The First Domino
Taewung Life Insurance Gangnam Tower, Chairman Kim Young-hoon's office.
Ring, ring.
Chairman Kim Young-hoon raised his head at the sound of the telephone shattering the silence. He picked up the receiver.
"This is Kim Young-hoon of Taewung Group."
—Ah, Grandfather. It's Kim Sung-woo.
His heart skipped a beat. It was the first time his grandson had ever called him first, leaving him utterly dazed. He held his breath, waiting for the boy's next words.
—I've caught a big fish. Care to listen?
"A big fish? What do you mean?"
—Are you aware of the charity auction held today at the Five Seasons Grand Party Room?
Of course he knew. It was a run-of-the-mill playground for tax evasion and money laundering, centered around Seoul Mayor Kang Minwook. But what was there to gain from those small fry? Chairman Kim Young-hoon tilted his head in confusion.
"I know of it. But is there really anything of value to be found there?"
—Yes, there's a very sly fellow. It might take some time to explain, is that alright?
Although calling this a warm, harmonious conversation between grandfather and grandson would be a stretch, this moment was incredibly precious to Kim Young-hoon. Above all, his grandson had personally brought him a major lead. Chairman Kim Young-hoon's eyes gleamed.
"I have more than enough time."
"Haha, so you're saying if we just trip up this Jang Do-hyung fellow, the rest will fall like dominoes?"
—Exactly.
Unilabs. It was the parent company of 'Solar', the cryptocurrency that had been rising in popularity lately. According to his grandson... they had to bring down Unilabs before the massive Ponzi scheme Jang Do-hyung was ambitiously planning could blow up. That way, Mayor Kang Minwook and all the other accomplices tied to him would naturally collapse together.
"But we lack a justification. For Taewung to step in directly, there must be a corresponding payoff."
If Taewung moved directly, it would complicate a myriad of things. Of course, there was absolutely no reason for a giant like Taewung to fear swallowing up mere small fry. However, to set a giant in motion, a worthy spoil of war had to be offered.
—No, there's more than enough justification.
And his clever grandson had undoubtedly seen through all of it. Chairman Kim Young-hoon spoke, his voice laced with anticipation.
"Let's hear it then... Tell me about the board you've set up."
—Unilabs' financial state is currently no different from a time bomb waiting to go off. On the surface, it looks solid, but they've heavily manipulated their financial statements.
"What do you mean?"
—Cookie Jar Accounting. I've also captured several signs of earnings manipulation.
"Hah...!"
What was Cookie Jar Accounting? It referred to an accounting technique where a company defers earnings from high-performing periods to pad out poorer quarters. Literally, like putting cookies in a cookie jar and taking them out to eat when you're hungry. On top of that, they were guilty of earnings manipulation. It meant they had intentionally bloated their financial health.
"...Is the evidence clear?"
—I will organize the evidence I've gathered into a document and send it to you. Your role, Grandfather, is simple.
"Do tell."
—First, have Taewung Investment Securities use the evidence I provide to release a report recommending investors to hold off on investing in Unilabs. It would be even better if you harshly criticize the uncertain prospects and investment risks of the cryptocurrency 'Solar'. After that, use the media to draw widespread attention. That's where it begins.
"Haha, and then comes short selling, I presume?"
—Yes. I'll fire the first shot. Once I dump my entire 10% stake at the right moment, everyone will panic sell. A long squeeze triggered by massive selling will keep the price on a downward trend for a while.
"They won't just take it lying down."
Short selling. An investment strategy of selling borrowed shares with the expectation that the stock price will fall, allowing the seller to buy them back cheaper for a profit. In other words, betting on the stock price going down and pocketing the difference. It was also known as taking a short position. Of course, the target wouldn't just sit back. They would try to defend the stock price by buying shares, even if they had to take out loans.
—From then on, it's war. A war won by whoever has more money.
A grin spread across Kim Young-hoon's face. He couldn't suppress his laughter.
"There is no one on this Korean soil with more money than Taewung."
—I'll take that as an agreement. Goodbye then.
A thrill ran down Kim Young-hoon's spine, making his entire body shiver.
I am not overflowing with justice, nor do I care to judge good and evil with my meager discretion. Then why am I going this far?
That obnoxious bastard.
How dare he think of using me as a pawn on his chessboard? It was utterly offensive. Above all, now that I knew about his malicious financial terror operation, I couldn't just stand by and watch. If Jang Do-hyung's bomb exploded after fully building up its destructive power, the aftermath would be uncontrollable.
Even though I was entangled with Chairman Kim Young-hoon again, it was a mutually satisfying deal, so I had no complaints. I've said it many times, but I hate getting caught up in annoying things. I have zero intention of running a business or investing. I just want to spend the rest of my life blowing money and enjoying the prestige of my status. But I'm not so cold-blooded that I can turn a blind eye to the tears of blood that tens of thousands of people would shed. At least now, with my lies becoming reality, I've resolved to live without caring about what others think.
"Severe Accounting Manipulation and Near-Fraudulent False Advertising, Illegal Investment Contracts"... Taewung Investment Securities Steps Up
Taewung Investment Securities, South Korea's No. 1 investment research firm, recently released a negative report on the performance outlook of Unilabs, recommending investors to hold off on investing.
According to the report, Unilabs' performance has recently plummeted, and its financial state is highly unstable. Furthermore, suspicions of illegal accounting practices have been raised with clear evidence, leading to analyses that investment risks are mounting.
...
Taewung Investment Securities is taking a stance of advising investors to hold off for these reasons.
It seemed Chairman Kim Young-hoon had started swinging his sword in earnest. Current time: 9:00 AM. Right at the market open, Unilabs' stock price began to plunge spectacularly into the negatives. Sorry, but I haven't even started yet. Now is the perfect time to fire the first shot. A smirk played on my lips. Let's see how you like the taste of a 15-billion-won warhead.
—Hey, Jang Do-hyung, you son of a bitch!! How on earth did you handle things for it to end up like this?!
Jang Do-hyung furrowed his brow at the roar exploding from his phone.
"Instead of wasting time on the phone, you should block the media. I apologize, but I trust you know that it won't end with just me dying."
He spoke in a cold, detached voice.
—...Let's talk later.
Thud. He collapsed powerlessly into his chair.
Damn it... where did it go wrong?
Why did those bastards at Taewung Investment Securities suddenly step in and swing their sword? Above all, they pinpointed details of accounting manipulation that could never be figured out from the financial statements alone. He had spent a massive fortune to set up an accounting team to ensure absolute perfection. He clutched his forehead and groaned from the mounting headache.
"I can still... I can still fix this."
He just had to clean up the media starting now, cooperate with the investigation to buy time... and finish preparations during that bought time. Though he'd have to pull forward the existing schedule, he wasn't in a position to be picky. Above all, they still had Kim Sung-woo. He would surely have the wisdom to navigate this situation. Yes, it was too early to give up.
"Huh...?"
But the stock price, which had been holding steady at -7%, suddenly began to crash.
> [100,000 shares sold!]
> [100,000 shares sold!]
> [100,000 shares sold!]
Massive sell orders of 100,000 shares began piling up. Spurred by the crashing stock price, panic selling ensued. To make matters worse, short sellers swarmed in. He tried to defend the stock price using every means possible, but it was futile. In an instant, Unilabs' stock price plummeted vertically and hit the lower limit.
"Ha... haha... khack...!"
Driven mad by the unbearable shock, he dropped the phone from his hand.
Who was it? Who dragged in Taewung Group...?
"Could it be..."
Suddenly, the face of the guy who had looked at him with a mocking sneer at the auction flashed through his mind. Kim Sung-woo. Could it be that he designed this entire conspiracy? Taking a massive stake through the auction. Drawing attention using Taewung Investment Securities. Dumping his entire stake right on cue. And the massive short-selling forces that swarmed in instantly as if on script.
Haha... ha... khaha...!
"...That monster of a bastard."