{"id":6670,"date":"2025-06-06T17:26:00","date_gmt":"2025-06-06T08:26:00","guid":{"rendered":"https:\/\/forum.trustonasset.com\/?p=6670"},"modified":"2025-06-08T22:34:17","modified_gmt":"2025-06-08T13:34:17","slug":"%ec%9e%90%ec%82%ac%ec%a3%bc-%eb%a7%8e%ec%9d%80-%ec%a0%80pbr-%ea%b8%b0%ec%97%85%ec%97%90-%ec%a3%bc%eb%aa%a9%ed%95%b4%ec%95%bc-%ed%95%98%eb%8a%94-%ec%9d%b4%ec%9c%a0%eb%8a%94","status":"publish","type":"post","link":"https:\/\/forum.trustonasset.com\/?p=6670","title":{"rendered":"\uc790\uc0ac\uc8fc \ub9ce\uc740 \uc800PBR \uae30\uc5c5\uc5d0 \uc8fc\ubaa9\ud574\uc57c \ud558\ub294 \uc774\uc720\ub294?"},"content":{"rendered":"\n

2025\ub144 \ub4e4\uc5b4 \uc8fc\uc2dd\uc2dc\uc7a5\uc5d0\uc11c \u2018\uc800\ud3c9\uac00 \uc6b0\ub7c9\uc8fc\u2019\uc5d0 \ub300\ud55c \uad00\uc2ec\uc774 \ub2e4\uc2dc \ub192\uc544\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 PBR(\uc8fc\uac00\uc21c\uc790\uc0b0\ube44\uc728)\uc774 1\ubc30 \ubbf8\ub9cc\uc774\uba74\uc11c \uc790\uc0ac\uc8fc\ub97c \ub9ce\uc774 \ubcf4\uc720\ud55c \uae30\uc5c5\ub4e4<\/strong>\uc774 \uae30\uad00\uacfc \uc678\uad6d\uc778, \uc815\ubd80 \uc815\ucc45 \ubaa8\ub450\uc758 \uad50\ucc28\uc810\uc5d0\uc11c \uc911\uc694\ud55c \ud22c\uc790 \ub300\uc0c1\uc73c\ub85c \ub5a0\uc624\ub974\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub2e8\uc21c\ud788 \uc8fc\uac00\uac00 \ub0ae\uae30 \ub54c\ubb38\ub9cc\uc774 \uc544\ub2c8\ub77c, \uc815\ucc45 \uc218\ud61c \uac00\ub2a5\uc131\uacfc \uc8fc\uc8fc\ud658\uc6d0 \uc5ec\ub825, \ud589\ub3d9\uc8fc\uc758 \ud380\ub4dc\uc758 \uac1c\uc785 \uc5ec\uc9c0<\/strong> \ub4f1 \ub2e4\uc591\ud55c \uc694\uc778\uc774 \ud568\uaed8 \uc791\uc6a9\ud558\uace0 \uc788\uae30 \ub54c\ubb38\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\uc815\ubd80\ub3c4 \uc774 \ud750\ub984\uc744 \ub4b7\ubc1b\uce68\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. 2025\ub144\ubd80\ud130 \ubcf8\uaca9 \uc2dc\ud589\ub41c \u2018\uae30\uc5c5\uac00\uce58 \uc81c\uace0 \ud504\ub85c\uadf8\ub7a8(\ubc38\ub958\uc5c5)\u2019\uc740 PBR\uc774 \ub0ae\uc740 \uae30\uc5c5\ub4e4\uc774 \uc790\uc0ac\uc8fc \ub9e4\uc785, \uc18c\uac01, \ubc30\ub2f9 \ud655\ub300 \ub4f1\uc744 \ud1b5\ud574 \uc8fc\uc8fc\uac00\uce58\ub97c \ub04c\uc5b4\uc62c\ub9b4 \uacbd\uc6b0 \uc138\uc81c\ub098 \uc815\ucc45\uc801 \uc778\uc13c\ud2f0\ube0c\ub97c \uc81c\uacf5\ud558\ub294 \ubc29\ud5a5\uc73c\ub85c \uc124\uacc4\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uadf8 \uacb0\uacfc \uacfc\uac70\uc5d0\ub294 \uc870\uc6a9\ud788 \uc313\uc544\ub450\uae30\ub9cc \ud558\ub358 \uc790\uc0ac\uc8fc\uac00, \uc9c0\uae08\uc740 \uae30\uc5c5\uc758 ‘\ud589\ub3d9\ub825’\uc744 \ubcf4\uc5ec\uc8fc\ub294 \uc911\uc694\ud55c \uc790\uc0b0\uc73c\ub85c \ub2e4\uc2dc \uc870\uba85\ubc1b\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\uad6d\ub0b4 \uae30\uc5c5\ub4e4\uc774 \uc790\uc0ac\uc8fc\ub97c \ub9ce\uc774 \ubcf4\uc720\ud558\uac8c \ub41c \ubc30\uacbd\uc5d0\ub294 \ub2e4\uc591\ud55c \uc694\uc778\uc774 \uc874\uc7ac\ud569\ub2c8\ub2e4. \uac00\uc7a5 \ub300\ud45c\uc801\uc778 \uac83\uc740 \uc8fc\uac00 \ud558\ub77d\uae30\uc5d0 \ubc29\uc5b4\uc801\uc73c\ub85c \uc790\uc0ac\uc8fc\ub97c \ub9e4\uc785\ud55c \uacbd\uc6b0<\/strong>\uc785\ub2c8\ub2e4. \ucf54\ub85c\ub09819 \uc774\ud6c4 \uacbd\uae30 \ub454\ud654\uc640 \uae08\ub9ac \uc0c1\uc2b9, \uc9c0\uc815\ud559\uc801 \ubd88\uc548\uc815\uc131 \ub4f1\uc73c\ub85c \uc2dc\uc7a5 \ubcc0\ub3d9\uc131\uc774 \ucee4\uc9c0\uc790, \ub9ce\uc740 \uae30\uc5c5\ub4e4\uc774 \uc8fc\uac00 \ud558\ub77d\uc744 \ubc29\uc5b4\ud558\uae30 \uc704\ud55c \uc218\ub2e8\uc73c\ub85c \uc790\uc0ac\uc8fc\ub97c \uc0ac\ub4e4\uc600\uc2b5\ub2c8\ub2e4. \uc774\ub54c \ub9e4\uc785\ub41c \uc790\uc0ac\uc8fc\ub294 \uc801\uadf9\uc801\uc73c\ub85c \ud65c\uc6a9\ub418\uc9c0 \uc54a\uace0 \uadf8\ub300\ub85c \uc7a5\uae30 \ubcf4\uc720\ub418\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc558\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\ub610 \ub2e4\ub978 \ubc30\uacbd\uc740 \uacbd\uc601\uad8c \ubc29\uc5b4 \ubaa9\uc801<\/strong>\uc785\ub2c8\ub2e4. \uad6d\ub0b4 \uc0c1\uc7a5\uae30\uc5c5 \uc911\uc5d0\ub294 \ud2b9\uc815 \ub300\uc8fc\uc8fc\uac00 \uc5c6\uac70\ub098 \uc9c0\ubd84\uc728\uc774 \ub0ae\uc740 \uacf3\ub3c4 \ub9ce\uc2b5\ub2c8\ub2e4. \uc774 \uacbd\uc6b0 \uc678\ubd80\ub85c\ubd80\ud130\uc758 \uc801\ub300\uc801 \uc778\uc218\ud569\ubcd1(M&A)\uc744 \ub9c9\uae30 \uc704\ud55c \uc218\ub2e8\uc73c\ub85c \uc790\uc0ac\uc8fc\ub97c \ud655\ubcf4\ud574\ub454 \uacbd\uc6b0\uac00 \ub9ce\uc558\uc73c\uba70, \uc774 \ub610\ud55c \uc8fc\uc8fc\ud658\uc6d0\ubcf4\ub2e4\ub294 \ubc29\uc5b4\uc801 \uc131\uaca9\uc774 \uac15\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\uc774\ucc98\ub7fc \uacfc\uac70\uc5d0\ub294 \uc790\uc0ac\uc8fc \ubcf4\uc720\uac00 \uae30\uc5c5\uc758 \uc8fc\uc8fc\uce5c\ud654\uc801 \u2018\uc758\uc9c0\u2019\ubcf4\ub2e4\ub294 \uad6c\uc870\uc801 \ud544\uc694\uc640 \uc704\ud5d8\ud68c\ud53c \uc804\ub7b5\uc758 \uacb0\uacfc<\/strong>\uc600\ub2e4\uace0 \ubcfc \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \ucd5c\uadfc \ub4e4\uc5b4 \uc815\ubd80 \uc815\ucc45, \uc2dc\uc7a5 \uc694\uad6c, \ud589\ub3d9\uc8fc\uc758 \ud380\ub4dc\uc758 \uc555\ubc15 \ub4f1\uc774 \ub9de\ubb3c\ub9ac\uba74\uc11c, \uc774\ub7ec\ud55c \uc790\uc0ac\uc8fc\uac00 \uc774\uc81c\ub294 \u2018\uc8fc\uc8fc\uac00\uce58 \uc81c\uace0\ub97c \uc2e4\ud589\ud560 \uc218 \uc788\ub294 \uc790\uc0b0\u2019\uc73c\ub85c \uc7ac\ud3c9\uac00<\/strong>\ub418\uace0 \uc788\ub294 \uc0c1\ud669\uc785\ub2c8\ub2e4.<\/p>\n
\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n \n

2024\ub144 \ub9d0\ubd80\ud130 \uad6d\ub0b4\uc678 \ud589\ub3d9\uc8fc\uc758 \ud380\ub4dc\ub4e4\uc774 \uc800PBR \uae30\uc5c5\uc5d0 \uc801\uadf9\uc801\uc73c\ub85c \uac1c\uc785\ud558\uae30 \uc2dc\uc791\ud588\uc2b5\ub2c8\ub2e4. \uc790\uc0ac\uc8fc\ub97c \uc774\ubbf8 \ub9ce\uc774 \ubcf4\uc720\ud558\uace0 \uc788\ub294 \uae30\uc5c5\uc740, \uc790\uc0ac\uc8fc \uc18c\uac01\uc774\ub098 \ubc30\ub2f9 \ud655\ub300 \ub4f1\uc758 \uc870\uce58\ub97c \ube60\ub974\uac8c \uc2dc\ud589\ud560 \uc218 \uc788\uc5b4 \ud589\ub3d9\uc8fc\uc758 \ud380\ub4dc\uc758 \uc8fc\uc8fc \uc81c\uc548\uc774 \uc2e4\ud604\ub420 \uac00\ub2a5\uc131\uc774 \ud06c\uae30 \ub54c\ubb38<\/strong>\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\uc678\uad6d\uc778 \ud22c\uc790\uc790\ub4e4\ub3c4 \ube44\uc2b7\ud55c \ub9e5\ub77d\uc5d0\uc11c \uc6c0\uc9c1\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4. 2025\ub144 \ub4e4\uc5b4 \uc678\uad6d\uc778\uc740 PBR\uc774 \ub0ae\uace0 \uc790\uc0ac\uc8fc\ub97c \uc77c\uc815 \ube44\uc728 \uc774\uc0c1 \ubcf4\uc720\ud55c \uae30\uc5c5\ub4e4\uc5d0 \ub300\ud574 \uc9d1\uc911\uc801\uc73c\ub85c \uc21c\ub9e4\uc218<\/strong>\ub97c \ubcf4\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub4e4\uc740 \ub2e8\uc21c\ud788 \u2018\uc2fc \uc8fc\uc2dd\u2019\uc774 \uc544\ub2c8\ub77c, \uc790\uc0b0\uac00\uce58\ub294 \ub192\uc9c0\ub9cc \uc544\uc9c1 \uc2dc\uc7a5\uc5d0\uc11c \uc81c \uac00\uce58\ub97c \ubabb \ubc1b\uace0 \uc788\ub294 \uc885\ubaa9<\/strong>\uc744 \ucc3e\uace0 \uc788\uc73c\uba70, \ud2b9\ud788 \uc8fc\uc8fc\ud658\uc6d0 \uc815\ucc45\uc744 \ud3bc\uce60 \uc5ec\uc9c0\uac00 \uc788\ub294 \uae30\uc5c5\uc5d0 \ub300\ud574 \ub192\uc740 \ud504\ub9ac\ubbf8\uc5c4\uc744 \ubd80\uc5ec\ud558\ub294 \uacbd\ud5a5\uc774 \uac15\ud574\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\ucd5c\uadfc\uc5d0\ub294 \uc790\uc0ac\uc8fc \uc18c\uac01 \uc808\ucc28\ub97c \uac04\uc18c\ud654\ud558\uace0 \uc800PBR \uae30\uc5c5\uc758 \ud1f4\ucd9c\uae4c\uc9c0 \uac10\uc548\ud558\ub294\uadfc\uc5d0\ub294 \uc790\uc0ac\uc8fc \uc18c\uac01 \uc808\ucc28\ub97c \uac04\uc18c\ud654\ud558\uace0 \uc800PBR \uae30\uc5c5\uc758 \ud1f4\ucd9c\uae4c\uc9c0 \uac10\uc548\ud558\ub294 \uc0c1\ubc95 \uac1c\uc815 \ub17c\uc758\ub3c4 \uc9c4\ud589\ub418\uace0 \uc788\uc5b4, \ud5a5\ud6c4 \ub354 \ub9ce\uc740 \uae30\uc5c5\ub4e4\uc774 \ubcf4\uc720 \uc911\uc778 \uc790\uc0ac\uc8fc\ub97c \uc2e4\uc9c8\uc801\uc778 \uc8fc\uac00 \ubd80\uc591 \uc218\ub2e8\uc73c\ub85c \ud65c\uc6a9\ud560 \uc218 \uc788\ub294 \ud658\uacbd\uc774 \ub9c8\ub828\ub420 \uac00\ub2a5\uc131\ub3c4 \ub192\uc2b5\ub2c8\ub2e4. PBR\uc774 \ub0ae\ub2e4\ub294 \uac83\uc740 \uc790\uc0b0\uc5d0 \ube44\ud574 \uc8fc\uac00\uac00 \ub0ae\uac8c \ud3c9\uac00\ub418\uace0 \uc788\ub2e4\ub294 \ub73b<\/span>\uc785\ub2c8\ub2e4. \uc5ec\uae30\uc5d0 \uc790\uc0ac\uc8fc\ub97c \ubcf4\uc720\ud558\uace0 \uc788\ub2e4\ub294 \uac83\uc740 \uae30\uc5c5\uc774 \uc2dc\uc7a5 \ud3c9\uac00\ub97c \ub04c\uc5b4\uc62c\ub9b4 \uc218 \uc788\ub294 \uc2e4\ud589 \uc218\ub2e8\uc744 \uac16\ucd94\uace0 \uc788\ub2e4<\/strong>\ub294 \uc758\ubbf8\uac00 \ub429\ub2c8\ub2e4. \ud2b9\ud788 \uc815\ucc45\uc801\uc73c\ub85c \uc720\uc778\ucc45\uc774 \uc81c\uacf5\ub418\uace0 \uc788\ub294 \uc9c0\uae08, \uacfc\uac70\uc5d0\ub294 \ud65c\uc6a9\ub418\uc9c0 \uc54a\uc558\ub358 \uc790\uc0ac\uc8fc\uac00 \uc801\uadf9\uc801 \uc218\ub2e8\uc73c\ub85c \uc804\ud658\ub420 \uac00\ub2a5\uc131<\/strong>\uc774 \ub192\uc544\uc84c\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n \n

\ubb3c\ub860 \ubaa8\ub4e0 \uc790\uc0ac\uc8fc \ubcf4\uc720 \uae30\uc5c5\uc774 \uc8fc\uc8fc\uce5c\ud654\uc801\uc77c \uac83\uc774\ub77c\ub294 \ubcf4\uc7a5\uc740 \uc5c6\uc2b5\ub2c8\ub2e4. \ud558\uc9c0\ub9cc \uc790\uc0ac\uc8fc \ubcf4\uc720 + \uc800PBR + \uc7ac\ubb34\uc548\uc815\uc131 + \uc815\ucc45 \uc218\ud61c \uac00\ub2a5\uc131<\/strong>\uc774 \ud568\uaed8 \uc788\ub294 \uae30\uc5c5\uc774\ub77c\uba74, \ub9ac\ub808\uc774\ud305(\uc7ac\ud3c9\uac00)\uc758 \uac00\ub2a5\uc131\uc740 \ud06c\uac8c \ub192\uc544\uc9d1\ub2c8\ub2e4. \ud22c\uc790\uc790 \uc785\uc7a5\uc5d0\uc11c\ub294 \ub2e8\uc21c\ud55c \uc2e4\uc801\uc774\ub098 \ucc28\ud2b8\ubcf4\ub2e4\ub294, \uae30\uc5c5\uc758 \ud589\ub3d9 \uc5ec\ub825\uacfc \uc758\uc9c0\ub97c \ub3d9\uc2dc\uc5d0 \ud3c9\uac00\ud558\ub294 \uc2dc\uac01\uc774 \ud544\uc694\ud55c \uc2dc\uc810<\/strong>\uc785\ub2c8\ub2e4. \uc790\uc0ac\uc8fc\ub97c \uc313\uc544\ub450\ub294 \ub370 \uadf8\uce58\uc9c0 \uc54a\uace0, \uc774\ub97c \uc2e4\uc81c\ub85c \ud65c\uc6a9\ud560 \uc218 \uc788\ub294 \uae30\uc5c5\uc778\uc9c0, \uacbd\uc601\uc9c4\uc774 \uc2dc\uc7a5\uc758 \uc694\uad6c\uc5d0 \ubbfc\uac10\ud558\uac8c \ubc18\uc751\ud558\uace0 \uc788\ub294\uc9c0\ub97c \uc0b4\ud3b4\ubcf4\ub294 \uac83\uc774 \uc911\uc694\ud569\ub2c8\ub2e4.<\/p>\n
\n\n\n\n

<\/a>\u261e\uc9c0\ubc30\uad6c\uc870\uc758 \uac1c\uc120\uc744 \ud1b5\ud574 \uc8fc\uc8fc\uc758 \uac00\uce58\ub97c \uc62c\ub9ac\ub294 \ud2b8\ub7ec\uc2a4\ud1a4 ESG\uc9c0\ubc30\uad6c\uc870\ub808\ubca8\uc5c5 \ud380\ub4dc<\/a><\/strong><\/p>\n\n\n\n
\n\n\n\n

\ud2b8\ub7ec\uc2a4\ud1a4\uc790\uc0b0\uc6b4\uc6a9 \uace0\uc7ac\ub7c9 \uacfc\uc7a5<\/em><\/p>\n\n\n\n
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2025\ub144 \ub4e4\uc5b4 \uc8fc\uc2dd\uc2dc\uc7a5\uc5d0\uc11c \u2018\uc800\ud3c9\uac00 \uc6b0\ub7c9\uc8fc\u2019\uc5d0 \ub300\ud55c \uad00\uc2ec\uc774 \ub2e4\uc2dc \ub192\uc544\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 PBR(\uc8fc\uac00\uc21c\uc790\uc0b0\ube44\uc728)\uc774 1\ubc30 \ubbf8\ub9cc\uc774\uba74\uc11c \uc790\uc0ac\uc8fc\ub97c ···<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5,4,8,13],"tags":[71,78,46,96,37,114],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8gpnE-1JA","_links":{"self":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/6670"}],"collection":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6670"}],"version-history":[{"count":2,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/6670\/revisions"}],"predecessor-version":[{"id":6673,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/6670\/revisions\/6673"}],"wp:attachment":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}