Stock Price Manipulation

Lee Sang-hoon swiftly completed the acquisition of a hundred shares. Signing off on the transaction, he barely had time to acknowledge the addition of Taeeun Innotek's shares to his portfolio before fatigue overwhelmed him, and he surrendered to sleep.

"Okay, it's done."

There was a peculiar sense of something within him giving way after the trade. The ease with which he had purchased the stocks left him feeling hollow. Before drifting off, he wished fleetingly for Taeeun Innotek's stock price to skyrocket from 150,000 to 1.5 million won.

"The chapter concludes."

The sound of a female voice disrupted the silence from the speaker. Lee Sang-hoon startled awake, disoriented.

"What?"

As he rubbed the sleep from his eyes and glanced at the clock, it stood accusingly at three in the afternoon. He was taken aback at the sight of the halted trading system on his computer screen.

Thump.

Lee Sang-hoon slapped his cheeks with his hands. He'd stayed up too late monitoring the High-speed Trading Service (HTS), which led to his dozing off after impulsively purchasing Taeeun Innotek shares.

Collecting his wits, he turned his attention back to the screen.

[Taeeun Innotek KRW 15,000]

The stock had surged with the market's opening, only to slump back down, ending the session unchanged.

"Ah, should've waited."

Lee Sang-hoon reproached himself for his hasty decision to buy. The stock's modest loss of 200 won per share resulted in a 20,000 won dent. Though not a substantial sum, it pained him to accept even a small defeat.

"One learns step by step, after all."

Choosing to take this as a learning experience, Lee Sang-hoon logged onto the stock community Romannet. He navigated to the Taeeun Innotek board on Romannet, intent on gleaning more about the company.

However, the posts he encountered were not discussing Taeeun Innotek but were instead dominated by one word: Luho.

"What's going on?"

Wondering why Luho was garnering more attention than Taeeun Innotek, he noticed the discussion titles, which seemed frivolous. With a growing sense of alarm, he clicked on a post.

[Was Luho a manipulation all along? Authorities are investigating. How does this affect trading?]

"An investigation?"

Lee Sang-hoon's concern deepened. Although it wasn't explicitly stated, the headline was suggestive enough. He urgently combed through the HTS news for any mention of an investigation into Luho.

[Authorities investigate 9 individuals in connection with the manipulation of 'L Company' stock, valued at 150 billion won]

Though the company's name was not specified, the details pointed unmistakably to Luho. Lee Sang-hoon hastily clicked to read the full article.

[The prosecutor's office has issued a summons for nine individuals linked to alleged stock manipulation involving a KOSDAQ-listed company, L, accounting for a market capitalization of 150 billion won. Official statement: Travel bans have been imposed on 5 to 6 suspects currently under review. Among them, reports indicate a previous stock manipulation advisor is involved.]

A chilling realization dawned on Lee Sang-hoon. If the prosecutors were this involved, the situation was indeed dire.

"Mom, something's wrong..."

He rushed to consult with his mother, only to find his parents immersed in a critical situation. In the living room, his mother appeared distraught, while his father was fiercely engaged in a telephone conversation.

"Branch manager, what are you saying? You're unaware? These aren't just rumors; it's been broadcasted, and even Dahyun's father has reached out. And you're still claiming ignorance?"

"What do we do now?"

His mother was weeping on the floor; his father was desperately pleading on the phone.

"Mom, what happened?"

Lee Sang-hoon's mother, through her tears, looked at him with grave concern.

"We can't reach the vice-chairman. It appears the prosecution is investigating the stocks we've purchased. How could we have entered this mess? We mortgaged the house to invest in this. What should we do now?"

Amidst his mother's tears and his father's frantic calls, Lee Sang-hoon found a strange tranquility. Somehow, he had anticipated this crisis the moment he learned of their investment in 'Lugo' or 'Luho', especially since it was not done through regular channels. How could one expect stability from an investment made with all credible certifications pilfered from the passbook?

Lee Sang-hoon supported his mother, who was seated on the floor, with a reassuring hand on her shoulder.

"Stay calm, Mom. Just take deep breaths. Inhale... and exhale."

"Inhale... exhale..."

After helping to stabilize his mother, Lee Sang-hoon promptly disconnected the ongoing phone call and approached his flustered father.

"Let's not just cling to the phone, we should go."

"Go? Where to?"

"There has to be an office, right? They weren't just operating from home with their computers. There must be a place where they all worked together. Do you know where it is?"

"An office?"

Pondering for a moment, something dawned on his father, and he turned to Lee Sang-hoon with a spark of recollection.

"Yes, I remember. I heard they got an office on Teheran-ro. That's right, we can go there."

"Teheran-ro?"

Lee Sang-hoon thought about the high rent in such a prime location.

"Let's go. Do you know where it exactly is?"

"I'm not sure, but the branch manager might know. He said he has been there a couple of times."

On the way to the location, Lee Sang-hoon led his parents. He didn't hold much hope for what they'd find at the office. To him, the primary intention was to do something beyond his parents' despairing at home.

While on the drive, Lee Sang-hoon's father made calls to ascertain the office's address on Teheran-ro. Arriving at a Finance Center, which exuded an air of grandeur, they hastily parked and ascended to the 13th floor where the office was.

"Ah! President Lee, you've come too? Did you hear what happened?"

"Yes, President Do. Did you come after hearing the news? What's going on here?"

A group, including Lee Sang-hoon's father and an elderly man familiarly referred to as the boss, stood before a firmly shut door. They surrounded Lee Sang-hoon's father as he arrived.

"Have you been able to contact the Seoul branch manager?"

"The Seoul branch manager? I've called him a while ago. What's going on?"

"Quick, try reaching him again. The Gyeonggi branch manager can't get through. If you can contact the Seoul head, ask him to come here. I think we've been conned."

"What do you mean, 'conned'?"

Before Lee Sang-hoon's father could probe further, the surrounding clamor hurried him to call the Seoul branch head. All he got was a voicemail notification that the line was switched off.

"Huh? The phone was on just a moment ago..."

Attempts to redial met with no success, leading bystanders to lament that the person in question might have fled.

"That's it then. They've likely cut and run. If we had contacted President Lee sooner, we might have caught the Seoul branch manager. My apologies."

Lee Sang-hoon, on behalf of his father, inquired about the situation.

"What's the deal? Has everyone involved fled?"

When Lee Sang-hoon stepped in, the group took a step back in surprise, but his father introduced him, inviting an explanation from one of the men, President Do.

"They lured us into buying Luho stocks, promising a big payout. They inflated the prices, then offloaded their shares to us at a premium."

"So... you're saying the Luho shares we bought were from the schemers?"

"Yes, greed got the better of us. They started buying at 2,000 won, the price rose to 6,000-7,000 won, and we bought in at 10,000 won, some even at 15,000 won..."

Lee Sang-hoon, realizing the grave plight they were in, tried to offer a glimmer of hope.

"We haven't really lost money, right? If the stock price hit 50,000 won, can't we just sell ours? Even if we sell at 30,000 won?"

His mother's voice was hopeful, but President Do dispelled this hope with the harsh reality.

"The truth is harder. We could try to get new certificates or passbooks, but selling the stocks isn't the issue. It seems the prosecution might freeze them anyway, fearing money laundering or further manipulation."

Desperate emotions began to surface among the group, and Lee Sang-hoon's father, breaking his own anti-smoking rules, lit up a cigarette right there in the hallway.

About ten people were gathered, a silent air of defeat among them. They were enveloped in a sense of loss not just of money, but of trust, and possibly even their futures.

In the midst of their contemplation, journalists with cameras and microphones rushed out from the elevator.

"Ah! This must be the place. Let's set up the shot."

Turning on lights and shouldering cameras, a reporter began to address his audience.

"We stand before the offices of the HU Group involved in arguably the largest multi-level marketing scandal since the founding of Korea. Here are individuals likely devastated by the stock manipulation scheme. We'll try to speak with them and uncover their stories."

And thus, captured by the camera's unblinking eye, the tragedy of the day unfolded, broadcasting to unknowing viewers the despair of those who had been unwittingly drawn into a web of deceit and manipulation.