When lunchtime came, the female employees' lounge tucked into one corner of the Daehung Securities building in Yeouido buzzed with chatter.
Along the walls, metal lockers allowed them to store personal belongings, and the modest space had nothing more than a cloth-covered sofa and a table, with not a single window.
Still, it was one of the few places where the women could gather comfortably, away from prying eyes, and relax.
"Ah, seriously! Did Choi have a fight with his wife yesterday or something? He made us revise the documents five times!"
Saying this with a huff, Kim Soona from the Management Support Team drew a small laugh from Park Hyojin, who was sitting across from her, opening a face pack and checking her reflection in the mirror.
"Choi? He got chewed out by the department head this morning. So just let it slide."
"Ugh. Am I some kind of punching bag for his frustrations?"
Kim Soona shivered and shot a look of annoyance.
"Did you watch Sunpoong Obstetrics yesterday? The director was so funny."
"Right? I laughed so hard my stomach hurt."
"Even Midaal is such a troublemaker, but you can't help liking him."
"That's how kids that age are. My nephew's exactly like Midaal."
Around them, the conversation flowed nonstop, from sitcoms to celebrity gossip.
Though they wore office uniforms instead of school uniforms, the scene was no different from a typical high school lunchtime.
"Isn't this lipstick shade so bright and pretty?"
Shin Younghee from Investment Team 1 was reapplying her lipstick over lunch and spoke up proudly.
Park Hyojin, sitting next to her, examined it closely before responding.
"Yeah, it's perfect. Not too dark, really pretty. What shade is it? I should get one too."
"It's a new release. I heard it's really popular these days."
Shin Younghee smiled as she showed off the new lipstick she had bought over the weekend.
Then her eyes widened when she noticed an unfamiliar ring on Park Hyojin's left ring finger as she inspected the lipstick.
"Oh my! I haven't seen that ring before. What is it?"
"Uh…"
Park Hyojin hesitated with an awkward expression, and the nearby women immediately gathered around when they heard the word "ring."
"It's real!"
"That's not cubic zirconia, is it? It's a real gemstone, right?"
"Did your boyfriend propose?"
"No way. So this is an engagement ring?"
"Eeee!"
Amid the commotion, Park Hyojin nodded shyly, her face flushed with embarrassment.
"Yeah."
The women erupted with excited congratulations and questions.
"Congratulations!"
"Wow, I'm so jealous."
"Senpai, when's the wedding?"
Park Hyojin blushed and answered each question one by one.
"I think we'll get married around autumn."
"A November bride, huh? That's wonderful."
"And where are you planning to go for your honeymoon?"
"We'll figure that out little by little from now on."
Shin Younghee, sitting beside her, clasped her hands together, her eyes sparkling.
"I'm so jealous. I want to get married soon too."
"Well, first you need to get a boyfriend."
Kim Soona, a colleague sitting across from her, teased playfully, and Shin Younghee shot her a sharp look.
"Tch. No matter what, I'm not spending this Christmas alone, just wait and see."
"Ha ha ha!"
"Wow, your determination is impressive."
"Go for it, Younghee!"
The women around them giggled and cheered, celebrating as if it were their own news.
Even as she smiled, Park Hyojin felt a pang of bittersweetness.
The thought that she would have to leave the company she had worked at for over six years once she got married left her with a mix of regret and lingering attachment.
Of course, there wasn't a rule that women had to quit after getting married.
But once they had children, continuing to work became difficult, so the atmosphere naturally leaned that way.
So Park Hyojin had resolved that she would leave the company when she got married, no matter how reluctant she felt.
Having worked hard to earn her position as a senior associate, the thought of giving all of that up left her feeling unsettled.
At that moment, the lounge door swung open, and a woman with a name tag reading Lee Dayeon came rushing in, panting heavily.
"Big news! Big news! Did everyone see the announcement on the bulletin board?"
Lee Dayeon exclaimed, her face flushed with excitement as she struggled to catch her breath.
"What is it? What happened?"
"Why are you making such a fuss?"
Park Hyojin and the other women looked at her with puzzled expressions.
"Starting today, the company is implementing a new employee welfare program."
Everyone blinked in surprise, clearly caught off guard.
"What are you talking about all of a sudden?"
"Come on, just listen first."
Taking a deep breath, Lee Dayeon excitedly explained the details.
"First, if you get married, you receive a congratulatory gift of five million won. They'll also give a million won to help with your honeymoon expenses."
"Oh my! Really?"
Kim Soona lifted her head in astonishment.
Park Hyojin, who was soon to be married, perked up her ears along with the others.
"That's nothing," Lee Dayeon continued.
"Is there more?"
"Come on, tell us quickly."
Shin Younghee and Kim Soona urged her in turn.
"They're going to create an in-house daycare and, if any male or female employee has a child, the company will give one year of paid maternity or paternity leave."
Park Hyojin and the other women gasped in amazement.
"Seriously?"
"One full year of paid leave? Is that even possible?"
Park Hyojin's eyes sparkled with excitement. Offering a full year of paid parental leave for both male and female employees meant she wouldn't have to quit the company after getting married.
"Do you know what's even more amazing?"
"Another benefit?"
Leaning forward, Park Hyojin asked eagerly.
Lee Dayeon grinned, enjoying the rapt attention, and built up the suspense.
"You're going to be shocked when you hear this. The last one is incredible. I couldn't believe it when I read it."
"Oh my gosh, I can't wait! Tell us!"
Impatient Kim Soona urged her on.
"If you have your first child, the company gives twenty million won. The second child gets forty million, and the third child sixty million as a childbirth congratulatory gift!"
Everyone murmured in astonishment.
"They actually give twenty million just for having a child?"
"And sixty million for the third?"
Twenty million won was roughly equivalent to the annual salary of a new graduate at a major corporation, so their astonishment was understandable.
"Are they really giving that much money?"
Park Hyojin's eyes sparkled as she asked, and Lee Dayeon nodded.
"Yes, that's what it says on the company bulletin. It's all clearly posted there."
"Wow. So if you have just two kids, you could practically buy an apartment right away."
"To think this is a company welfare program. No one would believe it."
"Who on earth came up with this idea?"
In response, Shin Younghee spoke up.
"It's not a small expense, so the executives probably didn't suggest it. That leaves only one person."
"Who?"
Kim Soona tilted her head, curious.
"Who else? The chairman's second son."
"Oh! That makes sense if it's President Park Seok-won."
The other women around them nodded in agreement.
Although the company's subsidiaries weren't officially split yet, the equity had already been sorted out, meaning Seok-won effectively owned Daehung Venture Capital and Securities.
A bold welfare program like this, requiring substantial ongoing costs, could only be approved by Seok-won, who was effectively the owner.
Recalling Seok-won's forward-thinking approach and the way he looked after his staff when he worked at Daehung Securities, the women were certain this initiative came from him.
"The president is amazing, isn't he?"
"Exactly. Handsome and brilliant. He really is the best."
"When he was here, it actually made working enjoyable."
The female employees spoke in unison, praising Seok-won.
He was the only person in the company who commanded such overwhelming support from the women.
Shin Younghee from Investment Team 1 turned to Park Hyojin, a mischievous smile tugging at her lips.
"Senpai, you're going to have to put in a lot of effort on your honeymoon."
"What effort?"
"You'll want to get pregnant quickly so you can receive that childbirth bonus."
"You little—!"
Park Hyojin blushed and playfully smacked her arm.
"Ho ho ho. Seriously, senpai, I think you should do just that."
"Did you hear? Twenty million won!"
"And if you have twins at once, that's sixty million!"
"Oh my… that's true."
Listening to the teasing around her, Park Hyojin thought to herself.
Originally, she had planned to take her time before having children after marriage, but having them a little earlier didn't seem like a bad idea.
'They say it's better for the child if you give birth while you're still a bit younger.'
The worry she had quietly carried about leaving the company after marriage vanished, and she was able to laugh happily with the other women.
The new employee welfare program was applied not only at Daehung Securities but also at Daehung Venture Capital and WB Bank, earning widespread approval from both male and female employees.
***
June 15, 1998
The fund management office at Daehung Venture Capital was steeped in a tense atmosphere from the very morning.
The yen, which had been on a steady decline since last year, had surpassed 140 yen and was now pushing past 145 yen.
"Damn it! The yen has crossed 145."
[USD/JPY: 145.07 (1.79)]
Assistant Manager Jung Hwan-yeop's words drew the attention of Choi Ho-gun, who had his shirt sleeves rolled up and arms crossed, and spoke in a firm voice.
"How's the KOSPI doing?"
Sitting at his desk and staring at the monitor, Yoo Seok-hyun replied,
"It's broken through the 300-point level and keeps plummeting."
"Ugh… dropping more than 20 points at once—it's falling brutally,"
Following Jung Hwan-yeop, Hong Jae-hee also looked at Choi with a grave expression.
"The won exchange rate is also climbing and is about to surpass 1,400."
"The accounts that used credit are getting liquidated in this crash, and the flood of sell orders is deepening the losses—it's complete chaos."
"Are we going to break the 200-point mark too?"
Frowning, Choi glared at Jung Hwan-yeop.
"Don't be so unlucky with your words. Say that and the stock market really will collapse."
"I'm just worried, that's all. One thing is certain: once again, thanks to the president, we made it through. If we hadn't already closed our positions, we would have taken a huge loss."
The other team members nodded in agreement.
Especially Yoo Seok-hyun and Hong Jae-hee, who had been trading aggressively with their allocated funds, must have been drenched in cold sweat thinking about holding onto stocks they hadn't sold yet as the market crashed.
"The yen is bad enough, but is this going to trigger another foreign exchange crisis?"
Hong Jae-hee asked anxiously. Choi didn't answer. Instead, he pulled a cigarette from his pocket, put it in his mouth, and lit it with a lighter.
He wanted to confidently reassure them that such a crisis wouldn't happen, but with the yen falling so sharply and the won exchange rate skyrocketing, he couldn't.
Jung Hwan-yeop scratched his head with one hand and muttered to himself.
"Fortunately, we dodged a downpour, but watching the market completely collapse isn't exactly comforting."
Choi Ho-gun, his face heavy, remained silent, smoking his cigarette.
At that moment, the phone rang, and No Hee-won, who had been sitting quietly in a corner, quickly picked it up.
"Yes, this is Noh Hee-won from the Fund Management Department."
As usual, she answered professionally, but soon her expression turned startled, and she adopted a more formal tone.
"Ah, yes. I'll transfer the call right away."
She covered the lower part of the receiver with her hand and whispered to Choi.
"It's the president."
Choi quickly stubbed out his cigarette in the ashtray and hurried over to take the receiver.
"The call has been transferred."
[You're watching the stock index, right?]
"Of course."
[Use the cash you have to buy back the stocks we sold last time.]
Choi's eyes widened in shock at the unexpected instruction.
"Y-you mean now?"
[Yes. It's hit the bottom, so it's time to pick them up.]
At a time when fear of further collapse dominated the market and soaring exchange rates were forcing everyone to dump their stocks, Choi couldn't hide his bewilderment at the directive to buy instead.
[Did you understand me?]
"Ah, yes. Understood."
Regaining his composure, Choi ended the call and put down the receiver.
Jung Hwan-yeop, unable to contain his curiosity, immediately asked,
"What did the president say?"
Choi swallowed hard without answering and lifted his eyes to the large market display board mounted on the opposite wall.
[KOSPI: 299.89 (?42.41)]
No matter how he looked at it, it felt like trying to catch a falling knife, but Choi Ho-gun clenched his lower lip and issued orders to his team.
"From now on, buy back all the stocks we sold."
"Pardon?"
"You mean now?"
Though everyone wore bewildered expressions, Choi deliberately raised his voice sternly.
"Yes. The president's orders—move quickly!"
Hearing that it was the president's directive, the team hesitated, thinking it might be too hasty, but they instinctively replied.
"Ah, yes!"
"Understood."
They returned to their desks and began buying the crashed stocks.
Watching his team focus immediately on their work, Choi felt his mouth go dry.
"If this really is the bottom, then fine… but if it's only the knee and not the floor…"
The mere thought made his heart drop.
Choi, his face anxious, turned his gaze back to the stock index on the large display board and put a cigarette in his mouth.