Translator: Dreamscribe
[GEAR, the climate change response organization spearheaded by Kwangwoon Group, has received official certification from the U.S. governnt. The White House has expressed that a fundantal solution to the increasingly severe global warming crisis is necessary, and that if a company with as much capital as Kwangwoon is willing to invest generously, the U.S. governnt will match that commitnt. Accordingly, companies participating in GEAR will be subject to lower tariffs going forward, while those that do not will face higher tariffs......]
It seed we weren't the only ones concerned about the worsening climate change.
The ESG Association evaluates companies and determines whether they're worth investing in or whether investnts should be withdrawn.
GEAR, on the other hand, wasn't created for investnt purposes.
Its role was genuinely born from concern over global warming, using new governnt policies rather than capital as leverage to monitor and sanction corporations.
If it were just an ordinary environntal organization, companies could ignore it.
But GEAR, backed by a governnt, the U.S. governnt no less, would be much harder to dismiss.
"That's a relief. The White House processed it faster than expected."
"Yes. We thought the U.S. governnt might push back, but the White House actually took the initiative, which sped things up considerably. The series of natural disasters that hit the U.S. recently probably had a lot to do with it. Global warming is increasingly disrupting people's daily lives."
Extre heat followed by extre cold, one after another.
Snow was falling in places it shouldn't, and excessive rainfall was causing floods in regions that should have been dry.
People had co to realize that the earth was growing sick, and that the ti to act had arrived.
"One concern that's been raised is that we could use GEAR to impose private sanctions. There were opponents because of that, but given the need for strong action right now, the White House seems to have sided with us."
"Private sanctions should never happen. We created this organization for the global environnt, not to throw our weight around with the U.S. governnt as a shield, right?"
I had no intention of ever using GEAR for private purposes.
With the White House backing it, GEAR could target any company it wanted.
It could seize on so minor issue and deal a devastating blow to that company.
That was likely the concern, but I would never do such a thing.
"So please tell headquarters to maintain proper oversight. Make sure the words 'private sanctions' never co up. If that kind of misunderstanding keeps arising, GEAR might not be able to fulfill its real purpose."
"Yes, sir. I'll relay the ssage."
"And how are things going on the European side?"
"Ah, actually, the EU has agreed to accept all of our conditions through negotiations with headquarters. They've approved Sentinel providing ard escort for shipping vessels with significantly relaxed weapons restrictions, and fast-tracked the establishnt of bases in each country as well."
In truth, even if the EU hadn't accepted our conditions, I'd planned to send food supplies at a reasonable price.
People's lives were at stake, and using that as leverage for threats wasn't right.
Still, it was fortunate that the EU had made concessions for us in return.
"They won't try to back out later, will they?"
"They've reportedly finalized everything with a firm contract. If they breach it, the terms include pulling out all the money that the National Pension Service and Kwangwoon currently have invested in Europe and filing a massive lawsuit."
Even with all that, the EU could still stab us in the back later.
I could only hope they wouldn't.
"Please keep a close eye on the European side going forward. Anything else?"
"This is a report from the research team on where our Pri division, Kwangwoon Securities, and the National Pension Service should invest. They've focused the data as much as possible on safe options."
Our Pri division, Kwangwoon Securities, and even the National Pension Service.
From the mont things had gotten on track, I'd stopped making risky investnts and kept the money in the safest possible channels.
Normally, once funds were placed in Safe Assets, they'd sit untouched for at least six months.
Then, if nothing unusual ca up, the research team would compile data, report to once every six months, and reassess what other investnt areas might be worth considering.
Today happened to be one of those days.
"......"
I scanned through the various items quickly.
Most of them were Safe Assets, so my Intuition remained quiet.
Even after flipping through page after page, nothing particularly caught my eye.
'At this rate, it might be best to just maintain the status quo......'
Just as I was thinking that.
Sothing near the end made my eyes flash.
"China......?"
"Ah. Apparently the China side currently carries significant risk on multiple fronts. Starting with the real estate bubble that burst last ti, the Sichuan earthquake paralyzed parts of the regional economy, there's local governnt debt risk, rising shipping freight and insurance costs, and so on. The country is in serious turmoil right now. The food crisis has compounded things too, and we've even received a request from China for food aid."
"We received a food aid request?"
"Yes. It ca through headquarters, but since we were in the middle of negotiations with the EU, headquarters apparently hasn't sent a definitive response yet."
But the data on Chinese ETFs, Bonds, and becoming an Anchor Investor to pursue Book Building was stimulating my Intuition.
"Could you bring the detailed materials on this?"
"Oh, yes. I'll bring them right away."
Before long, a large volu of materials sent by the research team was brought into the CEO's Office.
"......"
But sothing was off.
When I'd first looked at the summary the research team sent, everything had seed to glow promisingly.
But now, examining the detailed materials up close, they were all tinged red.
Touching them was like having an intense mala spice slam into my tongue, the burn so shocking that the docunts nearly slipped from my hands.
"These are the right materials, correct?"
"Yes. The research team believes that while China looks difficult in the short term, there's a high probability of recovery in the long term, so they're recomnding investnts in the relevant ETFs, Bonds, and long-term Options on LNG and iron ore."
At the Departnt Head's words, the red-glowing docunts visibly blazed even hotter.
What this ant was clear.
China was anything but a Safe Asset.
* * *
Chairman Hwang Dae-woon tilted his head at the executives' report.
"Make sure the words 'private sanctions' never co up? Jin-ho really told you to relay that?"
"Yes. He says to avoid any misunderstanding that the newly launched GEAR is being used for Kwangwoon's private purposes."
What was GEAR, really?
On the surface it claid to address global warming, but it was an organization with very clear intent: to impose private sanctions.
And yet he was telling them not to create the impression it was made for private sanctions.
Anyone could see it was an organization built to serve Kwangwoon's interests.
"He probably ans to build the right image. Invest boldly in the relevant fields as if we truly care about global warming, receive support from various governnts, and then deploy it at the decisive mont."
"So you're saying we run it as if we genuinely care about the environnt day to day, then use it as a weapon when Kwangwoon needs it?"
"Yes. Just as the ESG Association used dia to lower Apple's ratings and significantly impact their stock price, our GEAR would sanction competing companies at the right ti to inflict damage. However, to do that, we need a certain degree of image building and groundwork first."
So GEAR wasn't a weapon to be used in the short term.
That ant they would gradually accumulate its power and unleash it all at once in the future, and the thought of what target Jung Jin-ho was aiming at was already frightening.
"The destructive power would be imnse."
"Yes. The U.S. governnt has officially declared its support, hasn't it? No company could withstand a coordinated attack from both the ESG Association and GEAR."
Attacking companies under the guise of environntal concern.
It was a truly brilliant cover.
"Did you relay the China matter?"
"Yes."
"What did he say?"
"He said he's leaving it to headquarters."
"To us?"
Whenever Jung Jin-ho didn't make the call himself and left things to headquarters, Hwang Dae-woon felt a bit of pressure.
The worry that they might make a mistake.
But they couldn't leave every decision up to Jin-ho.
Reading the room and handling things with good judgnt was headquarters' job, after all.
"By the way, Chairman. Our dostic stock market is in turmoil, and apparently Wall Street is rattled too."
"What are you talking about all of a sudden?"
"CEO Jung Jin-ho has reportedly pulled so of the money tied up in Safe Assets and started making large-scale purchases of ETFs and stocks across Hong Kong, Singapore, and Wall Street."
"What kind?"
"All China-related nas."
"Isn't Jin-ho keeping most of his money in Safe Assets right now? Did he determine that China is safe this ti?"
Between the securities firm and the National Pension Service, the combined capital amounted to thousands of trillions of won.
Rather than making risky investnts that would shake the markets, Jin-ho had apparently decided it was better to park the money in Safe Assets and generate steady returns. At so point, he had shifted to nothing but safe investnts.
anwhile, he'd focused headquarters' capital exclusively on acquiring companies.
"If he truly thought it was a safe asset, Wall Street wouldn't be this stirred up."
"Wait. Don't tell ... he went Short?"
"Yes. China selected Kwangwoon as an Anchor Investor for Book Building, but he rejected that and instead built up large-scale Swap and Futures Positions in the opposite direction. Officially he cited Risk Managent, but considering he also induced a reduction in CHN short-term borrowing, it doesn't look benign at all."
At those words, Hwang Dae-woon blinked.
Didn't this look like he was banking on sothing going wrong in China?
"Ji-hwan. Is this true? Is China really in danger?"
"Between the earthquake that struck recently and the real estate bubble and food crisis, there are problems, certainly. But the Chinese governnt is still holding firm. In other words, Chinese conglorates are actually profiting from this crisis. That's why we assessed investing in China as the safer bet. However......"
"However?"
"CEO Jung doesn't seem to view it favorably."
"So he's intentionally trying to shake the market?"
"Yes. That's why Kwangwoon Securities is planning to release a negative report on the Chinese market starting tomorrow. Since Kwangwoon leads global finance, Wall Street will undoubtedly react to this report."
The Chinese market was by no ans in bad shape at present.
But for whatever reason, Jung Jin-ho was viewing it negatively.
And so he intended to bring it down deliberately.
"If Kwangwoon says it'll happen, it can really make it happen, huh......"
"Yes. This isn't just anyone's prediction. It's the forecast of CEO Jung Jin-ho, a man who has never once failed in any investnt. His reputation has already spread far and wide through the dia. Coming from soone like him, Wall Street will follow his prediction like a trend."
This was why reputation mattered.
Even when the data suggested otherwise, if soone with enough prestige said sothing different, it spread like wildfire.
"Could it be that he's trying to use this opportunity to pry open the Chinese market?"
"Pry it open?"
"China is far too closed off, isn't it? Starting with our KW Exchange, even Netflix can't get in there. But if this causes major internal disruption in China, an opening might appear."
Kwangwoon's influence had already spread across the globe, yet there were still a few places it hadn't breached.
China and Russia were the pri examples.
"Good grief. Just how far does Jin-ho plan to go......"
And now the blade's edge was pointed at those two closed-off nations.
More than fear, there was an honest thrill, a rush of adrenaline.
Because if those two fell as well, Kwangwoon would truly wield influence over every nation on earth.
"Oh, right. What happened with that, by the way?"
"Sir?"
"Japan. Japan. Haven't the election results co out yet?"
* * *
While other countries groaned under food shortages and economic crises,
Japan was in turmoil over a different matter entirely.
Scandals erupting practically every other day and a string of lawmaker resignations had forced early local and mayoral elections.
"Japan is finished......"
Watching the election results on TV, Japanese lawmakers let out groans of despair.
"From local elections to mayoral races. The Pro-Korea faction swept every one of them."
It wasn't just the Pro-Korea faction.
The real problem was that Zainichi Koreans had won seats in droves. [TL: Zainichi Koreans are ethnic Koreans who have lived in Japan for generations, often facing discrimination]
Historically, only a single Zainichi Korean had ever been elected to office in Japan.
And even that person couldn't last long in the political arena.
The disadvantage of being a Zainichi Korean had proven greater than expected.
"But look how much has changed since Kwangwoon started pulling the strings in Japan."
Kwangwoon had dealt Japan multiple economic blows and even assassinated a forr pri minister, seizing control of Japan's economy.
But their ambition knew no bounds.
As if determined to bring Japan entirely under their control, they were handpicking Pro-Korea faction mbers and Zainichi Koreans and funneling them into the Japanese political sphere.
"What's terrifying is that all the strong candidates from our side and the opposition were knocked out of the race. Scandals breaking multiple tis a day."
Japanese politics was deeply conservative.
It was a world where long-established political families had always held the reins.
But Kwangwoon had shattered that tradition.
"They even found Zainichi Koreans who'd never set foot in politics, turned them into dia stars, and carried that montum all the way to election victories."
In other words, the era when a famous political family na guaranteed a win was over.
"Now it cos down to whether you're in Kwangwoon's good graces or out of them."
"Is there truly no way to stop this? This is tyranny. How can Japanese politics be at the rcy of a single corporation?"
"Kwangwoon is no re corporation. It already has the entire world in its grip. How can you call that a single corporation?"
"Then what do we......"
"Kwangwoon has taken down every lawmaker who stood in their way by detonating scandals. Things we ourselves never even knew about, dug up from God knows where."
Kwangwoon's thods were truly insidious.
Sohow they'd unearthed every secret from lawmakers' pasts and exposed them through the dia, burying them socially.
"But fortunately, there is one way."
"R-really?"
"Integrity. That's what we need to uphold. Simply don't give Kwangwoon anything to use against us."
"......"
At that mont, a heavy silence fell over both sides of the room.
Integrity.
What was the virtue of a politician?
Fraud and corruption.
Integrity was a virtue they could never possess.
"If Kwangwoon has nothing to expose about us, we have a chance. But is there anyone here who can honestly say they've walked a political career clean enough to not get caught by Kwangwoon?"
"......"
No one could answer with a clear conscience.
"With this election, Kwangwoon has sent us an unmistakable warning. No matter how clean a politician's image might seem, they can drag them down to ruin whenever they please."
"And those who support Kwangwoon beco stars instead?"
"You're watching it happen right now. Oppose Kwangwoon and your political career is over. Support them and a new path opens."
They all knew exactly what Kwangwoon wanted.
Japan's first-ever Zainichi Korean pri minister.
Just as Japan had once ruled over Korea, now Korea's Kwangwoon was ruling over Japan.
Soone needed to step forward and stop Kwangwoon's ambition, but-
"......"
No one had any intention of doing so.
Even knowing full well that the rise of the first Zainichi Korean pri minister could reduce Japan to sothing like Korea's colony, their own seats mattered more to them than the fate of their nation.
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