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¼öÀÍÁ¢±Ù¹ýÀ» Ȱ¿ëÇÑ LNG Ç÷£Æ®°ø»çÀÇ ÀÇ»ç°áÁ¤Áö¿ø½Ã½ºÅÛ ±â¼ú°¡Ä¡ Æò°¡ / Technology Valuation Evaluation Model of Decision Making System using Income Approach for Commercialization in LNG Plant Construction |
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¹Úȯǥ (Park, Hwan Pyo) ; ÇÑÀ籸(Han, Jae Goo) ; Áø°æÈ£ (Chin, Kyung Ho) |
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Çѱ¹°Ç¼³°ü¸®ÇÐȸ ³í¹®Áý, Vol.15 No.4 (2014-07) |
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½ÃÀÛÆäÀÌÁö(58) ÃÑÆäÀÌÁö(10) |
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±â¼ú°¡Ä¡Æò°¡ ; ¼öÀÍÁ¢±Ù¹ý ; ¹Î°¨µµ ºÐ¼® ; LNG Ç÷£Æ®°ø»ç ; ÀÇ»ç°áÁ¤Áö¿ø½Ã½ºÅÛ ; Technology Valuation ; Income Approach ; Sensitivity Analysis ; LNG Plant Construction ; Decision Making System |
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°Ç¼³±³ÅëºÐ¾ßÀÇ ±¹°¡R&D»ç¾÷ ÅõÀÚºñÁßÀº Áö¼ÓÀûÀ¸·Î Áõ°¡ Ãß¼¼À̰í, R&D ±Ô¸ðÃø¸é¿¡¼µµ 100¾ï¿ø ÀÌ»óÀÇ Áß´ëÇü ±Ô¸ðÀÇ ¿¬±¸°³¹ß»ç¾÷µéÀÌ ¸¹ÀÌ ³ªÅ¸³ª°í ÀÖ´Ù. ±×·¯³ª ±¹³»¿¡¼´Â Áö¼ÓÀûÀÎ ¿¬±¸°³¹ßÅõÀÚ¿¡µµ ºÒ±¸ÇÏ°í °³¹ßµÈ ±â¼úÀÇ »ç¾÷Ȱ¡ ÃßÁøµÇÁö ¾Ê´Â ±â¼ú ÈÞ¸éÈ Çö»óÀÌ ´ëµÎµÇ°í ÀÖ°í, ±â¼ú°³¹ß¿¡ ÇÑÁ¤µÇ¾î ÀÖ´Â R&D»ç¾÷ ¹üÀ§ È®´ë¸¦ ÅëÇØ R&D¼º°ú¸¦ »ç¾÷È¿Í ¿¬°è½Ãų ¼ö ÀÖ´Â ¹æ¾È ¸¶·ÃÀÌ ÇÊ¿äÇÏ´Ù. µû¶ó¼ º» ¿¬±¸´Â ¼öÀÍÁ¢±Ù¹ýÀ» ÀÌ¿ëÇÑ ±â¼ú°¡Ä¡ Æò°¡¸¦ ÇöÀç ÁøÇà ÁßÀÎ ¿¬±¸»ç¾÷¿¡ ´ëÇÏ¿© ±â¼ú°¡Ä¡ Æò°¡¸¦ ¼öÇàÇÏ¿©, ƯÇã±â¼úÀÇ °¡Ä¡¸¦ ±Ý¾×À¸·Î »êÁ¤ÇÏ¿© ±â¼ú½Ç½Ã°è¾à½Ã ÇÕ¸®ÀûÀÌ°í °´°üÀûÀÎ ±â¼ú°Å·¡ ±âÁذ¡°Ý°ú »ç¾÷È Àü·« µîÀ» Á¦½ÃÇÏ¿´´Ù. ÇØ´ç ±â¼ú¼ö¸í ±â°£ µ¿¾È âÃâ °¡´ÉÇÑ À׿©Çö±ÝÈ帧(FCF) ÇÕ°è¾×(»ç¾÷°¡Ä¡)Àº ÇÒÀÎÀ² 16.34%¸¦ ¹Ý¿µÇÏ¿© ÇöÀç°¡Ä¡·Î ȯ»êÇÒ °æ¿ì 512¹é¸¸ ¿øÀÌ »êÃâµÇ¾ú°í, ÇØ´ç »ç¾÷°¡Ä¡¿¡ »ê¾÷±â¼ú ¿ä¼Ò¹ýÀ» ÅëÇØ ±¸ÇØÁø ±â¼ú±â¿©µµ 44.39%¸¦ Àû¿ëÇÑ °á°ú ±â¼ú°¡Ä¡´Â 227¹é¸¸ ¿øÀ¸·Î µµÃâµÇ¾ú´Ù. ÀÌ·¸°Ô µµÃâ ±â¼ú°¡Ä¡ Æò°¡¸¦ ±â¹ÝÀ¸·Î ±â¼úÀÇ »ç¾÷È ¹× »ó¿ëÈ Àü·«¼ö¸³ÀÌ ÇÊ¿äÇϰí, ÀÌ¿¡ ´ëÇÑ »ç¾÷È ¿ä°Ç°ú ¸¶ÄÉÆÃ Àü·« µîÀÇ ¿¬±¸°¡ ÃßÈÄ ÃßÁøµÉ Çʿ䰡 ÀÖ´Ù. |
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The proportion of investment in national R&D projects in construction and transportation has been increasing continuously; in terms of the size of R&D projects, there are many medium- to large-sized projects of over KRW 10 billion. However, in spite of such continuous increase in R&D investments, there are many technologies developed but not commercialized, i.e., the quiescence of technology. Accordingly, it is necessary to link the R&D results to commercialization by expanding the scope of R&D projects. In this context, this study presented objective reference prices to be used in contracting/transacting technology and implementing commercialization strategy by conducting technology valuations against on-going research projects with earnings approach, and by estimating value of patented technology. Sum of free cash flow (business value) that can be generated during the life of the technology was estimated as KRW 512 million by reflecting a discount rate of 16.34% to convert it into the present value. In addition, the technology value was computed as KRW 227million by applying a technology factor of 44.39% to the above value. Based on the technology value estimated in this way, it is necessary to establish industrialization and commercialization strategy of the technology. |