Chapter 50

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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What is short selling?

It’s borrowing stocks.

Then do you need to pay money?

No.

You just need to pay margin and borrow the stocks.

You borrow stocks at a high price, sell them on the market, hold the cash secured from there, then later when stock prices drop, buy them again and return them.

If it’s certain that a specific stock will hit the lower limit, there’s no easier way to make money than this.

Because you just pay margin and fees to proceed with transactions.

But what if stocks you expected to drop suddenly rise?

Then a margin call occurs and you need to pay higher margin.

But if prices rise even more from here and go to Mars?

That’s exactly the day you face forced liquidation.

“Department Head. Here are the materials about Elliott Fund you requested.”

“Ah, yes. Thank you.”

The Elliott Fund currently infiltrating Korea originated from Elliott Asset Management.

The scale of assets they’re currently rolling is 30 trillion won.

Elliott is centered on activist funds, a company with very bad reputation for generating profits by digging into companies’ weaknesses and loopholes.

Including Kangsung Group, whenever they see companies with weaknesses anywhere in the world, they bite first and think later, not caring whether it’s a company or a nation.

“They have hundreds of pending lawsuits alone. They just slam lawsuits first if they don’t like something.”

“Because winning is good, and losing still makes opponents annoyed?”

“Yes. You could call it a troublemaker company. Plus they’re good at media warfare. They say everything they do is for shareholder profits, but when you dig into it, these bastards are the ones backstabbing.”

We can’t know exactly how much Elliott invested in Korea.

Being a globally active company, the 30 trillion won must be scattered everywhere.

We were just guessing that probably several hundred billion is invested in our country.

“And all that money is concentrated on Hanjong Shipping?”

“Not sure if they completely took positions or haven’t finished yet. However, they’re clearly building positions bit by bit.”

Hanjong Shipping’s market capitalization reached a whopping 5 trillion won.

But currently it has dropped to 3 trillion won.

“From Hanjong Group controlling Hanjong Shipping to institutions, everyone threw volume causing this mess. 3 trillion won is just the beginning. It’ll quickly drop to 2 trillion won, and after that it should practically be viewed as delisting. Hanjong Group also seems to want that.”

If you’re a manager with control, if you’re this company’s owner, you should have appropriate responsibility.

If only for the investors who trusted and invested in you.

But Hanjong Group isn’t particularly thinking of protecting Hanjong Shipping.

They just want to throw away shares as quickly as possible to make the company collapse, go through rehabilitation procedures and reach bankruptcy to protect their own profit rights.

“Don’t know if Elliott is really playing fixed go-stop with Hanjong Group, but not only Elliott, Hanjong Group here are also bad people. Because the captain abandoned ship faster than anyone.”

It’s a phenomenon frequently occurring to affiliates groups abandoned.

The group that has duty to protect the company for shareholders and creditors secretly sells all controlling shares then shuts their mouths tight and pretends not to know.

And to the nation they complain that they don’t have power to handle the company, so please take care of it whether it becomes porridge or rice.

Then the government would pour in innocent taxes to save the company, which was our country’s unfortunate reality.

“But seeing how they keep secretly disposing of controlling shares, seems the showdown with government already ended. If government attaches oxygen respirator, they’d have to handle the debt tied there, so they’re just trying to minimize damage by causing bankruptcy.”

“Then only creditors and shareholders will suffer damage.”

“Yes. They’re only doing good things for Elliott and Hanjong Group.”

Naturally Hanjong Group will say they have no relation to Elliott, but viewed circumstantially, the two were no different from being in cahoots.

‘It’s strange.’

Looking at things related to Hanjong Shipping through reports employees bring, blue light was shimmering like now.

But when I actually try to press the buy button, no feeling comes.

‘Does it view now as not the right buying timing?’

While pondering like that.

Buzz.

“Sent again.”

I slightly narrowed my brow seeing the name appearing in the text notification.

“Seems you got an ad text.”

“Ah. That’s not it. Lately someone keeps sending me texts. Annoyingly.”

“Who dares annoy Department Head?”

“Kangsung Group’s chairman.”

“.What?”

Section Chief Seo just blinked his eyes as if his thoughts stopped briefly.

Since returning from Japan to Korea, Chairman Kang has been sending me texts almost once a day.

Actually there wasn’t much content.

From whether I reconsidered what he said before, to how he’s currently cooking up Kintetsu Group, etc.

His first impression seemed somehow taciturn and very strict, but I didn’t know he was such a warm-hearted person.

What content did he send this time?

As I was about to check the content like that.

“.?”

The tingling intuition that hadn’t come before struck up from the phone and reached my crown. Wait. Don’t tell me this phone will also explode. No. That won’t be it.

Seems it’s not because of this phone but because of Chairman Kang who sent me a text.

‘That means.’

I woke up Section Chief Seo who was still just blinking.

“Section Chief. Section Chief?”

“Yes? Ah, yes. D-did you call?”

“If it’s Chairman Kang Seong-ho, he must really hate Elliott, right?”

“Not just hate, he must be grinding his teeth, right?”

I also think so.

Because it was Elliott that shook Kangsung Group.

‘I didn’t want to call because it’s burdensome.’

But my intuition was ringing bells in my head telling me to call quickly.

I had no choice but to press the call button.

***

“Hmm?”

Did I see wrong?

There aren’t many people who can call Chairman Kang Seong-ho directly.

Even executives don’t separately know the chairman’s personal number.

Everyone just calls through the secretary.

Such Chairman Kang Seong-ho’s phone was ringing.

Along with a welcome name on the screen.

He quickly answered the call lest it disconnect.

“What’s this? You’re calling first?”

“Yes. You contacted me first a lot, so I thought calling first out of sorry feelings is proper courtesy.”

“Then can I expect a bit? Did your mind change?”

“No. That probably won’t change for a lifetime.”

Well, actually I didn’t expect that anyway.

Rather, Chairman Kang would’ve been disappointed if he said his mind changed.

“Then what about what I asked before? I asked if you’re seeing anyone, and you said not yet? So I tried to connect you, but you stubbornly refused that too, didn’t you?”

“.I’ll decline that too.”

“Tsk. You’re really iron-walled anyway. Then why did you call?”

“Just to vent a bit.”

Vent?

In the entire world, this bastard is the only one who’d call the great Kangsung Group chairman during busy hours to vent.

“You know that Hanjong Shipping is shaking tremendously now?”

“I know. Looking at the situation roughly, angles are coming out. I heard that Hanjong Shipping is already trying to cause bankruptcy to wipe everything clean, selling all shares. But why that?”

“Because I’m thinking of entering there this time.”

“What? You’ll jump into a ship that’s completely sinking?”

It was incomprehensible.

It’s Hanjong Shipping going exactly on the path to bankruptcy according to Hanjong Group’s plan.

Why would he stick his foot in such a place?

He wanted to ask if it’s because he earned too much money and has nowhere to spend it so he’s throwing it away in such places, but Chairman Kang held back.

The opponent is Jeong Jin-ho.

He’s not someone who’d do foolish things.

“Did you hear there’s a force that heavily shorted Hanjong Shipping this time?”

Only then did he catch on to Jeong Jin-ho’s intention.

He was trying to devour those who shorted aiming for a short squeeze.

Like the hunters who flocked to Kangsung Electronics before.

“I wasn’t interested. Plus it won’t be easy? The group itself already abandoned that affiliate. Since they decided to go to bankruptcy, you can’t stop that acceleration. Rather you’ll get hit and come out?”

“Chairman. Shall I tell you who the force that took short positions is?”

“I’m telling you I’m not curious. Seems like you want to drag me into that game, but I don’t have time to care about such trivial things.”

“Elliott.”

“.What?”

“The force shorting now is Elliott, Chairman.”

“!?”

Suddenly convulsions occurred on his face.

Because just hearing that name makes his teeth grind.

Thinking of the suffering he went through because of those bastards makes his fists naturally clench.

Moreover, aren’t these bastards famous for poking around not only Kangsung but also our country’s large corporations?

“Those bastards who should be chewed up and spit out are still running wild in our country.”

“Yes. If anything, it’s worse than before, not less.”

Just hearing that name makes his heart beat fast and blood in his veins pound, so seems the accumulated anger remains.

Can’t be helped.

Because he only got hit by them, never directly returned the favor.

“Department Head Jeong. Did you call aiming for this?”

“Honestly it doesn’t matter if I do it alone. But seems Chairman has a lot built up against Elliott, so I tried contacting just in case.”

“So you contacted me thinking of me?”

“That’s right.”

“I know perfectly well it’s lip service, but strangely I feel good.”

But if Jeong Jin-ho hadn’t contacted him, he wouldn’t have known what sinister things Elliott is plotting now.

“Alright. I’ll look into it and call you back.”

“Okay.”

“Ah. And the woman introduction I mentioned before.”

“I’m hanging up!”

Won’t fall for it.

Well, it’s fine.

Because with this case, there’ll be many reasons to contact him going forward.

“Secretary Kim.”

“Yes, Chairman.”

“Look into Hanjong Shipping in detail now. There’s talk that Elliott Fund is behind it, so find out if this is real too.”

“Ah, yes. I’ll look into it right away.”

Suddenly his hands itch and blood boils.

Elliott.

He had briefly forgotten about those bastards while living buried in work.

Actually even if he wanted revenge, there was no method because they’re a foreign fund, but Jeong Jin-ho kindly told him where they are.

If those bastards are really hiding behind Hanjong Shipping, he’ll launch indiscriminate bombardment at that location to torment them until they die.

Because revenge is always thrilling.

“You’re so screwed.”

Isn’t there such a saying?

Repay kindness double.

Repay grudges a hundred times!

***

For two days after the last call, there was no contact.

Just when I was thinking maybe he’s not interested.

“When will you enter?”

Contact came to me again.

“Have you decided?”

“If I can dismember those bastards limb from limb, what can’t I do? Just tell me the entry timing. I’ll give solid support.”

Hearing him speak, seems contact was delayed because he spent two days uncovering the board.

“Just a moment.”

I entered Hanjong Shipping stock and brought the mouse to the buy button.

“.!”

The intuition that hadn’t come before stuck in my mind like an arrow.

“Can I enter right now?”

“Fiery. Yeah. We just need to detonate too. If you’ll do it, do it now.”

“Seems you prepared a lot.”

“Only prepared things that’ll shock Elliott bastards. Plus it’s not only our Kangsung that holds grudges against Elliott.”

Seems Chairman Kang Seong-ho even dragged in other companies with grudges against them to definitely punish Elliott.

“Anyway, if you’ll move, move quickly. We’ll detonate right away on our side too.”

After hanging up with Chairman Kang, I quickly left the department head office.

“Everyone!”

“.?”

Employees enjoying tea time were startled and turned their heads to me all at once.

“All Hanjong Shipping stocks on the market, buy them all. Right now.”

“.Yes!”

Employees put down the tea they were drinking and hurried back to their seats to start gathering shares.

Meanwhile I just stared at the breaking news window.

What exactly are they trying to detonate?

***

People always point fingers at Elliott company.

Calling them bastards who only stab knives in backs.

But that’s talk from not knowing this financial market’s essence.

The financial market is wilderness.

The moment someone shows weakness, no matter how much it’s a beast, it gets torn to death by the hyenas that flock.

Elliott is just thoroughly following such wilderness instinct.

Plus this method was easiest to make money too.

Even getting cursed, seeing the profit rate rising day by day, getting cursed every day was fine.

Because money is best.

“Now we just need to catch timing to clean up Hanjong Shipping positions?”

“Right. It’s dropping much more than expected.”

“Because the owner has no intention of protecting the company right now.”

Thanks to that, Elliott was always making profits.

Because Korea was a really easy market for activist funds.

“That’s why Korea is a problem. Owner risk is too big. They don’t put out a penny of their own assets and expect government to do it?”

“If that doesn’t work, they just throw it on the ground.”

Korean companies have no intention of protecting shareholders.

They’re only obsessed with protecting owners.

That’s why they’re easy to attack.

Beep.

Then a warning sound briefly rang.

It was a warning sound meaning Hanjong Shipping stock price rose.

“Hmm? Why is the stock price rising?”

“Just some bastards buying without knowing, probably.”

“Must be that, right?”

“Of course. Even if it rises, it’s temporary.”

But the rising speed wasn’t ordinary.

Beep beep beep.

“Hey. Why, why is this?”

“Why is the stock price rising like this? Is there some good news?”

What good news could there be for a dying company?

But surprisingly, there was.

[Kintetsu Group. Scheduled to conclude major transportation contract with Hanjong Shipping. Rising back from crisis?]

“Wait. What’s this? Why is Kintetsu Group suddenly contracting with Hanjong Shipping? Are we spreading it?”

“No. We ended the one sent out before saying it was cancelled.”

“Wait. Kintetsu. Isn’t that the one Kangsung ate this time?”

At the word Kangsung, their spines instantly chilled.

Isn’t the timing exquisite?

Why suddenly Kangsung.

But that was only briefly.

Good news kept bursting out.

[Daegwang Heavy Industries will form partner agreement with Hanjong Shipping. Plans to continue symbiotic relationship.]

“What’s this again? Why Daegwang too!?”

Not only Kangsung but Daegwang Heavy Industries also stepped up.

Where is Daegwang Heavy Industries?

Though they say it’s currently torn, behind them is Daegwang Group, Korea’s second-largest conglomerate.

And Elliott was in a grudge relationship with Daegwang Group like Kangsung too.

Because they had joyfully attacked their automotive industry before.

Actually if you nitpick, finding places among current Korean large corporations that haven’t feuded with Elliott was harder.

“Kangsung followed by Daegwang, isn’t this strange?”

This much good news pouring out at the same time can’t happen.

Moreover, that can’t be real good news.

Who would pour money into completely collapsing Hanjong?

Beepbeepbeep!

“N-no. Stop rising!”

“These are all fake news!”

But the crowd doesn’t know that fact.

They just see only the big, solid red bars rising through the graph.