Golden Spoon Investment Portfolio - Chapter 261

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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261. I appreciate the offer, but I’ll just accept your goodwill.

After the meeting ended a short while later and everyone had left the room, Chairman Park Tae-hong sat alone on the sofa, smoking a cigarette while calmly reading through the documents containing the announcement to be made publicly at noon.
Just then, Jung Yun-kyung knocked and entered, asking a question.

“Chairman Kwak Dong-hun from Saseong Group is calling. What should I do?”
“Chairman Kwak?”

Chairman Park Tae-hong lifted his head with a puzzled expression, his eyes leaving the documents.

“Put him through right away.”
“Understood.”

Shortly after, when the keyphone on the side table next to the sofa rang, Chairman Park Tae-hong picked up the receiver.

“Hello.”
[Chairman Park. It’s me. I was quite disappointed that you didn’t attend the Federation of Korean Industries luncheon meeting a few days ago.]

Although Saseong Group ranked higher in the business community, since Chairman Kwak Dong-hun was over ten years younger, Chairman Park Tae-hong spoke to him casually.

“I’m sure you understand, but I had to skip it due to company matters. I hope you’ll forgive me.”
[That’s actually why I’m calling.]

Chairman Park Tae-hong furrowed his brow slightly while holding the receiver to his ear.

“What do you mean by that?”

Then Chairman Kwak Dong-hun brought up the matter in a serious tone.

[Everyone in the business community is extremely concerned about Donghae Group’s actions in breaking the unspoken agreement we’ve maintained all this time.]
“….”
[If we tolerate this kind of rule-breaking, reckless hostile M&As targeting management rights will occur in the future, and the order of the business community will collapse.]

Chairman Park Tae-hong readily agreed with the attitude criticizing Chairman Woo Yong-gap and Donghae Group, who had openly attempted a hostile M&A.

“That’s exactly what I’m saying. We absolutely cannot allow Donghae Group, which acted so cowardly, to achieve their goals.”
[So this morning, a statement will be released in the name of the Federation of Korean Industries strongly urging an immediate halt to this hostile M&A.]

Chairman Woo Yong-gap and the Donghae Group were already braced for criticism and charging forward, so they wouldn’t bat an eye at such measures.
Still, it helped somewhat to have the Federation of Korean Industries lend vocal support rather than simply standing by and watching.

“I appreciate it.”

Chairman Park Tae-hong expressed his gratitude sincerely.

[But if Chairman Yu thought a statement from the Federation would make them stop, you wouldn’t have initiated this in the first place.]
“…?”
[That’s why Chairman Jung of Hyunwoo Group and the Federation’s board of chairmen have reached a consensus to provide financial support necessary for defending management rights.]

Chairman Park Tae-hong was startled by this unexpected proposal and asked again.

“You’re offering financial support?”
[Yes. As the first phase, we’ll immediately provide fifty billion won in the form of warrant bonds, and if needed, we’re prepared to push an additional equal amount.]

Chairman Park Tae-hong, who had been delighted at the prospect of borrowing such a massive sum, frowned when he heard the conditions attached.
Warrant bonds—which earned interest and could be repaid either as stock at an agreed price upon maturity or simply as principal repayment—were contracts that heavily favored the creditor.

‘These cunning foxes at the Federation—what kind of people are they? They’d never help without getting something in return.’

Chairman Park Tae-hong felt the warmth of his initial joy cool considerably, and he muttered inwardly.
Had he not possessed a capable second son, he might have accepted the proposal despite recognizing how unfavorable the terms were, grateful for any help.
But with a plan for a last-minute reversal and sufficient funds already prepared, there was no need for that.

[Will you accept the proposal?]
“Your goodwill is appreciated, but our group has sufficient strength to resolve this situation on our own, so I’ll simply accept your kind intentions.”

Chairman Park Tae-hong declined firmly without the slightest hesitation.
Even without the rumors circulating through the Securities District, everyone knew that the Daeheung Group’s financial situation was precarious.
So Chairman Kwak Dong-hun, who naturally expected the proposal to be accepted, showed clear signs of bewilderment at this unexpected response.

[You’re saying you don’t need assistance?]

Watching Kwak Dong-hun flounder—having expected to see Park Tae-hong eagerly accept unfavorable terms—Chairman Park Tae-hong felt a small surge of satisfaction.

“That’s right.”

It was Kwak Dong-hun who fumbled at the composed tone of voice.

[Today is the deadline for the public acquisition offer that Donghae Group presented. Surely you’re not planning to give up Midopa Department Store just like this?]
“The department store is a core subsidiary of our group. How could we possibly do that?”

Chairman Park Tae-hong leaned back against the sofa with an unhurried ease.
Meanwhile, Chairman Kwak Dong-hun, unable to comprehend the situation, pressed further with quickened speech.

[But are you saying you don’t need financial support?]
“Ha ha.”

Chairman Park Tae-hong laughed, flashing white teeth.

“I’m not sure what people outside think, but our group isn’t so fragile that we’d crumble under an attack of this magnitude.”

As Chairman Kwak Dong-hun fell silent, Chairman Park Tae-hong lifted the corners of his mouth with meaningful intent.

“I can’t reveal the details, but you’ll understand what I mean soon enough.”

There wasn’t a single clue as to what he intended to do or how.
Yet since he said it wasn’t necessary, Chairman Kwak Dong-hun couldn’t very well force money upon him, so he let out a reluctant sigh.

[Well then, I understand. If you change your mind later, do contact me anytime.]
“Of course. Once everything is settled, let’s grab a meal together.”

Today was the very deadline for the public acquisition offer, yet the man who should have been under immense pressure was behaving far too calmly, leaving only questions in his wake.

[…Yes, of course.]

Chairman Kwak Dong-hun, responding reluctantly until the very end, soon hung up the phone.
As Chairman Park Tae-hong set down the receiver, he gazed at the documents he’d placed on the table during the call, a smile playing at his lips.

“Heh heh heh. Once the disclosure goes up in a little while, everyone will be turned on their heads.”

* * *

Gangnam Daeheung Venture Capital.
After finishing the meeting and returning from headquarters, Seok-won bypassed the President’s Office and headed straight to the Capital Operations Department.
As he and his Attendant Secretary Han Ji-sung stepped inside, he could see everyone moving busily, accumulating shares of Donghae Oil.

Ring! Ring!
“Donghae Oil at 29,500 won, buying 3,500 shares!”
“Okay, deal!”

Choi Ho-geun, his white dress shirt sleeves rolled up, stood behind the trading floor with his arms crossed, his sharp eyes gleaming as he watched the transaction intently before speaking in a loud voice.

“How many shares have we bought so far?”

Jung Hwan-yeop, who had already loosened his suffocating necktie, answered without even turning around.

“We’ve purchased just over 100,000 shares!”

Yu Seok-hyun, sitting at a computer, then set down his receiver and spoke.

“I’ve got approximately 56,000 shares.”
“The stock’s already risen over 1,000 won because we keep sweeping up the supply. Should we pause for a moment and let some air out of it?”

Jung Hwan-yeop asked without taking his eyes off the monitor.
Even as he spoke, his hands moved nimbly to place another purchase order, and despite his usual reputation for slacking off and being light as a feather, his actual skill was undeniable.

[Donghae Oil 29,760 ▲ 1,320]

Choi Ho-geun gazed at the stock price displayed on the large ticker board installed on one wall, deliberating on what to do.
At that moment, Seok-won’s weighty voice came from behind.

“Once the announcement comes out, the stock price will skyrocket. Don’t stop—buy as much volume as possible before then.”

Choi Ho-geun turned his body around and, seeing Seok-won, quickly bowed his head in alarm.

“You’ve arrived.”

Seok-won stepped forward in front of Choi Ho-geun and asked.

“How’s the market sentiment?”
“There haven’t been any major movements yet, but as you can see, as we sweep up nearly all the selling and the Donghae Oil stock price rises significantly, some players are beginning to sense something suspicious.”

Seok-won, dressed in a refined gray suit, nodded slightly.

“Since this stock didn’t normally have much trading volume, the sudden spike in transaction volume will make them even more suspicious.”

Choi Ho-geun immediately added to what I’d said.

“Moreover, since this stock is entangled with M&A issues, astute players are already catching wind of something and placing buy orders.”

Seok-won shrugged as if he’d already anticipated this.

“Large-scale accumulation is happening. If the market failed to sense it, that would be the strange part.”
“That’s true.”

Even someone like Choi Ho-geun would have jumped on such a stock without hesitation and started trading.

“What about Midopa’s stock price?”

Choi Ho-geun answered my question immediately.

“It broke slightly above 70,000 won per share, but after rumors spread that our group’s finances were in trouble, it’s been declining steadily. Today it’s fluctuating around 70,100 won.”
“That’s exactly the public acquisition price Donghae Group set.”
“Since today is the deadline and we haven’t raised our price further, it seems the sentiment is leaning toward accepting Donghae Group’s public acquisition.”

It was natural psychology for uninformed retail investors.

“If the other side secures all the shares they need through this public acquisition, the stock price that surged so much will collapse in the opposite direction, so they’ll want to sell before that happens.”
“I’d do the same.”
“Right now the other side is gloating, but soon the Midopa Department Store shares they bought at such a high price will become a white elephant.”

Choi Ho-geun, who knew what I was planning, drew a faint smile at the corners of his mouth.

“Once the announcement goes up soon, securities company employees and retail investors in Yeouido won’t be able to eat lunch properly today.”
“That’s for sure.”

I met his gaze and laughed together with him.
Once the announcement came that Midopa Department Store had transferred all its textile holdings elsewhere, followed by the announcement of Donghae Oil share accumulation, the market would be turned upside down—it was as clear as day.
With the situation developing so rapidly, there was no way anyone would have the leisure to leave the office or trading floor and grab lunch.
The same went for the fund management team.
I suddenly remembered and called out to Han Ji-sung standing behind me.

“Have everyone share what you brought.”
“Understood.”

Attendant Secretary Han Ji-sung set down the plastic bags he’d been carrying onto the conference table positioned at one side of the office.

“What’s that?”
“It seemed difficult to leave during lunch hour, so I picked up bento boxes from a Japanese restaurant.”

Choi Ho-geun’s expression softened with gratitude at such thoughtful consideration for even the smallest details.

“Thank you for looking after our lunch as well.”

As if the timing had been perfectly orchestrated, noon arrived precisely on schedule, and the trading floor entered its lunch break.
Jung Hwan-yeop, who had been working diligently while catching every word of the conversation behind him, quickly approached and gave a double thumbs-up.

“Wow. Only the president could do something like this.”

Yu Seok-hyun and Hong Jae-hee were equally moved by Seok-won’s bento gift.

“I was actually wondering how to manage lunch, so thank you.”
“I’m sure you’re the only one who would be so considerate.”

With everyone gathered, Jung Hwan-yeop was the first to tear open the plastic and retrieve the bento box inside.

“Wow! Isn’t this expensive eel rice bowl?”
“Since it’s good for stamina, I chose that so you’d eat well and stay energized.”

Jung Hwan-yeop picked up a large, thick piece of grilled eel with his chopsticks, popped it into his mouth, and spoke while savoring it.

“Oh! The taste is incredible. It’s absolutely delicious.”

Seeing him laugh with delight, Director Choi Ho-geun let out a groan and pressed his forehead with his hand.

“That guy… again…”

Meanwhile, Seok-won smiled with the satisfied expression of someone pleased to see others enjoying their meal.

“I’m glad it tastes good.”
“Please join us, President.”
“No, I shouldn’t. If I’m there, you might all feel uncomfortable eating. Just enjoy it among yourselves.”

Looking around, I noticed that only Choi Ho-geun was fidgeting nervously, while Yu Seok-hyun and Hong Jae-hee had already popped open their lunch boxes and were eating with gusto.
Being near Jung Hwan-yeop, the other two seemed to have caught his shamelessness as well.
Choi Ho-geun was sinking into self-recrimination, wondering if he’d failed to educate his subordinates properly, when suddenly a notification chimed from the computer.

“What is it?”
“I’ll check right away.”

Yu Seok-hyun jumped up and checked the computer, then spoke while looking at Seok-won.

“A disclosure notice just went up from Midopa Department Store.”
“Is that so.”

Seok-won’s expression shifted, and he pulled up one corner of his mouth.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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