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MIRA INFORM REPORT
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Report Date : |
19th May 2006 |
IDENTIFICATION DETAILS
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Name : |
KYUNG-IN SYNTHETIC CORPORATION (KISCO) |
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Registered Office : |
223-52, Seoknam-dong, Seo-ku, Inchon, Korea |
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Date of Incorporation : |
14/10/1977 |
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Legal Form : |
Listed company |
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Line of Business : |
Manufacturers of
synthetic colouring matter, tanning materials and other coloring agents |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Ⅰ. Basic Information
Basic
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Company Name |
Kyung-In
Synthetic Corporation (KISCO) |
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Address |
223-52,
Seoknam-dong, Seo-ku, Inchon, Korea |
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Building |
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Zip Code |
404-220 |
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Tel |
+82-32-571-7498 |
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Fax |
+82-32-571-7497 |
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E-mail |
kisco@kyungin.co.kr |
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Website |
www.kyungin.co.kr |
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SEOUL OFFICE |
112-31 Yeomchang-dong Kangseo-ku, Seoul, 157-860 Korea |
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Tel |
+82-2-3665-4001 |
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Fax |
+82-2-3660-8539 |
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SHIHEUNG FACTORY |
706, 1-La,
Jungwang-dong, Shiheung-city, Kyunggi-do 429-450, Korea |
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Tel |
+82-31-499-4020 |
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Fax |
+82-31-499-2155 |
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ANSAN FACTORY |
785-7,
Wonshi-dong, Ansan-city, Kyunggi-do 425-090, Korea |
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Tel |
+82-31-491-0110 |
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Fax |
+82-31-495-3521 |
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Type |
Export/Import |
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Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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Main Business |
Reactive Dyestuffs, Disperse Dyestuffs, Acid Dyestuffs, Direct
Dyestuffs, Fluorescent Dyestuffs, Solvent Dyestuffs |
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Sub Business |
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Established (mm/dd/yyyy) |
10/14/1977 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Dyes(12171500) |
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Others
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Name |
David J. Huh |
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Address |
- |
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Date of Birth (mm/dd/yyyy) |
11/02/1965 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
15,000,000,000KRW |
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Employees |
325 |
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Formation |
Listed company (KSE : 012610) |
Ⅱ. Detailed Information
Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
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President
& CEO |
Mr. |
David
J. Huh |
Male |
1965.11.02 |
Dowling
College MBA |
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Chairman |
Mr. |
Kim
Dong-Kil |
Male |
1938.03.03 |
Seoul
National University |
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Vice
Chairman |
Mr. |
Kim
Hung-Joon |
Male |
1967.06.14 |
Hanyang
University |
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Executive
Director |
Mr. |
Lee
Jin-Han |
Male |
1958.09.21 |
Sungkyunkwan
University |
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Director |
Mr. |
Takashi
Miyagawa |
Male |
1951.05.15 |
SUMITOMO
CORP |
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Outside
Director |
Mr. |
Jang
Sang-Jae |
Male |
1936.10.10 |
Seoul
National University |
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Outside
Director |
Mr. |
Kim
Jung-Hong |
Male |
1937.08.08 |
Seoul
National University |
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Auditor |
Mr. |
Sung
Nak-Kwan |
Male |
1936.01.03 |
Seoul
National University |
Financials
Unit:
KRW
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Year |
Sales |
Assets |
Net income |
|
2005 |
88,050,292,316 |
100,565,451,354 |
2,533,411,044 |
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2004 |
95,832,343,219 |
92,524,130,882 |
4,301,525,438 |
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2003 |
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2002 |
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Financial Description
Unit:
KRW
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Authorized Capital |
25,000,000,000 |
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Paid-Up Capital |
15,000,000,000 |
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Total Issued Shares |
3,000,000 |
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Balance
Sheet Unit:
KRW |
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As of 12/31/2005 |
As of 12/31/2004 |
2003 |
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Total Assets |
100,565,451,354 |
92,524,130,882 |
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Current Assets |
59,612,289,958 |
57,832,218,897 |
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Fixed Assets |
40,953,161,396 |
34,691,911,985 |
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Total Liabilities |
31,945,929,065 |
31,388,823,807 |
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Current Liabilities |
28,043,831,661 |
26,889,563,401 |
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Fixed Liabilities |
3,902,097,404 |
4,499,260,406 |
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Capital Stock |
15,000,000,000 |
15,000,000,000 |
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Capital Surplus |
19,478,847,766 |
19,029,245,025 |
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Profit Surplus |
34,003,762,524 |
32,758,458,980 |
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Capital Adjustment |
136,911,999 |
(-)5,652,396,930 |
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Total Equity |
68,619,522,289 |
61,135,307,075 |
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Total Liabilities & Equity |
100,565,451,354 |
92,524,130,882 |
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Income
Statement Unit:
KRW |
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As of 12/31/2005 |
As of 12/31/2004 |
2003 |
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Sales |
88,050,292,316 |
95,832,343,219 |
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Cost of Sold Goods |
75,469,391,434 |
79,336,688,598 |
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Gross Profit |
12,580,900,882 |
16,495,654,621 |
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Selling & Admin. Expenses |
12,356,396,285 |
14,075,747,524 |
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Operating Income |
224,504,597 |
2,419,907,097 |
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Non-Operating Income |
5,142,965,858 |
4,009,581,913 |
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Non-Operating expenses |
3,119,843,480 |
1,294,522,790 |
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Ordinary Income |
2,247,626,975 |
5,134,966,220 |
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Special Income |
- |
- |
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Income Before Taxes |
2,247,626,975 |
5,134,966,220 |
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Income Taxes Expenses |
(-)285,784,069 |
833,440,782 |
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Net Income |
2,533,411,044 |
4,301,525,438 |
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Bank Details |
Industrial Bank Youngdungpo Branch |
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Corporate Registered No. |
120111-0005703 |
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Business Registered No. |
137-81-00562 |
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Permit & Licenses |
05/31/1995 ISO 9002 11/30/1997 ISO 14001 |
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Shareholder Position |
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Company History
1971. 10. Established Syno Chemical Industrial Co., Ltd.
1976. 08. Founded Samjung
Industrial Co., Ltd.
1976. 10 . Renamed
Syno Chemical Industrial Co., Ltd. to Kyung-In Chemical Co., Ltd.
1977. 10. Changed Kyung-In Chemical Co., Ltd. to Kyung-In
Synthetic Corporation (KISCO)
1978. 01. Changed
Samjung Industrial Co., Ltd. to Kyung-In Synthetic Co., Ltd. (KISC)
1978. 01. Kim Dong-Gil inaugurated as chairman of the
board of directors
1980. 06. Dedicated
KISCO's Seoul office building and the Dyestuff Research and Development
Institute
1983. 03. KISCO installed a
spray dryer for the first time in Korea.
1984. 08. KISCO
designated as an outstanding small and medium-sized industrial firm by Korea
Industrial Research Institute
1984. 09. Dedicated the Ansan
Factory of KISC
1987. 11. KISCO
awarded US$5 Million Export Tower from the government and the Prime Minister
Award
1987. 12. KISCO
presented the Best Industry Award (at the award ceremony of the first National
Science Award)
1988. 02. Dedicated the
expanded Ansan Factory of KISC
1988.04. KISC
signed a technical cooperation agreement with Showa Kako Corporation of Japan.
1988.10. KISCO'S
Dyestuff Institute designated by the government as a research institute whose
workers are exempted from the active military service
1988.11. KISCO received the US$10 Million Export Tower
1988.12. KISCO's
new chemical product registered with Japanese government according to
Japan's chemical substance control
law.
1989. 08. KISCO acquired
Samwon Chemical Industrial Co., Ltd.
1989.10. KISCO
dedicated low-cost apartments for the employees in Inchon; KISC built
low-cost apartments for the employees
in Ansan
1989.11. KISC received the
US$5 Million Export Tower
1989.12. Dedicated the
expanded Seoul office of KISCO
1992. 08. KISC acquired
equity of Rachada Chemicals Co., Ltd. based in
Thailand
1992. 11. Founded Eastwell Co.,
Ltd.
1994. 12. KISCO received the
12th Venture Business Award
1995. 05. KISCO
acquired ISO 9002 Quality Assurance Certificate from Lloyd's Register Q.A. of
the United Kingdom
1995. 07. KISCO
awarded the Korea Textile Grand Prize in the Dyestuff and Pigment Division
1995. 10. KISCO
stocks listed on the Korea Stock Exchange (Paid-in capital: 6.5 billion won)
1996. 04. KISCO acquired
equity of Namo Interactive Inc.
1995. 06. KISCO
won Textile Industry Grand Award in Dyestuff and Pigment Division
1997. 03. KISCO
received a citation from the West Inchon Tax Office on Taxation Day.
1997. 05. KISCO received a
citation from the Prime Minister on Labor Day.
1997. 05. KISCO
established Turkey joint ventures Kimsoy Chemical Industries, Inc. and Kimsoy
Exim, Inc.
1997. 05. KISCO established
United States joint-venture KISCO USA, Inc.
1997. 06. KISCO
signed a Strategic Alliance Agreement with Sumitomo Chemical Co., Ltd. of Japan
for overall cooperation in dyestuff
technology and production
1997. 06. KISCO established
Joint Ventures PAPITECH.CO., Ltd.
1997. 11. KISCO received
Bronze Tower Medal on Export Award Day.
1997. 12. KISCO received ISO
14001 (KSA QA)
1998. 08. KISCO
signed the sale contract for Disperse dyestuffs with Ciba-Geigy of Switzerland.
1998. 12. KISC merged into
KISCO.
1999. 07. KISCO was admitted
to the membership of ETAD
1999. 07. KISCO
launched in an environmental business (Green Systems Engineering Services)
2000. 05. KISCO made the
investment into YangWoo corporation
2001. 04. KISCO
made the investment into NAMO IT Company Limited in Thai
2001. 11. KISCO
was selected the Leading Export Company of Parts and Materials from Ministry
of Commerce, Industry and Energy
2001. 12. KISCO established
Eastwell China Company Limited in Shanghai
2001. 12. KISCO
acquired ISO-18001(Occupational Health and Safety Management Systems)
certification
2002. 09. KISCO
was awarded the Greatest Prize for the New Labor-Management Culture from the
Ministry of Labor
2002. 12. KISCO made the
investment into G & Net Company
2003. 02. KISCO developed new
reactive dyestuff products of 'K-Series'
2003. 02. KISCO
changed the name of Eastwell China into KISCO International Trading(Shanghai)
Co.,Ltd.
2003. 03. KISCO
was awarded the prize of perfect harmony between labor and management from
the Ministry of Labor
2003. 04. KISCO took the
stocks of Seil Chemicals Industrial Co., Ltd.
2003. 05. KISCO
contracted with Ciba Specialty Chemicals in terms of strategic manufacturing
agreement
2003. 09. KISCO
completed expanding and remodeling of central R&D center.
2003. 11. KISCO
was honorably awarded an Export Statue of 50 million $, a Bronze Medal of
Industry, and a President Commendation at a time on 40th Tradeday.
2003. 12. KISCO
signed the agreement of capital increase with SUMITOMO CORPORATION
Products, Technologies, Services Description
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Main Products & Services |
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Detailed Products Spec. |
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Technologies Acquired |
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Organization Structure
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Suppliers |
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Customers |
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Competitors |
Oh
Young Industrial Co., Ltd. Ehwa
Industry Co., Ltd. |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
Eastwell Co., Ltd. 315, 1-Ma, Jungwang-dong, Shiheung-city, Kyunggi-do 429-450, Korea Tel : (82-345) 497-1101 Fax : (82-345) 497-3335 Papitech Co., Ltd. 240-1 Hasa-li, Hasung-myun Kimpo-City, Kyunggi-do, 415-880 Korea Tel : (82-2) 988-9977 Fax : (82-2) 988-7639 Kimsoy Dyes Trade Company, Inc. Rachada Chemicals Co., Ltd. KISCO USA, Inc. KISCO INT'L TRADING (SHANGHAI) CO., LTD. JMC Co., LTD. Yangwoo Co., Ltd. NAMO IT |
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Overseas Office |
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Liaison Office |
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Overseas Branch |
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Join Venture |
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Subsidiary |
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Corporate Ownership |
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Major Shareholders |
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Cooperative Enterprise |
Sumitomo Chemical (Japan) T.H INT. (USA) |
Sales Spread
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Unit : Mil KRW |
2005 |
2004 |
2003 |
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Export |
14,913 |
13,797 |
65,204 |
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Domestic |
5,358 |
5,147 |
22,846 |
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Total |
20,271 |
18,944 |
88,050 |
AS PER WEBSITE DETAILS
COMPANY
Kyung-In Synthetic
Corporation (KISCO), the parent of the
Kyung-In family, has been producing and supplying environment-friendly,
high-class dyestuff since its incorporation, including Reactive, Disperse,
Acid, and Direct dyestuffs. KISCO has also been providing the textile,
fur and other related industries with technical assistance and service as well
as the dyestuffs for the purpose of assisting the development of these
industries.
An extensive
management innovation drive is under way to further attain improvement in all
areas, including R&D, production, quality, control and management.
This campaign is being implemented with a firm belief that "Happy
employees make satisfied customers."
Our employees and executives
are making a concerted effort to make Kyung-In a company of the campaign they
thus remain fully committed to creating a better world in the future.
RATING EXPLANATIONS
RATING
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STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |