Saseong Securities | Trading Floor.
Amidst the tightly packed terminals displaying real-time fluctuations in stock prices and an endless flood of information, traders sat at their desks—each equipped with at least two or three monitors—engrossed in frantic transactions through their computers and phones.
"Sell 2,000 shares of Donghae Oil at 42,200 won! Got it."
"70,650 won… No, 70,700 won! Buy 1,300 shares of Mido Department Store!"
The stocks with the most active buy and sell orders were, unsurprisingly, Mido Department Store and Donghae Oil, both of which were at the center of a heated M&A issue.
The trading floor, which had been buzzing with activity, finally settled down when the bell signaled the end of the Saturday morning session.
"Phew..."
Go Byeong-chu, who had been holding the phone throughout the session, let out a groan as he slumped into his chair, completely drained.
"Ugh, I'm exhausted."
Sitting beside him, Woo Jeong-hyeok also wore a tired expression.
"Daeheung's sudden counter-M&A move while accumulating Donghae Oil shares has turned everything upside down."
"Tell me about it."
Go Byeong-chu picked up his mug from the desk, only to find it empty. Clicking his tongue in disappointment, he set it back down.
"Even with only a half-day session on Saturday, it's already this crazy. Monday's going to be a nightmare."
"Not just Monday. I bet next week will be just as bad."
The thought alone made Go Byeong-chu shudder.
"Ugh… I'm already dreading work next week. Maybe I should just use up my overdue vacation days."
"If you try that, the manager will probably ask for your resignation first."
"Yeah, you're probably right."
As Go Byeong-chu slumped back in his chair with a sigh, Woo Jeong-hyeok tried to lift his spirits.
"Enough with the whining—just finish sorting out the transaction slips. Let's head out after work for some fried chicken and cold beer."
Hearing this, Go Byeong-chu perked up.
"That sounds great! Are you buying?"
"What? I paid last week, so it's your turn."
"Oh… Did you?"
Looking dejected, Go Byeong-chu scratched the back of his head.
At that moment, Do Jin-han, who sat across from them, suddenly popped his head over the monitor and chimed in with a playful grin.
"I heard a new place called 'Mother-in-Law's Seasoned Chicken' just opened in the back alley. How about we try that?"
"Argh! You scared me, man!"
Go Byeong-chu clutched his chest in shock and yelled.
Woo Jeong-hyeok chuckled at the antics of his junior colleague, with whom he was quite close.
"Alright, you're coming with us."
Do Jin-han gave a mock salute and winked.
"I'll wrap up quickly and escort my esteemed seniors."
"Sounds good."
Though they pulled faces at Jin-han's exaggerated display of cuteness, the lighthearted exchange brought some much-needed laughter, lifting their spirits.
As the atmosphere eased, Go Byeong-chu glanced at the stock charts for Mido Department Store and Donghae Oil still displayed on his monitor. Shaking his head, he muttered,
"Man, both of these stocks are going crazy. How high do you think they'll go?"
"If I knew that, I'd have already made a fortune and left this industry instead of sitting here."
"Yeah… good point."
As Woo Jeong-hyeok gathered the scattered transaction slips and loose sheets of paper from his desk, he shrugged.
"Both stocks have already soared far beyond their fair value, but as long as the M&A issue is still alive, won't they keep rising?"
"To win the ownership battle, they need to hold as many shares as possible. Damn, if I had known earlier, I could've made a killing."
Stockbrokers were officially prohibited from trading stocks.
However, at that time, it was common for them to secretly buy and sell through family members' accounts, and people simply turned a blind eye to it.
"At this rate, it'll be sunset before we're done. Hurry up and finish processing the transaction slips so we can go grab a beer."
"Okay."
At Woo Jeong-hyeok's urging, Go Byeong-chu, who had been dawdling, quickly began organizing the day's trades.
Just then, their manager—who was suffering from stress-induced hair loss—stormed onto the trading floor with a sheet of paper in his hand and shouted,
"Drop everything and get to the meeting room immediately!"
The traders, who had been preparing to leave for the day, exchanged puzzled looks.
"Manager, what's going on?"
Go Byeong-chu stood up and asked.
The manager, his face stiff with tension, clenched his teeth as he scanned the murmuring traders.
"Damn it. A bomb just went off."
"A bomb?"
"Yeah, you heard me! The head of the Financial Supervisory Service and senior officials took bribes to cover up Osung Information & Communication's fraudulent accounting. And as if that wasn't enough, they also buried an investigation into insider trading allegations!"
The entire trading floor erupted in chaos.
Traders who had been ready to head home scowled and sank back into their seats.
"Damn it. So much for leaving early."
"Those bastards at the Financial Supervisory Service got too greedy. I knew something like this would blow up sooner or later."
"Osung Information & Communication? The one that tripled in value right after going public?"
"I bought shares in that company just recently… I'm going to lose my mind."
Frustrated voices and curses filled the air as traders resigned themselves to an inevitable late-night shift.
If it had been any other stock, the manager wouldn't have caused such a stir.
But many of the companies tied to this corruption scandal—including Osung Information & Communication—had seen their stock prices skyrocket in recent months, making them a major part of their portfolios. That's why an emergency meeting had to be called.
"Cut the chatter and get to the meeting room so we can discuss our next steps!"
As they watched the manager march off with a grim expression, Go Byeong-chu let out a deep groan.
"My fried chicken and beer… gone."
He had been looking forward to chugging a cold draft beer, and the disappointment made him squirm in frustration.
Just then, Woo Jeong-hyeok, his face twisted in agony, cursed under his breath.
"Goddamn it! Why did it have to be Osung Information & Communication?"
"Did you hold a lot of it?"
"The tech sector was booming, and their earnings forecast looked great, so I increased my holdings. Damn it, this is a nightmare."
As Woo Jeong-hyeok clutched his forehead in despair, Do Jin-han, sitting behind the partition, also looked distraught.
"The rumors say Sunjin Leather is involved too… and I just bought shares in them this week. What should I do?"
"You too?"
Looking around, it was clear that Go Byeong-chu and Woo Jeong-hyeok weren't the only ones in trouble.
More than half of the traders were holding their heads in despair.
"Damn it… Those bastards at the Financial Supervisory Service are causing chaos everywhere."
* * *
Daehung Group Headquarters.
Chairman Park Tae-hong exhaled sharply and lifted his head after finishing the scandalous report that had shaken Yeouido's financial district over the weekend.
Seated in his office with him, Secretary-General Gil Seong-ho and his eldest son, President Park Jin-hyung, were just as shocked.
After setting down the report, Chairman Park silently shook his head as he glanced at Seok-won, who remained composed despite dropping such a bombshell.
"He's my son, but I can't help but be impressed."
Suppressing his surprise, Chairman Park calmed himself before speaking.
"So, the head of the Financial Supervisory Service and senior officials systematically took bribes and engaged in corruption. And Donghae Peregrine Securities is deeply involved in all of this. Is that correct?"
"Yes."
As Secretary-General Gil and President Park looked on with curiosity, Seok-won gave a small nod.
"Not just involved—it's fair to say they orchestrated the whole thing from the start."
"Is it really that serious?"
Chairman Park leaned forward in his seat.
"As the report states, Donghae Peregrine was the lead underwriter for all the companies implicated in the scandal."
"That's right."
Seok-won took a sip of tea before continuing his explanation in an even tone.
"For underwriters, the higher the IPO price, the larger their cut. So they had every incentive to 'massage' the financial statements to inflate those prices. The major shareholders would have wanted the same thing."
"Since underwriters also have to take on unsold shares during an IPO, they needed to pump up the company's value to ensure they could sell them at a profit," Park Jin-hyung added, jumping into the conversation.
Seeing how quickly his older brother grasped the situation, Seok-won nodded internally.
"Well he was chosen early on as the successor. No wonder he's been trained so well in management."
Letting their stares wash over him, Seok-won continued.
"Exactly. On top of that, this strategy allowed Donghae Peregrine, a latecomer to the industry, to rapidly cement its position by successfully handling consecutive IPOs."
At this, Secretary-General Gil let out a low sigh.
"Even though they partnered with the renowned Hong Kong firm Peregrine, their growth seemed suspiciously fast. Now we know why."
"Instead of building a solid company, they resorted to cheap tricks. Pathetic. Absolutely rotten to the core."
Chairman Park clicked his tongue in disapproval, his face darkening.
But Seok-won simply smiled and set down his teacup.
"Thanks to them, we now have a perfect opportunity to cripple Donghae Peregrine, which has been aggressively acquiring shares in Mido Department Store. This will make it much harder for them to push forward with a hostile takeover."
"Hmph. That's true."
Chairman Park scoffed under his breath.
At that moment, Secretary-General Gil adjusted his gold-rimmed glasses, his eyes gleaming.
"If Donghae Peregrine is exposed as being involved in this corruption scandal, public opinion—which is already unfavorable—will turn even more hostile."
"On top of that, if we bring up Woo Ho-geun's stock manipulation case again, we can put the entire Donghae Group's moral integrity under scrutiny. That would give us an even greater advantage."
"Woo Ho-geun… You mean Chairman Woo's eldest son?"
Seok-won gave a slight nod in response to Chairman Park Tae-hong's question.
"Yes. Last year, he attempted to manipulate stock prices using a company called Boseong Telecom. When he got caught, he fled to Hong Kong to evade investigation. Now, he's back and working as an executive director at Donghae Oil."
At those words, recognition flashed across President Park Jin-hyung's face.
"Ah, so that's what happened. I remember hearing at a gathering that Woo Ho-geun had suddenly been reassigned to the Hong Kong branch. I found it strange at the time, but now it makes sense."
Chairman Park snorted coldly.
"Like father, like son. Seems the whole family is cut from the same shady cloth."
It was clear to him that Woo's son was just as rotten as his father.
"Unlike them, my sons have turned out well."
Chairman Park cast a proud glance at his eldest son, who steadfastly upheld his responsibilities, and his second son, who always exceeded expectations.
"But how did you come across this information?"
Secretary-General Gil Seong-ho asked, clearly impressed.
Chairman Park and President Park were also curious about the same thing, their eyes filled with intrigue.
"It was just luck," Seok-won replied.
"What do you mean?"
Chairman Park furrowed his brows.
Anticipating this question, Seok-won delivered the answer he had prepared.
"I was the one who ruined Woo Ho-geun's scheme with Boseong Telecom by counteracting it."
"What?"
"It wasn't intentional. Back when I was an executive at Daehung Securities, I noticed a stock that was clearly being manipulated. So, I decided to have a little fun and mess with it. It just so happened that the stock was Boseong Telecom."
For a moment, Chairman Park sat in stunned silence. Then, he burst into laughter.
"Hahaha! Is that so? What a coincidence!"
He even slapped his knee, a look of satisfaction spreading across his face.
It was no wonder—his son had unwittingly thwarted the eldest son of Chairman Woo Yong-gap, the man attempting to take over Mido Department Store and swallow up their entire group.
"Through a connection I made with an official at the Financial Supervisory Service back then, I later learned about Donghae Peregrine Securities' involvement in corruption."
Seok-won deliberately left out the finer details.
There were still some unclear parts, but since they weren't particularly crucial, none of the three pressed him further.
"Everything is falling into place as if fate is on our side. It seems the heavens are favoring our group," Secretary-General Gil remarked with a bright expression.
Chairman Park, his face beaming with satisfaction, nodded in agreement.
"Luck played a role, but without Seok-won's keen judgment and quick thinking, none of this would have been possible."
"That's right. We owe this all to Seok-won."
President Park Jin-hyung, without a hint of jealousy, looked at his younger brother with admiration.
Seok-won had detected Donghae Group's hostile takeover attempt earlier than anyone else and had handled the situation with remarkable skill, as if he had been prepared all along. There was no denying his competence.
Though Secretary-General Gil refrained from showing it outwardly out of consideration for the eldest son, he felt like giving Seok-won a round of applause.
"If everything unfolds as you planned, Donghae Group will have no choice but to abandon its attack on Mido Department Store. So, what's your next move?"
Chairman Park Tae-hong, now noticeably more relaxed, asked,
"We've suffered significant losses—both financially and emotionally—because of this incident. We can't just let them walk away unscathed, can we?"
"Exactly! Well said!"
Chairman Park eagerly agreed, and the other two nodded in unison.
Seok-won's eyes glinted coldly, like a predator eyeing its prey.
"They may have walked in freely, but they won't be able to leave the same way. And I intend to make sure we're fully compensated for our losses."
Pleased with the answer, Chairman Park's face broke into a wide smile.
"Just hearing that makes me excited already."