March 01, 2020

๊ฐ€์–‘์นผ๊ตญ์ˆ˜๋ฒ„์„ฏ๋งค์šดํƒ•, ์˜๋“ฑํฌ๊ตฌ

๊ฐ€์–‘์นผ๊ตญ์ˆ˜๋ฒ„์„ฏ๋งค์šดํƒ•, ์˜๋“ฑํฌ๊ตฌ

์นผ๊ตญ์ˆ˜
์„œ์šธ ์˜๋“ฑํฌ๊ตฌ ๊ตญ์ œ๊ธˆ์œต๋กœ 78

์—ฌ์˜๋„ ํ™์šฐ๋นŒ๋”ฉ ์ง€ํ•˜์— ์žˆ๋Š” ๋ฒ„์„ฏ์นผ๊ตญ์ˆ˜์ง‘์ž…๋‹ˆ๋‹ค.

์ฒ˜์Œ ๊ฐ„ ์ง€ 20๋…„ ๋„˜์—ˆ๋Š”๋ฐ, ์ •์ž‘ ์ด๊ณณ์— ์˜ฌ๋ฆฌ๋Š” ๊ฑด ์ด์ œ์•ผ ์˜ฌ๋ฆฌ๋„ค์š”.

์ฒ˜์Œ ๊ฐ”์„ ๋•Œ์—๋Š” 1์ธ๋‹น 6,000์›์ด์—ˆ๋˜ ๊ฒƒ ๊ฐ™๊ณ , ์—ฐ์ค‘๋ฌดํœด 24์‹œ๊ฐ„ ์˜์—…์„ ํ–ˆ์—ˆ๋Š”๋ฐ, ์ด์ œ๋Š” 24์‹œ๊ฐ„๋„ ์•„๋‹ˆ๊ณ , ๊ฐ€๊ฒฉ๋„ 11,000์›์œผ๋กœ ์˜ฌ๋ž์Šต๋‹ˆ๋‹ค.

์ค‘๊ฐ„์— ๋ง›๋„ ์•ฝ๊ฐ„ ๋ณ€ํ•˜๊ธฐ๋„ ํ–ˆ๋Š”๋ฐ, ์—ฌ์ „ํžˆ ๋ง›์ด ์žˆ๊ณ , ๋ฒ„์„ฏ, ์นผ๊ตญ์ˆ˜, ๋ณถ์Œ๋ฐฅ์ด ๋ฌด์ œํ•œ์ธ ๊ฒƒ์€ ๋ณ€ํ•จ์—†์—ˆ์Šต๋‹ˆ๋‹ค.



February 29, 2020

ํˆฌ์ž์ˆ˜์ต๋ฅ 

ํˆฌ์ž์ˆ˜์ต๋ฅ 

● ๋‚ด๋ถ€์ˆ˜์ต๋ฅ (IRR)

ํŽ€๋“œ์˜ ์„ฑ๊ณผ๋ฅผ ์ธก์ •ํ•˜๋Š” ์„ฑ๊ณผ๋กœ ๊ฐ€์žฅ ๋งŽ์ด ์‚ฌ์šฉ๋˜๋Š” ์ง€ํ‘œ ์ค‘ ํ•˜๋‚˜์ธ IRR(Internal Rate of Return)์€ ํˆฌ์ž์•ˆ์˜ ํ˜„๊ธˆ์œ ์ถœ๊ณผ ํ˜„๊ธˆ์œ ์ž…์„ ํ˜„์žฌ๊ฐ€์น˜๋กœ ์ผ์น˜์‹œ์ผœ์ฃผ๋Š” ํ• ์ธ์œจ์„ ๋งํ•ฉ๋‹ˆ๋‹ค.

์˜ˆ๋ฅผ ๋“ค์–ด ํ˜„์žฌ 100์›์„ ํˆฌ์žํ•˜๊ณ  1๋…„ ํ›„ 50์›์„ ํˆฌ์žํ•œ ๋’ค 2๋…„ ํ›„ 60์›, 3๋…„ ํ›„ 110์›์„ ๋ฐ›๋Š” ํˆฌ์ž์•ˆ์ด ์žˆ๋‹ค๊ณ  ๊ฐ€์ •ํ•˜๋ฉด,

100 + 50/(1+r)^1 = 60/(1+r)^2 + 110/(1+r)^3

์„ ๋งŒ์กฑ์‹œํ‚ค๋Š” r์„ ๊ตฌํ•ด์•ผ ํ•ฉ๋‹ˆ๋‹ค. ๋”ฑ ๊ณ„์‚ฐ์ด ๋–จ์–ด์ง€๋Š” ์‚ฐ์‹์ด ์•„๋‹Œ n์ฐจ ๋ฐฉ์ •์‹์œผ๋กœ ํ˜„๊ธˆ์˜ ์œ ์ถœ์ž…์ด ๋งŽ์„์ˆ˜๋ก ๊ณ„์‚ฐ์€ ์ ์  ๋ณต์žกํ•ด ์ง‘๋‹ˆ๋‹ค. ๋‹คํ–‰ํžˆ  ์—‘์…€์˜ ๋“ฑ์žฅ ์ดํ›„, xirr()์ด๋ผ๋Š” ํ•จ์ˆ˜๊ฐ€ ์žˆ์–ด์„œ ๊ณ„์‚ฐ๊ณผ์ • ์ž์ฒด๋Š” ํŽธํ•ด์กŒ์Šต๋‹ˆ๋‹ค.

IRR์—๋Š” ๋ช‡๊ฐ€์ง€ ํŠน์ง•์ด ์žˆ๋Š”๋ฐ ๊ทธ ์ค‘ ํ•˜๋‚˜๋Š” ํ•˜๋‚˜๊ฐ€ ์•„๋‹Œ ์—ฌ๋Ÿฌ ๊ฐœ์˜ IRR์ด ๋‚˜์˜ฌ ์ˆ˜ ์žˆ๋‹ค๋Š” ๊ฒƒ์ž…๋‹ˆ๋‹ค. ์ด ๊ฒฝ์šฐ ์–ด๋А IRR์ด ๋งž๋ƒ๋Š” ๋ฌธ์ œ๊ฐ€ ๋ฐœ์ƒํ•  ์ˆ˜ ์žˆ์ฃ .

● ๋‚ด๋ถ€์ˆ˜์ต๋ฅ (IRR) vs ์‹œ๊ฐ„๊ฐ€์ค‘ํ‰๊ท ์ˆ˜์ต๋ฅ (TWR)

IRR์€ ํ˜„๊ธˆํ๋ฆ„์„ ํ• ์ธํ•˜๋Š” ๊ณผ์ •์—์„œ ๊ธˆ์•ก์— ๋”ฐ๋ฅธ ๊ฐ€์ค‘์น˜๊ฐ€ ๋ถ€์—ฌ๋˜๋Š” ๊ธˆ์•ก๊ฐ€์ค‘์ˆ˜์ต๋ฅ (money weighted return)์˜ ํŠน์„ฑ์„ ๊ฐ–๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค. ๋งŒ์•ฝ ํˆฌ์ž์ž๊ฐ€ ์‚ฌ์ „์— ์•ฝ์ •์„ ํ•˜๊ณ , ํŽ€๋“œ์˜ ์šด์šฉ์‚ฌ๊ฐ€ ํˆฌ์ž๊ธฐํšŒ๊ฐ€ ์žˆ์„ ๋•Œ๋งˆ๋‹ค ์ž๊ธˆ์ธ์ถœ(capital call)์„ ์š”์ฒญํ•˜๋Š” ํ์‡„ํ˜•(closed end) ํŽ€๋“œ์™€ ๊ฐ™์ด ํŽ€๋“œ์—์„œ ํ˜„๊ธˆํ๋ฆ„์˜ ์œ ์ถœ์ž…์„ ํ†ต์ œํ•  ์ˆ˜ ์žˆ๋‹ค๋ฉด ํ•ด๋‹น ํŽ€๋“œ๋ฅผ ํ‰๊ฐ€ํ•  ๋•Œ IRR์€ ์ข‹์€ ํ‰๊ฐ€ ์ฒ™๋„๊ฐ€ ๋  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

ํ•˜์ง€๋งŒ, ํˆฌ์ž๊ธฐํšŒ์— ๋Œ€ํ•œ ์šด์šฉ์ž์˜ ์ „๋ง๊ณผ ์ƒ๊ด€์—†์ด ์ž๊ธˆ์œ ์ถœ์ž…์ด ์กด์žฌํ•˜๋Š” ํŽ€๋“œ์˜ ๊ฒฝ์šฐ์—๋Š” ์ž๊ธˆ์œ ์ถœ์ž…์˜ ๊ทœ๋ชจ์— ๋”ฐ๋ผ ์ˆ˜์ต๋ฅ ์ด ๋ณ€๋™๋˜๋Š” IRR์€ ์šด์šฉ์‚ฌ์˜ ์„ฑ๊ณผ๋ฅผ ํ‰๊ฐ€ํ•  ๋•Œ ์ ํ•ฉํ•˜์ง€ ์•Š์„ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

์ƒ์žฅ์ฃผ์‹์— ํˆฌ์žํ•˜๋Š” ์šด์šฉ์ž๋ฅผ ์˜ˆ๋กœ ๋“ค์–ด๋ณด๊ฒ ์Šต๋‹ˆ๋‹ค. ์ฃผ์‹ ์‹œ์žฅ์ด ํ•˜๋ฝํ•˜๊ณ  ์žˆ๋Š”๋ฐ ์šด์šฉ์—ญ์ด ๋ณด๊ธฐ์—๋Š” ๊ณผ๋งค๋„ ๊ตญ๋ฉด์œผ๋กœ ์ง€๊ธˆ์ด ์‚ด ๋•Œ๋ผ๊ณ  ์ƒ๊ฐํ–ˆ์–ด๋„ ํ™˜๋งค๊ฐ€ ๋ชฐ๋ ค๋“ค๋ฉด ์ „๋ง๊ณผ ์ƒ๊ด€์—†์ด ํŒ”์•„์•ผ ํ•ฉ๋‹ˆ๋‹ค. ๋ฐ˜๋Œ€๋กœ, ์ฃผ๊ฐ€๊ฐ€ ๋„ˆ๋ฌด ์˜ฌ๋ผ์„œ ์ต์Šคํฌ์ ธ๋ฅผ ์ค„์ด๊ณ  ์‹ถ์€๋ฐ ํŽ€๋“œ๋กœ ๋ˆ์ด ๋งŽ์ด ๋“ค์–ด์˜ค๋ฉด ์ผ์ • ๋ถ€๋ถ„ ์ฃผ์‹์„ ์‚ด ์ˆ˜ ๋ฐ–์— ์—†์Šต๋‹ˆ๋‹ค.

์ด๋Ÿฌํ•œ ํŽ€๋“œ์˜ ๊ฒฝ์šฐ์—๋Š” ์šด์šฉ์„ฑ๊ณผ๋ฅผ ์ธก์ •ํ•  ๋•Œ์—๋Š” ์ž๊ธˆ์œ ์ถœ์ž…์˜ ๊ทœ๋ชจ์™€ ์ƒ๊ด€์—†์ด ์šด์šฉ์ž๊ฐ€ ์–ด๋–ป๊ฒŒ ๋Œ€์‘ํ–ˆ๋Š”์ง€๊ฐ€ ์ˆ˜์ต๋ฅ ์— ๋ฐ˜์˜๋˜๋Š” ์‹œ๊ฐ„๊ฐ€์ค‘ํ‰๊ท ์ˆ˜์ต๋ฅ (time weighted return)์ด ๋” ์ ํ•ฉํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

๋‘˜ ์ค‘ ์–ด๋А ํ•œ ๋ฐฉ๋ฒ•์ด ๋งž๊ณ , ํ‹€๋ฆฌ๋‹ค๊ฐ€ ์•„๋‹Œ ํŠน์„ฑ์— ๋”ฐ๋ผ ๋‹ค๋ฅธ ๋ฐฉ๋ฒ•์ด ์žˆ๋Š” ๊ฒƒ์ž…๋‹ˆ๋‹ค.

ํ•ด์™ธ ๋ถ€๋™์‚ฐ ์‚ฌ๋ชจํŽ€๋“œ์˜ ๊ฒฝ์šฐ, ์ž๊ธˆ์ธ์ถœ๊ณผ ํ™˜๋งค๋ฅผ ์šด์šฉ์‚ฌ๊ฐ€ ๊ฒฐ์ •ํ•  ์ˆ˜ ์žˆ๋Š” ํ์‡„ํ˜• ํŽ€๋“œ(closed end)๋Š” IRR์„, ํ™˜๋งค๋ฅผ ํˆฌ์ž์ž๊ฐ€ ์˜์‚ฌ๊ฒฐ์ •ํ•˜๋Š” ๊ฐœ๋ฐฉํ˜• ํŽ€๋“œ(open ended)๋Š” TWR๋กœ ์ˆ˜์ต๋ฅ ์„ ํ‘œ์‹œํ•ฉ๋‹ˆ๋‹ค.


● IRR vs Multiple

IRR์˜ ๋˜๋‹ค๋ฅธ ํŠน์ง•์ด์ž ํ•œ๊ณ„๋Š” ํ˜„๊ธˆํ๋ฆ„์ด IRR๊ณผ ๋™์ผํ•œ ์ˆ˜์ต๋ฅ ๋กœ ์žฌํˆฌ์ž๋œ๋‹ค๋Š” ๊ฐ€์ •์ด ํฌํ•จ๋˜์–ด ์žˆ๋‹ค๋Š” ์ ์ž…๋‹ˆ๋‹ค. ์‹ค์ œ๋กœ ํ•ด๋‹น ์ˆ˜์ต๋ฅ ๋กœ ์žฌํˆฌ์ž๊ฐ€ ๊ฐ€์ •ํ•˜๋‹ค๋ฉด ๋ฌธ์ œ๋Š” ์—†์ง€๋งŒ, IRR์ด ๋†’์€๋ฐ ์‹ค์ œ ์ž‰์—ฌํ˜„๊ธˆ์„ ๊ทธ ์ˆ˜์ต๋ฅ ๋กœ ํˆฌ์žํ•  ์ˆ˜ ์—†๋‹ค๋ฉด IRR์€ ๊ธฐ๋Œ€์ˆ˜์ต๋ฅ ๊ณผ ๊ดด๋ฆฌ๋ฅผ ๋ณด์ด๊ฒŒ ๋ฉ๋‹ˆ๋‹ค.

์˜ˆ๋ฅผ ๋“ค์–ด 10๋…„๊ฐ„ ๋งค๋…„ ํ›„์ทจ๋กœ ์—ฐ 6%์˜ ์ด์ž๋ฅผ ์ฃผ๊ณ , ์กฐ๊ธฐ์ƒํ™˜์ด ๊ฐ€๋Šฅํ•œ ๋Œ€์‹  ์กฐ๊ธฐ์ƒํ™˜์ˆ˜์ˆ˜๋ฃŒ๊ฐ€ 2%์ธ ํˆฌ์ž์•ˆ์ด ์žˆ๋‹ค๊ณ  ๊ฐ€์ •ํ•ด ๋ด…์‹œ๋‹ค. ์ด ํˆฌ์ž์•ˆ์— 1,000์›์„ ํˆฌ์žํ•œ ํˆฌ์ž์ž๋Š” 10๋…„ํ›„ ์›๊ธˆ์„ ํฌํ•จ 1,600์›์„ ๋ฐ›์„ ๊ฒƒ์œผ๋กœ ๊ธฐ๋Œ€ํ•  ๊ฒ๋‹ˆ๋‹ค. IRR ๊ธฐ์ค€์œผ๋กœ 6%์ž…๋‹ˆ๋‹ค.

๊ทธ๋Ÿฐ๋ฐ, 1๋…„ ์‚ฌ์ด ๊ธˆ๋ฆฌ๊ฐ€ ๊ธ‰๋ฝ์„ ํ•˜๊ณ , ๋™์ผํ•œ ๋Œ€์ถœ์˜ 9๋…„ ๋งŒ๊ธฐ ๊ธˆ๋ฆฌ๊ฐ€ ์—ฐ 4%๊ฐ€ ๋˜์—ˆ์Šต๋‹ˆ๋‹ค. ์ฐจ์ฃผ๋Š” 1๋…„ ๋งŒ์— ๋‹ค๋ฅธ ๋Œ€์ถœ์„ ๋ฐ›์•„์„œ 2%์˜ ์กฐ๊ธฐ์ƒํ™˜์ˆ˜์ˆ˜๋ฃŒ๋ฅผ ์ง€๊ธ‰ํ•˜๊ณ ๋ผ๋„ ๊ธฐ์กด ๋Œ€์ถœ์„ ์ƒํ™˜ํ•  ๊ฒ๋‹ˆ๋‹ค. ํˆฌ์ž์ž๋Š” 1๋…„ ๋งŒ์— ์›๊ธˆ 1,000์›, ์ด์ž 60์›๊ณผ ์ˆ˜์ˆ˜๋ฃŒ 20์› ๋“ฑ ์ด 1,.080์›์„ ๋ฐ›๊ฒŒ ๋˜๊ณ  IRR์€ 8%์ž…๋‹ˆ๋‹ค. ์ข€๋” ๊ทน๋‹จ์ ์œผ๋กœ 1๋…„์ด ์•„๋‹Œ 1๊ฐœ์›” ๋งŒ์— ์ƒํ™˜๋˜์—ˆ๋‹ค๋ฉด IRR์€ 36%๋ฅผ ๋„˜๊ฒŒ ๋ฉ๋‹ˆ๋‹ค.

6%๋ฅผ ๊ธฐ๋Œ€ํ–ˆ๋Š”๋ฐ, ์ด๋ ‡๊ฒŒ ๋†’์€ ์ˆ˜์ต๋ฅ ์„ ์˜ฌ๋ ธ์œผ๋‹ˆ ํˆฌ์ž์ž๋Š” ๋งŒ์กฑํ• ๊นŒ์š”?

ํˆฌ์ž์ž๊ฐ€ ์ˆ˜์ทจํ•œ 1,080์›์„ 9๋…„ ๊ฐ„ ์—ฐ 4%์— ์žฌํˆฌ์žํ•  ๊ฒฝ์šฐ ์˜ˆ์ƒ IRR์€ 4%๋Œ€๋กœ ๋š ๋–จ์–ด์งˆ ๊ฒ๋‹ˆ๋‹ค. ์ „์ฒด์ ์ธ ํฌํŠธํด๋ฆฌ์˜ค์˜ ์ˆ˜์ต๋ฅ ์€ ์ €ํ•˜๋˜๊ฒ ์ฃ .

ํ•ด๋‹น ํˆฌ์ž์•ˆ๋งŒ ๋ณด๋”๋ผ๋„ 600์›์˜ ์ด ์ด์ž์ˆ˜์ต์„ ๊ธฐ๋Œ€ํ–ˆ๋Š”๋ฐ ๋™ ๊ฑด์—์„œ 80์›๋งŒ ๋ฐ›์•˜์œผ๋‹ˆ, ๊ธˆ์•ก์—์„œ๋„ ๋งŒ์กฑํ•˜์ง€ ๋ชปํ•  ๊ฒ๋‹ˆ๋‹ค.

์ด๋Ÿฌํ•œ IRR์˜ ํ•œ๊ณ„๋กœ ์ธํ•ด ์–ผ๋งˆ๋ฅผ ํˆฌ์žํ•ด์„œ ์–ผ๋งˆ๋ฅผ ๋ฐ›์•˜๋Š”์ง€๋ผ๋Š” ๋‹จ์ˆœํ•œ ์ˆ˜์‹์„ ๋ณด์กฐ ์ง€ํ‘œ๋กœ ์‚ผ๊ธฐ๋„ ํ•˜๋Š”๋ฐ, ์ด ์ง€ํ‘œ๋Š” Multiple, EM(Equity Multiple), TVPI(Total Value to Paid-in Ratio), MOIC(Multiple of Investment Cost) ๋“ฑ์œผ๋กœ ๋‹ค์–‘ํ•˜๊ฒŒ ๋ถˆ๋ฆฝ๋‹ˆ๋‹ค.

์ˆ˜์‹์œผ๋กœ๋Š”

Multiple = (์ด ์ˆ˜์ทจ๊ธˆ์•ก + ์ž์‚ฐ์˜ ํ˜„์žฌ๊ฐ€์น˜) / (ํˆฌ์ž๊ธˆ์•ก)

์œผ๋กœ ๋‚˜ํƒ€๋‚ผ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

์œ„ ์˜ˆ์‹œ์˜ ๊ฒฝ์šฐ Multiple์€ 1.60๋ฐฐ๋ฅผ ๊ธฐ๋Œ€ํ–ˆ๋Š”๋ฐ, 1๋…„ ํ›„ ์กฐ๊ธฐ์ƒํ™˜ ์‹œ์—๋Š” 1.08๋ฐฐ์— ๊ทธ์น˜๊ฒŒ ๋ฉ๋‹ˆ๋‹ค. ์ด๋ ‡๊ฒŒ ๋ณด๋ฉด ์ž˜ ํ–ˆ๋‹ค๊ณ  ๋ณผ ์ˆ˜ ์—†์ฃ .

๊ทธ๋ ‡๋‹ค๊ณ  IRR ๋ณด๋‹ค Multiple์ด ์šฐ์ˆ˜ํ•˜๋‹ค๋Š” ๊ฒƒ์€ ์•„๋‹™๋‹ˆ๋‹ค. Multiple์€ ํ˜„์žฌ๊ฐ€์น˜๊ฐ€ ๋ฐ˜์˜๋˜์ง€ ์•Š์€ ํ•œ๊ณ„๊ฐ€ ์žˆ๊ธฐ์— ์–ด๋А ํ•œ ์ง€ํ‘œ๊ฐ€ ์šฐ์ˆ˜ํ•˜๋‹ค๊ธฐ ๋ณด๋‹ค๋Š” ๋‘ ์ง€ํ‘œ๋Š” ๋ณด์™„์ ์œผ๋กœ ํ™œ์šฉ๋˜๋Š” ๊ฒƒ์ด ๋ฐ”๋žŒ์งํ•ฉ๋‹ˆ๋‹ค.

● Net IRR vs Gross IRR

​IRR, TWR, Multiple ๋“ฑ์˜ ์ง€ํ‘œ๋Š” ๋ชจ๋‘ ์ˆ˜์ˆ˜๋ฃŒ ์ฐจ๊ฐ ์ „(gross of fees) ๊ธฐ์ค€์ธ ์ˆœ ์ˆ˜์ต๋ฅ ์ด๋‚˜ ์ˆœ ๋ฉ€ํ‹ฐํ”Œ๊ณผ ์ฐจ๊ฐ ํ›„(net of fees) ๊ธฐ์ค€์ธ ์ด ์ˆ˜์ต๋ฅ ๊ณผ ์ด ๋ฉ€ํ‹ฐํ”Œ์ด ์กด์žฌํ•ฉ๋‹ˆ๋‹ค.

ํˆฌ์ž์ž ์ž…์žฅ์—์„œ๋Š” ์ˆ˜์ˆ˜๋ฃŒ ์ฐจ๊ฐ ํ›„ ๊ธฐ์ค€์ด ๋” ์ค‘์š”ํ•ฉ๋‹ˆ๋‹ค. ์šด์šฉ์‚ฌ๊ฐ€ ์šด์šฉ์„ ์ž˜ ํ–ˆ์–ด๋„ ์ˆ˜์ˆ˜๋ฃŒ๋กœ ๋” ๋งŽ์ด ๋–ผ์–ด๊ฐ„๋‹ค๋ฉด ์ž˜ ํ–ˆ๋‹ค๊ณ  ๋ณผ ์ˆ˜ ์—†์œผ๋‹ˆ๊นŒ์š”. ์ด ํŽ€๋“œ๋ฅผ ํˆฌ์žํ•  ๋•Œ ๋‚ด๊ฐ€ ์–ด๋А ์ •๋„ ์ˆ˜์ต์„ ์˜ฌ๋ฆด ์ˆ˜ ์žˆ๊ฒ ๋‹ค๊ณ  ์ƒ๊ฐํ•  ๋•Œ์—๋„ ์ˆœ์ˆ˜์ต๋ฅ  ๊ธฐ์ค€์œผ๋กœ ์ƒ๊ฐํ•˜๋‹ˆ๊นŒ์š”.

ํ•˜์ง€๋งŒ, ์šด์šฉ์‚ฌ ์ž…์žฅ์—์„œ๋Š” ์ด ์ˆ˜์ต๋ฅ  ๊ธฐ์ค€์„ ๋” ์ข‹์•„ํ•ฉ๋‹ˆ๋‹ค. ์ผ๋‹จ ์ˆœ์ˆ˜์ต๋ฅ  ๋ณด๋‹ค ์ˆ˜์ต๋ฅ ์ด ๋†’์•„ ๋ณด์ž…๋‹ˆ๋‹ค. ๊ทธ๋ฆฌ๊ณ , ์ˆœ์ˆœ์ต๋ฅ ์€ ์šด์šฉ์‚ฌ๋งˆ๋‹ค ์ฐจ๊ฐํ•˜๋Š” ๊ธฐ์ค€์ด ๋‹ค๋ฅด๋‹ค๊ณ  ํ•ฉ๋‹ˆ๋‹ค. ์šด์šฉ์‚ฌ์— ๋”ฐ๋ผ ์šด์šฉ๋ณด์ˆ˜๋งŒ ์ฐจ๊ฐํ•˜๊ธฐ๋„ ํ•˜๊ณ , ์šด์šฉ๋ณด์ˆ˜์™€ ์„ฑ๊ณผ๋ณด์ˆ˜๋ฅผ ์ฐจ๊ฐํ•˜๊ธฐ๋„ ํ•˜๋ฉฐ, ์šด์šฉ๋ณด์ˆ˜์™€ ์„ฑ๊ณผ๋ณด์ˆ˜์— ์„ธ๊ธˆ๊นŒ์ง€ ์ฐจ๊ฐํ•˜๊ธฐ๋„ ํ•ฉ๋‹ˆ๋‹ค.

● ์‹คํ˜„ ์ˆ˜์ต๋ฅ (realized IRR) vs ๋ฏธ์‹คํ˜„ ์ˆ˜์ต๋ฅ (unrealized IRR)

๊ธฐ์กด ํŽ€๋“œ์˜ ์„ฑ๊ณผ๋ฅผ ํ‰๊ฐ€ํ•  ๋•Œ ์ฒญ์‚ฐ์ด ์™„๋ฃŒ๋œ ํŽ€๋“œ์˜ ๊ฒฝ์šฐ๋Š” ์ˆœ์ˆ˜์ต๋ฅ ์ด๋“  ์ด์ˆ˜์ต๋ฅ ์ด๋“  ๋ฐฉ๋ฒ•๋งŒ ์ •ํ•˜๋ฉด ๋™์ผํ•˜๊ฒŒ ๋ฉ๋‹ˆ๋‹ค. ํ•˜์ง€๋งŒ, ์ฒญ์‚ฐ์ด ์™„๋ฃŒ๋˜์–ด์„œ ๋๋‚œ ํŽ€๋“œ ๋ณด๋‹ค๋Š” ์ง€๊ธˆ ํˆฌ์ž ์ค‘์ธ ํŽ€๋“œ์˜ ์ˆ˜์ต๋ฅ ์ด ๋” ๊ด€์‹ฌ์ธ ๊ฒฝ์šฐ๋„ ์žˆ์Šต๋‹ˆ๋‹ค.

ํŠนํžˆ, ๋งŒ๊ธฐ๊ฐ€ 10๋…„ ์ด์ƒ์ธ ํŽ€๋“œ๋“ค์„ ์šด์šฉํ•˜๊ณ  ์žˆ๋‹ค๋ฉด ์ฒญ์‚ฐ ์™„๋ฃŒ๋œ ํŽ€๋“œ๋“ค์€ ์ด๋ฏธ ์ง€๊ธˆ๊ณผ๋Š” ๋‹ค๋ฅธ ํ™˜๊ฒฝ์—์„œ ํˆฌ์žํ•˜๊ณ  ํšŒ์ˆ˜๋˜์—ˆ๋˜ ๊ฑด์ด๊ธฐ์— ๊ทธ ํŽ€๋“œ๋ฅผ ์ž˜ ํ•˜๊ฑฐ๋‚˜ ๋ชปํ–ˆ๋‹ค๊ณ  ์•ž์œผ๋กœ๋„ ๊ทธ๋Ÿด ๊ฑฐ๋ผ๊ณ  ์ƒ๊ฐํ•˜๊ธฐ์—๋Š” ๋ฌด๋ฆฌ๊ฐ€ ์žˆ์„ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

ํ˜„์žฌ ์šด์šฉ ์ค‘์ธ ํŽ€๋“œ์— ๋Œ€ํ•œ ์ˆ˜์ต๋ฅ ์„ ๊ณ„์‚ฐํ•˜๊ธฐ ์œ„ํ•ด์„œ๋Š” ๋ณด์œ  ์ค‘์ธ ์ž์‚ฐ์„ ์–ด๋–ป๊ฒŒ ๋ณผ์ง€์— ๋Œ€ํ•œ ์˜์‚ฌ๊ฒฐ์ •์ด ํ•„์š”ํ•ฉ๋‹ˆ๋‹ค.

๊ทธ ์ค‘ ํ•˜๋‚˜๋Š” ํ˜„์žฌ ์šด์šฉ ์ค‘์ธ ํŽ€๋“œ ์ค‘ ์ด๋ฏธ ํšŒ์ˆ˜๊ฐ€ ์™„๋ฃŒ๋œ ์‹คํ˜„์ˆ˜์ต๋ฅ (realized IRR)๋งŒ ๊ณ„์‚ฐํ•˜๋Š” ๊ฒƒ์ž…๋‹ˆ๋‹ค. ํ•˜์ง€๋งŒ, (1)ํ›„์† ํŽ€๋“œ ๋ชจ์ง‘์„ ์›ํ™œํ•˜๊ฒŒ ํ•˜๊ธฐ ์œ„ํ•ด์„œ๋Š” ์ˆ˜์ต๋ฅ ์ด ๋†’์€ ๊ฒƒ์ด ์ข‹๋‹ค ๋ณด๋‹ˆ ์ข‹์€ ๊ฑด์€ ๋งค๊ฐํ•˜์—ฌ์„œ ์‹คํ˜„์‹œํ‚ค๊ฑฐ๋‚˜, (2)๊ผญ ๊ทธ๋Ÿฌํ•œ ์˜๋„๊ฐ€ ์•„๋‹ˆ๋”๋ผ๋„ ์•…์„ฑ๋ฌผ๊ฑด๋“ค์ด ๋งค๊ฐ์ด ์•ˆ๋˜์–ด์„œ ํŽ€๋“œ์— ๋‚จ์•„์žˆ๊ฒŒ ๋˜๋ฉด ํŽ€๋“œ์˜ ์ˆ˜์ต๋ฅ ์ด ๊ณผ๋„ํ•˜๊ฒŒ ์ข‹์•„ ๋ณด์ด๋Š” ๋‹จ์ ์ด ์žˆ์Šต๋‹ˆ๋‹ค.

์ด๋Ÿฌํ•œ ๋‹จ์ ์„ ํ”ผํ•˜๊ธฐ ์œ„ํ•ด์„œ๋Š” ๋ฏธ์‹คํ˜„ ์ˆ˜์ต๋ฅ ์„ ํฌํ•จํ•œ ์ˆ˜์ต๋ฅ ์ด ํ•„์š”ํ•ฉ๋‹ˆ๋‹ค. ํ•˜์ง€๋งŒ, ๋ฏธ์‹คํ˜„ ์ž์‚ฐ์˜ ์ˆ˜์ต๋ฅ ์„ ๊ณ„์‚ฐํ•˜๊ธฐ ์œ„ํ•ด์„œ๋Š” ๋ฏธ์‹คํ˜„ ์ž์‚ฐ์„ ์–ด๋–ป๊ฒŒ ๊ณ„์‚ฐํ• ์ง€์— ๋Œ€ํ•œ ๊ธฐ์ค€์ด ํ•„์š”ํ•ฉ๋‹ˆ๋‹ค.

● ํ˜„์žฌ๊ฐ€์น˜ ๊ธฐ์ค€ ์ˆ˜์ต๋ฅ (MTM IRR) vs ์ถ”์ • ์ˆ˜์ต๋ฅ (Projected IRR)

๊ทธ ์ค‘ ํ•˜๋‚˜๋Š” ๊ธฐ์ค€์ผ ํ˜„์žฌ ์ž์‚ฐ์˜ ํ˜„์žฌ๊ฐ€์น˜๋ฅผ ๋ฐ˜์˜ํ•œ ์ˆ˜์ต๋ฅ ์ž…๋‹ˆ๋‹ค. ๊ณต์ •๊ฐ€์น˜(fair market value)๊ฐ€ ์‹ค์ œ๋กœ ๊ฑฐ๋ž˜๋˜๋Š” ๊ฐ€๊ฒฉ์„ ๋ฐ˜์˜ํ•˜๋Š” ์ƒ์žฅ์ฃผ์‹๊ณผ ๋‹ฌ๋ฆฌ ๋ถ€๋™์‚ฐ ๋“ฑ ๋Œ€์ฒดํˆฌ์ž๋Š” (1)๊ณต์ •๊ฐ€์น˜๊ฐ€ ์ •๋ง ์‹ค์ œ ๊ฐ€๊ฒฉ์„ ๋ฐ˜์˜ํ•˜์ง€ ๋ชปํ•˜๋Š” ๊ฒฝ์šฐ๊ฐ€ ๋งŽ๊ณ , (2)๊ฑฐ๋ž˜๋น„์šฉ์ด ์ƒ์žฅ์ฃผ์‹ ๋ณด๋‹ค ํ›จ์”ฌ ๋งŽ์ด ๋“ค๊ฒŒ ๋˜๋Š” ๋ฌธ์ œ๊ฐ€ ์žˆ์„ ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.

๋˜ํ•œ, (1)ํ์‡„ํ˜• ํŽ€๋“œ์˜ ๊ฒฝ์šฐ ํ˜„๊ธˆํ™”ํ•  ์ˆ˜ ์—†๋Š” ํ˜„์žฌ ์ˆ˜์ต๋ฅ  ๋ณด๋‹ค ํ–ฅํ›„ ์ฒญ์‚ฐ ์‹œ์ ์˜ ์ˆ˜์ต๋ฅ ์ด ๋” ์ค‘์š”ํ•  ์ˆ˜ ์žˆ๊ณ , (2)์•ˆ์ •ํ™” ๊ธฐ๊ฐ„์ด ํ•„์š”ํ•œ ํŽ€๋“œ์˜ ๊ฒฝ์šฐ ์•ˆ์ •ํ™”๋œ ์ดํ›„์˜ ์ˆ˜์ต๋ฅ ์ด ์ค‘์š”ํ•  ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค. ๊ทธ๋Ÿฌ๋‹ค ๋ณด๋‹ˆ ์ถ”์ • ์ˆ˜์ต๋ฅ (Projected IRR)์„ ๊ณ„์‚ฐํ•˜๊ธฐ๋„ ํ•ฉ๋‹ˆ๋‹ค.

์‹คํ˜„๋œ ์ž์‚ฐ์€ ํ™•์ •๋œ ํ˜„๊ธˆํ๋ฆ„์ด ๋ฐ˜์˜๋˜๊ณ , ํ˜„์žฌ ๋ณด์œ  ์ค‘์ธ ์ž์‚ฐ์€ ์šด์šฉ์ž์˜ ๊ณ„ํš ๋Œ€๋กœ ๋ณด์œ ํ•˜๊ณ  ์žˆ๋‹ค๊ฐ€ ๋งค๊ฐํ•˜๋Š” ๊ฒƒ์„ ๊ฐ€์ •์œผ๋กœ ๊ณ„์‚ฐํ•œ ํ˜„๊ธˆํ๋ฆ„์ด ๋ฐ˜์˜๋œ ์ง€ํ‘œ์ž…๋‹ˆ๋‹ค. ์šด์šฉ์‚ฌ์—์„œ๋Š” ์ฒด๊ณ„์ ์œผ๋กœ ๊ณ„์‚ฐ์„ ํ•˜์˜€๋‹ค๊ณ ๋Š” ํ•˜์ง€๋งŒ, ๋ฏธ๋ž˜์— ๋Œ€ํ•œ ์ถ”์ •์ด ๋“ค์–ด๊ฐ€๋‹ค ๋ณด๋‹ˆ ์‹ ๋ขฐ์„ฑ์— ๋Œ€ํ•œ ์ด์Šˆ์—์„œ ์ž์œ ๋กญ์ง€ ๋ชปํ•ฉ๋‹ˆ๋‹ค.


[02/29] ์•„๋ฅด๋ฉ”๋ฆฌ์•„ [thrift, sea pink, cliff rose, Armeria]

[02/29] ์•„๋ฅด๋ฉ”๋ฆฌ์•„ [thrift, sea pink, cliff rose, Armeria]

ํ•™๋ช…(ๅญธๅ, binomial name): Armeria
์ด๋ช…(็•ฐๅ): lady's cushion, sea cushion, thrift, common thrift, sea pink, cliff rose, marsh daisy
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta, Anthophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์Œ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Dicotyledoneae)
๋ชฉ(็›ฎ, Order): ์•ต์ดˆ๋ชฉ(ๆซป่‰็›ฎ, Primulaales), ์„์ฃฝ๋ชฉ(Caryophyllales)
๊ณผ(็ง‘, Family): ๊ฐฏ์งˆ๊ฒฝ์ด๊ณผ(Plumbaginaceae)
์†(ๅฑฌ, Genus): Armeria
์ข…(็จฎ, Species): Armeria vulgaris, Armeria maritima ๋“ฑ
๊ฐœํ™”(้–‹่Šฑ, Florescence): 4~5์›”; ๋ถ„ํ™์ƒ‰, ์—ฐํ•œ ์ž์ฃผ์ƒ‰, ํฐ์ƒ‰ ๋“ฑ

๊ฝƒ๋ง: ๋ฐฐ๋ ค(consideration), ๋™์ •(ๅŒๆƒ…, sympathy), ๊ฐ€๋ จ(ๅฏๆ†, pitifulness), ์˜จ์ˆœ(ๆบซ้ †, docility) | ๊ฐœํ™” 4~5์›”; ๋ถ„ํ™์ƒ‰, ์—ฐํ•œ ์ž์ฃผ์ƒ‰, ํฐ์ƒ‰ ๋“ฑ | 02/29

์•„๋ฅด๋ฉ”๋ฆฌ์•„๋Š” ์ˆ™๋…„์˜ ์ฟ ์…˜(lady's cushion)์ด๋ผ๊ณ ๋„ ๋ถˆ๋ฆฌ๋ฉฐ, ๋ฐ”๋‹ท๊ฐ€์—์„œ ๋งŽ์ด ์ž๋ผ๋ฏ€๋กœ ์‹œ์ฟ ์…˜(sea cushion), ์‹œํ•‘ํฌ(sea pink)๋ผ๊ณ ๋„ ํ•ฉ๋‹ˆ๋‹ค.

Image: Armeria maritima (sea pink)
Date: 3 June 2016
Author: AnRo0002
Source: Wikimedia Commons in the public domain
https://commons.wikimedia.org/wiki/File:20160603Armeria_maritima5.jpg
Camera location: 49° 22′ 08.48″ N, 8° 34′ 35.22″ E
Decimal: 49.369023, 8.576449


February 28, 2020

[02/28] ๋ณด๋ฆฌ [barley; (์†๋ช…) Hordeum]

[02/28] ๋ณด๋ฆฌ [barley; (์†๋ช…) Hordeum]

ํ•™๋ช…(ๅญธๅ, binomial name): Hordeum vulgare, Hordeum sativum
์ด๋ช…(็•ฐๅ): ๋ณด๋ฆฌ, ๋Œ€๋งฅ, ๅคง้บฅ, ๋งฅ, ้บฅ
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta, Anthophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•, ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ๋ฒผ๋ชฉ, ํ™”๋ณธ๋ชฉ(Graminales, Poales)
๊ณผ(็ง‘, Family): ๋ฒผ๊ณผ, ํ™”๋ณธ๊ณผ, ํฌ์•„ํ’€๊ณผ(Gramineae, Poaceae)
์†(ๅฑฌ, Genus): ๊ฒ‰๋ณด๋ฆฌ์†(Hordeum)
์ข…(็จฎ, Species): Hordeum vulgare, Hordeum sativum
๊ฐœํ™”(้–‹่Šฑ, Florescence): 4~5์›”

๊ฝƒ๋ง: ์ผ์น˜๋‹จ๊ฒฐ(ไธ€่‡ดๅœ˜็ต, unanimity); ๋ฒˆ์˜(็นๆฆฎ, prosperity), ๋ณดํŽธ(ๆ™ฎ้, universality) | ๊ฐœํ™” 4~5์›” | 02/28

๊ธฐ์›์ „ 7000๋…„ ์ „์— ์•ผ์ƒ์ข…์ด ์žฌ๋ฐฐ๋˜์—ˆ๋‹ค๊ณ  ํ•˜๋Š” ๋ณด๋ฆฌ๋Š” ์‹๋Ÿ‰์ž‘๋ฌผ๋กœ๋Š” ๊ฐ€์žฅ ์˜ค๋ž˜๋œ ์ž‘๋ฌผ ์ค‘ ํ•˜๋‚˜์ด๋ฉฐ, ์Œ€, ๋ฐ€, ์ฝฉ, ์˜ฅ์ˆ˜์ˆ˜์™€ ํ•จ๊ป˜ ์„ธ๊ณ„ 5๋Œ€ ์‹๋Ÿ‰ ์ž‘๋ฌผ์— ์†ํ•ฉ๋‹ˆ๋‹ค.

ํ˜„์žฌ์—๋Š” ๋ณด๋ฆฌํ•˜๋ฉด ๋งฅ์ฃผ๋ฅผ ๋– ์˜ฌ๋ฆฌ๋Š” ์‚ฌ๋žŒ๋“ค์ด ๋งŽ์„ ์ •๋„๋กœ ๋งฅ์ฃผ ์›๋ฃŒ๋กœ ์œ ๋ช…ํ•˜์ฃ .

Image: Hordeum vulgare (barley)
Date: 31 May 2015
Author: Bautsch
Source: Wikimedia Commons in the public domain
https://commons.wikimedia.org/wiki/File:Kornfeld.im.starken.Wind.mit.Bokeh.JPG


Lisbon, PT: ๋ถ€๋™์‚ฐ

ํ•ด์™ธ๋ถ€๋™์‚ฐ: ๋ฆฌ์Šค๋ณธ (Lisbon, PT)

์œ ๋Ÿฝ์—์„œ ๊ฐ€์žฅ ์˜ค๋ž˜๋œ ๋„์‹œ๋“ค ์ค‘ ํ•˜๋‚˜์ธ ๋ฆฌ์Šค๋ณธ์€ ์ž๊ฐˆ๊ธธ์ด ์žˆ๋Š” ๊ฑฐ๋ฆฌ์™€ ๋ฉ‹์ง„ ์นดํŽ˜ ๋“ฑ ์—ญ์‚ฌ์ ์ธ ๋ชจ์Šต์„ ์œ ์ง€ํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค. ๋ง›์žˆ๋Š” ์Œ์‹๊ณผ ์™€์ธ, ์ข‹์€ ๋‚ ์”จ์™€ ํ•ด๋ณ€ ๋“ฑ ๋งŽ์€ ๋งค๋ ฅ์ด ์žˆ๋Š” ๋„์‹œ์ด์ฃ . ๋˜ํ•œ, ๊ฐ์ข… ์ปจํผ๋Ÿฐ์Šค ๋“ฑ์„ ๊ฐœ์ตœํ•˜๋ฉฐ ์„ธ๊ณ„์ ์ธ ์˜์‚ฌ๊ฒฐ์ • ์ค‘์‹ฌ์ง€๋กœ ๋น ๋ฅด๊ฒŒ ๋ณ€๋ชจํ•˜๊ณ  ์žˆ๋Š” ๋„์‹œ์ด๊ธฐ๋„ ํ•ฉ๋‹ˆ๋‹ค.

๊ธฐ์ˆ , ๋ฏธ๋””์–ด, ๊ธˆ์œต ๋“ฑ์˜ ์‚ฐ์—…์—์„œ ๋น ๋ฅธ ์„ฑ์žฅ์ด ์˜ˆ์ƒ๋˜๊ณ  ์žˆ์œผ๋ฉฐ, ๊ด€๊ด‘ ์—ญ์‹œ ์ฃผ์š” ์‚ฐ์—… ์ค‘ ํ•˜๋‚˜์ž…๋‹ˆ๋‹ค.

๋ถ€๋™์‚ฐ์—์„œ ๋ฆฌ์Šค๋ณธ ์‹œ์žฅ์ด ๊ฒช๋Š” ์–ด๋ ค์›€์€ ๊ฐ€๊ฒฉ์ด๋ฉฐ, ์ฝ”์–ด ํˆฌ์ž์ž ์ž…์žฅ์—์„œ๋Š” ๋ฌผ๊ฑด์„ ์ฐพ๋Š” ๊ฒƒ์ด ์–ด๋ ค์šด ์ƒํ™ฉ์ž…๋‹ˆ๋‹ค.

ํ•˜์ง€๋งŒ, ์œ ๋Ÿฝ์˜ ๋‹ค๋ฅธ ๋„์‹œ๋“ค๊ณผ ๋น„๊ต์‹œ, ์ž„๋Œ€๋ฃŒ๋Š” ์—ฌ์ „ํžˆ ์ €๋ ดํ•œ ํŽธ์ด๋ฉฐ ๋…ธ๋™์ธ๊ตฌ์˜ ์—ฐ๋ น์ธต์ด ์ Š๊ณ  ๊ต์œก์ˆ˜์ค€์ด ๋†’์€ ํŽธ์ž…๋‹ˆ๋‹ค. ์ž์‚ฐ์„ ๋งค์ž…ํ•˜๋ฉฐ ์šฉ๋„๋ฅผ ๋ณ€๊ฒฝํ•˜๊ฑฐ๋‚˜ ์ฝ”์–ด๋กœ ๋งŒ๋“œ๋Š” ์ฝ”์–ด ํ”Œ๋Ÿฌ์Šค(core-plus)๋‚˜ ๋ฐธ๋ฅ˜์• ๋“œ(value-add) ์ „๋žต์— ํˆฌ์ž๊ธฐํšŒ๊ฐ€ ์žˆ์„ ๊ฒƒ์œผ๋กœ ๋ณด์ž…๋‹ˆ๋‹ค.

๋ฆฌ์Šค๋ณธ์€ ์ƒ์—…์‹œ์„ค์ด ์—ฌ์ „ํžˆ ํˆฌ์ž๋Œ€์ƒ์œผ๋กœ ๋งค๋ ฅ์ ์ธ ๋„์‹œ ์ค‘ ํ•˜๋‚˜์ž…๋‹ˆ๋‹ค. ์Œ์‹๋ฃŒ ๋ฐ ๊ด€๊ด‘๊ณผ ๊ด€๋ จ๋œ ์ƒ์—…์‹œ์„ค์ด ์ธ๊ธฐ๊ฐ€ ์žˆ์œผ๋‚˜, ๊ทธ ์™ธ์—๋„ ํ”„๋ผ์ž„๊ธ‰ ์‡ผํ•‘์„ผํ„ฐ ๋“ฑ์— ํˆฌ์ž๊ธฐํšŒ๊ฐ€ ์žˆ์–ด ๋ณด์—ฌ ์ฝ”์–ด ์ „๋žต์ด ์ข‹์•„ ๋ณด์ž…๋‹ˆ๋‹ค. ๋‹ค๋งŒ, ํ”„๋ผ์ž„๊ธ‰์ด ์•„๋‹Œ 2์„  ์œ„์น˜์˜ ์ƒ์—…์‹œ์„ค์€ ๊ณ ์ „์„ ๋ฉด์น˜ ๋ชปํ•  ๊ฒƒ์œผ๋กœ ๋ณด์ž…๋‹ˆ๋‹ค.

๊ทธ ์™ธ์— ๊พธ์ค€ํ•œ ๊ด€๊ด‘ ์ˆ˜์š”๊ฐ€ ์ด์–ด์ง€๋ฉฐ ์ˆ™๋ฐ•์‹œ์„ค์— ๋Œ€ํ•œ ํˆฌ์ž๋„ ๊ธฐํšŒ๊ฐ€ ์žˆ์„ ๊ฒƒ์ด๋ผ๊ณ ๋„ ํ•ฉ๋‹ˆ๋‹ค.

Images from Unsplash and Pixabay

https://youtu.be/jjLkwKX-W0w


















February 27, 2020

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ, Ornithogalum]

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ, Ornithogalum]

์†๋ช…์ธ Ornithogalum์€ ๊ทธ๋ฆฌ์Šค์–ด๋กœ ์ƒˆ์˜ ์šฐ์œ (bird's milk)๋ผ๋Š” ๋œป์ด๋ผ๊ณ  ํ•ฉ๋‹ˆ๋‹ค.

๊ฝƒ๋ง: ์ˆœ์ˆ˜(purity); ์†์ฃ„(atonement), ํ™”ํ•ด(reconciliation) | 02/27

● ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ ์•„๋ผ๋น„์ฟฐ [Ornithogalum arabicum]

ํ•™๋ช…(ๅญธๅ, binomial name): Ornithogalum arabicum
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, Arab's eye, lesser cape-lily, Arabian starflower
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ์•„์ŠคํŒŒ๋ผ๊ฑฐ์Šค๋ชฉ(Asparagales)
๊ณผ(็ง‘, Family): Asparagaceae
์†(ๅฑฌ, Genus): Ornithogalum
์ข…(็จฎ, Species): Ornithogalum arabicum

● ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ ๋‚˜๋ณด๋„Œ์Šค [Ornithogalum narbonense]

ํ•™๋ช…(ๅญธๅ, binomial name): Ornithogalum narbonense
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, Narbonne star-of-Bethlehem, pyramidal star-of-Bethlehem, southern star-of-Bethlehem
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ์•„์ŠคํŒŒ๋ผ๊ฑฐ์Šค๋ชฉ(Asparagales)
๊ณผ(็ง‘, Family): Asparagaceae
์†(ๅฑฌ, Genus): Ornithogalum
์ข…(็จฎ, Species): Ornithogalum narbonense

์ข…์†Œ๋ช…์ธ ๋‚˜๋ณด๋„Œ์Šค(narbonense)๋Š” ํ”„๋ž‘์Šค ๋„์‹œ Narbonne์—์„œ ๋”ฐ์™”์Šต๋‹ˆ๋‹ค.

● ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ ๋ˆ„ํƒ„์Šค [Ornithogalum nutans, drooping star-of-Bethlehem]

ํ•™๋ช…(ๅญธๅ, binomial name): Ornithogalum nutans
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, drooping star-of-Bethlehem
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ์•„์ŠคํŒŒ๋ผ๊ฑฐ์Šค๋ชฉ(Asparagales)
๊ณผ(็ง‘, Family): Asparagaceae
์†(ๅฑฌ, Genus): Ornithogalum
์ข…(็จฎ, Species): Ornithogalum nutans
๊ฐœํ™”(้–‹่Šฑ, Florescence): ๋ด„(spring); ํšŒ๋ฐฑ์ƒ‰(grey-white)

์ข…์†Œ๋ช…์ธ ๋ˆ„ํƒ„์Šค(nutans)๋Š” ๊ณ ๊ฐœ๋ฅผ ๋„๋•์ด๋‹ค(nodding)๋Š” ์˜๋ฏธ๋กœ ๊ฝƒ์ด ์•ฝ๊ฐ„ ์ˆ™์ด๊ณ (drooping) ์žˆ์–ด์„œ ๋ถˆ๋ฆฌ๊ฒŒ ๋˜์—ˆ๋‹ค๊ณ  ํ•ฉ๋‹ˆ๋‹ค.

● ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ ํ”ผ๋ ˆ๋‚˜์ด์ฟฐ [Ornithogalum pyrenaicum, spiked star-of-Bethlehem]

ํ•™๋ช…(ๅญธๅ, binomial name): Ornithogalum pyrenaicum
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, Prussian asparagus, wild asparagus, Bath asparagus, Pyrenees star of Bethlehem, spiked star of Bethlehem
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ์•„์ŠคํŒŒ๋ผ๊ฑฐ์Šค๋ชฉ(Asparagales)
๊ณผ(็ง‘, Family): Asparagaceae
์†(ๅฑฌ, Genus): Ornithogalum
์ข…(็จฎ, Species): Ornithogalum pyrenaicum

์†๋ช…(ไฟ—ๅ, common name)์ธ Bath asparagus๋Š” ์˜๊ตญ์˜ ๋™๋ช… ๋„์‹œ(Bath, Somerset) ๊ทผ์ฒ˜์— ๋งŽ์ด ํ”ผ์–ด์„œ ๋ถˆ๋ฆฌ๊ฒŒ ๋˜์—ˆ๋‹ค๊ณ  ํ•ฉ๋‹ˆ๋‹ค.

● ์˜ค๋‹ˆ์†Œ๊ฐˆ๋ฃธ ์›€๋ฒจ๋ผํˆผ [Ornithogalum umbellatum, common star-of-Bethlehem]

ํ•™๋ช…(ๅญธๅ, binomial name): Ornithogalum umbellatum
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, garden star-of-Bethlehem, grass lily, nap-at-noon, eleven-o'clock lady
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ์•„์ŠคํŒŒ๋ผ๊ฑฐ์Šค๋ชฉ(Asparagales)
๊ณผ(็ง‘, Family): Asparagaceae
์†(ๅฑฌ, Genus): Ornithogalum
์ข…(็จฎ, Species): Ornithogalum umbellatum

Image: Star of Bethlehem (Ornithogalum umbellatum)
Date: 11 May 2018
Author: AnRo0002
Source: Wikimedia Commons in the public domain
https://commons.wikimedia.org/wiki/File:20180511Ornithogalum_umbellatum.jpg
Current location: 49° 12′ 54.9″ N, 7° 00′ 17.46″ E
Decimal: 49.215249, 7.004851


[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ํžˆํฌ๋ธŒ๋กœ๋งˆ ๋กฑ๊ธฐํ”Œ๋กœ๋ผ, Hippobroma longiflora]

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ํžˆํฌ๋ธŒ๋กœ๋งˆ ๋กฑ๊ธฐํ”Œ๋กœ๋ผ, Hippobroma longiflora]

ํ•™๋ช…(ๅญธๅ, binomial name): Hippobroma longiflora
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„,ํžˆํฌ๋ธŒ๋กœ๋งˆ ๋กฑ๊ธฐํ”Œ๋กœ๋ผ, Hippobroma longiflora, madamfate, ๋ง๋ฏธ์น˜๊ด‘์ดํ’€, ๋งˆ์ทจ์ดˆ
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์Œ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Dicotyledoneae)
๋ชฉ(็›ฎ, Order): ์ดˆ๋กฑ๊ฝƒ๋ชฉ(Campanulales), ๊ตญํ™”๋ชฉ(่Š่Šฑ็›ฎ, Asterales)
๊ณผ(็ง‘, Family): ์ดˆ๋กฑ๊ฝƒ๊ณผ(Campanulaceae)
์†(ๅฑฌ, Genus): Hippobroma
์ข…(็จฎ, Species): Hippobroma longiflora

์†๋ช… Hippobroma๋Š” ๋ง์˜ ๊ด‘์ฆ(horese madness)์„ ๋œปํ•˜๋Š”๋ฐ, ์ด๋Š” ์‹๋ฌผ์ฒด์— ๋…์ด ์žˆ๋Š” ํฐ ์œ ์•ก์ด ์žˆ์–ด์„œ ์ด๋ฅผ ๋จน์€ ๋ง์ด ๋ฏธ์นœ ์ฆ์ƒ์„ ๋ณด์ด๋Š” ๋ฐ์—์„œ ์œ ๋ž˜ํ–ˆ๋‹ค๊ณ  ํ•ฉ๋‹ˆ๋‹ค.

Image: Star of Bethlehem (Hippobroma longiflora)
Date: 12 February 2018, 13:41:06
Author: Kaldari
Source: Wikimedia Commons in the public domain
https://commons.wikimedia.org/wiki/File:Hippobroma_longiflora_Belize_2018.jpeg


[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem, Gagea; (Family) Liliaceae]

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem, Gagea; (Family) Liliaceae]

● ์ค‘์˜๋ฌด๋ฆ‡ [Gagea bohemica, early star of Bethlehem, radnor lily, Welsh star of Bethlehem; (Family) Liliaceae]

ํ•™๋ช…(ๅญธๅ, binomial name): Gagea bohemica
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, early star-of-Bethlehem, radnor lily, Welsh Star-of-Bethlehem
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ๋ฐฑํ•ฉ๋ชฉ(Liliales, Liliiflorae)
๊ณผ(็ง‘, Family): ๋ฐฑํ•ฉ๊ณผ(Liliaceae)
์†(ๅฑฌ, Genus): ์ค‘์˜๋ฌด๋ฆ‡์†(Gagea)
์ข…(็จฎ, Species): Gagea bohemica
๊ฐœํ™”(้–‹่Šฑ, Florescence): 1~4์›”; ๋…ธ๋ž€์ƒ‰(yellow)

๋‹ค๋ฅธ ์ข…๋“ค ๋ณด๋‹ค ์ผ์ฐ ๊ฐœํ™”ํ•˜๊ธฐ ๋•Œ๋ฌธ์— early star-of-Bethlehem๋ผ๊ณ  ๋ถˆ๋ฆฝ๋‹ˆ๋‹ค.

● ์ค‘์˜๋ฌด๋ฆ‡ [Gagea lutea, yellow star of Bethlehem; (Family) Liliaceae]

ํ•™๋ช…(ๅญธๅ, binomial name): Gagea lutea
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, yellow star of Bethlehem, ์ค‘์˜๋ฌด๋ฆ‡, Gagea lutea, ์กฐ์„ ์ค‘์˜๋ฌด๋ฆ‡, ์ฐธ์ค‘์˜๋ฌด๋ฆ‡, ์ค‘๋ฌด๋ฆ‡, ์• ๊ธฐ๋ฌผ๊ตฌ์ง€, ๋ฐ˜๋„์ค‘๋ฌด๋ฆ‡
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledon), ๋‹จ์ž์—ฝ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): ๋ฐฑํ•ฉ๋ชฉ(Liliales, Liliiflorae)
๊ณผ(็ง‘, Family): ๋ฐฑํ•ฉ๊ณผ(Liliaceae)
์†(ๅฑฌ, Genus): ์ค‘์˜๋ฌด๋ฆ‡์†(Gagea)
์ข…(็จฎ, Species): ์ค‘์˜๋ฌด๋ฆ‡(Gagea lutea)
๊ฐœํ™”(้–‹่Šฑ, Florescence): 4~5์›”; ๋…ธ๋ž€์ƒ‰(yellow)

์†๋ช…์ธ ์ž๊ฒŒ์•„(Gagea)๋Š” ์˜๊ตญ์˜ ๋ฐ•๋ฌผํ•™์ž ํ† ๋งˆ์Šค ๊ฒŒ์ด์ง€(Gage) ๊ฒฝ์˜ ์ด๋ฆ„์—์„œ ๋น„๋กฏ๋˜์—ˆ๊ณ  ์ข…์†Œ๋ช…์ธ lutea๋Š” ๋…ธ๋ž€์ƒ‰์„ ๋œปํ•ฉ๋‹ˆ๋‹ค.

Image: Star of Bethlehem (Gagea lutea)
Date: 3 April 2018, 13:39:15
Author: Nicolas Weghaupt
Source: Wikimedia Commons in the public domain
https://commons.wikimedia.org/wiki/File:Gagea_lutea_Anthese.jpg


[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์บ„ํŒŒ๋ˆŒ๋ผ ์ด์†Œํ•„๋ผ, Campanula isophylla]

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์บ„ํŒŒ๋ˆŒ๋ผ ์ด์†Œํ•„๋ผ, Campanula isophylla]

ํ•™๋ช…(ๅญธๅ, binomial name): Campanula
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, star of Bethlehem, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, ์บ„ํŒŒ๋ˆŒ๋ผ, Campanula, Italian bellflower, falling stars, trailing campanula, Jerusalem star, star bellflower, bellflower
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์Œ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Dicotyledoneae)
๋ชฉ(็›ฎ, Order): ์ดˆ๋กฑ๊ฝƒ๋ชฉ(Campanulales), ๊ตญํ™”๋ชฉ(่Š่Šฑ็›ฎ, Asterales)
๊ณผ(็ง‘, Family): ์ดˆ๋กฑ๊ฝƒ๊ณผ(Campanulaceae)
์†(ๅฑฌ, Genus): ์ดˆ๋กฑ๊ฝƒ์†(Campanula)
์ข…(็จฎ, Species): Campanula isophylla
๊ฐœํ™”(้–‹่Šฑ, Florescence): 5~9์›”; ํฐ์ƒ‰(white), ์—ฐ๋ณด๋ผ(mauve), ํ•˜๋Š˜์ƒ‰(blue)

Image: Star of Bethlehem (Campanula isophylla)
Date: 1870s
Author: Moggridge, John Traherne
Source: Wikimedia Commons (no known copyright restrictions exist)
https://commons.wikimedia.org/wiki/File:Contributions_to_the_flora_of_Mentone,_and_to_a_winter_flora_of_the_Riviera,_including_the_coast_from_Marseilles_to_Genoa_(1871)_(20069345803).jpg


[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์นผ๋ ‰ํƒ€์‹œ์•„ ํ‚ค์•„๋„ค์•„, Calectasia cyanea]

[02/27] ์•„๋ผ๋น„์•„์˜ ๋ณ„ [star of Bethlehem; ์นผ๋ ‰ํƒ€์‹œ์•„ ํ‚ค์•„๋„ค์•„, Calectasia cyanea]

ํ•™๋ช…(ๅญธๅ, binomial name): Calectasia cyanea
์ด๋ช…(็•ฐๅ): ์•„๋ผ๋น„์•„์˜ ๋ณ„, ๋ฒ ๋“ค๋ ˆํ—ด์˜ ๋ณ„, star of Bethlehem, ๋ฐ˜์ง์ด๋ฐฑํ•ฉ, tinsel lily, blue tinsel lily
๊ณ„(็•Œ, Kingdom): ์‹๋ฌผ๊ณ„(Plantae)
๋ฌธ(้–€, Division): ์†์”จ์‹๋ฌผ๋ฌธ, ํ˜„ํ™”์‹๋ฌผ๋ฌธ(Magnoliophyta), ํ”ผ์ž์‹๋ฌผ๋ฌธ(Angiospermae)
๊ฐ•(็ถฑ, Class): ์™ธ๋–ก์žŽ์‹๋ฌผ๊ฐ•(Monocotyledoneae)
๋ชฉ(็›ฎ, Order): Arecales
๊ณผ(็ง‘, Family): ๋‹ค์‹œํฌ๊ณค๊ณผ(Dasypogonaceae)
์†(ๅฑฌ, Genus): ์นผ๋ ‰ํƒ€์‹œ์•„์†(Calectasia)
์ข…(็จฎ, Species): Calectasia cyanea
๊ฐœํ™”(้–‹่Šฑ, Florescence): 7~1์›”; ๊ฝƒ๋ฐ›์นจ ํ‘ธ๋ฅธ์ƒ‰, ๊ฝƒ๋ฐฅ ๋ถ‰์€์ƒ‰, ์ฃผํ™ฉ์ƒ‰, ๋…ธ๋ž€์ƒ‰

์†๋ช… ์นผ๋ ‰ํƒ€์‹œ์•„(Calectasia)๋Š” ์•„๋ฆ„๋‹ค์›€์„ ์˜๋ฏธํ•˜๋Š” ๊ทธ๋ฆฌ์Šค์–ด calos์™€ ํ™•์žฅ์ฆ์„ ์˜๋ฏธํ•˜๋Š” ectasia์—์„œ ํŒŒ์ƒ๋œ ํ•ฉ์„ฑ์–ด๋กœ ๋ณ„ ๋ชจ์–‘์˜ ๊ฝƒ๋ฐ›์นจ์„ ๋‚˜ํƒ€๋‚ด์—ˆ์œผ๋ฉฐ, ์ข…๋ช… cyanea๋Š” ์ง™ํ‘ธ๋ฅธ ์ƒ‰์„ ์˜๋ฏธํ•˜๋Š” ๊ทธ๋ฆฌ์Šค์–ด kyaneos์—์„œ ํŒŒ์ƒ๋œ ๋ผํ‹ด์–ด์ž…๋‹ˆ๋‹ค.

Image: Star of Bethlehem (Calectasia cyanea)
Date: 1853
Author: Bory de Saint-Vincent; Bory de Saint-Vincent; Drapiez, Pierre Auguste Joseph
Source: Wikimedia Commons in the public domain in its country of origin and other countries and areas where the copyright term is the author's life plus 70 years or less
https://commons.wikimedia.org/wiki/File:Dictionnaire_classique_des_sciences_naturelles_(9368555451).jpg