Chapter 242: No Thoughts of Compromise

After securing control of Il-seong Materials, Eva launched a major overhaul to fully seize the company.

She also participated in the shareholders’ meeting, showcasing her opposition to the Il-seong Group by opposing every proposal from Seo Yong-geon to shake them up.

At that moment, a call came from the U.S.

Not from Japan, but from the U.S.

— Charlie. Do you find our words amusing?

“What do you mean?”

— Didn’t I tell you to let it go quietly? But you went ahead and attacked Japan, even involving Russia.

“I didn’t respond. And it’s not me moving Russia. It’s simply a dispute between Russia and Japan.”

Rumsfeld’s voice rose in pitch.

— Charlie. In a month, Bush will become the President of the U.S. Do you think such wordplay will work on me?

“I only asked for those involved in Eva’s attack to be handed over. Japan refused that. I’ve done all I could.”

The ongoing attacks on the Japanese economy had severely impacted Japan, but it also took a toll on me.

However, I had no intention of stopping.

Even if I lost everything.

— Charlie, your stubbornness is driving the entire Northeast Asia into economic crisis.

“My stubbornness? I simply set the stage. I’m taking significant losses, but the Americans on Wall Street are making a fortune.”

The hyenas on Wall Street, along with wolves from around the world, caught wind of the money scent and couldn’t ignore it.

I plunged into war with Japan knowing their greed would drive them.

— We clearly issued a warning. You ignored it. Prepare yourself.

A warning from the American neocons…

“Why are you solely sticking up for Japan? Han Gyeong-yeong has funded more political money than Japan.”

— Individuals and nations are different. Japan is the key ally in America’s Northeast Asia policy. If such a nation collapses, it will undoubtedly impact us here in the U.S.

“This time, I won’t yield.”

— Don’t regret it.

Rumsfeld abruptly ended the call.

Setting down the dead phone, I got up from my seat.

As I left my study and entered Han Gyeong-yeong’s room, he glanced at me while stretching.

“Tired?”

Han Gyeong-yeong lowered his arms from stretching and smiled.

“This is nothing, just a regular day.”

“How’s it going? Is it progressing well?”

His face was filled with a smile.

“The Japanese government should have no other way out now. Besides raising interest rates. But they can’t just raise them freely without America’s approval. It’s a deadlock.”

“So that’s why you received a call from the U.S.”

“You got a call from the U.S.?”

Han Gyeong-yeong looked surprised, making me chuckle.

“Yeah, Rumsfeld called.”

“Looks like the recent movements of the Russian troops might have triggered some displeasure in the Republican Party. There’s no way they don’t know that the U.S. got involved because of you.”

Han Gyeong-yeong slowly crossed his arms, becoming serious.

“They won’t move just yet. It seems they’ll tighten the reins on their attacks more. The U.S. is planning to cut interest rates following the Nasdaq crash, yet Japan is pursuing a high-rate policy? That’s impossible, you know that.”

“That may be true… but if the U.S. decides to help, who knows?”

“In this attack on the Japanese economy, the only ones suffering losses are us and Japan. Investors in the U.S. and banks on Wall Street are likely just feasting.”

No madman in the world would risk capital to shake the economy of Korea.

There are cases where a country’s economy has been ruined just for profit.

But there are hardly any instances where they dragged a country into a suicidal trap together.

Even during the East Asian currency crisis, the Russian economic crisis, or in South America.

Wall Street and global forex dealers raked in massive profits.

But a colossal prey like Japan had gained their attention.

For the U.S. administration, advocating free markets, they couldn’t act against their interests by force.

“Since we don’t yet know the Bush administration’s stance, we have to secure a surrender before the inauguration.”

“Hmm…”

Han Gyeong-yeong furrowed his brow and made a thoughtful noise while turning to the computer.

He checked his account statuses briefly and then spoke to me.

“I’ve already suffered astronomical losses.”

“It’s alright. If we can force Japan’s surrender and find out who was behind the attack on Eva, we can make up for that loss any time. So don’t feel bad about it.”

Han Gyeong-yeong let out a deep sigh.

“Okay. I’ll tighten the reins one last time.”

We briefly discussed our plans ahead.

“Then good luck. Once this is over, let’s go on a trip together.”

“Oh! I’m looking forward to it.”

* * *

In Japan, a meeting was taking place, gathering cabinet members, including the Prime Minister, to discuss the ongoing forex attack.

But despite their brainstorming, they found no solution.

If it were just Kim Mu-hyeok involved, they woul manage to defend somehow.

However, with Kim Mu-hyeok’s capital injected nto the attack, Japan had become a playground for forex dealers worldwide.

The forex attack was just beginning.

As if that wasn’t enough, large amounts of Japanese government bonds flooded the international bond market, and the Nikkei index, which was struggling to stabilize the Nasdaq crash, fell victim to short-sellers.

Astronomical public funds were poured in to prevent the chain bankruptcies of financial companies that had contracts with Future Investment and Nasdaq futures.

But now, even other banks were starting to stumble.

Like Korea three years ago, Japan found itself in a complete crisis.

The opposition party daily criticized the incompetence of the LDP cabinet, and internal attacks from other factions within the LDP began.

The small shot fired by Kim Mu-hyeok grew like an avalanhe, plunging Japan’s economy, politics, and society into chaos.

“So, aren’t we saying we should listen to their requests? What’s the meaning of all this unnecessary pride?”

“Are you seriously asking that right now?”

The Japanese cabinet had become a battlefield of various factions.

With everyone eager to blame one another, it was impossible to unify opinions.

“Enough! Enough!”

In a fit, the Prime Minister slammed his hand down on the table.

Only then did the Prime Minister’s office fall silent.

“I’m not calling for anyone to blame. I’m asking for solutions, solutions!”

The people fell silent, faces filled with dissatisfaction.

No matter how diminished his political standing might be, the Prime Minister’s authority was still immense.

“What does the U.S. say?”

“They said they can’t allow us to raise interest rates.”

“Hah…”

The Prime Minister sighed deeply at the foreign minister’s words.

“They subtly hinted that it might be better to grant their wishes. Although the Republicans contacted Dream High, they said they have no thoughts of compromise.”

The Prime Minister, who had previously worked on establishing ties with the Republican Party during tensions with the Clinton administration, felt discomfort in this situation. The LDP celebrated when Bush was elected.

But in a situation like this, neither the Democratic Party nor the Republican Party would lend a helping hand.

For them, the Americans, regard their interests as paramount.

There was no way that the U.S., seeking to implement interest rate cuts after the Nasdaq crash, would allow Japan’s high-rate policies.

The Prime Minister’s head throbbed with stress.

The finance minister, who had been discreetly observing, opened his mouth.

“If this continues, the economy will truly collapse. The share of dollars in our foreign reserves is decreasing gradually. Before long, we will face a significant crisis, like Korea did years ago.”

He was the new finance minister appointed to replace the former one, who had lost his position due to accountability for this situation.

“Many financial institutions are already on the brink of bankruptcy. There’s only one way: we must raise interest rates all at once, even if for a short period, like what Hong Kong did many years ago.”

“The U.S. won’t allow that.”

“If we keep appeasing the U.S., we’ll be doomed. If Japan goes under, it’s over.”

The Prime Minister was filled with profound self-loathing.

To be so humiliated over the actions of merely one Korean investor, what shame was this?

The Japanese economy, which he had believed would forever be robust, crumbled like a sandcastle faced with a wave, unable to stave off disaster.

“If we don’t stabilize this quickly, it will leave scars on the Japanese economy far worse than the bubble burst ten years ago. This is no longer an issue of pride. It’s a struggle for survival.”

The value of the yen, fluctuating wildly in ten-yen increments daily, was driving many investors away from Japan.

It was natural for investors from any country to avoid extreme currency fluctuations.

“Our blunder is simple; we trusted our economy too much and underestimated Dream High’s resolve. We never thought they would risk losses and drag us down with them.”

Most were unaware of the complete details. They simply understood that forex speculators had clashed, causing chaos with the yen as the targeted currency.

The Prime Minister, who had been sighing heavily, suddenly shouted.

“Only the Chief Cabinet Secretary stays, everyone else leave!”

He sent away all cabinet members except for the Chief Cabinet Secretary, who knew everything.

The office, bustling with noise and tears, fell silent.

“Chief Cabinet Secretary.”

“Yes, Prime Minister.”

“We have to surrender, don’t we?”

“Prime Minister…”

“There’s no other way. We can’t let Japan be ruined again just to protect the Yakuza. It’s only been half a century since Japan experienced the humiliation of the Pacific War.”

1945 brought significant humiliation to Japan.

But this time, Japan was poised to lose in an economic war rather than a military one.

“I underestimated President Kim Mu-hyeok’s power and influene. Plus, the forex speculators caught the scent of money and slithered into Japan.”

The Prime Minister, with his head held down, suddenly asked.

“Do you still think it was wrong for me to capitulate to Russia?”

“Yes, if Eva had been in Japan, we could have utilized her as a last resort. Securing her could have allowed for extreme negotiations. But refusing to surrender is no longer an option.”

The Chief Cabinet Secretary’s response left the Prime Minister looking despondent.

“…A war could’ve happened.”

“No, Prime Minister. A war will not occur. Neither the U.S. nor Russia had any intentions for conflict.”

The Prime Minister let out another deep sigh. Regardless of how often he sighed, the sense of suffocation weighed heavily on his chest.

“Isn’t this like spilled water? We have secured everyone involved in Eva’s terrorist act, right?”

“Yes, we have secured both the Deputy Minister of the Cabinet Information Office and all related Yakuza members.”

Finally, he clenched his eyes shut.

“…Contact Korea.”

“Prime Minister…”

“Once this is over, I plan to resign from my cabinet, disband the assembly, and hold new elections. Let them know and prepare for it.”

The most powerful authority the Prime Minister held was the authority to dissolve the assembly.

Sensing that his time was near its end, the Prime Minister prepared for one final struggle.