."
At that moment, Director Kim Yuseong from the Risk Management Department entered.
He was someone who was never welcomed on the seventh floor.
Usually the team leader would look slightly tense in front of him, but today he looked completely relaxed.
"What brings you here?"
"Team leader Kim, I came because of employee Kim Deoksu’s trade."
"What? Director, that’s not what we agreed on. If you do this, I can’t stay quiet either."
The team leader’s eyes widened.
"Stay quiet? I don’t know what you’re talking about."
Director Kim Yuseong shrugged.
"Anyway, Mr. Deoksu, liquidate KS Semiconductor. It’s already fallen five percent. There are rumors in the market that it might go bankrupt. I could close it under my authority, but I’m giving you a chance out of consideration."
"The liquidity issue at KS Semiconductor is temporary."
The team leader protested.
But Director Kim’s stance did not change.
"I don’t care about that. I have to manage risk, so liquidate it. If you don’t want to, I’ll do it myself."
"Director Kim!!!"
Team leader Kim Yuri slammed the desk and stood up.
In an instant the entire seventh floor became silent.
"Team leader Kim, this is the legitimate authority of the head of Risk Management."
"..."
"You want to keep the position that badly? Then you share responsibility. If the loss exceeds ten percent, you take responsibility too."
"Responsibility meaning?"
"Obviously packing your bags and leaving. How about it? If you stake your position too, I won’t make an issue out of this investment."
"...Alright. Let’s do that."
After hearing the team leader’s answer, one corner of Director Kim’s mouth lifted.
Seeing that expression, I immediately sensed he had some hidden scheme.
He seems to be deliberately interfering with my investment.
When someone attacks me, the best defense is offense.
I did not want to stay still.
"Director."
When I called him, he looked at me.
"Why? Are you going to sell?"
"No. Instead, I’ll stake my position too. If there’s even a one percent loss after one month, I’ll resign. So Director, you should stake your position as well."
Director Kim Yuseong’s eyebrows rose.
"What? You want me to stake my position? Is that something a new employee says to a director?"
"Then is it acceptable to interfere with the investment of an employee who has earned hundreds of billions, using risk as an excuse?"
"An excuse? Risk management is my legitimate duty!!"
"The team leader and I have staked our positions, so Director, you should stake yours too. The bet should be fair."
I looked straight into his eyes.
If he backed down here, Director Kim’s pride would be crushed.
Therefore.
"Fine. Let’s do it. Mr. Kim Deoksu. You will regret this."
"I’m certain I’ll make a profit."
I had smelled the scent.
So it would definitely rise.
I did not know when, but it would.
"Let’s see who wins."
After hearing my answer, Director Kim Yuseong left Asset Management Team 9 with a mocking smile.
Several days passed.
KS Semiconductor kept repeating rises and falls like a clothesline.
My current return rate was minus seven percent.
Since I had smelled the scent, it was certain it would rise.
Even so, the frustration and anxiety could not be helped.
I wanted to smell again the scent I had smelled when I bought KS Semiconductor.
The cool and refreshing eucalyptus scent that felt like it cleared my nose.
I opened the trading window.
As I was about to click KS Semiconductor, I noticed it was listed among the top trading volume stocks.
The trading volume was twice as large as usual.
"Huh? What’s this?"
A change was quietly beginning.