Golden Spoon Investment Portfolio - Chapter 277

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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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277. Is this foreign investor they claim to have found actually real?

With the extraordinary general meeting confirmed and both sides catching their breath, Midopa Department Store’s stock price, which had been consolidating in the 70,000 won range, suddenly surged with a massive bullish candlestick, setting the trading floor ablaze with activity.

“Look at that trading volume exploding. I shouldn’t have sold… why does the price go up whenever I sell!”
“Why is this happening all of a sudden?”
“The Prosecution said they’re investigating Donghae Peregrine Securities. Doesn’t that mean all the M&A positive news is over?”
“It keeps climbing. At this rate, we’re going to hit the daily limit up.”

The roughly forty individual investors who practically lived on the trading floor couldn’t tear their eyes away from Midopa Department Store’s stock price, which was creating a fiery red pillar on the screen.
Some gasped in amazement at the sudden surge, while those who had sold their Midopa shares during the morning session in frustration at the sluggish movement now tore at their hair in regret, watching the situation transform in just half a day.
Meanwhile, several others moved between the price boards and terminals or gathered in small groups, debating whether a genuine second surge had truly begun or if this was merely a brief rebound before another decline.

“Shouldn’t we jump in right now?”
“But what if it drops again!”
“I told you so. This can’t possibly end here!”
“No way. This is just a scheme to fleece retail investors.”

Among them, those with quick reflexes and predatory instincts immediately rushed to the consultation counter the moment the stock began climbing, purchasing Midopa shares.

* * *

[Midopa Department Store 80,200
9,820]

Jung Hwan-yeop, moving frantically to respond to the sudden situation that erupted the moment the afternoon session began, shook his head as he looked at the numbers displayed on the stock price screen.

“We’ve broken through 80,000 won again after all.”

At that moment, Hong Jae-hee set a bottle of Bacchus on his desk and spoke.

“Please have this.”
“Oh, thanks. My energy was completely depleted anyway.”

Jung Hwan-yeop looked up with a grateful expression and immediately uncapped the bottle, draining it in one long gulp.

“Don’t mention it.”

Watching Hong Jae-hee distribute Bacchus energy drinks to the others, Jung Hwan-yeop turned his body around and addressed Choi Ho-geun, who had just finished a call and was setting down the receiver.

“They’re pouring money in like there’s no tomorrow. It seems like they’re determined to settle this once and for all.”

Yu Seok-hyun, catching the drift, interjected cautiously.

“From what I can see, they’re trying to pull in as much equity as possible in the final stretch.”
“Right?”

Jung Hwan-yeop clasped his hands behind his head and looked back at Choi Ho-geun.

“You were just on the phone with the Stock Exchange, weren’t you?”

Choi Ho-geun, his shirt sleeves rolled up, pulled out a cigarette and placed it between his lips, nodding.

“Yeah. The Exchange said the massive buy order in the morning session came from Donghae Peregrine Securities.”

Choi Ho-geun lit his cigarette with a lighter.
It was something unimaginable in later times, but at this point in time, smoking in the office was hardly unusual.

“Then it’s definitely those Donghae Group bastards.”

Jung Hwan-yeop replied as if he’d expected as much.
Hong Jae-hee and Yu Seok-hyun, who had returned after putting the half-empty box of Bacchus back in the refrigerator, lit up their eyes as if they shared the same thought.
As Choi Ho-geun exhaled white cigarette smoke with a slightly hardened expression, Seok-won entered the office with Han Ji-sung, his Attendant Secretary.

“You’ve all worked hard today.”

Choi Ho-geun quickly stubbed out his cigarette in the ashtray and stood up.
Jung Hwan-yeop and the staff also rose from their seats and bowed to Seok-won.

“Welcome, sir.”

Seok-won raised one hand in a light acknowledgment and, looking at Choi Ho-geun who had hurried forward, spoke.

“I heard that Donghae Peregrine Securities was the one who placed the first massive buy order in the afternoon session?”
“Yes. I just confirmed it through an acquaintance at the Exchange.”

As expected, Seok-won nodded slightly, impressed that I hadn’t overlooked the most critical detail, and asked a question.

“How much capital did you deploy for today’s purchases?”
“We used ten billion won each from the Ubo Foundation and the textile account—two hundred billion won total for acquisitions.”

This meant I had fully utilized the approved spending limit.

“We acquired 262,467 shares at an average price of 76,200 won per share.”
“How many shares did the opposition secure?”
“We can’t say for certain, but given that they placed massive orders the moment the afternoon session opened and swept up all available inventory, they likely secured at least 300,000 shares. Of course, since they started first, their average acquisition price is probably lower than ours.”

As the market drew to a close, with most selling pressure vanishing without a trace amid expectations of a second surge and only buy orders appearing, Choi Ho-geun’s assessment proved nearly accurate.

“I thought that once we cut off the additional funding flowing in from Hong Kong, there wouldn’t be any more aggressive buying. My prediction was wrong.”

Seok-won admitted his mistake honestly.
Normally in such situations, people would scramble to conceal their errors rather than acknowledge them, and would pressure their subordinates—but Seok-won did neither, leaving Choi Ho-geun and the staff genuinely surprised by this fresh approach.

“What do you all think? Will the opposition come at us the same way tomorrow?”

Seok-won asked while standing with his arms crossed.
The fact that he posed the question to all department members rather than just Choi Ho-geun was itself a sight unseen among other supervisors.
As everyone hesitated, uncertain in this unfamiliar situation, it was Jung Hwan-yeop who raised his hand first.

“Even though today’s closing price broke through 80,000 won, buy orders never diminished and kept appearing right until the end. I don’t think they’ll stop here.”

Yu Seok-hyun then hesitated briefly before cautiously offering his opinion.

“It might be premature speculation, but I think Midopa Department Store shares could actually exceed 100,000 won per share this time.”

If Midopa Department Store stock truly surpassed 100,000 won per share, it would instantly enter the top twenty by market capitalization.
Before the M&A catalyst broke, such talk would have been dismissed as madness—but given the intensifying ownership battle, it didn’t sound entirely far-fetched.
Choi Ho-geun also responded to Seok-won’s question in a slightly subdued voice.

“Because the stock price stagnated over the past few days, considerable selling pressure accumulated, leading to massive transaction volumes in the afternoon session. But now that investors have caught wind of the ownership competition reigniting, they won’t readily sell the shares they’re holding—everyone’s anticipating a surge.”
“So as the price climbs, the selling pressure will dry up completely.”

Choi Ho-geun glanced sideways at Yu Seok-hyun’s face, then straightened his gaze and continued.

“Yes. If that happens, breaking through the 100,000 won mark won’t be entirely impossible.”
“When there are plenty of buyers but no supply, prices naturally rise—that’s basic market logic.”

Seok-won nodded in agreement.
I had absolute confidence that I would never lose in a money war.
Nearly a hundred billion won in cash still remained in the account I’d established at Daehung Securities, and if necessary, I could inject my personal assets.
But what troubled me was the prospect of massive stock purchases at prices that had already soared far beyond fair value, and worse, with the IMF crisis looming that would devastate the Korean stock market.

‘How persistently annoying this is, right to the very end.’

Inwardly clicking my tongue, I surveyed Choi Ho-geun and the staff before issuing my instructions.

“The remaining funds in our pocket won’t be substantial, but we can’t predict what variables might emerge. Continue driving up the stock price as we’ve been doing, and obstruct the other side from acquiring shares as much as possible.”

At that, Choi Ho-geun asked with a worried expression.

“For now, with expectations of a stock surge, volumes won’t be released heavily. But as the shareholder registry closure date approaches, selling pressure will intensify. What’s your plan for then?”

Once the shareholder registry closure date passed, any additional stock purchases would be worthless—shareholders couldn’t exercise voting rights at the extraordinary general meeting.
Naturally, as the registry closure date drew near, the likelihood of investors suddenly dumping the shares they’d been gripping tightly, driven by expectations of a stock surge, was quite substantial.
If that happened, our strategy of driving up the stock price to naturally suppress selling volumes and obstruct the other side’s acquisition would inevitably fail.
Unlike Choi Ho-geun’s expression of concern, I replied with composure.

“The situation will be resolved before then, so don’t worry.”
“Pardon?”
“Ah. And this.”

I withdrew my wallet from my inner pocket and pulled out a check for one million won, handing it to Choi Ho-geun.

“To endure until the very end, you’ll need to maintain your stamina. Tonight, enjoy all the premium beef you want.”

Jung Hwan-yeop, who uncannily recognized the amount written on the check, immediately beamed and gave a thumbs up.

“Only you could do this, sir!”

At their delighted cheers, I chuckled and spoke.

“Then hang in there a bit longer, everyone.”

Turning away from his desk, Seok-won left the office and took the elevator straight down to the lobby.
He then climbed into the back seat of the waiting Mercedes-Benz sedan.
As the car glided smoothly forward, Seok-won leaned back against the plush seat and pulled out his phone to make a call.
After the dial tone rang several times, Lee Chul-gyun answered with his characteristic deep voice.

[Go ahead.]

Seok-won opened his mouth, his expression calm and composed.

“You must have seen that the other side suddenly resumed massive share accumulation during this afternoon’s trading session.”
[Yes.]
[Their funding should have been cut off, but I need to know where this money came from. How many days will you need?]

Lee Chul-gyun paused briefly at Seok-won’s question before responding.

[Give me four days.]
“Fine.”

* * *

Thursday, May 2nd.
As the share battle that had momentarily stalled reignited with renewed intensity, Midopa Department Store stock surged a second time, repeatedly hitting the daily limit before finally breaking through 100,000 won per share.
In tandem, Donghae Oil stock also climbed, surpassing 60,000 won per share, and the two stocks set the domestic market ablaze.
Jeon Hae-cheol, the Chief Secretary, sat before his desk in his private office, his expression grave as he watched the stock prices of Midopa Department Store and Donghae Oil displayed on his monitor. He looked up at the sound of a knock on the door.

“Oh Sang-hyun is here to see you.”

At the Female Secretary’s words, Jeon Hae-cheol straightened his upper body and replied.

“Send him in.”
“Yes, sir.”

After the Female Secretary left, Oh Sang-hyun, dressed in a gray suit, entered shortly after, bowed respectfully, and approached the desk.

“Chief Secretary, you called for me.”

Jeon Hae-cheol leaned back against his chair and spoke.

“I’m sorry for calling you in when you must be busy.”
“Not at all.”

Jeon Hae-cheol, the Chief Secretary, studied Oh Sang-hyun with a piercing gaze before cutting straight to the point.

“Let’s skip the pleasantries and get to business. Over the past few days, Woo’s executive director has spent what appears to be roughly 300 to 400 billion won. Where exactly did this money come from?”

Oh Sang-hyun hesitated for a moment, but quickly composed himself and answered smoothly.

“As I’ve already reported to the Chairman, it’s funding we secured from another investor we found in Hong Kong.”
“Is that really true?”
“Yes, it is.”

Yet Jeon Hae-cheol remained filled with suspicion.
He found it utterly implausible that they had conveniently found someone willing to invest such a substantial sum at precisely this moment.
He narrowed his eyes skeptically and pressed further.

“Then tell me who this foreign investor you supposedly found is.”
“I’m afraid I cannot disclose that information.”

At the blunt refusal, Jeon Hae-cheol’s eyebrows rose sharply.

“Look here. Keeping secrets even from me—does that make any sense?”

But no matter how much he pressed, Oh Sang-hyun merely wore an awkward expression and offered no proper answer.

“I apologize. However, if this information leaks, the other party could interfere just as Peregrine Securities in Hong Kong did. The executive director has given strict orders that I must remain silent on this matter.”
“This is ridiculous…”

Seeing that he would get no answer from Oh Sang-hyun, Jeon Hae-cheol’s expression darkened as he openly displayed his displeasure.
But since Oh Sang-hyun merely followed Woo Ho-geun’s orders, pressing him further would yield nothing. Jeon Hae-cheol let out a heavy sigh and pressed his palm against his forehead.

“Fine. You may go.”
“Yes, then.”

As Oh Sang-hyun turned to leave, Jeon Hae-cheol called him back.

“Wait.”

As Oh Sang-hyun turned to leave, Jeon Hae-cheol, the Chief Secretary, asked in a measured tone.

“Does this foreign investor you claim to have found actually exist?”

Oh Sang-hyun’s pupils wavered for a moment, but he soon lowered his head slightly and answered.

“…Yes. That is correct.”

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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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