Chapter 38
Chapter 38
It was difficult to understand why that was inside Beomhan Resources.
When I checked the report, there was a reason.
First, the shares recorded in the ledger were physical stock certificates. And the name was not Goguryeo Zinc.
The stock name was Ajunikel Metals.
According to the report, Ajunikel Metals and Goguryeo Zinc had merged decades ago. At that time, the president of Beomhan Resources who owned these shares never changed them into Goguryeo Zinc shares.
On top of that, the amount recorded in the ledger was only one billion won. The par value had been recorded as the asset value. After the original price had been written in the ledger, it had never been updated.
This was something commonly seen in companies with a long history.
There were even companies that owned five hundred pyeong of land in Myeongdong but still listed the real estate value as one billion won in their company ledger.
The due diligence team at Mirae Securities registered the physical stock certificate with the securities depository and received Goguryeo Zinc shares.
That turned out to be a five percent stake.
It was unexpected luck.
President Choi Beomsu of Goguryeo Zinc had probably rushed to buy Beomhan Resources because of this stake.
Otherwise there would be no reason to acquire it for the enormous sum of two hundred billion won.
But Yeongpo had also participated in the public auction.
That meant Yeongpo wanted to secure Goguryeo Zinc shares.
Why?
Formally, Goguryeo Zinc was an affiliate of Yeongpo, which was run by the Jang family. They held a considerable amount of shares.
However, the largest shareholder of Goguryeo Zinc was the Choi family of Choi Beomsu. Even though the companies were affiliated, they had been managed independently for years.
But seeing both sides compete to secure this five percent stake meant there was a serious conflict between the two families.
The reason they were competing for shares was simple.
Control of management.
By securing this stake, Yeongpo wanted to take over Goguryeo Zinc, and Goguryeo Zinc wanted to stop them.
Why?
Why would two families who had managed peacefully for decades suddenly point knives at each other?
“What are you thinking about, Team Leader Kim?”
Noona asked.
“Yeongpo and Goguryeo Zinc.”
“It feels like something interesting is about to happen, right?”
It was obvious that she was thinking the same thing as me.
But why was she using honorifics?
It felt distant.
Was she trying to create distance between us?
Surely not.
I pushed that thought aside for later.
“I think we can make a lot of money between Yeongpo and Goguryeo Zinc.”
“That’s right. But how did you know this was inside Beomhan Resources?”
“What? I didn’t.”
“Didn’t Goguryeo Zinc try to buy this for two hundred billion won and you rejected it? You didn’t know this was there?”
“No. I only thought there was treasure. I didn’t know it was shares.”
Because noona was speaking politely, my tone also changed.
The distance between us felt bigger.
“That’s impressive. If it were me, I would have sold it immediately.”
“No. I was just lucky.”
Noona returned to her office.
Something suddenly bothered me.
President Choi Beomsu was a man whose cunning and slyness clung to his face.
That kind of man had offered two hundred billion won to buy Beomhan Resources. That action alone made the other party think there must be something inside Beomhan Resources worth more than two hundred billion.
Even beginners in negotiations would not do something like that.
What was Choi Beomsu’s intention?
Did he really want to buy the shares?
For a moment I wondered if he had deliberately inflated the purchase price.
He offered two hundred billion to me, and I rejected it.
Then unless Yeongpo offered more than two hundred billion, I would not sell.
Was he trying to prevent me from selling?
Was he just trying to buy time?
During that time, would he secretly purchase shares to widen the gap between Goguryeo Zinc and Yeongpo?
Various scenarios floated through my mind.
This was not something to think about alone.
We needed a meeting.
For now I waited for the market to close and watched Youngmi Pharmaceuticals again.
It was still declining.
I imagined closing the position, but there was no scent.
That meant the stock would fall further.
For now, I decided to hold.
The market closed.
I immediately called a meeting.
“This is urgent. Yeongpo and Goguryeo Zinc may fight over management control.”
“Really?”
“Yes. Please investigate this in detail. As soon as you’re ready, we’ll begin the meeting.”
“Yes.”
As soon as I finished speaking, every team member began gathering information using phones and messengers.
Two hours later.
“We’re ready.”
After briefing the two companies and the two families, Deputy Manager Choi Choongsik explained the current atmosphere.
“They say the atmosphere between the two families is not like before. But the market believes they will not actually try to seize each other’s management control.”
“Hmm. I think Yeongpo is targeting Goguryeo Zinc.”
Deputy Manager Choi expressed a different opinion.
“That doesn’t match Chairman Jang Sugi of Yeongpo. He is not someone who covets what belongs to others.”
“I’ve heard the same about him. But seeing Yeongpo participate in the public auction makes it clear they are aiming for management control.”
“I agree with the team leader. Goguryeo Zinc is currently the world’s number one nonferrous metal smelter. And for the past ten years they have developed semiconductor materials and secondary battery materials and are supplying them. It’s tempting. In front of money, there is no merchant who refuses.”
“Wait, semiconductor materials? That means it will grow even more.”
“That’s what the market expects.”
“Oh, and there’s also a rumor that Chairman Choi Beomsu has been visiting Japan frequently.”
“Japan?”
“Yes.”
Semiconductor materials and Japan.
When those two things connected, Japan’s export restrictions came to mind.
Because of companies like Goguryeo Zinc, Korea had been able to avoid major damage from Japan’s export restrictions.
But why was he going to Japan?
Was there a special reason?
It did not seem like the most important issue.
The discussion continued after that, but nothing was certain.
Only speculation filled the room.
For now, we wait.
With shares already in hand, waiting was the only thing we could do.
Of course we could buy more shares, but for some reason I did not feel like doing that.
“Let’s end today’s meeting here. Pay attention to security. And as for Youngmi Pharmaceuticals, we are holding. If we wait, we can make more profit. The Goguryeo Zinc issue is important, but let’s finish the Youngmi Pharmaceuticals trade first.”
“Yes.”
“Everyone worked hard staying late. Let’s go home.”
“Yes.”
After returning to my seat, I realized I had forgotten something important.
I needed to check which choice would make money.
Which company produced the scent.
First I imagined selling the shares to Goguryeo Zinc.
A scent appeared.
Then I imagined selling to Yeongpo.
There was also a scent.
But the two scents were different.
Why?
After falling for two days, Youngmi Pharmaceuticals’ stock stopped declining and turned upward.
But I was not worried.
This was just a technical rebound.
On the Youngmi Pharmaceuticals board in the stock community, the dominant opinion was that the stock would rise again. The reasoning was its strong technology, large assets, and high domestic market share.
They claimed the current price was an overshooting undervaluation and a panic sell situation.
But in my opinion, that was just self consolation.
Technology?
Assets?
Market share?
The foundation of all of those was trust.
When trust disappears, no one believes anything anymore.
Even if the company claims excellent technology or large assets, people will not believe it.
Numbers can be manipulated easily if someone decides to.
Right now Youngmi Pharmaceuticals had lost trust.
The company should apologize to shareholders and take drastic measures like forcing management to step down.
But there was no sign of that.
A message appeared.
Kim Yuri Director.
Team Leader Kim, are you still holding Youngmi Pharmaceuticals?
Director Kim.
No, Yuri noona.
At some point, Yuri noona had become more natural to say.
At the company I called her Director, but when we were alone I called her noona.
The same applied to phone messages.
In group chats we used titles, but in private messages we were just noona and Deoksu.
But Yuri noona was suddenly being formal in the company messenger.
Even though this was a one to one conversation.
Team Leader Kim Deoksu.
If you keep being formal even in private messages, I will also be formal. Director Kim Yuri.
Director Kim Yuri.
Of course we should be formal. You are the ace team leader of Mirae Securities.
Team Leader Kim Deoksu.
Ah yes. I understand. Director Kim Yuri.
Director Kim Yuri.
Are you sulking?
Team Leader Kim Deoksu.
Who is sulking?
Director Kim Yuri.
Hehe, Team Leader Kim should understand. If I keep calling your name casually, I might start treating you too carelessly.
As if that would happen.
She already respected me plenty when other employees were around.
Team Leader Kim Deoksu.
Do as you wish. Director Kim Yuri.
Director Kim Yuri.
Oh dear, our Deoksu is sulking.
Team Leader Kim Deoksu.
I’m not sulking.
Director Kim Yuri.
You seem like you are. Be honest. You are sulking, right? Right? Hehe.
Her attitude made it seem like she saw me as too young.
Usually it did not bother me, but today it did.
Even her usual cute hehe annoyed me.
Team Leader Kim Deoksu.
......
Director Kim Yuri.
Hey sorry. I won’t do it anymore. Sulky boy.
Team Leader Kim Deoksu.
Hey! Kim Yuri, I said I’m not sulking! Don’t treat me like a little brother.
Director Kim Yuri.
......
She did not reply.
Did I react too strongly?
Was she really angry?
I should apologize.
Just as I was about to send a message, one arrived.
Kim Yuri.
Deoksu… are you very angry? Sorry. I was joking too much. And… I don’t treat you only like a younger brother. Don’t misunderstand.
The phrase not only like a younger brother.
It contained many meanings.
It made me smile.
Team Leader Kim Deoksu.
Alright. Apologize properly.
Director Kim Yuri.
Okay. I’m really sorry.
Team Leader Kim Deoksu.
I’ll forgive you just for today. Next time I’ll scold you.
Director Kim Yuri.
Okay. I’m really sorry. Are you feeling better now? Hehe.
My mood had already improved.
Her hehe was too cute.
I wanted to see her smiling face.
I stood up and walked toward the elevator.
“What… what is this…”
Kim Yuri muttered to herself.
Deoksu getting angry.
Speaking casually.
Calling her Kim Yuri instead of noona.
She should feel upset.
But instead her face grew hot and her heart pounded.
It was different from the gentle and considerate Deoksu she always knew.
He looked manly.
Bold.
She never thought it would suit him.
For a moment she felt like being scolded by him.
Wanting to be scolded.
Kim Yuri shook her head.
“Ah… I must be crazy.”
Just then someone knocked.
“Who…”
Before she finished speaking, the door opened.
Kim Yuri’s surprised eyes saw Deoksu standing there with a blank expression.
Is he still angry? What do I do? Is he going to scold me?
Thinking that made her cheeks turn red.
She was now certain she had gone crazy.
Deoksu walked toward her.
Kim Yuri became nervous.
“Noona, have this.”
He placed something on the desk.
It was the sweet coffee she liked most.
A smile appeared naturally.
“Oh, what’s this?”
“I’m sorry for getting angry earlier.”
“No, it’s fine. I was the one who was wrong.”
“In the future… please don’t treat me like I’m too young.”
“O okay. I won’t! Really!”
“Alright. Anyway, if you do it again, I’ll scold you.”
Her heart pounded.
“O okay.”
Deoksu turned and left.
Watching his broad back, Kim Yuri wondered how he would scold her.
And she could not understand why her heart was beating so fast.
She had two dimples.
After seeing her smiling face, I returned to my seat.
I looked again at Youngmi Pharmaceuticals.
The stock price was still falling.
I entered the Youngmi Pharmaceuticals community and checked the atmosphere.
The message board was filled with criticism toward the company.
A member of the owner family had been arrested with the stock manipulation group.
The company remained silent about the issue.
But it could not be hidden.
People already knew who had been arrested.
Online investigators revealed the culprit in less than an hour.
It was Jin Taehyun, the son of the chairman of Youngmi Pharmaceuticals, who had not come to work recently.
He had colluded with the manipulation group.
Problems like this needed to be addressed quickly with an apology.
But the company seemed more concerned about the feelings of the owner family than the shareholders.
They remained silent.
That silence would push the stock price down even further.
I imagined closing the short position.
As expected, there was no scent.
It would fall more.
Youngmi Pharmaceuticals had closed the previous day up five percent due to a technical rebound.
But after a brief rise, it immediately began falling again.
Disappointed by the company’s response, shareholders began panic selling.
The decline intensified.
The return rate was now thirty two percent.
That was more than enough profit.
“Team leader, are you going to maintain the position?”
The prop traders asked.
“Hm…”
We had invested twenty billion won and earned 6.4 billion in profit.
There was no need to be greedy.
This was enough.
I was about to close the short position.
Then I stopped.
I should check the scent.
I imagined closing the short position.