{"id":2633,"date":"2020-09-10T10:47:28","date_gmt":"2020-09-10T01:47:28","guid":{"rendered":"https:\/\/bcgblog.kr\/?p=2633"},"modified":"2021-10-27T13:41:10","modified_gmt":"2021-10-27T04:41:10","slug":"the-pandemic-puts-a-new-premium-on-performance","status":"publish","type":"post","link":"https:\/\/bcgblog.kr\/the-pandemic-puts-a-new-premium-on-performance\/","title":{"rendered":"\ucf54\ub85c\ub098 \uc704\uae30, \ubcf4\ud5d8 \uc131\uacfc\uc5d0 \uc0c8\ub85c\uc6b4 \ud504\ub9ac\ubbf8\uc5c4\uc744 \ub354\ud558\ub2e4"},"content":{"rendered":"<h3><strong>2020 \ubcf4\ud5d8\uc5c5 \uac00\uce58\ucc3d\ucd9c\uae30\uc5c5 \ubcf4\uace0\uc11c<\/strong><\/h3>\n<p>\u201c\uc0c1\ud669\uc774 \uc5b4\ub824\uc6cc\uc9c0\uba74, \uac15\uc778\ud55c \uc0ac\ub78c\ub4e4\uc740 \ub354 \uac15\ud574\uc9c4\ub2e4.\u201d<\/p>\n<p>\ud604\uc7ac \uc0c1\ud669\uc774 \uc5b4\ub824\uc6b4 \uac83\uc5d0\ub294 \uc758\ubb38\uc758 \uc5ec\uc9c0\uac00 \uc5c6\ub2e4. 2019\ub144, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud3c9\uade0 \ucd1d\uc8fc\uc8fc\uc218\uc775\ub960 28%\ub97c \ub2ec\uc131\ud588\ub2e4. \ud68c\ubcf5\uc138\ub97c \ubcf4\uc774\ub294 \ub354 \uad11\ubc94\uc704\ud55c \uc2dc\uc7a5 \ud3c9\uade0 27%\uc5d0 \uac78\ub9de\uac8c, 2019\ub144 12\uc6d4 31\uc77c\uae4c\uc9c0 5\ub144\ub3d9\uc548, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud3c9\uade0 8.2%\uc758 TSR\uc744 \uae30\ub85d\ud588\ub294\ub370 \uc774\ub294 \uc2dc\uc7a5 \uc804\uccb4\uc2e4\uc801\uc744 1.4% \ud3ec\uc778\ud2b8 \uc815\ub3c4\ub85c \uc57d\uac04 \ubc11\ub3c4\ub294 \uac83\uc774\uc5c8\ub2e4.<\/p>\n<p>\uc120\ub3c4 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc2e4\uc801\uc774 \ud6e8\uc52c \ub354 \uc88b\uc558\ub2e4-\uc5c5\uacc4 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 2019\ub144 36%\uc758 TSR\uc744 \uae30\ub85d\ud588\uace0 2014\ub144 \uc774\ud6c4 \uc5f0\uac04 20%\uc758 TSR\uc744 \ub2ec\uc131\ud588\ub294\ub370, \uc8fc\ub85c \uc21c\uc790\uc0b0 \uc131\uc7a5(BCG \uc5f0\uad6c \uc804\uccb4 \ud45c\ubcf8\uc758 5.5%\ub300\ube44 13.4%)\uacfc \uc8fc\uac00 \ubc30\uc218 \uc99d\uac00(multiple expansion) (\ud45c\ubcf8\uc758 -1.9% \ub300\ube44 4.6%) \ub355\ubd84\uc774\uc5c8\ub2e4. \ucd5c\uace0\uc2e4\uc801\uae30\uc5c5\ub4e4\uc740 \uc8fc\uc8fc\ub4e4\uc5d0\uac8c \ud604\uae08\uc744 \ub35c \uac00\uc838\ub2e4 \uc8fc\ub294 \ub300\uc2e0 \uc218\uc775\uc131\uc788\ub294 \uc131\uc7a5\uc5d0 \uc790\ubcf8\uc744 \ub354 \ub9ce\uc774 \ud22c\uc790\ud55c\ub2e4. \uc21c\uc790\uc0b0\uc131\uc7a5\uacfc \uc720\ud615\uc790\uae30\uc790\ubcf8\uc218\uc775\ub960(RoTE: return on tangible equity) \uac1c\uc120\uc758 \uc870\ud569\uc740 TSR\uc758 \uac00\uc7a5 \uac15\ub825\ud55c \uc131\uc7a5\ub3d9\uc778\uc774\uc5c8\ub2e4. \uc790\uae30\uc790\ubcf8\ube44\uc6a9(CoE: cost of equity)\ubcf4\ub2e4 RoTE\uac00 \ub192\ub2e4\ub294 \uac83\uc740 \uc131\uc7a5\uc774 \uc218\uc775\uc131 \uc788\ub2e4\ub294 \uac83\uc774\uba70 RoTE\uc758 \ud655\ub300\ub294 \uc8fc\uac00 \uc21c\uc720\ud615\uc790\uc0b0 \ube44\uc728 (P\/TB: price-to-tangible book value) \ubc30\uc218\uc758 \uac1c\uc120\uc73c\ub85c \uc774\uc5b4\uc9c4\ub2e4.<\/p>\n<p>\ucf54\ub85c\ub098 19\uc0ac\ud0dc \uc774\ud6c4, \uc0c1\ud669\uc740 \ub354\uc6b1 \uc5b4\ub824\uc6cc\uc84c\ub2e4. \ub9ce\uc740 \uad6d\uac00\ub4e4\uc774 \uae08\ub9ac\ub97c \uc5ed\ub300 \ucd5c\uc800\uc218\uc900\uc73c\ub85c \uc778\ud558\ud588\uc73c\uba70, \uc774\ub294 \ud22c\uc790\uc758\uc874\ud615 \uc0b0\uc5c5\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce60 \uc218\ubc16\uc5d0 \uc5c6\uc5c8\ub2e4. \uae08\uc735\uc5c5\uc5d0\uc11c\ub294, \uc740\ud589\uc774 \uac00\uc7a5 \ud070 \ud0c0\uaca9\uc744 \ubc1b\uc558\uc73c\uba70, \ubcf4\ud5d8\uc0ac\uac00 \uadf8 \ub4a4\ub97c \uc774\uc5c8\ub2e4. 6\uc6d4 11\uc77c \uae30\uc900, \ubcf4\ud5d8\uc0ac\ub294 \uc2dc\uc7a5\ubcf4\ub2e4 12% \uc800\uc870\ud55c \uc2e4\uc801\uc744 \ubcf4\uc600\ub294\ub370, \uc774\ub294 \uae00\ub85c\ubc8c \uae08\uc735\uc704\uae30\uc640 \ube44\uc2b7\ud55c \uc218\uc900\uc774\ub2e4. \ubcf4\ud5d8\uc5c5\uc758 \uc790\uc0b0 \ub808\ubc84\ub9ac\uc9c0\ub294 3\ub300 \uc8fc\uc694 \uc790\uc0b0\uad00\ub828 \uc775\uc2a4\ud3ec\uc838-\uae08\ub9ac, \uc2e0\uc6a9\uc2a4\ud504\ub808\ub4dc, \uc8fc\uc2dd\uc2dc\uc7a5-\ub4e4\uc774 \ubaa8\ub450 \ub3d9\uc2dc\uc5d0 \ud558\ub77d\ud558\uba74\uc11c \uc5b4\ub9c8\uc5b4\ub9c8\ud55c \ubd80\ucc44\uac00 \ub410\ub2e4. \ubfd0\ub9cc \uc544\ub2c8\ub77c, \uae30\uc5c5\ubcf4\ud5d8\uacfc \uc7ac\ubcf4\ud5d8\uc5d0\uc11c \uc218\ubc31\uc5b5 \ub2ec\ub7ec\uc758 \uc190\uc2e4\uc774 \uc5b8\ub354\ub77c\uc774\ud305(underwriting) \uc2e4\uc801\uc744 \uc800\ud574\ud560 \uac83\uc73c\ub85c \ubcf4\uc774\uba70, \uc774\ub85c \uc778\ud55c \uc601\uc5c5 \uc911\ub2e8 \ubc0f \uae30\uc5c5 \ucc45\uc784\ubcf4\ud5d8\uc758 \ucd5c\uc885\uc801\uc778 \uc601\ud5a5\uc758 \uaddc\ubaa8\ub294 \ub9e4\uc6b0 \ubd88\ud655\uc2e4\ud558\ub2e4. \uc774\uc640\ub294 \ub300\uc870\uc801\uc73c\ub85c \uc790\ub3d9\ucc28\ubcf4\ud5d8\uc0ac\ub294 \ubd09\uc1c4\uc758 \uacb0\uacfc\ub85c \ubcf4\ud5d8\uae08 \uccad\uad6c\uac74\uc218\uac00 \ub0ae\uc544\uc9c4 \uac83\uc774, \ubcf4\ud5d8\uc0ac\uae30\uc728 \uc99d\uac00\ub85c \ubd80\ubd84\uc801\uc73c\ub85c \uc0c1\uc1c4\ub418\uae30\ub294 \ud588\uc9c0\ub9cc, \uc720\ub9ac\ud558\uac8c \uc791\uc6a9\ud588\ub2e4.<\/p>\n<p>\uc0c1\ud669\uc740 \uc27d\uac8c \uac1c\uc120\ub420 \uac83 \uac19\uc9c0 \uc54a\ub2e4. \uc120\uc9c4\uad6d \ubcf4\ud5d8\uc2dc\uc7a5\uc758 \uae08\ub9ac \uc804\ub9dd\uc740 \u2018\uc7a5\uae30\uac04 \uc800\uae08\ub9ac\uae30\uc870\u2019\uc5d0\uc11c \u2018\uc601\uad6c\uc801 \uc800\uae08\ub9ac\uae30\uc870\u2019 \ub85c \ubcc0\ud588\ub2e4. \uacb0\uacfc\uc801\uc73c\ub85c, \uc218\uc775\uc131\uc774 \ud6e8\uc52c \ub0ae\uc740 \uc99d\uad8c\ub4e4\uc774 \ub9cc\uae30 \ucc44\uad8c\uc744 \ub300\uccb4\ud558\uac8c \ub418\uba74\uc11c \ud22c\uc790\uc218\uc775\uc740 \uacc4\uc18d\ud574\uc11c \ucd95\uc18c\ub420 \uac83\uc774\ub2e4. \ube60\ub974\uac8c \ud68c\ubcf5\uc911\uc778 \uc8fc\uc2dd\uc2dc\uc7a5 \ub355\ubd84\uc5d0, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud070 \uc190\ud574\ub97c \ud53c\ud560 \uc218 \uc788\uc5c8\uc9c0\ub9cc, \uc2e0\uc6a9\uc704\uae30\uc758 \uac00\ub2a5\uc131\uc740 \uc5ec\uc804\ud788 \uc874\uc7ac\ud55c\ub2e4. \ub9ce\uc740 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \uc810\uc810 \ud558\ub77d\ud558\ub294 \ud22c\uc790\uc218\uc775\uc744 \ub354 \ub192\uc740 \uc5b8\ub354\ub77c\uc774\ud305 \ubc0f \uc218\uc218\ub8cc \ub9c8\uc9c4\uc73c\ub85c \ub300\uccb4\ud558\uba74\uc11c, \uc9c0\uc18d\uac00\ub2a5\ud560 \uc218 \uc5c6\uc744 \ub9cc\ud07c \ub192\uc740 \uc601\uc5c5 \ubc0f \uc720\ud1b5\ube44\uc6a9\uc744 \ub300\ud3ed \uac10\uc18c\ud560 \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n<blockquote><p>\ud3ec\uc2a4\ud2b8 \ucf54\ub85c\ub098 19 \uc0c1\ud669\uc5d0 \ub300\ud55c \uc911\uae30\uc801 \ubd88\ud655\uc2e4\uc131\uc73c\ub85c \uc778\ud574 \ub300\ubd80\ubd84\uc758 \uacbd\uc601\uc9c4\ub4e4\uc774 \uc774\uc804\uc5d0 \uacb0\ucf54 \uacbd\ud5d8\ud560 \ud544\uc694\uac00 \uc5c6\uc5c8\ub358 \ubd88\ud655\uc2e4\uc131\uc774 \uac00\uc911\ub41c\ub2e4.<\/p><\/blockquote>\n<p>\ud3ec\uc2a4\ud2b8 \ucf54\ub85c\ub098 19 \uc0c1\ud669\uc5d0 \ub300\ud55c \uc911\uae30\uc801 \ubd88\ud655\uc2e4\uc131\uc73c\ub85c \uc778\ud574 \ub300\ubd80\ubd84\uc758 \uacbd\uc601\uc9c4\ub4e4\uc774 \uc774\uc804\uc5d0 \uacb0\ucf54 \uacbd\ud5d8\ud560 \ud544\uc694\uac00 \uc5c6\uc5c8\ub358 \ubd88\ud655\uc2e4\uc131\uc774 \uac00\uc911\ub41c\ub2e4. \uc608\ub97c \ub4e4\uc5b4, \uc218\uc694 \ud68c\ubcf5\uc5d0\ub294 \uc5bc\ub9c8\ub098 \uac78\ub9b4 \uac83\uc778\uac00? \uc190\ud574\ubcf4\ud5d8 \uccad\uad6c\ub294 \uc5b4\ub5bb\uac8c \ubcc0\ud654\ud560 \uac83\uc778\uac00? \ubb3c\uac00 \uc0c1\uc2b9\uc758 \uc5ec\ud30c\ub85c \uc5bc\ub9c8\ub098 \ub9ce\uc740 \uae30\ud68c\uc790\ubcf8\uc774 \uc5c5\uacc4\uc5d0 \uc720\uc785\ub420 \uac83\uc778\uac00? \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ucc44\uad8c\uc218\uc775\uc774 \uc81c\ub85c\uc778 \uc138\uacc4\uc5d0\uc11c \uc5b4\ub5bb\uac8c \ub9e4\ub825\uc801\uc778 \uc0dd\uba85 \ubc0f \uc5f0\uae08 \uc0c1\ud488\uc744 \uac1c\ubc1c\ud560 \uc218 \uc788\uc744 \uac83\uc778\uac00?<\/p>\n<p>\uc5ec\uae30\uac00 \uac15\uc778\ud55c \uc790\ub4e4\uc774 \ub354\uc6b1 \uac15\ud574\uc9c0\ub294 \ub300\ubaa9\uc774\ub2e4. \uc704\ud5d8\ubd84\uc0b0(risk pooling)\uc744 \ud1b5\ud574 \ubcf4\ud5d8\uc740 \uacc4\uc18d\ud574\uc11c \uc911\uc694\ud55c \uacbd\uc81c\uc801 \uae30\ub2a5\uc744 \uc218\ud589\ud558\uace0 \uc788\uc9c0\ub9cc, \uace0\ub3c4\ub85c \uacbd\uc7c1\uc801\uc778 \uc2dc\uc7a5\uc5d0\uc11c \uac1c\ubcc4 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uace0\uac1d\uc744 \uc704\ud574 \uc0c8\ub85c\uc6b4 \uac00\uce58\uc81c\uc548\uc744 \ud601\uc2e0\ud558\uace0 \uac1c\ubc1c\ud574\uc57c \ud55c\ub2e4. \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \uae30\uc5c5\ub4e4\uc740 \uc774\uac83\uc774 \uc5ec\uc804\ud788 \uac00\ub2a5\ud568\uc744 \ubcf4\uc5ec\uc8fc\uace0 \uc788\ub2e4. \ub514\uc9c0\ud138 \uae30\uc220\uc744 \uc774\uc6a9\ud574 \uc5b8\ub354\ub77c\uc774\ud305, \ub9c8\ucf00\ud305, \uc720\ud1b5, \ubcf4\ud5d8\uae08 \uccad\uad6c \ub4f1 \ub2e4\uc591\ud55c \uc601\uc5ed\uc5d0\uc11c \uc0c8\ub85c\uc6b4 \uae30\ud68c\uac00 \uc0dd\uaca8\ub09c\ub2e4. \ub611\ub611\ud55c M&amp;A\ub97c \ud1b5\ud574 \ubcc0\ud654\ud558\ub294 \uc2dc\uc7a5\uc870\uac74\uc5d0 \ub530\ub77c \uc0ac\uc5c5 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c \uc7ac\uc870\uc815\ud558\uac70\ub098 \uac04\uc18c\ud654\ud560 \uc218\ub3c4 \uc788\ub2e4.<\/p>\n<p>\uc7ac\ubb34 \uad00\uc810\uc5d0\uc11c, RoTE\ub97c \uac1c\uc120\ud558\ub294 \uac83\uc740 \uc5ec\uc804\ud788 P\/TB \ubc30\uc218\uc758 \ud575\uc2ec\ub3d9\uc778\uc774\uba70 BCG\uc758 \uace0\uc720 RoTE \ubca4\uce58\ub9c8\ud0b9 \ud234\uc5d0 \uc758\ud558\uba74 \uc9c0\ub09c 5\ub144\uac04 RoTE \uc2e4\uc801\uc740 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 37.8%\uc5d0\uc11c \ucd5c\ud558 \uc0ac\ubd84\uc704 8.7%\uc5d0 \uc774\ub974\uae30\uae4c\uc9c0 \uadf8 \uaca9\ucc28\uac00 \uc5b4\ub9c8\uc5b4\ub9c8\ud558\ub2e4. \ub192\uc740 RoTE\ub294 \uc77c\ubc18\uc801\uc73c\ub85c \ub9e4\ub825\uc801\uc778 \uc5b8\ub354\ub77c\uc774\ud305 \ub9ac\uc2a4\ud06c \ud480\uc5d0 \ub300\ud574 \ucca0\uc800\ud788 \uacc4\ud68d\ub41c \uc790\ubcf8 \ubd84\ubc30\ub97c \ud568\uc73c\ub85c\uc368, \uc989 \ubcf4\uc0c1\uc774 \uc5c6\ub294 \uc790\uc0b0 \ub9ac\uc2a4\ud06c\uc5d0 \ub300\ud55c \ubc30\ubd84\uc744 \ucd5c\uc18c\ud654\ud558\uba74\uc11c (\uc77c\ubc18\uc801\uc73c\ub85c \uaddc\ubaa8\ub098 \uc2a4\ud0ac\uc744 \ud1b5\ud574) \uacbd\uc7c1\uc6b0\uc704\ub97c \uc218\ub9bd\ud568\uc73c\ub85c\uc368 \ub2ec\uc131\ub41c\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\uc5d0\uc11c\ub294 \ubcf4\ud5d8\uc5c5\uc758 \ucd5c\uadfc \uc8fc\uc8fc \uc218\uc775 \uc2e4\uc801, \ubcf4\ud5d8 TSR\uc5d0\uc11c RoTE\uc640 \uadf8 \ub3d9\uc778\uc758 \uc5ed\ud560, \ud604\uc7ac \ubc0f \uc911\uae30 \ud658\uacbd\uc5d0\uc11c \uc2e4\uc801 \uac1c\uc120\uc744 \uc704\ud55c \uae30\uc5c5\ub4e4\uc758 \uc120\ud0dd\ubc29\uc548\uc5d0 \ub300\ud574 \uc0b4\ud3b4\ubcf8\ub2e4.<\/p>\n<h3><strong>\ucf54\ub85c\ub098 19 \uc774\uc804: \uc6b0\uc218\uae30\uc5c5, \ubd80\uc9c4\uae30\uc5c5, \ud3c9\uade0\uae30\uc5c5<\/strong><\/h3>\n<p>\uae00\ub85c\ubc8c \ubcf4\ud5d8\uc0b0\uc5c5\uc758 TSR \uc2e4\uc801\uc740 \ucd5c\uadfc \uba87 \ub144 \uadf8\ub9ac\uace0 \ubcf4\ub2e4 \uc7a5\uae30\uc801\uc778 \uae30\uc900 \ubaa8\ub450\uc5d0\uc11c \ub531 \ud3c9\uade0\uc774\uc5c8\ub2e4. \uc21c\uc790\uc0b0 \uc131\uc7a5\uacfc P\/TB \ubc30\uc218\uc758 \uac1c\uc120\uc740 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \uac00\uce58\ucc3d\ucd9c\uc758 \uc8fc\uc694 \ub3d9\ub825\uc774\uc5c8\uc73c\uba70, \uc7ac\ubcf4\uc0ac\ub4e4\uc774 \uc9c0\ub09c 5\ub144\uac04 \ub2e4\ub978 \ubd80\ubb38\ub4e4\ubcf4\ub2e4 6.4%\ud3ec\uc778\ud2b8 \ub192\uc740 \uc2e4\uc801\uc744 \ubcf4\uc778 \uac83\uc740 \uc7ac\ubcf4\ud5d8 \uc694\uc728\uc0b0\uc815 \uc8fc\uae30 \uc804\ud658 \uc774\ud6c4 \ubc30\uc218\uc758 \uac15\ub825\ud55c \uc0c1\uc2b9 \ub355\ubd84\uc774\uc5c8\ub2e4. \uc774\uc640\ub294 \ub300\uc870\uc801\uc73c\ub85c, \uc0dd\uba85\ubcf4\ud5d8\ubd80\ubb38\uc740 \ud22c\uc790\uc790\ub4e4\uc774 \uc0dd\uba85\ubcf4\ud5d8\uc758 \uc8fc\uc694 \uc218\uc775\uc6d0\uc778 \ud22c\uc790 \uc2a4\ud504\ub808\ub4dc \ucd95\uc18c\ub97c \uc6b0\ub824\ud558\uba74\uc11c P\/TB \ubc30\uc218\uac00 7\ud3ec\uc778\ud2b8 \ud558\ub77d\ud588\ub2e4. (\u2018\ubcf4\ud5d8\uc758 TSR\u2019 \ucc38\uc870.)<\/p>\n<hr \/>\n<h4><strong>\ubcf4\ud5d8\uc758 TSR<\/strong><\/h4>\n<p>\uc7a5\uae30\uc801\uc73c\ub85c, TSR\ub85c \uce21\uc815\ub418\ub294 \uac00\uce58\ucc3d\ucd9c\uc740 \ubaa8\ub4e0 \uc0c1\uc7a5 \uae30\uc5c5\uc5d0 \uc788\uc5b4 \uc9c4\uc815\ud55c \uc758\ubbf8\uc758 \uc218\uc775\uc774\ub2e4. \uc8fc\uc8fc \uad00\uc810\uc5d0\uc11c, TSR\uc740 \uc27d\uac8c \uce21\uc815(\uc77c\uc815 \uae30\uac04\ub3d9\uc548 \ud68c\uc0ac \uc8fc\uc2dd\uc5d0 \ub300\ud55c \uc8fc\uac00\uc0c1\uc2b9\ubd84 \ubc0f \ubc30\ub2f9\uae08\uc218\uc775\uc758 \uc870\ud569)\ub418\uace0 \ubca4\uce58\ub9c8\ud0b9\ub41c\ub2e4. \ud558\uc9c0\ub9cc, \uc815\uc791 \uc6b4\uc601 \uad00\ub9ac\uc790\ub4e4\uc740 \uc5b4\ub5bb\uac8cTSR\uc744 \ucc3d\ucd9c\ud560 \uac83\uc778\uac00? \uc5ec\uae30\uac00 \ubc14\ub85c \uc911\uc694 TSR \ub3d9\uc778\ub4e4\uc758 \ubd84\uc11d\uc774 \ud544\uc694\ud55c \ubd80\ubd84\uc774\ub2e4.<\/p>\n<p>\ubcf4\ud5d8\uc5d0\uc11c, TSR\uc740 \uc138 \uc694\uc18c\ub85c \ub098\ub220\uc9c4\ub2e4. \uc21c\uc790\uc0b0 \uc131\uc7a5, P\/TB \ubc30\uc218 \ubcc0\ub3d9, \ud604\uae08\ud750\ub984\uc744 \ud1b5\ud55c \uae30\uc5ec\ubd84(\ubc30\ub2f9\uae08 \uc218\uc775\uacfc \uc8fc\uc2dd\ud658\ub9e4\ub85c \uc774\ub8e8\uc5b4\uc9c4)\uc774\ub2e4. \uc7a5\uae30\uc801\uc73c\ub85c \uc21c\uc790\uc0b0\uc131\uc7a5\uacfc \ud604\uae08\ud750\ub984\uc740 TSR\uc758 \uc8fc\uc694 \uae30\uc5ec\uc694\uc778\uc774\uc9c0\ub9cc, \uc911\ub2e8\uae30\uc801\uc73c\ub85c\ub294, P\/TB \ubc30\uc218 \ubcc0\ub3d9\uc774 \ud6e8\uc52c \ub354 \uc911\uc694\ud558\ub2e4. (\uc544\ub798 \ud45c \ucc38\uc870.) \uacbd\uc601\uc9c4\uc5d0\uac8c \uac00\uc7a5 \uc911\uc694\ud55c \uacfc\uc81c\ub294 \uc21c\uc790\uc0b0\uc99d\uac00, \uc789\uc5ec\ud604\uae08\ud750\ub984 \ud65c\uc6a9, \uac00\uce58\ud3c9\uac00 \ubc30\uc218(valuation multiple) \uc0c1\uc2b9\uc774\ub098 \uc720\uc9c0 \uc0ac\uc774\uc758 \uc801\uc808\ud55c \ud2b8\ub808\uc774\ub4dc\uc624\ud504\ub97c \ucc3e\ub294 \uac83\uc774\ub2e4. BCG\uc758 TSR \ubc29\ubc95\ub860\uc744 \uae30\ubc18\uc73c\ub85c \ud55c \uc815\ubcf4\ub294 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \ud2b8\ub808\uc774\ub4dc\uc624\ud504\ub97c \uc2dc\ubbac\ub808\uc774\uc158\ud558\uace0 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uc911\uc810\uc0ac\ud56d, \uc790\ubcf8\ubc30\ubd84, \uc0ac\uc5c5\ubd80\ubb38 \uc7ac\ubb34\ubaa9\ud45c \ub4f1\uc758 \uc694\uc18c\uc5d0 \uad00\ub828\ud55c \uacb0\uc815\uc744 \ub0b4\ub9ac\ub294 \ub370 \uc720\uc6a9\ud558\uac8c \uc0ac\uc6a9\ub41c\ub2e4.<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2643\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new.png\" alt=\"\" width=\"944\" height=\"818\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new.png 944w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new-300x260.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new-768x665.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new-696x603.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new-485x420.png 485w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_0_new-534x462.png 534w\" sizes=\"auto, (max-width: 944px) 100vw, 944px\" \/><\/a><\/p>\n<p>\uc801\uc808\ud55c \ud2b8\ub808\uc774\ub4dc\uc624\ud504\ub97c \ud558\uae30 \uc704\ud574\uc11c\ub294 \uc21c\uc790\uc0b0\uacfc \uc789\uc5ec\ud604\uae08\ud750\ub984 \ubfd0 \uc544\ub2c8\ub77c \uac00\uce58\ud3c9\uac00 \ubc30\uc218\uc640 \uad00\ub828\ud55c \uc804\ub7b5\uc801 \uc6b4\uc601\uc0c1\uc758 \uacb0\uc815\uc774 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \uc815\ud655\ud788 \ud3c9\uac00\ud560 \ud544\uc694\uac00 \uc788\ub2e4. BCG\uc758 \uc2a4\ub9c8\ud2b8 \uba40\ud2f0\ud50c(Smart Multiple) \ubc29\ubc95\ub860\uc740 \ud68c\uadc0\ubd84\uc11d\uc744 \uc774\uc6a9\ud574 \ubc30\uc218\uc758 \ucc28\uc774\ub97c \uacc4\uc0b0\ud55c\ub2e4. \ubcf4\ud5d8\uc5d0\uc11c, \ud55c \ud68c\uc0ac\uc758 P\/TB \ubc30\uc218\uac00 \ub3d9\uc885\uae30\uc5c5\ub4e4\uc5d0 \ube44\ud574 80% \uc774\uc0c1 \ucc28\uc774\ub098\ub294 \uac83\uc740 \uc218\uc775\uc131 \uc9c0\ud45c(RoTE, \ubc30\ub2f9\uae08\uc9c0\uae09), \uc7ac\ubb34\uc81c\ud45c \uac74\uc804\uc131(\uc790\ubcf8 \ub300\ube44 \ubd80\ucc44 \ube44\uc728), \ubbf8\ub798 \uc131\uc7a5 \uae30\ub300\uce58, \uc0ac\uc5c5\ubd80\ubb38 \uad6c\uc131 \ub4f1 \uae30\ubcf8\uc694\uc18c\ub4e4\uc5d0 \uc758\ud574 \uc124\uba85\ub420 \uc218 \uc788\ub2e4. BCG\ub294 \ubcf4\ud5d8\uc0ac\uc758 \uc8fc\uc8fc\uac00\uce58\ucc3d\ucd9c \uac1c\uc120 \uacc4\ud68d\uc744 \uc9c0\uc6d0\ud560 \ub54c, \uadfc\ubcf8\uc801\uc778 TSR \uc694\uc778\ub4e4(\uc21c\uc790\uc0b0 \uc131\uc7a5, \uc789\uc5ec\ud604\uae08\ud750\ub984 \ub4f1)\uc758 \ud2b8\ub808\uc774\ub4dc\uc624\ud504\uc640 \uac01\uac01\uc758 \uc694\uc778\ub4e4\uc774 \uace0\uac1d\uc0ac \uac00\uce58\ud3c9\uac00 \ubc30\uc218\uc5d0 \ubbf8\uce60 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\ub294 \uc601\ud5a5\ub4e4\uc744 \ubc14\ud0d5\uc73c\ub85c \uacc4\ud68d\uc744 \uc218\ub9bd\ud558\uace0, \ub3d9\uc2dc\uc5d0 \ub9ac\uc2a4\ud06c\uc640 \uc7a5\uae30 \uc804\ub7b5\uc0c1\uc758 \uc2dc\uc0ac\uc810\uc744 \uace0\ub824\ud55c\ub2e4.<\/p>\n<hr \/>\n<p>\ucd5c\uace0 \uc2e4\uc801 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ub3d9\uc885\uae30\uc5c5\ub4e4\uacfc \ud0c0\uc0b0\uc5c5 \uae30\uc5c5\ub4e4 \ubaa8\ub450\uc5d0 \ube44\ud574 \ud6e8\uc52c \ub354 \uc88b\uc740 \uc2e4\uc801\uc73c\ub85c \ud22c\uc790\uc790\ub4e4\uc5d0\uac8c \ubcf4\ub2f5\ud574 \uc654\ub294\ub370 \uc774\ub294 BCG\uc758 \uadfc\ubcf8 \ucca0\ud559 \uc911 \ud558\ub098\uc778 \ubaa8\ub4e0 \uae30\uc5c5\uc740 \uac00\uce58\ucc3d\ucd9c \ubc29\ubc95\uc744 \ucc3e\uc544\ub0bc \uc218 \uc788\ub2e4\ub294 \uad50\ud6c8\uc744 \ub2e4\uc2dc \ud55c \ubc88 \uac15\uc870\ud574 \uc900\ub2e4. \uac8c\ub2e4\uac00, \uc774 \uc6b0\uc218\ud55c \uc2e4\uc801\uc740 \ud2b9\uc815 \uc9c0\uc5ed\uacfc \ubd80\ubb38\uc5d0 \uad6d\ud55c\ub418\ub294 \uac83\uc774 \uc544\ub2c8\ub2e4. 2019\ub144\uae4c\uc9c0 5\ub144 \ub3d9\uc548\uc758 \uc0c1\uc704 5\ub300 \uae30\uc5c5\uc740 \uc220 \uc544\uba54\ub9ac\uce74(Sul Am\u00e9rica)(\ube0c\ub77c\uc9c8, \uac74\uac15\ubcf4\ud5d8 \ubc0f \uc190\ud574\ubcf4\ud5d8 \uc8fc\ub825, \uc5f0\uac04 TSR 43.6%), \ud504\ub85c\uadf8\ub808\uc2dc\ube0c(Progressive)(\ubbf8\uad6d, \uc190\ud574\ubcf4\ud5d8, 25.2%), \ud3c9\uc548\ubcf4\ud5d8(Ping An)(\uc911\uad6d, multiline, 23.5%), \ud558\ub178\ubc84 \uc7ac\ubcf4\ud5d8(Hannover R\u00fcck)(\ub3c5\uc77c, \uc7ac\ubcf4\ud5d8, 23.5%), \ud3ec\ub974\ud1a0\uc138\uad6c\ub85c(Porto Seguro)(\ube0c\ub77c\uc9c8, \uac74\uac15\ubcf4\ud5d8 \ubc0f \uc190\ud574\ubcf4\ud5d8 \uc8fc\ub825, 21.9%)\uc774\ub2e4.<\/p>\n<p>\ub3d9\uc2dc\uc5d0, \ud45c\ubcf8\uae30\uc5c5\ub4e4 \uc911 3\ubd84\uc758 1 \uc774\uc0c1\uc758 \uc5f0\uac04 RoE\ub294 9% \ubbf8\ub9cc\uc5d0 \ubd88\uacfc\ud558\uba70, \uc774\ub294 \uc190\ud574\ubcf4\ud5d8 9%\uc5d0\uc11c \uac74\uac15\ubcf4\ud5d8 11%\uc758 \ubc94\uc704\uc778 \uc774 \uadf8\ub8f9\uc758 CoE\ubcf4\ub2e4 \ub0ae\uc740 \uc218\uc900\uc73c\ub85c \uac00\uce58\ub97c \uc0c1\ub2f9\ubd80\ubd84 \uac09\uc544\uba39\uace0 \uc788\ub2e4. \ub610\ud55c, \uc720\ub7fd\uc758 5\ub300 \ub2e4\uad6d\uc801 \uba40\ud2f0\ub77c\uc778(multiline) \ubcf4\ud5d8\ub300\uae30\uc5c5 \uc911 2\uac1c \uae30\uc5c5\uc774 5\ub144 TSR \uae30\uc900 MSCI \uc720\ub7fd\ubcf4\ud5d8\uc9c0\uc218(Europe Insurance Index)\ubcf4\ub2e4 \uc800\uc870\ud55c \uc2e4\uc801\uc744, 10\ub144 TSR \uae30\uc900\uc73c\ub85c\ub294 4\uac1c \uae30\uc5c5, 15\ub144 \uae30\uc900\uc73c\ub85c\ub294 3\uac1c \uae30\uc5c5\uc774 \uc800\uc870\ud55c \uc2e4\uc801\uc744 \ubcf4\uc600\ub2e4.<\/p>\n<h3><strong>\ucf54\ub85c\ub09819 \uc774\ud6c4: \uc0c1\ud669\uc740 \ub354\uc6b1 \uc5b4\ub824\uc6cc\uc9c4\ub2e4<\/strong><\/h3>\n<p>2020\ub144 \ucd08 \uc774\ud6c4, \ubcf4\ud5d8\uc0ac\uc758 TSR \uc2e4\uc801\uc740 2008\ub144 \uc138\uacc4\uae08\uc735\uc704\uae30 \ucd08\ubc18 \uba87 \uac1c\uc6d4\uacfc \ube44\uc2b7\ud55c \uc218\uc900\uc774\uc5c8\ub2e4. 2009\ub144 1\uc6d4\ubd80\ud130 6\uc6d4\uae4c\uc9c0, \ubcf4\ud5d8\uc2dc\uc7a5\uc740 \ub354 \ud070 \uc2dc\uc7a5(\uac01\uac01MSCI \uc138\uacc4 \ubcf4\ud5d8\uc9c0\uc218(World Insurance Index)\uc640 MSCI \uc138\uacc4\uc9c0\uc218(AC World Index)\ub85c \uac01\uac01 \ub300\ud45c\ub418\ub294)\uc5d0 \ube44\ud574 16% \ud3ec\uc778\ud2b8 \ubd80\uc9c4\ud588\ub2e4. 2020\ub144 \uac19\uc740 \uae30\uac04\ub3d9\uc548, \ubcf4\ud5d8\uc5c5\uc740 12% \ud3ec\uc778\ud2b8 \ub4a4\uccd0\uc84c\ub2e4. 2020\ub144 6\uc6d4 11\uc77c \uae30\uc900\uc73c\ub85c, \ubcf4\ud5d8\uc0b0\uc5c5\uc740 S&amp;P \uae00\ub85c\ubc8c1200 \uc9c0\uc218\uac00 \ub2e8\uc9c0 9% \ud558\ub77d\ud55c \uac83\uc5d0 \ube44\ud574 21% \ud558\ub77d\ud588\uc73c\uba70, \uc774 \uaca9\ucc28\ub294 \uc704\uae30\uac00 \uc9c4\ud589\ub418\uba74\uc11c \ub354\uc6b1 \ucee4\uc9c0\uace0 \uc788\ub2e4. \ubcf4\ud5d8\uc740 \ud638\ud154 \ubc0f \ub808\uc800, \uc740\ud589, \uc5d0\ub108\uc9c0 \uc0b0\uc5c5\uc758 \ub4a4\ub97c \uc774\uc5b4 \ub124 \ubc88\uc9f8\ub85c \ubd80\uc2e4\ud55c \uc2e4\uc801\uc744 \ubcf4\uc774\ub294 \ubd80\ubb38\uc774\ub2e4.<\/p>\n<blockquote><p>\uae30\uc5c5\ubcf4\ud5d8 \ubd80\ubb38\uc758 \ucd5c\uc885 \u2019\uc601\uc218\uc99d\u2019 \uaddc\ubaa8\uc5d0 \ub300\ud55c \ubd88\ud655\uc2e4\uc131\uc740 \ud22c\uc790\uc790\ub4e4\uc758 \uc6b0\ub824\ub97c \uac00\uc911\uc2dc\ud0a8\ub2e4.<\/p><\/blockquote>\n<p>\ubcf4\ud5d8\uc5c5\uc758 \ubaa8\ub450 \ud558\uc704\ubd80\ubb38\uc740 3\uc6d4 \ub9d0 \uc800\uc810 \uc774\ud6c4 \uc644\ub9cc\ud788 \ubc18\ub4f1\ud588\uc73c\uba70 \uadf8 \uc911 \uc190\ud574\ubcf4\ud5d8\uc740 \ub2e4\ub978 \ubd80\ubb38\ub4e4\uc5d0 \ube44\ud574 \uc57d\uac04 \ub354 \uc88b\uc740 \uc2e4\uc801\uc744 \ubcf4\uc774\uace0 \uc788\ub2e4. \uc774 \uae30\uc5c5\ub4e4\uc758 \uc8fc\uac00\ub294 1\uc6d4 \uc218\uc900\uc744 \uac70\uc758 \ud68c\ubcf5\ud588\ub294\ub370 \ubcf4\ud5d8\uae08 \uccad\uad6c \uac74\uc218 \uac10\uc18c(\ud55c \uc608\ub85c, \uc790\ub3d9\ucc28 \ubcf4\ud5d8\uae08\uccad\uad6c\ub294 \ubd09\uc1c4 \uc774\ud6c4 25%-30% \uac10\uc18c\ud568)\uac00 \uc218\uc694 \ubc0f \ud22c\uc790\uc218\uc775 \uac10\uc18c\ub97c \ub2a5\uac00\ud55c \ub355\ubd84\uc774\uc5c8\ub2e4. \uc9c0\uc5ed\uc801\uc73c\ub85c\ub294, \ubbf8\ub300\ub959\uc774 \uc8fc\uac00 26% \ud558\ub77d\uc73c\ub85c \uac00\uc7a5 \ud070 \ud0c0\uaca9\uc744 \uc785\uc5c8\uace0, \uc544\ud0dc\uc9c0\uc5ed\uc774 16% \ud558\ub77d\uc73c\ub85c \ud0c0\uaca9\uc774 \uac00\uc7a5 \uc57d\ud588\ub2e4. \uc5c5\uacc4 \uc804\ubc18\uc5d0 \uac78\uccd0, \ucf54\ub85c\ub098 19\ub294 \uc790\uc0b0\ubd80\ubb38\uc5d0 \uac00\uc7a5 \ud070 \uc601\ud5a5\uc744 \ubbf8\ucce4\uc73c\uba70, \uc790\uc0b0 \uc5d0\ubc84\ub9ac\uc9c0\uac00 \ud06c\uace0 \uc0c1\ud488\uc758 \uc790\uc0b0 \uc758\uc874\ub3c4\uac00 \ub192\uc744\uc218\ub85d \uadf8 \uc601\ud5a5\uc740 \ub354 \ucef8\ub2e4. \uae30\uc5c5\ubcf4\ud5d8 \ubd80\ubb38\uc758 \ucd5c\uc885\u2019\uc601\uc218\uc99d\u2019 \uaddc\ubaa8\uc5d0 \ub300\ud55c \ubd88\ud655\uc2e4\uc131\uc740 \ud22c\uc790\uc790\ub4e4\uc758 \uc6b0\ub824\ub97c \uac00\uc911\uc2dc\ud0a8\ub2e4. \ubcf4\ud5d8\ubd80\ubb38\uc758 \uc800\uc870\ud55c \uc131\uacfc\ub294 3\uc6d4\uacfc 6\uc6d4\uc0ac\uc774\uc5d0 \ub354\uc6b1 \ucee4\uc9c0\uba74\uc11c \ud22c\uc790\uc790\ub4e4\uc774 \uae08\ub9ac\uc778\ud558\uc640 \uc218\uc694\uac10\uc18c\uac00 \ubcf4\ud5d8\uc0ac\uc5d0 \ub354 \ud070 \ubd80\uc815\uc801\uc778 \uc5ec\ud30c\ub97c \ubbf8\uce60 \uac83\uc73c\ub85c \uc608\uc0c1\ud568\uc744 \uc2dc\uc0ac\ud588\ub2e4.<\/p>\n<h3><strong>\ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc5b4\ub5bb\uac8c \uc131\uc7a5\uacfc \uac00\uce58\ub97c \uc2e4\ud604\ud560 \uc218 \uc788\uc744 \uac83\uc778\uac00<\/strong><\/h3>\n<p>\ucf54\ub85c\ub098 19\uc774\ud6c4\uc758 \uc5ec\ud30c\ub294 \ubbf8\uc9c0\uc758 \uc601\uc5ed\uc774\uc9c0\ub9cc \uc801\uc5b4\ub3c4 \uba87 \uac00\uc9c0\ub294 \ud655\uc2e4\ud788\ub2e4. \ubb34\uc5c7\ubcf4\ub2e4\ub3c4, TSR\uc740 \ubcf4\ud5d8\uc0ac \uacbd\uc601\uc9c4\uc5d0\uac8c \uac15\ub825\ud55c \uc9c0\uce68\uc774 \ub418\ub294 \uc9c0\ud45c\uc774\ub2e4. \uc0c8\ub85c\uc6b4 \ud604\uc2e4\uc5d0\uc11c \uc2b9\ub9ac\ud558\ub294 \uae30\uc5c5\ub4e4\uc740 \uae30\ud68d, KPI, \uc778\uc13c\ud2f0\ube0c\ub97c \uc9c0\uc18d\uc801\uc778 TSR \ubc0f \ucd1d \uc0ac\ud68c\uc801 \uc601\ud5a5(TSI)\uc2e4\ud604\uacfc \uc5f0\uacb0\uc2dc\ud0a4\ub294 \uc774\ub4e4\uc77c \uac83\uc774\ub2e4. \uacbd\uc601\uc9c4\uacfc \uc870\uc9c1 \uc804\uccb4\ub294 \uc8fc\uc8fc\uac00\uce58\ub97c \uc911\uc2dc\ud558\ub294 \ub9c8\uc74c\uac00\uc9d0\uacfc \uaddc\uce59\uc744 \uac16\ucd94\uace0 \uc788\uc5b4\uc57c \ud55c\ub2e4. \uc989, TSR\uc744 \ucd5c\uc6b0\uc120\uc73c\ub85c \ub450\uace0, \ubaa9\ud45c, \uc555\ubc15 \ud14c\uc2a4\ud2b8 \uacc4\ud68d \ubc0f \uc774\ub2c8\uc154\ud2f0\ube0c\ub97c \uc124\uc815\ud558\uba70 \uc790\uc6d0\uc744 \ubc30\ubd84\ud558\uace0 TSR \ubc0f TSI \uae30\uc900\uc73c\ub85c \uc2e4\uc801\uc744 \ucd94\uc801\ud558\ub294 \uac83\uc774\ub2e4.<\/p>\n<p>\ud22c\uc790\uc218\uc775 \uc804\ub9dd\uc774 \uc554\uc6b8\ud55c \uac00\uc6b4\ub370, \uc5b8\ub354\ub77c\uc774\ud305 \ubc0f \uc218\uc218\ub8cc \ube44\uc988\ub2c8\uc2a4\uc758 \uc218\uc775\uc131 \uc131\uc7a5\uc758 \uc911\uc694\uc131\uc774 \ub354\uc6b1 \ucee4\uc84c\uc73c\uba70, \uc218\uc775\uc131 \uc788\ub294 \uc131\uc7a5\uc740 CoE\ub97c \ucd08\uacfc\ud558\ub294 RoTE \uc5d0 \ub2ec\ub824 \uc788\ub2e4. \ub610\ud55c \uc131\uc7a5\uc774 \uac00\ub2a5\ud558\ub2e4 \ud574\ub3c4, \uc774\ub97c \uc704\ud574\uc11c\ub294 \ub9ce\uc740 \uae30\uc5c5\ub4e4\uc774 \uc0ac\uc5c5 \ub77c\uc778\ubcc4 \uc804\ub9dd\uc744 \uc7ac\ud3c9\uac00\ud558\uace0 \uc6b4\uc601\uc744 \ud601\uc2e0\ud574 \uc804\uccb4 \uac00\uce58\uc0ac\uc2ac\uc5d0 \ub300\ud55c \ucca8\ub2e8\uae30\uc220 \ubc0f \uc0c8\ub85c\uc6b4 \uc5c5\ubb34\ubc29\uc2dd\uc758 \uc7a5\uc810\uc774 \ucd5c\ub300\ud55c \ubc1c\ud718\ub420 \uc218 \uc788\ub3c4\ub85d \ud574\uc57c \ud55c\ub2e4. \ubcf4\ud5d8\uc740 \uc8fc\uae30\uc801\uc778 \ube44\uc988\ub2c8\uc2a4\uc774\ubbc0\ub85c \uc911\uae30 \ubc0f \uc7a5\uae30\uc801 \uad00\uc810\uc5d0\uc11c TSR\uc744 \uac80\ud1a0\ud560 \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n<p>\uc911\uae30\uc801\uc73c\ub85c-\uc9c0\ub09c 5\ub144 \ub3d9\uc548- \uc21c\uc790\uc0b0 \uc131\uc7a5\uc740 TSR \uc131\uc7a5\uc758 \uc8fc\uc694 \ub3d9\uc778\uc774\uc5c8\ub2e4. \uc6b0\ub9ac \ud45c\ubcf8 \uc911 \ud3c9\uade0 \ubcf4\ud5d8\uc0ac\uac00 \ub2ec\uc131\ud55c TSR 8.2 % \ud3ec\uc778\ud2b8 \uc911 5.5\ud3ec\uc778\ud2b8\ub294 \uc21c\uc790\uc0b0\uc5d0\uc11c, 4.6\ud3ec\uc778\ud2b8\ub294 \ud604\uae08\ud750\ub984 \uae30\uc5ec\ubd84\uc73c\ub85c \uc778\ud55c \uac83\uc774\uc5c8\ub2e4. \uc5ec\uae30\uc11c \ubc30\uc218 \ubcc0\ud654\ub85c \uc778\ud574 1.9\ud3ec\uc778\ud2b8\uac00 \ucc28\uac10\ub410\ub2e4. \ud558\uc9c0\ub9cc \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \uae30\uc5c5\ub4e4\uc5d0\uc11c\ub294, \ucd1d\uc5f0\uac04 TSR\uc758 20\ud3ec\uc778\ud2b8 \uc911 13.4\ud3ec\uc778\ud2b8\uac00 \uc21c\uc790\uc0b0 \uc99d\uac00 \ub355\ubd84\uc774\uc5c8\ub2e4. \ud604\uae08\ud750\ub984\uacfc \ubc30\uc218\ub294 \uac01\uac01 2\ud3ec\uc778\ud2b8\uc640 4.6\ud3ec\uc778\ud2b8 \uae30\uc5ec\ud588\uc73c\uba70 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704\uc758 \ud604\uae08 \uc218\uc775\ub960\uc740 \ubd80\ubb38\ud3c9\uade0\uc744 2.6\ud3ec\uc778\ud2b8 \ubc11\ub3c4\ub294 \uc218\uc900\uc774\uc5c8\ub2e4. \ud604\uae08 \uc218\uc775\uc740 \uc8fc\ub85c \ud3c9\uade0 \uc2e4\uc801 \uae30\uc5c5\ub4e4\uc5d0\uac8c \uc911\uc694\ud55c TSR \ub3d9\uc778\uc774\ub2e4. (\ubcf4\uae30 1 \ucc38\uc870.)<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2645\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new.png\" alt=\"\" width=\"1305\" height=\"818\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new.png 1305w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-300x188.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-1024x642.png 1024w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-768x481.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-696x436.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-1068x669.png 1068w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_1_new-670x420.png 670w\" sizes=\"auto, (max-width: 1305px) 100vw, 1305px\" \/><\/a><\/p>\n<p>\uc9c0\uc5ed\ubcc4\ub85c \uc0c1\ub2f9\ud55c \uaca9\ucc28\uac00 \uc788\uc5c8\ub2e4. \ubbf8\ub300\ub959\uc5d0\uc11c\ub294, \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704\uac00 21.0% \uc2e4\uc801\uc744 \ubcf4\uc600\ub294\ub370, \uc8fc\ub85c \uc21c\uc790\uc0b0\uc131\uc7a5(8.9\ud3ec\uc778\ud2b8) \ubc0f \ubc30\uc218 \uac1c\uc120(8.8\ud3ec\uc778\ud2b8) \ub85c \uc778\ud55c \uac83\uc774\uc5c8\ub2e4. \uc544\ud0dc\uc9c0\uc5ed\uc5d0\uc11c\ub294 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704\uac00 18.9%\uc758 TSR\uc744 \ub2ec\uc131\ud588\ub294\ub370 \ub300\ubd80\ubd84 \uc21c\uc790\uc0b0\uc774 14.4\ud3ec\uc778\ud2b8\uc758 \uac15\ub825\ud55c \uc131\uc7a5\uc744 \ubcf4\uc778 \ub355\ubd84\uc774\uc5c8\uace0, \uc720\ub7fd\uc5d0\uc11c\ub294 \uc5ec\ub7ec \ub3d9\uc778\ub4e4\uc774 \ubcf4\ub2e4 \uade0\ud615\uc788\uac8c \uae30\uc5ec\ud558\uba74\uc11c \uc9c0\uc5ed\ubcc4\ub85c\ub294 \uac00\uc7a5 \ub0ae\uc74015.9%\uc758 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 TSR \uc2e4\uc801\uc744 \uae30\ub85d\ud588\ub2e4.<\/p>\n<p>\uc7a5\uae30\uc801(10\ub144 \uae30\uc900)\uc73c\ub85c, \uc21c\uc790\uc0b0 \uc131\uc7a5\uc740 \ucd5c\uace0\uc2e4\uc801 \uae30\uc5c5\ub4e4\uc758 \ucc28\ubcc4\ud654\ub41c \ub3d9\uc778\uc73c\ub85c \ucd5c\uc0c1\uc704 TSR \uc2e4\uc801\uc758 \uac70\uc758 80%\ub97c \ucc28\uc9c0\ud588\ub2e4. (\ubcf4\uae30 2 \ucc38\uc870.) \ubc30\uc218\ub294 \uc694\uc778\uc774 \uc544\ub2c8\uba70, \ub180\ub784 \uac83\ub3c4 \uc544\ub2cc \uac83\uc774 \uc8fc\uae30\uc131(cyclicality)\uc740 \uc2dc\uac04\uc774 \uacbd\uacfc\ud558\uba74\uc11c \uc601\ud5a5\uc774 \uc791\uc544\uc9c0\uae30 \ub54c\ubb38\uc774\ub2e4.<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2646\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new.png\" alt=\"\" width=\"1024\" height=\"818\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new.png 1024w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new-300x240.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new-768x614.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new-696x556.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_2_new-526x420.png 526w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<h3><strong>RoE(\uc790\uae30\uc790\ubcf8\uc774\uc775\ub960)\ub294 \ubc30\uc218\uc0c1\uc2b9\uc694\uc778\uc774\uba70 \uc21c\uc790\uc0b0\uc131\uc7a5\uc744 \uac00\ub2a5\ud558\uac8c \ud55c\ub2e4<\/strong><\/h3>\n<p>BCG\uc758 \uac00\uc7a5 \ucd5c\uadfc \uc5f0\uad6c\uc870\uc0ac\uc5d0 \ub530\ub974\uba74 RoE\uc640 \uc8fc\ub2f9\uc21c\uc790\uc0b0(\ubc30\ub2f9\uae08 \ub2e4\uc2dc \ucd94\uac00 \ud6c4)\uc0ac\uc774\uc5d0 \uac15\ub825\ud55c \uc0c1\uad00\uad00\uacc4\uac00 \ud655\uc778\ub418\uba70, \ubcf4\ud5d8\uc758 \uc790\ubcf8\uc9d1\uc57d\uc801 \uc0ac\uc5c5 \ub77c\uc778\uc758 \uc0dd\uc0b0\uc131\uacfc \uc790\ubcf8\uc774 \ubd80\uc871\ud55c \uc218\uc218\ub8cc \uc0ac\uc5c5\uc758 \uc131\uc7a5\uc774 \ubaa8\ub450 \uc911\uc694\ud568\uc744 \ub2e4\uc2dc \ud55c\ubc88 \uac15\uc870\ud574\uc900\ub2e4. (\ubcf4\uae30 3 \ucc38\uc870.)<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2647\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new.png\" alt=\"\" width=\"1358\" height=\"818\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new.png 1358w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-300x181.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-1024x617.png 1024w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-768x463.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-696x419.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-1068x643.png 1068w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_3_new-697x420.png 697w\" sizes=\"auto, (max-width: 1358px) 100vw, 1358px\" \/><\/a><\/p>\n<p>2015\ub144\ubd80\ud130 2019\ub144\uae4c\uc9c0 \uc911\uac04 RoE 10.2%\ub97c \uae30\ub85d\ud558\uba74\uc11c, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc2dc\uc7a5\ub0b4\uc7ac CoE(\uc0ac\uc5c5\ub77c\uc778 \uad6c\uc131\uc5d0 \ub530\ub77c, \uc57d 9%\uc5d0\uc11c 11%)\ub97c \uaca8\uc6b0 \ucee4\ubc84\ud588\ub2e4. \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \uae30\uc5c5\ub4e4\uc740 \uc0c1\ub2f9\ud55c \uac00\uce58\ub97c \ucc3d\ucd9c\ud588\ub294\ub370(\ucd5c\uc18c 13% RoE) \uc18c\uc218\uc758 \uc2dc\uc7a5\uc5d0\uc11c \uac1c\ubcc4 \ud575\uc2ec \ube44\uc988\ub2c8\uc2a4 \uc138\uadf8\uba3c\ud2b8\uc5d0 \uc9d1\uc911\ud55c \ucc28\ubcc4\ud654\ub41c \ube44\uc988\ub2c8\uc2a4 \ubaa8\ub378 \ub355\ubd84\uc774\uc5c8\ub2e4. BCG \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 \uc9d1\uc911\uc804\ub7b5\uc774 \ub2e4\uac01\ud654\ubcf4\ub2e4 \uc131\uacfc\uac00 \uc88b\uc558\ub2e4.<\/p>\n<p>\uc774\uc640\ub294 \ub300\uc870\uc801\uc73c\ub85c, \ud558\uc704 40%\uc758 \uae30\uc5c5\ub4e4\uc740 9% \uc774\ud558\uc758 RoE\ub97c \uae30\ub85d\ud558\uba70 \uac00\uce58\ucc3d\ucd9c\uc5d0 \uc2e4\ud328\ud588\ub2e4. \uac70\uc758 \uc0dd\uba85\ubcf4\ud5d8\uacfc \uc7ac\ubcf4\uc0ac\ub4e4\ub85c \uc774\ub8e8\uc5b4\uc9c4 \uc774 \uadf8\ub8f9\uc740 \ud22c\uc790\uc2a4\ud504\ub808\ub4dc \uac10\uc18c \ubc0f \ub300\uaddc\ubaa8 \uc7ac\ub09c\uc73c\ub85c \uc778\ud55c \ub300\ud615\uc190\uc2e4\ub85c \uc5b4\ub824\uc6c0\uc744 \uacaa\uc5c8\ub2e4. RoE\uac00 \uc2dc\uc7a5\ub0b4\uc7ac CoE\uc5d0 \uadfc\uc811\ud558\uac70\ub098 \uadf8 \ubbf8\ub9cc\uc778 \ubcf4\ud5d8\uc0ac 75%\uc5d0\uac8c, \uc790\ubcf8 \uc0dd\uc0b0\uc131 \uac1c\uc120\uc774 \uc131\uc7a5\ubcf4\ub2e4 \uc6b0\uc120\uc2dc\ub41c\ub2e4.<\/p>\n<p>\ucf54\ub85c\ub098 19 \uc0ac\ud0dc \uc774\ud6c4, \uc6b0\ub9ac\ub294 \uc8fc\uc694 \uae30\uc5c5\ub4e4\uacfc \ud568\uaed8 RoTE \ub3d9\uc778 \ud2b8\ub9ac \ubd84\uc11d\ubc29\ubc95\uc744 \uc774\uc6a9\ud574 \uba40\ud2f0\ub77c\uc778 \ub300\uae30\uc5c5\uc744 \ubaa8\ub178\ub77c\uc778 \uae30\uc5c5\uacfc \ube44\uad50\ud560 \uc218 \uc788\ub294 \uad6c\uc131\uc694\uc18c\ub4e4\ub85c \uc138\ubd84\ud654\ud588\ub2e4. (\ubcf4\uae30 4 \ucc38\uc870.)<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2648\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new.png\" alt=\"\" width=\"1010\" height=\"818\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new.png 1010w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new-300x243.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new-768x622.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new-696x564.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_4_new-519x420.png 519w\" sizes=\"auto, (max-width: 1010px) 100vw, 1010px\" \/><\/a><\/p>\n<p>BCG\uc758 RoE \ubca4\uce58\ub9c8\ud0b9 \ud234\uc740 \uc138\uadf8\uba3c\ud2b8\ubcc4 RoE\uc640 \uadf8 \ud575\uc2ec \ub3d9\uc778\ub4e4\uac04\uc758 \ube44\uad50\ub97c \uac00\ub2a5\ud558\uac8c \ud574 \uc900\ub2e4. \uc774 \uc811\uadfc\ubc95\uc744 \uc774\uc6a9\ud574, \uc6b0\ub9ac\ub294 \uc18c\uc218(\ud639\uc740 \ub2e8\uc77c)\uc758 \uc2dc\uc7a5\uc5d0 \uc9d1\uc911\ud558\ub294 \uc190\ud574, \uc0dd\uba85, \uc7ac\ubcf4 \uc804\ubb38 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \uc5ec\ub7ec \uc2dc\uc7a5\uc5d0\uc11c \uc601\uc5c5\ud558\ub294 \uba40\ud2f0\ub77c\uc778\uadf8\ub8f9\ub4e4\uc758 \uc2e4\uc801\uc744 \ud655\uc2e4\ud788 \ub2a5\uac00\ud568\uc744 \uc54c\uac8c \ub410\ub2e4. \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ube44\uc6a9 \ubc0f \ubcf5\uc7a1\uc131\uc5d0 \uc788\uc5b4 \uaddc\ubaa8\uac00 \ubd88\ub9ac\ud558\uac8c \uc791\uc6a9\ud574 \uc5b4\ub824\uc6c0\uc744 \uacaa\uac8c \ub418\uace0 \uc790\ubcf8 \ubc0f \ub9ac\uc2a4\ud06c \ub2e4\uac01\ud654\ub85c \uc778\ud55c \ud61c\ud0dd\uc740 \uc774\ub97c \ub2e8\uc9c0 \ubd80\ubd84\uc801\uc73c\ub85c\ub9cc \uc0c1\uc1c4\ud574 \uc900\ub2e4. \ub610\ud55c \ub2e8\uc77c\ubd80\ubb38 \uc9d1\uc911 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ubbf8\ud761\ud55c \ub2e4\uac01\ud654\ub97c \ud6a8\uc728\uc801\uc778 \uc7ac\ubcf4\ud5d8 \uac00\uc785 \ud639\uc740 \uaf2c\ub9ac \ub9ac\uc2a4\ud06c(tail risk)\uc758 \uc790\ubcf8\uc2dc\uc7a5 \uc804\ud658\uc744 \ud1b5\ud574 \uc27d\uac8c \ubcf4\uc644\ud560 \uc218 \uc788\ub2e4.<\/p>\n<p>\uc6b0\ub9ac\uc758 \uc811\uadfc\ubc95\uc740 \ub610\ud55c \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \uc911\uac04\uc2e4\uc801 \uae30\uc5c5\ub4e4\uacfc \ucc28\ubcc4\ud654\ub418\ub294 \uc694\uc18c\ub4e4\uc744 \uc9d1\uc911\uc870\uba85\ud55c\ub2e4. (\ubcf4\uae30 5 \ucc38\uc870.) \uc608\ub97c \ub4e4\uc5b4, \uc9c0\ub09c 5\ub144\uac04 \uc911\uac04 RoTE 22%\ub97c \ucc3d\ucd9c\ud558\uba70 \ub2e8\uc5f0 \uac00\uc7a5 \ub9e4\ub825\uc801\uc778 \uc138\uadf8\uba3c\ud2b8\uc778 \uc190\ud574\ubcf4\ud5d8\uc744 \uc0b4\ud3b4\ubcf4\uc790. \uc5b8\ub354\ub77c\uc774\ud305 \ub9c8\uc9c4 \ubc0f \ud22c\uc790\uc218\uc775\uc774 \uac70\uc758 \uac19\uc740 \ube44\uc728\ub85c \uc774\uc5d0 \uae30\uc5ec\ud588\ub2e4. \ud558\uc9c0\ub9cc, \uc774 \uc138\uadf8\uba3c\ud2b8\uc5d0\uc11c\uc758 \uc2e4\uc801\uc740 \uac00\uc7a5 \ud070 \uc2a4\ud504\ub808\ub4dc\ub97c \ubcf4\uc600\ub2e4. \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704\uac00 \uc911\uac04\uae30\uc5c5\ubcf4\ub2e4 10%\ud3ec\uc778\ud2b8 \ub192\uc74032% RoTE\ub97c \uae30\ub85d\ud558\uba70 \uc0ac\uc5c5\ub77c\uc778 \uad6c\uc131, \uc790\ubcf8 \ubd84\ubc30, \uc601\uc5c5\uc6b0\uc218\uc131\uc774 \uc790\ubcf8 \uc0dd\uc0b0\uc131 \ubc0f \uac00\uce58\ubc30\uc218 \uad00\ub9ac\uc5d0 \uc5bc\ub9c8\ub098 \uc911\uc694\ud55c\uc9c0 \uc7ac\ud655\uc778\uc2dc\ucf1c\uc92c\ub2e4. \uc190\ud574\ubcf4\ud5d8\uc758 \uacbd\uc6b0, BCG \ud45c\ubcf8\uc758 \uaca9\ucc28\ub294 3~4 \ud3ec\uc778\ud2b8 \ub192\uc740 \uc190\ud574\uc728(\uc0ac\uc5c5 \uad6c\uc131 \ud639\uc740 \uc2a4\ud0ac\ub85c \uc778\ud55c), 3~4\ud3ec\uc778\ud2b8 \ub0ae\uc740 \uc0ac\uc5c5\ube44\uc728, 15%~20% \ub0ae\uc740 \uc790\ubcf8 \uc9d1\uc911\ub3c4\uc758 \uacb0\uacfc\uc774\ub2e4.<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2639\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5.png\" alt=\"\" width=\"1078\" height=\"817\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5.png 1078w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-300x227.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-1024x776.png 1024w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-768x582.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-696x527.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-1068x809.png 1068w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-554x420.png 554w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_5-80x60.png 80w\" sizes=\"auto, (max-width: 1078px) 100vw, 1078px\" \/><\/a><\/p>\n<p>\uc774 3\uac1c \uc138\uadf8\uba3c\ud2b8\uc5d0\uc11c \ucd5c\uc0c1\uc704\uc640 \uc911\uac04\uadf8\ub8f9\uc758 \ucc28\uc774\ub294 \uaca8\uc6b0 2~5%\ud3ec\uc778\ud2b8\uc600\uc73c\uba70 \uc0dd\uba85\ubcf4\ud5d8\uc5d0\uc11c\ub294 \uc0ac\uc5c5\ube44 70~90bp, \ud22c\uc790\uc2e4\uc801\uc740 10~20bp, \uc218\uc218\ub8cc \uc218\uc775\uc774 90~110 bp \ucc28\uc774\uc600\ub2e4. \uc774 \uc870\ud569\uc744 \ud1b5\ud574 \ucd5c\uc0c1\uc704 \uc0ac\ubd84\uc704 \uc0dd\ubcf4\uc0ac\ub4e4\uc740 \uc900\ube44\uae08\uc5d0\uc11c 100 bp \ub192\uc740 \uc601\uc5c5\uc774\uc775\uc744 \uae30\ub85d\ud560 \uc218 \uc788\ub2e4. \uc7ac\ubcf4\ud5d8\uc5d0\uc11c\ub294, \ucd5c\uc0c1\uc704\uc0ac\ubd84\uc704 \uae30\uc5c5\ub4e4\uc774 \uc911\uac04\uadf8\ub8f9\ubcf4\ub2e4 4%\ud3ec\uc778\ud2b8 \ub192\uc740 \uc5b8\ub354\ub77c\uc774\ud305 \ub9c8\uc9c4\uc744 \ucc3d\ucd9c\ud558\uba70, RoTE \uc2a4\ud504\ub808\ub4dc\uc758 \ub300\ubd80\ubd84\uc744 \ucc28\uc9c0\ud55c\ub2e4. \ub9c8\uc9c4 \uc2e4\uc801\uc740 \uc190\ud574\uc728\uc774 \uac70\uc758 \uc804\uc801\uc73c\ub85c \uae30\uc5ec\ud588\ub2e4. \uc0ac\uc5c5\ube44\ub294 \uac70\uc758 \uc720\uc0ac\ud588\ub2e4. \uc0dd\uba85 \uc7ac\ubcf4\ud5d8\uc740 \ucd5c\uc0c1\uc704\uc640 \ucd5c\ud558\uc704\uac04\uc5d0 \uc2e4\uc801 \uc2a4\ud504\ub808\ub4dc\uac00 \uac70\uc758 \uc5c6\uc5c8\ub2e4.<\/p>\n<p>\uc804\uccb4 \uae30\uac04\ub3d9\uc548, \ubaa8\ub4e0 \ubcf4\ud5d8 \uc138\uadf8\uba3c\ud2b8\uac00 \ud22c\uc790\uc2a4\ud504\ub808\ub4dc\uc5d0 \uc0c1\ub2f9\ud788 \uc758\uc874\ud558\ub294 \uac00\uc6b4\ub370, \uc218\uc775\uc758 50%\uc5d0\uc11c 100%\uac00 \ud22c\uc790\uc2a4\ud504\ub808\ub4dc\uc5d0\uc11c \ubc1c\uc0dd\ud588\ub2e4. \ud3ec\uc2a4\ud2b8 \ucf54\ub85c\ub098 \uc2dc\uae30\uc5d0, \ucc44\uad8c\ube44\uc911\uc774 \ub192\uc740 \uc790\uc0b0 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub294RoI\uac00 \uc5f0\uac04 \ucd5c\uc18c 10~20bp \ud558\ub77d\ud560 \uac83\uc774\ub2e4. \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc774 \uac04\uadf9\uc744 \uc5b8\ub354\ub77c\uc774\ud305 \ubc0f \uc218\uc218\ub8cc \ub9c8\uc9c4 \uc0c1\uc2b9\uc73c\ub85c \ucc44\uc6b0\uae30 \uc704\ud55c \uc0c8\ub85c\uc6b4 \ubc29\uc548\uc744 \uac15\uad6c\ud560 \ud544\uc694\uac00 \uc788\ub2e4. \uba87\uba87 \uad6d\uac00\uc758 \uc77c\ubd80 \uc138\uadf8\uba3c\ud2b8\ub4e4\uc740 \ud22c\uc790\uc218\uc775\uc774 \uc81c\ub85c(\ub9c8\uc774\ub108\uc2a4\uc774\uac70\ub098)\uc778 \ube44\uc988\ub2c8\uc2a4 \ubaa8\ub378\uc744 \uc870\uc815\ud574\uc57c \ud560 \uac83\uc774\ub2e4.<\/p>\n<h3><strong>\uac15\uc778\ud55c \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc5b4\ub5bb\uac8c \uc131\uc7a5\ud560 \uc218 \uc788\ub294\uac00<\/strong><\/h3>\n<p>\ubaa8\ub4e0 \uc720\ud615\uc758 \uae30\uc5c5\uc5d0 \ub300\ud574, \ud22c\uc790\uc790\ub4e4\uc740 \uc784\uc6d0\uc9c4\uc774 \uc5b4\ub824\uc6b4 \uc0c1\ud669\uc744 \uc5b4\ub5bb\uac8c\ub4e0 \uadf9\ubcf5\ud558\uace0 \uae30\uc5c5\uc744 \uc704\ud55c \uc7a5\uae30\uc801\uc778 \uacbd\uc7c1\uc6b0\uc704\uc758 \uc6d0\ucc9c\uc744 \uac1c\ubc1c\ud558\uae30\ub97c \uc6d0\ud55c\ub2e4. 6\uc6d4 \ucd08 \uc2e4\uc2dc\ud55cBCG\uc758 \ud22c\uc790\uc790\uc131\ud5a5\ubd84\uc11d(Investor Pulse Check) \uc124\ubb38\uc870\uc0ac\uc5d0\uc11c \ud22c\uc790\uc790\uc758 91%\ub294 \uae30\uc5c5\ub4e4\uc774 EPS \ub97c \ud76c\uc0dd\ud558\uace0\uc11c\ub77c\ub3c4 \uacbd\uc7c1\uc6b0\uc704\uc640 \uc131\uc7a5\uc744 \uc704\ud55c \ube44\uc988\ub2c8\uc2a4 \uc5ed\ub7c9\uac15\ud654\ub97c \uc6b0\uc120\uc2dc\ud558\ub294 \uac83\uc774 \uc911\uc694\ud558\ub2e4\uace0 \uc0dd\uac01\ud588\uace0, 66%\ub294 \uae30\uc5c5\ub4e4\uc774 \uc804\uccb4 \ud68c\uc0ac\ub97c \uac15\ud654\uc2dc\ud0a4\uae30 \uc704\ud574 \uc801\uadf9\uc801\uc73c\ub85c \uc778\uc218\ub97c \ucd94\uc9c4\ud558\uace0 \uc0ac\uc5c5 \ubd84\ud560\ub9e4\uac01\uc744 \uace0\ub824\ud574\uc57c \ud55c\ub2e4\uace0 \uc0dd\uac01\ud588\uc73c\uba70, 51%\ub294 \uae30\uc5c5\ub4e4\uc774 \ud658\uacbd, \uc0ac\ud68c, \uc9c0\ubc30\uad6c\uc870 \uc5b4\uc820\ub2e4 \ubc0f \uc6b0\uc120\uc21c\uc704\uc5d0 \ub300\ud55c \uc57d\uc18d\uc744 \uc9c0\ud0a4\ub294 \uac83\uc774, \uc124\ub839 \uadf8\ub85c \uc778\ud574 EPS\uac00 \ud0c0\uaca9\uc744 \uc785\uc744\uc9c0\ub77c\ub3c4, \uc911\uc694\ud558\ub2e4\uace0 \uc5ec\uacbc\ub2e4. \ud22c\uc790\uc790\ub4e4\uc740 \u2018\ud6cc\ub96d\ud55c \uae30\uc5c5\u2019, \uadf8\ub9ac\uace0 \u2018\ud6cc\ub96d\ud55c \uc8fc\uc2dd\u2019\uc744 \uc704\ud574 \uadf8 \uc5b4\ub290\ub54c\ubcf4\ub2e4 \uc784\uc6d0\uc9c4\uc774 \uac00\uce58\ub97c \ubcf4\ud638\ud558\uace0 \uac15\ud654\uc2dc\ud0a4\ub294 \ub85c\ub4dc\ub9f5\uc744 \ub9c8\ub828\ud558\ub294 \uac83\uc774 \ud575\uc2ec\uc774\ub77c\uace0 \ubbff\uc5c8\ub2e4.<\/p>\n<p>\uc6b0\ub9ac\ub294 \ubcf4\ud5d8\uc5c5 \uacbd\uc601\uc9c4\ub4e4\uc774 \ud3ec\uc2a4\ud2b8 \ucf54\ub85c\ub098 \uc2dc\ub300\uc5d0 \uc131\uc7a5\uc744 \uc7ac\uc810\ud654\ud558\uace0 \uc5b8\ub354\ub77c\uc774\ud305\uacfc \uc218\uc218\ub8cc \uae30\ubc18 \uc0ac\uc5c5\uc758 \uc218\uc775\uc131\uc744 \ud655\ub300\ud560 \uc218 \uc788\ub294 \ub124 \uac00\uc9c0 \ubc29\uc2dd\uc744, \uc790\ubcf8 \ubd84\ubc30\uc640 \ub354\ubd88\uc5b4, \uc0b4\ud3b4\ubcf8\ub2e4.<\/p>\n<p>\ubc14\uc774\uc624\ub2c9(bionic) \ube44\uc988\ub2c8\uc2a4 \ubaa8\ub378\ub85c\uc758 \ubcc0\ud601 \uac00\uc18d\ud654\ud558\uae30. 2018\ub144 \ubcf4\ud5d8\uac00\uce58\ucc3d\ucd9c\uae30\uc5c5 \ubcf4\uace0\uc11c\uc5d0\uc11c, \uc6b0\ub9ac\ub294 \uacfc\uac10\ud55c \uc6c0\uc9c1\uc784\uc5d0 \ud070 \ubcf4\uc0c1\uc774 \ub530\ub974\uace0 \uc788\uc73c\uba70 \uacfc\uac10\ud568\uc758 \ud575\uc2ec\ubd84\uc57c\ub294 \ucca8\ub2e8\uae30\uc220\uc5d0\uc758 \ud22c\uc790\ub77c\uace0 \ubd84\uc11d\ud55c \ubc14 \uc788\ub2e4. \uc880 \ub354 \ucd5c\uadfc BCG \uc5f0\uad6c\uc870\uc0ac\uc5d0 \ub530\ub974\uba74, \ub300\ubd80\ubd84\uc758 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ub514\uc9c0\ud138 \uc774\ub2c8\uc154\ud2f0\ube0c\uc5d0 \ub300\ud55c \ud22c\uc790\uac00 \ubbf8\ud761\ud558\uba70 \uc5c5\uacc4\uc758 \ub514\uc9c0\ud138 \ucc54\ud53c\uc5b8 \uae30\uc5c5\ub4e4-\ub514\uc9c0\ud138 \ud22c\uc790\ub97c \uc6b0\uc120\uc73c\ub85c \ud558\uba70 \ub514\uc9c0\ud138 \uc870\uc9c1\uc744 \uad6c\uc131\ud558\uace0 \uc788\ub294 \uae30\uc5c5\ub4e4-\uc5d0 \uafb8\uc900\ud788 \ub4a4\uccd0\uc9c0\uace0 \uc788\ub2e4.<\/p>\n<blockquote><p>\ub300\ubd80\ubd84\uc758 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ub514\uc9c0\ud138 \uc774\ub2c8\uc154\ud2f0\ube0c\uc5d0 \ub300\ud55c \ud22c\uc790\uac00 \ubbf8\ud761\ud558\uba70 \uc5c5\uacc4\uc758 \ub514\uc9c0\ud138 \ucc54\ud53c\uc5b8 \uae30\uc5c5\ub4e4\uc5d0 \uafb8\uc900\ud788 \ub4a4\uccd0\uc9c0\uace0 \uc788\ub2e4.<\/p><\/blockquote>\n<p>\ub514\uc9c0\ud138 \ud22c\uc790\uac00 \ub9e4\ucd9c, \ube44\uc6a9, \uace0\uac1d \ub9cc\uc871\ub3c4\ub77c\ub294 \uc911\uc694\ud55c \uc0ac\uc5c5\uc9c0\ud45c\uc5d0 \uc788\uc5b4 \ube60\ub978 \ubcf4\uc0c1\uc774 \uc788\ub2e4\uace0 \ud574\ub3c4, \ub514\uc9c0\ud138\ud654 \ubc29\ubc95, \uad00\ub828\ube44\uc6a9, \ud22c\uc790 \uc218\uc775\uc5d0 \ub300\ud55c \uacc4\uc18d\ub418\ub294 \ubd88\ud655\uc2e4\uc131\uc73c\ub85c \uc778\ud574 \ub9ce\uc740 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \uacfc\uac10\ud55c \ub300\ucc45\uc744 \ucd94\uc9c4\ud558\ub294 \uac83\uc774 \uc5b4\ub824\uc6e0\ub2e4. BCG\uac00 2019\ub144 \uc5f0\uac04 \ub514\uc9c0\ud138 \ubc1c\uc804\uc9c0\uc218(Digital Acceleration Index) -BCG\uc758 \ub514\uc9c0\ud138 \uc131\uc219\ub3c4 \ud3c9\uac00\ub3c4\uad6c-\ub97c \uc870\uc0ac\ud55c 9\uac1c \uc0b0\uc5c5 1800\uac1c \uae30\uc5c5\ub4e4 \uc911, \ubcf4\ud5d8\ud68c\uc0ac\ub294 100\uc810 \ub9cc\uc810 \uc911 \ud3c9\uade0 47\uc810\uc744 \uae30\ub85d\ud588\ub294\ub370, \uae08\uc735\uae30\uad00\ubcf4\ub2e4 14.5% \ub0ae\uc740 \uc810\uc218\uc600\ub2e4. \uae08\uc735\uc5c5\uc740 \uae30\uc220\uc0b0\uc5c5\uacfc \ud568\uaed8 \ud3c9\uade0 55\uc810\uc73c\ub85c \ub2e4\ub978 \uc0b0\uc5c5\ubcf4\ub2e4 \uc6b0\uc218\ud55c \uacb0\uacfc\ub97c \ubcf4\uc600\ub2e4. (\uadf8\ub807\ub2e4\uace0\ub294 \ud574\ub3c4, \ub514\uc9c0\ud138\ud654\uac00 \ub35c \ub41c \ub9ce\uc740 \uae30\uc5c5\ub4e4\uacfc \uadf8 \uc720\ud1b5 \ud611\ub825\uc0ac\ub4e4\uc774 \ucf54\ub85c\ub09819 \uc704\uae30\ub300\ucc98\uc5d0 \ub300\ud55c \uc900\ube44\uac00 \ub35c \ub418\uc5b4 \uc788\uc74c\uc744 \uae68\ub2ec\uc558\uc744 \uac83\uc774\uae30 \ub54c\ubb38\uc5d0 \uc55e\uc73c\ub85c \ubcf4\ud5d8\uc5c5\uc758 \ub514\uc9c0\ud138\ud654\uac00 \uac00\uc18d\ud654\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud55c\ub2e4. \ub514\uc9c0\ud138\ud654\ub294 \uc0c1\ud669\uc5d0 \ub530\ub77c \uc9c4\ud589\ub418\ub294 \uc7ac\ub7c9\uc801\uc778 \ud22c\uc790\uc5d0\uc11c \uae34\uae09\ud55c \ube44\uc988\ub2c8\uc2a4 \ud544\uc218\uc0ac\ud56d\uc73c\ub85c \ubcc0\ubaa8\ud588\ub2e4.)<\/p>\n<p>\ucd94\uac00\ubd84\uc11d\uc744 \ud1b5\ud574\uc11c\ub3c4 \ub354 \ub192\uc740 \uc218\uc900\uc758 \ub514\uc9c0\ud138 \uc131\uc219\ub3c4\ub294 \uc2e4\uc801\uacfc \uac15\ub825\ud55c \uc0c1\uad00\uad00\uacc4\uac00 \uc788\uc74c\uc744 \uc54c \uc218 \uc788\ub2e4. \ub514\uc9c0\ud138 \ucc54\ud53c\uc5b8 \uae30\uc5c5\ub4e4\uc740 \ub514\uc9c0\ud138 \ud6c4\ubc1c\uae30\uc5c5\ub4e4\uc744 \uace0\uac1d \ub9cc\uc871\ub3c4, \ub9e4\ucd9c \uc131\uc7a5, \ube44\uc6a9\uac10\uc18c \ub4f1 \uc5ec\ub7ec \ube44\uc988\ub2c8\uc2a4 \uc9c0\ud45c\uc5d0\uc11c \ub2a5\uac00\ud55c\ub2e4. \uc608\ub97c \ub4e4\uc5b4, \ubc14\uc774\uc624\ub2c9 \uc811\uadfc\ubc95-\uc778\uac04\uacfc \uae30\uacc4, \ud2b9\ud788 AI,\uc758 \uac15\uc810\uc744 \ud569\uccd0\ub193\uc740 \uae30\ubc95-\uc744 \uc0ac\uc6a9\ud558\ub294 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uace0\uac1d\ub9cc\uc871\ub3c4\ub97c NPS(\uc21c\ucd94\ucc9c\uc9c0\uc218)\uac00 \ub514\uc9c0\ud138 \ud6c4\ubc1c\uae30\uc5c5\ubcf4\ub2e4 43\ud3ec\uc778\ud2b8 \ub354 \ub192\uc558\uc73c\uba70, \uc0ac\uc5c5\ube44\uc728\uc774 \ud3c9\uade0 5%\ud3ec\uc778\ud2b8 \uac10\uc18c\ud588\ub294\ub370, \ud6c4\ubc1c\uae30\uc5c5\uc5d0\uc11c\ub294 1\ud3ec\uc778\ud2b8 \uac10\uc18c\uc5d0 \uadf8\ucce4\ub2e4.<\/p>\n<p>\uc774 \ub3d9\uc778\ub4e4\uc740 \uc8fc\uc8fc\uc218\uc775 \uc0c1\uc2b9\uc73c\ub85c \uc774\uc5b4\uc9c4\ub2e4. (\ubcf4\uae30 6 \ucc38\uc870.) \uc774 \uc5f0\uacb0\uace0\ub9ac\ub294 \ub9e4\uc6b0 \uac15\ub825\ud574\uc11c \ub514\uc9c0\ud138 \ud22c\uc790\ub294 \uc2e4\uc801\uac1c\uc120\uacfc \ub2e8\uc21c\ud788 \uc0c1\uad00\uad00\uacc4\uac00 \uc788\ub294 \uac83\uc774\ub77c\uae30\ubcf4\ub2e4\ub294 \uc8fc\uc694 \uc6d0\uc778\uc774\ub77c\uace0 \ud560 \uc218 \uc788\ub2e4.<\/p>\n<p><a href=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2649\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new.png\" alt=\"\" width=\"1256\" height=\"819\" title=\"\" srcset=\"https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new.png 1256w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-300x196.png 300w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-1024x668.png 1024w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-768x501.png 768w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-696x454.png 696w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-1068x696.png 1068w, https:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/09\/new-premium_6_new-644x420.png 644w\" sizes=\"auto, (max-width: 1256px) 100vw, 1256px\" \/><\/a><\/p>\n<p>\ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ub514\uc9c0\ud138 \ub300\uc751\uc774 \ud544\uc218\uc801\uc778 \uc720\ud1b5, \uace0\uac1d\uc11c\ube44\uc2a4, \uc6b4\uc601, \uc870\uc9c1, \ubcf4\ud5d8\uae08 \uccad\uad6c\uad00\ub9ac\uc758 5\uac00\uc9c0 \ud575\uc2ec\ubd84\uc57c\uc5d0 \uc9d1\uc911\ud574\uc57c \ud55c\ub2e4. \uac01 \ubd84\uc57c\uc5d0 \ub300\ud574, \ub2e4\uc74c\uacfc \uac19\uc740 \uad6c\uccb4\uc801\uc778 \ubaa9\ud45c\ub97c \uc218\ub9bd\ud574\uc57c \ud55c\ub2e4.<\/p>\n<ul>\n<li>\ubcf4\ud5d8\uc124\uacc4\uc0ac\uc640 \uc911\uac1c\uc778\uc5d0 \ub514\uc9c0\ud138 \ubc0f \ubc14\uc774\uc624\ub2c9 \ud234 \uc81c\uacf5\ud574 \uc0ac\ud68c\uc801 \uac70\ub9ac\ub450\uae30 \uae30\uac04 \ubc0f \uc774\ud6c4 \uace0\uac1d\ub4e4\uacfc\uc758 \uc18c\ud1b5 \ubc0f \uac70\ub798 \uc9c0\uc6d0<\/li>\n<li>\uc77c\uc0c1\uc0dd\ud65c\uc5d0\uc11c \ub514\uc9c0\ud138 \ucc44\ub110\uc744 \uc810\uc810 \ub354 \ub9ce\uc774 \uc0ac\uc6a9\ud558\uac8c \ub420 \uace0\uac1d\ub4e4\uc744 \uc704\ud574 \ub354\uc6b1 \uc6b0\uc218\ud55c \ub514\uc9c0\ud138 \uacbd\ud5d8 \uc81c\uacf5 \ubc0f \ud3b8\ub9ac\uc131 \uac15\ud654.<\/li>\n<li>AI, \ube45\ub370\uc774\ud130, \uae30\ud0c0 \uae30\uc220\ubc1c\uc804\uc744 \uc774\uc6a9\ud574 \uc6b4\uc601\uc6b0\uc218\uc131 \ubc0f \ud6a8\uc728\uc131\uc99d\ub300.<\/li>\n<li>\ube44\uc6a9\ud6a8\uc728\uc131 \ubc0f \uc778\uac04\uc5d0 \ub300\ud55c \uc9d1\uc911 \uc720\uc9c0<\/li>\n<li>\ubcf4\ud5d8\uae08 \uccad\uad6c \ud504\ub85c\uc138\uc2a4 \uc2e0\uc18d\ud654 \ubc0f AI\ud65c\uc6a9 \ubcf4\ud5d8\uc0ac\uae30 \uc801\ubc1c \ubc0f \ubcf4\ud5d8\uae08\uccad\uad6c \uad00\ub9ac \ud234\uc744 \uc774\uc6a9\ud55c \ube44\uc6a9\uc808\uac10<\/li>\n<\/ul>\n<p><strong>\uc0c8\ub85c\uc6b4 \uc5c5\ubb34\ubc29\uc2dd\uc744 \ud1b5\ud55c \uc0dd\uc0b0\uc131 \uc81c\uace0.<\/strong> \ucf54\ub85c\ub09819 \uc704\uae30\ub97c \ud1b5\ud574 \ub354\uc6b1 \uac15\ub825\ud558\uac8c \ubd80\uc0c1\ud558\ub294 \uae30\uc5c5\ub4e4\uc740 \uc55e\uc73c\ub85c \uba87 \ub2ec \uac04 \ube44\uc6a9, \uc18d\ub3c4, \ud68c\ubcf5\ub825\uc758 3\uac00\uc9c0 \ud575\uc2ec\uc694\uc778\ub4e4\uc744 \uc798 \ud574\uacb0\ud558\ub294 \uae30\uc5c5\ub4e4\uc77c \uac83\uc774\ub2e4. \ub9ce\uc740 \uae30\uc5c5\ub4e4\uc774 \ud575\uc2ec \uc5ed\ub7c9\uc5d0 \ub300\ud55c \ud53c\ud574\ub97c \ucd5c\uc18c\ud654 \ud558\uba74\uc11c \ube44\uc6a9\uc744 \uc808\uac10\ud560 \ud544\uc694\uac00 \uc788\ub2e4. \uc218\uc694\ud328\ud134 \ubcc0\ud654\uc640 \uac19\uc740 \ud658\uacbd\ubcc0\ud654\uc5d0 \ube60\ub974\uac8c \ub300\uc751\ud558\ub294 \ub2a5\ub825\uc740 \ubcf4\ud5d8\uc0ac\uac00 \ud53c\ud574\ub97c \uc5b5\uc81c\ud558\uace0 \uc0c8\ub85c\uc6b4 \uae30\ud68c\ub97c \ucd5c\ub300\ud55c \ud65c\uc6a9\ud558\ub824\ub294 \ub178\ub825\uc5d0 \ud070 \uc601\ud5a5\uc744 \ubbf8\uce60 \uac83\uc774\ub2e4. \ubaa8\ub4e0 \uae30\uc5c5\ub4e4\uc740 \uadf8\ub4e4\uc774 \uc758\uc874\ud558\ub294 \ud544\uc218\uc2dc\uc2a4\ud15c\ub4e4\uc758 \uc5f0\uc57d\ud568\uacfc \uc6b4\uc601\ud68c\ubcf5\ub825\uc758 \ud544\uc694\uc131\uc5d0 \ub300\ud574 \uace0\ud1b5\uc2a4\ub7fd\uac8c \uae68\ub2eb\uac8c \ub410\ub2e4.<\/p>\n<p>\uc870\uc9c1\ub4e4\uc774 \uc0c8\ub85c\uc6b4 \ud604\uc2e4\uc5d0 \uc801\uc751\ud558\ub294 \ub370 \uc788\uc5b4 \ub450 \uac00\uc9c0 \uc694\uc18c\uac00 \uac00\uc7a5 \uc911\uc694\ud560 \uac83\uc774\ub2e4. \ud558\ub098\ub294 \uc0c8\ub85c\uc6b4 \ud604\uc7ac(new now)\uc758 7\uac00\uc9c0 \uc778\uc801 \uc6b0\uc120\uc21c\uc704\uc774\ub2e4. (\u20187\uac00\uc9c0 \uc778\uc801 \uc6b0\uc120\uc21c\uc704\u2019 \ucc38\uc870.) \ub098\uba38\uc9c0 \ud558\ub098\ub294 \uc560\uc790\uc77c(agile)\ud55c \uc6b4\uc601\uc744 \ub300\ub300\uc801\uc73c\ub85c \ud655\ub300\ud558\ub294 \ub2a5\ub825\uc774\ub2e4. \uae30\uc5c5\ub4e4\uc740 \uc5ed\uc0ac\uc801\uc73c\ub85c \uacbd\uae30\uc704\ucd95 \uc2dc\uae30\ub97c \ud5e4\uccd0 \ub098\uac00\ub294\ub370 \ud544\uc694\ud55c \ub300\uc751\uc758 \uae34\uae09\uc131, \uaddc\ubaa8, \ubc94\uc704\ub97c \uacfc\uc18c\ud3c9\uac00\ud558\ub294 \uacbd\ud5a5\uc774 \uc788\uc5c8\ub2e4. \uc560\uc790\uc77c\uc740 \ube44\uc6a9, \uc18d\ub3c4, \ud68c\ubcf5\ub825\uc758 \ubc14\ub298\uc744 \ub3d9\uc2dc\uc5d0 \uc6c0\uc9c1\uc77c \uc218 \uc788\ub294 \uae30\uc5c5 \uc5ed\ub7c9\uc774\ub2e4. \uc2e4\ubb34 \ud300\ub4e4\uacfc \ube44\uc988\ub2c8\uc2a4 \ubaa9\ud45c \uc0ac\uc774\uc758 \uacac\uace0\ud55c \uc5f0\uacb0\uace0\ub9ac\ub294, \uac04\uc18c\ud55c \uc778\uc218\uc778\uacc4 \ubc0f \uc6d0\ud65c\ud55c \uc5c5\ubb34 \uc870\uc815\uacfc \ud569\uccd0\uc838, \ud6a8\uc728\uc131\uacfc \ud6a8\uacfc\uc131\uc744 \ubaa8\ub450 \uac1c\uc120\ud55c\ub2e4. \uc758\uc0ac\uacb0\uc815\uacfc \uc9c0\ubc30\uad6c\uc870\uc758 \uac04\uc18c\ud654\ub294 \uc0c8\ub85c\uc6b4 \uc0c1\ud669\uc5d0\uc758 \uc2e0\uc18d\ud55c \ub300\uc751\uacfc \ube60\ub978 \uc0c1\ud488 \ucd9c\uc2dc\ub97c \uac00\ub2a5\ucf00 \ud55c\ub2e4. \ub610\ud55c \ubaa9\uc801, \uc804\ub7b5, \uc6b0\uc120\uc21c\uc704\uacfc\uc81c\uac00 \uc11c\ub85c \uc870\ud654\ub97c \uc774\ub8e8\uba74 \ud300\ub4e4\uc740 \ub354 \uc27d\uac8c \ub3c5\ub9bd\uc801\uc73c\ub85c \uc77c\ud560 \uc218 \uc788\uace0, \ud68c\ubcf5\ub825\ub3c4 \uac1c\uc120\ub41c\ub2e4.<\/p>\n<hr \/>\n<h4><strong>7\uac00\uc9c0 \uc778\uc801 \uc6b0\uc120\uc21c\uc704<\/strong><\/h4>\n<p>\ud3ec\uc2a4\ud2b8 \ucf54\ub85c\ub098 \ud604\uc2e4\uc5d0\uc11c \uae30\uc5c5\ub4e4\uc774 \uc5fc\ub450\ud574\uc57c \ud560 \uc0ac\ub78c\uc5d0 \ub300\ud55c 7\uac00\uc9c0 \ucd5c\uc6b0\uc120\uc21c\uc704\uac00 \uc788\ub2e4.<\/p>\n<p><strong>\uc2a4\ub9c8\ud2b8\ud55c \uc5c5\ubb34<\/strong><\/p>\n<ul>\n<li>\uac00\uc0c1\ud611\uc5c5 \ubc0f \uc6d0\uaca9\uadfc\ubb34 \ud655\ub300 \uc2e4\uc2dc<\/li>\n<li>\uc6d0\uaca9 \ubc0f \ud604\uc7a5 \uadfc\ubb34\uc758 \uade0\ud615\uc744 \ub9de\ucd94\ub294 \uc0c8\ub85c\uc6b4 \uc811\uadfc\ubc95 \uc2dc\ub3c4<\/li>\n<li>\u00a0\uc2a4\ub9c8\ud2b8 \uc9c1\uc7a5 \uc900\ube44<\/li>\n<li>\ube44\uc6a9 \uac1c\uc120 \uc2e4\ud604<\/li>\n<\/ul>\n<p><strong>\uc2e0\uccb4 \ubc0f \uc815\uc2e0 \uac74\uac15<\/strong><\/p>\n<ul>\n<li>\uc2e0\uccb4 \uac74\uac15\ub2a5\ub825 \ubc1c\ub2ec<\/li>\n<li>\uc815\uc2e0 \uac74\uac15 \ubc0f \ub9c8\uc74c\uc758 \uc911\uc694\uc131 \uac15\uc870<\/li>\n<li>\ubcf5\uc9c0 \ubc0f \ud68c\ubcf5\ub825 \uac1c\uc120<\/li>\n<\/ul>\n<p><strong>\uc2a4\ud0ac\uacfc \uc778\uc7ac\uc5d0 \ub300\ud55c \uc0c8\ub85c\uc6b4 \ud328\ub7ec\ub2e4\uc784<\/strong><\/p>\n<ul>\n<li>\uc218\uc815\uac00\ub2a5\ud55c \ud559\uc2b5 \uc0dd\ud0dc\uacc4 \ud615\uc131<\/li>\n<li>\ub514\uc9c0\ud138 \uc5ed\ub7c9\uc744 \uaddc\ubaa8\uc788\uac8c \uad6c\ucd95\ud574 \uc2a4\ud0ac \ud5a5\uc0c1 \ubc0f \uc7ac\uad50\uc721<\/li>\n<li>\uc778\uc7ac \ud504\ub85c\uadf8\ub7a8 \ubc0f \ud50c\ub7ab\ud3fc \uc7ac\uc9d1\uc911 \ubc0f \uc2e4\ud589<\/li>\n<\/ul>\n<p><strong>\uc778\ub825 \uc720\uc5f0\uc131 \ud5a5\uc0c1<\/strong><\/p>\n<ul>\n<li>\uc778\ub825, \ube44\uc6a9, \uc2a4\ud0ac \uacc4\ud68d\uc758 \uc5ed\ub3d9\uc131 \uac1c\uc120<\/li>\n<li>\uc9c1\uc6d0\ubcc4 \uc5c5\ubb34\ubaa8\ub378 \ub9de\ucda4\ud654<\/li>\n<li>\uc0c8\ub85c\uc6b4 \uc2e4\uc801, \ubcf4\uc0c1, \ubcf4\uc218\uccb4\uacc4 \uc81c\ub3c4\ud654<\/li>\n<\/ul>\n<p><strong>\uc774\uc131\uc801\uc774\uace0, \uc9c4\uc2ec\uc774\uba70, \uc801\uadf9\uc801\uc778 \ub9ac\ub354\uc2ed<\/strong><\/p>\n<ul>\n<li>\uacf5\uac10\uc744 \ubc14\ud0d5\uc73c\ub85c \ubc29\ud5a5\uc131 \uc788\uac8c \uc870\uc9c1 \ub9ac\ub4dc<\/li>\n<li>\uc77c\uc120 \ub9ac\ub354\ub4e4\uc5d0 \ud798\uc744 \uc2e4\uc5b4 \uc8fc\uace0 \uad8c\ud55c \uac15\ud654<\/li>\n<li>\uc9c0\uc18d\uc801\uc778 \uc30d\ubc29\ud5a5 \uc18c\ud1b5 \ud50c\ub7ab\ud3fc \uac1c\ubc1c<\/li>\n<\/ul>\n<p><strong>\ubaa9\uc801\uc911\uc2ec \ubb38\ud654<\/strong><\/p>\n<ul>\n<li>\ud68c\ubcf5\uc131\uc774 \uac15\uc870\ub418\ub294 \ubb38\ud654 \uc870\uc131<\/li>\n<li>\ubaa9\uc801, \ube44\uc804, \uac00\uce58\uc758 \uc77c\uce58<\/li>\n<li>\uc9c0\uc18d\uac00\ub2a5\uc131 \ubc0f \uace0\ucc28\uc6d0\uc801\uc778 \uc0ac\ud68c\uc801 \uc601\ud5a5\uc5d0 \ub300\ud55c \uc758\uc9c0<\/li>\n<\/ul>\n<p><strong>\ubc14\uc774\uc624\ub2c9 \uc870\uc9c1<\/strong><\/p>\n<ul>\n<li>\ub370\uc774\ud130 \ubc0f \ub514\uc9c0\ud138 \ud50c\ub7ab\ud3fc \ud65c\uc6a9<\/li>\n<li>AI\uc640 \uc54c\uace0\ub9ac\uc998\uc744 \uc774\uc6a9\ud574 \uc778\uc801\uc5ed\ub7c9 \ubcf4\uc644<\/li>\n<li>\uc560\uc790\uc77c\uc758 \ud655\ub300 \ub3c4\uc785<\/li>\n<li>\uc6b4\uc601 \ubaa8\ub378 \ub2e8\uc21c\ud654<\/li>\n<\/ul>\n<hr \/>\n<p><strong>\uace0\uae09 \uc2dc\ub098\ub9ac\uc624 \uc0ac\uace0\ubc29\uc2dd \ub3c4\uc785.<\/strong> \uae30\uc5c5\ub4e4\uc740 \uac70\uc2dc\ud658\uacbd\uc5d0\uc11c \ub354 \ud070 \ubd88\ud655\uc2e4\uc131\uc5d0 \uc9c1\uba74\ud560 \ub54c, \ub354 \uc608\uce21\ud558\uae30 \uc5b4\ub824\uc6b4 \uc138\uacc4\uc5d0\uc11c \ub354 \ud655\uc2e4\ud558\uc9c0 \uc54a\uc740 \uacb0\uacfc\uc5d0 \ub300\ud574 \ub354 \ud070 \ud22c\uc790\ub97c \ud574\uc57c\ud560 \ud544\uc694\uac00 \uc788\ub2e4. \uc774\ub7f0 \uac00\ub2a5\uc131\uacfc \uc608\uce21\ud558\uae30 \uc5b4\ub824\uc6b4 \ucf54\ub85c\ub09819\uc758 \uc601\ud5a5\uc744 \ud1b5\ud574 \uc5bb\uc740 \uad50\ud6c8\uc744 \ubc14\ud0d5\uc73c\ub85c, \ub354 \ub9ce\uc740 \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \ub354\uc6b1 \ubc1c\uc804\ub41c \uc2dc\ub098\ub9ac\uc624 \ubd84\uc11d\uc5d0 \ub208\uc744 \ub3cc\ub9ac\uace0 \uc788\ub2e4. \uc774 \uc811\uadfc\ubc95\uc744 \ud1b5\ud574 \uacbd\uc601\uc9c4\uc740 \ub2e4\uc591\ud55c \uc2dc\ub098\ub9ac\uc624\uc5d0\uc11c \uc804\ub7b5 \ubc0f \uc804\uc220\uc801 \uc870\uce58\ub4e4\uc758 \uacb0\uacfc\ub97c \uc608\uc0c1\ud558\uace0 \uc0c1\ud669\uc545\ud654\uac00 \ud575\uc2ec \ube44\uc988\ub2c8\uc2a4 \uc9c0\ud45c(\uc790\ubcf8, \ub9c8\uc9c4, \uc720\ub3d9\uc131 \ub4f1)\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \ube60\ub974\uac8c \uacc4\uc0b0\ud558\uace0, \uc775\uc2a4\ud3ec\uc838 \ubcc4 \ub9ac\uc2a4\ud06c\uc640 \ub4dc\ub7ec\ub098\uc9c0 \uc54a\uc740 \uc9d1\uc911\ub3c4\ub97c \ucc3e\uc544\ub0b4\uace0, \uc0ac\uc5c5 \uac00\uc815 \ubc0f \uae30\uc874 \uc7ac\ubb34\ub300\ucc45\uc744 \uc7ac\ud3c9\uac00\ud560 \uc218 \uc788\ub2e4. \uc774 \ud504\ub85c\uc138\uc2a4\ub294 \ub124 \ub2e8\uacc4\ub85c \uc774\ub8e8\uc5b4\uc9c4\ub2e4.<\/p>\n<ul>\n<li><strong>\ucde8\uc57d\uc131 \ubd84\uc11d.<\/strong> \uc2dc\uc7a5\ucda9\uaca9\uc5d0 \ub300\ud55c \uae08\uc735 \ucde8\uc57d\uc131, \uc6b4\uc601 \ucde8\uc57d\uc131, \ube44\uc988\ub2c8\uc2a4 \ucde8\uc57d\uc131 \ub4f1 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud68c\uc0ac\uc758 \uc57d\uc810 \ubc0f \ud574\ub2f9 \uc9c0\ud45c\ub97c \ud558\ud5a5\uc2dd\uc73c\ub85c \ud30c\uc545.<\/li>\n<li><strong>\uc2dc\ub098\ub9ac\uc624 \uc124\uacc4.<\/strong> \ud575\uc2ec \ucde8\uc57d\uc131\uc5d0 \ub300\ud574 \uc2ec\uac01\ub3c4 \ubc0f \uc9c0\uc18d\uae30\uac04 \ubfd0 \uc544\ub2c8\ub77c \uc704\uae30\uc758 \uc720\ud615\uc5d0 \ub530\ub77c \ub2e4\uc591\ud55c \uc885\ub958\uc758 \uadf9\ub2e8\uc801\uc778 \uc2dc\ub098\ub9ac\uc624 \ubc0f \uc2a4\ud2b8\ub808\uc2a4 \ud14c\uc2a4\ud2b8 \ud3c9\uac00.<\/li>\n<li><strong>\uc601\ud5a5 \ud3c9\uac00.<\/strong> \uc7ac\ubb34, \uc6b4\uc601, \ube44\uc988\ub2c8\uc2a4 \ub4f1 \uc7a0\uc7ac\uc801 \uc601\ud5a5\uc758 \ubaa8\ub4e0 \uc2dc\ub098\ub9ac\uc624\uc5d0 \ub300\ud574 \uba87 \uc77c, \ud639\uc740 \uba87 \uc8fc \ub0b4\uac00 \uc544\ub2c8\ub77c \uba87 \uc2dc\uac04\ub0b4\ub85c \uc2dc\uac01\uc801 \ubb18\uc0ac\uac00 \uac00\ub2a5\ud55c \ud3c9\uac00<\/li>\n<li><strong>\ud2b8\ub9ac\uac70(trigger)\uae30\ubc18 \uc644\ud654\ub300\ucc45.<\/strong> \uc7ac\ubb34\uc81c\ud45c \ubcc0\ub3d9\uc131 \ub3d9\uc778, \uae08\uc735 \ud5f7\uc9d5, \uc720\ud1b5\ucc44\ub110 \uad6c\uc131, IT \uacf5\uae09\uc5c5\uccb4, HR \uc548\uc804\uacc4\ud68d, \uae30\uc5c5 \ub124\ud2b8\uc6cc\ud06c \ubc0f \uace0\uac1d \uc778\uc13c\ud2f0\ube0c \ub4f1 \ubc29\uc5b4\ucc45 \uc218\ub9bd.<\/li>\n<\/ul>\n<p>\uc6b0\ub9ac\ub294 \ucd5c\uadfc \ubbf8\uad6d\uc5d0 \ubcf8\uc0ac\ub97c \ub454 \ud55c \ubcf4\ud5d8 \ub300\uae30\uc5c5\uacfc \ud568\uaed8 \ucf54\ub85c\ub09819 \ud655\uc0b0\uacfc \ud568\uaed8 \ube60\ub974\uac8c \uc545\ud654\ub418\ub294 \uc2dc\uc7a5\uc5d0\uc11c \uae08\ub9ac \ubc0f \uc2e0\uc6a9(\ub9c8\uc774\ub108\uc2a4 \uae08\ub9ac \uac00\ub2a5\uc131 \ud3ec\ud568)\uacfc \uae30\uc5c5 \ud22c\uc790 \ubc30\ubd84 \uc804\ub9dd\uc744 \ud3c9\uac00\ud588\ub2e4. \uace0\uae09 \uc2dc\ub098\ub9ac\uc624 \uacc4\ud68d \ud234\uc744 \uc774\uc6a9\ud574, \uc774 \uae30\uc5c5\uc740 \ud22c\uc790\ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c \uc2e0\uc18d\ud788 \ubd84\uc11d\ud558\uace0, \ub2e4\uc591\ud55c \uacbd\uae30 \uc2dc\ub098\ub9ac\uc624\uc5d0 \ub300\ud574 \uacb0\uacfc\ubb3c\uc744 \uc2dc\ubbac\ub808\uc774\uc158\ud558\uace0 \uc815\ub7c9\ud654\ud558\uba70, \uc77c\uc2dc\uc801 \ub9c8\uc774\ub108\uc2a4 \uae08\ub9ac, \ucf54\ub85c\ub098 19 \ub354\ube14\ub525(double dip) \ub4f1 \uc7a0\uc7ac\uc801 \ucd5c\uc545\uc758 \uacbd\uc6b0\ub97c \uac80\ud1a0\ud560 \uc218 \uc788\uc5c8\ub2e4. \uc774 \uc2dc\ub098\ub9ac\uc624\ub294 \uc2a4\ud504\ub808\ub4dc \ud655\ub300\ub97c \ucd5c\ub300\ud55c \ud65c\uc6a9\ud574 \ub354 \ub098\uc740 \uc0c1\ud488\uc73c\ub85c\uc758 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uc7ac\ubd84\ubc30\uc804\ub7b5\uc744 \uc21c\uc870\ub86d\uac8c \uc9c4\ud589\ud558\ub294\ub370 \uc720\uc6a9\ud55c \uc790\ub8cc\uac00 \ub410\ub2e4. \uc774 \ubcf4\ud5d8\uc0ac\ub294 \uc804\ud658\uc758 \ud6a8\uacfc\ub97c \uc218\uce58\ud654\ud558\uace0 \uc218\uc775\uc5d0 \ub300\ud55c \uc601\ud5a5\uc744 \ucd5c\uc18c\ud654\ud558\ub294 \uc804\uc220\uc801 \ub300\ucc45\uc744 \uc218\ub9bd\ud560 \uc218 \uc788\uc5c8\ub2e4.<\/p>\n<p>\ud604\uba85\ud55c M&amp;A\ub97c \ud1b5\ud55c \ube44\uc988\ub2c8\uc2a4 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ucd5c\uc801\ud654. M&amp;A\ub294 \ube44\uc988\ub2c8\uc2a4 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c \uc7ac\uc870\uc815\ud558\uace0 \uc804\ub7b5\ud3ec\uc9c0\uc158\uc744 \uac1c\uc120\ud568\uc73c\ub85c\uc368 \uc790\ubcf8 \uc0dd\uc0b0\uc131\uc744 \ud655\ub300\ud560 \uc218 \uc788\ub294 \ud575\uc2ec \uc804\ub7b5\uc774\ub2e4. \uc120\uacac\uc9c0\uba85\uc774 \uc788\ub294 \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \uc774 \uc704\uae30\ub97c \uc774\uc6a9\ud574 \uc778\uc218\uc640 \ub9e4\uac01\uc744 \ud3c9\uac00\ud558\uace0 \uc544\ub9c8\ub3c4 \ucd94\uc9c4\ud560 \uc218\ub3c4 \uc788\uc744 \uac83\uc774\ub2e4. \ud569\ub9ac\uc801\uc73c\ub85c \uac00\uaca9\uc774 \ucc45\uc815\ub41c M&amp;A\ub294 \uc2e4\uc801\uac1c\uc120\uc758 4\uac00\uc9c0 \uc6d0\ucc9c\uc73c\ub85c \uc774\uc5b4\uc9c8 \uc218 \uc788\uace0, \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \ucf54\ub85c\ub09819 \uc704\uae30\uc5d0\uc11c \ub354\uc6b1 \ube68\ub9ac \ubc97\uc5b4\ub0a0 \uc218 \uc788\uc744 \uac83\uc774\ub2e4.<\/p>\n<ul>\n<li><strong>\ud6a8\uc728\uc131 \uac1c\uc120.<\/strong> \uc6b4\uc601\uaddc\ubaa8 \ud655\ub300\ub294 \uae30\uc220 \ud50c\ub7ab\ud3fc\uc758 \ub2e8\uac00\ud558\ub77d \ud639\uc740 \uaddc\ubaa8\uc758 \ud6a8\uc728\uc131 \ud5a5\uc0c1\ub85c \uc774\uc5b4\uc9c8 \uc218 \uc788\ub2e4.<\/li>\n<li><strong>\uace0\uac1d \ub370\uc774\ud130 \uc811\uadfc\uc131.<\/strong> \uace0\uac1d\ub370\uc774\ud130 \ubc0f \ubcf4\ud5d8\uae08 \uccad\uad6c\uc774\ub825 \ub370\uc774\ud130 \uaddc\ubaa8\uc758 \ud655\ub300\ub294 \ubcf4\ud5d8\ub8cc\ucc45\uc815 \ubc0f \uace0\uac1d \uc778\uc0ac\uc774\ud2b8\uc5d0 \uadc0\uc911\ud55c \uc790\ub8cc\uac00 \ub420 \uc218 \uc788\ub2e4.<\/li>\n<li><strong>\uc2dc\uc7a5 \uc810\uc720\uc728 \uc0c1\uc2b9.<\/strong> \uc218\uc775\uc131 \uc788\ub294 \uace0\uac1d \ucc38\uace0\uc790\ub8cc \ud68d\ub4dd\uc740 \uaddc\ubaa8\ud655\ubcf4\uc758 \uc9c0\ub984\uae38\uc774 \ub420 \uc218 \uc788\ub2e4.<\/li>\n<li><strong>\uc0c8\ub85c\uc6b4 \uae30\uc220 \uc5ed\ub7c9.<\/strong> \uac15\ub825\ud55c \uae30\uc220\uc5ed\ub7c9\uc744 \uac16\ucd98 \uc80a\uc740 \uae30\uc5c5\uc744 \uc778\uc218\ud558\uba74 \uc774\ub7f0 \uc194\ub8e8\uc158\uc744 \uc778\ud558\uc6b0\uc2a4 \uac1c\ubc1c\ud558\ub294 \uac83\ubcf4\ub2e4 \ub354\uc6b1 \uc2e0\uc18d\ud558\uace0 \ud6a8\uc728\uc801\uc77c \uc218 \uc788\ub2e4.<\/li>\n<\/ul>\n<p>\ubcf4\ud5d8\uc5c5\uc740 \ucf54\ub85c\ub09819\ub85c \uc778\ud574 \uac00\uc7a5 \uc2ec\ud55c \ucda9\uaca9\uc744 \ubc1b\uc740 \uc0b0\uc5c5 \uc911\uc5d0 \ud558\ub098\uc774\uc9c0\ub9cc, \uc0c1\uc704 10%\uc640 \ud558\uc704 10%\uc0ac\uc774\uc5d0 \uc5ec\uc804\ud788 \ud070 \uc2e4\uc801\uaca9\ucc28\uac00 \uc874\uc7ac\ud558\uba70 \uc774\ub7f0 \ubd88\uade0\ud615\uc740 \ubaa8\ub4e0 \ubcf4\ud5d8 \ud558\uc704\ubd80\ubb38\uc5d0 \uc874\uc7ac\ud574, \uc7a0\uc7ac\uc801\uc73c\ub85c \ub9e4\ub825\uc801\uc778 \uc778\uc218\uae30\ud68c\ub85c \uc774\uc5b4\uc9c4\ub2e4. \uac8c\ub2e4\uac00, \ub2e4\uc591\ud55c \uc0b0\uc5c5 \ubd80\ubb38\uc5d0 \ub300\ud55c BCG TSR \uc870\uc0ac\uc5d0 \ub530\ub974\uba74, \uacbd\uae30 \uce68\uccb4\uae30\uc5d0 \uc774\ub8e8\uc5b4\uc9c4 \uac70\ub798\uac00 \uacbd\uae30\ud638\ud669\uae30 \uac70\ub798\uc5d0 \ube44\ud574 1\ub144 \ud6c4\uc5d0\ub294 7%\ud3ec\uc778\ud2b8, 2\ub144\ud6c4\uc5d0\ub294 \uc57d 10%\ud3ec\uc778\ud2b8 \ub354 \uc88b\uc740 \uc131\uacfc\ub97c \ubcf4\uc778\ub2e4. \ub178\ub828\ud55c \uc778\uc218\uae30\uc5c5\ub4e4\uc740 \ud6e8\uc52c \ub354 \ub9ce\uc740 \uac00\uce58\ub97c \ucc3d\ucd9c\ud558\uaca0\uc9c0\ub9cc, \uac04\ud5d0\uc801 \uc778\uc218\uae30\uc5c5\ub4e4 \uc5ed\uc2dc \uacbd\uae30\ud558\ub77d\uae30\uc758 \uac70\ub798\ub97c \ud1b5\ud574 \uac00\uce58\ub97c \ucc3d\ucd9c\ud560 \uc218 \uc788\ub2e4. \ub610\uac00 \ud3c9\uac00\uac00\uce58\uac00 \ud558\ub77d\ud568\uc5d0 \ub530\ub77c, (\ubaa9\ud45c\uae30\uc5c5\uc758 \ud22c\uc790\uc790\ub4e4\uc774 \ub354 \ub0ae\uc740 \uac00\uaca9\ub3c4 \uae30\uaebc\uc774 \ubc1b\uc544\ub4e4\uc774\uac8c \ub41c\ub2e4\ub294 \uac00\uc815 \ud558\uc5d0) 2019\ub144\uc5d0\ub294 \ubd88\uac00\ub2a5\ud588\uc744 \ub51c\uc774 \ub2e4\uc2dc \ub808\uc774\ub354 \ub9dd\uc5d0 \uc624\ub97c \uc218\ub3c4 \uc788\ub2e4.<\/p>\n<p>\ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud5d8\ub09c\ud55c \uae38\uc744 \uc55e\uc5d0 \ub450\uace0 \uc788\ub2e4. \uc138\uacc4 \uacbd\uc81c\ud68c\ubcf5\uc774 \uc624\ub7ab\ub3d9\uc548 \ub354\ub514\uac8c \uc9c4\ud589\ub418\uac70\ub098 \ucf54\ub85c\ub09819\uac00 \uc7ac\ud655\uc0b0\ub418\ub294 \uacbd\uc6b0, \uc0c1\ud669\uc740 \ub354\uc6b1 \uc545\ud654\ub420 \uc218\ub3c4 \uc788\ub2e4. \ud558\uc9c0\ub9cc, \uc790\uadf8\ub9c8\uce58 \uc54c\ubc84\ud2b8 \uc544\uc778\uc288\ud0c0\uc778(Albert Einstein)\uc774 \uc77c\ucc0d\uc774 \ub9d0\ud55c \ubc14\uc640 \uac19\uc774, \u2018\uace0\ub09c\uc758 \uc640\uc911\uc5d0 \uae30\ud68c\uac00 \uc788\ub2e4.\u2019 \uc9c0\uae08\uc774\uc57c\ub9d0\ub85c \uac15\uc778\ud55c \ubcf4\ud5d8\uc0ac\ub4e4\uc774 \ub354\uc6b1 \uac15\ud574\uc9c8 \uc218 \uc788\ub294 \ucd5c\uc801\uc758 \uc2dc\uae30\uc774\ub2e4.<\/p>\n<p><a href=\"https:\/\/www.bcg.com\/publications\/2020\/insurance-value-creators-report\" target=\"_blank\" rel=\"noopener\">\uc6d0\ubb38(\uc601\uc5b4)\ubcf4\ub7ec\uac00\uae30<\/a><\/p>\n<p><a href=\"\/newsletter\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2753\" src=\"http:\/\/bcgblog.kr\/wp-content\/uploads\/2020\/10\/BCG\ub274\uc2a4\ub808\ud130\uad6c\ub3c5\ud558\uae30\ucd08\ub85d\ubc30\uacbd.png\" alt=\"\" width=\"180\" height=\"50\" title=\"\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud604\uc7ac \uc0c1\ud669\uc774 \uc5b4\ub824\uc6b4 \uac83\uc5d0\ub294 \uc758\ubb38\uc758 \uc5ec\uc9c0\uac00 \uc5c6\ub2e4. 2019\ub144, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud3c9\uade0 \ucd1d\uc8fc\uc8fc\uc218\uc775\ub960 28%\ub97c \ub2ec\uc131\ud588\ub2e4. \ud68c\ubcf5\uc138\ub97c \ubcf4\uc774\ub294 \ub354 \uad11\ubc94\uc704\ud55c \uc2dc\uc7a5 \ud3c9\uade0 27%\uc5d0 \uac78\ub9de\uac8c, 2019\ub144 12\uc6d4 31\uc77c\uae4c\uc9c0 5\ub144\ub3d9\uc548, \ubcf4\ud5d8\uc0ac\ub4e4\uc740 \ud3c9\uade0 8.2%\uc758 TSR\uc744 \uae30\ub85d\ud588\ub294\ub370 \uc774\ub294 \uc2dc\uc7a5 \uc804\uccb4\uc2e4\uc801\uc744 1.4% \ud3ec\uc778\ud2b8 \uc815\ub3c4\ub85c \uc57d\uac04 \ubc11\ub3c4\ub294 \uac83\uc774\uc5c8\ub2e4.<\/p>\n","protected":false},"author":1,"featured_media":1772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[33,24,47],"tags":[],"class_list":{"0":"post-2633","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fi-ins-pipe","8":"category-bcgx_digital_ai","9":"category-covid19"},"_links":{"self":[{"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/posts\/2633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/comments?post=2633"}],"version-history":[{"count":0,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/posts\/2633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/media\/1772"}],"wp:attachment":[{"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/media?parent=2633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/categories?post=2633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bcgblog.kr\/wp-json\/wp\/v2\/tags?post=2633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}