Chapter 51
Chapter 51
Translation: Godtl
"At this rate, the entire nation will know."
"Right? Every media outlet is blasting nothing but positive news about Hanjong Shipping."
As expected, Kangsung is Kangsung after all.
I'd wondered what method they'd use to strangle Neriot to death.
Chairman Kangsung Ho mobilized Jintetsu Group, which Kangsung currently has in its grasp.
They were using Jintetsu—which operates department stores, hotels, and distribution networks—to generate favorable market news.
Frankly, anyone who truly understands Jintetsu's situation would recognize this so-called positive development is likely fabricated.
But in a stock market that thrives on good news and dies on bad, what difference does that make?
Just as Neriot had deliberately spread malicious reports and articles, Kangsung was bombarding all media outlets with news suggesting Hanjong Shipping was about to skyrocket at any moment.
"This shows Kangsung Group's strategic brilliance. Announcing a major contract with an overseas corporation like Jintetsu is far more palatable to the public."
"What's more surprising is Daegwang's involvement. This... we can't possibly call it a coincidence, can we?"
"Absolutely not. Daegwang also suffered major losses from Neriot in the past. Plus, everyone knows Kangsung and Daegwang have famously bad blood. For them to collaborate now means..."
"It proves Neriot has become public enemy number one."
In the past, Kangsung and Daegwang constantly battled for the top spot in corporate rankings.
Though Kangsung has now grown so large that the gap has widened, their historical grudges remain, making their notorious rivalry common knowledge.
Yet this time, the two companies joined hands.
"But would Daegwang really help Hanjong Shipping? Aren't they just paying lip service with this positive news?"
"Honestly, this isn't the time for Daegwang and Hanjong to fight. Daegwang Shipping is barely hanging on by a thread. It might actually be better for them to cooperate and demonstrate how our country's trade system surpasses others."
Of course, Daegwang had its own reasons for getting involved.
While crushing Neriot was appealing, if Hanjong collapsed too, Daegwang would likely be next.
Being in the same industry, they're natural competitors who might benefit from each other's downfall—but right now, joining forces to overcome this crisis seemed the wiser move.
"Plus, our nation's retail investors have given this a huge boost. Posts about saving the collapsing Hanjong Shipping through collective action spread through online communities, and soon everyone started buying shares piece by piece."
Hanjong Shipping's stock price is now soaring at a terrifying pace.
After its market cap plummeted to the mid-2 trillion won range, it rebounded past 3 trillion, smashed through the 4 trillion barrier, and is now eyeing 5 trillion.
My 1 trillion won injection and the subsequent positive news created the first pump, retail investors ignited the second wave, and then institutions and foreign investors who'd been dumping shares jumped back in—launching this thing like a rocket.
"If this continues, we'll easily surpass 50%. Honestly, it's scary how far this might go."
"I wonder how the Neriot bastards feel looking at this chart right now."
"Wow. I just imagined it. They're probably too shocked to even get chills."
I briefly imagined it too.
If I were the one shorting instead of Neriot, how would I feel right now?
Probably just staring blankly at the screen in a daze, right?
＊＊＊
"..."
Every employee at Neriot Management wore the same expression.
Blank stares fixed on their screens.
Normally during a short squeeze, people break out in cold sweat, panic, and scramble to salvage the situation.
But this was beyond that.
Which is why they sat there utterly dumbfounded, completely disconnected from reality.
"...How the hell did this happen?"
Robert Stinger, founder and CEO of Neriot Management, felt a throbbing headache.
Due to the recent Mocseg-Fonseca incident, funds he'd stashed there under investigation had been frozen. He'd gone to resolve the issue when this disaster struck.
"No matter how I look at it, this was supposed to be our payday! Why has this happened?!"
Managers for each project prepare reports and strategies before initiating aggressive investments.
Given the enormous sums Robert handles, he doesn't micromanage every detail.
He just skims reports and approves what seems reasonable.
That's why this was so baffling.
Even at a glance, the Hanjong Shipping play should have been a massive payday for Neriot.
Instead, the exact opposite occurred.
"According to our investigation, it appears Kangsung, Daekwang, and Gwangun set a trap for us."
"Are you saying our positions were exposed?"
"Yes. While we successfully established our positions, the Hanjong Group's owner and executives dumped most of their shares, drawing attention—which naturally exposed our positions as well."
Having positions exposed doesn't necessarily mean forced liquidation.
But when two major corporations deliberately intervened to destroy Nerriot despite gaining no benefit themselves, the reason was simple.
They wanted revenge.
"Those petty bastards! Running a company based on emotions?!"
The problem was that the blade of vengeance was far too sharp.
"The real disaster is that we took a 300 billion won short position—with double leverage."
"What—what?! No. Leverage? What kind of madman would apply double leverage on 300 billion? I never approved such a report!"
"W-well... it was mentioned in the report. At the time, the brokers hadn't yet approved the leverage."
But given Nerriot's scale, the brokers likely deemed double leverage acceptable—and approved it.
That was the beginning of the disaster.
"Originally, we were supposed to make an enormous profit this time. Everything was going according to plan. But suddenly... this..."
"Who's the damn manager responsible? Why isn't he showing his face?"
"...After the crisis hit, all the project managers involved went completely off the grid."
"Those irresponsible bastards!"
Prime brokers rarely approve leverage for positions in the hundreds of billions.
But if the asset management firm is large and well-backed, exceptions are made.
That convergence is why the losses are now snowballing exponentially.
"Current losses have already reached hundreds of billions. Worse, our company funds alone can't cover the margin required by the brokers. We need to make up the shortfall..."
The executives' eyes turned to Robert.
A silent pressure—urging him to pour his own money into salvaging this crisis.
That's how asset management firms operate.
Nerriot manages over 30 trillion won in assets, but the company's actual capital is less than 1% of that.
Because they're too busy pocketing all profits as performance bonuses.
Why use their own money when they can invest clients' funds?
"Are you all insane? You expect me to cough up cash—hundreds of billions? Maybe even trillions? This mess wasn't even my fault!"
"But if we don't act, we face forced liquidation. Worse, if we're liquidated, our credit rating will plummet—and clients will likely withdraw all their funds."
"Rumors of our exposed positions and impending liquidation are already spreading. Clients are pulling out one by one. We need a solution fast."
It's public knowledge that Robert's personal wealth reaches trillions.
But even he's on the verge of losing it.
Because he stashed funds in Mossack Fonseca to evade taxes and hide assets, he can't even save his company now.
And someone's deliberately amplifying the rumors.
Clients are swarming to withdraw their money.
"Stall them. I can't do anything right now."
"But how—?"
"You must have other investments scattered around. Use those to buy time."
"W-what? That—that would be embezzlement without client consent."
"I know. But do you want forced liquidation and bankruptcy? I've protected this place for forty years! I'll handle the fallout later."
They'd tormented countless companies for profit.
Sometimes even crushing them.
But karma, it seemed, had arrived all at once.
Robert felt like he was paying every delayed debt in one brutal installment.
＊＊＊
[Robert Stinger, CEO of Nerriot Management—a major overseas hedge fund—has been arrested on charges of embezzlement, asset concealment, and tax evasion. The arrest is linked to Nerriot Fund's activities in Korea, where it placed massive short positions on Hanjong Shipping before being caught in a short squeeze...]
Nerriot, trapped in the short squeeze, seemed to hold out to the end—but ultimately liquidated all positions and surrendered.
Until that moment, I'd thought Neriot had resolved their forced liquidation using their own assets before the company collapsed.
But as it turned out, they had patched the holes with client funds from other funds they managed, and when that came to light, a massive financial scandal erupted.
"Look at that face—he looks like he's about to lose his mind from sheer injustice. Unbelievable. I should record this and play it back whenever I'm feeling down."
"You seem to be enjoying this quite a bit."
"Of course I am. Revenge is downright exhilarating. My father should've lived to see this—"
Kangsung Chairman Kang Sung-ho raised his glass with satisfaction as he watched Robert being dragged away in handcuffs.
"But usually, financial scandals like this take forever to investigate, and they often get swept under the rug, don't they? This one moved surprisingly fast."
"It had to. That bastard just blew through 300 billion won of client money. And guess where that money came from? A lot of it was from politicians, believe it or not. They're furious right now because their cash just went up in smoke, so they're beating the hell out of him behind the scenes. On top of that, everyone who's ever been screwed over by Neriot saw this as their chance to pile on."
Behind the scenes, the Kangsung Group had played a quiet but crucial role.
They had spread the word—not just domestically but overseas—that Neriot was about to be forcibly liquidated and that all its funds would vanish.
As a result, clients who had entrusted their money to Neriot rushed to withdraw their funds, and in the process, it was revealed that Neriot had been using client money to cover their losses.
"Thanks to you, Director Jeong, a decade-old grudge has finally been settled. I'm grateful."
"What did I even do? Kangsung and Daegwang handled everything."
"That's not the point. What matters is who brought us together. Look around—it's not just our two groups. Every company overseas that's ever been screwed over by Neriot is stepping forward now. You're the one who sparked this global alliance, Director Jeong."
Not that I had planned for this outcome.
But Neriot, a company managing a staggering 300 trillion won, had collapsed in a single blow.
Hanjong Shipping had been the domino that toppled the giant.
"Looking at it this way, the financial world is terrifying. A company that seemed perfectly fine on the surface crumbles in an instant once all its clients turn their backs and pull their money out. Honestly, I never expected things to escalate this much."
I hadn't dreamed it would spiral this far either.
"Speaking of which, Director Jeong—what are you planning to do with the shares you're holding now? I hear your stake has surged past 40%."
"That's right. The stock price has doubled, too."
"Wow. You turned 1 trillion won into 2 trillion? It's been ages since I've seen a domestic stock double in such a short time."
For a Korean stock to double in value this quickly—like some U.S. stocks do—is no small feat.
It was nothing short of a manic surge.
But I still hadn't sold.
"Think it'll keep rising?"
"No."
Truthfully, I'd hovered my finger over the sell button more than a few times, but no signal came.
No—to be precise, the sell button had turned such an ominous, deep red that it felt like pressing it would be disastrous.
So I didn't.
"Smart. You know what would happen if you dumped your shares now, right? You'd end up looking just as bad as those Neriot bastards."
The insane surge in stock price had multiple catalysts, but one major factor was the widespread knowledge that Gwangun Securities was pouring money into the front lines.
Sure, securities firms invest to make money—that's their business.
But the problem was that Gwangun had been framed as some kind of savior, stepping in to rescue the retail investors trapped in Hanjong Shipping.
"Don't get me wrong—I didn't plant those articles. That was Neriot's last-ditch effort. They couldn't go down alone, so they took a final dump on their way out."
"I know."
The ones who'd spun us as heroes were none other than Neriot themselves.
They couldn't let Gwangun, who'd handed them their demise, walk away clean, so they slapped this image on us before vanishing.
They were something else, really.
Even in their death throes, they had to be petty.
"Thanks to that, Gwangun can't offload its shares now either."
"If we dumped them now, we'd be crucified. Neriot practically painted us as heroes on their way out, didn't they?"
They were always good at PR, those bastards.
They turned us into some kind of messiah before kicking the bucket.
"Still, if you'd really wanted to sell, you would've found a way. Securities firms are experts at that kind of thing."
"True. There are ways. I just chose not to."
But every time I tried to press the sell button, my instincts stopped me.
The button itself turned a sinister shade of red, as if warning me not to touch it.
"You did the right thing. If Gwangun had tried to dump all its shares, we would've been in real trouble."
"Huh?"
"I just got a report about this too. Looks like the Financial Supervisory Service had been eyeing Gwangun for a while, waiting for the right moment to strike. With Gwangun raking in massive profits, other competing financial groups have started getting wary. Especially the KS side."
KS is currently the top financial group in South Korea.
"Probably applied some pressure there. Claiming Gwangun Securities looks suspicious. Honestly, looking at their profit margins, it doesn't add up. So if Gwangun had sold off their Hanjong Shipping shares, they were planning to launch a media blitz and thoroughly gut them. Tying them up with stock manipulation charges and other allegations."
"But since they didn't sell, they can't do that now."
"Right. If they tried now, they'd face massive public backlash. Look at the public sentiment. Gwangun Securities is being hailed as the righteous savior who rescued countless retail investors, isn't it?"
The irony that Neriot was the one who created that image was almost laughable.
Neriot probably hoped we'd be stuck holding the shares, squirming in distress.
"So what's the plan now? Even though the stock price got pumped up, it's practically guaranteed Hanjong Shipping will collapse soon."
Securities firms just buy and sell.
They never actually manage businesses.
But this time, it seems we can't stick to that principle.
"I can provide oxygen support."
"How?"
"Making that news about signing a contract with Jintetsu Group real."
"Seriously?"
"Yeah."
But Chairman Kang Sung-ho had no reason to extend such goodwill.
If the other side gives something, naturally we'd have to offer something in return.
"It's not for some official reason. It's personal. Director Jeong did the revenge I couldn't carry out. Plus... my late father had quite the score to settle with Neriot too. Those bastards made his final years hell."
His voice slightly choked, Chairman Kang quickly downed his drink.
"My father's probably laughing his ass off in the afterlife right now. Consider this repayment."
For repayment, it was quite substantial.
If we really signed with Jintetsu Group, Hanjong Shipping could get its oxygen tank.
But that still leaves the future uncertain.
Thanks to Neriot, our company became a national hero.
Yet we're stuck unable to sell our shares.
And we can't manage a shipping company with zero experience.
"Ah, and this."
"What's this?"
"A list of institutional investors and current executives holding shares in Hanjong Shipping. Detailed personal information included. Since things have turned out this way, might as well try to salvage it without losing money."
"You didn't have to go this far..."
"If a company we're signing with Jintetsu suddenly collapses, what are we supposed to do? Take it. I'm doing this for myself."
I scanned the list Chairman Kang handed me.
As expected from Kangsung intel, it was extremely detailed.
One thing was clear—most Hanjong Group affiliates had already dumped their shares, leaving barely any left.
They saw the writing on the wall and bailed faster than anyone.
Yet they shamelessly clung to their executive titles.
"Whether you'll work with those bastards or skin them alive, discuss that well with President Hwang. The company's already a mess... It won't be easy. Kicking out the existing guys isn't necessarily the solution either. They know the company systems—even if you replace them, it'll be tough."
I know.
But how can I discern that from this alone?
Honestly, I'd rather just wipe them all—
"...?"
That's when it happened.
'This is—'
Around the time I'd finished scanning most of the list.
Starting from my thumb, something like multicolored paint began spreading across the page, coloring each listed person one by one.
Most executives turned so red their faces became indistinguishable.
Except one single person remained tinged blue.
'What's different about this one?'
Most other executives were either Hanjong Group relatives or transplants from elsewhere.
But the sole blue-tinged name—Kim Du-yeong—was an executive who'd genuinely climbed from the bottom over decades.
'He didn't even sell his shares. Held onto them till the end.'
While every other executive dumped their holdings, this man retained his shares, however small.
You could almost feel his determination to protect the company he'd devoted his life to.
"Judging just by that might be hard. So think carefully before deciding."
"Yes, I'll have to. Thank you, Chairman."
"Don't mention it. If you're really grateful, I'll set up a position soon, so then—"
I didn't even hear the rest.
Because my mind was completely filled with nothing but the list my intuition had shown me.
Who needed to be cut down, and who needed to be brought along—things like that.
Thanks to that, I've made up my mind.
Now, all that remained was the time for purging.