Samsung Soars, Broadcom Buzz, Foundry Repricing

● Sell-High, Cut-Loss, Stay-Alive

The Real Selling Rule Emphasized by a Super Investor: A Growth-Stock Strategy of Extending Gains and Cutting Losses Short

The core issue in this article is not simply “when to sell.”

It summarizes the most difficult selling rules in stock investing, the criteria for holding growth stocks over the long term, stop-loss discipline, perspectives on semiconductor stocks such as Samsung Electronics and SK Hynix, and the effects of exchange rates, foreign selling, fear, and greed on the market.

A key point often overlooked by many investors is not whether they bought a good stock, but whether they built a structure that allows them to hold it long enough.

Without this perspective, it is difficult to capture gains fully even in AI investing, semiconductor rallies, and growth-stock cycles.

1. Key Message: The Super Investor’s Selling Rule Is About Survival Structure, Not Maximizing Short-Term Profits

The central message emphasized by Lee Jeong-yun, a tax specialist, is clear.

Profits should be allowed to run, while losses should be cut quickly.

This is simple in theory, but many investors behave in the opposite way.

They sell too early when prices rise slightly, yet hold on too long when losses deepen in the hope of a rebound.

Repeated behavior of this kind produces a portfolio structure of small gains and large losses.

Good selling: Selling when the original investment thesis deteriorates.
Bad selling: Selling in response to short-term volatility.
Good stop-loss: Recognizing quickly when the pre-set rule is broken.
Bad stop-loss: Panic selling near the bottom.

In the end, a selling rule is not only a return-enhancing technique, but also a risk-management system for long-term market survival.

2. The Real Meaning of “Let Winners Run”: It Does Not Mean Holding Every Rising Stock Indefinitely

Many investors interpret “extend gains” as simply holding for the long term.

However, the key issue is not duration, but whether the growth thesis remains intact.

Even if a growth stock appears expensive, its valuation can expand further if earnings, industry trends, market share, and technological competitiveness continue to improve.

For example, AI semiconductors, HBM, data centers, and cloud infrastructure reflect future demand expectations more strongly than near-term earnings.

Semiconductor stocks such as Samsung Electronics and SK Hynix should be evaluated not only on past results, but also on the memory cycle, AI server investment, global supply chains, and exchange-rate effects.

Conditions for continuing to hold: Are earnings estimates being revised upward?
Conditions for continuing to hold: Has the industry growth thesis remained intact?
Conditions for continuing to hold: Is foreign investor flow a temporary outflow or a structural one?
Conditions for continuing to hold: Is the share-price correction company-specific or a broader market correction?

In other words, extending gains requires evidence, not belief.

The reason to hold is not that the stock has risen, but that the company’s value continues to expand after the move.

3. The Core of “Cut Losses Short”: Stop-Loss Discipline Must Be Predefined, Not Emotional

Stop-loss discipline is one of the most difficult areas for individual investors.

Selling at a loss requires admitting that the initial thesis was wrong.

However, in stock investing, the greater risk is not the loss itself, but the inability to manage it.

This is especially relevant in growth-stock investing, where volatility is high.

When interest rates rise, exchange rates move sharply, foreign investors sell, and earnings slow, share prices can fall sharply in a short time.

Without a predefined stop-loss rule, investors are pulled along by price action.

Price-based stop-loss: Reduce or sell when the stock falls by a predefined percentage from the purchase price.
Thesis-based stop-loss: Sell when the core growth thesis is broken.
Earnings-based stop-loss: Reassess when revenue, profit, orders, or margin trends weaken.
Flow-based stop-loss: Be cautious when foreign and institutional selling becomes structural rather than temporary.

The key is not the exact stop-loss percentage.

The key is to define a manageable loss range in advance and apply it consistently.

4. In Concentrated Growth-Stock Investing, Volatility Management Matters More Than Stock Selection

Concentrated growth-stock investing can generate large gains, but it also carries substantial volatility.

A heavy bet on a single stock requires both deeper analysis and stronger risk control.

The important point in a super investor’s strategy is not simply “buy growth stocks.”

It is to first build a structure that can withstand the volatility of growth stocks.

First, scale in gradually: Do not buy all at once; use price fluctuations strategically.
Second, control position size: Do not take oversized exposure when conviction is limited.
Third, hold cash: Cash is needed to exploit opportunities during corrections.
Fourth, define a selling plan: Set exit criteria before entering the position.

Even strong growth stocks can move 20~30% in either direction.

If an investor cannot withstand this volatility, even a good position may be abandoned prematurely.

That is why psychological discipline and capital management are as important as stock analysis in growth investing.

5. Samsung Electronics and SK Hynix Should Not Be Viewed Through the Same Lens

Semiconductors are one of the most important sectors in the Korean equity market.

However, treating Samsung Electronics and SK Hynix simply as the same type of semiconductor stock can obscure key differences.

Samsung Electronics has a broad business portfolio, including memory, foundry, smartphones, and home appliances.

As a result, it must be evaluated not only through the semiconductor cycle, but also through mobile demand, foundry competitiveness, and global consumption trends.

SK Hynix has a more distinct profile centered on memory and HBM.

Its valuation can be strongly influenced by AI server investment and HBM demand.

On the other hand, if AI spending slows or competition intensifies, volatility may increase significantly.

Samsung Electronics checklist: Memory prices, foundry competitiveness, mobile demand, shareholder return policy.
SK Hynix checklist: HBM share, AI server demand, customer diversification, margin improvement.
Common checklist: Exchange rates, foreign investor flows, global interest rates, semiconductor cycle.

Investing in semiconductors requires understanding the industry cycle rather than relying on short-term chart movements.

In particular, it is necessary to verify whether AI investment growth is translating into actual earnings improvement.

6. Foreign Selling and Exchange Rates Are Not Merely News Items; They Are Core Variables in Selling Decisions

Foreign investor flows are highly important in the Korean market.

When foreign investors sell large-cap stocks aggressively, the entire index can weaken.

This is especially relevant for large semiconductor names such as Samsung Electronics and SK Hynix, where foreign ownership is high.

Exchange rates are also a key variable.

When the KRW/USD rate rises sharply, foreign investors may face greater currency-loss pressure.

In such cases, even if corporate earnings remain stable, share prices can decline as foreign capital exits.

Rising exchange rate: Generally supportive for exporters, but potentially negative for foreign inflows.
Falling exchange rate: Potentially positive for foreign inflows, but may reduce translated earnings for exporters.
Foreign selling: Distinguish between short-term profit taking and a structural asset-allocation shift.
Interest-rate changes: Directly affect growth-stock valuations.

Accordingly, selling decisions should not be based only on company-specific news.

Macroeconomic outlook, interest-rate direction, exchange-rate trends, and foreign flows should all be considered.

7. Fear and Greed: The Main Reason Individual Investors Fail at Selling

Losses in the market are not caused only by a lack of information.

In many cases, investors fail because they cannot control emotions despite abundant information.

When prices rise, greed increases.

Investors hold without a target price, expecting further gains.

When a correction follows, fear increases.

As a result, they fail to sell near the top and end up selling after the decline begins.

Conversely, when a stock rises modestly, investors often feel pressure to lock in profits immediately.

This causes them to miss the main trend.

The result is a portfolio that captures only small gains while missing the major upside phase.

Greed: Holding too long without a target and giving back gains.
Fear: Selling aggressively on corrections unrelated to fundamentals.
Regret: Fixating on past trades and allowing that to affect future decisions.
Confirmation bias: Seeking only information that supports existing positions.

For this reason, a selling rule is also a psychological tool.

A good investor is not one who predicts perfectly, but one who responds quickly when wrong and stays invested when right.

8. Five Selling Criteria to Define Before Buying

Many investors spend time analyzing entries, but make exit decisions impulsively.

The truly important step is to define selling criteria before buying.

1. Target return: Determine at what level to take partial profits.
2. Maximum loss: Define the loss level that can be tolerated.
3. Investment horizon: Distinguish between short-term trading and medium- to long-term growth investing.
4. Core investment thesis: Record whether the decision was based on earnings, industry growth, technology, or flows.
5. Re-entry condition: Define the criteria for buying again after selling.

Without these criteria, both decision-making and discipline will be affected whenever the stock price fluctuates.

With them, losses can be contained and gains can be allowed to run in a structured way.

9. The Most Important Point Often Missed in Other Commentary

The most important point is that selling skill comes from portfolio design, not prediction accuracy.

Much commentary focuses on which stock will rise and how far it can go.

However, actual performance is driven more by position sizing, stop-loss discipline, cash management, and partial-profit-taking than by stock selection alone.

For example, two investors may buy the same stock, but one may make a profit while the other incurs a loss.

The difference lies not in the stock, but in the response framework.

If the position size is too large: even a small move can undermine discipline.
If there is no cash: investors cannot add during constructive corrections.
If there is no stop-loss rule: losses begin to dominate decision-making.
If there is no partial-sale framework: it becomes difficult to maximize gains.

In other words, a selling rule is not merely a technique for exiting positions.

It is the structure of the investment system itself.

10. Why This Rule Becomes Even More Important in the Second Half of 2026

In the second half of 2026, key variables will still include interest rates, exchange rates, AI investment, the semiconductor cycle, and global liquidity.

If AI infrastructure spending and semiconductor demand continue, growth stocks may find opportunities.

However, if interest-rate volatility increases or exchange rates rise sharply, growth-stock valuations may come under pressure again.

In such a market, selecting good companies is not enough.

Even high-quality companies can generate weak returns if bought too expensively, and they can still swing sharply during market stress.

AI investment expansion: Could support semiconductors, data centers, and power infrastructure names.
Interest-rate uncertainty: Could increase valuation volatility in growth stocks.
Exchange-rate volatility: Could affect both foreign flows and exporter earnings.
Foreign selling: Could create short-term pressure on large-cap stocks.
Retail investor sentiment: Fear and greed may continue to distort selling decisions.

Accordingly, in the second half of 2026, “how to sell” will be as important as “what to buy.”

11. Practical Application for Individual Investors

First, write down the reason for buying in one sentence.

For example: “I bought because AI server investment is expected to increase HBM demand.”

Second, sell when that reason is no longer valid.

The decision should be based not on price decline alone, but on whether the investment thesis has deteriorated.

Third, in profitable positions, partial selling can be combined with holding a portion.

Full liquidation is not the only answer.

Partial profit-taking can provide both psychological stability and continued participation in further upside.

Fourth, in losing positions, check the thesis before averaging down.

Determine whether the stock has fallen because of market conditions despite improving fundamentals, or because the growth thesis has deteriorated.

Fifth, keep a trade record.

Record why you bought, why you sold, and what the outcome was. That is how investment skill compounds.

< Summary >

The real selling rule emphasized by a super investor is: let profits run and cut losses quickly.

To let profits run, investors must confirm that the growth thesis and earnings momentum remain intact.

To cut losses quickly, investors must define a stop-loss framework and investment thesis before buying.

Semiconductor stocks such as Samsung Electronics and SK Hynix should be assessed in light of AI investment, exchange rates, foreign flows, and interest-rate trends.

For individual investors, the key is not only stock selection, but also position sizing, cash management, partial selling, and stop-loss discipline.

In the second half of 2026, macro outlook and the semiconductor cycle will remain important, but final performance will depend on how well selling rules are applied.

[Related Articles…]

*Source: [ 경제 읽어주는 남자(김광석TV) ]

– [풀버전] 슈퍼개미가 말하는 진짜 매도 원칙 이익은 길게, 손실은 짧게 | 경읽남과 토론합시다 | 이정윤 세무사

● Samsung-Soars-Broadcom-300T-Collab-Foundry-Repricing

The Real Drivers Behind Samsung Electronics’ Surge: Broadcom Cooperation Speculation, Foundry Orders, and Semiconductor Valuation Re-rating

The key issue is not simply that Samsung Electronics’ share price rose.

Based on the points raised in the video, the market is beginning to revalue Samsung Electronics not merely as a memory semiconductor company, but as a comprehensive semiconductor platform spanning AI chips, foundry, HBM, and system semiconductors.

In particular, investors are focusing on the possibility of large-scale cooperation with Broadcom, a potential mega foundry order for Samsung Electronics, the competitive dynamic with TSMC, the post-listing surge in CXMT, and the low PER valuations of Samsung Electronics and SK hynix.

Although the surface narrative is one of KOSPI volatility and decline, the underlying trend is a rapid reallocation of global semiconductor capital.

This report summarizes the background to Samsung Electronics’ share price strength, the timing of a meaningful correction from an investment perspective, and the main risks the market may be underestimating.

1. The Core Backdrop: The Market Is Looking Beyond a Simple Memory Recovery

The recent strength in Samsung Electronics’ share price reflects more than a basic value rebound.

The market is pricing not only a potential earnings recovery, but also increased AI server investment and the possibility of foundry orders.

As AI semiconductor demand has surged around Nvidia, the ecosystem around GPUs, including HBM, ASICs, network semiconductors, and advanced packaging, is also being re-rated.

Samsung Electronics had been viewed as lagging SK hynix in HBM, but the market is now shifting toward the view that Samsung cannot be excluded from the AI supply chain.

This is the most important change driving the stock.

First, Samsung Electronics’ role in the AI semiconductor supply chain is being re-emphasized.
Second, expectations are rising around the possibility of large foundry orders.
Third, Samsung Electronics and SK hynix are being viewed as undervalued relative to Chinese semiconductor firms.
Fourth, despite KOSPI weakness, large semiconductor stocks remain a core focus for global capital.

2. Broadcom’s 300 Trillion Won Cooperation Speculation: Why the Market Reacted

The video mentioned a potential semiconductor cooperation agreement between Broadcom and Samsung Electronics worth roughly KRW 300 trillion.

Such a large-scale cooperation or order-related issue must be assessed against official disclosures, contract duration, and revenue recognition structure.

For investors, the strategic importance of Broadcom matters more than the headline number itself.

Broadcom is not simply a communications chip company.

It is a key player in AI data centers, network semiconductors, custom AI chips, and ASIC design.

Accordingly, a possible partnership with Broadcom signals that Samsung Electronics could re-enter the AI semiconductor supply chain as a core partner.

Broadcom is a direct beneficiary of AI infrastructure expansion.
Samsung Electronics is one of the few companies able to offer memory, foundry, and packaging together.
If cooperation translates into meaningful revenue, it could materially improve confidence in Samsung’s foundry business.
This could be interpreted as partially challenging TSMC’s dominant position.

Ultimately, the market reaction is driven less by near-term profit potential and more by the possibility that Samsung Electronics is re-entering the AI semiconductor ecosystem.

3. The Foundry Order Theme: Why TSMC Must Take Notice

Samsung Electronics’ foundry business has long been compared with TSMC and generally valued at a discount.

This reflected TSMC’s overwhelming lead in technology, yield, customer trust, and ecosystem depth.

However, the rapid expansion of the AI semiconductor market is beginning to change the dynamics.

Nvidia, AMD, Broadcom, Apple, Google, and Amazon increasingly seek to avoid relying on a single foundry for all volume.

With AI chip demand surging, TSMC’s capacity is already tight.

If Samsung Electronics secures adequate technology and yield performance, customers may use it as a secondary supply chain.

Customer demand to reduce TSMC concentration risk is increasing.
AI demand is tightening leading-edge capacity.
Samsung Electronics has the added advantage of offering both memory and foundry capabilities.
Its value is also rising in advanced packaging.

For that reason, foundry orders should be viewed not as a short-term catalyst, but as part of a broader restructuring of the global semiconductor supply chain.

4. KOSPI Decline and Samsung Electronics’ Rise: Why the Timing Looked Unfavorable

The video also suggested that a KOSPI decline of more than 10% is difficult to classify as a routine correction.

Typically, such a drop requires strong catalysts such as recession risk, financial stress, geopolitical shocks, interest rate pressure, or heavy foreign selling.

Yet semiconductor fundamentals are still supported by the AI investment cycle over the medium to long term.

In that context, a sharp rise in Samsung Electronics during a broader market decline naturally creates frustration over timing.

When the KOSPI weakens while re-rating occurs in a major semiconductor leader, investors find it difficult to determine entry points.

Broad indices can remain weak while leading semiconductor stocks strengthen.
Foreign capital may concentrate more on Samsung Electronics and SK hynix than on the broader market.
Rate-cut expectations combined with the AI cycle can increase the attractiveness of semiconductors.
That said, short-term profit-taking often follows a sharp move.

The key issue is not the index decline itself, but where capital is rotating during the correction.

At present, the strongest global theme remains AI infrastructure and semiconductors.

5. CXMT’s 500% Surge After Listing: A Signal of Undervaluation in Korean Semiconductors?

One of the more striking points in the video was the case of Chinese memory chipmaker CXMT.

CXMT reportedly surged around 500% after listing, with a forward PER of approximately 33x on the first day of trading.

By comparison, Samsung Electronics and SK hynix were said to be trading at much lower PER levels.

This comparison sends a strong message to the market.

It suggests that Korean semiconductor leaders, despite stronger technology and profitability, are receiving compressed valuations, while Chinese semiconductor firms are being awarded substantial growth premiums.

CXMT benefits from China’s semiconductor self-sufficiency policy.
Government support and domestic demand expectations have lifted its valuation.
However, its technology remains behind Samsung Electronics and SK hynix.
Even so, the market is assigning a much higher growth premium to Chinese names.

That raises the key question for investors:

Is there a valid reason for Samsung Electronics and SK hynix to trade at such low valuations?

This question is at the center of the recent re-rating of Korean semiconductor equities.

6. The PER Debate Around Samsung Electronics and SK hynix: Earnings Direction Matters More Than the Multiple

A low PER should not be interpreted only as a sign that a stock is cheap.

Semiconductor companies are cyclical, which means earnings can fall sharply at the bottom of the cycle and surge at the peak.

For semiconductor investing, the direction of future earnings matters more than current earnings.

If Samsung Electronics and SK hynix are trading at low PERs, the market may still be underpricing future profitability.

Conversely, if AI expectations are already overly reflected in valuations, short-term corrections remain possible.

For Samsung Electronics, the key issue is HBM competitiveness recovery.
For SK hynix, the issue is how long it can maintain HBM leadership.
The pace of memory price recovery must also be monitored.
Whether foundry orders translate into actual revenue and earnings is critical.

In the end, the important question is not whether the PER is 3x, 5x, or 10x, but how much earnings can rise next year and the year after.

7. The Real Correction Is Elsewhere: Three Signals Investors Should Watch

The phrase “the real correction is elsewhere” should not be read as a call to sell immediately or buy indiscriminately.

In semiconductors, the real correction is not a small price pullback, but a turn in earnings expectations and demand outlook.

The first correction signal is a slowdown in AI investment.

If major tech companies reduce data center spending plans, the demand outlook for AI semiconductors could weaken.

The second signal is a slowdown in memory price increases.

If DRAM and NAND price gains stall, earnings expectations for Samsung Electronics and SK hynix could weaken.

The third signal is a failure to convert foundry expectations into actual orders.

If market expectations are already priced in but actual contract size or profitability falls short, profit-taking could intensify.

Monitor AI capex trends.
Monitor HBM supply competition.
Track whether the memory price upcycle remains intact.
Watch whether foreign flows continue into Samsung Electronics and SK hynix.

8. The Nvidia Link: The AI Semiconductor Cycle Has Not Ended

Nvidia remains at the center of the AI semiconductor market.

However, Nvidia cannot build the entire stack alone.

Its GPUs require HBM, packaging, foundry services, substrates, power semiconductors, and networking equipment.

This is why Samsung Electronics is drawing renewed attention.

Samsung has a broad portfolio spanning memory semiconductors, foundry, image sensors, packaging, and system semiconductors.

The key issue is therefore not whether Nvidia is a direct customer, but what role Samsung Electronics plays across the broader AI semiconductor ecosystem.

AI server growth increases HBM demand.
Higher-performance AI chips increase demand for leading-edge foundry services.
Data center expansion increases demand for SSDs and high-capacity memory.
Growth in custom AI chips raises the importance of ASIC leaders such as Broadcom.

As long as these trends continue, semiconductor investing should be viewed not merely as a cyclical trade, but as an investment in AI infrastructure expansion.

9. The Most Important Point Often Missed in Mainstream Coverage

The most important issue is not a single company-specific catalyst, but a structural change in how global capital values semiconductors.

Many reports focus on isolated themes such as “Samsung Electronics surges,” “Broadcom cooperation,” or “foundry orders.”

In reality, the larger shift is in the valuation framework itself.

In the past, Samsung Electronics was assessed mainly as a memory-cycle company.

Investors bought on memory price strength and sold on weakness.

In the AI era, however, memory has become a core infrastructure input rather than a simple component.

HBM has become as important a bottleneck as GPUs, and foundry capacity now influences major AI strategies among large technology companies.

Samsung Electronics can no longer be valued solely on DRAM pricing.

Samsung Electronics may be re-rated from a memory company to an AI infrastructure company.
SK hynix may command a premium through its HBM leadership.
Even if TSMC remains dominant, customers continue to seek supply chain diversification.
High valuations in Chinese semiconductor names are reinforcing the case for Korean undervaluation.
If AI demand does not slow, the re-rating of Korean large-cap semiconductor stocks could continue.

This structural shift is more important than the headline news flow.

The market is beginning to price Samsung Electronics not just on earnings recovery, but on a potential rise in its industrial position.

10. Investor Checklist: What to Monitor Now

A sharp rise in Samsung Electronics does not justify indiscriminate chasing.

At the same time, avoiding all semiconductor exposure because of a short-term surge may mean missing the opportunity.

The key is to distinguish expectations from actual results.

Confirm whether the Broadcom cooperation story leads to formal contracts and revenue.
Monitor Samsung Electronics’ foundry yield and customer acquisition progress.
Track whether HBM qualification and supply expansion are progressing.
Check whether memory prices continue to rise.
Watch whether foreign capital continues to flow into major semiconductor stocks.
Monitor whether Nvidia and major tech firms maintain their AI data center investment plans.
Assess how high valuations in Chinese semiconductor firms affect global sentiment.

When evaluating Samsung Electronics, earnings consensus revisions are more important than short-term chart movements.

Investors should monitor whether analysts continue to raise operating profit forecasts, or whether expectations are rising faster than the numbers themselves.

11. Forward Scenarios: Possible Paths for Samsung Electronics and the Semiconductor Market

In a positive scenario, Samsung Electronics would re-enter the AI semiconductor supply chain more meaningfully.

If HBM competitiveness improves, major foundry orders materialize, and memory price strength feeds through to earnings, Samsung Electronics could face additional re-rating.

In a neutral scenario, expectations remain strong but the stock enters a time correction.

If order visibility remains limited and confirmation takes time, Samsung Electronics could move sideways after its sharp rise.

In a negative scenario, AI investment slows and order expectations disappoint.

If Broadcom-related expectations are not confirmed in actual numbers, or if HBM recovery is delayed, short-term downside could deepen.

Bullish conditions: HBM recovery, foundry orders, memory price strength, foreign buying
Neutral conditions: strong expectations but delayed earnings confirmation
Bearish conditions: AI slowdown, order disappointment, memory weakness

12. Conclusion: Samsung Electronics’ Surge Should Be Viewed as a Re-rating of Its Strategic Position, Not a One-Off Catalyst

Samsung Electronics’ recent share price strength is difficult to explain as a simple bounce.

The market is increasingly pricing in the possibility that Samsung Electronics could re-emerge as a core player in the AI semiconductor era.

Broadcom cooperation speculation, possible foundry orders, supply chain diversification away from TSMC concentration, CXMT’s elevated valuation, and the undervaluation argument for Korean semiconductors are all working together.

However, none of these expectations has yet been fully validated by actual earnings.

As a result, both extreme optimism and outright pessimism are premature.

When assessing Samsung Electronics and SK hynix, investors should focus less on the recent share price move and more on AI semiconductor demand, supply chain changes, and earnings forecast revisions.

Semiconductor investing is ultimately about buying the process through which expectations become earnings.

What Samsung Electronics needs now is not another headline, but evidence that market expectations can be supported by revenue, orders, and execution.

< Summary >

Samsung Electronics’ share price strength reflects expectations of re-entry into the AI semiconductor supply chain, not just a cyclical rebound.

Potential cooperation with Broadcom is being viewed as an important signal for Samsung Electronics’ foundry business and broader AI semiconductor positioning.

While TSMC remains dominant, customers continue to seek supply chain diversification, which increases Samsung Electronics’ strategic value.

CXMT’s elevated valuation is reinforcing the view that Korean semiconductor leaders may be undervalued.

However, additional upside will depend on confirmation of contracts, order size, HBM competitiveness recovery, and sustained memory price strength.

The real correction is more likely to emerge from weaker AI investment, softer memory prices, or disappointment in foundry orders than from ordinary share price volatility.

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*Source: [ 달란트투자 ]

– “언론은 쉬쉬하고 있다” 삼성전자 폭등한 진짜 이유 곧 무시무시한 일 벌어진다 | 이형수 대표 2부

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