Golden Spoon Investor

Yeouido-dong, Yeongdeungpo-gu, Seoul Special City.

In this area, commonly referred to as the Yeouido Securities District, major financial institutions like the Korea Exchange, the Financial Supervisory Service, and the Bank of Korea, as well as large securities firms, investment banks, and asset management companies, were gathered.

True to its nickname as the "Manhattan of Korea," the area was packed with towering skyscrapers, and from early dawn until late at night, people bustled back and forth, keeping the place vibrant.

In front of Exit 3 of Yeouido Subway Station, there was a roughly 200-meter-long alley where large securities company buildings, recognizable by name alone, stood facing each other in a row. Among securities men, this place was colloquially known as the "Raccoon Den."

The name was given because, not just during lunch but from the morning until the market closed in the afternoon, employees from the surrounding securities firms came out to smoke, causing the alley to always be thick with cigarette smoke.

In one corner of this Raccoon Den, there was a small, old-looking shoemaker's shop. A signboard reading "Shoe Repair" was placed there, and a man who appeared to be in his late 60s was sweeping up discarded cigarette butts with a broom and dustpan.

Even though it would get messy again shortly after cleaning, the old man silently continued to sweep, undeterred. Unlike the shabby shoemaker's shop, the old man was neatly dressed in black cotton pants and a crisp white shirt, standing straight with a healthy posture.

At that moment, an electric scooter came to a stop in front of the shoemaker's shop. The rider, a young man who looked to be in his early 20s, dismounted from the scooter.

The young man took off his helmet and frowned at the old man standing in front of the shop. "Geez. I told you to just come to the shop and eat your jajangmyeon."

The old man responded while throwing the cigarette butts he had gathered into a trash bin. "You rascal! How can a businessman leave his shop unattended?"

"It's not worth the gas to bring just one bowl of jajangmyeon here."

"It's an electric scooter; what gas?"

"Ah, it's just a figure of speech."

The young man, accustomed to the old man's words, picked up the empty jajangmyeon bowl on the ground and tossed it into the box on the back of the scooter. "Next time, I'm really not delivering."

As the young man put his helmet back on and got on the scooter, the old man, with his hands behind his back, started nagging. "Don't get distracted and drive carefully."

"I've been riding a scooter for a while; don't worry unnecessarily."

"Then how come you fell and scraped your knee the last time? I saw you limping to the hospital, trying to pretend you weren't hurt."

The young man, embarrassed, made an excuse with a guilty face. "That was because a car suddenly cut in front of me."

As he awkwardly smiled to hide his embarrassment, the old man clicked his tongue as if he wasn't convinced. "Anyway, I'm just telling you to be careful."

"Yes, yes." Park Tae-joon responded half-heartedly, nodding his head. Just as he was about to start the scooter, his smartphone, tucked in his chest pocket, made a notification sound.

Without much thought, Park Tae-joon checked his smartphone, and suddenly, his face lit up, and he clenched his fist tightly. "Yes! Haha, it went up again."

The old man, curious, stretched his neck out to see. "What's going on?"

"Oh, I don't usually tell just anyone this." Park Tae-joon grinned and leaned towards the old man. "I'm telling you because you're special, but you can't go around spreading it to others, okay?"

"I can already guess. You heard some strange story from somewhere again, didn't you?"

"No, it's not like that. Ahem… Have you heard of BM Bio?"

The old man furrowed his brow slightly. "The company developing an oral obesity treatment?"

"Huh? How do you know that?"

The old man, with a stern expression, asked as he looked at the surprised Park Tae-joon. "Don't tell me you bought that company's stock?"

"You know that the stock price of the American pharmaceutical company that developed an obesity drug skyrocketed, right? If this succeeds, it's going to be huge."

"It'll only be huge if they actually make the drug."

"They already passed phase 1, and they said the results of phase 2 were good. It's not in the newspapers or on the news yet, but the rumors are all over the internet."

Even though Park Tae-joon spoke with an excited face, the old man's expression remained unimpressed. "Rumors are one thing, but the company hasn't officially announced any results. Don't you find it odd that a 5,000-won stock suddenly jumped tenfold in a month without any news?"

The old man looked at Park Tae-joon with a face full of pity. "It's clearly a pump-and-dump stock. Don't lose your money; just sell it off quickly!"

Just a moment ago, Park Tae-joon had been thrilled about the rising stock price, but now he was sulking, annoyed by the old man's words. "How do you know if it's real or fake! The stock price is going up because there's good news."

"I've been in this business since before you were weaned, you rascal!"

"You've been shining shoes, not trading stocks!" Ignoring the old man, Park Tae-joon started up the scooter and drove off.

"If I lose, it's my loss, so don't worry about it! And from now on, I won't deliver just one bowl, so order some dumplings or something!"

"Hey, don't just ignore me and do as you're told, you rascal!"

Despite his harsh tone, the old man looked after the departing scooter with worried eyes.

***

Park Tae-joon stopped his scooter in front of the shop with a large sign that read "Bokseonggak." He got off the scooter and carried the delivery box inside.

As he walked into the empty shop after the lunch rush, a middle-aged man with short hair and a white apron spoke to him from inside the kitchen. "What took you so long? Were you playing around somewhere?"

"It only took 20 minutes; how is that late?"

"If it were me, I'd have done it in 10." With a sulky expression, Park Tae-joon put the delivery box on an empty table. "Then why don't you deliver it yourself?"

Handing the returned dishes to the kitchen, Park Tae-joon plopped down on a chair. "I know Mr. Kim is a regular, but delivering just one bowl of jajangmyeon every time is a loss, isn't it? And he always asks for extra jjamppong soup, saying he can't eat without it."

"That's because he's an elder." Park Yoo-sik responded nonchalantly as he wiped the water off the utensils he had just finished washing.

Park Tae-joon squinted at his father suspiciously, as if doubting him. "You don't have any debt on him, do you? No way…"

Just as he said that, there was a loud smack as something hit the back of Park Tae-joon's head, causing him to cry out. "Ow! Can you really just smack your precious son's head like that!"

"What did you say?" Park Yoo-sik waved a spoon in a threatening manner. "Let's talk this out, let's talk."

Backing away, Park Tae-joon laughed sheepishly, and Park Yoo-sik sighed deeply. "How can you still be so immature even after serving in the army? You really take after your mother…"

"Mom says I take after you."

"What?" With a fierce glare, Park Yoo-sik looked at his son, who had slinked back into his chair, and let out a groan of resignation.

"The owner of this building is elder Kim."

Completely caught off guard, Park Tae-joon blinked in disbelief and asked again. "Mr. Kim is the owner of this building?"

"Yes, you rascal."

The shabby shoemaker is the owner of this building? Park Tae-joon, struggling with cognitive dissonance, asked in disbelief.

"How is that possible?"

Even though it wasn't on the main road, it was still a six-story building over 20 years old in Yeouido, where the land was notoriously expensive. Moreover, it was located on a corner of a side street with a lot of foot traffic, making it even more valuable.

Recalling a conversation his father had with a nearby real estate agent a few days ago, Park Tae-joon said, "Didn't you say someone offered 9 billion won for this building recently?"

"That's right."

"No way. And the owner is Mr. Kim?"

"Yes, I told you."

"You're not joking, are you?"

Crossing one leg and folding his arms, Park Yoo-sik spoke to his still-disbelieving son.

"How could you not have heard the rumor? They say the shoemaker who owns a shop in Yeouido's financial district is a billionaire who even high-ranking securities executives go to for advice when the market is bad."

There was no way he hadn't heard the old tale that had been passed down in the securities district for years.

"Isn't that just an urban legend?"

"The elder has been shining shoes in Yeouido for over 30 years. That's more than three decades, long enough for the world to change several times over. They say he started investing with a small amount of money he saved after listening to the conversations of the securities employees who came to get their shoes shined."

Park Yoo-sik, with a playful expression, asked slyly, "Where is the elder's shop located?"

"In the Raccoon Den." Park Tae-joon immediately replied.

"Do you think that's just an ordinary back alley? That's where securities employees come out to smoke and chat all the time. In other words, sitting quietly there, you can hear all the rumors and information circulating in this industry."

Park Yoo-sik smirked as he watched his son's face, gaping in shock. "Is it any wonder there are stories that every stock the elder picks becomes a hit? Even if the younger employees don't know, the senior executives in the securities firms all know him."

Park Tae-joon couldn't hide his surprise at the insider stories of Yeouido's financial district flowing so easily from his father's mouth.

Then, the words the old man had said to him earlier suddenly flashed through his mind, and Park Tae-joon quickly pulled out his smartphone. "What are you doing?"

"Hold on, this is urgent." Hurriedly opening his stock trading app, Park Tae-joon sold all his shares of BM Bio.

***

[...A heatwave warning has been issued for most parts of the country. The average temperature recorded was between 33 and 35 degrees, and in some areas, it went up to 36 degrees. This 'scorching heat' that started over the weekend continues, and people are struggling to cope. Such extreme heat is particularly dangerous for young children and the elderly....]

With a fan running to one side and the door of the shoemaker's shop wide open, Kim Gwang-seop muttered as he listened to the news on the radio.

"It really is hot."

Though it was a bit cooler than midday, it was still hot enough for sweat to run down his back even if he stayed still. The clock on the wall pointed to 5 PM before he knew it.

"Since there aren't many customers, I guess I should head home for the day."

Kim Gwang-seop slowly stood up. Because of the heat, there were hardly any passersby on the street. There wouldn't be any more customers coming even if he stayed open.

After closing the shop and securely locking it, Kim Gwang-seop headed to the nearby station and took the subway home.

When he arrived at Chang-dong Station and stepped outside, dusk had already fallen. The apartment where Kim Gwang-seop lived was about a 10-minute walk from there.

Kim Gwang-seop, who had made a fortune through stock investment, owned assets worth over 30 billion won, including a small building in Yeouido. Although he could afford to live in a high-end, newly built apartment in a better location like Gangnam or Yeouido, he had lived here for twenty years because he couldn't let go of the memories with his wife and daughter, who had died in a car accident long ago.

However, since the apartment was scheduled for redevelopment and demolition would begin in a few months, his days there were numbered.

As Kim Gwang-seop trudged along the familiar streets, he stopped at the crosswalk at the intersection. A little girl, about four years old, was standing beside him, holding the hand of a young woman who seemed to be her mother.

As he waited for the light to turn green, he casually turned his head and met the eyes of the little girl, who gave him a bright smile.

Moved by the pure and innocent smile of the child, Kim Gwang-seop couldn't help but wave back at her. 'It brings back old memories.' As the face of his daughter, who used to hold his hand and walk around the neighborhood with a smile, suddenly came to mind, Kim Gwang-seop felt a sharp pang in his chest. The longing that he thought had faded over time resurfaced vividly.

At that moment, the signal changed, and the little girl waved her hand as if saying goodbye and walked across the crosswalk with her mother. With a bittersweet smile, Kim Gwang-seop followed a step behind them.

When he was halfway across the crosswalk, he noticed a BMW speeding towards them. The signal had already turned green, but the BMW showed no signs of slowing down as it approached.

His eyes widened in shock. Quickly turning his head, Kim Gwang-seop looked at the mother and daughter walking ahead of him. The girl's mother also saw the BMW hurtling towards them, but she was so shocked that she froze in place, unable to move.

At this rate, the BMW would hit them directly.

"No, no!"

At that moment, the faces of his wife and daughter, whom he had lost in a car accident, flashed before his eyes, and without hesitation, Kim Gwang-seop ran forward.

"Get out of the way!"

He forcefully pushed the frozen mother and daughter aside and shut his eyes tightly as he saw the BMW still barreling towards him at full speed.

TL/n - 

Yeouido is a fascinating place! It's a river island on the Han River in Seoul, South Korea. Known as Seoul's main finance, media, and investment banking district, Yeouido is home to some of the city's tallest skyscrapers, including the International Finance Center Seoul and the iconic 63 Building.

The island also hosts significant landmarks like the National Assembly Building, the headquarters of major corporations like LG, and the Korean Broadcasting System

***

A pump and dump scheme is a form of securities fraud that involves artificially inflating the price of a stock (the "pump") to attract investors, often through misleading or exaggerated claims. Once the price is sufficiently high, the fraudsters sell their shares at a profit (the "dump"), causing the stock price to plummet and leaving other investors with significant losses.

***

For Non-Finance People =>

Imagine you have a toy that isn't very popular and doesn't cost much. Now, let's say you start telling everyone that this toy is going to be the next big thing. You might even get some friends to help you spread the word. As more and more people hear about it, they start buying the toy, and its price goes up.

The "Pump" Phase

1. Hype Creation: You and your friends create a lot of excitement about the toy, making it seem like it's going to be very valuable.

2. Price Increase: As more people believe the hype and buy the toy, its price starts to rise quickly.

The "Dump" Phase

1. Selling at High Price: Once the price is high enough, you and your friends sell all your toys at this inflated price.

2. Price Drop: After you sell, the hype dies down, and people realize the toy isn't worth that much. The price then crashes, leaving the new buyers with toys that are worth much less than what they paid.

Why is it Bad?

Misleading Information: The initial excitement is based on false or exaggerated claims.

Financial Losses: People who bought the toy at a high price end up losing money when the price drops.

Illegal: This practice is illegal in the stock market because it manipulates prices and deceives investors.

In the stock market, this scheme involves artificially inflating the price of a stock through misleading statements, then selling off the shares at the peak price before the truth comes out and the stock price plummets.