NOVEL NEXT 9
[The Financial Securities Crime Investigation Cooperation Unit of the Seoul Southern District Prosecutors’ Office announced today that they have arrested a broker, Mr. Kim, on charges of attempting to pocket kickbacks for facilitating the large-scale sale of stocks listed on KOSDAQ.]
Late at night, news was flowing from the TV in a 24-hour soup restaurant.
[The prosecution has also indicted and detained Vice President Hwang of Yuseong Investment Securities and Branch Manager Heo. The prosecution alleges that these three individuals conspired to illegally conduct large-scale trading of stocks owned by executives of a KOSDAQ-listed company…]
“Ugh… it’s bitter.”
Two weeks had passed since the headquarters audit team had swept through the Seongnam branch of Yuseong Investment Securities.
Dokyung had come out to this restaurant at Choi Woojin’s call after finishing work late at night, and Choi Woojin was already drinking soju and eating soup.
“Aren’t you going a bit hard, considering tomorrow’s the weekend?”
At Dokyung’s question from across the table, Choi Woojin chuckled and lifted his soju glass, staring at it.
“You know, for a PB like me, this is truly an object of hatred.”
Like any salesperson, securities firm PBs couldn’t escape their relationship with alcohol.
‘Big deals are made over drinks.’
This was the eternal creed of salesmen, and securities firm PBs found it hard to escape this rule.
Even if they squeezed in time during busy market hours to meet clients for lunch, clients wouldn’t easily open their hearts.
After all, it’s not an easy decision to entrust your money to someone else.
But over drinks, such wariness softened, and difficult decisions became easier to make.
“As much as I hate it, on days like today, I just want to drink.”
“Isn’t that a love-hate relationship then?”
At Dokyung’s question, Choi Woojin chuckled.
“Love-hate? Yeah, I guess that’s right. You don’t drink, Dokyung-ssi?”
“No. I tried, but it didn’t suit me. I suppose I should try more though.”
“You don’t have to. It’s people like me, with no eye for stocks and nothing but a loose tongue, who drink when dealing with clients. You have real skills, Dokyung-ssi.”
Choi Woojin seemed to have something he wanted to say, but he was beating around the bush.
Dokyung quietly watched Choi Woojin as he made these meaningless remarks.
“You’re scariest when you look at me like that.”
“Pardon?”
“I said you’re scary when you make that expression. It’s like you’re analyzing me the way you analyze stocks.”
Dokyung was curious about what his eyes looked like now, what expression he was making.
“…You were curious about where I went that day, right? Actually, I went to headquarters.”
Choi Woojin began to talk about what Dokyung had been wondering for the past few days.
“Perhaps you met another vice president…”
Choi Woojin nodded at Dokyung’s question.
Yuseong Investment Securities’ divisions competed fiercely with each other.
And among the vice presidents leading the divisions, the one who produced the best results or had the most connections with the board of directors was often promoted to president.
“I met Vice President Sim Ju-won. My legs were trembling as I went there.”
Dokyung nodded as if he understood.
That was the decision Choi Woojin had made. The chances of a mere branch assistant manager getting to meet a vice president were low, and it was unlikely that they would readily believe the documents Choi Woojin presented.
“At first, he was surprised by the documents you wrote, but when I mentioned the connection between Vice President Hwang and the branch manager, he didn’t believe me.”
“It’s hard to believe. Even for Vice President Sim Ju-won.”
“You know Vice President Sim Ju-won?”
“Yes… a little.”
“Really? That’s interesting. Anyway, vice presidents are competing with each other, so when a lowly assistant manager comes and says, ‘This is your competitor’s misconduct,’ of course they’d be suspicious first.”
People who have risen to the level of vice president have been through so much office politics that they don’t easily trust others.
“He told me to go back first. Said he’d look into it.”
“And after that, was there any contact…”
“Nothing came. Then ten days ago, all that chaos broke out at the branch.”
The audit team that came down from headquarters devastated the Seongnam branch. Not only the branch manager’s and deputy manager’s rooms, but they also tried to identify problems within the branch as if this was their chance.
Choi Woojin was also summoned to headquarters to give a statement related to this situation.
“Anyway, it seems to have been quite a shock.”
They could have hushed it up and ended it with internal disciplinary action if possible. After all, the transaction hadn’t been carried out yet.
But after the special audit, the company reported Vice President Hwang and the branch manager to the prosecution, and they were arrested.
“They swept through the branch once, so Vice President Sim Ju-won must have spoken strongly.”
Dokyung didn’t know because he wasn’t interested, but Choi Woojin seemed well-versed in office politics.
It was amazing that he found the person who would push the button hardest regarding this incident in one go.
“I heard rumors that Vice President Sim Ju-won was the fairest, probably because I have classmates at headquarters too.”
Choi Woojin spoke as if he had read Dokyung’s mind.
“Anyway, everything’s back to normal now… but I don’t know why I feel so uneasy and empty.”
“Maybe it’s because not everything has actually returned to normal?”
“I suppose so…”
Choi Woojin nodded, downed his soju, and opened his mouth.
“That’s right. The most important thing is that the investors who invested in J-On are losing money.”
When the Seongnam branch of Yuseong Investment Securities came under special audit, rumors spread quietly in the securities world that J-On System was involved in an illegal block deal.
Institutions that could quickly obtain information swiftly sold all the J-On stocks they had invested in, and retail investors without information received all that volume.
“If only they had disclosed that J-On was under prosecution investigation during that time.”
Of course, it wasn’t mandatory to disclose that the CEO and executives were under investigation by the prosecution.
During today’s trading session, J-On System’s president was arrested, and when detailed reports came out, J-On System’s stock price plummeted incessantly, hitting the lower limit just before the market closed.
Fear had reached its peak.
“If embezzlement comes out now, it’ll be an immediate trading suspension.”
When embezzlement or breach of trust is disclosed in a listed company, stock trading is immediately suspended.
Even if shareholders want to sell their stocks at a loss, they can’t.
“Isn’t it sad?”
Dokyung nodded at Choi Woojin’s words.
In a capitalist society, one had to embrace risk to become financially affluent.
Either by taking on the risk of business failure or investing in risky financial products.
There might be people who took on risks wanting to become rich, but most small investors heading to the stock market were those who didn’t want to be financially strapped and wanted to have at least one house in their name.
“Of course, investment is based on individual judgment. You need to study as much as you take on risk.”
Dokyung opened his mouth, looking at Choi Woojin.
“But every time problems like this occur, I wonder how much more effort individuals need to make. It’s also heartbreaking.”
If the message hadn’t told Dokyung that J-On was a stock to watch out for, if Dokyung hadn’t looked into what the problem was.
In the end, the block deal transaction would have been completed without any problems, and individual investors would have suffered greater losses for all that happened afterward.
Moreover, clients who trusted Yuseong Investment Securities and bought stocks through the block deal would also suffer losses.
“It’s money that investors trusted and invested in the company, but J-On’s president and executives used it as gambling money. I hope people like this don’t appear anymore.”
If left unchecked, public trust in the stock market will gradually hit rock bottom.
“I… wish there were more people like you, Dokyung-ssi, in this industry.”
Choi Woojin continued talking, looking at Dokyung with half-closed eyes.
“When you first helped me, honestly, I looked down on you. Just a tiny bit, so forgive me.”
At those words, Dokyung couldn’t help but smile.
“I understand. What would an operations team employee know…”
“No! You saved me, and you saved the company. And you saved countless retail investors who might have invested in J-On before it was too late.”
Choi Woojin spoke with a tone of certainty.
“Thank you. Really, for many things.”
Choi Woojin mumbled his words and then faceplanted onto the table.
Choi Woojin was the first person in this securities world to believe in and recognize Dokyung’s abilities.
“Thank you. Truly.”
Saying this, Dokyung took out his mobile phone and pressed the message.
There had been no messages since J-On System.
But Dokyung now felt certain he knew what these messages were teaching him.
As it had boasted, the message was helping Dokyung achieve his dream of becoming the world’s best fund manager.
Dokyung had seized the opportunity, and now he made up his mind to act with confidence as he began to type something.
[Thank you.]
Although he knew there would be no reply, Dokyung’s face wore an expression of relief as he sent the message.
⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱⊰⋆⋅⭑⋅⋆⊱
“Dokyung-ssi, welcome back.”
Three days later, after enjoying a long-awaited relaxing break, Dokyung came to work, and his sunbae colleagues from the operations team welcomed him.
Dokyung was planning to return to the operations team and resume counter work starting today.
“We all had a hard time while you were away helping Assistant Manager Choi Woojin.”
As the colleague sitting next to Dokyung said this, another sunbae approached and nodded.
“I felt it too. We’ve been asking too many favors of Dokyung-ssi all this time. Dokyung-ssi has so much work.”
“Hahaha, why are you all being so scary?”
“No! We’re serious. We’re sorry for all this time. From now on, I’ll do all my work myself and only ask for help when it’s really difficult.”
Dokyung wore a puzzled expression as he looked at his sunbaes who were oddly acknowledging him.
“We’re not clueless. They say you’re the one who sent the branch manager packing, right?”
“Who said that…”
“Assistant Manager Choi Woojin mentioned it casually.”
Dokyung now understood why his sunbaes were welcoming him like this. The branch manager had been everyone’s common enemy.
“It’s not something to be happy about since it’s related to crime, but honestly, it feels good.”
Dokyung nodded at his sunbaes’ words. They must have suffered under the branch manager as much as he had.
“By the way, I heard a new branch manager is coming today.”
“Already?”
Dokyung was suddenly out of the conversation loop as the two sunbaes started chatting with each other.
“Yeah. But what was it they said? Someone who got pushed out while working at headquarters? The deputy branch manager was worried, saying headquarters might have abandoned our branch.”
Dokyung began preparing for work while listening to his sunbaes’ conversation.
“Alright everyone, attention please.”
Just then, the deputy branch manager approached the counter with a man. The deputy branch manager’s face had become very gaunt after undergoing the special audit from headquarters for several days.
As everyone preparing for work stood up, the deputy branch manager slightly bowed his head to the person next to him, and the man stepped forward and opened his mouth.
“Nice to meet you all. I’m Ryu Tae-hwa, newly appointed as your branch manager.”
The new branch manager looked quite young. Despite being said to have been pushed out from headquarters, he didn’t look old enough for that.
“I feel a heavy responsibility taking on the role of branch manager during such a difficult time. For the time being, I’m thinking of adopting stricter rules to normalize the branch.”
At the branch manager’s words, a sigh escaped from a sunbae standing behind Dokyung.
“It will be difficult for everyone, but I hope you’ll follow the enhanced rules until we normalize. I look forward to working with you all.”
The new branch manager bowed his head in greeting, and the employees clapped to welcome him.
“Nice to meet you.”
The branch manager shook hands with each operations team employee one by one, and soon stood in front of Dokyung.
“Yoon Dokyung-ssi?”
Ryu Tae-hwa smiled and extended his hand to Dokyung.
“I’ve heard a lot about your achievements.”
At Ryu Tae-hwa’s words, Dokyung slightly bowed his head in greeting and grasped the hand Ryu Tae-hwa had extended.
“I…”
“I believe the operations team should do the work of the operations team. I hope Yoon Dokyung-ssi will also follow the operational guidelines well.”
As Ryu Tae-hwa cut off Dokyung’s words with a warning, everyone around them looked at the two with serious expressions.