An Investor Who Sees The Future

A single statement from Kang Jin-hoo caused a bank run, leading to the suspension of operations for Hoseong Savings Bank.

Depositors were anxious about their savings while those not directly affected watched the situation unfold as bystanders.

– LOL, it’s round two: The President vs. Otaku.

– Was the approach to deposit 200 billion won just bait?

– It’s a fake, you idiots!

– But why was Hoseong Savings Bank’s instability pointed out?

– Because the President’s in-laws are connected. His son-in-law is a senior executive there.

– It seems like they’re gearing up for a serious showdown.

– This is really exciting!

– But is there any evidence for this?

– You think they would say something without any basis? That would be a real issue.

– Why? They could have bought put options.

– Personally, I dislike Kang Jin-hoo, but when it comes to money, I think it’s best to follow his words.

– Kang Jin-hoo seems like a fraud to me. I doubt the company will last a few years before it goes bankrupt and he gets arrested.

– Of course, it’s the likes of him who will rush in to buy the stocks he recommends first.

– LOL, I agree.

The area where Hoseong Savings Bank’s headquarters is located is predominantly represented by the Korean Party, including the mayor, district head, and governor, along with city and district councilors who are mostly from the same party.

Out of 12 National Assembly seats, 9 belong to the Korean Party, with the remaining 3 occupied by independents who lost with Korean Party nominations.

If Hoseong Savings Bank were to go bankrupt due to its instability, the repercussions would be unimaginable.

For this reason, politicians including the President, Prime Minister, Deputy Prime Minister of Economy, National Assembly members, and local councilors all rallied together to reassure the public that Hoseong Savings Bank is safe, calming the local sentiment.

***

Kim Soon-rye ran a small restaurant in a corner of the market.

Every day, rain or shine, she worked tirelessly from early morning until late at night. With the money she earned, she successfully raised and married off her five children. Even when the IMF crisis hit and her husband lost all his investments in the stock market, leaving them in debt, she worked hard, paid it all off, and managed to save.

However, due to her age, her body was increasingly tiring. She didn’t know how long she could keep working.

Her remaining wish was to live without relying on her children until her death.

Fortunately, she had managed to save a little money, enough to ensure their comfortable retirement.

But one day, all of a sudden, Kang Jin-ho pointed out issues with Hoseong Savings Bank and urged people to withdraw their deposits.

When the news broke, the market was thrown into chaos. Most merchants had deposited their daily earnings in Hoseong Savings Bank.

Kim Soon-rye, along with the other merchants, rushed to the bank early in the morning. However, a crowd had already formed outside the branch.

They desperately tried to retrieve their money, but the bank, having opened less than an hour ago, had already ceased operations. The merchants, abandoning their businesses, anxiously paced back and forth.

“If the bank collapses, we’ll lose all our money.”

“Don’t say such unlucky things!”

“No, I’m just worried, okay?”

While they were worried about what might happen, thankfully, the president and politicians stepped in, stating that everything would be fine.

Thanks to that, the tense atmosphere began to calm down.

At the headquarters, branch manager Park Jun-sang, following orders to distribute numbers to customers for a return, came outside with the staff.

He spoke into a megaphone.

“You all heard the government’s announcement. Kang Jin-ho spread malicious rumors, and we’ve only closed for a short while. We will reopen soon, so there’s no need to worry. We’ll start distributing numbers now, and when we reopen, we’ll assist you in order based on your number. So please take one and go back.”

In a situation where they didn’t know when the bank would open, sitting and waiting blindly wasn’t an option. Though there was a bit of commotion over the numbering, people took the numbers.

Kim Soon-rye grasped the hand of Ha Eun-ji, who was distributing the numbers.

“Eun-ji, is my money okay? That’s my entire fortune. Without it, both me and the old man will die.”

Ha Eun-ji forced a bright smile.

“It’ll be resolved in just a few days. The president and politicians all say it’s fine.”

At her words, Kim Soon-rye nodded vigorously.

“You’re right. Our president is the most esteemed person in the country, isn’t he? If someone like him says it’s okay, then it must really be okay.”

“Absolutely. There’s no need for you to worry.”

However, Kim Soon-rye couldn’t easily shake off her anxiety.

“So, we don’t need to worry about that guy Kang Jin-hoo, right?”

An elderly man nearby shouted as if to emphasize his point.

“That kid is a total fraud. He makes people anxious with his nonsense and then tries to swindle them out of their money!”

Everyone around chimed in agreement.

“He’s just a malicious bastard.”

“They say he’s been doing this to make money for years.”

“Think about it logically. Would the president let a savings bank run by his in-laws fail?”

“Exactly! Isn’t Hoseong Savings Bank the second-largest bank in Korea? Does it even make sense for such a big bank to go under?”

“That nasty guy is just spreading rumors!”

The crowd uniformly condemned Kang Jin-hoo rather than the bank.

The people gathered knew they would be affected if Hoseong Savings Bank went bankrupt. Therefore, the president had to be right and Kang Jin-hoo had to be wrong.

It was more of a hope than a belief.

Regardless, as the crowd spoke with one voice, Kim Soon-rye felt somewhat reassured.

Park Jun-sang casually said, “I heard Kang Jin-hoo is coming to the prosecutor’s office for questioning tomorrow.”

One of the market merchants raised his hand and shouted,

“We shouldn’t just stand here; let’s go see that guy’s face!”

At his words, the people unanimously agreed.

“Sounds good! Let’s go!”

***

How often does a person need to go to the prosecutor’s office in their lifetime?

This time, it wasn’t the Seoul Central District Prosecutors’ Office but the local district prosecutor’s office instead.

So, I had to drive down to be questioned as a suspect. Even though I could go alone, Taek-gyu insisted on coming with me.

On the way, I called my mother, knowing she would be worried.

[Why did you go and make trouble by saying unnecessary things again?]

“Mom, it’s not like that….”

[If you just stayed quiet, nothing would happen. What did you inherit that from…?]

After a round of nagging, my mother asked in a concerned voice,

[This time, you’re not really getting arrested, right?]

“Of course not. I’m just being questioned.”

[Just know that if you get arrested this time, I’m going to collapse.]

“I got it. Don’t worry.”

After trying to reassure her as much as I could, I hung up.

Taek-gyu asked, “So, are you really okay without a lawyer? Shouldn’t you be gathering a team of elite lawyers like the chaebol presidents?”

“Well, it’s not that serious.”

It’s just that those people have a lot to hide. I have nothing to be ashamed of.

As we neared the prosecutor’s office, Taek-gyu said, “Looks like your arrival has been made public. Check out that crowd welcoming us.”

In front of the prosecutor’s office, dozens of people had gathered as if in protest, with police controlling the surroundings.

“The banner says, ‘Arrest financial fraudster Kang Jin-ho.’”

“…….”

What the heck did I do wrong?

The gathered people are mostly elderly individuals in their 50s and above. They are likely all depositors from Hoseong Savings Bank.

I can fully understand their feelings.

If I heard that the bank where I put my money had closed, I would feel the same way.

“Lower the window and wave once.”

“…Wouldn’t I get beaten up for that?”

As I approached the main entrance, I could hear the shouts.

“Punish the speculator, Kang Jin-ho!”

“Punish him!”

“Arrest the fraudster, Kang Jin-ho!”

“Arrest him!”

The car drove into the prosecutor’s office.

At the entrance of the building, a photo line was set up, and reporters were waiting with cameras and microphones.

“Have a good trip.”

“I’ll see you later.”

I got out of the car and stood in front of the photo line.

Click! Click!

The camera shutters clicked rapidly, and reporters bombarded me with questions.

“How are you feeling right now?”

“Do you admit the charges?”

“For what purpose did you make those statements?”

I let out a sigh inwardly.

My face is going to be plastered all over the news again today. Jin-Kyung is probably watching this too, right?

I looked at the cameras and delivered the words I had prepared.

“I will sincerely participate in the prosecutor’s investigation.”

Just as I was about to enter, a reporter shouted.

“Don’t you feel any remorse for the victims? At least say a word of apology before entering!”

It was none other than a reporter from Joongilbo.

I stared at him sharply.

“Why should I apologize? I feel sorry for the people affected by this incident, but the responsibility lies with the management of Hoseong Savings Bank, who concealed their insolvency through cooking the books, and the regulatory agencies that failed to supervise them properly. They are the ones who should be apologizing.”

***

The prosecutor holds the power of life and death over the accused (the power to indict). Therefore, whether guilty or innocent, one tends to feel apprehensive when coming to the prosecution.

Moreover, just like the saying that even a mutt can feel at home in its own territory, the prosecution office is the prosecutor’s turf. Conversely, it feels foreign to someone who is visiting for the first time.

However, I had already been arrested once before, so perhaps that’s why I didn’t feel particularly tense. Instead, I felt more annoyed.

Why do I have to be here doing this?

I was escorted to the interrogation room.

The prosecutor’s name was Yang Seon-ho, a young man in his early thirties.

“Please have a seat.”

“Yes.”

I sat comfortably in the chair, but then an investigator in his late forties with a receding hairline snapped at me.

“Don’t cross your legs! What are you doing, acting disrespectfully in front of the prosecutor?”

I hadn’t intended to be arrogant, but it seems I had unconsciously crossed my legs. I could uncross them easily, but his commanding tone really bothered me.

I asked him, “Is there a law that says I can’t cross my legs in front of a prosecutor?”

“What, what did you say?”

“It seems like there’s some misunderstanding. I’m not a criminal or a suspect; I’m a regular person here to be questioned. Don’t you know about the presumption of innocence? Just because I’ve been accused, taking time out of my busy schedule to come here for questioning feels like I’m fulfilling my role.”

The investigator looked astonished.

How many sane individuals would act this way if they weren’t a serious criminal?

Prosecutor Yang Seon-ho waved his hand.

“It’s alright, investigator. I’ll handle this, so please take a seat.”

“Understood.”

The investigator returned to his seat, still wearing a discontented expression.

“Did you bring your ID?”

“Yes.”

After verifying his identity, the formal investigation began.

The usual, expected questions followed, based on the six fundamental questions.

“Why did you make that statement?”

“It’s as I said. I was analyzing data to make a deposit, and I suspected large-scale financial issues were being hidden through accounting fraud.”

“Do you have clear evidence?”

“There should be more money going out than is coming in; if the numbers don’t add up, isn’t it natural to suspect manipulation?”

“So it’s just a suspicion, then.”

“It’s a reasonable suspicion.”

“Then, did you realize your statement could lead to a bank run?”

It would have been better to say I didn’t know…

But I nodded.

“Yes. I was aware.”

A glimmer of surprise appeared on his face.

“So you made that statement knowing that?”

“Anyway, Hoseong Savings Bank is going to go bankrupt, and they won’t be able to return all the deposit money. In the meantime, each branch is happily taking long-term deposits and aggressively selling subordinated bonds. It’s better if it collapses now; at least that way, we can minimize the damage. Shouldn’t we at least prevent further harm?”

“If it’s proven to be false information, you will be punished.”

I nodded confidently.

“It’s only natural to be punished for spreading false information that led to the suspension of a perfectly good savings bank. I’m prepared for that much. But what happens if I’m right?”

Those who took people’s money and provided bad loans, the ones who manipulated the books to cover it up, those who turned a blind eye while profiting, and so on.

They won’t be able to escape responsibility.

Of course, neither will Park Si-hyeong.