Golden Spoon Investment Portfolio - Chapter 265

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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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265. Did you draw up this entire picture in advance and move accordingly?

Saturday, April 13th.
Since only the morning session opened and the market closed, the Trading Floor typically grew quiet on Saturdays.
But today was different—investors had crowded in since early morning.
The reason lay in the newspaper headlines investors held in their hands or read while seated on the Trading Floor chairs.

[Daheung Group Counterattack! Donghae Oil Share Acquisition of 18% Revealed!]
[Donghae Group Files Preliminary Injunction Against Midopa Department Store to Prohibit Daheung Textile Share Sale]
[Donghae Group Acquires Additional 13.24% of Midopa Department Store Shares Through Public Tender Offer]
[Daheung Group’s Additional Donghae Oil Share Acquisition Hints at Reverse M&A]
[Business Community Concerned as Share Dispute Between Two Groups Escalates Into Mudslinging]
[Federation of Korean Industries Urges Daheung Group to Stop Aggressive Management Rights Seizure and Seek Amicable Resolution]

“Oh my! You’re all here.”

The Perm-haired Woman, who had made a tidy profit from the Midopa Department Store transaction and now carried a brand-new luxury handbag, spotted Lee Guk-sang—a man who was always glued to the terminal at the Trading Floor—and the Middle-aged Man, approaching them with a delighted expression.

“You both came in even though it’s Saturday.”

The Middle-aged Man, who had also made considerable gains from Midopa Department Store stock, burst into laughter.

“When a big game like this is afoot, what does the weekend matter?”
“Hehe. That’s right.”

Lee Guk-sang, now wearing a new suit instead of the brown jacket with the fruit shop’s name embroidered on it, chuckled and spoke.

“We need to make a big move this time too. Isn’t that why you came, ma’am?”
“Of course.”

The Perm-haired Woman glanced around briefly, then leaned close to the Middle-aged Man and asked in a low voice.

“You’re buying Donghae Oil stock, right?”

The Middle-aged Man gave a small nod.

“Midopa will see gains, but it’s already risen as much as it can. Donghae Oil, on the other hand, has far more room to run, wouldn’t you say?”
“You’re as sharp as ever, Kim.”

The Perm-haired Woman’s face brightened—she’d been thinking the same thing.

“Have you two already filled out your purchase orders?”
“Of course. Once the market opens, there’ll be a feeding frenzy at the counters. If you want to buy stocks quickly, you have to prepare in advance.”

Lee Guk-sang boasted as he shrugged his shoulders, and the Perm-haired Woman’s expression grew slightly anxious.

“I’d better write out my order right away then. So how much are you two putting in?”

The Middle-aged Man shook his head slightly with a measured tone.

“That’s something each person must decide for themselves. But if you want to buy stocks, you’ll absolutely have to bid higher than yesterday’s closing price.”
“That’s true enough.”

The Perm-haired Woman hurried to a table off to the side before it got any later and wrote down the price she’d been considering on her purchase order.

[Purchase Order Price: 35,000 ₩]

It was 1,480 won higher than the previous day’s closing price.
But worried it still wouldn’t fill, she hesitated for a moment before tearing up the order and pulling out a fresh one, writing a new price.

[Purchase Order Price: 37,000 ₩]

“Everyone’s going to be desperate to buy Donghae Oil. This price should be enough to actually get the shares.”

It was an absurdly high price, but having already made a sweet profit from Midopa Department Store shares, she was certain the stock would surge dramatically on the back of the M&A issue this time too.
The Perm-haired Woman hummed contentedly as she looked at the purchase order in her hand.

“This time I won’t be greedy—just double my money and get out.”

She’d already bought the handbag, so now she wanted new clothes and shoes to match it.
Or maybe a diamond ring or bracelet would be nice too.
With her face flushed with anticipation, the Perm-haired Woman folded her purchase order carefully and tucked it into her pocket.
Not just the woman, but all the investors gathered on the Trading Floor were filled with hope and greed—eager to grab their share while the two groups fought over their stakes.
Before the market even opened, investors lined up long queues at the counters, and the securities company, having been badly burned before, mobilized all their security guards and male staff to maintain order.
But the moment trading began, Donghae Oil surged dramatically, and even Midopa Department Store, which had stalled briefly, shot upward as well. Investors desperate to buy stocks rushed forward in a wave, and the Trading Floor descended into chaos once again.

“Stop pushing!”
“I was here first!”
“I’ve been standing in front since earlier—what nonsense are you spouting?”
“Get out of the way.”
“Everyone, please maintain order!”
“Form a line. Don’t come forward!”

The Security Guards and Donghae Peregrine Securities employees shouted themselves hoarse and desperately tried to restore order, but it was all for naught.
As the stock prices for Donghae Oil and Midopa Department Store displayed on the massive ticker board turned crimson and climbed ever higher, the physical scuffles and shouting at the counter windows only intensified.

* * *

[Donghae Oil: 37,600
↑ 4,080]

“Phew. The way it’s shooting straight to the daily limit is absolutely extraordinary.”

Jung Hwan-yeop, watching the stock price on his monitor, shook his head and glanced back over his shoulder at Seok-won standing behind him.
Seok-won’s expression remained composed as he observed the surging stock price.
He wore an impeccably tailored suit today as always, along with a striking designer wristwatch—not merely a timepiece but a work of art itself, a brand that Seok-won had recently acquired following Gucci and added to his personal portfolio: a Vacheron Constantin Mercator Yellow Gold leather watch released last year.

‘I wonder how much something like that costs.’

Jung Hwan-yeop tried to gauge Seok-won’s reaction but found his gaze drawn naturally to the watch, muttering to himself.
He had no idea what it was, but it looked incredibly expensive, and it suited Seok-won perfectly.
Unconsciously admiring it, Jung Hwan-yeop shifted his gaze to the side.
Department Manager Choi Ho-geun, standing beside Seok-won, and the other employees were all leisurely seated, watching the stock prices climb—a stark contrast to the fiery market conditions.
When Jung Hwan-yeop saw Donghae Oil’s stock price approaching 38,000 won, he finally couldn’t hold back and spoke up.

“At this rate, the stock will exceed 40,000 won per share before the market closes today. Are you really comfortable just sitting back and doing nothing?”

Department Manager Choi Ho-geun was about to scold Jung Hwan-yeop, worried that Seok-won might take offense.
Manager Choi Ho-geun quickly straightened his expression, worried that Seok-won might feel upset, and was about to scold Section Chief Jung Hwan-yeop.

“It doesn’t matter if it surges. We have no intention of acquiring any more shares anyway.”
“It doesn’t matter if it skyrockets. I have no intention of buying more shares anyway.”

The other two were equally taken aback.
The other two people wore equally bewildered expressions.

“Pardon?”
“What do you mean…?”

Everyone had naturally assumed that after announcing the acquisition of an 18% stake in Donghae Oil and explicitly stating that the purpose was to secure management rights, we would aggressively purchase more shares.
But hearing that we wouldn’t be buying any more Donghae Oil stock was shocking, to say the least.
Jung Hwan-yeop blinked rapidly, his face asking what I meant.

“Weren’t you planning to accumulate shares in Donghae Oil and execute a reverse M&A?”
“It was just bluffing. I did it deliberately to catch them off guard.”
“In that case…?”
“I’ll demand an emergency shareholders’ meeting and put executive replacement on the agenda, but I have no intention whatsoever of actually swallowing Donghae Group.”

All the employees except Choi Ho-geun, who already knew from hearing about it beforehand, couldn’t hide their bewilderment.
Seok-won shrugged his shoulders and spoke with an indifferent tone.

“It’s not a bad acquisition target since it monopolizes the cooking oil and feed markets and generates steady cash flow, but in a little while there’ll be a fire sale where we can pick it up for a pittance. There’s no reason to buy it at an inflated price now.”

At the mention of a fire sale, Jung Hwan-yeop and the other employees—and even Choi Ho-geun—wore puzzled expressions.
It was true that the stock price had risen due to the M&A catalyst, but would it really fall enough to be called a sale?
From their perspective, not knowing that an enormous tidal wave called the IMF would engulf South Korea next year, it sounded strange.
The IMF was precisely the opportunity when all of South Korea would hold a fire sale, sweeping up premium companies and assets at bargain prices.
However, those who had plundered the national wealth that the entire population had painstakingly built over decades were Western speculative capital centered on Wall Street, so I wore a bittersweet smile inwardly.

‘In the original history, we were helplessly fleeced by Western speculative capital, but this time I won’t let that happen.’

Meanwhile, Jung Hwan-yeop, his face showing he didn’t understand, even turned his chair backward as he asked.

“If we do as you say, we might deceive them for a moment, but soon they’ll realize it was a bluff and become furious, won’t they try to seize control of Midopa Department Store even more aggressively than before?”
“Of course they will. But in a short while, they’ll lose the momentum to pursue hostile M&A, so there’s no need to worry.”
“Pardon?”

Jung Hwan-yeop and the employees tilted their heads, wondering what this meant.
When they looked at me with eyes asking if I knew something, Choi Ho-geun subtly averted his gaze.
It felt slightly like a betrayal that he alone knew and kept his mouth shut.
Then I raised one arm to check the time.

“Soon the rumors will start circulating, so it’s fine to tell the employees.”
“Is that acceptable?”

Seok-won nodded as if it were nothing to worry about.

“I’m dying of curiosity. Please, tell me what it is right away.”

Jung Hwan-yeop, visibly impatient, pestered him relentlessly.

“You really are something….”

Yu Seok-hyun and Hong Jae-hee, both his juniors, sat quietly without a word, yet why was this manager making such a fuss?
As Choi Ho-geun groaned and pressed his forehead with his hand, Seok-won spoke with a smile on his face.

“Since you’ll need to know this to respond and act ahead of others anyway, I’ll show you.”
“Understood.”

Choi Ho-geun pulled out a folded A4-sized piece of paper from his back pocket and handed it to Jung Hwan-yeop.

“What on earth is this…?”

Jung Hwan-yeop’s eyes widened as he read the contents.

“Is this really true?”
“Yes. The director and senior officials of the Securities Supervisory Authority systematically accepted bribes and turned a blind eye to accounting fraud and misconduct at several companies, including Yuchang Information & Communications, which was recently listed.”

Jung Hwan-yeop’s expression turned incredulous.

“I always knew something smelled off, but to overlook companies that don’t even qualify for listing, and to bury reported violations—they’re completely rotten to the core.”

Yu Seok-hyun and Hong Jae-hee, who had risen and approached, read the contents of the paper in Jung Hwan-yeop’s hands and frowned.

“This is really serious.”
“How is this even possible? And of all places, the Securities Supervisory Authority!”
“That’s what I’m saying. It’s like leaving a fish shop in the care of a cat.”

Jung Hwan-yeop, who had been cursing in anger, suddenly turned his head to look at Seok-won as a thought struck him.

“But what does this have to do with Donghae Group? How does this mean they won’t have the resources for a stake fight?”

Seok-won grinned, baring his teeth.

“Look closely at which underwriting firm handled the IPOs of the problematic companies.”
“Yes? I… uh…”

Jung Hwan-yeop, wearing a puzzled expression, quickly scanned through the content that would soon be distributed as rumors to the Securities District and media outlets, and his eyes widened.

“Donghae Peregrine Securities handled all of them as the underwriting firm!”
“Exactly. And Donghae Peregrine Securities actively facilitated accounting manipulation, stock price inflation, and the covering up of misconduct by playing the intermediary role.”

Everyone failed to hide their astonishment at this unexpected connection.

“Wow. Is such a thing even possible?”
“It’s remarkable. I suddenly wondered why the Securities Supervisory Authority would appear out of nowhere.”
“Ah, so that’s why the president—!”

Seok-won gazed at his employees with a composed expression.

“Do you really think Donghae Group will be able to continue its hostile M&A even after these facts come to light?”
“It would be… quite difficult.”

Jung Hwan-yeop unconsciously gasped with admiration, his mouth falling open.
And Yu Seok-hyun likewise regarded him with awe as he asked.

“Did you… plan out this entire scheme in advance and move accordingly?”

Seok-won answered not with words, but with a deep smile playing at the corners 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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