{"id":11084,"date":"2026-01-12T21:09:30","date_gmt":"2026-01-13T00:09:30","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=11084"},"modified":"2026-01-12T21:09:31","modified_gmt":"2026-01-13T00:09:31","slug":"%ea%b2%bd%ec%a0%9c-%ec%86%8c%ec%8b%9d-%ed%99%98%ec%9c%a8-%ed%95%98%eb%9d%bd-%ec%95%95%eb%b0%95%eb%b0%9b%eb%8a%94-%ea%b8%88%eb%a6%ac","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=11084","title":{"rendered":"[\uacbd\uc81c \uc18c\uc2dd] \ud658\uc728 \ud558\ub77d, \uc555\ubc15\ubc1b\ub294 \uae08\ub9ac"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/hanin.org.ar\/wp-content\/uploads\/2026\/01\/download-6.jpg\" alt=\"\" class=\"wp-image-11085\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uacbd\uc81c \uc18c\uc2dd<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud658\uc728 \ud558\ub77d, \uc555\ubc15\ubc1b\ub294 \uae08\ub9ac<br>\uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc740 \uccab \uc8fc\uc5d0 \ud558\ub77d\ud55c \ub4a4 \uc18c\ud3ed \uc0c1\uc2b9\ud558\uba70 \ud55c \uc8fc\ub97c \uc2dc\uc791\ud588\ub2e4. \uc774\ub294 \uc911\uc559\uc740\ud589(BCRA)\uc758 \uc678\ud658\ubcf4\uc720\uc561 \ub9e4\uc785\uacfc \ubbf8\ud654 42\uc5b5 \ub2ec\ub7ec\uc758 \ubd80\ucc44 \uc0c1\ud658\uc774 \ub3d9\uc2dc\uc5d0 \uc774\ub8e8\uc5b4\uc9c4 \ub9e5\ub77d \uc18d\uc5d0\uc11c \ub098\ud0c0\ub09c \uc6c0\uc9c1\uc784\uc774\ub2e4.<br>\ub3c4\ub9e4 \ud658\uc728\uc740 1,466\ud398\uc18c, \uad6d\ub9bd\uc740\ud589 \uc18c\ub9e4 \ud658\uc728\uc740 1,490\ud398\uc18c\ub85c \uc0c1\uc2b9\ud588\uc73c\uba70, \ube14\ub8e8 \ub2ec\ub7ec\ub294 1,510\ud398\uc18c \uc218\uc900\uc5d0 \uc788\ub2e4. \uae08\uc735 \ub2ec\ub7ec\ub4e4\uc740 \uc804\ubc18\uc801\uc73c\ub85c \ubcf4\ud569 \ub0b4\uc9c0 \uc18c\ud3ed \ud558\ub77d\uc138\ub97c \ubcf4\uc600\ub2e4.<br>\ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ub2e8(\ucc9c\uc7a5)\uc740 \ub2e4\uc2dc 5%\ub97c \uc0c1\ud68c\ud588\ub294\ub370, \uc774\ub294 \ud604 \ud658\uc728 \uccb4\uc81c\uac00 \uc5ec\uc804\ud788 \uc544\uc2ac\uc544\uc2ac\ud55c \uade0\ud615 \uc704\ub97c \uac77\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud558\ub294 \uc2e0\ud638\ub2e4.<br>\uc678\ud658\ubcf4\uc720\uc561\uc740 \ub298\uc9c0\ub9cc, \uc2dc\uc7a5\uc740 \uc758\uad6c\uc2ec\uc744 \ubcf4\uc600\ub2e4.<br>\uc2dc\uc7a5 \ucd94\uc815\uc5d0 \ub530\ub974\uba74 \uc9c0\ub09c\uc8fc\ub294 \ub2e4\uc18c \ubd88\ud3b8\ud55c \uc7a5\uba74\uc744 \ub0a8\uacbc\ub2e4. BCRA\ub294 \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\ub294 \ud55c\ud3b8, \uc7ac\ubb34\uccad\uc740 \ud658\uc728\uc774 \ubc34\ub4dc \uc0c1\ub2e8\uc5d0 \ub2ff\ub294 \uac83\uc744 \ub9c9\uae30 \uc704\ud574 \ub2ec\ub7ec\ub97c \ub9e4\ub3c4\ud588\ub2e4.<br>\uadf8 \uacb0\uacfc\ub294 \u2018\ub2e8\uae30(short) \uc2dc\uc7a5\u2019\uc774\ub2e4. \uc989, \uc678\ubd80 \uc2e0\uc6a9\uc5d0 \uc811\uadfc\ud558\uc9c0 \ubabb\ud55c \uc0c1\ud0dc\uc5d0\uc11c \uc678\ud658\ubcf4\uc720\uc561\uc744 \uc313\uae30 \uc704\ud574 \uc810\uc810 \ub354 \uc815\uad50\ud55c \uc870\uce58\uac00 \ud544\uc694\ud574\uc9c0\uace0, \uc2e4\uc218\uc758 \uc5ec\uc9c0\uac00 \uc904\uc5b4\ub4dc\ub294 \uad6c\uc870\uac00 \ub418\uace0 \uc788\ub2e4\ub294 \ub73b\uc774\ub2e4.<br>\ud658\uc728\uc744 \ub20c\ub7ec\ub450\ub294 \ube44\uc6a9: \uae08\ub9ac<br>Econviews \uacbd\uc81c\uc5f0\uad6c\uc18c\uc5d0 \ub530\ub974\uba74 \ud575\uc2ec \uc9c8\ubb38\uc740 \ud658\uc728\uc744 \uc6c0\uc9c1\uc774\uc9c0 \uc54a\uace0\ub3c4 \ubcf4\uc720\uc561\uc744 \uacc4\uc18d \uc313\uc744 \uc218 \uc788\ub290\ub0d0\uc774\ub2e4. \uadf8\uc5d0 \ub300\ud55c \ubd80\ubd84\uc801 \ub2f5\uc740 \uc774\ubbf8 \uae08\ub9ac\uc5d0\uc11c \ub098\ud0c0\ub0ac\ub2e4.<br>\uacc4\uc808\uc801 \ud604\uae08 \uc218\uc694 \uc99d\uac00\ub85c \uc740\ud589 \uc720\ub3d9\uc131\uc774 \uae34\uc7a5\ub418\uc5c8\uace0, \uc774\ub85c \uc778\ud574 \ub2e8\uae30 \uae08\ub9ac\ub294 \ub192\uace0 \ubcc0\ub3d9\uc131 \ud070 \uc218\uc900\uc73c\ub85c \ubc00\ub824 \uc62c\ub77c\uac14\ub2e4.<br>\uc815\ubd80\uc758 \uc554\ubb35\uc801 \uba54\uc2dc\uc9c0\ub294 \ubd84\uba85\ud574 \ubcf4\uc778\ub2e4. \ud658\uc728 \uc0c1\uc2b9\ubcf4\ub2e4\ub294 \uace0\uae08\ub9ac\ub97c \uc120\ud0dd\ud558\uaca0\ub2e4\ub294 \uac83\uc774\ub2e4.<br>\uc624\ub298\uc740 \ub2ec\ub7ec\uac00 \uc8fc\ub3c4\ud558\uace0, \uae08\ub9ac\ub294 \uac70\uae30\uc5d0 \ub9de\ucdb0 \uc801\uc751\ud55c\ub2e4.<br>\ucc44\uad8c: \uc9c0\uae09 \uc644\ub8cc, \uaca9\ucc28 \uc555\ucd95<br>2026\ub144\uc758 \uccab \ubc88\uc9f8 \ud070 \uc2dc\ud5d8\uc774\uc5c8\ub358 \ubbf8\ud654 43\uc5b5 8,200\ub9cc \ub2ec\ub7ec \uc0c1\ud658\uc744 \ubb34\uc0ac\ud788 \ub118\uae34 \ub4a4, \uae00\ub85c\ubc8c \ucc44\uad8c\uc740 \uc8fc\uac04 \uae30\uc900 \ud3c9\uade0 0.3% \ud558\ub77d\uc73c\ub85c \ub9c8\uac10\ud588\ub2e4. \ubc18\uba74 \ubcf4\ub098\ub808\uc2a4(Bonares) \ucc44\uad8c\uc740 0.3%~1.7% \uc0c1\uc2b9\ud588\ub2e4.<br>\uadf8 \uacb0\uacfc\ub294 \ubc95\ub960 \uad00\ud560\uc5d0 \ub530\ub978 \uaca9\ucc28\uc758 \uac15\ud55c \uc555\ucd95\uc774\uc5c8\ub2e4. \uc989, \uc544\ub974\ud5e8\ud2f0\ub098 \ubc95 \uc801\uc6a9 \ucc44\uad8c\uacfc \ub274\uc695\ubc95 \uc801\uc6a9 \ucc44\uad8c \uac04 \uae08\ub9ac\ucc28\uac00 \ub2e8\uae30 \uad6c\uac04\uc5d0\uc11c 200bp \uc218\uc900\uae4c\uc9c0 \ucd95\uc18c\ub418\uc5c8\ub2e4. \uc774\ub294 \uc544\ub974\ud5e8\ud2f0\ub098 \ubc95 \ucc44\uad8c\uc774 \ub2e4\uc2dc \uc8fc\ubaa9\ubc1b\uac8c \ub9cc\ub4dc\ub294 \uc6c0\uc9c1\uc784\uc774\ub2e4.<br>\ud398\uc18c \ubd80\uc871, \uae34\uc7a5\ub41c \uc218\uc775\ub960 \uace1\uc120 :<br>\ud398\uc18c \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc720\ub3d9\uc131 \ubd80\uc871\uc774 \uc9c0\ubc30\uc801\uc774\uc5c8\ub2e4.<br>\ud558\ub8e8\uc9dc\ub9ac \ub2f4\ubcf4 \ucf5c \uae08\ub9ac\ub294 \ud3c9\uade0 TNA (\uba85\ubaa9 \uc5f0\uc774\uc728, \ub2e8\ub9ac) 45%, \uc7a5\uc911 \ucd5c\uace0\uce58\ub294 70%\uc5d0 \ub2ec\ud588\ub2e4.<br>\uc7a5 \ub9c8\uac10 \ubb34\ub835\uc5d0\ub294 \ub2e4\uc18c \uc644\ud654 \uc870\uc9d0\uc774 \ub098\ud0c0\ub098 LECAP\uacfc BONCAP\uc774 \uc8fc\uac04 \uae30\uc900 \uc6d4\uac04 \uc720\ud6a8\uae08\ub9ac(TEM) \uc57d 2.5~2.8% \uc218\uc900\uc5d0\uc11c \ub9c8\uac10\ud588\ub2e4.<br>\uadf8\ub7ec\ub098 \uba54\uc2dc\uc9c0\ub294 \uc5ec\uc804\ud788 \uac19\ub2e4. \ud398\uc18c\uc758 \uac00\uce58\uac00 \uc720\uc9c0\ub418\uace0 \uc788\ub2e4\ub294 \uac83\uc774\ub2e4.<br>\ubbf8\uad6d\uacfc\uc758 \uc2a4\uc651: \uac74\uc124\uc801\uc778 \uc2e0\ud638<br>BCRA\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc640\uc758 \ud1b5\ud654\uc2a4\uc651 \uc911 \uc774\ubbf8 \uc0ac\uc6a9\ud55c \uc790\uae08(\uc57d 25\uc5b5 \ub2ec\ub7ec)\uc744 \uc0c1\ud658\ud588\ub2e4.<br>\uc774 \uac70\ub798\ub294 \ubcf4\uc720\uc561\uc774 \uc544\ub2c8\ub77c \uad6d\uc81c\uae30\uad6c \ub300\ucd9c\ub85c \uc870\ub2ec\ub41c \uac83\uc73c\ub85c \ubcf4\uc774\uba70, \uad6d\uc81c\uacb0\uc81c\uc740\ud589(BIS)\uc73c\ub85c \ucd94\uc815\ub41c\ub2e4.<br>\ud574\uc11d\uc740 \uae0d\uc815\uc801\uc774\ub2e4. \ucd5c\uc885 \ub300\ubd80\uc790\uc5d0 \ub300\ud55c \uc758\uc874\ub3c4\uac00 \ub0ae\uc544\uc9c0\uace0, \uc911\uc559\uc740\ud589\uc758 \ub300\ucc28\ub300\uc870\ud45c\uac00 \ud55c\uce35 \uc815\ub3c8\ub418\uc5c8\ub2e4\ub294 \uc758\ubbf8\ub2e4.<br>\uc7ac\ubb34\ubd80 \uc785\ucc30: \ud575\uc2ec \uc2dc\ud5d8\ub300<br>\uc774\ubc88 \uc8fc \uc218\uc694\uc77c\uc5d0\ub294 2026\ub144 \uccab \ud398\uc18c\ud654 \uad6d\ucc44 \uc785\ucc30\uc774 \uc608\uc815\ub418\uc5b4 \uc788\uc73c\uba70, \ub9cc\uae30 \uaddc\ubaa8\ub294 9\uc870 5,900\uc5b5 \ud398\uc18c, \uadf8\uc911 92%\uac00 \ubbfc\uac04 \ubcf4\uc720\ubd84\uc774\ub2e4.<br>\ud398\uc18c \uc608\uae08\uc774 \uba85\ubc31\ud788 \ubd80\uc871\ud55c \uc0c1\ud669\uc5d0\uc11c, \uc7ac\ubb34\ubd80\ub294 \ub192\uc740 \ub864\uc624\ubc84\uc728\uc774 \ud544\uc694\ud558\uba70, \uc774\ub294 \ub192\uc740 \uae08\ub9ac\uc640 \uc801\uc740 \uc720\ub3d9\uc131\uc774\ub77c\ub294 \uae4c\ub2e4\ub85c\uc6b4 \ud658\uacbd \uc18d\uc5d0\uc11c \uc9c4\ud589\ub41c\ub2e4.<br>\ub2e8\uc21c\ud55c \uc785\ucc30\uc774 \uc544\ub2c8\ub2e4.<br>\uad11\uc5c5\uacfc RIGI (\ub300\uaddc\ubaa8\ud22c\uc790\uc778\uc13c\ud2f0\ube0c): \ud638\uc7ac\ub97c \ub354\ud558\ub294 \uc6c0\uc9c1\uc784<br>\ub9ac\uc624 \ud2f4\ud1a0(Rio Tinto)\uc640 \uae00\ub80c\ucf54\uc5b4(Glencore) \uac04\uc758 \ud569\ubcd1 \uac00\ub2a5\uc131 \uc18c\ubb38\uc740, \uc131\uc0ac\ub420 \uacbd\uc6b0 \uc138\uacc4 \ucd5c\ub300 \uad11\uc0b0\uae30\uc5c5\uc758 \ud0c4\uc0dd\uc744 \uc758\ubbf8\ud558\uba70, \ub9ac\ud2ac\uacfc \uad6c\ub9ac \ub4f1 \uc544\ub974\ud5e8\ud2f0\ub098 \ud604\uc9c0 \ud504\ub85c\uc81d\ud2b8\uc5d0 \ub300\ud55c \uad00\uc2ec\uc744 \ub2e4\uc2dc \ubd88\ub7ec\uc77c\uc73c\ucf30\ub2e4.<br>RIGI(\ub300\uaddc\ubaa8 \ud22c\uc790 \uc778\uc13c\ud2f0\ube0c \uc81c\ub3c4)\ub97c \ubc30\uacbd\uc73c\ub85c, \uc544\ub974\ud5e8\ud2f0\ub098\ub294 \ub2e4\uc2dc \uc9c0\uc5ed \ud22c\uc790 \uc6c0\uc9c1\uc784\uc774 \ud3ec\ucc29\ub418\uace0 \uc788\ub2e4.<br>\uc815\uce58\uc801 \uc555\ubc15 \uc18d\uc758 \uc5f0\uc900(Fed) :<br>\uc5f0\uc900 \uc758\uc7a5\uc5d0 \ub300\ud55c \uc0ac\ubc95\uc801 \uc18c\ud658\uc740 \ubbf8\uad6d \uc911\uc559\uc740\ud589\uc758 \ub3c5\ub9bd\uc131\uc744 \ub458\ub7ec\uc2fc \uacbd\ubcf4\ub97c \ub2e4\uc2dc \uc6b8\ub838\ub2e4.<br>\uc6d4\uac00 \uc120\ubb3c\uc740 \ud558\ub77d\ud558\uace0, \uae00\ub85c\ubc8c \ub2ec\ub7ec\ub294 \uc57d\uc138, \ubbf8\uad6d 10\ub144\ubb3c \uad6d\ucc44\uae08\ub9ac\ub294 \uc0c1\uc2b9\ud588\ub2e4.<br>\uc815\uce58\uc640 \uc2dc\uc7a5\uc774 \ub610\ub2e4\uc2dc \uc704\ud5d8\ud560 \uc815\ub3c4\ub85c \uac00\uae4c\uc6cc\uc9c4 \ubaa8\uc2b5\uc774\ub2e4.<br>\uac00\uc0c1\uc790\uc0b0: \ubcc0\ub3d9\uc131 \uc18d \ud68c\ubcf5\ub825<br>\ube44\ud2b8\ucf54\uc778\uc740 \uc5f0\uc900\uc744 \ub458\ub7ec\uc2fc \uc0ac\ubc95 \ub9ac\uc2a4\ud06c\uc758 \uc601\ud5a5\uc774 \uc644\ud654\ub418\uba70 9\ub9cc \ub2ec\ub7ec \uc774\uc0c1\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub2e4.<br>\uc774\ub354\ub9ac\uc6c0\uacfc XRP\ub3c4 \ucd08\ubc18 \uc0c1\uc2b9\uc5d0 \ub3d9\ucc38\ud588\uc9c0\ub9cc, \uc774\ud6c4 \uc0c1\uc2b9\ubd84\uc744 \uc77c\ubd80 \ubc18\ub0a9\ud588\ub2e4.<br>\uba54\uc2dc\uc9c0\ub294 \ubd84\uba85\ud558\ub2e4. \uac00\uaca9 \uc218\uc900\uc740 \ubc84\ud2f0\uace0 \uc788\uc9c0\ub9cc, \ubcc0\ub3d9\uc131\uc740 \uc0ac\ub77c\uc9c0\uc9c0 \uc54a\uc558\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\uacbd\uc81c \uc18c\uc2dd \ud658\uc728 \ud558\ub77d, \uc555\ubc15\ubc1b\ub294 \uae08\ub9ac\uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc740 \uccab \uc8fc\uc5d0 \ud558\ub77d\ud55c \ub4a4 \uc18c\ud3ed \uc0c1\uc2b9\ud558\uba70 \ud55c \uc8fc\ub97c \uc2dc\uc791\ud588\ub2e4. \uc774\ub294 \uc911\uc559\uc740\ud589(BCRA)\uc758 \uc678\ud658\ubcf4\uc720\uc561 \ub9e4\uc785\uacfc \ubbf8\ud654 42\uc5b5 \ub2ec\ub7ec\uc758 \ubd80\ucc44 \uc0c1\ud658\uc774 \ub3d9\uc2dc\uc5d0 \uc774\ub8e8\uc5b4\uc9c4 \ub9e5\ub77d \uc18d\uc5d0\uc11c \ub098\ud0c0\ub09c \uc6c0\uc9c1\uc784\uc774\ub2e4.\ub3c4\ub9e4 \ud658\uc728\uc740 1,466\ud398\uc18c, \uad6d\ub9bd\uc740\ud589 \uc18c\ub9e4 \ud658\uc728\uc740 1,490\ud398\uc18c\ub85c \uc0c1\uc2b9\ud588\uc73c\uba70, \ube14\ub8e8 \ub2ec\ub7ec\ub294 1,510\ud398\uc18c \uc218\uc900\uc5d0 \uc788\ub2e4. \uae08\uc735 \ub2ec\ub7ec\ub4e4\uc740 \uc804\ubc18\uc801\uc73c\ub85c \ubcf4\ud569 \ub0b4\uc9c0 \uc18c\ud3ed \ud558\ub77d\uc138\ub97c \ubcf4\uc600\ub2e4.\ud658\uc728 \ubc34\ub4dc\uc758 \uc0c1\ub2e8(\ucc9c\uc7a5)\uc740 \ub2e4\uc2dc 5%\ub97c \uc0c1\ud68c\ud588\ub294\ub370, \uc774\ub294 \ud604 \ud658\uc728 \uccb4\uc81c\uac00 \uc5ec\uc804\ud788 \uc544\uc2ac\uc544\uc2ac\ud55c \uade0\ud615 \uc704\ub97c \uac77\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud558\ub294 \uc2e0\ud638\ub2e4.\uc678\ud658\ubcf4\uc720\uc561\uc740 \ub298\uc9c0\ub9cc, \uc2dc\uc7a5\uc740 \uc758\uad6c\uc2ec\uc744 \ubcf4\uc600\ub2e4.\uc2dc\uc7a5 \ucd94\uc815\uc5d0 \ub530\ub974\uba74 \uc9c0\ub09c\uc8fc\ub294 \ub2e4\uc18c \ubd88\ud3b8\ud55c \uc7a5\uba74\uc744 \ub0a8\uacbc\ub2e4. BCRA\ub294 \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\ub294 \ud55c\ud3b8, \uc7ac\ubb34\uccad\uc740 \ud658\uc728\uc774 \ubc34\ub4dc \uc0c1\ub2e8\uc5d0 \ub2ff\ub294 \uac83\uc744 \ub9c9\uae30 \uc704\ud574 \ub2ec\ub7ec\ub97c \ub9e4\ub3c4\ud588\ub2e4.\uadf8 \uacb0\uacfc\ub294 \u2018\ub2e8\uae30(short) \uc2dc\uc7a5\u2019\uc774\ub2e4. \uc989, \uc678\ubd80 \uc2e0\uc6a9\uc5d0 \uc811\uadfc\ud558\uc9c0 \ubabb\ud55c \uc0c1\ud0dc\uc5d0\uc11c \uc678\ud658\ubcf4\uc720\uc561\uc744 \uc313\uae30 \uc704\ud574 \uc810\uc810 \ub354 \uc815\uad50\ud55c \uc870\uce58\uac00 \ud544\uc694\ud574\uc9c0\uace0, \uc2e4\uc218\uc758 \uc5ec\uc9c0\uac00 \uc904\uc5b4\ub4dc\ub294 \uad6c\uc870\uac00 \ub418\uace0 \uc788\ub2e4\ub294 \ub73b\uc774\ub2e4.\ud658\uc728\uc744 \ub20c\ub7ec\ub450\ub294 \ube44\uc6a9: \uae08\ub9acEconviews \uacbd\uc81c\uc5f0\uad6c\uc18c\uc5d0 \ub530\ub974\uba74 \ud575\uc2ec \uc9c8\ubb38\uc740 \ud658\uc728\uc744 \uc6c0\uc9c1\uc774\uc9c0 \uc54a\uace0\ub3c4 \ubcf4\uc720\uc561\uc744 \uacc4\uc18d \uc313\uc744 \uc218 \uc788\ub290\ub0d0\uc774\ub2e4. \uadf8\uc5d0 \ub300\ud55c \ubd80\ubd84\uc801 \ub2f5\uc740 \uc774\ubbf8 \uae08\ub9ac\uc5d0\uc11c \ub098\ud0c0\ub0ac\ub2e4.\uacc4\uc808\uc801 \ud604\uae08 \uc218\uc694 \uc99d\uac00\ub85c \uc740\ud589 \uc720\ub3d9\uc131\uc774 \uae34\uc7a5\ub418\uc5c8\uace0, \uc774\ub85c \uc778\ud574 \ub2e8\uae30 \uae08\ub9ac\ub294 \ub192\uace0 \ubcc0\ub3d9\uc131 \ud070 \uc218\uc900\uc73c\ub85c \ubc00\ub824 \uc62c\ub77c\uac14\ub2e4.\uc815\ubd80\uc758 \uc554\ubb35\uc801 \uba54\uc2dc\uc9c0\ub294 \ubd84\uba85\ud574 \ubcf4\uc778\ub2e4. \ud658\uc728 \uc0c1\uc2b9\ubcf4\ub2e4\ub294 \uace0\uae08\ub9ac\ub97c \uc120\ud0dd\ud558\uaca0\ub2e4\ub294 \uac83\uc774\ub2e4.\uc624\ub298\uc740 \ub2ec\ub7ec\uac00 \uc8fc\ub3c4\ud558\uace0, \uae08\ub9ac\ub294 \uac70\uae30\uc5d0 \ub9de\ucdb0 \uc801\uc751\ud55c\ub2e4.\ucc44\uad8c: \uc9c0\uae09 \uc644\ub8cc, \uaca9\ucc28 \uc555\ucd952026\ub144\uc758 \uccab \ubc88\uc9f8 \ud070 \uc2dc\ud5d8\uc774\uc5c8\ub358 \ubbf8\ud654 43\uc5b5 8,200\ub9cc \ub2ec\ub7ec \uc0c1\ud658\uc744 \ubb34\uc0ac\ud788 \ub118\uae34 \ub4a4, \uae00\ub85c\ubc8c \ucc44\uad8c\uc740 \uc8fc\uac04 \uae30\uc900 \ud3c9\uade0 0.3% \ud558\ub77d\uc73c\ub85c \ub9c8\uac10\ud588\ub2e4. \ubc18\uba74 \ubcf4\ub098\ub808\uc2a4(Bonares) \ucc44\uad8c\uc740 0.3%~1.7% \uc0c1\uc2b9\ud588\ub2e4.\uadf8 \uacb0\uacfc\ub294 \ubc95\ub960 \uad00\ud560\uc5d0 \ub530\ub978 \uaca9\ucc28\uc758 \uac15\ud55c \uc555\ucd95\uc774\uc5c8\ub2e4. \uc989, \uc544\ub974\ud5e8\ud2f0\ub098 \ubc95 \uc801\uc6a9 \ucc44\uad8c\uacfc \ub274\uc695\ubc95 \uc801\uc6a9 \ucc44\uad8c \uac04 \uae08\ub9ac\ucc28\uac00 \ub2e8\uae30 \uad6c\uac04\uc5d0\uc11c 200bp \uc218\uc900\uae4c\uc9c0 \ucd95\uc18c\ub418\uc5c8\ub2e4. \uc774\ub294 \uc544\ub974\ud5e8\ud2f0\ub098 \ubc95 \ucc44\uad8c\uc774 \ub2e4\uc2dc \uc8fc\ubaa9\ubc1b\uac8c \ub9cc\ub4dc\ub294 \uc6c0\uc9c1\uc784\uc774\ub2e4.\ud398\uc18c \ubd80\uc871, \uae34\uc7a5\ub41c \uc218\uc775\ub960 \uace1\uc120 :\ud398\uc18c \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc720\ub3d9\uc131 \ubd80\uc871\uc774 \uc9c0\ubc30\uc801\uc774\uc5c8\ub2e4.\ud558\ub8e8\uc9dc\ub9ac \ub2f4\ubcf4 \ucf5c \uae08\ub9ac\ub294 \ud3c9\uade0 TNA (\uba85\ubaa9 \uc5f0\uc774\uc728, \ub2e8\ub9ac) 45%, \uc7a5\uc911 \ucd5c\uace0\uce58\ub294 70%\uc5d0 \ub2ec\ud588\ub2e4.\uc7a5 \ub9c8\uac10 \ubb34\ub835\uc5d0\ub294 \ub2e4\uc18c \uc644\ud654 \uc870\uc9d0\uc774 \ub098\ud0c0\ub098 LECAP\uacfc BONCAP\uc774 \uc8fc\uac04 \uae30\uc900 \uc6d4\uac04 \uc720\ud6a8\uae08\ub9ac(TEM) \uc57d 2.5~2.8% \uc218\uc900\uc5d0\uc11c \ub9c8\uac10\ud588\ub2e4.\uadf8\ub7ec\ub098 \uba54\uc2dc\uc9c0\ub294 \uc5ec\uc804\ud788 \uac19\ub2e4. \ud398\uc18c\uc758 \uac00\uce58\uac00 \uc720\uc9c0\ub418\uace0 \uc788\ub2e4\ub294 \uac83\uc774\ub2e4.\ubbf8\uad6d\uacfc\uc758 \uc2a4\uc651: \uac74\uc124\uc801\uc778 \uc2e0\ud638BCRA\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc640\uc758 \ud1b5\ud654\uc2a4\uc651 \uc911 \uc774\ubbf8 \uc0ac\uc6a9\ud55c \uc790\uae08(\uc57d 25\uc5b5 \ub2ec\ub7ec)\uc744 \uc0c1\ud658\ud588\ub2e4.\uc774 \uac70\ub798\ub294 \ubcf4\uc720\uc561\uc774 \uc544\ub2c8\ub77c \uad6d\uc81c\uae30\uad6c \ub300\ucd9c\ub85c \uc870\ub2ec\ub41c \uac83\uc73c\ub85c \ubcf4\uc774\uba70, \uad6d\uc81c\uacb0\uc81c\uc740\ud589(BIS)\uc73c\ub85c \ucd94\uc815\ub41c\ub2e4.\ud574\uc11d\uc740 \uae0d\uc815\uc801\uc774\ub2e4. \ucd5c\uc885 \ub300\ubd80\uc790\uc5d0 \ub300\ud55c \uc758\uc874\ub3c4\uac00 \ub0ae\uc544\uc9c0\uace0, \uc911\uc559\uc740\ud589\uc758 \ub300\ucc28\ub300\uc870\ud45c\uac00 \ud55c\uce35 \uc815\ub3c8\ub418\uc5c8\ub2e4\ub294 \uc758\ubbf8\ub2e4.\uc7ac\ubb34\ubd80 \uc785\ucc30: \ud575\uc2ec \uc2dc\ud5d8\ub300\uc774\ubc88 \uc8fc \uc218\uc694\uc77c\uc5d0\ub294 2026\ub144 \uccab \ud398\uc18c\ud654 \uad6d\ucc44 \uc785\ucc30\uc774 \uc608\uc815\ub418\uc5b4 \uc788\uc73c\uba70, \ub9cc\uae30 \uaddc\ubaa8\ub294 9\uc870 5,900\uc5b5 \ud398\uc18c, \uadf8\uc911 92%\uac00 \ubbfc\uac04 \ubcf4\uc720\ubd84\uc774\ub2e4.\ud398\uc18c \uc608\uae08\uc774 \uba85\ubc31\ud788 \ubd80\uc871\ud55c \uc0c1\ud669\uc5d0\uc11c, \uc7ac\ubb34\ubd80\ub294 \ub192\uc740 \ub864\uc624\ubc84\uc728\uc774 \ud544\uc694\ud558\uba70, \uc774\ub294 \ub192\uc740 \uae08\ub9ac\uc640 \uc801\uc740 \uc720\ub3d9\uc131\uc774\ub77c\ub294 \uae4c\ub2e4\ub85c\uc6b4 \ud658\uacbd \uc18d\uc5d0\uc11c \uc9c4\ud589\ub41c\ub2e4.\ub2e8\uc21c\ud55c \uc785\ucc30\uc774 \uc544\ub2c8\ub2e4.\uad11\uc5c5\uacfc RIGI (\ub300\uaddc\ubaa8\ud22c\uc790\uc778\uc13c\ud2f0\ube0c): \ud638\uc7ac\ub97c \ub354\ud558\ub294 \uc6c0\uc9c1\uc784\ub9ac\uc624 \ud2f4\ud1a0(Rio Tinto)\uc640 \uae00\ub80c\ucf54\uc5b4(Glencore) \uac04\uc758 \ud569\ubcd1 \uac00\ub2a5\uc131 \uc18c\ubb38\uc740, \uc131\uc0ac\ub420 \uacbd\uc6b0 \uc138\uacc4 \ucd5c\ub300 \uad11\uc0b0\uae30\uc5c5\uc758 \ud0c4\uc0dd\uc744 \uc758\ubbf8\ud558\uba70, \ub9ac\ud2ac\uacfc \uad6c\ub9ac \ub4f1 \uc544\ub974\ud5e8\ud2f0\ub098 \ud604\uc9c0 \ud504\ub85c\uc81d\ud2b8\uc5d0 \ub300\ud55c \uad00\uc2ec\uc744 \ub2e4\uc2dc \ubd88\ub7ec\uc77c\uc73c\ucf30\ub2e4.RIGI(\ub300\uaddc\ubaa8 \ud22c\uc790 \uc778\uc13c\ud2f0\ube0c \uc81c\ub3c4)\ub97c \ubc30\uacbd\uc73c\ub85c, \uc544\ub974\ud5e8\ud2f0\ub098\ub294 \ub2e4\uc2dc \uc9c0\uc5ed \ud22c\uc790 \uc6c0\uc9c1\uc784\uc774 \ud3ec\ucc29\ub418\uace0 \uc788\ub2e4.\uc815\uce58\uc801 \uc555\ubc15 \uc18d\uc758 \uc5f0\uc900(Fed) :\uc5f0\uc900 \uc758\uc7a5\uc5d0 \ub300\ud55c \uc0ac\ubc95\uc801 \uc18c\ud658\uc740 \ubbf8\uad6d \uc911\uc559\uc740\ud589\uc758 \ub3c5\ub9bd\uc131\uc744 \ub458\ub7ec\uc2fc \uacbd\ubcf4\ub97c \ub2e4\uc2dc \uc6b8\ub838\ub2e4.\uc6d4\uac00 \uc120\ubb3c\uc740 \ud558\ub77d\ud558\uace0, \uae00\ub85c\ubc8c \ub2ec\ub7ec\ub294 \uc57d\uc138, \ubbf8\uad6d 10\ub144\ubb3c \uad6d\ucc44\uae08\ub9ac\ub294 \uc0c1\uc2b9\ud588\ub2e4.\uc815\uce58\uc640 \uc2dc\uc7a5\uc774 \ub610\ub2e4\uc2dc \uc704\ud5d8\ud560 \uc815\ub3c4\ub85c \uac00\uae4c\uc6cc\uc9c4 \ubaa8\uc2b5\uc774\ub2e4.\uac00\uc0c1\uc790\uc0b0: \ubcc0\ub3d9\uc131 \uc18d \ud68c\ubcf5\ub825\ube44\ud2b8\ucf54\uc778\uc740 \uc5f0\uc900\uc744 \ub458\ub7ec\uc2fc \uc0ac\ubc95 \ub9ac\uc2a4\ud06c\uc758 \uc601\ud5a5\uc774 \uc644\ud654\ub418\uba70 9\ub9cc \ub2ec\ub7ec \uc774\uc0c1\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub2e4.\uc774\ub354\ub9ac\uc6c0\uacfc XRP\ub3c4 \ucd08\ubc18 \uc0c1\uc2b9\uc5d0 \ub3d9\ucc38\ud588\uc9c0\ub9cc, \uc774\ud6c4 \uc0c1\uc2b9\ubd84\uc744 \uc77c\ubd80 \ubc18\ub0a9\ud588\ub2e4.\uba54\uc2dc\uc9c0\ub294 \ubd84\uba85\ud558\ub2e4. \uac00\uaca9 \uc218\uc900\uc740 \ubc84\ud2f0\uace0 \uc788\uc9c0\ub9cc, \ubcc0\ub3d9\uc131\uc740 \uc0ac\ub77c\uc9c0\uc9c0 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