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focus

support accelerate

GROWTH

QUALIFICATIONS TO SERVE

KT Link
2003 4

2003 4

( )
.
( KT Linkus )

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Network

M&A


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focussupport
accelerate
GROWTH



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Reputation
, KT Linkus S1
CAPS, CHUBB Global Player
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Advisory Service , Due diligence ,
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focussupport
accelerate
GROWTH



KT Linkus
/

one-stop-service .
Project
Management
Due
diligence

Single
Service
Provider

Business
Consulting

Tax

Multi-Service
Preferred
Provider

Deal
Structuring

Business
Plan

Post Transaction
Advice
Valuation


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()
Due diligence







Communication level

KT Linkus

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
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focussupport
accelerate
GROWTH

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Diligence

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Diligence
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KT Linkus

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focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
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: (Acquisition Criteria)

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
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KT Linkus
(Long List) KT Linkus
(short list) ,
.
,
.
KT Linkus
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: (short list),

10

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

KT Linkus, ,
(Confidentiality Agreement :CA)
.

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11

focussupport
accelerate
GROWTH

Due
Diligence

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Diligence
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12

focussupport
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GROWTH

Due
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Diligence

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Diligence
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Due diligence
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( , , ) .
, , .
Data Room , (Information Request List)
.
:

13

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

(Preliminary Price Analysis) (P/E, EBIT, EBITDA multiple


), , DCF ,

. KT Linkus ( )
.
: Financial Model,

14

focussupport
accelerate
GROWTH

Due
Diligence

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Diligence

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Diligence
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15

focussupport
accelerate
GROWTH

Due
Diligence

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Diligence

Due
Diligence
/

(Letter of Intent) , Due


diligence ,
.
: (Letter of Intent : LOI)

16

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

KT Linkus
, ( Due
diligence, , , , )
(MOU ) .
(non-binding),
.
: (Memorandum of Understanding: MOU)

17

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

Due diligence , ,
, Due diligence ,
.

18

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

Due diligence
, financial mode (Final
offer) .
: Financial Model, ,

19

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

/ ( , ),
.
(Closing) .
: (Sale & Purchase Agreement :SPA)

20

focussupport
accelerate
GROWTH

Due
Diligence

Due
Diligence

Due
Diligence
/

,
, .

21

focussupport
accelerate
GROWTH

,
.
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Management

(
)

22

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KT Linkus

DCF /



Bidder A
Bidder B
Bidder C

KRW

,
,
.
, KT Linkus
.
,
.

23

Mechanism

focussupport
accelerate
GROWTH

KRW

KRW
Company
CompanyBB

KRW

KRW

Mechanism

Company
CompanyAA

25

focussupport
accelerate
GROWTH

( : )

( : )

20~30%
2003
1
,





2002 2 10
Chubb , SOK
Chubb Plc

95% 10



IMF

27

focussupport
accelerate
GROWTH


( : )

2002

2001

2000

432,402

361,029

307,182

( )

61.06%

61.86%

63.00%

238,020

204,315

165,781

( )

33.61%

35.00%

34.00%

Chubb

23,400

( )

3.30%

SOK

14,341

18,308

14,628

( )

2.03%

3.14%

3.00%

708,163

583,652

487,591

( )

100%

100%

100%

Chub
3%

SO K
2%

Network
1
1999 2000
64% 60 %
2002 61%

CAPS
99 Tyco International

10%


3%
2002 Chubb

34%

61%

: 2002

22%
20%
Tyco International
99%

10.0%

Chubb Security
Korea

Chubb Security
100%

( : )

1999 1 Tyco

2000 9

2002.12

427,671,116

432,401,989

35,337,008

2002.12

42,648,481

23,479,582

-1,971,009

2002.09

141,157,917

238,018,963

-2,986,229

na

na

na

na

2001.12

1,672,174

4,807,208

-4,809,874

2001.12

13,588,010

15,606,907

3,064,439

2000.12

1,846,744

1,002,475

-75,829

2001.12

4,895,176

22,389,478

-48,865

2002.12

10,531,073

21,712,371

129,116

GS

28

focussupport
accelerate
GROWTH

( : )






IMF
.


, KT Linkus




,
. (= - )


29

focussupport
accelerate
GROWTH


KT Linkus Task Force Team (TFT)
, ,
M&A
/ KT Linkus
.

KT
KT Linkus
Linkus TFT
TFT

Engagement
EngagementLeader
Leader
/Project
/ProjectManagement
Management

M&A
M&ALead
Lead
Advisory
Advisory

Due
Due diligence
diligence
/Transaction
/TransactionSupport
Support

M&A
M&A

31

focussupport
accelerate
GROWTH

KT Linkus,
.

33

focussupport
accelerate
GROWTH

(Retainer Fee)
1 ( ) 50 ( )

(Incentive Fee)
KT Linkus

10
10 ~ 30
30 ~ 70
70 ~ 100
100

5%
4.5%
4%
3.5%
3%


,
.
.

35

focussupport
accelerate
GROWTH

Partner

20

400,000

8,000,000

Manager

240

150,000

36,000,000

Staff

240

90,000

21,600,000

65,600,000

DC

15,600,000

500

50,000,000

: 30 (1 8 )

36

focussupport
accelerate
GROWTH

1 :

22 , ,
, OPENTIDE CEO, KPMG London,
KPMG Consulting
.

Work out Due diligence
KM (Knowledge Management) System

M&A Seller side advisor
( ) M&A , Buyer side Advisor

1995 Corporate Finance
, KPMG Corporate Finance Seoul London 6
, .


- Golden Harvest / India Ramagandam Power Plant
- /
- UK TTPCom Mobysis

- India DDML /Marina Ocean Resort/
/KORAD

- / / / /

38

focussupport
accelerate
GROWTH

1 : ( )


12 ,
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114




KT
KT


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KT

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39

focussupport
accelerate
GROWTH

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KPMG Corporate Finance ,
,
Corporate Finance
. ,
M&A, Valuation, .

, , ,


IPO .M&A Researcher, ,
, , M
.

-

/
Recovery Plan

NPL Financial Advisor 12 (2 )
NPL Buyer Advisor

40

focussupport
accelerate
GROWTH

2 :

ADVISOR
ADVISOR

ABAS
ABAS

M&A
M&A

ABAS
ABAS

FAS
FAS

Due
Due
Diligence
Diligence

FAS
FAS

STIIS
STIIS

2000.4
2000.4

Package
Package

MIS,
MIS,ERP
ERP

Maintenan
Maintenan
ce
ce
SonicWall
SonicWall

41

focussupport
accelerate
GROWTH

3 :

Daedong
Shipbuilding Co.,
Ltd.

2003 2

Korea Deposit
Insurance
Corporation

2000 10

2001 10

Woosung Tire
Corporation

Samsung Motors
Inc.

2000 9

Volvo Construction
Equipment Co.
(VCE)

1998 9

1999 5

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