Chapter 11
Chapter 11
Ki Sung IT was a first-generation IT company.
Founded in the late 20th century, Ki Sung IT had been at the forefront of developing technologies.
It handled government projects, built financial systems, and had security solutions.
Its reach extended wherever IT technology was involved.
It had even developed an operating system rivaling smartphone OSes and Windows.
Though that had cost the company billions.
The stage-three security clearance allowed access to all of Ki Sung IT’s resources.
After work, Jeong Jin-woo carefully explored stage three, which he had never seen before.
Franchise accounting programs.
Online learning management systems (LMS) with content creation tools.
Enterprise resource planning (ERP) packages for mid-sized companies.
It was a living history of Korean IT—diverse programs, packages, and solutions spanning decades.
As he sifted through older archives moving toward more recent files, some projects stood out.
From seemingly trivial things like a “parallel quantum computing plugin solution” to “mini AI agent projects,” “game-transforming virtual reality,” and “NFTs.”
“Found it!”
One project in particular made Jeong Jin-woo’s eyes widen.
A planning document and data sources for a cryptocurrency business.
Ki Sung IT had already accumulated the technology to issue cryptocurrency but had never brought it to reality.
Years ago, when everyone and their dog was launching coins and urging people to buy, Ki Sung IT had been quietly preparing a cryptocurrency project.
It would have been easy to create, but usage was limited, so the company hadn’t pursued it seriously. At the time, launching a cryptocurrency was practically an admission of “I’m a scammer!”
Reckless MLM companies and gambling operations struggling with exchanges had jumped into cryptocurrency instead.
As Jeong Jin-woo scanned the top-secret stage-three files, one name appeared repeatedly.
The same name he had seen in Ki Sung IT’s old game ending screens.
The very reason he had decided to join Ki Sung IT.
Someone who had joined the company over a decade ago and risen from junior staff to assistant manager, manager, team leader, and then department head.
Every planning document listed “Oh Gong-tae” as the “engineering lead” or “development lead,” even for one- or two-person projects.
“Alright, goldmine found… let’s dig deeper.”
This opened the possibility of turning his graduation thesis into reality. That was why he had joined Ki Sung IT.
He immediately called lawyer Go Yun-seok.
Cryptocurrency, AI, robotics, quantum computing, nuclear fusion, electric vehicles, batteries.
These were the hottest industries right now.
Other industries like biotech, nuclear cells, drones, and defense were also gaining attention, but all ultimately tied back to AI development.
“Attorney Go! We need to start a new business.”
Jeong Jin-woo displayed the Ki Sung IT cryptocurrency business plan on the screen.
“Oh! What kind of business? When we’re talking company matters, call me Vice President.”
“Alright. The cryptocurrency sector.”
Go Yun-seok’s eyes lit up with interest.
“S-suddenly? Isn’t it too late for cryptocurrency? What exactly do you plan to do?”
“The project is based on my graduation thesis. I think it’s possible to bring it to reality.”
“So, you’re not planning a coin exchange but creating cryptocurrency directly?”
Go Yun-seok had seen Jeong Jin-woo’s thesis.
It was about a gold-backed stable coin, not tied to dollars or won, but pegged to gold.
This cryptocurrency could buy and sell rare resources like gold, oil, and rare earth metals.
“Why suddenly cryptocurrency? There are many other emerging industries.”
“There are several reasons. Ki Sung IT already has the development sources and security systems ready to go. And our company JW owns gold mines.”
Jeong Jin-woo hadn’t just brainstormed on paper. He had three years of experience in the ruthless trading industry.
With resources and know-how, he could clearly see the future of resource trading, as clearly as the lines on his palm.
“Oh… Chairman, impressive. So this is why you joined Ki Sung IT. And also?”
“Interest in cryptocurrency has cooled somewhat, so it won’t draw too much attention.”
“Right. Now it’s basically Bitcoin and Ethereum dominating the market.”
Everyone knew this. A new cryptocurrency wouldn’t easily enter the market. Even registering on an exchange was difficult, and trading was slow.
“And third, as my thesis noted, the U.S. movements are suspicious. If cryptocurrency values rise, other countries’ currencies will collapse.”
Economists had been warning about this.
As the global dependence on cryptocurrency increased while the dollar remained stable, the value of other national currencies steadily declined.
Worse, the U.S. Federal Reserve was preparing a dollar-based cryptocurrency. The EU was doing something similar.
If the two strongest currencies, the dollar and euro, became cryptocurrency, other nations’ currencies could instantly become worthless. Economists warned that this could trigger a second global economic realignment following post-WWII dollar dominance.
“The idea is brilliant. Your studies at Seyeon University weren’t in vain.”
“If the U.S. leads, global economic dominance could be lost, so we need some counterbalance while securing our own gains.”
“A regular cryptocurrency wouldn’t matter much. But you really intend to follow your thesis?”
“Yes, exactly.”
Jeong Jin-woo’s cryptocurrency project was nearly identical to standard crypto except for one crucial difference.
That one difference could instantly elevate the project to legitimacy. Only JW Co., with gold mines, precious metal mines, and oil fields worldwide, could do it.
Most cryptocurrencies have no physical backing.
But JW Co. could trade gold directly via cryptocurrency.
They could issue gold-backed stable coins, more solid than dollars or euros, and gain strong credibility.
Once integrated into global gold trading systems, success was nearly guaranteed.
Why issue cryptocurrency if you already have gold?
Combining mined gold with issued cryptocurrency would double JW Co.’s assets.
Gold worth 1 million won plus 1 million won in crypto equals 2 million won in total wealth.
Adjusting the issuance of Gold Coins could even multiply assets ten- or twentyfold.
Transactions could proceed without being affected by foreign economic crises.
“But won’t directly handling the cryptocurrency be tricky?”
“That’s why JW Co. will appear to own it without actually owning it. Initially, it will seem unrelated, though investigations could uncover it later.”
“Make Ki Sung IT the issuer of the coin?”
“Yes.”
“Then proceed to register it on exchanges through Ki Sung IT.”
“Yes! The key is to control Ki Sung IT thoroughly so the coin gains trust.”
“That’s no problem. We can make JW Co. the majority owner with around 95% shares. Multiple companies will be involved, but the real owner will be JW Co. What should we call the cryptocurrency?”
Two names came to mind instantly.
One was his late father, Jeong In-seok, who passed away shortly after seeing his son.
The other was Oh Se-eun, with whom he had lost a fragile connection.
Naming it after his father would make it the IS Coin—not a terrorist organization, thankfully.
Naming it after him would be JW, directly advertising JW Co.
His thesis called it “Money Coin,” but that might tie it too obviously to Jeong Jin-woo.
Intuition was best.
“Let’s call it Gold Coin.”
“Gold Coin? Oh…”
It was a cryptocurrency unlike any other.
A stable coin pegged to gold, directly tradable against JW’s resources.
“Set it equal to the gold price and circulate it through exchanges. From now on, all JW-owned gold mines, oil fields, and rare earths will be traded only via dollars, euros, or Gold Coin.”
“Yes… and?”
Go Yun-seok’s eyes sparkled with excitement.
“Before it’s fully active, instruct all subsidiaries to trade using Gold Coin. That will naturally generate volume.”
“No problem. Trading among subsidiaries will increase activity automatically. Smart move.”
“And crucially… when buying resources from JW Co. with Gold Coin, set the price 0.3% below market value for gold, silver, oil, and rare earths.”
That was the core.
This cryptocurrency wasn’t just for speculative investment.
Gold Coin allowed purchases of gold, silver, oil, and rare earths 0.3% cheaper than normal market prices.
Daily fluctuations in precious metals could be around 2%, so a 0.3% advantage was significant. For transactions worth billions, that 0.3% amounted to huge sums.
“Also, each time gold is mined, Gold Coin will be mined accordingly.”
“Gold Coin… will be the ultimate gold-backed stable coin.”
“Exactly.”
The biggest issue with cryptocurrency is volatility, which makes it speculative.
But Gold Coin is stable, pegged to gold.
Anyone holding it could buy gold from JW’s mines 0.3% below market value. Companies trading with JW would buy Gold Coins to purchase gold, oil, and rare earths at discounted rates.
“Congratulations on starting your first business. Truly remarkable.”
“Congratulations? It’s just the beginning.”
“The market impact will be huge. Phew… we should share the distribution schedule with the WTO, U.S. Treasury, EU, BRICS, and OPEC in advance.”
“Yes, let’s do that.”
“To stabilize market adoption quickly, coordinate with Jerome Musso in advance.”
“Who? Jerome?”
“You’ve already forgotten. I told you to memorize… Jerome Musso, RCF’s…”
“Is that really necessary?”
Go Yun-seok chuckled.
“We’re still too small to build a global order alone. Entrenched powers will block Gold Coin. But involving Jerome and giving him about 5% will remove restrictions. U.S. or Europe… they can’t interfere. Of course, the 5% isn’t free—we’ll get something in return. That’s business.”
Jerome Musso—a hidden force shaping the world. His name was in the file Go Yun-seok had handed over.
“Then proceed that way. First, meet the development lead before starting.”
“Yes, that’s necessary.”
Jeong Jin-woo’s new life, ready to control global wealth, had begun.
And before taking any action, he had to meet and win over the key person: Oh Gong-tae, the department head at the center of all Ki Sung IT development.
Once started, everything would proceed smoothly.
But merely meeting him wasn’t enough—he had to make him an ally.