MIRA INFORM REPORT

 

 

Report Date :

01.03.2007

 

IDENTIFICATION DETAILS

 

Name :

Korea Atomic Energy Research Institute (KAERI)

 

 

Registered Office :

150, Deogjin-dong, Yuseong-gu, Daejeon (P.O.Box 105)

 

 

Country :

Korea

 

 

Financials (as on) :

31.12.2004

 

 

Date of Incorporation :

07/02/1997

 

 

Legal Form :

Research Institute-Special Corporation

 

 

Line of Business :

Research and Experimental Development On Engineering and Technique

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Basic

 

Company Name

Korea Atomic Energy Research Institute (KAERI)

Address

150, Deogjin-dong, Yuseong-gu, DAEJEON, KOREA

(P.O.Box 105)

Zip Code

305-353

Tel

+82-42-868-2000~1

Fax

+82-42-868-9161  +82-42-868-2702

E-mail

webmaster@kaeri.re.kr

Website

www.kaeri.re.kr

Korea Cancer Center

Hospital

Korea Cancer Center Hospital, 215-4, Gongneung 2-dong, Nowon-gu, SEOUL, KOREA

Tel

+82-2-970-2114

Fax

+82-2-978-2005

Jeongeup Branch Office

1266, Sinjeong-dong, Jeongeup-si, Jeollabuk-do, Korea

Type

Professional Service

Industry

Research and Experimental Development On Engineering and Technique

  Main Business

Research Service

Established

07/02/1997

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Nuclear basic research

Sell

Nuclear Safety Research

Sell

KALIMER Development

Sell

Advanced Reactor Technology Development

Sell

Advanced Fuel Technology Development

Sell

Research on Back-End of the Fuel Cycle

Sell

Research Reactor Utilization

Sell

Research & Development on radiation & Research Application

Sell

Nuclear Training Center

Sell

Nuclear Technology Corporation

Sell

Nuclear Policy Study

Sell

Technical Cooperation among Industries, Academies and Research Institutes

Sell

Korea Institute of Radiological & Medical Sciences

 

 

Others

 

Name

Dr. Park Chang-Kue

Address

520-1, Noeun-dong, Yuseong-gu, Daejeon 305-768 Korea

Date of Birth

11/28/1951

Title

President

Sex

Male

Nationality

Korean

Capital

Not Applicable

Employees

1,096

Formation

Research Institute-Special Corporation

Founded in 1959, KAERI, as the sole national nuclear R＆D research institution, has greatly contributed to strengthening the competitive edge of the nation's science and technology by achieving technological self-reliance in nuclear technology and expanding its research activities to other related areas.

 

From such a perspective, the localization of PWR and PHWR fuels, the designing and construction of HANARO, which is a world-class research reactor, and the development of Korea Standard Nuclear Plant (KSNP) set new milestones for the nuclear power program in Korea.

 

The Korea Institute of Nuclear Safety, responsible for supporting the government in regulatory and licensing works, and the Nuclear Environment Technology Institute, responsible for low and medium level radioactive waste management, are also original spin-offs from KAERI.

 

KAERI established the present Korea Power Engineering Co., Inc.(KOPEC), responsible for not only the architectual engineering works of nuclear power plants, but also the design of the nuclear steam supply systems. KAERI also established the present Korea Nuclear Fuel Co., Ltd.(KNFC), responsible for designing and manufacturing PWR as well as PHWR fuels.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Day

President & CEO

Dr.

Park Chang-Kue

Male

Korean

04/29/2005

Sr. Vice President

Dr.

Jung Yon-Ho

Male

Korean

-

Vice President

Dr.

Park Seong-Won

Male

Korean

-

Vice President

Dr.

Kim Cheol-Jung

Male

Korean

-

Vice President

Dr.

Jin Jun-Byung

Male

Korean

-

Vice President

Dr.

Hahn Pil-Soo

Male

Korean

-

Vice President

Dr.

Chng Jong-Hwa

Male

Korean

-

Vice President

Dr.

Zee Sung-Kyun

Male

Korean

-

Auditor

Mr.

Kim Hong-Kwon

Male

Korean

-

 

 

Financials                                                

 

Unit: KRW

Year

Sales

Assets

Net income

2004

183,770

358,487

-6,003

2003

173,462

357,019

-1,214

2002

168,077

347,320

3,834

The latest financial is not available.

 

 

Financial Description

 

       Unit: KRW

Authorized Capital

Not Applicable

Paid-Up Capital

Not Applicable

Total Issues Shares

Not Applicable

 

Balance Sheet                           Unit : Million Korean Won

 

As of 12/31/2004

As of 12/31/2003

As of 12/31/2002

Total Assets

358,487

357,019

347,320

Current Assets

97,710

99,440

97,904

-Quick Assets

97,440

99,215

97,663

-Inventories

270

225

241

Fixed Assets

260,777

257,579

249,416

-Investment

16,189

14,431

12,625

-Tangibles

244,588

243,148

236,791

-Intangibles

-

-

-

Total Liabilities

108,249

114,814

119,826

Current Liabilities

86,871

89,811

85,232

Fixed Liabilities

21,379

25,002

34,594

Capital Stock

4,096

4,096

4,096

Capital Surplus

300,098

286,062

270,137

Profit Surplus

-53,956

-47,953

-46,739

Capital Adjustment

-

-

-

Total Equity

250,238

242,205

227,494

Liab. & Shareholder’s Equity

358,487

357,019

347,320

 

    Income Statement                       Unit : Million Korean Won

 

As of 12/31/2004

As of 12/31/2003

As of 12/31/2002

Sales

183,770

173,462

168,077

Cost of Sold Goods

138,551

126,711

117,587

Gross Profit

45,219

46,751

50,490

Selling & Admin. Expenses

61,858

61,650

62,020

Operating Income

-16,638

-14,899

-11,530

Non-Operating Income

12,481

15,519

17,529

Non-Operating expenses

1,792

2,895

2,165

Ordinary Income

-5,949

-2,275

3,834

Special Income

7

1,197

-

 

61

135

-

Income Before Taxes

-6,003

-1,214

3,834

Income Taxes Expenses

-

-

-

Net Income

-6,003

-1,214

3,834

 

 

Bank Details

Korea Development Bank

 

 

Corporate Registered No.

160122-0000307

 

 

Business Registered No.

314-82-00813

 

 

Shareholder Position

Government of The Republic of Korea

 

Company History

March 1959 Atomic Energy Research Institute(AERI) established as an affiliate of the Office of Atomic Energy(OAE)

March 1967 Administrative functions of the OAE transferred to the Atomic Energy Bureau(AEB), newly established within the Ministry of Science and Technology(MOST) 

February 1973 Atomic Energy Research Institute(AERI), Radiological Research Institute (RRI), and Radiation Research Institute in Agriculture(RRIA) were merged into one to become the present KAERI 

October 1975 KAERI established the present Korea Power Engineering Corporation (KOPEC), a nuclear power plant architectural engineering company, as a sister organization 

December 1976 Korea Nuclear Fuel Development Institute (KNFDI) was established 

December 1980 KAERI merged with KNFDI and the name changed to the Korea Advanced Energy Research Institute November 1982 KAERI established the present Korea Nuclear Fuel Co., Ltd.(KNFC), a nuclear fuel manufacturer 

January 1988 Korea Cancer Center Hospital (KCCH) was recognized as an affiliate of KAERI 

December 1989 Name restored to the previous Korea Atomic Energy Institute 

February 1990 Nuclear Safety Center under KAERI became an independent organization known as the Korea Institute of Nuclear Safety(KINS) 

September 1990 KAERI established the Nuclear Environment Management Center(NEMAC) as an affiliate of KAERI 

December 1996 In accordance with the national policy to streamline the domestic nuclear energy management system, activities of nuclear engineering, nuclear fuel designing, and radioactive waste management were transferred from KAERI to the other industries

 

 

Products, Technologies, Services

Description

 

Main Products & Services

Nuclear basic research

Nuclear Safety Research

KALIMER Development

Advanced Reactor Technology Development

Advanced Fuel Technology Development

Research on Back-End of the Fuel Cycle

Research Reactor Utilization

Research & Development on radiation & Research Application

Nuclear Training Center

Nuclear Technology Corporation

Nuclear Policy Study

Technical Cooperation among Industries, Academies and Research Institutes

Korea Institute of Radiological & Medical Sciences

 

 

Trade Partners

 

Not Available

 

 

Sales by Region (Activity & Markets)

 

Not Available

 

 

Court Action

 

Not Available

 

RATING EXPLANATIONS

 

RATING

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions