The weekend drama ‘Undercover Miss Hong‘ delivered two intense back-to-back episodes that saw a roommate’s tragic decision shake the foundations of the 301 dormitory while Park Shin-hye and Ha Yoon-kyung formed an unlikely partnership to pull off a dangerous financial heist. The tvN series, set during the 1997 IMF financial crisis, continues to grip audiences with its mix of corporate intrigue and heartfelt friendships.
Episode 9, which aired on February 14, and Episode 10, which followed on February 15, took viewers on an emotional rollercoaster. The episodes recorded impressive viewership ratings, with Episode 10 achieving an average of 8.6% nationwide and peaking at 9.9% across paid platforms including cable, IPTV, and satellite services. The drama also secured the top spot in its time slot for the key 20-49 demographic, proving its strong hold on audiences .
Kim Mi-sook’s Tragic Decision Shakes the 301 Dormitory
The emotional core of Episode 9 centered on Kim Mi-sook, played by Kang Chae-young, who found herself in an impossible situation. The fund products she had sold through Hanmin Securities crashed due to the financial crisis, leaving her clients with massive losses. Lawsuits piled up against her, and the crushing weight of potentially leaving her young daughter with overwhelming debt pushed Mi-sook to make a devastating choice .
Before taking action, Mi-sook left two letters behind. One was addressed to Hanmin Securities Chairman Kang Pil-beom, played by Lee Deok-hwa, and the other to her roommate Hong Geum-bo. In the letter to Geum-bo, a shocking revelation came to light. Mi-sook had received help years ago from an accountant while working at a firm. That accountant was none other than Hong Geum-bo herself, though at the time Mi-sook knew her by a different name. Mi-sook had never forgotten Geum-bo’s kindness, and when they coincidentally reunited as roommates, she began to suspect that Geum-bo had reasons for hiding her identity. Rather than exposing her, Mi-sook chose to keep the secret safe .
The discovery of Mi-sook unconscious sent shockwaves through the 301 dormitory. Go Bok-hee (Ha Yoon-kyung) and Kang No-ra (Choi Ji-soo) were devastated alongside Geum-bo. The tragedy exposed the fault lines in their friendship. Go Bok-hee, consumed by rage, revealed Kang No-ra’s true identity in front of everyone. No-ra was not just a low-level employee struggling to make ends meet. She was the daughter of Chairman Kang Pil-beom, the very man Geum-bo had been desperately trying to bring down through her undercover investigation .
The revelation shattered the trust the roommates had built through countless shared meals and late-night conversations. Chairman Kang, upon learning that his daughter had been living in the company dormitory with regular employees, ordered No-ra to leave immediately and return home. The once lively Room 301 fell into an uncomfortable silence, the friendship of four women now hanging by a thread .
Hong Geum-bo Reaches Breaking Point in Explosive Confrontation
The pressure of maintaining her undercover identity while dealing with Mi-sook’s tragedy finally pushed Hong Geum-bo (Park Shin-hye) to her limit. In Episode 9, she faced off against Research Department Head Cha Jung-il, played by Im Cheol-soo, in a confrontation that shocked everyone at Hanmin Securities .
Cha Jung-il had a long history of making outdated remarks and disrespecting subordinates. When he dismissed Mi-sook’s story as mere office gossip, something snapped inside Geum-bo. The still cuts released before the episode showed Geum-bo glaring at Cha with an icy expression, and the aftermath revealed Cha sprawled on the floor, leaving viewers to wonder exactly what happened .
The members of the former Crisis Management Team including Department Head So Kyung-dong (Seo Hyun-chul), Manager Bang Jin-mok (Kim Do-hyun), Crisis Management Headquarters Head Albert Oh (Jo Han-gyul), and Manager Lee Yong-gi (Jang Do-ha) rushed to the scene and stood frozen in shock. After the situation settled, Albert Oh tried to comfort the still-fuming Geum-bo, showing sympathy for her unresolved anger .
Hanmin Securities attempted to contain the damage by calling in Geum-bo and Bok-hee for meetings, warning them to stay quiet about Mi-sook’s situation. But Geum-bo had reached the end of her patience with the company’s cold-blooded response to human tragedy .
Shin Jung-woo’s Hidden Agenda Comes into Focus
While Geum-bo dealt with personal chaos, Shin Jung-woo (Ko Kyung-pyo) began to reveal his true intentions. He had secretly partnered with DK Ventures, a foreign investment firm, to inject funds into Hanmin Securities. The company was struggling without government support during the IMF crisis, making it a prime target for a corporate takeover .
DK Ventures made it clear they would only proceed with the acquisition if Hanmin Securities reduced its workforce. Departments across the company were ordered to compile lists of employees to be laid off. Long-time employees like Department Head So Kyung-dong, who had dedicated 25 years to the company, faced forced resignation. Manager Bang Jin-mok found his name on the layoff list .
The disbandment of the Crisis Management Team hit Geum-bo and her colleagues hard. With no team to belong to, Geum-bo was forced to interact with Cha Jung-il on a daily basis. Albert Oh, who had been unexpectedly promoted to deputy director, faced subtle disrespect in his new department and lost interest in work. Lee Yong-gi joined them, and the three former teammates gathered in the old Crisis Management Headquarters office late at night. They shared instant noodles and wistfully remembered their resigned colleague Bang Jin-mok, creating a bittersweet moment of connection amid the chaos .
Shin Jung-woo, upon confirming that Geum-bo had not left the company, called his superior Director General Yoon Jae-beom (Kim Won-hae) to complain. He continued scheming to push Geum-bo out, leaving viewers questioning his motives. Was he worried that Geum-bo’s presence would disrupt his plan to take over Hanmin Securities? Or did he genuinely care about her safety and want her away from the dangerous situation? The ambiguity added another layer of tension to the unfolding drama .
The Slush Fund Ledger Returns in Unexpected Way
Just when Geum-bo thought all hope was lost, the missing secret slush fund records of Hanmin Securities reappeared in the most unexpected place. Mi-sook’s daughter Kim Bom (Kim Se-ah) had been carrying the documents in her sketchbook all along, completely unaware of their importance .
Geum-bo now held the key to bringing down Chairman Kang and exposing the corruption at Hanmin Securities. As a securities supervisor working undercover, her mission was nearly complete. She could return to her original position at the Financial Supervisory Service as a hero. But Mi-sook’s situation changed everything .
Instead of heading back to her old life with the evidence in hand, Geum-bo made a different choice. She approached her roommate Go Bok-hee with a risky proposal. “Want to join me?” she asked, suggesting they work together to steal the slush funds hidden by Hanmin Securities .
Bok-hee initially refused. As someone with a past record of embezzlement, she knew the risks better than anyone. But Geum-bo’s unwavering loyalty to her colleague’s daughter touched something in her. Geum-bo took responsibility for Mi-sook’s child when the dorm supervisor discovered Kim Bom and forced her to leave. She sent the girl to stay with her own family, showing the depth of her commitment to helping those she cared about .
Moved by Geum-bo’s loyalty and remembering the memories the four roommates had built together, Bok-hee eventually softened and accepted the proposal. The ace securities investigator who once dominated the financial district and the seasoned embezzler who leaves no trace officially joined forces .
The Tense Heist Unfolds in Episode 10
Episode 10 delivered edge-of-your-seat tension as Geum-bo and Bok-hee put their plan into action. They recruited Kang No-ra to help, though she had no idea what she was actually getting into. No-ra, feeling guilty about Mi-sook’s situation and eager to prove herself, enthusiastically agreed to assist .
No-ra’s role was to act as Geum-bo’s stand-in, keeping Secretary Song Ju-ran (Park Mi-hyun) occupied while Geum-bo carried out the actual withdrawal. Geum-bo headed to a regional bank to access the slush funds that had been funneled into her account as part of her cover within the Yeouhoe group .
The final piece of the operation hinged on Secretary Song verifying the identity of the person making the withdrawal over the phone. If Song confirmed the transaction, the money would be released. If something went wrong, Geum-bo would be caught red-handed .
The editing masterfully cut between three parallel scenes. No-ra stalled for time, keeping Song trapped in her office with conversation. Bok-hee paced anxiously in Song’s outer office, stamping her feet with nervous energy. And Geum-bo watched the bank branch manager dial the phone number, holding her breath as the call connected. The episode ended on this nail-biting cliffhanger, leaving viewers desperate to know what happens next .
Ratings Success and Fan Reactions to Episodes 9-10
The back-to-back episodes clearly resonated with audiences. Episode 10’s peak rating of 9.9% represents a significant jump from previous weeks and demonstrates the drama’s growing popularity. The target demographic of viewers aged 20-49 also ranked first in its time slot across all channels, including major terrestrial broadcasters .
Fans took to online communities to share their enthusiastic reactions to the episodes. Comments highlighted the strong casting, with one viewer noting, “The casting fits perfectly. They are all the characters themselves.” Another praised the emotional moments, writing, “The crisis management headquarters coming together is touching. The best team.” .
Park Shin-hye’s performance drew particular praise. Viewers commented, “Park Shin-hye completely owns Hong Geum-bo,” and “Park Shin-hye devours the role of Hong Geum-bo.” The growing partnership between Geum-bo and Bok-hee also excited fans, with reactions like, “I feel at ease when Geum-bo and Bok-hee are on the same side,” and “Go Geum-bo and Bok-hee go! The cooperation is so thrilling.” .
The Room 301 roommates continue to be a favorite aspect of the show for many viewers. One fan simply stated, “I like the roommates in room 301,” while another commented on the episode’s pacing, “The ending was really tense. Time flew by.” .
The Fracturing of Room 301 Friendships
While the heist provided thrills, the emotional fallout from Mi-sook’s situation continued to affect the roommates. Go Bok-hee’s anger toward the Hanmin Securities founding family remained raw. She blamed Chairman Kang and his associates for pushing Mi-sook to the edge, and by extension, she held Kang No-ra responsible simply for being her father’s daughter .
Kang No-ra found herself caught between two worlds. She had left the dormitory and returned to her family home, but she couldn’t shake the guilt and lingering attachment to her former roommates. In her own way, she tried to make amends by paying Mi-sook’s hospital bills. However, the gesture did little to warm the cold relations with Geum-bo and Bok-hee .
Still cuts released before Episode 10 showed Geum-bo, Bok-hee, and No-ra meeting in a hospital lobby. An unusually tense atmosphere surrounded the three women, their awkward glances hinting at permanently changed relationships. Another still captured No-ra’s transformed appearance. She had shed her regular employee uniform and began visiting Hanmin Securities with her mother, Choi In-ja (Byun Jung-soo), as part of the company’s leadership circle .
Geum-bo and Bok-hee, adapting to the rapidly changing situation, secretly summoned No-ra to the emergency stairs. Viewers were left wondering whether the two would offer No-ra an olive branch or deliver a warning. The uncertain future of the four women’s friendship added emotional weight to the corporate intrigue unfolding at Hanmin Securities .
What Happened to the Crisis Management Team
The dissolution of the Crisis Management Team left its former members scattered across different departments, each dealing with the aftermath in their own way. Bang Jin-mok, who had been revealed as the whistleblower ‘Yepi’ in Episode 7, resigned from the company entirely. His departure left a void in the team that his former colleagues felt deeply .
Albert Oh, who had been investigating the truth behind his uncle’s death, found himself adrift after the team disbanded. His unexpected promotion to deputy director should have been a step up, but the subtle disrespect he faced in his new department made him lose interest in work. He joined Lee Yong-gi and Geum-bo for late-night ramen sessions in their old office, wistfully missing the camaraderie they had once shared .
These scenes of former teammates gathering in their empty office, sharing simple meals and remembering their colleague, provided some of the most heartfelt moments in Episode 10. They reminded viewers that even amid corporate chaos and personal betrayals, genuine connections could still exist.
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The Road Ahead for ‘Undercover Miss Hong’
With the slush fund heist underway and relationships among the roommates hanging in the balance, ‘Undercover Miss Hong’ has set the stage for an exciting second half. Geum-bo and Bok-hee’s partnership represents a formidable alliance. One knows how to investigate financial crimes, and the other knows how to make money disappear without leaving traces .
Kang No-ra’s position as Chairman Kang’s daughter puts her in an impossible spot. If she helps her former roommates, she betrays her family. If she sides with her father, she loses the only real friends she has ever had. The choices she makes in upcoming episodes will likely determine the fate of everyone involved.
Shin Jung-woo’s plans for Hanmin Securities continue to move forward, but Geum-bo’s presence complicates his calculations. Whether he ultimately protects her or sacrifices her for his ambitions remains an open question.
The drama airs its 11th episode on Saturday, February 21, at 9:10 p.m. on tvN. International viewers can catch the series on Netflix, with new episodes added shortly after the Korean broadcast. For viewers in the United States, the United Kingdom, Canada, Australia, and India, subtitled versions typically become available within hours of the domestic airing.
Also Read: Kang Doo-joon’s Bold Public Confession Shocks Everyone in Positively Yours Episode 9
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