upx -o notepad_upx.exe notepad.exe 이렇게 하면 안 열림 This has to do with resource compression; the "MUI" resource somehow does not get uncompressed correctly which causes LoadStringW to fail, regardless of .mui files being present or not. This in turn causes notepad to bail (nice error handling...). If you compress with upx --compress-resources=0 you'll see that it works. upx --compress-resources=0 -o..