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WIPO-IFIA INTERNATIONAL SYMPOSIUM ON THE COMMERCIALIZATION OF INVENTIONS IN THE GLOBAL MARKET

WIPO-IFIA INTERNATIONAL SYMPOSIUM ON THE COMMERCIALIZATION OF INVENTIONS IN THE GLOBAL MARKET organized by the World Intellectual Property Organization (WIPO) and the International Federation of Inventors’ Associations (IFIA) in cooperation with the Korean Intellectual Property Office (KIPO)

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WIPO-IFIA INTERNATIONAL SYMPOSIUM ON THE COMMERCIALIZATION OF INVENTIONS IN THE GLOBAL MARKET

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  1. WIPO-IFIA INTERNATIONAL SYMPOSIUM ONTHE COMMERCIALIZATION OF INVENTIONSIN THE GLOBAL MARKET organized bythe World Intellectual Property Organization (WIPO) andthe International Federation of Inventors’ Associations (IFIA) in cooperation withthe Korean Intellectual Property Office (KIPO) andthe Korea Invention Promotion Association (KIPA) Seoul, December 4 to 7, 2002 PARTNERING WITH VENTURE CAPITALISTS (VCS) AND FINANCING THE DEVELOPMENT ANDCOMMERCIALIZATION OF INVENTIONSDEVELOPMENT OF THE KOREAN VCS AND INTRODUCTION OF THE KTBNETWORK Document prepared by Mr. Yoon-Guk Ban, Executive Vice-President and Director, Venture Investment Division, KTBnetwork Company Ltd., Seoul

  2. Contents Ⅰ. Development of the Korean VC Industry · History of the Korean VC Industry · Growth of the Korean VC Industry · VC Investment Statistics Ⅱ. Introduction of KTBnetwork · General Information / KTBnetwork’s Investment Performance · Major Factors of Evaluation / Value-up Service Infra 2

  3. Ⅰ. Development of the Korean VC Industry 1. History of the Korean VC Industry - Establishment of VCs - KTAC(’74), KTDC (’81) - Legislations for supporting small business start-up(’86) - Showing-up of successful high tech start-ups – Medison, Mirae, etc. Origin (~’96.6) Building Foundation (’96.7 ~ ’99.2) - KOSDAQ – an exit market for high tech companies (’96.7) - Special Act for establishing and supporting venture companies (’97) Expansion (’99.2 ~ ’00.4) - Expansion of KOSDAQ and increase of IPO - Rapid growth of venture capital (no. & investment amount) Depression (’00.4~ ) - Collapse of bubble (2000.4.17 black monday) - Depression of IPO market and decrease in investment 3

  4. Ⅰ. Development of the Korean VC Industry 2. KOSDAQ Market < KOSDAQ Index> - Declining since May 10, 2000 (Highest Index : 292.55) - Depressed IPO market since bubble of IT burst (No. of IPO : 187(’00) → 170(’01) → 131(~’02.10)) 4

  5. Ⅰ. Development of the Korean VC Industry 3. Growth of the Korean VCs (Unit : KRW billions) Notes: 1. Only for the VCs under the supervision of SMBA(Small & Medium Business Administration) 2. Source : Korean Venture Capital Association 5

  6. Ⅰ. Development of the Korean VC Industry IT/Telecommunications & Internet Revolution Government Support for the VC Industry Transformation of the Industrial Landscape from Chaebols to Small Businesses or Ventures 4. Major Factors Impacting the Growth of VC Industry Rapid Growth of the Venture Industry Exponential Growth of VC Financial Restructuring 6

  7. Ⅰ. Development of the Korean VC Industry 5. VC Investment Statistics (1998~2001) Notes: 1. Only for the VCs under the supervision of SMBA 2. Source : SMBA 7

  8. Ⅰ. Development of the Korean VC Industry 6. VC Investment by Industry 1998~2001 Notes: 1. Only for the VCs under the supervision of SMBA 2. Source : SMBA 8

  9. Ⅰ. Development of the Korean VC Industry 7. VC Investment Comparison to US 2001 Notes: Source : PWC, Soft Bank Research 9

  10. Ⅱ. Introduction of KTBnetwork 1. General Information - Largest VC firm for the past 21years since its establishment - 1981. 5 Establishment - 1996.11 Listed on KSE - 1999. 3 Privatization History (Unit : KRW billions) Financial Performance 10

  11. Ⅱ. Introduction of KTBnetwork 2. KTBnetwork’s Investment Performance Annual New Investment (Unit : KRW billions) As of June 30, 2002 11

  12. Ⅱ. Introduction of KTBnetwork 2. KTBnetwork’s Investment Performance Performance IPO 12

  13. Ⅱ. Introduction of KTBnetwork Non-IT KRW 140bil (34%) IT KRW 273bil (66%) Others KRW 22bil (3%) CRC KRW 283 (39%) Venture KRW 413bil (58%) More than 8years KRW 37bil (9%) Less than 3years KRW 264bil (64%) 3~8years KRW 112bil (27%) 2. KTBnetwork’s Investment Performance - Total Amount Invested : KRW 718bil 2000~2001 By Industy By Stage 13

  14. Ⅱ. Introduction of KTBnetwork 3. KTBnetwork’s Venture Portfolio by Industry (Unit : KRW billions) 14

  15. Ⅱ. Introduction of KTBnetwork 4. KTBnetwork’s Venture Portfolio by Stage (Unit : KRW billions) 15

  16. Ⅱ. Introduction of KTBnetwork 5. Investment Decision Process Identification of Funding Needs Inspection, Evaluation and Due Diligence Valuation and Negotiation Investment Committee Decision Making, Signing Contract and Financing Value up Service and EXIT 16

  17. Ⅱ. Introduction of KTBnetwork 6. Major Factors of Evaluation - Revenue/Profit Projection, Market Size - Competitors, Entry barrier - Benchmarking Similar Listed Co. Profitability - Technical Entry Barrier - Maintaining Competitive Advantages - Human Resourcese for R&D Core Competitive Power Others - VC’s Investment Policy - Payback Period Management - Experience and Background - Personality, Morality - Cooperativeness with VC 17

  18. Ⅱ. Introduction of KTBnetwork 7. Value-up Service Infra Development Start-up Growth Maturity ▶ Step - Review of Technology and Market - Establishment of Business Plan - Marketing - Human Resource Services • - IPO • Value-up ▶ Service ▶ Value-up Infra • Venture • Investment • Law/Tax • Consulting • Business • Consulting • Listing on • KSE/KOSDAQ • IR / PR • Marketing/ • Promotion • M&A • KTBnetwork • Fund Raising • Human • Resources • KTB-i • Venture • Advisory • Internet • Advisory • E-Business • evaluation • center 18

  19. network KTB Thank you · 822-3466-2000 · www.ktb.co.kr

  20. WIPO-IFIA INTERNATIONAL SYMPOSIUM ONTHE COMMERCIALIZATION OF INVENTIONSIN THE GLOBAL MARKET organized bythe World Intellectual Property Organization (WIPO) andthe International Federation of Inventors’ Associations (IFIA) in cooperation withthe Korean Intellectual Property Office (KIPO) andthe Korea Invention Promotion Association (KIPA) Seoul, December 4 to 7, 2002 PARTNERING WITH VENTURE CAPITALISTS (VCS) AND FINANCING THE DEVELOPMENT ANDCOMMERCIALIZATION OF INVENTIONSDEVELOPMENT OF THE KOREAN VCS AND INTRODUCTION OF THE KTBNETWORK Document prepared by Mr. Yoon-Guk Ban, Executive Vice-President and Director, Venture Investment Division,KTBnetwork Company Ltd., Seoul

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