̽ Һڵ ſī峪 ī, ICī ǰ 뿪 Ž ī糪 ִ VAN(Value Added Network)ü̴. ߰ 븮 ؼ ϰ ǰ, Ϲ Һڵ ǰ̳ 뿪 ϰ ſī ϸ ݾ ְ ī糪 κ Ḧ ̴.
ü 캸 DZ ܸ⸦ ̽ host ϰ Ǹ, ī host ѵ üũϿ ̽ host ϰ Ǹ ̷ ̴.
ſī VAN 10 ü ϰ ִµ 4縦 ϰ ũ Ȳ̴.
M/S1 KMPS 2001 2.8% 2002 9.3%, 2003 13.8%, 2004 19.4% ްϰ µ SK迭簡 ־ SK ַ ްϰ Ȯ ̴.
̿ ȸ · 迭 óϰ ִµ ڱݾ ũ Cash flow ִ ̱ ̴. ̴Ͻý ̱ ۽Ʈ(FDC) KMPSֽ 48(42.25%) 301 ŰϿµ, SK(22.89%), SKڷ(15.85%) 80% 600 μ ̴.
SK ۽ Ż ɼ ũ Ȳ а ӵ ̴.
, īVANڵ ܸ⸦ ġϰ Ǹ âDZ ܸ Ȥ ޱ . ġ ܸ (14 ) Ϳ Ÿ ް ȴ. (2001~2002 ġ )
2005 10 VAN Ͽ ź ܹ ѱſīVANȸ Ͽ ϰ ִ. ΰ ǽϰ ִ ̸ ᵵ ߾ ϰ ִ.
ī ƿҽ ϴ 翡 θ δ ƿҽ ϴ 鿡 ϱ ̴. װ ߴ ȿ ִ.
ְ 300̾ ᰡ Ǵ 150 ϰ ־. ۳ 2 180 150 ϰ ־µ 2~3 ֱ й ִ. ī īVANڵ ٽ Ϻ й κ ͼ ְ ȴ.
ݿ, Ʈ ο Ϳ ݿ Ǵ 20, Ǵ 30 Ը ̹ Ȳ̴. Ѱ ICī ε, ſī尡 ICī ü īǥ ó ʿ ۿ . 150 80 + ǥ 70 Ǿ ־ ǥ ȸ ʿ Ǿ Ϻ Ḧ ִ ۿ ̴. ( īǥ ) 3 ŵǰ ִ.
05 02 Ϸ а ϰ ̸, 2006 ͼ ̴.
2005 04 īΰǼ 30% ϸ鼭 ũ Ÿ. 2005 ū ̲ 2006 2007 05 ̴. ̽ ͼ Ǵ ſī Ǽε Ҿװ ȭ Ǿ Ǽ þ ̹ ̴.
2006 Ư 2007 ʹ ٽ йڿ ô ɼ ־ ͼ ټ Ѽյ ִ ɼ Ѵ.
, ̽ ū ŷ Cah flow 缺̴. 05 04 2 ̻ ̾ 翡 밨 Ȳ̳ 04 缺 52.5% ĥ ̴. 04 ְ϶ ־ ̴.
05 100 ̻ ǽõ ̳ 缺 50% Ѵ ϱ ִ. ̽ Աݿ 80 ݼ ڻ ߰ ڰ ʿ Cash Flow ־ ̴.
̽ űԻ ȹ Ȳ ̴. ̽ ְ ̲ ٴ ϰ ִ å ǽϰ ʴٴ ƽ ̴.
̽ ְ 06 PER 6( ͷ 5.6%) Ǿ ִ Ǵܵȴ. 07 ܰ ɼ δ ִ. Cash Flow PER 6 ؿ ִٴ ŷ δ.
̰DZ(bluemoon@viptooza.com)
ܸ ü ϷǾٴ(ROE )
ܸⱳü 谡 ϴٴ()
δ ̻ ٴ
߿ κ