Music. K, k. Music. K. Music. Music. K. Music. K, k. Music. Music. C. Music. K. Music. K. Music. P. Music. K. Music. K. Music. C. Music. K. Music. K. Music. C. Music. P. Music. K. Music. Music. Music. In the world of finance and economics, there are interesting stories. This is the start of Iki's Park Sidong Show. Hello, everyone. It's Friday. You've worked hard all week. Just a few hours left until the weekend. Hang in there. Now, the news I've prepared for today. First of all, have you seen the thumbnail? Deutsche Motors' suspicion of manipulating stock prices. Yes, I will explain this a bit easier. But you might think, I said to have a happy Friday, why bring up such a headache-inducing topic on a Friday? Don't worry, difficult topics will be discussed at the end.

Yes, then let's start. What will be the topic? A very simple story that I want to share with all of you. Yes, I will talk about that. What is it? Yes, it's about the Olympics. Because it's the Olympic season, so I will share easy stories with you and try some difficult ones later. So, I will go straight into it. First, the news I prepared for today. Yes, everyone, the Olympics are in full swing right now. Many of you must be watching. There are exciting and good news about our country's athletes. Oh, the first thing is about Celine Dion's performance at the opening ceremony. We can't not talk about it, right? I was so touched by it, so I think I've listened to that song about 2 million times all day long. I'm just listening to that song. It's so touching for me. So, I asked people around me, Hey, did you see Celine Dion's performance? Did you see it too? It was so.

It was fun, but surprisingly, those who are a bit younger than me didn't know at all what song it was. Why is it so touching? People who didn't know were quite many. So, I explained it, and then they said, Oh, if it has that kind of meaning and context, it must be touching. Only then did some people start to empathize. So, I thought, I should share this with our readers. Yes, I thought I should share this with you all. So today, I am going to ask for your empathy. Please, I hope you can feel the same emotions as I do. First of all, I brought news about Celine Dion. At the end of the Olympic opening ceremony, the torch always rises, it's always a highlight. But this time, right after the torch rose and it seemed to end, as soon as it ended, the torch rose, and the screen changed abruptly to the Eiffel Tower, the camera...

As we move on, what was that called? The song keeps playing. That was The Prayer of Love. Even if I say who was that, what was that, the song was The Prayer of Love. When I looked, it was Celine Dion. It was so touching. Now, let me think about that song first. The Prayer of Love. Yes, everyone, it's a French song, a representative song of chanson. It's known as The Prayer of Love. It's a globally famous song. That's why it's well-known in Korea as well, and many people know it because it's often sung at karaoke. So, I thought everyone knew it, but the juniors below didn't know. It's frustrating. It's a generation gap. Anyway, The Prayer of Love was so famous. So, who sings The Prayer of Love? It must be this person, right? The icon of chanson, Edith Piaf.

Edith Piaf became a singer. She sang the praises of love. Now, let's take a closer look. Edith Piaf grew up in a very poor environment. I found out recently that she grew up in such a poor and harsh environment that she didn't grow tall. She was only 142 cm tall. She was so small. Right now, I'm worried that I might get a sore throat from broadcasting. In fact, she grew up in a terribly harsh environment. Well, as a woman, you can imagine how life would be if you had no money back then. She grew up in a very harsh environment, but because she had outstanding talent and voice, she grew up to be a great singer. She went through a lot of hardships, but in the end, she truly

I met love. He was a boxer, they say. His name is Marcel Cerdan. Oh, I want to say it in a cool French way, but anyway, Marcel Cerdan didn't originally say Marcel, it should be Maxcel, I'm sorry. Anyway, in the process of meeting his beloved Edith Piaf, who he loved so much, he unfortunately died in a plane crash. He was so disappointed. At the end of his difficult life, he met true love, which made him save his farewell. It was so sad. So, after struggling for a while, he created this song, Love's Participation. If you search for it, you will see that it is poignant. No matter how the world changes, if our love exists, it will be eternal, we can be connected, and with love, I can do anything, just like the lyrics praise eternal love for a lover. It's truly amazing.

It's a song, so it will be a song that has touched many people around the world. But where did this song come from? Who would have thought it would come from the Eiffel Tower? Yes, if you say Paris, it must be the Eiffel Tower, right? I'm sure everyone knows, but just to repeat, the Eiffel Tower was built in 1889, a long time ago. At that time, when it was being built, people criticized it a lot, saying, What is this ugly, strange iron thing in the middle of elegant buildings in Paris? So there are many interesting episodes. So, who do you think was the most criticized person, saying, What is this monstrosity? It was Monet. So, Monet goes to the Eiffel Tower every day to have lunch. So when asked, Why do you hate the Eiffel Tower so much if you go there for lunch every day? what do you think he said?

You know, I really didn't want to see the Eiffel Tower, but the only place where I could eat without seeing the Eiffel Tower was a restaurant in the Eiffel Tower. There is a funny story that Monsieur Moi Parisian had lunch at the Eiffel Tower every day. Moreover, Monsieur Moi even built his tomb leaning against the Eiffel Tower after his death. There are various criticisms related to the Eiffel Tower at that time, and how it became a symbol of France after piercing through that era. Anyway, it is now a symbol of France. From the symbol of France, the representative song of Chanson, La Vie en Rose, echoes at the Eiffel Tower. The time is late at night, the rain is falling, and that's when La Vie en Rose starts playing. Someone pointed out a white spot, and suddenly appeared. Who was that? Oh, Celine Dion surprised everyone.

Oh, aren't they the top 3 divas in the world? Whitney, Mariah, Celine, the top 3 divas. Whitney left us, Mariah is doing well, but anyway, there was sad news about Celine Dion recently. Yes, due to muscle strength, she is reportedly undergoing treatment worldwide, causing concern and worry to many people. Let's watch the video once. Celine Dion lying down, making a painful expression, and the caregiver tells her to hold his hand tightly. Spraying oxygen spray. So, many fans are wishing for Celine Dion's health and her return to the stage, but in reality, I thought we might not see the same glamorous appearance as before when she was a diva on stage. I really didn't know that. In the middle of the Eiffel Tower, that small

A white spot shone like a jewel, and at the end, there was a poignant feeling, and that was Celine Dion. Yes, after tremendous effort, after rehabilitation, eventually, she was able to sing to the point of being able to sing, showing her singing to the whole world. Oh, witnessing the return of the diva, the return of the queen, while listening to Edith Piaf's deeply moving love song, the romance that Paris, France holds, the Eiffel Tower holds, Celine Dion's overcoming of illness. When all of this comes together, it is very touching, truly unique when listening to the song. So, since that day, I have been listening to songs every day. Shall we watch the singing scene again? We have seen Queen Elizabeth of England as a queen for over 100 years, but it seems fitting to call her a queen now. That appearance of Celine Dion, that video, and looking down at Paris from behind the Eiffel Tower.

Scenes also come out a little, so cool. Anyway, when I think about this song, Paris, romance, Celine Dion, and our memories, we were deeply moved at the inauguration ceremony. So, I keep watching it now. I've watched it for the 2 millionth time. I wanted to share the excitement with you, so I tried an exciting national singing. Then, there are various news about our country's athletes. It's not sports news, but it's so random and what's this about, right? So, I watched it, and it was so funny. Suddenly, there was a person who became a global star. Let's watch the video first. At the competition held in Azerbaijan, he won a gold medal in shooting. After finishing shooting, applause erupted, and the atmosphere was great. Everyone, that video is amazing. After watching that video, Elon Musk tweeted about it.

Let me show you a capture. I did it like this. If a shooting world champion from an action movie comes out, it would be cool. Kim Ye-ji should be cast in an action movie right away. She doesn't need acting skills. That's it. Right now, that video has around 45 million views, almost 50 million views. It's causing a sensation. So, isn't she the current top player? It's a sensation. When I looked into it, the athlete in that video was a representative shooter of South Korea. Oh, impressive. It's amazing. It's like coming out of an old movie like Leon or John Wick, isn't it? A chilling feeling, straight posture, pale face, expressionless feeling. Oh, that posture is just like Kim Ye-ji, the player. Oh, the form is insane. I want to tell you this kind of story. And precisely hitting the target, she broke the world record.

It was the day I woke up, won the gold medal, and cleaned my gun right after winning. But after cleaning the gun, I looked at the camera expressionlessly. Lately, I may seem a bit cold, but oh, I stared so coolly. Let's watch the video again. After the shot, applause erupted in the background, and the announcer closed the door. Oh, the sight of me staring at the camera, looking like a delinquent reporter, was so intimidating. I was taken aback. It was so cool. That's why this is a worldwide sensation. Yes, athlete Kim Yeji. Oh, amazing. So, she already won the silver medal, but tomorrow, she will compete in her main event, the 25m air rifle. Probably, if she wins the gold medal worldwide, it will be like a movie star shooting a gun, and it will be a big deal. Everyone, yes, everyone, please enjoy watching it tomorrow. Suddenly, rising star Kim Yeji's real shooting in action.

Would you see me tomorrow? I've shared the Olympic news with you. What is the most important thing in the Olympics? It's stamina, right? What is the essence of stamina? A healthy liver, isn't it? What's in the liver? It's albumin. Let me try it. It tastes amazing. Why does it taste so good? Yes, the taste is great, but it's even better for your body. Do you know the famous Dr. Nam Jae-hyun? Dr. Nam Jae-hyun, the director, personally created this. It's the best for liver health and fatigue recovery. Yes, it contains 2,500mg of albumin. It's packed with good vitamins for the body, arginine, especially good for men, and iron. Liver function is necessary. Those who need it, fathers, students, office workers, it's great for everyone, regardless of age or gender. Try drinking a bottle a day for your liver.

Recovery is excellent. I highly recommend Alboin. You can also purchase it at Sidong Wiki Store. Here is the phone number: 12-2-152-242. Please call and consult to make a purchase. Oh, everyone, don't forget this. If someone asks you why you called, say you were recommended by Park Sidong. Leave that message. They are having an unbelievable price, and even a 1+1 special event, so please buy it now. This is Kang Namjaehyun from GanGen. Now, what is good for our bodies? In the summer, isn't it Korean ginseng? Yes, Korean ginseng, pure white, premium Korean ginseng. It's time to consume Korean ginseng. Oh, thank you. To stay by the side of our young energy for a long time, we must take care of our Korean ginseng diligently. Enjoy the blessings.

I also think it's great, but this is called Jangran Sanyang Samsam grown on the slopes of Jirisan Mountain. It's amazing. There's such a big difference between eating and not eating it because it's so cheap. Oh, that's right. As soon as you eat it, you feel energized, like your mind is opening up. It's like recharging yourself. Now, let's stop lightly the enjoyable Olympic stories we shared together and move on to some more challenging stories. I have some news for you today. There was an exclusive article in the Hankyoreh about which I will explain the story easily. I previously introduced the first part in our economic sponsor by doing something called BW. I mentioned that I would explain the 2nd and 3rd parts in more detail. However, just this Wednesday, I appeared on the Hongsaun Show and talked about this as the main topic.

I tried, but the broadcast wasn't as easy as I thought. Many evaluations say it came out difficult. So, it's not working out. Yes, I should explain it easily on my show. It can't be helped. Therefore, today, you can watch the show again, or you can watch the rerun. Today, I've prepared some news for you. Briefly, let me tell you. An exclusive report from the Hankyoreh Newspaper came out. The content from last week is this. What is the most talked about thing right now? It's the Deutsche Motors stock manipulation case, right? But the case that has been the center of attention so far is this. Kim Geon-hee, the wife, and also Kwun Ho-soo from Deutsche Motors, and then Kim Geon-hee's mother, and so on. Anyway, various stock manipulation forces have been manipulating the market, so to speak, to raise stock prices.

Through the manipulation of stock prices using a technique called pump-and-dump, some individuals made a lot of money by inflating the prices. As a result, trials are currently taking place. However, why isn't Ms. Kim being investigated? This case is the most talked about at the moment. Besides this case, there was an incident until 2012. Apart from that, there are reports of new suspicions of stock manipulation. The previous case ended in 2012, but this seems to be a completely new case that may have continued from 2012 to even 2015, 2016, or 2017. Some Korean media outlets speculate that this is not a new case at all. So, what kind of case is this? Let's take a closer look. There are some unusual aspects in the stock manipulation or some suspicious parts. However, the previous case was simple, just manipulating prices and so on.

But in the second case, when asked what comes out, it's a bit unusual to say that BW comes out. So, in the last video, I explained what BW is. So, for more details, please watch the previous video. In a brief explanation, BW is a convertible bond with warrants. For example, if a company doesn't have money, they say, Give us money, and issue bonds. Then, if a creditor says, Okay, I'll give you money, they give the money, receive a certificate, give the money, receive a certificate. This is a company, but the same company structure. This has an option at the end. Let's use a difficult term for this. We'll use warrants. Warrants are attached, and what is the content of these warrants? It means that at a predetermined price, if certain conditions are met later, when you demand new shares from your company, if you pay money, the company must issue new shares at that price.

It's like having one more option than a regular company car, right? So why did things like this come about in the world? It's like this: Hey, lend me some money. Okay, then. If I say I'll take 10%, it becomes a 10% return company car. Oh, 10% is too expensive. So if I say, I'll take 3%, then I become a fool, right? Creditors will say, I can get 10% interest, why ask for 3%? So, to compensate for the reduced interest for you, our creditors, we will provide a means to compensate. If you invest with us and engage in good corporate activities, our company's stock price will rise in the future. Then, you can buy our company's stock at a low price, and sell it later when the stock price goes up. With the profit, you can compensate for the interest to some extent. So, in order to lower the cost of fundraising, we offer this instead.

From the perspective of accumulating money that replaces various options, it's good that the interest burden is reduced. From the perspective of lending money, the interest burden decreases. But if there is a bright future in this company later on, through the stock acquisition rights, you can receive new shares and sell them to make a profit. Ideas like this are gathered, which is what a stock acquisition rights offering is about. I introduced the details in the previous video. Let's move on today. So, now let me explain in detail. Industrial Bank offers 250 billion won to Deutsche Motors for a stock acquisition rights offering. Typically, in a stock acquisition rights offering, there are warrants that allow for the purchase of new shares. Some products separate these warrants. Therefore, the entity that can receive the principal remains the same, requesting new shares.

Now you can trade warrants separately. There are products like this. It's called warrant-separated products among the stock acquisition rights. If you look at it this way, for those who have BW stock acquisition rights, they can simply hold it until the end, receive the principal, exercise their stock acquisition rights, and receive the shares. However, for those who don't need the shares, they have the right to ask the company to convert it into shares. If you ask them if they want to buy it, they can sell only that separately. So, the issue this time was that the stock acquisition rights, BW Day warrants, were separated, and the product that can be sold was the stock acquisition rights. Let's summarize up to this point. And now, let's get into it. KEB Hana Bank invests 250 billion in BW. So, they precisely invest 250 billion in Deutsche Motors.

While asking for the BW, I looked at it and as soon as I received it, the next day, just like I mentioned, I can ask for new shares. I will sell around 2.69 million shares to Chairman Ho, who is the chairman of Deutsche Motors. If you bring it like this, what is this? From the beginning, before the issuance, it's already a contract to transfer the BW rights to Chairman Ho. So, actually, it's all laid out in the issuance plan. For example, when will it be issued? It will be issued at 25 billion, and what is the exercise price? And as soon as I receive it, the next day, I will sell the warrants worth about 15 billion to Chairman Ho. This was all planned. So, Kookmin Bank received 750 million, and it's a preliminary fund flow that transferred BW to Chairman Ho. Then, Chairman Ho will give 750 million won to Kookmin Bank and separately purchase warrants that can receive new shares, about 2.69 million.

You have the right to convert Ju into stocks. So, if you ask how much you bought per share, it's 2781. So, with 28 won, you can exchange one share. This is how you should see it. So, let's look at how the quantity will be later. Mr. Kwonho has about 2,569,000 shares. He received 2,690,000 shares from KEB Hana Bank and then transferred all the shares he had to other individuals. It's strange, right? It is strange, indeed. So, among the people who received shares from Mr. Kwonho, one of them is Mrs. Kim Geon-hee. Mrs. Kim Geon-hee buys about 510,000 shares worth 1 billion won from Mr. Kwonho's 2,690,000 shares of warrants. Later, Mrs. Kim Geon-hee sells 430,000 shares out of the 510,000 shares to the third fund.

Mrs. Kim Geon, who bought 100 million shares, makes a profit by selling about 430,000 shares in Fund 3, leaving approximately 550 million won. If you invest 100 million and earn 50 million, the profit rate is tremendous. In any case, you make a profit and exceed it. Then, like Mrs. Kim Geon-hee, there must be many people who receive warrants from Mr. Kwon Hosu. For example, for convenience, let's say A, B, C, D, E, F, and G. Many people receive different amounts like 500,000 shares, 700,000 shares, tens of thousands of shares, and 100,000 shares from Mr. Kwon Hosu's allocation. And Mr. Kwon Hosu's allocation becomes profitable later. I explained the first flow. Mr. Kwon Hosu can buy the right to convert stocks into 2.69 million shares from Industrial Bank for 750 million won. Mrs. Kim Geon-hee buys 100 million shares and sells 530,000 shares to others.

People also sell tens of thousands of shares, tens of thousands of shares, tens of thousands of shares like this, and sell them all. So, Mr. Kwon Hosu ends up not having any warrants. I'll explain up to here for now. Now, the second Industrial Bank gives Mr. Kwon Hosu about 2.69 million shares of warrants, and the remaining warrants, the right to exchange the remaining warrant shares, are transferred to Mr. Kwon Hosu. The remaining warrants are transferred to someone else, to Mr. Ddangddang. Look at it broadly. From Industrial Bank to Mr. Kwon Hosu, about 2.69 million shares are given, and the remaining approximately 2.5 million shares are transferred to Mr. Ddangddang. Then, Industrial Bank now has no more warrants. All that's left for Industrial Bank is just the company's function. Only the principal will be received. Originally, the BW attached here, the new share acquisition rights attached here.

I gave this much to Kwon Hosoo, and I will give more to Lee Seung-geun. So, Kwon Hosoo doesn't have warrants anymore. I will just brush it off my hands. Now, then, how did Lee Seung-geun handle this large amount? Let's take a look here. When Lee Seung-geun receives warrants from Kwon Hosoo, he receives them at 117 per share, which is cheaper than what Kwon Hosoo received at 278 per share. How does this work? Just like when Kwon Hosoo transferred the shares to Kim Geon-hee, he said he bought up shares from many other individuals. The shares bought from those many individuals are then transferred back to Lee Seung-geun. So, in addition to the shares received from Industrial Bank, Lee Seung-geun also combines the shares transferred from Kwon Hosoo and receives them again.

The amount of held warrants keeps increasing. Do you understand? Next, suddenly, here, yes, the 4th fund appears. So, Mr. Kim Geon-hee transferred 430,000 shares out of 510,000 shares to the 4th fund and took them. Lee Seung-geun, who had secured a large amount of warrants, ends up transferring most of the shares to the 4th fund again. Now, who's left? Initially, it was in Kwonho's hands, but it flowed to another individual. There are shares of children that were not transferred to Lee Seung-geun, about 2 million shares left. Let's call it an informal group for convenience. The key point of the Korea Ilbo article is this: Industrial Bank Kwonho Kim Geon-hee Fund, Industrial Bank Kwonho Individual, then Lee Seung-geun, and then the 4th fund.

I made a profit of 6 billion won by converting warrants into stocks and actually selling them. The remaining shares not sold by Ho-dae's children, for example, would amount to 2 million shares. If this had not been disclosed and had been sold in a certain way, it would have made a profit of about 5 billion won. So, when the initial payment of 750 million and 450 million to the Industrial Bank is combined, there are 1.2 billion. By paying 1.2 billion, an enormous price difference was created as the warrants eventually became worth 11 billion won. This is the essence of an article in the Korean newspaper. It's very difficult, but I'll explain it like this for now. Once again, I will explain while looking at the picture. As you can see, it goes from the Industrial Bank to KB, then to Kim Mo, surpassing Kim Ho-soo and Kim Gun-hee. So, it goes from Kim Gun-hee to Taiko's private equity fund. The private equity fund converts warrants into stocks and sells them on the market.

I made 6 billion won by selling it, and then there is something written as Kwonho Guitar, right? Many individuals come out like this, and individuals cushion it back down again. The quantity from Industrial Bank received by Lee Seung-geun is then sold through a private equity fund, and the remaining shares of the children pile up under Davi Group. Therefore, the profit received by the private equity fund is 6 billion, and the estimated profit received by the undisclosed Davi Group is about 5 billion. That's how it is estimated. Yes, the table is very complicated, but for now, I will just explain the flow like this. Now, what is the problem? The first is that I will list only the strange points and issues in all transaction relationships from now on. I'm not saying there was stock manipulation, but as I listen, it seems strange, at least to share with you.

First, let me talk about the issues related to the Industrial Bank. Firstly, the Industrial Bank is a state-owned bank. It needs to spend money for industrial development and attracting corporate facilities. However, why did it have to invest in a company that operates a BMW dealership, claiming that they urgently needed significant industrial funds? This does not align with the original purpose of the Industrial Bank, so it should receive some criticism. Secondly, the first investment made by the Industrial Bank was in BW. Until receiving the principal, the bank should have held the bonds as they were, along with the warrants, which are rights to stock. Why did the bank have to separate and sell these warrants?

It was beneficial for the Industrial Bank, or was it a special favor to Kwon Hosoo? Isn't it that the Industrial Bank suffered losses? This part remains. I will go into this a little more. I have been mentioning this part since earlier, but from the beginning, it was set to give Kwon Hosoo around 2.69 million shares. Let's say we concede a hundred times; even if that's the case, it was set up that way from the beginning. Now, the remaining shares that were given to Lee Seungkeun after giving the items to Kwon Hosoo, it was not part of the initial setup. The initial setup was to invest 25 billion and separate the warrants, then give 2.69 million shares to Kwon Hosoo. Up to this point, it was all set up. However, regarding the remaining shares, the Industrial Bank was like, Well, we'll keep them.

If we have it, later on, we can exercise the option to convert it into shares and make some profit with Alto. We may also decide to transfer this amount to Mr. Kwon right after receiving it. If we don't want to hold onto it, we could find a buyer in the market without holding onto it. We need to make decisions even when holding onto it, and when selling, we need to consider the timing and selling conditions. Since it was not set up from the beginning, why did Lee Seung-geun quietly sell the remaining shares after a few months? This part is a bit mysterious because in a different case of stock manipulation at Deutsche Motors, the prosecutor stated that Lee Seung-geun and the chairman of Deutsche Motors, Kwon Ho-soo, are in an economic community.

This is a story. In fact, Industrial Bank gave most of the shares to Mr. Kwon and later gave the remaining shares to Mr. Lee Seung-geun. In a way, it could be seen as giving everything to Mr. Kwon's economic community. So, although it may be considered that they initially set up and gave the first portion of the shares, there might be something strange about the part where they gave the remaining shares to Mr. Lee Seung-geun without a reasonable judgment and basis. Next, we need to look into whether Industrial Bank received the proper value from Mr. Kwon or Seung-geun for the BW shares they transferred. There is a theoretical price, which is the warrant price that should be received. The theoretical price is 106 won. According to an analysis by the Korea Economic Daily, Mr. Kwon received this at around 270 won, and Mr. Lee Seung-geun received it.

I'll take this at 117. I'll take it for a significantly lower price than the theoretical price. By doing this, I wonder if it was really a good bargain. Considering the stock price at that time, it was a reasonable price to some extent. But there are some strange points that I'll summarize for you. Now, let's move on to the second chapter. I will uncover any odd parts in the relationship between Kim Geon-hee and Kwon Ho-soo. Firstly, Kwon Ho-soo initially paid 750 million to the Industrial Bank and received warrants. This is crucial. He borrowed 500 million from Kim Geon-hee, with his own money being 250 million. It is said that Kim Geon-hee borrowed 500 million. There are various interpretations here. It could be a problem if Kwon Ho-soo really had no money. It could also be a problem how someone with no money set up such a deal.

If we say there is no money, but people like me don't interpret it that way. There's no way I have no money. A chairman of a large corporation is trading a 25 billion warrant, asking for 500 million. Saying, Do you need to borrow money? doesn't make sense. So, it raises suspicions that maybe he didn't really borrow money. This is the first relationship. Did Kwon Hosoo really lend 500 million to Geum Geonwoo? Now, the second issue. Initially, the Industrial Bank issued BW and transferred the quantity to Kwon Hosoo within a day. It was announced from the beginning that it was all set up. When it was first announced, the capital plan was also disclosed together. Regarding the outline of acquisition funds, it was disclosed as follows: 750 million, all from personal funds. In other words, Kwon Hosoo declared that it was all his own money, not borrowed funds.

I mean, the statement that I gave 500 million won to Mr. Kim Geon-hee doesn't match the initial disclosure documents. In reality, the question of whether I actually gave 500 million won is strange. What is the substantial relationship with what I first mentioned earlier? Secondly, the moment I say I gave it, it conflicts with the existing financial plan stated in the disclosure document, which is the second problem. It's about false disclosure or incorrect statements. Now, thirdly, I'm talking about the relationship between Kim Geon-hee and Kwon Ho-soo. The strange thing is, thirdly, Mr. Kim Geon-hee brought 510,000 warrants and sold 430,000 warrants to a private equity fund. And he said he made several billion won. So, if that's the case, there are remaining warrants, about 77,000 shares. What did he do with this? How did he handle this, these warrants, without transferring them to the private equity fund and holding onto the remaining 77,000 warrants like this?

When asked how did this happen, it becomes a point of contention in the presidential election. During the election, how did Yoon Seong-yeol's presidential campaign explain it? Mr. Kim Gun-hee stated that he has never converted warrants into stocks and has sold them all. He explained that he has properly reported capital gains taxes, etc., and there are no issues. However, something strange happens. The number of shares he holds is almost the same as the 77,000 shares he mentioned before. A few months later, he was listed as a shareholder, even as a major shareholder, with 77,000 shares. So, the question arises, where did Mr. Kim Gun-hee get the 77,000 shares from? According to the explanation from the presidential campaign earlier, if he had indeed sold them all, let's assume that is correct. Then did he sell them and buy 77,000 shares elsewhere, or is there a discrepancy in the explanation during the election, and he actually...

The statement about converting the warrants held into 77,000 shares later is ambiguous. It could lead to suspicions of false explanations, maybe even during the presidential election. I briefly introduced some strange points in the transactions of Kwon Ho-soo and Kim Geon-hee. Now, let's move on to the next topic. How much did someone earn? I will briefly explain that part. Do you remember what I introduced earlier with difficulty? It started from Kwon Ho-soo, passed through many individuals, like Kim Geon-hee, who transferred to the 3rd fund. Also, it came from Industrial Bank to Lee Seung-geun. The individual who received the quantity from Kwon Ho-soo passed it on to Lee Seung-geun, who then sold most of the quantity through a private fund. However, the remaining individuals and Lee Seung-geun's children, etc., did not sell the quantity.

The land, yes, it is expected that something has been sold in the market on a personal basis. Based on the revealed information, let's try to estimate how much someone earned. We estimated based on an article from the Korea Ilbo. How much do you think Mr. Lee Seung-geun earned? If we think about it, Mr. Lee Seung-geun buys warrants. He buys them from Industrial Bank, and he said he will buy them again from individuals like Kwon Ho-soo. In this way, he secures a total of about 493 warrants. At that time, there must have been a purchase price. Then, among them, he sells warrants to a fund. When he sells them, there will be income. Also, there must be remaining warrants that were not sold, right? There will be those remaining warrants, and when you calculate these things comprehensively, Mr. Lee Seung-geun...

In the process of giving and receiving warrants, when calculated conservatively, it is estimated that there might have been a profit of around 750 million. Sa-ho Fund received shares from Mr. Kim Geon-hee and Mr. Lee Seung-geun, accumulating shares along the way. At the time of receiving the shares, there was an acquisition cost when receiving warrants, and when actually converting them into stocks in the market, additional money needed to be paid for exercising the price. By calculating the remaining profit after converting them into stocks and selling them back to the market, according to reports by the Korea Ilbo, an estimated profit of around 6 billion is expected. However, considering conservatively, there is a possibility of it being 5 billion, so I estimate that the profit is between 5 billion and 6 billion. Now, as for how much Mr. Kim Geon earned, as I mentioned earlier.

If you believe in what the notification says, if you believe in the notification and ancient times, you would have given 100 million to Mr. Kwon Hosu, bought items, sold them to a 300 million fund, and earned about 50 million or around 55 million. There are still other children's quantities related to that, so if we speculate on how they would have earned in some way, at least it is estimated that they would have earned at least 70 to 80 million or even more. This is what we have discussed so far. The important missing person is Mr. Kwon Hosu. Everyone, feel free to imagine here. He planned this entire project and he is the chairman. How much do you think Hosu earned? Let's think about it. For example, the warrants held in the name of Kim Geon-hee, did Kim Geon-hee really own the warrants he traded with? Or maybe, just in case, huh.

Was it possible that Kwon Hosu received an account similar to Eo Chamyeong and traded alone? Also, although Kwon Hosu distributed numerous warrants to individuals, ultimately, it all went into private funds, right? Yes, were all those individuals trading individually or was it a transaction related to Kwon Hosu and Oh Jeong? Additionally, is Lee Seunggeun really in an economic community with Kwon Hosu, to the extent that the prosecutor mentioned? Are all of Lee Seunggeun's transactions solely his, or are they related to Oh Jeong? Is all the income independent until Kwon Hosu-related income? Furthermore, is the income disclosed through the transaction volume corresponding to approximately 2 million shares each individual's income, or is it income related to Kwon Hosu and Mo Jo? What do you think about these matters?

Please take a moment to think. There are many strange points. Up to this point, it's a simple explanation through a small flow. Now, why did the Korea Times mention stock price manipulation? That's right. The point is, in the case of a new share issuance where you can ask to exchange your existing shares, for example, I'll give you 1,000 won, so exchange one share. I'll give you 2,000 won, so exchange one share. The exercise price is already written. However, if I tried to exchange one share for 1,000 won, but the company's stock price has dropped to 500 won, then the person who received one share for 1,000 won becomes a fool. So, if the stock price goes down, they say they adjust the exercise price. This is called re-fixing. Let's say there is someone who can artificially lower the stock price. Then, after issuing a bunch of BWs, they bring all the warrants together and when the stock price drops, they lower the price and manipulate the exercise price during the downturn, which is called re-fixing.

When they say, Let's give, they increase the number of shares significantly to secure more shares. Then, when they raise the price again, the person who had one share becomes the one who has two shares. So, when it goes up again, if you sell it, you can make two or three times the profit compared to the originally held shares. This is the fundamental issue raised by a Hankyoreh article. In other words, the traditional method of stock manipulation, not just the usual trading at market closing at 12 o'clock, buying and selling, placing false orders, and manipulating the closing price, but a method where I can lower the stock price of a company and raise it through certain means. It is speculated that they might have used methods like issuing BW and lowering the stock price, increasing the number of shares through re-issuing, and then raising the price again to make several times more profit.

It is the point of suspicion in the article. Yes, that's right. So today, I will re-explain the analysis that was a bit lacking in accuracy on the Hong Sa-won show. Now, for a moment, let's take a break and watch an advertisement. A trustworthy insurance specialist who can objectively check your insurance status and provide a fair assessment and reasonable alternatives is introduced through My Insurance Check. My Insurance Check considers the benefits of insurance policyholders as the top priority. By checking if the existing insurance is suitable, it helps to maintain essential insurance contracts and provides tailored coverage analysis based on the customer's current situation. It recommends the best insurance products with broad coverage at affordable premiums. My Insurance Check deals with and sells insurance products from 35 property and casualty insurance and life insurance companies.

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Turn on the key. Hello, subscribers. Today is Friday afternoon. I hope you all have a relaxing time. I'm not here to give you a headache with difficult topics. If you're confused, please watch the video I posted before. I'll bring it up here. Also, take a look at the Hongsha incident that happened on Wednesday. Tie it all together until today's broadcast. Read the article from the Korean newspaper once more in its original form. I hope this helps you understand the situation better. Once again, I want to clarify that I did not manipulate the stock prices. It was in the Dankook Ilbo. They mentioned it. First, let me clear that up. Yes, everyone, enjoy the rest of your Friday. Have a great weekend, and I'll be back next Monday at 1 p.m. with Economic Spoon. So, let's move on.

Please take a look at the store and consider shopping, as shopping is support, you know. Thank you.

(경제한스푼) 올림픽 '김예지' '셀린디온' 미친듯이 봤다 / 도이치모터스 신종 주가조작 의혹 '대.해.부' #올림픽#도이치모터스#김건희

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