A craze for China-derived theme stocks blew up suddenly in the stock market.

With China's rise unfolding at a fearsome rate as it pursued its reform and opening-up policy, the talk spread that companies which had gone into China would be greatly favoured, and China theme stocks began going into the limit-up one after another.

When Ilhyeon Windows' rise came to a stop, people showed great interest in the China theme stocks that had newly begun to climb.

Just as the Ilhyeon Windows story was on the point of dying away in the market, a report came out of Future Asset that turned the market's attention back to Ilhyeon Windows.

[How long will Ilhyeon Windows' fraud continue?]

The title, with the word fraud driven into it, was as forceful as the report that had come out of the Japanese securities house.

[We suspect that Ilhyeon Windows' fraud is deliberate. The way disclosures are put out at opportune moments to prop up the share price calls to mind a manipulation stock in the stock market. No one should invest in such a stock, and if one has invested, one should sell at market price whatever the profit and whatever the loss. Strip away the letters that spell Ilhyeon and it is a company with no value worth investing in — a cancerous presence that ought not to exist in the stock market]

Future Asset had denied the very existence of the thing before ever getting to its value.

[Target price cannot be calculated]

Following the Japanese securities house, which had said to sell at once, Future Asset assessed Ilhyeon Windows by saying that a target price could not be calculated.

That a domestic securities house rather than a foreign one — and Future Asset at that, which with its explosive rise exerted a great influence on the stock market — had valued Ilhyeon Windows' stock as wastepaper set the market violently heaving.

Ilhyeon Windows, which had been retreating little by little out of the market's attention, stood at the centre once more.

[Ilhyeon Windows: 34,290 won –14.7%]

When Future Asset's report…