영화제작투자.PDF

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6 A2 3 LIBOR. RUT FL DSCR (financial and operating cov enant s ). (Capex ) 125. RUT FL 1, 126 (portfolio properties ).,, (occupancy ), (, ), DSCR.. 12) IV. 1.. (box office) DVD, T V,,.,. 13) ( Bowie Bonds ) 55 11) I bid, p.3. 12) RUT FL. Jeeves T akes Charge, Cat s, Song & Dance, On Your T oes, Cafe Puccini, T he Phantom of the Opera ( ); St arlight Express, Daisy Pulls It Off, T he Hir ed Man, Lend Me a T enor, Aspects of Love, Joseph, the Amazing T echnicolor Dreamcoat, Sunset Boulevard ( ); Jesus Christ Superstar, Whistle Down the Wind, T he Beautiful Game. 13), -,, Vol.28, No.6(2000.6),,

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16 Abst ract H ow to F in an c e K ore an F ilm - M ak ers Whon-I l Park Since Sw iri m ade an unprecedented mega - box hit in 1999, the Korean movie industry has enjoyed an alleged N eo- R enaissance after a long depressed period. Now Korea is one of a few countries that successfully defend local film m arket s against blockbuster hollyw ood cinem as. T hough Korean film - maker s hav e less difficulties in securing production funds than their predeces sors, there are still limited sources of funds like venture capitalist s, priv at e investment funds and netizen funds mobilized through the Internet. But w e can find a brand-new source of funds, i.e., securitizing future cash flow s from a series of m ovies, and other proceeds from VCR/ DVD conversion s, broadcast and cable T V program s and other adapt ation s from the original pictures. F or in stance, Dream w ork s Film succeeded t o issue U$ 325 million Aaa - bonds based on it s future receiv ables in Nov ember Another ex ample mu st be U$55 million Bow ie Bonds floated by an SPV which had bought the licen sing right s from the legendary rock artist, David Bowie, in February Otherwise a pool of theater s w ould be an ample source of funds as w itnes sed by Andrew Lloy d W ebber ' s Really U seful Group. In early 2000, Really U seful T hertres Limit ed successfully raised 84 million through a complicated structured financing. Right now it seem s impossible to apply such an asset securitization scheme t o m ovie production. But w e hav e m ade it pos sible for small and medium enterprises to raise handsome amount of monies through primary CBOs, or collat eralized bond obligation s. If ordinary Korean movie- goer s don ' t change their mind t o Korean m ovies in the near future, there is an increasing pos sibility for Korean film - makers to raise funds through structured financing and other sophisticated financial schem es. It is also required that they should expand the source of rev enues to the maximum ext ent, and preserv e the screen quota for Korean - made movies.

IMF구조조정.PDF

IMF구조조정.PDF 1) IMF * * * I. 1997 (International Monetary Fund: IMF) 210. 1) IMF IMF. 2), 2000 7 IMF, IMF 12 3.,, IMF, IMF, * (, ). **,. 1) 1997 12 IMF (stand-by credit) (Supplementary Reserve Facility; 1997.11.19