NOVEL NEXT 89
“Shall we start with Dokyung-ssi?”
The next day, Yuseong Investment Securities’ Personal Asset Management Team 3 began their day as usual with a meeting, but today all eyes were on Dokyung.
Even Team Leader Seo Jeonghwan seemed concerned about something as he addressed Dokyung right at the start of the meeting.
“Yesterday, during trading hours, embargoed documents containing government support measures suddenly began circulating everywhere. As a result, solar-related stocks saw their sector average price drop by 8%.”
Even if an individual stock’s price fell by 8%, everyone would seriously consider that company’s situation, but an 8% average drop for an entire sector was truly alarming.
There were dozens of solar-related companies listed on the domestic stock market alone.
An 8% average drop for these companies meant that individual stocks were seeing even more devastating numbers.
“In Hi-On’s case, it fell more than 3% as soon as the news broke during trading hours, and closed at -6.7%.”
Although it fell less than the sector average, Hi-On couldn’t escape such anxiety.
“When’s the announcement?”
At Seo Jeonghwan’s brusque question, Dokyung opened his mouth with a stern expression.
“It seems the Ministry of Economy and Finance will announce it at 2 PM.”
With the preemptive distribution of materials containing the government’s new industry roadmap yesterday, not only the solar sector to which Hi-On belongs but also various other sectors were suffering damage.
Similar to the solar industry, the distribution industry was also seeing stock prices plummet as investors’ expectations crumbled due to the government’s policy reservation.
“Is the information reliable?”
“Yes. After checking around, it seems the embargoed materials that circulated mainly in group chats yesterday are indeed the press release to be announced today.”
“It’s not like this hasn’t happened before, but still…”
Seo Jeonghwan grimaced.
It wasn’t unheard of for prepared press releases to circulate in the industry before the government announced major policies.
However, as far as Seo Jeonghwan could remember, this was the first time it had spread from one group chat to another like this.
“We don’t know where it leaked from?”
“It seems to have naturally flowed from the media side.”
“The market’s already not good, and now these embargoed materials leak in advance, breaking investor sentiment. It’s really not great.”
Of course, the picture was bound to fall once the government made its official announcement today, but it wasn’t right for a minority to have this information in advance and manipulate it.
Moreover, the tone of the announcement could differ from what was written in the press release.
Such materials circulating in advance only served to heighten investors’ anxiety.
“How’s Hi-On doing?”
“It seems to be holding up relatively well amid the overall decline in the solar sector.”
“In terms of stock price, that may be so… but what about investor sentiment?”
“I haven’t had a chance to check separately as it’s only been a day, but the clients who invested in Hi-On initially trusted the materials we explained from the company.”
Some clients from Personal Asset Management Team 3 had invested in Hi-On after watching the YouTube video featuring Dokyung.
Since the materials Dokyung had prepared about Hi-On highlighted as an advantage that Hi-On supplies more overseas than domestically, they didn’t seem to be shaken.
“Of course, some wavering clients were anxious, but they said they felt less anxious after seeing the additional market analysis I sent yesterday.”
Yesterday, Dokyung had posted materials briefing on how this announcement would affect Hi-On in the group chat he was managing.
“I actually recommended more aggressively buying Hi-On stock at this opportunity.”
At Dokyung’s words, half of the team members looked at him with surprised expressions, while Seo Jeonghwan and Han Dahyun nodded.
“It’s still a good company in the long term. I believe that if we steadily pick up shares every time noise like this causes the stock price to fall, it will rise.”
“If that’s the opinion of Dokyung-ssi, who’s in charge, I don’t think I have anything more to add. Let’s leave it to the clients whether they want to make additional investments.”
“Yes, understood.”
As Seo Jeonghwan finished speaking, a senior colleague who had been looking at Dokyung with a concerned expression opened his mouth.
“Looking at the reactions to the YouTube video, they don’t seem good. Have you checked?”
“No, I haven’t.”
“Since the stock price is falling, investors seem to need someone to vent to. Don’t you think you should respond to that too?”
The senior’s tone was dripping with concern.
It could have been seen as impolite, but he seemed to be genuinely worried about Dokyung.
“As a matter of fact, I have something to say to the Team Leader about that.”
Dokyung continued, looking at Seo Jeonghwan.
“I was going to report separately after the meeting, but I’d like to request appearing on the YouTube channel once more tomorrow.”
“…Will that be alright?”
Seo Jeonghwan furrowed his brow as he looked at Dokyung.
“If Dokyung-ssi goes out again and talks about Hi-On, YouTube viewers will oppose your opinion. That’s how it is over there.”
“I’m aware of that.”
“It might also look like you’re making excuses.”
“However, since I first brought this up on the YouTube channel, I think I need to explain for those who invested based on my words there.”
As Dokyung said this, Seo Jeonghwan pondered for a moment before nodding as if he had no choice.
“Alright. I’ll leave that to Dokyung-ssi’s judgment as well. You’ll be taking full responsibility, after all.”
“Thank you…”
Bzzt-
As Dokyung and Seo Jeonghwan were exchanging words, the senior colleague’s phone on the table began to vibrate.
“I’m sorry. I left it on in case a client called during the meeting…”
“You may check it.”
As soon as Seo Jeonghwan finished speaking, the senior checked his phone screen, and his pupils dilated.
“T-Team Leader. Dokyung-ssi…”
“What’s the matter?”
“Seonjin Securities’ Lee Donghyuk…”
As the senior uttered Donghyuk’s name, the meeting atmosphere rapidly deteriorated once again.
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“The picture has turned out like this this time.”
Three days later, Dokyung was at the studio in Yuseong Investment Securities’ headquarters.
PR Team Manager Lee Seonghyun looked at Dokyung with a serious expression.
“That Donghyuk guy, he seems to have it out for us.”
Three days ago, the message a senior colleague showed during the meeting was that Seonjin Securities’ Lee Donghyuk had appeared on their YouTube channel again.
This time, he appeared on the broadcast without any promotion, surprising everyone, and his statements seemed to be targeting Dokyung and Yuseong Investment Securities.
“Seonjin Securities Senior Manager Lee Donghyuk: ‘Solar power in Tae-Jo-I-Bang-Won looks difficult for the time being.'”
“Lee: ‘Solar power is an industry where subsidies are important. With subsidies reduced, growth is expected to slow.'”
“‘The same goes for solar materials, parts, and equipment. If power generation facilities aren’t shipped, naturally the supply of materials, parts, and equipment will decrease.'”
“‘Secondary batteries remain solid, this year is good, and next year will be even better.'”
Befitting the analysis of a top industry PB, everything he said was reproduced as related articles.
This time, Donghyuk put out a harsh evaluation of solar-related stocks, as if to pay back for what he suffered last time.
“We attacked first, so I somewhat expected this.”
Dokyung said this to Lee Seonghyun. Of course, what Dokyung had expected was an immediate rebuttal when he first commented on secondary battery-related stocks.
However, Donghyuk had come to him with an offer to change companies, and this action came after he rejected that offer, so he felt a bit disappointed.
“It seems like something we have to endure.”
However, it wasn’t that Donghyuk was bad because this side had first shown a stance of targeting Seonjin.
“I’m sorry. If I had known the situation would unfold like this, I wouldn’t have planned such a thing.”
“It’s not your fault. I went along with your lead too. Aren’t we both accomplices, Manager?”
Lee Seonghyun chuckled at Dokyung’s joke, which seemed aimed at lightening the mood, and patted Dokyung’s shoulder.
“The comments on the video for the past few days have been bad. The chat atmosphere will probably be bad too… Anyway, thank you for volunteering to appear again first.”
“It might sound strange to say this, but I should clean up my own mess.”
“Hahaha, ‘the one who tied the bell should untie it,’ good. Let’s do our best anyway.”
At Lee Seonghyun’s words, Dokyung bowed slightly in greeting and then sat down to wait for the live broadcast to begin.
“Viewers! Hello. We’re starting Yuseong Investment Securities’ Investment Talk Talk broadcast.”
As the broadcast began with the announcer’s introduction, viewers started coming in, and the viewer count was higher than on the day of his first appearance.
As his turn approached, Dokyung greeted and began briefing on today’s market conditions.
As the market briefing ended, the announcer opened her mouth towards Dokyung as if she had been waiting.
“Despite the sector not doing well, Hi-On is showing a relatively solid performance.”
As the announcer brought up Hi-On, the chat window simultaneously began to fill with messages criticizing Dokyung and others urging focus.
It was utter chaos, but Dokyung began his explanation while trying his best not to show it.
“The solar sector has fallen for four consecutive trading days, dropping about 16% from its peak. The company that fell the most was Han Solar Energy. Being the company with the largest domestic market share in solar power, it seems concerns about sales reduction have persisted.”
Dokyung continued speaking while looking at the camera in front of him.
“On the other hand, companies in the solar sector that generate more performance overseas than domestically are succeeding in defending their stock prices. In the case of Hi-On that you mentioned, it’s at about -6% from its peak, showing some recovery in stock price compared to the first day it started falling.”
“Is it because it’s less affected by domestic policies, as you mentioned?”
“Yes, that’s right. In the case of Hi-On’s main products, the domestic ratio of total supply is less than 20%. The remaining 80% is supplied to North America including the U.S., Europe, and China, so it’s expected to be less affected.”
In reality, Hi-On’s stock price was rising much more than the initial fear on the first day.
Dokyung took a deep breath and continued.
“I think times like now, when investment sentiment is contracted, are when we can separate the wheat from the chaff.”
“By wheat from the chaff, you mean…”
“As I just mentioned, Hi-On is a company less affected by domestic situations. Its main supply destinations—the U.S., Europe, and China—have already allocated tens of trillions of won in budget for solar power generation this year and next.”
“So you’re saying this year and next year will be good?”
Dokyung nodded at the announcer’s question.
“That’s right. In Hi-On’s case, they’ve completed a supply contract with a U.S. company until 2027. This means they can generate stable sales until 2027, even in rapidly changing trends.”
“Looking at the materials you prepared, Manager-nim, there’s a price transfer clause in the contract details.”
At the announcer’s timely question, Dokyung smiled and began to speak.
“That’s correct. The part we should pay attention to in the contract until 2027 is the price transfer.”
Dokyung took a moment to catch his breath and continued.
“The biggest problem with long-term contracts is that supply prices are fixed and unpredictable for the future. For a simple example, if a company signs a contract to supply a product that currently costs 10,000 won for 15,000 won for five years, what would be the risk?”
“Then even if raw material prices rise next year…”
“Yes, even if raw material prices rise and the cost becomes 12,000 won, the supply price will inevitably remain fixed.”
While long-term contracts had the advantage of generating stable sales, they were vulnerable to changing circumstances because most were fixed-price contracts.
“However, Hi-On has inserted a price transfer clause in its long-term contracts with its suppliers.”
Price transfer meant that the responsibility for increased costs would be borne by the supplier.
In other words, if a product that cost 10,000 won becomes 12,000 won due to rising raw material prices, the supplier would be responsible for the 2,000 won increase.
“Through such stable contracts, we can expect that based on fixed sales until 2027, along with the completion of their U.S. local factory next year, they will embark on aggressive business expansion.”
Dokyung paused for a moment and looked at the camera in front of him.
Then, as if he had made up his mind about something, he began to speak.
“I view this decline, influenced by domestic factors, as a good opportunity to buy Hi-On.”
As soon as he said this, the chat window once again became bustling, with messages rapidly scrolling up.
“I believe this adjustment is a good opportunity for investors thinking long-term about Hi-On to enter at a cheap and attractive price for a stock of a company that will lead the market.”
At Dokyung’s words, Lee Seonghyun, watching from afar, chuckled as if to say “he’s unstoppable,” while Dokyung looked at the camera with a confident expression.
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“I’m home.”
That evening, Dokyung entered his house with a tired expression. Today’s YouTube broadcast appearance had been mentally draining in many ways.
Of course, after the live broadcast ended, Dokyung’s phone started blowing up.
From worried messages asking if it was okay to speak so strongly, to compliments saying they enjoyed the broadcast.
While these were grateful contacts, right now he was truly exhausted.
“Hyung, are you okay?”
“Huh?”
As Dokyung was about to enter his room, his younger brother asked from behind with a worried expression.
“You look really tired.”
“Ah, I’m particularly tired today. Where’s Mom?”
“She went to bed early today.”
“Is that so? Let her sleep. I’m going in too. You should rest as well.”
“Is it because of that?”
Hearing another question directed at him, Dokyung turned his head.
“What?”
“You know… Hi-On.”
At his brother’s hesitant words, Dokyung chuckled.
“You must be busy studying, yet you’re worrying about me too?”
“No, I just… happened to see an article on the internet.”
“It’s okay. This isn’t the first time, and it won’t be the last. Anyway, thanks for worrying.”
“No, if you say you’re fine, then… Get some rest.”
At his brother’s words, Dokyung raised his hand in greeting and entered his room.
He tossed his bag to one side and buried himself in bed.
“Was it right to speak so strongly there… I still don’t know.”
Although he had spoken without a hint of hesitation in the moment, on the way home, he became worried.
Of course, Dokyung was confident about Hi-On, but investor sentiment wouldn’t change based on his confidence alone.
After lying down and pondering for a while, Dokyung sat up abruptly.
“Oh well, I don’t know. Let’s just think about the people who understand my words.”
It seemed Dokyung was paying too much attention to critical opinions.
Dokyung decided to focus only on those who understood his opinion instead of the critical public opinion, and got up from his seat.
“Let’s go to sleep quickly. It seems tomorrow will be an even tougher day.”
Dokyung muttered to himself and began changing his clothes.
Bzzt-
Just as he was about to head to the shower, Dokyung’s phone vibrated, and he checked the screen, thinking it was probably another contact.
“Huh?”
The source of the vibration wasn’t a contact, but a notification from the application he had received as a reward from the message.
“Why is the 5 Minutes Early News alert suddenly…”
As he tilted his head, puzzled by the alert that he hadn’t set separately, and checked its contents, Dokyung involuntarily let out a “Hup” sound in surprise, and his eyes gradually widened.