Golden Spoon Investor

Amidst the confusion, Choi Ho-geun nervously looked at Seok-won before speaking up. "It's true that this is a great opportunity to buy at a low price. However, we don't know how far the market will drop. It might be better to observe the situation for a bit and then buy when the timing seems right."

The other team members nodded in agreement, seemingly sharing Choi's cautious approach.

"When we decided to sell the stocks last time, you said something similar," Seok-won reminded him.

Choi Ho-geun found himself unable to respond. The mere thought of what could have happened if they had delayed or staggered their sales was terrifying.

Leaning back onto the soft sofa, Seok-won looked at his team and calmly posed a question. "Why do you think investors are so eager to sell their stocks?"

"Well, they're afraid of a market crash due to the sudden implementation of the Financial Real-Name System," Choi replied.

Jeong Hwan-yeop added, "It's obvious that big players who have been using borrowed names or anonymous accounts will dump their holdings to avoid exposing their assets. So, other investors will try to weather the storm by selling off their stocks first."

Indeed, the government's main concern when considering the Financial Real-Name System was the potential financial chaos that could ensue from the massive withdrawal of funds by wealthy individuals trying to keep their assets hidden.

The incessant ringing of phones outside the room made it clear just how anxious investors were. Despite the government's attempt to mitigate the shock by delaying the market opening, it seemed to have little effect.

"As strong as the anxiety is, once the market opens, there will be a wave of panic selling, but that panic won't last long," Seok-won stated.

"Are you saying this will be just a short-term adjustment?" Choi asked, unable to fully grasp the confidence behind Seok-won's words.

"Yes," Seok-won replied, nodding without hesitation.

Choi hesitated, finding it hard to believe. "But with so many sell orders coming in even before the market opens and the trading floor filled with people trying to sell, it's hard to imagine the chaos calming down quickly."

Seok-won met Choi's gaze with a calm demeanor. "Do you really think the Blue House would push through such a significant measure without any contingency plans?"

"...."

"All anonymous accounts are now frozen until the owners verify their identities. Withdrawals over 30 million won will automatically be reported to the National Tax Service, and the source of funds will be investigated."

Choi and the rest of the team mulled over the specific details of the president's orders that had accompanied the announcement. They had been so focused on the enormity of the Financial Real-Name System that they hadn't considered the smaller measures that were also in place.

Realizing the significance of these provisions, they began to see the situation in a new light.

"With these specific measures, it will be difficult for large sums of unreported money to flow out of the market all at once," Choi acknowledged.

Seok-won smiled slightly, satisfied that they were catching on. "While it's impossible to plug every hole, the overall outflow will be minimal."

The government was watching closely. Anyone caught trying to move funds would be made an example of, deterring others from making rash decisions.

"And the government certainly doesn't want the stock market to crash. They'll roll out several measures to stabilize the market."

"...!"

"For instance, they might increase the limit on foreign investment, expand credit financing, or allow securities companies to borrow foreign currency."

Indeed, a few days later, the government would announce these very measures to stabilize the market. Choi's eyes lit up as he realized the implications.

"With such incentives, the shock could indeed be mitigated."

"And once the initial panic subsides and investors take a closer look at the details, realizing there won't be a massive capital outflow, what do you think will happen?"

Choi could feel his throat tighten as he swallowed nervously. The rest of the team, too, seemed to realize that their fears and doubts had been replaced with excitement.

"The market, which has been compressed like a spring, will bounce back, possibly soaring higher than before."

Given the potential for a sharp rebound, it was a plausible scenario. The prospect of making substantial profits made Choi's pulse quicken with anticipation.

"If you hesitate and miss this opportunity, there's nothing more regretful," Seok-won warned.

"You're absolutely right," Choi agreed immediately.

He looked around at his team, meeting each of their gazes with a sharp intensity.

"From now until the situation stabilizes, we'll be on high alert."

Choi and the team straightened up, fully focused on the task at hand.

"We'll monitor the market closely. When I give the order, you'll buy up the allotted stocks immediately."

"Understood."

What had seemed like idle waiting had been a deliberate strategy to seize the perfect opportunity. Realizing this, the team members nodded, their expressions taut with determination.

The meeting continued as Seok-won gave specific instructions on which stocks to buy and in what quantities. After the meeting, Choi and the team returned to their desks, walking through the busy office filled with the constant ringing of phones and frantic employees.

"Manager," Jeong Hwan-yeop called softly.

"Yes?"

"Are you sure our new boss is fresh out of university with no work experience?"

Jeong Hwan-yeop glanced at Seok-won's closed office door as he whispered.

"Why do you ask?"

"Just listening to him talk, there's no way he's a rookie."

"Indeed, his market insight and decisive actions are more like those of a seasoned veteran," Yoo Seok-hyun agreed, shaking his head in amazement.

Meanwhile, Hong Jae-hee blushed slightly, lost in thought. "He was really impressive during the meeting, wasn't he?"

"Jae-hee, were you even listening, or just staring at his face?" Jeong teased.

"I mean, he had that much charisma!" she defended.

As much as the team was impressed, Choi was just as taken aback. He had considered himself fairly competent, but Seok-won's insight and boldness were on a level that was hard to fathom.

"He's the chairman's son, after all. It's in his blood," Choi remarked, then shot Jeong Hwan-yeop a sharp look.

"And enough with the 'parachute' talk. Address him properly from now on."

"Sorry about that," Jeong Hwan-yeop apologized, scratching the back of his head.

After sternly correcting Jeong, Choi turned to the other two team members to ensure they understood as well. "You two be careful not to slip up either."

"Yes, sir."

"I've always called him 'Team Leader' from the start…" Hong Jae-hee muttered, feeling wronged, but she quickly fell silent when Yoo Seok-hyun nudged her.

Choi took one last look at Seok-won's closed office door before turning back to his team. "We have a lot of work ahead, so stay sharp and execute the Team Leader's orders without a hitch."

"Understood."

* * *

That afternoon, at Daheung Securities headquarters.

It was just past 2 PM, and the trading floor was packed with people. The anxiety was palpable as everyone awaited the market's reaction to the Financial Real-Name System.

The tension was thick, and some customers smoked nervously, though no one bothered to stop them.

As the clock ticked past the scheduled time and the market still hadn't opened, the murmur of voices grew louder, turning into a cacophony of complaints.

"It's past 2 o'clock—why hasn't it started yet?"

"Is the ticker even working?"

"They better not be keeping the market closed today."

"They wouldn't dare."

"Who knows? The government might just shut everything down if they think the market will crash."

"What the hell is going on?"

"Hey! Stop standing around and tell us what's happening!"

As the atmosphere became more volatile, a man in a short-sleeved shirt and tie raised his hand to his mouth and shouted, "Everyone, please! The opening has been delayed slightly due to some issues. The market will open in five minutes, so please wait a little longer!"

"Are you sure about that?"

"You better not be lying!"

Sweating profusely under the intense scrutiny, the man hastily nodded. "I just got off the phone with the Securities Supervisory Board, and that's what they said!"

The Securities Supervisory Board was the agency responsible for overseeing securities issuance and trading before the Financial Supervisory Service was established.

The angry customers began to calm down slightly upon hearing this.

Seeing the crowd settle down a bit, the man wiped the sweat from his forehead, but his relief was short-lived as the junior employee next to him whispered nervously, "It seems like they're calming down. That's good."

But the man wasn't reassured. His face remained tense. "Good? This is nothing. The real trouble hasn't even started."

"What do you mean?" the junior employee asked, puzzled.

"Look at how things are now. What do you think will happen when the market opens and the index starts to crash?"

The junior employee, who had just been thinking the same thing, turned pale at the thought. The man stared at the crowd with a tight jaw, as if he were watching a ticking time bomb.

As the opening time approached, the tension on the trading floor became almost unbearable. Everyone was silent, their eyes glued to the ticker.

It was like the eerie calm before a storm as time slowly passed.

Finally, at 2:10 PM, the market opened, and the ticker screen came alive with a flurry of numbers.

Instantly, the trading floor erupted as people began shouting in shock and despair.

"Oh no!"

"We're completely ruined!"

"Everything's dropping!"

"Damn it, I should've sold last week."

"What's going on?"

As stocks hit their lower limits one after another, turning the ticker screen blue, the room was filled with panic.

Terrified that their stocks would become worthless, people rushed to their desks, desperate to place sell orders.

"Don't push!"

"I was here first!"

"Move!"

"Who do you think you are, cutting in like that?"

A scuffle broke out as people fought to sell their stocks first.

Securities staff and security guards rushed in to maintain order, but the chaos only intensified.

"Form a line!"

"Stop pushing and move back!"

Meanwhile, a customer who had managed to get to the front thrust his sell order at the staff, demanding urgently, "Sell everything right now! Immediately!"

"The prices are still dropping rapidly. If you want to sell, you'll have to hit the lower limit. Is that okay?" the staff member asked.

"Just sell it now!" the middle-aged customer barked, leaning over the counter.

"Alright, I'll do that," the staff replied, tapping away at the keyboard. But soon, his face turned grim.

"There are no buy orders, so I'm unable to execute the sale. I'm very sorry…"

"What do you mean, 'There's no one to buy'? Just sell it quickly!"

The customer's face contorted in fury as he shouted, but the staff member was helpless. Without any buy orders, there was nothing he could do.

At the next desk, a similar situation was unfolding, with a customer lunging at a staff member's collar, leading to a scuffle that had to be broken up by security and staff.

The trading floor was descending into utter chaos, with shouts and scuffles breaking out all around.

As panic gripped the room and sell orders flooded in with no buyers to take them, the stock index plummeted uncontrollably.

By the end of the day, the KOSPI had dropped a staggering 32.37 points, or 4.46%, closing at 693.57—breaking below the 700-point mark.

A total of 917 stocks hit their lower limits, marking one of the worst trading days in history.

TL/n - 

When South Korea introduced the Real Name Financial System in 1993, it caused significant market turbulence. On the first day of its implementation, over 300 stocks hit their lower limit. This was due to the sudden increase in transparency and the crackdown on anonymous financial transactions, which led to a sharp market reaction.