Golden Spoon Investment Portfolio - Chapter 267

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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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267. It’s my fault for entrusting this to you.

“What the hell is this!”

Woo Ho-geun crumpled the pamphlet detailing the Securities Supervisory Authority’s corruption and shouted.
Then Oh Sang-hyun, standing before the desk, opened his mouth with a grave expression.

“Given that all the companies implicated in corruption, including Osung Information & Communications, went public with Donghae Peregrine Securities as the lead underwriter, something feels decidedly off.”

Woo Ho-geun narrowed his eyes at Oh Sang-hyun.

“Are you saying we’re being targeted?”
“With Daheung Group locked in a fierce equity battle with us right now, the sudden emergence of such a pamphlet is far too coincidental to dismiss as mere chance.”
“…Now that you mention it, it does seem suspicious.”

Woo Ho-geun’s face hardened as he stroked his chin with one hand.

“If you examine the pamphlet’s contents carefully, you’ll see it purports to expose systematic corruption by the former Securities Supervisory Board chairman and senior officials, while emphasizing that Donghae Peregrine Securities reaped unfair gains as a result.”
“There’s content like that?”
“It states that during the listing review process, the Securities Regulator discovered that Osung Information & Communications failed to write down aged inventory, inflating net profit by 350 million won, yet turned a blind eye.”

Woo Ho-geun uncrumpled the pamphlet he’d carelessly crushed and reviewed its contents again, nodding.

“It says that what should have been rejected and sanctioned for fraudulent accounting was instead hushed up with bribes, and when the offering price came in far higher than expected, both the major shareholder and the lead underwriter, Donghae Peregrine Securities, profited. Do you see that?”
“Hmm…”
“Moreover, there’s an allegation that to sell the shares held as the lead underwriter at premium prices, we deliberately released an investment report inflating sales despite modest actual profits, artificially driving up Osung Information & Communications’ stock price. Given this, I’m convinced this is clearly targeting us.”

The more I listened, the more suspicion transformed into certainty.
Woo Ho-geun’s eyes gleamed sharply as he asked.

“Right. I see. There’s no one else who would pull something like this except Daheung Group, is there?”
“That’s likely the case.”

Then Woo Ho-geun brought his fist down hard on the desk before him and ground his teeth.

“These bastards!”

Oh Sang-hyun, having witnessed Woo Ho-geun’s impatient and brutal temperament flare up more than once, spoke with an expressionless face.

“Already, there’s massive criticism that we’re colluding with foreign capital to strip domestic companies of their management rights. If this incident piles on top of that, public opinion will deteriorate even further.”
“Who doesn’t know that!”

Woo Ho-geun shouted, his voice dripping with irritation.
Then, with agitated movements, he yanked at his necktie knot and furrowed his brow as if seized by a headache.

“If rumors are already circulating through the Securities District, it’s only a matter of time before they hit the papers, isn’t it?”
“By now, the journalists have probably caught wind of it. If we’re unlucky, it’ll be reported in the evening edition or the evening news today.”
“Damn it! Nothing ever goes right.”

Woo Ho-geun bit down hard on his lower lip, taking a moment to collect himself and organize his thoughts.
Then he lifted his head and fixed his gaze on Oh Sang-hyun, the manager standing before him.

“Contact the media outlets immediately and kill the story.”

Oh Sang-hyun’s expression darkened with difficulty.

“Since the Securities Supervisory Authority is directly involved in such a massive scandal, it will be difficult to suppress the article.”
“Then at least remove Donghae Peregrine Securities’ name from the article! Whether you have to grease palms or buy drinks, I don’t care. Just make sure our group doesn’t get dragged into this mess, no matter what!”

Though the directive was unreasonable no matter how he looked at it, Oh Sang-hyun knew Woo Ho-geun wasn’t the type to listen to excuses.
The manager exhaled a silent sigh and reluctantly acquiesced.

“…Understood.”

At that moment, the telephone on the desk rang loudly.
Woo Ho-geun grabbed the receiver roughly and barked into it without preamble.

“Who is this!”
[It’s me.]

Recognizing the caller as Chairman Woo Yong-gap, Woo Ho-geun’s complexion drained of all color.

“Ah. Father.”
[Get to my office right now!]

Chairman Woo Yong-gap, apparently having received word about the rumors, spoke in a furious tone before hanging up abruptly.

“Damn it…”

It was as clear as day that if I went to the Chairman’s Office, a storm of fury would descend upon me.
Woo Ho-geun, dreading the barrage of criticism that awaited him, hurled the receiver down as if to shatter it and tore at his hair in frustration.

“Damn it! I’m going to lose my mind!”

* * *

Jung Sang-min, the editor-in-chief of Sechang Daily News—a major daily publication with circulation exceeding one million copies—was carefully reviewing the first edition proofs that would go to print the moment he gave his approval.
Just then, a Female Secretary knocked and entered, announcing something.

“Editor-in-Chief. Woo Ho-geun, Executive Director of Donghae Group, is calling for you.”

Jung Sang-min, who happened to have the page on Securities Supervisory Authority misconduct spread before him, narrowed his brow slightly.

“Put him through.”
“Yes, sir.”

After the Female Secretary left, the telephone on the corner of the desk rang not long after. Jung Sang-min, picking up the receiver, spoke in a calm voice as if he hadn’t just been frowning.
Editor-in-Chief Jung Sang-min picked up the receiver and spoke in a calm voice, as if asking when he had ever frowned.

[I’m calling because there’s a favor I need to ask.]
I’m reaching out because I have a favor to ask.

Jung Sang-min leaned back in his chair, glancing at the Securities Supervisory Authority misconduct article featured in the first edition proofs spread across his desk.
He had a rough idea what this was about, but feigning ignorance was a bonus.
I could roughly guess what this was about, but pretending not to know and playing dumb was just a bonus.

[I know you must be busy. So I’ll skip the preamble and get straight to the point.]
“Please do.”
[Regarding the Securities Supervisory Authority misconduct story breaking today, I’d like you to remove the name Donghae Peregrine Securities from the article.]
I would appreciate it if you could remove Donghae Peregrine Securities’ name from the article about the Securities Supervisory Authority scandal that broke today.

As expected, Jung Sang-min the editor-in-chief showed a troubled expression while holding the receiver to his ear.

“Even though I’m the editor-in-chief, I can’t carelessly alter the content of articles that were obtained through difficult reporting. Especially not when it’s an article with significant social impact.”

But since he was the one in need at the moment, he swallowed his irritation and spoke in a softer tone.
But since he was the one who needed this, he swallowed his pride and spoke in a gentle voice.

[Of course I understand. That’s precisely why I’m making this request. Considering the good relationship we’ve maintained all this time, I’d greatly appreciate it if you could make an exception just this once.]
“Well, I see….”
[If you help us, I’ll make sure you’re properly compensated.]

At that, Jung Sang-min straightened in his chair, his expression suddenly keen.

“Compensated, you say….”
[We’ll have advertisements for our newly launched pasta sauce and cooking oil featured in the paper.]
“Ah….”

Jung Sang-min’s face fell immediately upon hearing this.
Woo Ho-geun, oblivious to his disappointment, continued with barely concealed smugness.

[It’s not as though we’re asking you to suppress the article entirely—merely to omit our subsidiary’s name. Surely that’s not too burdensome. I’d say it’s a rather fair proposal.]
“Well… I suppose we could discuss it.”

Jung Sang-min’s tongue flicked against his teeth as he gave an evasive response.

[I’d truly appreciate it. And if you have time later, perhaps we could go out and play a round of golf together.]
“Yes, of course.”

Jung Sang-min hung up the receiver with an indifferent expression, then clicked his tongue softly.
Still seated, he reached down and pulled open the bottom drawer of his desk.
As he unfolded the paper shopping bag inside, thick bundles of ten-thousand-won notes came into view.
Gazing at them with satisfaction, Jung Sang-min closed the drawer again and, without the slightest hesitation, signed his name beside the first-edition layout.

* * *

That afternoon.
Thoroughly irritated by the mounting complications, Woo Ho-geun entered the Attached Office with Oh Sang-hyun in tow.
The secretarial staff who had been working looked up hastily and bowed in greeting.

“Is the Chairman inside?”

The Female Secretary answered quickly, sensing his sharp tone.

“Yes. He’s waiting for you.”

Woo Ho-geun left Oh Sang-hyun behind and strode toward the door, knocking lightly.
Upon entering the Chairman’s Office, he found Chairman Woo Yong-gap seated on the sofa with Chief Secretary Jeon Hae-cheol and Executive Director Jung Yun-sik.

“You called for me, sir?”

Chairman Woo Yong-gap turned to look at Woo Ho-geun, his face flushed crimson with rage. He shot to his feet and immediately seized the newspapers scattered across the table, hurling them across the room.

“I told you to make absolutely certain this didn’t become a problem! So what is this!”

Chairman Woo Yong-gap’s voice thundered through the room, shaking the very walls.
Woo Ho-geun, caught off guard by this sudden assault, protested with an aggrieved tone.

“I contacted the media outlets and ensured that Donghae Peregrine Securities’ name wouldn’t appear in the articles. Why are you—”
“You absolute fool.”

Chairman Woo Yong-gap stared at him with contempt, pressing his palm to his forehead.

“I was wrong to entrust this task to you.”

Woo Ho-geun stood there, utterly bewildered as to why he was being berated, his face reddening.
Before he could even be offered a seat, Chief Secretary Jeon Hae-cheol interjected.

“Donghae Peregrine Securities’ name appears prominently in the evening edition of all the major dailies distributed at newsstands.”
“That can’t be right!”

Woo Ho-geun’s expression turned incredulous, and Chairman Woo Yong-gap sank back onto the sofa with a frustrated sigh.

“What an incompetent wretch!”

Chief Secretary Jeon Hae-cheol fixed Woo Ho-geun with a stern gaze and asked.

“Did you receive a clear, definitive confirmation that they would omit the company name?”
“Of course I did!”

The words tumbled from Woo Ho-geun’s mouth, but he suddenly recalled how the newspaper editors he’d spoken with had all given vague, noncommittal responses. His heart sank.

“That’s strange then. According to the articles in the papers, not only did they fail to omit Donghae Peregrine Securities’ involvement in this incident—they portrayed the company as deeply implicated and profiting handsomely from it.”
“What do you mean—”

Woo Ho-geun hurriedly snatched up one of the newspapers scattered across the floor and scanned the article.

[….Had they adhered strictly to protocol, Oh Sang-hyun Information & Communications would have been unable to list on the stock exchange. Yet with Donghae Peregrine Securities as the underwriter, the company successfully went public at a relatively high offering price of 12,500 won per share.
Subsequently, riding the wave of broad strength across the information technology sector and bolstered by optimistic reports from securities firms based on falsified accounting records, the stock price surged dramatically, reaching as high as 65,000 won.
Throughout this process, Donghae Peregrine Securities, holding substantial share quantities as the underwriter, appears to have reaped enormous profits from the price differential alongside substantial underwriting fees.
Meanwhile….]

Just as Chief Secretary Jeon Hae-cheol had warned, the article was written in a way that made it seem Donghae Peregrine Securities had been deeply involved in the entire affair.
Woo Ho-geun, unable to conceal his shock, frantically flipped through the other newspapers, but not a single article omitted the name Donghae Peregrine.

“This… this can’t be happening.”

Then, catching sight of an advertisement occupying half the page directly beneath the article, Woo Ho-geun’s eyes widened in alarm.

[Spring BIG Bargain Sale!
To celebrate the arrival of refreshing spring, Midopa Department Store brings you price-shattering bargains once again!!]

The smiling face of the advertisement model and the words “Midopa Department Store” seized his attention with infuriating prominence.

‘I’ve been played.’

The realization struck him like lightning—Daheung Group, no, Seok-won had blindsided him once again.

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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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