Chapter 106
Chapter 106: <Sudden decline>
Minus 15%.
Minus 15%.
Minus 15%.
It happened so fast that there was no chance to sell the stocks. Usually, in dramatic cases like this, there would have been an outcry from all the minor shareholders, but it wasn’t the case this time. It was because the majority of the shares were owned by Jung Jinsup, Jung Hyosung, and Woosung.
It also didn’t appear on the news actively as there was bigger news.
“Daeyang System’s The One to be launched on February 10th.”
“Blue S2 to be released in Korea on January 25th.”
“Will Daeyang’s The One become the next Nokia or Apple?”
“Blue S2’s new fingerprint function is a big hit.”
“Blue S2 considered the most innovative phone so far.”
Because of the release of two new smartphones, no one cared about MOX’s news. In fact, most gamers preferred DNK being in charge rather than MOX’s old way. The online game forum was filled with comments favoring DNK.
“Don’t you guys think DNK is doing a better job than MOX?”
“It’s true that they respond much faster to complaints.”
“Bug patch is faster too.”
Jung Jinsup stared at the screen with an open mouth. The stock price that was close to being $30 until yesterday was now a little over $10.
“How…How could this happen? Who the hell is causing this?”
He shuddered uncontrollably. He tried to sell his stocks before he bleeds more money, but it was no use. Everyone was trying to sell, and no one was buying.
MOX was now a useless company.
Jung Jinsup had no choice but to stare at the screen as the price continued to fall.
However, this wasn’t even the worst part.
“Illegal activities by the ex-directors of MOX were reported. All trading of MOX stocks has been suspended until further notice.”
“…!”
Jung Jinsup’s eyes widened. Illegal activities? What did that mean?
He searched the news online and finally found a small article.
“MOX’s ex-directors have been charged with using an illegal master account to manipulate the online game Legend. An investigation is underway.”
Jung Jinsup swallowed. Only a select few knew about the master account. Jung Jinsup gritted his teeth.
“Did Kwak Mingu rat on us?”
He could think of only one person. He wanted to find Kwak Mingu right now and send him to a world of pain.
His cell phone was vibrating constantly. It was a call from his father Jung Hyosung. Money was no longer their biggest problem. They could end up in jail at this rate.
At the KYLO meeting in a mansion on Sungbookdong.
Jung Jinsup sweated profusely as he begged Hong Minwook, who was the son of the Law firm Hwajung’s CEO.
“Please help me out here. Once I get to sell my stocks, I will have the money to pay you then.”
“I can’t help you for free. You know how it is. Our law firm charges big money, but we get the job done.”
“That’s why I’m asking.”
“You can’t mean you don’t even have a million dollars for deposit.”
Hong Minwook looked at Jung Jinsup with pity. Everyone knew about MOX’s situation.
Suddenly, Woosung walked in. Everyone stared at him.
Shin Semi turned to him too. He looked good in a clean suit. He walked with a relaxed demeanor into the room. Hong Minwook ran to Woosung and greeted him.
“Haha, thank you so much for hiring my firm to represent KND and Coconut service.”
Woosung smiled. “We are friends, so of course we should help each other out.”
“My father also wanted to visit you and thank you in person. He has informed all of us that any work related to KND will always be our priority.”
“Thank you, and I would love to meet your father for dinner sometimes.”
Woosung patted his shoulder.
Hong Minwook said to him in awe, “I can’t believe your net profit is 700 million dollars, and it will be even more next year.”
“It’s all thanks to my employees.”
“I also heard Coconut service is doing equally well. Over 10 million users! I also heard you are planning to get into the Chinese market?”
“Yes. We are working very hard.”
“That’s amazing, and you are so young!”
Hong Minwook looked at Woosung with respect. Jung Jinsup watched them with anger.
Woosung walked towards Jung Jinsup and asked, “Hey, why haven’t you been answering my call?”
“Haha, I have been really busy.”
“You need to sign off on transferring your building to me per our contract.”
Jung Jinsup laughed awkwardly. “Hahaha, o…of course. We’ll get it done.”
“You can buy it back if you want to. You borrowed almost 200 million dollars from me, so you must have enough money left still. You didn’t spend all the money on buying the stocks, did you?”
200 million dollars.
Everyone’s eyes widened as they eavesdropped on their conversation. They were all wealthy, but not enough to lend someone 200 million dollars.
‘Just how much money does he have? How did he make so much?’
Jung Jinsup stammered guiltily, ‘T…that is…Just please be patient. Once the trading suspension gets lifted, I will have enough money.”
Woosung frowned. “It’s not ideal, but I guess for you, I will wait.”
Jung Jinsup finally smiled. “Haha, thanks. It will happen soon, you’ll see.”
Woosung smiled as well. He turned to Hong Minwook and asked, “How much does it cost to hire your firm?”
“1 million as a deposit and the rest will depend on the case. We probably could get him out of any jail time, but it will cost a lot.’
Woosung turned to Jung Jinsup. “Do you have any other collateral you can use? I can lend you more money with the same conditions.”
“R…really?”
“Of course. Things need to work out for you so I can get my money back.”
“But I feel bad for borrowing so much money from you…”
Woosung laughed and said kindly, “It’s alright. As long as you have solid collateral, it’s all good.”
Jung Jinsup nodded cautiously. “I can use my house if you don’t mind.”
Woosung bowed and replied respectfully, “Alright. I will get my lawyer to contact you tomorrow.”
“Great. Thank you.”
Jung Jinsup then left the meeting.
Hong Minwook approached Woosung again and whispered, “Are you sure this is ok? You already lent him 200 million dollars…”
“It’s alright. We are pretty close.”
Shin Semi suddenly came to Woosung and asked, “Hey, can I talk to you in private?”
She looked gorgeous as usual. Woosung nodded.
A separate room was set aside for private conversations. It was soundproofed in case people needed to share sensitive information.
Shin Semi explained, “KYLO meetings may look like they are arranged to help each other out, but it’s actually the opposite most of the times.”
Woosung nodded. He knew this already.
“The business world is a dog eat dog kind of world. They are here to sniff out any weakness in each other so they can use it.”
Woosung took a sip of whiskey. He wondered why Shin Semi was being kind to him.
He stared at her eyes. She asked, “Don’t you know what you just did will be used against you?”
Woosung wanted to tell her the truth, that he did it on purpose. Instead, he asked her, “Advisor Shin, don’t you know that when you give me sincere advice like this, you are giving me a mixed signal? To get me to a private room with you alone? Are you trying to tell me something?”
Shin Semi reddened.