Earned 20.6 Billion Won [Who Received Sexual Favors from Nemo Entertainment?]
A few weeks ago, an incident rocked South Korea. It involved gangsters. One might think organized crime doesn't exist in the 21st century, but police arrested Kim Dong-su, a lingering loan shark, last month on the 00th. In the process, he exposed the high-ranking officials and politicians who had taken his bribes.
Amid the uproar connected to that case, another scandal erupted at Nemo Entertainment, where Kim Dong-su was the majority shareholder.
It started with trainee Lee OO posting on her SNS. She confessed that in the past, manager Kim (some guy) had dragged her to one of Kim Dong-su's drinking parties. Moreover, at the party, Kim (some guy) made her sit right next to Kim Dong-su... (excerpt omitted)... She was just 17 at the time, still in high school, which amplified the backlash.
Netizens weren't idle. The moment they saw the articles, the online detective squad sprang into action, digging up everyone involved.
In that situation, Kim Mincheol's face drained of color in an instant.
He could feel it too.
'Fuck...'
Nothing left to do but realize he was screwed.
Turn on the internet, and it was flooded with curses aimed at him.
And that wasn't all. People who knew him started contacting him.
Pure vitriol and insults. Even those pretending to worry tacked on sarcasm.
No one was genuinely concerned for Kim Mincheol. Except maybe his family.
'Shit...'
But that offered no comfort right now. He didn't even want to see his family. Couldn't face them.
How could he show up at home as the world's biggest sinner?
And anyway, he couldn't. Not anymore.
Ding-dong.
"Mr. Kim Mincheol, are you home? It's the police. From Mapo Police Station."
The doorbell rang at his villa. Late at night, but here they were to arrest him.
In the end, Kim Mincheol was handcuffed and taken away.
"You have the right to an attorney, the right to remain silent..."
The cop recited Miranda rights half-heartedly. Their gaze on him wasn't kind either.
Kim Mincheol covered his cuffed hands with a towel and threw on a hat and mask.
"Tch."
One cop eyed him with disdain.
He couldn't lift his head. Fear, mostly.
And the moment he stepped out of the villa...
He jumped. Flash! Flash!
In Korea, personal info was public domain, after all. Reporters swarmed his doorstep, cameras snapping away.
Articles exploded with more comments. The whole world was trashing him and Nemo Entertainment.
Entertainment lived on image. A scandal this massive was catastrophic.
Soon, more trainees and idols posted exposés. The #MeToo wave began.
It wrecked their images too. And that tanked Nemo Entertainment's stock.
Market hadn't even opened, but everyone knew.
'Nemo stock's gonna plummet!'
Gulp. Savvy traders realized.
'Fuck! This market's filthy. They shorted knowing this!'
They knew about yesterday's short selling. And the massive put options held by some force.
How high would those option prices skyrocket now? How much would that force rake in?
In a world where your cousin buying land makes your stomach ache.
"This is why the rich get richer!"
Those in the know fumed. Institutions panicked, calculating losses if options were exercised.
"Hurry, come up with countermeasures!"
"What the hell is going on?"
Put options meant "right to sell." Regardless of market price, the right to sell shares at a set price.
Even if it crashed way below, the option seller had to buy at the agreed price when exercised.
'Damn it!'
Massive projected losses. Institutions scrambled to buy back options—or all available ones.
But they couldn't. Shin Jaewoo had absorbed it all.
And naturally, he wasn't selling.
"...Use any means to recover them!"
Institutions hustled.
The market finally opened.
Nemo Entertainment closed at 7,130 won yesterday. But at open, it plunged like a waterfall.
Down over 10% right away. Now at 6,330 won—and still dropping.
"Whoa."
Shin Jaewoo watched with glee. More thrilling than firing off star balloons in Excel.
'Nah, maybe not.'
He'd have to visit again to celebrate this win. But for now, the dopamine rush was here.
"Price keeps falling."
At this rate, it'd break 6,000 won. And it did.
Dipped to 5,990 won.
"How low will it go?"
Tons were trapped.
It dropped more. Now 5,519 won.
Only 22.6% down so far. Plenty of room to lower limit.
'It's crashing.'
Shin Jaewoo's eyes sparkled. It could've bounced, but no rebound.
Straight down to 25% drop: 5,347 won.
Luckily, that's where it closed.
But Shin Jaewoo knew better.
'Not over yet.'
He could've taken profits. But more to come.
After close, fresh exposés hit. Company scandals, tax audits incoming.
Tax audit alone was poison in this country.
Next day: Opened and shed 15% quick. Down to 4,507 won.
From near 8,000 won? Insane drop.
"Making money... is easy."
Shin Jaewoo muttered watching it.
Used to be hard. But even buying back shorts, his profits...
'Sold short at 7,900 won...'
Now 4,507 won. No, dipped more. 4,400 won.
Roughly 3,500 won profit per share. 44.3% return.
'Spent 3 billion on it...'
About 1.33 billion won from shorts alone. If realized now.
'Just gotta stay ruthless...'
More gains possible. But even his heart raced now. He got the "beast heart" saying.
"Whew. Let's cash out here."
Exposés seemed done. Time to flip to profits.
Bottom-feeders desperate to exit the pit. Missed lower limit, but bottomed out.
Or so he thought.
"...Huh?"
Something stopped him. Massive dump hit the market. Unreal volume.
'This is...'
Shin Jaewoo's eyes widened.
Finally: 3,750 won. Minus 29%.
Lower limit.
Lee Sooyoung glanced at Shin Jaewoo.
'No way he predicted this exactly.'
As his secretary, she'd learned of his haul. Short selling netted about 47.5%: 1.425 billion won.
Scarier still: the options.
His put options.
"How much did we make?"
Strike: 7,800 won. Stock at exercise: 3,750 won. Spread: 4,050 won.
Average buy: 200 won. Net: 3,850 won.
"...19.25 billion won."
He'd only put 1 billion into options. Nemo was too small for more.
19.25 billion.
"...How much?"
These days, blowing cash freely, it didn't shock like before. Especially post-foundation and slush funds.
Still, absurd amount. Matched his Seongbuk-dong mansion price.
'Combined...'
Total: roughly 20.6 billion won earned.