현재의 한화케미칼 문제점[1]
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<P style="TEXT-ALIGN: center"><STRONG><SPAN style="COLOR: #000000; FONT-SIZE: 11pt">사업</SPAN></STRONG></P>
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<P style="TEXT-ALIGN: center"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><STRONG><SPAN style="FONT-SIZE: 11pt"> 문제점</SPAN></STRONG></SPAN></P></TD>
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<P style="TEXT-ALIGN: center"><STRONG><SPAN style="FONT-SIZE: 11pt"> </SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 11pt">우려사항</SPAN></SPAN></STRONG></P></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #000000"><SPAN style="COLOR: #ff0000"><SPAN style="FONT-SIZE: 10pt"></SPAN><STRONG><SPAN style="FONT-SIZE: 10pt">1.</SPAN></STRONG><SPAN style="FONT-SIZE: 10pt"> </SPAN><STRONG><SPAN style="COLOR: #6600ff; FONT-SIZE: 10pt">이라크 투자</SPAN></STRONG></SPAN></SPAN></SPAN></P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> * 천문학적인 투자비에 대한 <STRONG><SPAN style="COLOR: #ff0000">구체적 자금</SPAN></STRONG></SPAN></SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><STRONG><SPAN style="COLOR: #ff0000"> </SPAN></STRONG></SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><STRONG><SPAN style="COLOR: #ff0000">조달</SPAN></STRONG>에 </SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt">대한 </SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt">언급없음 </SPAN></P></TD>
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<P><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #000000"><SPAN style="COLOR: #660033"> 대규모<STRONG> </STRONG></SPAN></SPAN><SPAN style="COLOR: #660033"><STRONG><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400; FONT-SIZE: 11pt">유상증자 가능성</SPAN><SPAN style="FONT-SIZE: 11pt"> </SPAN></STRONG></SPAN></SPAN></P>
<P><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #660033"><STRONG><SPAN style="FONT-SIZE: 11pt"> </SPAN></STRONG>대두</SPAN></SPAN></P></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #ff0000"><STRONG><SPAN style="FONT-SIZE: 10pt">2.</SPAN></STRONG><SPAN style="FONT-SIZE: 10pt"> </SPAN><SPAN style="COLOR: #6600ff"><STRONG><SPAN style="FONT-SIZE: 10pt">미국 셰일</SPAN></STRONG></SPAN></SPAN><SPAN style="COLOR: #6600ff"><STRONG><SPAN style="FONT-SIZE: 10pt">가스 투자</SPAN></STRONG></SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #6600ff"><STRONG><SPAN style="FONT-SIZE: 10pt"></SPAN></STRONG></SPAN></SPAN> </P></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #ff0000"><SPAN><STRONG>3. </STRONG></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 10pt"><STRONG><SPAN style="COLOR: #ff007f; FONT-SIZE: 8pt">HD203</SPAN> <SPAN style="COLOR: #290066; FONT-SIZE: 9pt">바이오시밀</SPAN><SPAN style="COLOR: #290066; FONT-SIZE: 9pt">러</SPAN></STRONG></SPAN></SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #ff0000"><SPAN style="COLOR: #000000; FONT-SIZE: 10pt"><STRONG><SPAN style="COLOR: #290066; FONT-SIZE: 9pt"></SPAN></STRONG></SPAN></SPAN></SPAN> </P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"><SPAN style="COLOR: #290066">*</SPAN></SPAN><SPAN style="COLOR: #290066"> </SPAN><FONT color=#333333><SPAN style="COLOR: #290066">2012년 9월~</SPAN><SPAN style="COLOR: #290066">2013년 9월까지 법적 판매</SPAN><SPAN style="COLOR: #290066">허가</SPAN><SPAN style="COLOR: #290066"> 받지</SPAN></FONT></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066">못해 2013년</SPAN></FONT></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066"> 9월</SPAN></FONT></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066"> <STRONG><SPAN style="COLOR: #ff0000">판매</SPAN></STRONG></SPAN><STRONG><SPAN style="COLOR: #ff0000">허가 신청</SPAN><SPAN style="COLOR: #ff0000"> 자진 취하<SPAN style="COLOR: #000000">→</SPAN></SPAN></STRONG></FONT></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066">2014년</SPAN><SPAN style="COLOR: #290066"> 2Q </SPAN><SPAN style="COLOR: #290066">판매허가 재</SPAN><SPAN style="COLOR: #290066">신청</SPAN><SPAN style="COLOR: #290066"> 계획</SPAN></FONT></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066"> * 미국 머크社 판매계약 취소</SPAN></FONT></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><FONT color=#333333><SPAN style="COLOR: #290066"> </SPAN></FONT></SPAN></P></TD>
<TD style="BORDER-BOTTOM: #ccc 1px solid; BACKGROUND-COLOR: #f2cb61; WIDTH: 179px; HEIGHT: 24px; BORDER-RIGHT: #ccc 1px solid"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #660033"> <SPAN style="COLOR: #290066">바이오시밀</SPAN></SPAN><SPAN style="COLOR: #290066">러 <SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400"><STRONG>없던 일</STRONG></SPAN> ?</SPAN></SPAN></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #ff0000; FONT-SIZE: 8pt"><SPAN style="FONT-SIZE: 10pt"></SPAN><STRONG><SPAN style="FONT-SIZE: 10pt">4.</SPAN></STRONG><SPAN style="FONT-SIZE: 10pt"> </SPAN><SPAN style="COLOR: #6600ff"><STRONG><SPAN style="FONT-SIZE: 10pt">태양광 폴리실리콘</SPAN></STRONG></SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #ff0000; FONT-SIZE: 8pt"><SPAN style="COLOR: #6600ff"><STRONG><SPAN style="FONT-SIZE: 10pt"></SPAN></STRONG></SPAN></SPAN> </P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff">* 추정 </SPAN><SPAN style="COLOR: #0055ff">BEP 생산단가 <STRONG><SPAN style="COLOR: #ff0000">25 달러</SPAN></STRONG></SPAN><SPAN style="COLOR: #0055ff"><STRONG><SPAN style="COLOR: #ff0000">/KG</SPAN></STRONG>, </SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff">이제</SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> </SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff">시장에서 판매단가 </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> </SPAN><SPAN style="COLOR: #0055ff"><STRONG><SPAN style="COLOR: #ff0000">20달러/KG </SPAN></STRONG>넘고 있</SPAN><SPAN style="COLOR: #0055ff">음</SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"><SPAN style="COLOR: #000000"><STRONG>→</STRONG>ⓐ</SPAN>생산단가 줄어들기 전까지, 판매단가 </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> 올라가기 전까진 손실은 커짐</SPAN></SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"> <FONT color=#000000>ⓑ</FONT></SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt">자가소비 [<SPAN style="COLOR: #000000">0.8만톤</SPAN>]하더라도 </SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff">1만</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> 톤 생산 판매하면</SPAN></SPAN><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"> 그 갭만큼 손실 발생</SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> * 중국 수출時 <STRONG><SPAN style="COLOR: #ff0000">관세율 12.3%</SPAN></STRONG>도 영향을 미침</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff"> * 초고순도아닌 단순 <STRONG><SPAN style="COLOR: #ff0000">나인-나인급</SPAN></STRONG>으로 알려져있음.</SPAN></SPAN></P>
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<P><SPAN style="COLOR: #660033; FONT-SIZE: 8pt"> 회사는 이런 거에 </SPAN><SPAN style="COLOR: #660033; FONT-SIZE: 8pt">대한 궁금증 </SPAN></P>
<P><SPAN style="COLOR: #660033; FONT-SIZE: 8pt"> 해소 </SPAN><SPAN style="COLOR: #660033; FONT-SIZE: 8pt"><STRONG><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400">언급 없음</SPAN></STRONG></SPAN></P></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #ff0000; FONT-SIZE: 8pt"><STRONG><SPAN style="FONT-SIZE: 10pt"> 5.</SPAN></STRONG><SPAN style="FONT-SIZE: 10pt"> </SPAN><STRONG><SPAN style="COLOR: #000000; FONT-SIZE: 10pt">2차전지 양극재</SPAN></STRONG></SPAN></P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"> </SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><SPAN style="COLOR: #290066">* 지금 <STRONG><SPAN style="COLOR: #ff0000">테슬러</SPAN></STRONG> 전기차에 대한 효과로 2차전지 성장</SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #290066">하고 있지만, </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #290066"> <STRONG><SPAN style="COLOR: #ff0000">물질특허</SPAN></STRONG> 받은 지 언제인데 양극재 판매하고 </SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #290066">있</SPAN><SPAN style="COLOR: #290066">단 말이</SPAN><SPAN style="COLOR: #290066"> 없음</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #290066"></SPAN><SPAN style="COLOR: #290066"> </SPAN><SPAN style="COLOR: #290066"> </SPAN></SPAN></P></TD>
<TD style="BORDER-BOTTOM: #ccc 1px solid; BACKGROUND-COLOR: #f2cb61; WIDTH: 179px; HEIGHT: 24px; BORDER-RIGHT: #ccc 1px solid"><SPAN style="COLOR: #660033; FONT-SIZE: 8pt"> <SPAN style="COLOR: #290066">2차전지 양극재 <STRONG><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400">효과</SPAN><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400"> </SPAN><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400">꽝</SPAN></STRONG> ?</SPAN></SPAN></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #ff0000; FONT-SIZE: 8pt"><SPAN style="FONT-SIZE: 10pt"> </SPAN><STRONG><SPAN style="FONT-SIZE: 10pt">6. </SPAN><SPAN style="COLOR: #6600ff; FONT-SIZE: 10pt">갤러리아 백화점</SPAN></STRONG></SPAN></P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt">* 2008년 대우조선 M&A시 자금 조달</SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #0055ff">계</SPAN><SPAN style="COLOR: #0055ff">획으로 매각한다고 했음</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"> * 2013.09.30 현재 <STRONG><SPAN style="COLOR: #ff0000">토지 장부가 8,775 억</SPAN></STRONG></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #0055ff; FONT-SIZE: 8pt"><STRONG><SPAN style="COLOR: #ff0000"></SPAN></STRONG> </SPAN></P></TD>
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<P><SPAN style="COLOR: #660033; FONT-SIZE: 8pt"> 석유화학. 태양광, 바이오시밀러와</SPAN></P>
<P><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #660033"> </SPAN><SPAN style="COLOR: #660033">무관한 백화점을 매각않고, </SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #660033">보유</SPAN></SPAN></P>
<P><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="COLOR: #660033"> 함으로써 대주주 </SPAN></SPAN><SPAN style="COLOR: #000000; FONT-SIZE: 8pt"><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400"><STRONG>私有</STRONG></SPAN><SPAN style="COLOR: #660033"><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400"><STRONG>재산화</STRONG></SPAN> ?</SPAN><SPAN style="COLOR: #660033"> </SPAN></SPAN></P></TD></TR>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"> <STRONG><SPAN style="COLOR: #ff0000">7.</SPAN> 대우조선 M&A </STRONG></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><STRONG> 이행보증금</STRONG> </SPAN></P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">* 대우조선 M&A 이행보증금으로 산업은행에 </SPAN><SPAN style="FONT-SIZE: 8pt">납부한</SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> <STRONG><SPAN style="COLOR: #ff0000">한화케미칼</SPAN></STRONG></SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"><STRONG><SPAN style="COLOR: #ff0000"> 부담금 1,903억</SPAN></STRONG>에 대한 반환소송에서 </SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">1,2심 원고 </SPAN><SPAN style="FONT-SIZE: 8pt">패소해 상고심</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> 도 패소 가능성</SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> 있는데, 회사에 손실을 끼친 </SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">책임은 누가 지나?</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"></SPAN></SPAN> </P></TD>
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<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> 1,903억 몰수 당한 책임은 과연</SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> </SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">경영진의 </SPAN><SPAN style="FONT-SIZE: 8pt"><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400"><STRONG>경영판단</STRONG></SPAN></SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">인</SPAN><SPAN style="FONT-SIZE: 8pt">지 아니면 </SPAN></SPAN></P>
<P style="TEXT-ALIGN: left"><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt"> 경영진의 </SPAN><SPAN style="BACKGROUND-COLOR: #000000; COLOR: #ffe400; FONT-SIZE: 8pt"><STRONG>배임 행위</STRONG></SPAN></SPAN><SPAN style="COLOR: #000000"><SPAN style="FONT-SIZE: 8pt">인지....</SPAN></SPAN></P></TD></TR></TBODY></TABLE></P>
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