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to grow by 160.2% to reach KRW 5,457.2 billion

do .

Section 2 Cash flow estimation

In cash flow estimation, future cash flow is also called free cash flow or free cash flow . I

t can be calculated through the following procedure .
First , the investment amount was invested by Giga Korea Co., Ltd. Numbers for
14)
Assume 30 billion won invested to build the main platform .
Second , the expected sales from 2022 to 2026 can be referenced .

Third , net profit, which is the operating profit after tax, can be referred to < Table 3-3> .
Fourth , depreciation costs before product launch are calculated annually

20% , or 6 billion won, was distributed each .
Fifth , the amount of capital expenditures ( development costs ) before product launch is f

rom 2011 to 2021
Giga Korea invested 30 billion won to commercialize the numeric domain platform.

It is assumed .
Sixth , the capital expenditure after product launch can be calculated as follows .

Here, the capital expenditure is not the development cost, but refers to the annual invest
ment amount to increase the company's value after commercializing a new product .

In other words , capital expenditures include tangible assets ( land , buildings , structures ,
machinery , equipment, etc. ) and intangible assets ( goodwill , industrial property rights ,

licenses and franchises , copyrights , computer software , etc.) held for a long period of
time for the purpose of use in business activities. , development costs , rental rights , mini

ng rights, fishing rights, etc. ) . 15)
In principle, capital expenditures must be estimated directly, but if direct estimation is diffi

cult, they can be estimated using the average financial information of the same industry .

14) Kim Shin-pyo (2019.9.4.), Value Creation Management and Evaluation [ Revised Edition ], pp. 112-
QR 113 .
15) Assuming that there would be no investment in new facilities and equipment in this project , the unit
value of capital expenditures was estimated using the financial information of eBay Korea, a representativ
e e-commerce company .
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