LGERI

hjkim@lgeri.com
shyoon@lgeri.com

.
.
. FDI
.

2000
. .
,
. .

. , , R&D .
.
, .
.
. ,
(stakeholder)
.

LG Business Insight 2010 7 7

. 1

,
2000 (Foreign Direct
Investment, FDI) .
(FDI, Foreign Direct Investment)
,

,
.

LGERI

UN(UNCTAD) (FDI Global

Quarterly Index, 2005=100 ) , 2008 1
218.5(2 1,267 )
2009 1 72.0(7,008 ) . 2009 2
115.3(1 1,222 ) 2009 4
(< 1> ).


.

. , EU

M&A2

. 2008
2007 29.2%,

< 1> FDI

(2005=100)
350
300
250
200
150
100
50
0

2001

2003

2005

2007

2009

: .
: UNCTAD, Global Investment Trends Monitor, No.3, 2010.4

1 F DI(, Foreign Direct Investment) ,

(Inward FDI) ,
(Outward FDI) , ,
.
2 , M&A

LG Business Insight 2010 7 7

LGERI

M&A
.

16.7%
18.5%, 4.2% . 2009
41.2%, 35.4%
. 2007 45.6%
2009 83.9% (< 2> ).
.
, EU ()
2.6% M&A
.

< 2> FDI FDI

(%)
90
80
70
60
50
40
30
20
10
0

(%)
25

Inward FDI()

20
15
10

Outward FDI()

5
0
2000

2002

2004

2006

2008

M&A

(Greenfield)
M&A
. 2009
23%( )
, M&A 66%( )

:
: UNCTAD, Online FDI Database

. 2010 1 ,
Mega Deal M&A

< 3> Greenfield vs. M&A

2007
( )
450

()
5,000

Greenfield()

4,000

3,000

2,000

1,000

M&A 2009 3

300

150

M&A()

`2007

`2008

: UNCTAD, Online FDI Database

LG Business Insight 2010 7 7

`2009

`2010

3 1 (< 3> ).

4 83.1%, 54.6% .


, , ,
.
, .

.
,
. , HR ,
, ,
.

.

LGERI

?
/
, .

, .

.
M&A
(LBO),
.
.
2009 (< 4>
).
.

LG Business Insight 2010 7 7

LGERI

.

,

.

.

. ,
. ,

.

. 2009 2
,
2000

(< 5> ).

< 4>

(%p)
5

2
1

. , , ,

-1

2001

2003

2005

2007

2009

: , , , , GDP-M2 .
: Datastream, LG

LG Business Insight 2010 7 7

,
.

FDI
.

1. (Home Country) :
,
.

.
LGERI

.
(beggar-my-neighbor)
(lose-lose game)
.


.


.

. ,

,
.
(=)

< 5>
(%)
10

8
6

4
2

0
-2
-4
1990

1995

2000

2005

2010

2015

: LG
: IMF, LG

LG Business Insight 2010 7 7

LGERI

. , , ,

.
. ,
(spillover)
. ,
,

.
EU
. (R&D)

.
.
.

.
, BRICs
.

. ,
,
.
.
. ,


. ODA

LG Business Insight 2010 7 7

2. (Host Country):
.
,

.
, ,
,
LGERI

.
. 10


(home country)
(bargaining power) . ,
.
. ,


.
.

,

.
,

LG Business Insight 2010 7 7

LGERI

.
,
(Spill-over)
.

. FDI
1. U-
2~3 ? 3
3(< 6> >).
V .

, M&A
. U .
M&A
. L

< 6> FDI

<>

( )
2,000

V
1,500
U

.

U
.

1,000
L
500

. ,

0
1990

1995

2000

2005

2010

: UNCTAD, Assessing the Impact of the Current Financial and

Economics Crisis on Global FDI flows, 2009.1

32009 1 UCTAD 3 .

10

LG Business Insight 2010 7 7


,

U .

2.

.

LGERI

.

.

, EU
. ,
,

.
.

. ,
, ,
.
,

LG Business Insight 2010 7 7

11

LGERI

,

FDI

.

. , R&D
.

R&D
.
, M&A FDI
.
MSK , BYD
,
M&A .

(Rule-taker)
(Rule-setter)
.
Followers

.
GDP (Inflow FDI)
2000~07 3.3% 2008~09 2.4% ,
(Outflow FDI) 0.4% 1.0%
.

.

. 10
, 10

.

12

LG Business Insight 2010 7 7



.
.

. ,

. ,
, R&D
.

LGERI

3.

.
,

.
,
. , ,
.

.
. ,

FDI (< 7> ).

.

LG Business Insight 2010 7 7

13

LGERI

1 ,
, .
,
, ,
.

, ,
.

. , ,

.

.
.
,
. Coase(1937) 4
Vernon(1966) 5

< 7>

-2

-1

: 2009~2011 CEO . 0 .
-2 . -1
: UNCTAD, World Investment Prospects Survey 2009~2011

,

.



.

4
5

14

LG Business Insight 2010 7 7

.
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.

.
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,
.
LGERI

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.
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,
.
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Test Bed
R&D . ,
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,
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.

.

LG Business Insight 2010 7 7

15

LGERI

. M&A
, , ,
M&A (Joint
Venture)
. ,
, ,
, ,
.

(retention)
, , R&D
.


. , R&D
(spillover)
,
.
, ,
(stakeholder) .

. www.lgeri.com

16

LG Business Insight 2010 7 7