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์‘๋‹ตํ•˜๋ผ, ๋ฉ”๊ฐ€์Šคํ„ฐ๋”” ์žฌ์ˆ˜๋ฅผ ๋งํ•œ๋‹ค. โ… . ์žฌ์ˆ˜ ๅคง ํ•ด๋ถ€ ์˜ˆ์ „์— ์žฌ์ˆ˜์ƒ์ด๋ผ๊ณ  ํ•˜๋ฉด ์„ฑ์ ์ด ์ข‹์ง€ ์•Š์•„ ๋Œ€ํ•™์ž…์‹œ์— ์‹คํŒจํ•œ ํ•™์ƒ ์ด๋ผ๋Š” ์ธ์‹์ด ์ง€๋ฐฐ ์ ์ด์—ˆ๋‹ค. ํ•˜์ง€๋งŒ ์ตœ๊ทผ์—๋Š” ์žฌ์ˆ˜๋ฅผ ๋ชฉํ‘œ๋ฅผ ํ–ฅํ•œ ์žฌ๋„์ „ ์ด๋ผ๊ณ  ๊ธ์ •์ ์œผ๋กœ ํ‰๊ฐ€ํ•˜๋Š” ๊ฒฝ ํ–ฅ์ด ๋šœ๋ ทํ•ด์กŒ๋‹ค. ๋•Œ๋ฌธ์— ๋Œ€ํ•™

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Contents DECEMBER Economic OECD IMF ISSN

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์‚ฐ๋ฆผ๋ณ‘ํ•ด์ถฉ ๋ฐฉ์ œ๊ทœ์ • 4. ์‹ ๋ฌธ ๋ฐฉ์†ก์˜ ๋ณด๋„๋‚ด์šฉ ๋“ฑ ์ œ6 ์กฐ( ์กฐ์‚ฌ์ง€์—ญ) ์ œ5 ์กฐ์— ๋”ฐ๋ฅธ ๋ฐœ์ƒ์กฐ์‚ฌ๋Š” ๋‹ค์Œ ๊ฐ ํ˜ธ์˜ ์ง€์—ญ์œผ๋กœ ๊ตฌ๋ถ„ํ•˜์—ฌ ์กฐ์‚ฌํ•œ๋‹ค. 1. ํŠน์ •์ง€์—ญ : ๋ช…์Šน์ง€ ์œ ์ ์ง€ ๊ด€๊ด‘์ง€ ๊ณต์› ์œ ์›์ง€ ๋ฐ ๊ณ ์†๊ตญ๋„ ์ผ๋ฐ˜๊ตญ๋„ ์ฒ ๋กœ๋ณ€ ๋“ฑ ๊ฒฝ๊ด€๋ณดํ˜ธ๊ตฌ์—ญ 2. ์ฃผ์š”์ง€์—ญ : ๋ณ‘ํ•ด์ถฉ๋ณ„ ์„ ๋‹จ

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LG Business Insight 1361

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๋ชฉ ์ฐจ ๊ด€๊ด‘์‹œ๋ก  ๊ด€๊ด‘ํŠน์„ฑํ™”๋ฅผ ํ†ตํ•ด ๊ตญ๊ฐ€๋ธŒ๋žœ๋“œ ๊ฐ€์น˜๋ฅผ ๋Œ์–ด์˜ฌ๋ฆฌ์ž ์ง„๋Œ€์ œ ์ธ์ฒœ์„ธ๊ณ„๋„์‹œ์ถ•์ „ ์กฐ์ง์œ„์›์žฅ 4 ์ด์Šˆ์™€ ์‚ฌ๋žŒ ์ธ์ฒœ๊ด‘์—ญ์‹œ ์•ˆ ์ƒ ์ˆ˜ ์‹œ์žฅ ๊น€์ƒํƒœ ํŽธ์ง‘์œ„์›์žฅ 6 ๊ธฐํšํŠน์ง‘ โžŠ ๊ธฐํšํŠน์ง‘ โž‹ ๊ด€๊ด‘์ˆ˜์š” ๊ธด๊ธ‰์ง„๋‹จ ์™ธ์ƒ์  ๋ณ€ํ™”๊ฐ€ ๊ด€๊ด‘์ˆ˜์š”์— ๋ฏธ์น˜๋Š” ์˜ํ–ฅ ํ•œ๊ตญ ๊ตญ์ œ๊ด€๊ด‘์‹œ์žฅ์˜ ํŠน์„ฑ๊ณผ

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ยฟร€ร‡ร‚ยผร’ยฝยบยฐยกร€รŒยตรฅ1 -new

์งˆ๋ฌธํ•˜์‹ค ์˜์›๋‹˜๊ป˜์„œ๋Š” ๋ฐœ์–ธ์‹œ๊ฐ„์„ ์ง€์ผœ ์ฃผ์‹œ๊ณ , ์ง‘ํ–‰๋ถ€์— ์„œ๋Š” ์ถฉ์‹คํ•œ ๋‹ต๋ณ€์ด ๋  ์ˆ˜ ์žˆ๋„๋ก ์ตœ์„ ์„ ๋‹คํ•ด ์ฃผ์‹ค ๊ฒƒ์„ ๋‹น ๋ถ€๋“œ๋ฆฝ๋‹ˆ๋‹ค. ๊ทธ๋Ÿฌ๋ฉด ์ง€๊ธˆ๋ถ€ํ„ฐ ์งˆ๋ฌธ์„ ์‹œ์ž‘ํ•˜๊ฒ ์Šต๋‹ˆ๋‹ค. ๋จผ์ €, ๆ–‡ ๅŒ– ๆ•Ž ่‚ฒ ๅง” ๅ“ก ๆœƒ ์†Œ์† ๏งก ๅบท ็ ่ญฐ ๅ“ก ์˜ ์งˆ๋ฌธ์ด ์žˆ๊ฒ ์Šต๋‹ˆ ๋‹ค. ๋‚˜์˜ค์…”์„œ ์งˆ๋ฌธํ•˜์—ฌ ์ฃผ

๊ตญ๊ฒฝ์˜ ๋น„์ „ ์ž‘์—… ๋…„๋Œ€ ๋“ค์–ด ์ง๋ฉดํ•˜๊ฒŒ ๋œ ๊ตญ๊ฒฝ์˜ ์ƒˆ๋กœ์šด ๋น„์ „์„ ๋ชจ์ƒ‰ํ•˜๊ธฐ ์œ„ KDI์˜ ๋…ธ๋ ฅ๋“ค ๊น€ ์ฃผ ํ›ˆ* Main Research Publications 2011 ๋น„์ „๊ณผ ๊ณผ: ์—ด๋ฆฐ ์„ธ์ƒ, ์œ ์—ฐ ๊ฒฝ ๊ฒฝ์‚ฌํšŒ์—ฌ๊ฑด ๋ณ€์™€ ์žฌ์ •์˜ ์—ญํ•  ์žฌ๋ฒŒ๊ฐœํ˜์˜ ์ •์ฑ…๊ณผ์™€ ๋ฐฉํ–ฅ ๋ถ๊ฒฝ ๋ฐœ์ „

รยฆ3ยบรŽ-6ร€รฅ

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๋ฐœํ‘œ๋ฅผ ์‹œ์ž‘ํ•˜๊ธฐ ์ „์— FTA๋Š” ํ˜„๊ธˆ์ด๋‹ค : ์•Œ๋ฉด ์ด์ต, ๋ชจ๋ฅด๋ฉด ์†ํ•ด - FTA ํ™œ์šฉ ๊ด€์„ธ์ ˆ๊ฐ ์‚ฌ๋ก€ (D ์‚ฌ) ๋…„ 2์ฒœ์–ต ์› ์ˆ˜์ž… ์‹œ FTA ํ™œ์šฉ์œผ๋กœ 160์–ต ์› ๊ด€์„ธ ์ค‘ 44์–ต ์›์˜ ๊ด€์„ธ ์ ˆ๊ฐ (์ ˆ๊ฐ์œจ : 27.5%), ํ•œ.๋ฏธ FTA, ํ•œ.EU FTA, ํ•œ.

ๆญฏํŠน์ง‘1.PDF

์—ญ์‚ฌโ‘ก์ž(๋ฌธ์ œ)_ํ•ด์„ค(082~120)OK

Microsoft Word - Macro doc

Microsoft Word _LIGMarketTalk.doc

LG Business Insight 1245

KiRi_Weekly_์ œ164ํ˜ธ( ).hwp

์ƒˆ ๊ฒฝ์ œํŒ€์ด ์ง€๋‚œ 24์ผ ์˜ฌํ•ด ๊ฒฝ์ œ ์ „๋ง์„ ๋‹น์ดˆ ์˜ˆ์ƒ๋ณด๋‹ค ํ•˜ํ–ฅ ์กฐ์ •ํ•˜๋ฉด์„œ ๊ฒฝ์ œ์ • ์ฑ…๋ฐฉํ–ฅ์„ ๊ตฌ์ฒด์ ์œผ๋กœ ํ™•์ • ๋ฐœํ‘œํ–ˆ๋‹ค. ๊ฐ•๋ ฅํ•œ ํ•œ ๋ฐฉ ๋“ฑ ์ ๊ทน์ ์ธ ์žฌ์ •์ •์ฑ…์„ ์˜ˆ๊ณ  ํ–ˆ๋˜ ์ƒˆ ๊ฒฝ์ œํŒ€์˜ ์ฃผ์š” ๊ฒฝ์ œ์ •์ฑ…์ด ์šฐ๋ฆฌ๋‚˜๋ผ ๊ฒฝ์ œ์— ์–ด๋–ค ์˜ํ–ฅ์„ ๋ฏธ์น  ๊ฒƒ์ธ์ง€, ์ด ์— ๋”ฐ๋ฅธ ์‹œ์‚ฌ์ ์€ ๋ฌด์—‡์ธ์ง€ ์‚ด

๋ชฉ ์ฐจ ์š” ์•ฝ 1 ์ œ1๋ถ€ ๊ตญ๊ฐ€๊ณผํ•™๊ธฐ์ˆ ๋น„์ „ โ… . ๊ณผํ•™๊ธฐ์ˆ ๊ธฐ๋ณธ๊ณ„ํš ์ˆ˜๋ฆฝ์˜ ๋ฐฐ๊ฒฝ๊ณผ ์˜์˜ 25 โ…ก. ๊ตญ๋‚ด์™ธ ๊ณผํ•™๊ธฐ์ˆ  ํ™˜๊ฒฝ ๋ณ€ํ™”์™€ ๊ณผ์ œ 27 โ…ข. ๊ตญ๊ฐ€๊ณผํ•™๊ธฐ์ˆ  ๋น„์ „ ๋ฐ ์ •์ฑ…๋ฐฉํ–ฅ 40 ์ œ2๋ถ€ ๊ตญ๊ฐ€์ „๋žต๊ณผํ•™๊ธฐ์ˆ ์˜ ๊ฐœ๋ฐœ โ… . ์ง€์‹-์ •๋ณด-์ง€๋Šฅํ™” ์‚ฌํšŒ๊ตฌํ˜„์„ ์œ„ํ•œ ๊ธฐ์ˆ  ๊ฐœ๋ฐœ 49 โ…ก. ๊ฑด๊ฐ•


(160218)'16๋…„_๊ฒฝ์ œ์‚ฌํšŒ_์ „๋ง๊ณผ_๊ณผ์ œ_์ง‘๋‹ดํšŒ-๋ฐœ์ œํ† ๋ก ๋‚ด์šฉ.hwp


CONTENTS I. ๊ธ€๋กœ๋ฒŒ ๊ธˆ์œต์‹œ์žฅ ์ฝ๊ธฐ... 3 II. ๊ธˆ์œต์ƒํ’ˆ ํˆฌ์ž์ „๋žต... 8 III. ๊ธˆ์œต์ƒํ’ˆ ํŠธ๋ Œ๋“œ IV. ๊ตญ๋‚ด ์ฃผ์‹ ํˆฌ์ž์ „๋žต V. Large Cap ์ถ”์ฒœ์ข…๋ชฉ VI. Mid Small Cap ์ถ”์ฒœ์ข…๋ชฉ VII. WM

์›์ด๋ฉฐ ๊ฒฝ์ œ ์ •์ฑ…์˜ ์ค‘์‹ฌ์ด์—ˆ๋‹ค. ํ† ์ง€๊ฐ€ ์žฌ์‚ฐ์˜ ์‹œ์ž‘์ด๋ผ ํ•  ์ˆ˜ ์žˆ๊ธฐ์— ์ œํ•œ๋œ ๋•…์˜ ํฌ๊ธฐ๋ฅผ ๊ฐ€์ง€๊ณ  ๋ฐฑ์„ฑ๋“ค์—๊ฒŒ ์–ด๋Š ์ •๋„ ๋‚˜๋ˆ„์–ด ์ค„์ง€, ๊ตญ๊ฐ€๋Š” ์–ผ๋งˆ๋ฅผ ๊ฐ€์ ธ์„œ ์žฌ์ •์„ ์ถฉ๋‹นํ• ์ง€, ๋˜ ๊ด€๋ฃŒ๋“ค์€ ์–ผ๋งˆ๋ฅผ ์ค„ ๊ฒƒ์ธ์ง€์— ๋Œ€ํ•ด ์™•์กฐ๋งˆ๋‹ค ์ค‘์š”ํ•œ ์‚ฌํ•ญ์ด์—ˆ๋‹ค. ์ •๋„์ „์˜ ํ† ์ง€๊ฐœํ˜์€ ๊ทธ๋Ÿฐ ์˜๋ฏธ์—

ํ•˜๋‚˜ ๊ธˆ์œต์ •๋ณด I. ๊ธˆํ†ต์œ„ ๊ฒฐ๊ณผ ๋ฐ ์‹œ์žฅ๋™ํ–ฅ ๊ธˆํ†ต์œ„, ๊ธˆ๋ฆฌ์ธํ•˜ ๊ด€๋ จ ์†Œ์ˆ˜์˜๊ฒฌ์ด 1์ธ์— ๊ทธ์นœ ๊ฐ€์šด๋ฐ 9๊ฒŒ์›” ์—ฐ์† ๊ธฐ์ค€๊ธˆ๋ฆฌ ๋™๊ฒฐ๊ธฐ์กฐ๊ฐ€ ์ง€์† ๊ธˆํ†ต์œ„๋Š” ๊ฒฝ์ œ์ง€ํ‘œ ๋ถ€์ง„์—๋„ ๋ถˆ๊ตฌ, ๊ตญ๋‚ด์™ธ ๊ธˆ์œต์‹œ์žฅ ๋ถˆํ™•์‹ค์„ฑ์ด ์ž”์กดํ•˜๋Š” ์ ์„ ๊ณ ๋ ค ํ•ด 9๊ฐœ์›” ์—ฐ์† ๊ธˆ๋ฆฌ๋ฅผ ๋™๊ฒฐํ–ˆ์œผ๋ฉฐ 2์›”์— ์ด์–ด ๊ธˆ๋ฆฌ์ธ

2 (์ œ179ํšŒ-์˜ˆ๊ฒฐํŠน์œ„ ์ œ2์ฐจ) (10์‹œ00๋ถ„ ๊ฐœ์˜) ์œ„์›์žฅ ๋ฐ•ํ˜•๋• ์˜์„์„ ์ •๋ˆํ•˜์—ฌ ์ฃผ์‹œ๊ธฐ ๋ฐ”๋ž๋‹ˆ๋‹ค. ์„ฑ์›์ด ๋˜์—ˆ์œผ๋ฏ€๋กœ ๋™๋‘์ฒœ์‹œ์˜ํšŒ ์˜ˆ์‚ฐ๊ฒฐ์‚ฐํŠน๋ณ„์œ„์›ํšŒ ์ œ2์ฐจ ํšŒ์˜๋ฅผ ๊ฐœ์˜ํ•˜๊ฒ ์Šต๋‹ˆ๋‹ค ๋…„๋„ ์ผ๋ฐ˜ ๋ฐ ํŠน๋ณ„ํšŒ๊ณ„ ์„ธ์ž…์„ธ์ถœ ์ œ1ํšŒ ์ถ”๊ฐ€๊ฒฝ์ • ์˜ˆ์‚ฐ์•ˆ(๊ณ„์†) ์œ„์›์žฅ ๋ฐ•ํ˜•

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2001๋…„ ์„ค๊ต ๋ชจ์Œ

์ž๋™์ฐจ์™€ IT๊ฐ€ ๋งŒ๋‚˜๋ฉด์„œ ์˜ํ™” ์†์—์„œ๋‚˜ ๊ฐ€๋Šฅํ–ˆ๋˜ ์žฅ๋ฉด๋“ค์ด ํ˜„์‹ค๋กœ ๋‹ค๊ฐ€์˜ค๊ณ  ์žˆ๋‹ค. ์ž๋™์ฐจ ์‚ฐ์—…์€ ์ข€ ๋” ์•ˆ์ „ํ•˜๊ณ  ํŽธ๋ฆฌํ•จ์„ ์›ํ•˜๋Š” ์†Œ๋น„์ž์˜ ๋‹ˆ์ฆˆ์— ๋งž์ถฐ ๊ธฐ๊ณ„์žฅ์น˜์—์„œ ์ „์ž์žฅ์น˜ ์ค‘์‹ฌ์œผ๋กœ ๋ณ€ํ™”ํ•˜๊ณ  ์žˆ๋‹ค. ์ตœ๊ทผ์—๋Š” ์นœํ™˜๊ฒฝ, ์•ˆ์ •์„ฑ, ํŽธ์˜์„ฑ์— ์ดˆ์ ์„ ๋งž์ถ˜ ๊ฟˆ์˜ ์ž๋™์ฐจ๋„ ๊ฐœ๋ฐœํ•  ์ˆ˜

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ยปรฝรˆยฐยผร“ยบรŽยตยฟยปรชรยคยบยธPDF

์š” ์•ฝ ์„ธ๊ณ„์ ์œผ๋กœ FTA๊ฐ€ ํ™•์‚ฐ๋˜๋Š” ๊ฐ€์šด๋ฐ, ๊ธˆ๋…„ ๋“ค์–ด ํ•œ๋ฏธ FTA ํ˜‘์ƒ์ด ๊ธ‰๋ฌผ์‚ด์„ ํƒ€๊ณ  ์žˆ๋‹ค. FTA์˜ ๋ชฉํ‘œ๋Š” ์ž์œ ๋ฌด์—ญ์„ ํ†ตํ•ด ์—ญ๋‚ด ๊ตญ๊ฐ€์˜ ๊ฒฝ์ œ์  ์ด๋“์„ ๋„๋ชจํ•˜๋Š” ๊ฒƒ์ด๋‹ค. ๊ทธ๋Ÿฌ๋‚˜ ํ•œ๋ฏธ FTA๋Š” ์–‘๊ตญ๊ฐ„์˜ ํ†ต์ƒ ํ™•๋Œ€ ์ด์™ธ์— ๋‹ค์–‘ํ•œ ์ •์น˜ใ†๊ฒฝ์ œ์  ์˜๋ฏธ๋ฅผ ์ง€๋‹ˆ ๊ณ  ์žˆ์œผ๋ฏ€๋กœ,

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ร€รผยณยฒร€รบยณรŽ 317รˆยฃ

201201ํ™์ต๋…ธ์‚ฌ๋ณธ๋ฌธ.indd

*๋…ผ์ด๊ธฐํš(1~160)

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๋ฐ•ํ˜„-์กฐ์„ ์ด๋…๋ถ€์˜ ๊ธˆ ์œ ํ†ต ํ†ต์ œ์™€ ์กฐ์„ ์‚ฐ๊ธˆ๋งค์ž…(์ฃผ)์˜ ์„ค๋ฆฝ.hwp

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Microsoft Word - ์ˆ˜๊ธ‰๊ด€์‹ฌ์ฃผ0707.doc

**รยฆร€ร 2ยฟรนรˆยฃ(รˆรฆยนรฉ)

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Transcription:

2 0 0 2 2002. 9. 16

- -.... 1.... 3 1.... 3 2.... 5.... 7 1.... 7 2.... 11 3.... 14 4.... 17 5.... 20 6... 22 7.... 23.... 24.... 25 < >... 49

. 1. 2. 1, 1, 2, 6, 742( ) -, -,,,,, -,,,,,,,,,,, 3. () 2 411 16 85 514 68 1 21 90 10 10 39 6 1 46 2 528 17 6 107 660 * 24 ( ) 22-1 -

< > (3) (1) (1) - 2 -

. 1., 7, 8 * : (0 1)10,022(02.3.19)10,635(7.23)7,702(9.13)8,3 13 * / : (01)0.8843(02.2.1)0.8587(7.20)1.0128(9.13)0.9820 - -, - 8, * (,%) : (02.3)0.3 (4)0.1 (5)0.5 (6)0.7 (7)0.2 * (,%) : (02.3)0.4 (4)0.6 (5)0.0 (6)0.5 (7)1.0 * (%) : (02.3)5.7 (4)6.0 (5)5.8 (6)5.9 (7)5.9 (8)5.7 * (85=100) : (02.5)110.3(6)106.4(7)97.4(8)93.5, 2 % * (,%) : (01)0.3 (02.1/4)5.0 (2/4)1.1, (02,IMF)2.3-3 -

2/ 4 2.6%, * (,%) : (01)0.2 (02.1/4)0.1 (2/4)2.6, (02, IMF)1.0 * (,%) : (02.1/4)0.5(2/4)1.5(5)1.1(6)0.4(7)2.2 * (,%) : (02.1/4)0.5(2/4)1.5(5)12.3(6)7.0(7)1.2 * (,%) : (02.1/4)7.4(2/4)4.5(5)5.8(6)5.6(7 )0.5, * (,%) : (01)1.5 (02.1/4)1.3 (2/4)1.2, (02, IMF)1.4 8, * Dubai ($/bbl) : (01)17.9(02.3)24.4(6)24.6(8)26.3(9.13)26.5 P C, 128M DRAM8 1$ * SDR128MD($) : (01)2.42(02.3)3.38(6)2.44(8)1.63(9.13)1.72 * SDR256MD($) : (01)4.57(02.3)7.94(6)4.64(8)2.99(9.13)2.63 2/ 4,,, - 4 -

2. 6.1% * GDP(%) : (0 1) 3.0 (02.1/4) 5.8 (2/4) 6.3, 6.1 * (% ) : (0 1) 4.2 (02.1/4) 8.4 (2/4) 7.7, 8.0 * (% ) : (0 1) 9.8 (02.1/4) 3.2 (2/4) 7.4, 5.2, 7 8.9 %, 9.5%, * (%) : (0 1) 1.8 (02.1/4) 3.9 (2/4) 6.8 (7) 8.9 * (% ) : (0 1) 5.7 (02.1/4) 9.1 (2/4) 9.0 (7) 9.5 * (%) : (0 1) 4.6 (02.1/4) 8.0 (2/4) 6.4 (7) 6.6 8 20.4% 7 19.4% 2 * (%) : (01)12.7 (02.1/4)11.0 (2/4)5.0 (7)19.4 (8)20.4 5 9 * BSI() : (02.4)141 (5)143 (6)122 (7)115 (8)100 (9)119 * ASI() : (02.4)123 (5)123 (6)98 (7)77 (8)87 (9)120-5 -

5 3 % * (%) : (01) 3.7 (02.1/4) 3.6 (2/4) 2.9 (7) 2.7 (8) 2.9 * (%) : (01) 7.6 (02.1/4) 8.0 (2/4) 6.4 (7) 6.3 (8) 6.1 8, * (,%) : (01)4.1 (02.6) 2.6 (7)2.1 (8) 2.4, (18) 2.5, 7 * / ( ) : (01)1,291 (02.4)1,319 (7)1,185 (8)1,196 (9.13)1,204 8 * : (01)693.7 (02.7)718.0 (8.6)673.8 (9.13)718.2 17 35.5, * ( ) : 0 1.1769.7 ( 86.2) 02.1735.5 * ( ) : 01.1713.1( 35.3) 02.1737.6 6 % * 02 (%) : (7.4)6.5, KDI(7.19)6.1, (8.5)6.5, (8.13) 6.0,,, - 6 -

. 1. 1-1. (8 ), ( 01, 2.5 02, 3 ) (4.1 ) * 02 : 26.3 (18 16.7) - * (5 7.5 ) - - 7 -

1-2. 8 2.5% (%) 200 1 2002.12345 6 7 8 18-4.1 * 2.6 2.6 2.3 2.5 3.0 2.6 2.1 2.4 2.5 * - (3.2) ** (0.6) (0.5) (0.6) (0.6) (0.4) (0.1) (0.3) (0.7) - *, ** 22 * (9.6~9.19, 14 ) *,,, 240 %, 30%,,,,, - - - -, - 8 -

1-3. 90 (9.4) < >, < > 1 * 1 5, 2 -, 1 1 (31 ) - 9 -

- ( 50 45) 1 3 - ( )( ), 7080 % (: 6 0 %),,, < >, 23-10 -

2. 2-1. ( ) ( ) ( ) () - -, - 11 -

(: ET F ) 10 -,, 2-2. (1.25) < > * : 51% (4.29) * : (11.8%) (6.24) * : (8.19) (9.13) 9-12 -

( 02.9.13), < > - 0 1.3-0 1.12 Met Life - 02.3 Met Life - 02.6 * (26 ) * - Fire Wall, 2-3. * 0239 (1,08 1 ) 3-13 -

3. 3-1. WT O 2 1 1 2005.1.1 DDA,, 15 ('02.2) * * '02.3,,, - DD A - 14 -

3-2. ( ) ( 02.7.24), Mega Hub Port,,,,,,, IT, IT, IT IT, * 2002.9.13 S/ W - 15 -

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5. 5-1. 02. 5 5 * * () () () - 1 () - 2 () () 5-2. (7.1) 1,700 7,200 ( 01, 5,500) * 02.8 1,5 12, 188 70% (6% ) (3.11) (7.1) * (25.7) * 119317 (100 80%, ) - 20 -

1%p (7.1) * 59, 109,109 (7.18) (8.29 ) (0 1.12.17 ) 7 2 2 ( 30 ) * (45 ), (12 ), (64 ), S/W (12 ), (12 ), 1 ( 03-07) (6.18) 5-3., * 01.11 5, - 21 -

6. 01.11.28 (FIU ), (A P G), 12 - (FIU) (M OU ) - 22 -

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2. ().,. 20001231,,., - 27 -

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3. ().,. 3 5, 50 %, 20 % 10 % 10 5 3. - 33 -

4. ().,.. - 34 -

5. (). ( 02.8.29),. 4,000 4,000,,,. - 35 -

6. (). ('01.12),.. - ( ). - - -. - 36 -

7. (). 2002.7.24. ( ).,, IT - 37 -

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9. ()., -,,. (, ),,,,, (,, ). - 39 -

10. (). (5.20 ) * - * : ()1. (: 5). - - 40 -

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12. ().,,. neg ative,.,,, - 42 -

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15. (). 97.11.23 02.11.23.. - 45 -

16. ( ). 74 7080-92, 03.4.1 * * 99.12.311. 0 3.1.2, (49 4 ) 03 (10 0 ) -,. - 46 -

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18. (). 99 49 25. - (49, ) - 25 - -,, (2002). - 48 -

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. () ( 02.6.28 ) : : 25 < > 99 < > + 30 69 20 49 18 ( ) 18 * 023 < (20 ) > 25 0.1% < (49 ) > () 25 2 ( ) - 50 -

. 1. 0 2.3 ( ) < > 99 18 ( ) < > + 30 69 20 49 18 '0 2.12 < > 97 22 ( ) < > + 28 69 20 49 22 4-51 -

2. 3. (), - IMF,,, - - 52 -

4. ( ) : ( 03.1) ( ) :, ( 03.1) 5. 200 2, 2002.3 '02.318 02.1222-53 -

6. (9.7 )KA M CO (3.3 ) 13 2004 200636 15 KA M CO 46. 9.6 * (20 ) *,, 9 10-54 -

. 1... ( ) (KAMCO) (9 9 ) (50 ) (49 ) 25-55 -

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2.,,, 8 2 ( 03.1) 20 (25 ) 0.3 %, 0.1 % 25 3. ( 2) 5 ( 02.11 ) 0 2.11, - 58 -