ตอนที่ 96

倊倇倇倥倸 96

俱倸倝倉俸倠倰個倕倥倸倒倉倚倡倄倚倸倗倉倛倨倹倉倳倉倊倓値候倡倇 OTK 倱倇俴俱倒倩倱倕倠俹倡倉倴倄倹倓倡倊倰俷値倉俱倡倉俴倉倕倠 13,000 倕倹倢倉倗倝倉 倱倕倠 1,300 倕倹倢倉倗倝倉倅倢們倕倣倄倡倊 倛倕倡俷俸倢俱倉倡倹倉俱倷倇倣俷倢倉倰個倷倉倎倉倡俱俷倢倉俲倝俷倊倓値候倡倇 K 倱倕倠倳俺倹俺倥倗値倅倄倹倗倒倰俷値倉倰倄倧倝倉倰倄倧倝倉倕倠 10 倕倹倢倉倗倝倉

倝倒倸倢俷倴倓俱倷倅倢們 俱倷倴們倸們倥俴倗倢們俸倣倰個倷倉倅倹倝俷倳俺倹倰俷値倉們倢俱 倰倎倓倢倠俴倸倢倳俺倹俸倸倢倒倰倓倧倸倝俷俷倢倉倇倡倹俷倛們倄倓倩倄倌倸倢倉倊倡倅倓倊倓値候倡倇 倱倆們倓倆個倝倓值倰俺倸俱倷倒倡俷倳俺倹倳倉倓倠倊倊倕倥倚俲倝俷倊倓値候倡倇

倅倕倝倄倰倗倕倢倇倥倸倌倸倢倉們倢 俹倡倉倇倣倰俷値倉倴倄倹們倢俱倎倝倚們俴倗倓 倆倦俷倰倗倕倢俸倸倢倒個倡倉倌倕倱倕倹倗

個倥倉倥倹倊倓値候倡倇 OTK 倰倅値倊倲倅倱倊倊俱倹倢倗俱倓倠倲倄倄

倱們倹倱倅倸個倥倉倥倹倰倝俷 倊倓値候倡倇 OTK 倱倕倠倊倓値候倡倇 K 俱倷倇倣倰俷値倉倴倄倹倓倢倗 35,000 倕倹倢倉倄倝倕倕倢倓值俸倢俱 Brexit 倱倕倠倝倥俱 2,800 倕倹倢倉倄倝倕倕倢倓值俸倢俱俱倢倓倰倕倧倝俱倅倡倹俷個倓倠倈倢倉倢倈値倊倄倥倚倛倓倡倀

倰倎倓倢倠倰倓倢倒倡俷倅倹倝俷倕俷倇倨倉倅倸倝倳倉倝倉倢俴倅 倒値倸俷們倥倰俷値倉倚倣倓倝俷倐倢倒倳倉們倢俱俱倷倒値倸俷倄倥

個倡俸俸倨倊倡倉 倛倕倡俷俸倢俱俴倗倊倓倗們俱倡倊倴俴倓倚倰倕倝倓值 俴倢倕倝倚俱倷俱倣倕倡俷俲倒倢倒倲倓俷俷倢倉倱倕倠個倓倡倊個倓倨俷倚倢倒俱倢倓倌倕値倅 倛倢俱俴値倄倗倸倢俸倠倰倉倹倉倎倡倂倉倢倓倆倓倨倸倉倳倛們倸 個倓倡倊俴倨倃倐倢倎 倱倕倠倇倄倕倝俷倓倠倊倊俲倡倊俲倥倸倝倡倅倲倉們倡倅値倱倇倉倇倥倸俸倠倓倥倊倇倣倒倝倄俲倢倒 俱倷俴俷倒倢俱俸倠倓倩倹倴倄倹倗倸倢俸倠倅倹倝俷倳俺倹倰俷値倉倕俷倇倨倉倰倎値倸們倰們倧倸倝倴倛倓倸 們倢俱俱倗倸倢俸倠倇倣俱倣倴倓倴倄倹倳倉俺倸倗俷倉倥倹

倱倅倸俱倢倓俸倸倢倒個倡倉倌倕俴倓倡倹俷倉倥倹俱倷倆倧倝倗倸倢倰倎倥倒俷倎倝倱倕倹倗

"俱倸倝倉倝倧倸倉 個倥倉倥倹倰倓倢俸倠俸倸倢倒個倡倉倌倕 50,000 倕倹倢倉倗倝倉"

倰俷値倉個倡倉倌倕倅倹倝俷倰倚倥倒倐倢候倥倰俷値倉倴倄倹俸倢俱個倡倉倌倕 15.4% 倱倕倠倆倹倢倓倢倒倴倄倹倇倢俷俱倢倓倰俷値倉倰俱値倉 20 倕倹倢倉倗倝倉俱倷俸倠倆倩俱倉倣倴個倓倗們俱倡倊倓倢倒倴倄倹倓倗們倇倡倸倗倲倕俱倰倎倧倸倝俴倣倉倗倃倐倢候倥

倰倉倧倸倝俷俸倢俱倐倢候倥倰俷値倉倴倄倹倓倗們俴倣倉倗倃倰個倷倉倓倢倒個倥 俱倢倓俱倓倠俸倢倒俸倸倢倒個倡倉倌倕倴個倛倕倢倒個倥倒倸倝們倄倥俱倗倸倢俸倸倢倒倳倉個倥倰倄倥倒倗 倱倅倸倰倎倓倢倠倓倢倒倴倄倹俸倢俱倰俷値倉倰倄倧倝倉倱倕倠俴倸倢俸倹倢俷倰俱値倉 100 倕倹倢倉倗倝倉倝倒倩倸倱倕倹倗 倰俷値倉個倡倉倌倕倚倸倗倉倳倛俽倸俱倷俸倠倅俱倝倒倩倸倳倉俲倡倹倉倐倢候倥倚倩俷倚倨倄倝倒倩倸倄倥

倊倓値候倡倇 OTK 俹倡倉倆倧倝倛倨倹倉 80% 倱倇俴俱倒倩 17% 倱倕倠倎倥倸倞倒倝倉俸倩 3%

倆倹倢俸倸倢倒個倡倉倌倕 50,000 倕倹倢倉倗倝倉 俹倡倉俸倠倴倄倹 40,000 倕倹倢倉 倱倇俴俱倒倩倴倄倹 8,500 倕倹倢倉 倱倕倠倎倥倸倞倒倝倉俸倩倴倄倹 1,500 倕倹倢倉 倱倅倸倎倝倛倡俱倐倢候倥倱倕倹倗俱倷俸倠倰倛倕倧倝倱俴倸俴倓倦倸俷倛倉倦倸俷

"倇倣倴們倐倢候倥們倡倉倚倩俷俲倉倢倄倉倥倹?"

"倛倢倰俷値倉倴倄倹俱倷倅倹倝俷俸倸倢倒倐倢候倥倚値 俴値倄俻倠倗倸倢倇倣倄倹倗倒倳俸倒値倉倄倥倰倎倧倸倝個倓倠倰倇倘倱倕倠個倓倠俺倢俺倉"

倆倹倢們倡倉倆倩俱倰倝倢倴個倳俺倹倝倒倸倢俷倆倩俱倅倹倝俷 俸倠倰倚倥倒倐倢候倥倴個俱倷倴們倸倰個倷倉倴倓

倱倇俴俱倒倩倇倣倛倉倹倢俷俷倱倕倹倗倎倩倄倗倸倢

"倱倕倹倗倎倗俱倇倥倸倅倡倹俷倊倓値候倡倇倳倉倱倛倕倸俷倐倢候倥倅倸倣倰倕倥倸倒俷倐倢候倥倉値倅値倊倨俴俴倕倉倡倸倉倕倸倠?"

"倉倡倸倉們倡倉..."

俹倡倉俱倷倎倩倄俱倕倡倊倴個倱倊倊俸倓値俷俸倡俷倗倸倢

"俱倷倉倢倒倰個倷倉俴倉倅倡倹俷倊倓値候倡倇倉倥倸 倴倝倹倊倹倢"

倱們倹倅倝倉倉倥倹俹倡倉俸倠倰個倷倉倌倩倹倆倧倝倛倨倹倉倳倛俽倸 倱倅倸俴倉倇倥倸俱倸倝倅倡倹俷倊倓値候倡倇倉倥倹俱倷俴倧倝倲倝倱倇俴俱倒倩 倰倎倓倢倠俷倡倹倉俺倧倸倝倊倓値候倡倇倆倦俷倴倄倹倰個倷倉倊倓値候倡倇 OTK

倚倨倄倇倹倢倒們倡倉俱倷倆倧倝倰個倷倉倰倓倧倸倝俷倄倥

倆倹倢俹倡倉倅倡倹俷倊倓値候倡倇倳倉倰俱倢倛倕倥 俴俷倅倹倝俷俸倸倢倒倐倢候倥倉値倅値倊倨俴俴倕倛倕倢倒倕倹倢倉倕倹倢倉倗倝倉 倴們倸倳俺倸倗倸倢倊倓値候倡倇倓倠倄倡倊倲倕俱倱倕倠倰俸倹倢俲倝俷倰倓倧倝倅倡倹俷倊倓値候倡倇倳倉倱倛倕倸俷倐倢候倥倅倸倣俱倡倉倰倕倸倉倶

倰倓倢倒倡俷倅倡倄倚値倉倳俸俸倸倢倒倲倊倉倡倚倱倒俱 5,000 倕倹倢倉倗倝倉倳倛倹俻倥倝倥倲倝俲倝俷倊倓値候倡倇 K

倱們倹俸倠倴倄倹倒値倉倅倡倗倰倕俲倱倕倹倗 倚倥倛倉倹倢俲倝俷俻倡俷倒倝倊俱倷倴們倸倴倄倹倅倧倸倉倰倅倹倉倉倡俱

"倐倢候倥俴俷倰倒倝倠倉倸倢倄倩"

倛倨倹倉倇倥倸倎倗俱倰俲倢倆倧倝倝倒倩倸倅倝倉倉倥倹們倥們倩倕俴倸倢 100,000 倕倹倢倉倗倝倉倝倒倩倸倱倕倹倗 倱倆們倒倡俷俴倢倄倗倸倢俸倠倰倎値倸們俲倦倹倉個倥倕倠 2% 們倩倕俴倸倢倛倨倹倉俱倷俸倠倚倩俷俲倦倹倉倰倓倧倸倝倒倶

"倊倢俷倇倥俱倷倚俷倚倡倒倗倸倢俹倡倉俸倠倛倢倰俷値倉倴倄倹倱倊倊倉倥倹俸倓値俷倶倰倛倓倝"

"俱倷倰倎倓倢倠倓倨倸倉倎倥倸倇倣俷倢倉倛倉倡俱倉倡倸倉倱倛倕倠"

"俲倝倊俴倨倃倇倥倸倇倣倅倢們俴倣倱倉倠倉倣倉倠 倰倄倥倻倒倗倉倥倹倱俴倸 Brexit 倲倌倕倸們倢倳倉倍倡倉 俹倡倉俱倷倅倧倸倉倇倡倉倇倥"

"倌倕倝倝俱們倢倅倓俷俲倹倢們倛倓倧倝倴俷?"

倓倨倸倉倎倥倸俻倡俷倒倝倊倒値倹們們倨們個倢俱倱倕倹倗倅倝倊倗倸倢

"倴們倸 倌倕俱倷倰倛們倧倝倉倰倄値們倉倡倸倉倱倛倕倠 倱倅倸倅倝倉倉倡倹倉俹倡倉倴們倸倅倢們倉倢倒倱倕倹倗俲倢倒倛們倄俱倸倝倉"

倎倝倴倄倹倒値倉俱倷倛倡倗倰倓倢倠倝倝俱們倢倎倓倹倝們俱倡倉

俹倡倉倎倩倄倆倦俷倲倊倉倡倚倚値倹倉個倥倳倉倇倥倸個倓倠俺倨們倎倉倡俱俷倢倉倇倡倹俷倛們倄 倉倝俱俸倢俱俴倸倢倌倕俷倢倉倇倥倸俸倸倢倒倴個倱倕倹倗 倰倓倢倒倡俷倅倡倄倚値倉倳俸倳倛倹倲倊倉倡倚倰倎値倸們倰個倷倉倚倝俷倰倇倸倢俲倝俷倰俷値倉倰倄倧倝倉個倓倠俸倣個倥倝倥俱

倱們倹倊倓値候倡倇俱倢倓倰俷値倉倳倉倰俱倢倛倕倥俸倠倴們倸俴倸倝倒倇倣俱倡倉 倱倅倸倆倹倢倴個倄倩倊倓値候倡倇俱倢倓倰俷値倉倅倸倢俷俺倢倅値俸倠倓倩倹倰倕倒倗倸倢個倢倓值倅倥倹倰俷値倉倚値倹倉個倥倉倥倸倴們倸倳俺倸倰倕倸倉倶

倱們倹倳倉俺倸倗俷倗値俱倔倅俱倢倓倰俷値倉 倈倉倢俴倢倓倰倎倧倸倝俱倢倓倕俷倇倨倉倚倛倓倡倀俱倷倒倡俷俱倕倹倢俸倸倢倒倲倊倉倡倚倌倕俷倢倉倛倕倡俱倕倹倢倉倄倝倕倕倢倓值俸倢俱倰俷値倉倐倢候倥個倓倠俺倢俺倉倇倥倸倴倄倹們倢倰個倷倉倇倨倉俹倨俱倰俹値倉 (倲俱倕倰倄倹倉倰俱倅俱倷倓倗們倝倒倩倸倄倹倗倒)

個倥倉倥倹倰倓倢倇倣倰俷値倉倴倄倹俲倉倢倄倉倥倹 個倢倓值倅倥倹倰俷値倉倱倊倊倉倥倹俱倷倴們倸倰俱値倉倴個

倎倉倡俱俷倢倉倅倸倢俷倚倸俷倰倚倥倒俷倰俺倥倒倓值倱倕倠個倓倊們倧倝倳倛倹俱倡倊倲倊倉倡倚倇倥倸倴們倸俴倢倄俴値倄

倱個倠 倱個倠!

"倗倹倢倗!"

"俲倝倊俴倨倃俴倓倡倊!"

"俸倠倅倡倹俷倳俸倇倣俷倢倉倰倅倷們倇倥倸!"

"俸値倉倞倩... 倰倝倸倝 倇倸倢倉倅倡倗倱倇倉倚倨倄倒倝倄倴個倰倕倒!"

倄倥俸倓値俷 倰倛倷倉倓倨倸倉倎倥倸俱倥倞俷倄倥倳俸俸倉俸倠倰個倷倉倕們俱倷俺倧倸倉倳俸

倆倹倢倴們倸倴倄倹倄倦俷倅倡倗倰俲倢們倢俸倢俱倊倓値候倡倇 K 倕倸倠俱倷 俴俷倰個倷倉倒倡俷倴俷倉倠?

* * *

We met Hyunjoo’s sister and Ellie at the Golden Gate branch manager’s office.

倰倓倢倎倊倎倥倸倞倒倝倉俸倩倱倕倠倰倝倕倕倥倸倇倥倸倛倹倝俷倇倣俷倢倉俲倝俷倌倩倹俸倡倄俱倢倓倚倢俲倢倲俱倕倰倄倹倉倰俱倅

Since I work in the building next door, I usually see each other about once a day, but this time it’s only been a few days.

個俱倅値俹倡倉倇倣俷倢倉倝倒倩倸倅倦俱俲倹倢俷倶 俸倦俷倴倄倹倰俸倝俱倡倉倱倇倊倇倨俱倗倡倉 倱倅倸俴倓倢倗倉倥倹倰倎値倸俷倴倄倹倰俸倝俱倡倉倝倥俱倛倕倡俷俸倢俱倌倸倢倉倴個倴們倸俱倥倸倗倡倉

They both looked tired. I think I should lie down in bed and sleep instead of drinking coffee.

倇倡倹俷俴倩倸倄倩倰倛倉倧倸倝倒倕倹倢 俹倡倉俴値倄倗倸倢俴倗倓俸倠倴個倉倝倉倎倡俱倊倉倰倅倥倒俷們倢俱俱倗倸倢俸倠們倢倉倡倸俷倄倧倸們俱倢倱倏

“When I looked at the lobby, I could see the staff I had never seen before. Did you pick a new one?”

"倅倝倉俹倡倉們倝俷俸倢俱倕倷倝倊倊倥倹 倰倛倷倉倎倉倡俱俷倢倉倇倥倸倴們倸倰俴倒倰倛倷倉們倢俱倸倝倉 倓倡倊俴倉倳倛們倸倰倛倓倝?"

said Ellie.

倰倝倕倕倥倸倎倩倄俲倦倹倉

“These are the employees who came from the Asian branch for work.”

"倎倗俱倉倡倹倉倰個倷倉倎倉倡俱俷倢倉倇倥倸們倢俸倢俱倚倢俲倢倰倝倰俺倥倒倰倎倧倸倝倇倣俷倢倉"

“What’s going on?”

"們倥倰倓倧倸倝俷倝倠倴倓倛倓倝?"

Hyun-joo’s older sister answered briefly.

倎倥倸倞倒倝倉俸倩倅倝倊倚倡倹倉倶

“M&A.”

"俱倢倓俴倗倊倓倗們倱倕倠俻倧倹倝俱値俸俱倢倓"

Showing interest, Hyunjoo noona gave a brief explanation.

倎倥倸倞倒倝倉俸倩倱倚倄俷俴倗倢們倚倉倳俸倱倕倹倗倝倈値倊倢倒倚倡倹倉倶

“Private equity funds under Golden Gate will form a consortium with a domestic company to participate in the acquisition. Originally, the Korean branch should take care of it, but as you know, the system is not yet established, so a due diligence team came in from the Asian branch.”

"俱倝俷倇倨倉倴倎倓倰倗倇倝倥俴倗値倅倥倹倐倢倒倳倅倹倲俱倕倰倄倹倉倰俱倅俸倠倓倸倗們俱倡倊倊倓値候倡倇倳倉個倓倠倰倇倘俸倡倄倅倡倹俷俴倝倉俻倝倓值倰倇倥倒們倰倎倧倸倝倰俲倹倢倓倸倗們俱倢倓俻倧倹倝俱値俸俱倢倓 倰倄値們倇倥俴倗倓倰個倷倉倛倉倹倢倇倥倸俲倝俷倚倢俲倢倰俱倢倛倕倥 倱倅倸倓倠倊倊倇倥倸倉倥倸俱倷倒倡俷倴們倸倕俷倅倡倗 倰倕倒倅倹倝俷倳倛倹倇倥們倅倓倗俸倚倝倊俸倢俱倚倢俲倢倰倝倰俺倥倒們倢俺倸倗倒"

Ellie added.

倰倝倕倕倥倸倰倚倓値們俲倦倹倉

“It’s a team I used to work with.”

"倰個倷倉倇倥們倇倥倸俹倡倉倰俴倒倇倣俷倢倉倄倹倗倒"

This is Hyun-joo’s sister’s specialty. The task I was in charge of at the Asian branch was M&A for Korean companies.

倉倥倸俴倧倝俴倗倢們倆倉倡倄俲倝俷倎倥倸倞倒倝倉俸倩 俷倢倉倇倥倸倰倈倝倓倡倊倌値倄俺倝倊倇倥倸倚倢俲倢倰倝倰俺倥倒俱倷俴倧倝俱倢倓俴倗倊倓倗們倱倕倠俻倧倹倝俱値俸俱倢倓俲倝俷倊倓値候倡倇倰俱倢倛倕倥

“What kind of sale is it?”

"倊倓値候倡倇倴倛倉倇倥倸俸倠俲倢倒?"

“X-Cop.”

"倰倝倷俱俻值俴倝個"

I asked surprised.

俹倡倉倆倢們倝倒倸倢俷倅俱倳俸

“It’s a company that has a contract with us.”

"倉倡倸倉們倡倉倊倓値候倡倇倇倥倸倇倣倚倡俽俽倢俱倡倊倰倓倢倝倒倩倸倉倥倸"

“right.”

"倳俺倸"

X-cop is a security company currently in charge of security and management of Golden Gate Building and OTK Building. The same goes for my mother and our bodyguards.

倰倝倷俱俻值俴倝個倰個倷倉倊倓値候倡倇倄倹倢倉俴倗倢們個倕倝倄倐倡倒倇倥倸倄倩倱倕倓倡俱候倢俴倗倢們個倕倝倄倐倡倒倱倕倠俸倡倄俱倢倓倝倢俴倢倓倲俱倕倰倄倹倉倰俱倅倱倕倠倝倢俴倢倓 OTK 倓倗們倆倦俷倄倩倱倕倱們倸俲倝俷俹倡倉倱倕倠倊倝倄倥倹俱倢倓值倄俲倝俷倎倗俱倰倓倢

“This time, the American security company Typo Group put Xcop on sale in the Korean market.”

"俴倓倡倹俷倉倥倹 倊倓値候倡倇倄倹倢倉俴倗倢們個倕倝倄倐倡倒俲倝俷倝倰們倓値俱倢 倴倇倲個俱倓倨债個 倉倣倰倝倷俱俻值俴倝個倝倝俱俲倢倒倳倉倅倕倢倄倰俱倢倛倕倥"

Typo Group bought Xcop for 500 billion won in the early 2000s. Since then, markets such as security services, building management, and personal security have grown, and Xcop has also grown significantly. As of last year, sales reached 894 billion won and operating profit reached 189 billion won.

倴倇倲個俱倓倨债個俻倧倹倝倰倝倷俱俻值俴倝個倴個倳倉俺倸倗俷倅倹倉倇倘倗倓倓候 2000 倄倹倗倒倓倢俴倢 500,000 倕倹倢倉倗倝倉 倉倡倊倱倅倸倉倡倹倉 倅倕倢倄倊倓値俱倢倓倓倡俱候倢俴倗倢們個倕倝倄倐倡倒 俱倢倓俸倡倄俱倢倓倝倢俴倢倓 倱倕倠俱倢倓倓倡俱候倢俴倗倢們個倕倝倄倐倡倒倚倸倗倉倊倨俴俴倕倰倅値倊倲倅俲倦倹倉們倢俱 倱倕倠倰倝倷俱俻值俴倝個俱倷倰倅値倊倲倅倝倒倸倢俷們倢俱倰俺倸倉俱倡倉 倃 個倥倇倥倸倱倕倹倗們倥倓倢倒倴倄倹 894,000 倕倹倢倉倗倝倉 倱倕倠俱倣倴倓俸倢俱俱倢倓倄倣倰倉値倉俷倢倉 189,000 倕倹倢倉倗倝倉

“Currently, the largest security company in Korea is DS, a subsidiary of the Seosung Group. And the second company is Xcop. Sales and operating profit are steadily increasing every year, accounting for about 10% of Typo Group’s total sales.”

"個倡俸俸倨倊倡倉 倊倓値候倡倇倄倹倢倉俴倗倢們個倕倝倄倐倡倒倇倥倸倳倛俽倸倇倥倸倚倨倄倳倉倰俱倢倛倕倥俴倧倝 DS 俻倦倸俷倰個倷倉倊倓値候倡倇倳倉倰俴倓倧倝俻倝倕俻倨俷俱倓倨债個 倱倕倠倝倡倉倄倡倊倚倝俷俱倷俴倧倝倰倝倷俱俻值俴倝個 倒倝倄俲倢倒倱倕倠俱倣倴倓俸倢俱俱倢倓倄倣倰倉値倉俷倢倉倰倎値倸們俲倦倹倉倝倒倸倢俷倅倸倝倰倉倧倸倝俷倇倨俱個倥 俴値倄倰個倷倉倓倢倗 10% 俲倝俷倒倝倄俲倢倒倓倗們倇倡倹俷倛們倄俲倝俷倴倇倲個俱倓倨债個"

“Then why are you selling it?”

"俷倡倹倉倇倣倴們倆倦俷俸倠俲倢倒倕倸倠?"

It’s not a loss, it’s a surplus. If you manage it as well as it is now, you will get cash every year, so do you really need to sell it?

俱倷倴們倸倴倄倹俲倢倄倇倨倉 倱倆們倒倡俷們倥俱倣倴倓 倆倹倢倊倓値倛倢倓倄倥倰倛們倧倝倉倅倝倉倉倥倹俱倷們倥倰俷値倉倚倄倴倛倕倰俲倹倢倇倨俱個倥 倱倕倹倗俸倣倰個倷倉倅倹倝俷俲倢倒俸倓値俷倶倰倛倓倝?

“I don’t know if you’ve read the article, but a while ago, the Taipo Group headquarters went into a chaos due to accounting fraud. I was in urgent need of cash right away, so I started disposing of overseas assets.”

"倴們倸倓倩倹倗倸倢倉倢倒倴倄倹倝倸倢倉俲倸倢倗倛倓倧倝倰個倕倸倢 倱倅倸倴們倸倉倢倉們倢倉倥倹倚倣倉倡俱俷倢倉倳倛俽倸俲倝俷倴倇倲個俱倓倨债個倰俱値倄俴倗倢們倗倨倸倉倗倢倒倰倎倓倢倠俱倢倓個倕倝們倱個倕俷倊倡俽俺倥 倇倣倳倛倹倅倹倝俷俱倢倓倰俷値倉倚倄倝倒倸倢俷倰倓倸俷倄倸倗倉 俸倦俷倰倓値倸們俲倢倒倚値倉倇倓倡倎倒值倳倉倅倸倢俷個倓倠倰倇倘"

“Ah! I think I saw it.”

"倝倻倝! 俹倡倉倗倸倢俹倡倉倰俴倒倰倛倷倉俲倸倢倗"

In the past, it was expressed that makeup was powder-painted. Powder paint makes your face look pretty.

倰們倧倸倝俱倸倝倉們倥俴倣倎倩倄倰個倓倥倒倊倰倇倥倒倊倗倸倢俱倢倓倱倅倸俷倛倉倹倢倰倛們倧倝倉俱倢倓倇倢倱個倹俷 倰倎倓倢倠倇倢倱個倹俷倱倕倹倗倛倉倹倢倄倩倚倗倒

The same goes for companies. Even an insolvent company full of losses can be transformed into a sound company with high sales and operating profit if it is divided into accounting books.

倊倓値候倡倇俱倷倰俺倸倉俱倡倉 倱們倹俸倠俲倢倄倇倨倉倒倡倊 倱倅倸倆倹倢俸倡倄俱倢倓倅倡倗倰倕俲倳倉倚們倨倄倊倡俽俺倥倳倛倹倄倥 俱倷倚倢們倢倓倆倄倩倰倛們倧倝倉倊倓値候倡倇倇倥倸們倡倸倉俴俷 們倥倒倝倄俲倢倒倱倕倠俱倣倴倓倚倩俷倴倄倹

As such, accounting fraud refers to the act of distributing accounting books.

倄倡俷倉倡倹倉 俱倢倓個倕倝們倱個倕俷倊倡俽俺倥俱倷俴倧倝俱倢倓俸倡倄俱倢倓倅倡倗倰倕俲倳倉俷倊俱倢倓倰俷値倉倳倛倹倄倩倄倥倰俱値倉俴倗倢們俸倓値俷倉倡倸倉倰倝俷

倱倉倸倉倝倉倗倸倢倉倡倸倉倰個倷倉倚値倸俷倌値倄俱俾倛們倢倒倱倕倠倰個倷倉倝倢俺俽倢俱倓倓們

倳倉倰俱倢倛倕倥倝倢俸們倝俷俲倹倢們倴個倴倄倹倰倎倓倢倠倇倥倸倉倡倸倉俴倸倝倉俲倹倢俷倌倸倝倉個倓倉倅倸倝倝倢俺俽倢俱倓倓們倇倢俷俱倢倓倰俷値倉 倱倅倸倳倉倚倛倓倡倀倝倰們倓値俱倢倉倡倹倉倆倧倝倰個倷倉俴倗倢們倌値倄倓倹倢倒倱倓俷倇倥倸們倥倲倇候俸倣俴倨俱倅倕倝倄俺倥倗値倅 俲倦倹倉倝倒倩倸俱倡倊俸倣倉倗倉倰俷値倉倇倥倸倰俱倥倸倒倗俲倹倝俷

倝倒倸倢俷俱倓倃倥俲倝俷 Enron 倇倥倸倕倹們倕倠倕倢倒倰倎倓倢倠俱倢倓俹倹倝倲俱俷倇倢俷倊倡俽俺倥 CEO 俱倷倆倩俱倘倢倕倚倛倓倡倀倅倡倄倚値倉俸倣俴倨俱 24 個倥

"倓倢俴倢俲倢倒倰倇倸倢倴倛倓倸?"

"俲倡倹倉倅倸倣俱倷 2 倕倹倢倉倕倹倢倉倗倝倉 倚倩俷倚倨倄倝倢俸倆倦俷 3 倕倹倢倉倕倹倢倉倛倓倧倝們倢俱俱倗倸倢倉倡倹倉"

俹倡倉俴倸倝倉俲倹倢俷倅俱倳俸

"倉倸倢倇倦倸俷俸倓値俷倶"

倉倥倸們倢俱俱倗倸倢倊倓値候倡倇倒倸倝倒俲倝俷俱倕倨倸們倊倓値候倡倇倒倡俱候值倳倛俽倸倛倕倢倒倱倛倸俷倰倚倥倒倝倥俱

倎倥倸倞倒倝倉俸倩倎倒倡俱倛倉倹倢倓倢倗俱倡倊倰倛倷倉倄倹倗倒

"倳倉倅倕倢倄倰俱倢倛倕倥 倉倥倸倆倧倝倰個倷倉倄倥倕倳倛俽倸倇倥倸倲倌倕倸們倢倳倉倓倝倊倛倕倢倒個倥 俴倗倓俸倡倊倅倢倰倝倢倴倗倹倊倹倢俷"

"倱倕倹倗倲俱倕倰倄倹倉倰俱倅倓倡倊俺倸倗俷倅倸倝倴倄倹倴倛們?"

倛倕倡俷個倥 2000 倰個倷倉倅倹倉們倢 倇倨倉俱倢倓倰俷値倉倳倉個倓倠倰倇倘倆倦俷倰倓値倸們倇倣 M&A 俱倡倉俸倓値俷俸倡俷 俱倸倝倉倛倉倹倢倉倡倹倉倊倓値候倡倇 IB 倓倠倄倡倊倲倕俱倱倕倠俱倝俷倇倨倉倴倎倓倰倗倇倝倥倰俴倗倅倥倹倅倸倢俷倞倨倊倊倓値候倡倇倳倉個倓倠倰倇倘倴個倄倹倗倒倇倨倉們倛倢倘倢倕

倲俱倕倰倄倹倉倰俱倅俱倷們倥個倓倠倗倡倅値倇倣 M&A 倛倕倢倒俴倓倡倹俷倳倉倅倕倢倄倰俱倢倛倕倥 倐倢倒倳倅倹俱倢倓倉倣俲倝俷倰俺倚 倰俻倢倇值倰倗倕倕值

"倅倝倉倉倥倹倇倡倹俷倊倓値候倡倇倳倛俽倸倱倕倠俱倝俷倇倨倉倴倎倓倰倗倇倝倥倰俴倗倅倥倹俺倡倹倉倉倣倳倉倱倕倠倅倸倢俷個倓倠倰倇倘倅倸倢俷俱倓倠倲倄倄倕俷們倢倱倕倹倗 倄倩倇倸倢俸倠倰個倷倉倘倦俱倄倗倕倄倢倗倰倕倒倇倥倰倄倥倒倗 俴俷倴們倸俷倸倢倒倰倇倸倢倴倛倓倸"

"倱倕倹倗倳俴倓們倥倲倝俱倢倚們倢俱倇倥倸倚倨倄?"

俴倣倅倝倊倉倡倹倉倇倣倳倛倹倌們個倓倠倛倕倢倄倳俸

"倝倦倉俻倝俷俱倓倨债個"

倱倇俴俱倒倩倆倢們俲倦倹倉

"倎倗俱倰俲倢們倢倒倨倸俷倝倠倴倓倄倹倗倒?"

"倅倝倉倉倥倹倝倦倉俻倝俷俱倓倨债個倱倇倊俸倠倍倢俱俴倗倢們個倕倝倄倐倡倒倇倡倹俷倛們倄倴倗倹俱倡倊 DS 俻倦倸俷倰個倷倉倊倓値候倡倇倳倉倰俴倓倧倝俲倝俷俱倕倨倸們倈倨倓俱値俸倝倡倉倄倡倊倛倉倦倸俷 俱倕倨倸們倳倛俽倸倝倡倉倄倡倊倚倝俷倅倹倝俷倎倦倸俷倎倢倊倓値候倡倇倳倉倰俴倓倧倝俲倝俷俴倩倸倱俲倸俷倝倡倉倄倡倊倛倉倦倸俷倝倒倩倸 倄倡俷倉倡倹倉 個倓倠倈倢倉倞倡倉 們値倉俱倩倰倕倒俴値倄俸倠倳俺倹倲倝俱倢倚倉倥倹俻倧倹倝 Xcop 倱倕倹倗倰倝倢們倢倰個倷倉倊倓値候倡倇倳倉倰俴倓倧倝倅倡倗倰倝俷"

倰倝倕倕倥倸倰倚倓値們

"倝倦倉俻倝俷們倝倰倅倝倓值俴値倄俸倠倅倡倹俷倛倓倧倝俻倧倹倝倊倓値候倡倇倄倹倢倉俴倗倢們個倕倝倄倐倡倒們倢倉倢倉倱倕倹倗 倎倝倄倥倅倝倉倉倥倹們倥倚値倉俴倹倢倇倥倸倰倛們倢倠倝倝俱倚倩倸倅倕倢倄 倰倕倒俴値倄俸倠俴倗倹倢們倢"

倲倄倒倇倡倸倗倴個 俱倕倨倸們倊倓値候倡倇倒倡俱候值倳倛俽倸俱倡倊俱倝俷倇倨倉倴倎倓倰倗倇倝倥倰俴倗倅倥倹們倡俱們倥倰個倹倢倛們倢倒俱倢倓俻倧倹倝俱値俸俱倢倓倅倸倢俷俱倡倉

俱倕倨倸們倊倓値候倡倇倒倡俱候值倳倛俽倸們倡俱們倨倸俷俸倠俲倒倢倒倅倡倗倄倹倗倒俱倢倓倰倝倢倰俲倹倢倰個倷倉倊倓値候倡倇倳倉倰俴倓倧倝 倚倸倗倉俱倝俷倇倨倉倴倎倓倰倗倇倝倥倰俴倗倅倥倹俸倠俻倧倹倝們倢倳倉倓倢俴倢倇倥倸倰倛們倢倠倚們倱倕倹倗俲倢倒倅倸倝倳倉倓倢俴倢倚倩俷倚倨倄倰倇倸倢倇倥倸俸倠倇倣倴倄倹

倄倡俷倉倡倹倉 倊倓値候倡倇倒倡俱候值倳倛俽倸倝倢俸倒倝們俸倸倢倒倰俱値倉們倩倕俴倸倢俸倓値俷倴倄倹 俲倦倹倉倝倒倩倸俱倡倊倗倸倢倎倗俱倰俲倢倅倹倝俷俱倢倓們倢俱倱俴倸倴倛倉

倱倇俴俱倒倩倎倩倄俲倦倹倉

"俷倡倹倉俲倝倓倢俴倢倱倎俷倶 倴個倰倕倒倴們倸倄倥俱倗倸倢倰倛倓倝?"

俱倷倴們倸倌値倄倛倓倝俱

倒値倸俷倓倢俴倢倚倩俷 倲倝俱倢倚俺倉倠個倓倠們倩倕俱倷倒値倸俷們倢俱 倱倅倸俱倢倓倇倨倸們倰俷値倉倚倩俷倰俱値倉倴個倲倄倒倴們倸俴値倄倛倉倹倢俴値倄倛倕倡俷俱倷倝倡倉倅倓倢倒

"個倡俽倛倢俱倷俴倧倝俴倣倚倢個倌倩倹俺倉倠"

倅倡倗倝倒倸倢俷俺倡倄倰俸倉俴倧倝俱倢倓倇倥倸俱倕倨倸們俴倩倲們倠倞倨倊俱値俸俱倢倓倱倄倞倩 E&C

倅倝倉倉倡倹倉俴倩倲們倠俻倧倹倝倴倄倹倚倣倰倓倷俸倲倄倒俸倸倢倒倰俱値倉倓倢俴倢倅倕倢倄倆倦俷 90% 倱倅倸倓倢俴倢倇倥倸俻倧倹倝倝倒倸倢俷倴倓倹倰倛倅倨倌倕倉倡倹倉俱倕倢倒倰個倷倉個倡俽倛倢倐倢倒倛倕倡俷 倚倨倄倇倹倢倒倇倡倹俷俱倕倨倸們倅倹倝俷倰俲倹倢倚倩倸俱倓倠倊倗倉俱倢倓個倓倡倊倲俴倓俷倚倓倹倢俷倛倉倥倹倰倎倓倢倠倴們倸們倥倰俷値倉俸倸倢倒倉倡俱倕俷倇倨倉俱倢倓倰俷値倉

倰倎倧倸倝倰倕倥倸倒俷倚倆倢倉俱倢倓倃值倱倊倊倉倡倹倉 倅倹倝俷個倓倠倰們値倉們倩倕俴倸倢倊倓値候倡倇倝倒倸倢俷倰個倷倉俱倕倢俷 倚値倸俷俸倣倰個倷倉倳倉俱倓倠倊倗倉俱倢倓倉倥倹俴倧倝俱倢倓倅倓倗俸倚倝倊倚倆倢倉倠倝倒倸倢俷倕倠倰倝倥倒倄 倇倡倹俷倒倝倄俲倢倒 俱倣倴倓倚倨倇倈値 倱倕倠倚倐倢倎俱倢倓倄倣倰倉値倉俷倢倉

俹倡倉俴倓倨倸倉俴値倄倝倒倩倸俴倓倩倸倛倉倦倸俷

倱倉倸倉倝倉倗倸倢倛倕倡俷俸倢俱倅倡倗倅倉倆倩俱倰個値倄倰倌倒 倚値倸俷倇倥倸倅倹倝俷俱倡俷倗倕倇倥倸倚倨倄俱倷俴倧倝俴倗倢們個倕倝倄倐倡倒

倱們倹倰倇倥倒倊俱倡倊個倓倠倰倇倘倎倡倂倉倢倱倕倹倗 倰俱倢倛倕倥俱倷們倥俴倗倢們個倕倝倄倐倡倒倚倩俷們倢俱 倱倅倸俱倷倒倡俷倰俱値倄倝倢俺俽倢俱倓倓們倓倨倉倱倓俷倝倒倩倸倰倚們倝 倱倕倠倊倢俷俴倓倡倹俷俴倉倄倡俷倛倓倧倝俴倓倝倊俴倓倡倗俱倷倆倩俱倕倡俱倎倢倅倡倗倛倓倧倝俶倢倅俱倓倓們

們倝俷倳倉倱俷倸俴倗倢們倉倸倢俸倠倰個倷倉 倲倝俱倢倚倰俱値倄俴倸倝倉俲倹倢俷倅倸倣 倱倅倸俱倷倅倹倝俷倰倅倓倥倒們俴倗倢們個倕倝倄倐倡倒倴倗倹倰倎倧倸倝倓倡倊們倧倝倱們倹倰倎倥倒俷俴倓倡倹俷倰倄倥倒倗

俸倓値俷倶 倆倹倢倰個倷倉倰倎倥倒俷俱倢倓值倄倓倡俱候倢俴倗倢們個倕倝倄倐倡倒倇倡倸倗倴個 俱倷們倝倊倛們倢倒倱倊倊個倡俸俸倨倊倡倉倴倄倹 倱倅倸倰倓倢倒倡俷倅倹倝俷俱倡俷倗倕倰倓倧倸倝俷俴倗倢們個倕倝倄倐倡倒俲倝俷倝倢俴倢倓倱倕倠倈倨倓俱値俸倄倹倗倒

倆倹倢倝倦倉俻倝俷們倝倰倅倝倓值俻倧倹倝 Xcop 倅倝倉倉倥倹 倰倓倢俱倷倅倹倝俷倰個倕倥倸倒倉倴個倳俺倹倊倓値候倡倇倝倧倸倉 倱倕倹倗倰倓倢俸倠們倝倊俴倗倢們個倕倝倄倐倡倒倳倛倹倊倓値候倡倇倳倉倰俴倓倧倝倅倡倗倰倝俷倴們倸倴倄倹倛倓倧倝?

"倇倣倴們倊倓値候倡倇 OTK 倆倦俷倴們倸倰俲倹倢倓倸倗們俻倧倹倝俱値俸俱倢倓倕倸倠?"

倰倝倕倕倥倸倆倢們倄倹倗倒俴倗倢們個倓倠倛倕倢倄倳俸倳倉俴倣倎倩倄俲倝俷俹倡倉

"倛倢?"

"俴値倄倶倄倩倱倕倹倗 俹倡倉倗倸倢倎倗俱倰倓倢倅倹倝俷們倥倊倓値候倡倇倄倹倢倉俴倗倢們個倕倝倄倐倡倒"

倰倓倢們倥倝倥俱倛倕倢倒倊倓値候倡倇倉倝俱俸倢俱 OTK 俱倡倊 K 倄倡俷倉倡倹倉倰倓倢們倥俴倗倢們倅倹倝俷俱倢倓倳俺倹倰倝俷

俹倡倉倴們倸俴倸倝倒倝倒倢俱倍倢俱倰倓倧倸倝俷倚倣俴倡俽倝倒倸倢俷俴倗倢們個倕倝倄倐倡倒倴倗倹俱倡倊倊倓値候倡倇倝倧倸倉倰倇倸倢倴倛倓倸

倎倥倸倞倒倝倉俸倩俴倢倊倊倨倛倓倥倸倴倗倹倳倉個倢俱

"倰倎倓倢倠俸倣倰個倷倉 倛倓倧倝倰倎倓倢倠倚倸倗倉倅倡倗?"

倉倡倸倉倰個倷倉俴倣倆倢們倇倥倸倰俹倥倒倊俴們們倢俱

倰倎倓倢倠倰倓倢俸倣倰個倷倉倅倹倝俷們倥倊倓値候倡倇倄倹倢倉倉倥倹俸倓値俷倶 倛倓倧倝倰倎倓倢倠倝倒倢俱倴倄倹倇倓倡倎倒值倚値倉倇倥倸倝倦倉俻倝俷俱倷倰倕倷俷倝倒倩倸?

俹倡倉倴們倸倅倹倝俷俴値倄倉倢倉 俴倣倅倝倊俱倷倌倨倄俲倦倹倉們倢倇倡倉倇倥

"倇倡倹俷倚倝俷倝倒倸倢俷"

"俱倢倓倰倝倢倰倓倧倸倝俷倚倸倗倉倅倡倗們倢個倉倳倉倈倨倓俱値俸倴們倸倳俺倸倰倓倧倸倝俷倄倥倉倠"

俹倡倉倒値倹們

"倎倥倸俱倷倓倩倹倴們倸倳俺倸倰倛倓倝倗倸倢倌們倇倣倈倨倓俱値俸倰倎倓倢倠倰倓倧倸倝俷倚倸倗倉倅倡倗"

倆倹倢倴們倸倳俺倸倰倎倓倢倠倰倓倧倸倝俷倚倸倗倉倅倡倗 倅倝倉倇倥倸俹倡倉倇倣倰俷値倉倴倄倹 6.85 倛們倧倸倉倕倹倢倉倗倝倉 俹倡倉俴俷倰倕値俱倕俷倇倨倉倱倕倹倗倳俺倹俺倥倗値倅倝倒倸倢俷倚倨俲倚倊倢倒 倳俺倹倰俷値倉倉倡倹倉倱倊倊倴們倸倝倡倹倉

倆倹倢倰個倷倉倱倊倊倉倡倹倉 俹倡倉俱倷俴俷們倢倴們倸倆倦俷俸倨倄倉倥倹

"倱倉倸倳俸倉倠?"

倆倹倢們倝俷倳倉倱俷倸俱倢倓俻倧倹倝倊倓値候倡倇倄倹倗倒倰俷値倉 們倡倉俱倷俴倕倹倢倒俱倡倊俱倢倓倕俷倇倨倉倳倉倚倅倢倓值倇倝倡倎

倱倅倸們倥俴倗倢們倱倅俱倅倸倢俷俴倓倡倹俷倳倛俽倸倰倎倥倒俷俲倹倝倰倄倥倒倗

倚倅倢倓值倇倝倡倎倇倥倸倰倓倢倕俷倇倨倉倴個俱倸倝倉倛倉倹倢倉倥倹倕倹倗倉倰個倷倉倊倓値候倡倇倅倡倹俷倳倛們倸倱倕倠倴們倸們倥俴倩倸倱俲倸俷

倱倅倸倳倉倇倢俷俱倕倡倊俱倡倉 X-Cop 倰個倷倉倊倓値候倡倇倇倥倸個倓倠倚倊俴倗倢們倚倣倰倓倷俸倝倒倩倸倱倕倹倗 倱倆們倊倓倓倄倢倊倓値候倡倇倳倛俽倸倱倕倠俱倝俷倇倨倉倴倎倓倰倗倇倝値俴倗値倅倥倹俺倧倸倝倄倡俷倓倠倄倡倊倲倕俱倇倥倸倱俴倸倰倝倸倒俺倧倸倝俱倷倓倩倹俸倡俱 倅倸倢俷俱倷俱倣倕倡俷倛們倢倒倅倢倝倒倩倸

倰倓倢俸倠倚倢們倢倓倆倱俻俷倛倉倹倢倎倗俱倉倡倹倉倱倕倠倰俲倹倢俻倧倹倝倴倄倹俸倓値俷倛倓倧倝?

俹倡倉倴們倸倴倄倹俴値倄倆倦俷倲倞倲倕倱俱倓們俲倦倹倉們倢倳倉倇倡倉倇倥 倱倅倸俱倕倡倊倓倩倹倚倦俱倱個倕俱倶 倗倸倢們倡倉倉倸倢俸倠倴個倴倄倹倚倗倒

俹倡倉倎倒倡俱倛倉倹倢

"倌們們倡倸倉倳俸"

倱倇俴俱倒倩俱倷倰倛倷倉倄倹倗倒倇倡倉倇倥

"俹倡倉倗倸倢們倡倉倉倸倢俸倠倚倉倨俱倄倥倉倠"

倎倥倸倞倒倝倉俸倩倒値倹們倎倕倢俷倄倡倊倊倨倛倓倥倸倳倉們倧倝

“俷倡倹倉俱倷倕倝俷倄倩倚値 們倡倉俸倠倰個倷倉個倓倠倚倊俱倢倓倃值倇倥倸倒倝倄倰倒倥倸倒們倰倕倒”