MIRA
INFORM REPORT
|
Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HANWHA CORPORATION |
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Registered Office : |
24th Fl., Hanwha Bldg., 1, Janggyo-dong, Jung-gu, Seoul -
100-797 |
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Country : |
Korea |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
10/28/1952 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Explosives and Pyrotechnic Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
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Company
Name |
HANWHA CORPORATION |
|
Registered Address |
1, Janggyo-dong, Jung-gu, Seoul, Korea |
|
Building |
24th Fl., Hanwha Bldg. |
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Zip Code |
100-797 |
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Tel |
+82-2-729-1114 |
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Fax |
+82-2-729-1762 |
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E-mail |
hanwhacorp@hanwha.co.kr;calmmoon@hanwha.co.kr;swhong26@hanwha.co.kr |
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Website |
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Trading Address |
24th Fl., Hanwha Bldg., 1, Janggyo-dong,
Jung-gu, Seoul, Korea |
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Tel |
+82-2-729-1114 |
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Fax |
+82-2-729-1762 |
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Other Address- Changwon Factory |
39, Ungnam-Dong, Changwon-Si, Gyeongnam-Do
641-290 Korea |
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Tel |
+82-55-278-2880 |
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Other Address- Gumi Factory |
258, Gongdan-Dong, Gumi-Si, Gyeongbuk-Do
730-030 Korea |
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Tel |
+82-54-467-8500 |
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Other Address- Daejeon Factory |
52-1, Waesam-Dong, Yuseong-Gu, Daejeon
305-156 Korea |
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Tel |
+82-42-829-2255 |
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Other Address- Incheon Factory |
50, Gojan-Dong, Namdong-Gu, Incheon 405-310
Korea |
|
Tel |
+82-32-460-1114 |
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Fax |
+82-32-446-1889 |
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Other Address- Yeosu Factor |
805, Sinwol-Dong, Yeosu-Si, Jeonnam-Do
550-190 Korea |
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Tel |
+82-61-640-1114 |
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Other Address- Cheonan Factory |
402-1, Sinwol-Ri, Seongkeo-Eup, Cheonan-Si,
Chungnam-Do 330-834 Korea |
|
Tel |
+82-41-580-3800 |
|
Other Address- Boeun Factory |
111, Eomdun-Ri, Naebuk-Byeon, Boeun-Gun,
Chungbuk-Do 376-812 Korea |
|
Tel |
+82-43-540-0114 |
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Other Address- Onsan Factory |
753, Wonsan-Ri, Onsan-Eup, Ulju-Gun, Ulsan
689-892 Korea |
|
Tel |
+82-52-237-6512 |
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Other
Address- Yeongnam Business Dept. |
127-8, Gamjeon-Dong, Sasang-Gu, Busan
617-250 Korea |
|
Tel |
+82-51-312-9955 |
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Other
Address- Donghae Branch |
San 24, Mangsang-Dong, Donghae-Si,
Gangwon-Do 240-080 Korea |
|
Tel |
+82-33-532-2747 |
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Other
Address- Taeback Branch |
253-119, Hwangji-Dong, Taeback-Si,
Gangwon-Do 235-010 Korea |
|
Tel |
+82-33-552-2410 |
|
Fax |
+82-33-552-3664 |
|
Other
Address- Gwangju Branch |
1352, Songjeon 2-Dong, Gwangsan-Gu,
Gwangju 506-807 Korea |
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Tel |
+82-62-942-8011 |
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Other
Address- Busan Branch |
47, Daechang-dong 1-Ga, Jung-Gu, Busan
600-101 Korea |
|
Tel |
+82-51-469-6066 |
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Other
Address- Cheonan Branch |
89, Namgwan-Ri, Pungse-Myeon, Cheonan-Si,
Chungnam-Do 330-911 Korea |
|
Tel |
+82-41-578-7224 |
|
Other
Address- Jecheon Branch |
169-1, Sigok-Ri, Songhak-Myeon, Jechon-Si,
Chungbuk-Do 390-813 Korea |
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Tel |
+82-43-647-3644 |
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Other
Address- Guro Business Office |
52-357, Gocheok-Dong, Guro-Gu, Seoul
152-080 Korea |
|
Tel |
+82-2-2689-1404 |
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Other
Address- Goyang Branch |
San 118, Yongdu-Dong, Deokyang-Gu,
Goyang-Si, Gyeonggi-Do 412-110 Korea |
|
Tel |
+82-2-353-1770 |
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Other
Address- Jeomchon Branch |
524-1, Gongpyeong-Dong, Mungyeong-Si,
Gyeongbuk-Do 745-150 Korea |
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Tel |
+82-54-552-2318 |
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Type |
Export/Import |
|
Industry |
Manufacture of Explosives and Pyrotechnic Products |
|
Main Business |
Industrial Explosive, Network Equipment, CDMA |
|
Established (mm/dd/yyyy) |
10/28/1952 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Explosive initiators(12131704) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Dynamite(12131501) |
|
Sell |
Fireworks(12131601) |
|
Sell |
Igniters(12131700) |
|
Sell |
Gold(11101801) |
|
Sell |
Bombs and grenades(46111500) |
|
Sell |
Stainless steel plate(30102205) |
|
Sell |
Bearings(31171500) |
|
Sell |
Newsprint and offset papers(14121900) |
|
Sell |
Coated papers(14121800) |
|
Sell |
Art or craft paper(14111606) |
|
Sell |
Pyrotechnics(12131600) |
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Sell |
Blasting caps(12131701) |
|
Sell |
Metal and mineral industries(73120000) |
|
Sell |
Organic derivatives and substituted
compounds(12352100) |
|
Sell |
Ammonia(12142103) |
|
Sell |
International trade services(80151600) |
|
Sell |
Printing and writing paper(14111500) |
|
Sell |
Inorganic compounds(12352300) |
|
Sell |
Meat and poultry(50111500) |
|
Sell |
Airbags(25172101) |
|
Sell |
Demolition services(72103003) |
|
Sell |
Civil engineering(81101500) |
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Sell |
Lip balm(53131630) |
CEO’s
|
Name |
Nam Young-Sun |
|
Date of Birth |
04/02/1953 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
377,628,145,000 KRW |
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Employees |
2,796 |
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Formation |
Listed Company (Korea Stock Exchange: 000880) as of 06/25/1976 A Company of HANWHA GROUP |
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Bank Details |
Woori Bank- Euljiro 1-Ga Branch Korea Development Bank Korea Exchange Bank Kookmin Bank Shinhan Bank |
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Corporate Registered No. |
110111-0002959 |
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Business Registered No. |
202-81-16825 |
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Permit & Licenses |
09/1995 ISO 9002 |
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Shareholder Position |
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Company History |
2007.07 Participated in Yemen’s 4 Zone Oil
Development Project 2005.05 Signed business agreement to
develop the land for the Incheon factory
2003.11 Sold Information &
Communications Division’s Switchboard Unit
2003.06 Sold Information &
Communications Division’s Mobile Communications Unit 2003.04 Formally announced ethical
management initiative 2002.07 Spun-off Construction Division
(Hanwha Engineering & Construction Co.) and Machinery Division (Hanwha
Machinery Co.) 2002.03 Sold Information &
Communications Division’s Transmission Operations Unit and underwent further
streamlining 2001.12 Acquired Defense Product Unit from
Daewoo Electronics (currently the Gumi factory) 2001.03 Spun-off Information Division
(Hanwha S&C) 2000.09 Machinery Division acquired
aircraft components factory (CheonanFactory)
1999.12 Spun-off Pharmaceutical Division
(H-Pharm Co.) 1999.12 Spun-off Power Generation Division
(Hanwha Energy Co.) 1999.09 Acquired Power Generation Unit
from Korea Energy (formerly Hanwha Energy)
1998.12 Incorporated with Hanwha Machine
Co. (Machinery Division) 1998.11 Awarded the Silver Tower
Industrial Medal and the $1 Billion Export Tower award 1996.10 Incorporated with Hanwha
Electronic Information & Communication Co. (Information &
Communications Division) 1996.02 Incorporated with Duksan
Construction Co. (Construction Division)
1995.12 Assumed operations of Central
Pharmacy 1995.09 Received ISO 9002
certification 1995.01 Incorporated with Golden Bell
Trading Co. (Trade Division) 1993.03 Officially became Hanwha
Corporation 1992.05 Completed construction of Nitrate
Manufacturing Plant in Incheon 1991.10 Completed construction of Boeun
factory 1990.11 Received Korea Productivity Grand
Prize 1989.01 Sold Kimpo Ceramics’ Factory 1988.01 Incorporated with Sanda Co.
(currently the Explosives Division’s Changwon factory) 1987.07 Acquired Daejeon factory 1984.04 Acquired Kimpo Ceramics’
factory 1982.11 Awarded the Gold Tower Industrial
Medal and the $100 Million Export Tower award 1979.12 Established Central Research
Institute 1978.08 Completed construction of Yeosu
Factory 1976.06 Company’s IPO (Capital stock: KRW
3.274 million) 1974.05 Officially designated as a Defense
Contractor 1955.10 Acquired Chosun Oil & Fat
Company’s Incheon factory 1952.10 Established as Korea Explosive Co. |
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The Subject Company
is a Korean company primarily engaged in the production of explosives. The
Company manufactures gunpowder, percussion powder and various explosive
compounds for the defense and construction industries. In addition, the Company
produces inflators used in automotive airbags. Hanwha Corp has 12 subsidiaries
involved in chemical manufacture, finance and the hospitality businesses.
During the year ended December 31, 2006, the sale of explosive compounds for
defense industries accounted for 63.3% of total sales. The Company established
a subsidiary, Hanwha International (Shanghai) Co.,Ltd., which is engaged in
trading business, on May 30, 2007.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
Chairman |
Mr. |
Kim Seung-Yon |
Korean |
1952.02.07 |
The Graduated School of De Pole University |
|
Co-President & CEO/Explosive Div. |
Mr. |
Nam Young-Sun |
Korean |
1953.04.02 |
Yonsei Iniversity |
|
Co-President & CEO/Trade Div. |
Mr. |
Yang Tae-Jin |
Korean |
1949.05.14 |
Seoul National University |
|
Executive Director |
Mr. |
Han Kwon-Tae |
Korean |
1955.03.22 |
Seogang University |
|
Outside Director |
Mr. |
Nam Il-Hwan |
Korean |
1951.07.10 |
Chungang University |
|
Outside Director |
Mr. |
Jung Jin-Tae |
Korean |
1934.08.05 |
Seoul National University |
|
Outside Director |
Mr. |
Pyo Soon-Bae |
Korean |
1942.04.25 |
Korea Military Academy |
|
Outside Director |
Mr. |
Oh Jae-Deok |
Korean |
1933.03.30 |
Seoul National University |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2,293,081,639,543 |
4,205,878,343,488 |
272,854,639,481 |
|
|
2005 |
2,150,672,516,399 |
3,448,001,532,340 |
114,157,122,401 |
|
2004 |
2,378,598,196,724 |
3,384,245,709,314 |
241,737,091,895 |
|
2003 |
2,200,754,855,949 |
2,513,734,991,708 |
70,206,212,572 |
Financial Description
Unit: KRW
|
Authorized
Capital |
1,000,000,000,000 |
|
Paid-Up
Capital |
377,628,145,000 |
|
Total Issues Shares |
75,525,629 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2007~06/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
4,484,252,000,000 |
4,205,878,343,488 |
3,448,001,532,340 |
|
Current Assets |
1,697,088,000,000 |
1,556,218,652,307 |
784,626,413,510 |
|
-Quick Assets |
1,089,037,000,000 |
1,069,015,426,569 |
528,185,289,270 |
|
-Inventories |
608,051,000,000 |
487,203,225,738 |
256,441,124,240 |
|
Fixed Assets |
2,787,164,000,000 |
2,649,659,691,181 |
2,663,375,118,830 |
|
-Investment |
2,235,324,000,000 |
2,155,269,494,632 |
1,823,907,650,533 |
|
-Tangibles |
457,428,000,000 |
456,304,230,115 |
809,305,745,197 |
|
-Intangibles |
45,672,000,000 |
38,085,966,434 |
30,161,723,100 |
|
-Others |
48,740,000,000 |
- |
- |
|
Total Liabilities |
3,181,047,000,000 |
2,985,427,081,968 |
2,484,198,532,031 |
|
Current Liabilities |
2,217,645,000,000 |
1,941,681,535,552 |
1,479,741,097,625 |
|
Fixed Liabilities |
963,402,000,000 |
1,043,745,546,416 |
1,004,457,434,406 |
|
Capital Stock |
377,190,000,000 |
377,190,145,000 |
377,190,145,000 |
|
Capital Surplus |
245,501,000,000 |
245,501,252,684 |
245,584,259,641 |
|
Profit Surplus |
696,698,000,000 |
605,984,784,546 |
357,499,419,915 |
|
Capital Adjustment |
-16,184,000,000 |
(-)8,224,920,710 |
(-)16,470,824,247 |
|
Total Equity |
1,303,205,000,000 |
1,220,451,261,520 |
963,803,000,309 |
|
Liab. & Shareholder’s Equity |
4,484,252,000,000 |
4,205,878,343,488 |
3,448,001,532,340 |
|
Current
Liabilities |
2,217,645,000,000 |
1,941,681,535,552 |
1,479,741,097,625 |
|
Trade Payables |
402,348,000,000 |
243,389,387,178 |
179,615,418,001 |
|
Short-Term Borrowings |
1,191,824,000,000 |
1,176,502,889,871 |
690,879,332,303 |
|
Account Payables |
21,502,000,000 |
31,996,780,937 |
22,711,919,024 |
|
Accrued Expenses |
12,941,000,000 |
16,258,787,838 |
16,175,412,611 |
|
Advance Receipts |
148,424,000,000 |
77,294,026,499 |
288,849,609,942 |
|
Withholdings |
7,831,000,000 |
8,753,289,436 |
7,211,913,862 |
|
Accrued Income Tax Credit |
- |
- |
770,584,162 |
|
Current Portion of Long-Term
Debts |
20,422,000,000 |
19,831,018,000 |
18,847,955,716 |
|
Current Portion of Debentures |
405,394,000,000 |
353,776,622,668 |
245,871,637,953 |
|
Guarantee Deposit Withhold |
100,000,000 |
200,000,000 |
110,000,000 |
|
Unearned Income |
3,000,000 |
- |
- |
|
Derivatives |
7,023,000,000 |
13,678,733,125 |
8,697,314,051 |
|
Fixed
Liabilities |
963,402,000,000 |
1,043,745,546,416 |
1,004,457,434,406 |
|
Debentures |
488,858,000,000 |
579,852,475,433 |
593,984,275,765 |
|
Long-Term Borroiwngs |
69,384,000,000 |
88,124,026,000 |
117,504,630,148 |
|
Long-Term Guarantee Deposit
Withhold |
777,000,000 |
781,062,315 |
850,782,815 |
|
Long-Term Account Payables |
- |
- |
731,538,373 |
|
Provision for Severance &
Retirement |
117,326,000,000 |
99,811,024,107 |
96,915,912,423 |
|
Provision for Liabilities |
- |
-
|
36,720,000 |
|
Non-Current Portion of
Derivatives |
137,000,000 |
- |
- |
|
Deferred Income Tax Credit |
301,119,000,000 |
275,176,958,561 |
194,433,574,882 |
|
Income Statement |
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|
Unit : Korean Won |
01/01/2007~06/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
1,532,290,000,000 |
2,293,081,639,543 |
2,150,672,516,399 |
|
Cost of Sold Goods |
1,400,153,000,000 |
2,054,574,329,968 |
1,938,842,203,049 |
|
Gross Profit |
132,137,000,000 |
238,507,309,575 |
211,830,313,350 |
|
Selling & Admin. Expenses |
83,837,000,000 |
137,201,476,235 |
125,865,226,324 |
|
Operating Income |
48,300,000,000 |
101,305,833,340 |
85,965,087,026 |
|
Non-Operating Income |
180,512,000,000 |
444,594,835,751 |
296,255,087,590 |
|
Non-Operating expenses |
75,373,000,000 |
198,459,029,508 |
208,502,597,944 |
|
Ordinary Income |
153,439,000,000 |
347,441,639,583 |
173,717,576,672 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
153,439,000,000 |
347,441,639,583 |
173,717,576,672 |
|
Income Taxes Expenses |
31,400,000,000 |
74,587,000,102 |
59,560,454,271 |
|
Net Income |
122,039,000,000 |
272,854,639,481 |
114,157,122,401 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2007~06/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
(-)14,618,000,000
|
(-)252,315,124,918 |
115,044,139,677 |
|
-Net Income |
122,039,000,000 |
272,854,639,481 |
114,157,122,401 |
|
-Exp. without Cash Outflow |
41,764,000,000 |
88,120,814,530 |
129,943,020,504 |
|
-Revenue
without Cash Inflows |
(-)145,829,000,000
|
(-)369,187,376,804 |
(-)257,724,753,403 |
|
-Changes in
Asset/ & Liability |
(-)32,592,000,000
|
(-)244,103,202,125 |
128,668,750,175 |
|
Cash Flows
from Investing |
(-)37,131,000,000
|
210,872,538,691 |
(-)115,313,107,757 |
|
-Cash Inflow
from Investing |
20,351,000,000 |
473,902,678,240 |
140,946,501,505 |
|
-Cash
Outflows for Investing |
(-)57,482,000,000
|
(-)263,030,139,549 |
(-)256,259,609,262 |
|
Cash Flows
from Financing |
(-)74,603,000,000
|
543,403,647,886 |
32,531,111,253 |
|
-Cash
Inflows from Financing |
2,756,233,000,000 |
2,838,942,382,632 |
1,613,219,972,995 |
|
-Cash Outflows
from Financing |
(-)2,830,836,000,000
|
(-)2,295,538,734,746 |
(-)1,580,688,861,742 |
|
Increase/Decrease
in Cash |
(-)126,352,000,000
|
501,961,061,659 |
32,262,143,173 |
|
Cash at the
Beginning of Year |
650,421,000,000 |
148,460,235,691 |
116,198,092,518 |
|
Cash at the
End of Year |
524,069,000,000
|
650,421,297,350 |
148,460,235,691 |
Products, Technologies, Services
Description
|
Main
Products & Services |
EXPLOSIVES BUSINESS Explosives -Explosives -Accessories Nitric
Products -Nitric Acid -Ammonia Defense Products -Guided Weaponry -Rockets -Illumination Cartridges -Grenades -Fuzes -High Explosives -Propellants -Undersea Equipment Inflators -Driver's Seat -Passenger Seat -Sides Fireworks -Nighttime Fireworks -Daytime Fireworks -Ground Fireworks -Special Effects -Signals Aerospace Products -Fixed Wing -Rotary Wing -Space Brand Name: MegaMite,
Hanwha, NewMITE Plus MegaMite is a nitroglycol-based gelatin
dynamite with good water- and cold-resistance. The unparalleled detonation
power and velocity makes it an all-purpose explosives for both soft and super
hard rocks. In particular, it is suitable to blow up hard and super hard
rocks that are hardly affected by emulsion explosives. HiDETO Plus is an electric detonator with
RDX 650mg as its base charge, and is used to detonate a blast hole
electrically. There are basically two types of products: MS(Millisecond)
delay detonators with a stage-to-stage interval of 20ms and LP(Long Period)
delay detonators with a stage-to-stage interval of 100∼500ms. They
are generally effective both for open-area and underground blasting. Also,
their excellent millisecond precision is effective in minimizing the blasting
vibration and improving fragmentation. With the coloring of leg wires, shell
bodies, etc. they are extremely easy to discern. Driver's Seat In 2001, Hanwha completed the localization
of two kinds of inflators through technology cooperation with TRW. The two
are: FG inflator that uses Azide as the explosive facilitating the generation
of gas to inflate the airbag; and the ADI inflator that uses non-Azide, an
environment friendly product. Currently, these products are manufactured at
the Hanwha Boeun factory which is the only inflator manufacturer in Korea. Passenger Seat The representative products are PPI3 and
PHI-2. PPI3 uses non-Azide propellant as the main source of gas generation to
inflate airbags while PHI2 uses compressed inert gas. These products are
manufactured at TRW. In Korea, the installation of passenger-side airbags is
increasing rapidly in order to enhance vehicle safety. Sides It uses compressed inert gas to inflate
side airbags and is currently manufactured at TRW of Germany. The demand for
inflators for side airbags is expected to increase in Korea in order to
increase vehicle safety. Korean Fighter Program HANWHA was designated as a specialized
FCISA(Flight Control Integrated Servo Actuator) supplier for KFP program by
Korea MND and successfully delivered to KAI. We fully support our customer,
ROKAF, by repair and overhaul. TRADE BUSINESS Petroleum Petrochemicals Plastic Resin Chemicals -Inorganic -Organic Chemical -Chemical Export Transportation Equipment Metals Bearings Machinery Equipment -Pneumetic -General Purpose Valves -Bush -LM Defense Products -Ammunitions -Rockets -Fuzes -Propelling Charges -Hand Grenades and Mines -Bombs and Demolitions -Other Suppliable Defense Livestock -Beef -Pork Salt Plastic Products Papers Cut Flowers (*)The Sales Spread(Explosive) of the
Subject accounts for Explosive(35.4%), Defense Business(52.6%) and
others(12.0%). The Sales Spread(Trade) of the Subject
accounts for PetroChemical(47.0%), Metals(21.0%) and Others(31.0%). |
Trade
Partners
|
Suppliers |
HUCHEMS FINE CHEMICAL CORPORATION ADDRESS: 5 FL., KUKDONG BLDG., 60-1,
CHUNGMURO 3-GA, JUNG-GU, SEOUL 100-705 KOREA TEL: 82-2-2262-0600 FAX: 82-2-2265-9381 INDUSTRY: MANUFACTURE OF ALL OTHER CHEMICAL
PRODUCTS N.E.C. TAEYOUNG INDUSTRY CORPORATION ADDRESS: 1-1, YONGJAM-DONG, NAM-GU, ULSAN
680-070 KOREA TEL: 82-52-228-3300 FAX: 82-52-228-3388 INDUSTRY: WATER FREIGHT HANDLING HANWHA CHEMICAL CORPORATION HANWHA LIVING &CREATIVE CORPORATION HANWHA ENGINEERING & CONSTRUCTION
CORPORATION YEOCHUN NAPHTHA CRACKING CENTER CO., LTD. HANWHA S & C CO., LTD. TRW |
|
Customers |
DEFENSE PROCUREMENT AGENCY HANWHA CHEMICAL CORPORATION HANWHA LIVING &CREATIVE CORPORATION HANWHA ENGINEERING & CONSTRUCTION
CORPORATION YEOCHUN NAPHTHA CRACKING CENTER CO., LTD. HANWHA S & C CO., LTD. |
|
Competitors |
SK NETWORKS CO.,
LTD. ADDRESS: 4, PYEONG-DONG, GWONSEON-GU,
SUWON-SI, GYEONGII-DO 441-230 KOREA TEL: 82-2-2221-2016 FAX: 82-2-2221-0080 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS HYUNDAI
CORPORATION ADDRESS: HUNGKUK LIFE INSURANCE BD 226,
SINMUNNO 1-GA, JONGNO-GU, SEOUL 110-786 KOREA TEL: 82-2-390-1114 FAX: 82-2-390-1101 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS LG INTERNATIONAL
CORP. ADDRESS: 12 FL., LG TWIN TOWER EAST ANNEX,
20, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL 150-721 KOREA TEL: 82-2-3773-5114 FAX: 82-2-3773-5446 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS DAEWOO
INTERNATIONAL CORPORATION ADDRESS: DAEWOO CENTER BLDG., 541,
NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL 100-714 KOREA TEL: 82-2-759-2114 FAX: 82-2-753-9489 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS HYOSUNG
CORPORATION ADDRESS: HYOSUNG BLDG., 450, GONGDEOK
2-DONG, MAPO-GU, SEOUL 121-720 KOREA TEL: 82-2-707-7000 FAX: 82-2-707-0130 INDUSTRY: MAN-MADE FIBERS SPINNING SAMSUNG
CORPORATION ADDRESS: 310, TAEPYEONGNO 2-GA, JUNG-GU,
SEOUL 100-865 KOREA TEL: 82-2-2145-2114 FAX: 82-2-2145-3114 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS (*) THE SUBJECT’S MARKET SHARES ARE 75% IN
INDUSTRIAL EXPLOSIVES, AND 30% IN INFLATOR. |
Related Parties (Subsidiaries,
Joint-
Venture & Affiliates)
|
Affiliates |
HANWHA CORP (110111-0002959) HANWHA CHEMICAL CORPORATION
(110111-0360935) HANWHA TIMEWORLD CO., LTD. (160111-0003410) HANWHA SECURITIES CO.,LTD (110111-0003155) HANWHA NON-LIFE INSURANCE CO., LTD.
(110111-0006456) HANWHA LIVING & CREATIVE CORP
(110111-1725930) HANWHA POLYDREAMER CO.,LTD (161511-0001861) HANWHA STATION DEVELOPMENT CO., LTD.
(110111-0544133) HANWHA CHONGNYANGNI STATION DEVELOPMENT
CO., LTD. (110111-3008376) HANWHA INVESTMENT TRUST MANAGEMENT CO.,
LTD. (110111-0571201) HANWHA VC CORP. (110111-1912909) KLI INSURANCE INVESTIGATION CO., LTD.
(110111-3192913) KOREA TELE MARKETING & SERVICES CO.,
LTD (110111-3199349) RADISSON SEOUL PLAZA HOTEL (110111-0154776) HAN COMM. INC. (110111-0362957) ENVIRONMENT FACILITIES MANAGEMENT
CORPORATION (141411-0006564) DREAMPHARMA CORP. (110111-1181025) HANWHA S&C CO., LTD (110111-2204470) GUNPO ECOTECH CORPORATION (110111-2629941) HANWHA 63 CITY CORPORATION (110111-0425622) DAEDEOK TECHNO VALLEY CO., LTD
(160111-0115059) YANGJU ENVIRO CORPORATION (110111-2503244) HANWHA CITY DEVELOPMENT CO.,LTD
(160111-0182230) KUMDAN ECOTECH CORPORATION (110111-3205659) HANWHA GALLERIA CO., LTD.( 110111-0202989) HANWHA TOUR HANWHA RESORT CO.,LTD (110111-0249709) (50.0% HELD BY THE SUBJECT COMPANY) KOREA LIFE INSURANCE CO.,LTD
(110111-0003204) (26.3% HELD BY THE SUBJECT COMPANY) HANWHA EAGLES PROFESSIONAL BASEBALL CLUB
(160111-0007214) (40.0% HELD BY THE SUBJECT COMPANY) |
|
Overseas Affiliates |
KOREA LIFE INVESTMENT (AMERICA) LTD. HANWHA (SHANGHAI) CO., LTD. HANWHA CHEMICAL THAILAND. MAXFORMA INCORPORATED. UNION INDUSTRIAL DEVELOPMENT INC. BOR DEVELOPMENT LLC. MAXFORMA HOLDINGS INCORPORATED MAXFORMA PLASTICS LLC. HANWHA CHEMICAL (BEIJING) CO., LTD. HANWHA CHEMICAL (SHANGHAI) CO., LTD. UNIVERSAL BEARINGS INC. HANWHA AMERICA DEVELOPMENT INC. HANWHA LANCASTER LLC. HANWHA DEVELOPMENT SERVICES LLC. LANCASTER DEVELOPMENT GROUP LLC. HANWHA INTERNATIONAL(S) PTE LTD. MGM RT. ACROPARK GOLF CORP. HANWHA BANK HUNGARY LTD. HANWHA FIRST INVESTMENT CO.,BV HANWHA CHANDLER LLC. CHANDLER LLC. HANWHA SONORAN LLC. SONORAN VISTA LLC. HANWHA SAUDI CONTRACTING CO. LTD. |
|
Subsidiary |
HANWHA
E&C (110111-2558405) (100.0% HELD BY THE SUBJECT COMPANY) HANWHA TECHM CO.,LTD (194211-0056095)
(100.0% HELD BY THE SUBJECT COMPANY) HANWHA HONG KONG (100.0% HELD BY THE
SUBJECT COMPANY) HANWHA JAPAN CO., LTD. (100.0% HELD BY THE
SUBJECT COMPANY) HANWHA EUROPE GMBH (100.0% HELD BY THE
SUBJECT COMPANY) HANWHA MACHINERY AMERICA CORPORATION(100.0%
HELD BY THE SUBJECT COMPANY) HANWHA YANHU CHEMICAL CO. (60.0% HELD BY
THE SUBJECT COMPANY) HANWHA INTERNATIONAL(SHANGHAI) CO.( 100.0%
HELD BY THE SUBJECT COMPANY) |
|
Cooperative Enterprise |
CLAVERHAM-UK YICOM-YEMEN |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2006 |
2005 |
2004 |
|
Export-Manufacturing |
28,994 |
16,633 |
7,499 |
|
Export-Int’l Trade |
1,170,543 |
1,090,632 |
1,469,898 |
|
Domestic-Manufacturing |
582,205 |
637,775 |
483,047 |
|
Domestic-Int’l Trade |
482,962 |
405,632 |
418,154 |
|
Others |
28,378 |
0 |
0 |
|
Total |
2,293,082 |
2,150,672 |
2,378,598 |
The Subject deals with the companies in China(Export:37.0% / Import:50.0%),
Japan, Russia, Singapore, Vietnam and USA.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
Seoul High Court |
The Subject Company |
Samgong Engineering |
Calim for Refund on Unfair
Profit |
437 |
2nd Round Proceeding(1st
Round: The Subject Company won.) |
|
|
Cheonan District Court |
The Subject Company |
Misung Enterprise & Kim
Nam-Sun |
Claim for Promisary Note Amount |
162 |
1st Round Proceeding |
|
|
Cheonan District Court |
The Subject Company |
Misung Enterprise |
Claim for Payment |
50 |
1st Round Proceeding |
|
|
Seoul Central District Court |
Misung Enterprise & Kim
Nam-Sun |
The Subject Company |
|
32 |
1st Round Proceeding |
|
|
Cheonan District Court |
Kim Nam-Sun |
The Subject Company |
|
41 |
1st Round Proceeding |
|
|
- |
Sichuan Hongda (Group) Co.,
Ltd |
The Subject Company |
Claim for Damage |
USD
1,670,000 |
1st Round Proceeding |
|
|
- |
An individual |
The Subject Company |
Claim for KIA Motor's SPECTRA
related Case |
Unspecified |
Pending |
|
|
- |
HUCHEMSFINECHEMICALCORPORATION(110111-2611906) |
The Subject Company &
Hanwha E&C |
Claim for Damages |
4,158 |
1st Round Proceeding |
News
Clipping
Hanwha steps toward becoming a holding firm
JoongangIlbo & Joins.com:08/15/2007
The sale of minor holdings could be a prelude to major reorganization of
Hanwha Group as a holding company, analysts said yesterday. According to a
Hanwha filing yesterday with the Financial Supervisory Service, Kim Seung-youn,
the chairman of the group, sold his 5.01 percent stake, or 1.9 million shares,
in Hanwha Securities, the group’s brokerage arm, to Hanwha Chemical.
On July 25, Kim sold his 1.56 percent stake, or 1.6 million shares, in
Hanwha Chemical to Hanwha Corp.
From those transactions, Kim earned 75.9 billion won ($81.6 million).
“Chairman Kim Seung-youn seems to have sold his minor holdings, which is
a typical step to take before reorganizing the group under a holding company,”
said J.D.
Song, a senior analyst at Samsung Securities Co. With his 75.9 billion
won in proceeds, Kim could increase his stake in Hanwha Corp.
“It is a way for Kim to expand his stake in a potential holding
company,” Song said.Kim is serving an 18-month sentence for kidnapping and
beating up bar workers who had attacked his son.
He was released to a hospital yesterday, saying he has severe depression
and has had a nervous breakdown. Hanwha Corp., the trading firm and gunpowder
maker, is expected to become a holding company at an unannounced date.
The Korean government has encouraged corporations to take such action,
which makes the company’s operations more transparent. Kim’s equity ownership
in Hanwha is 22.8 percent.
Including the holdings of friendly shareholders, Kim controls 35 percent
of Hanwha.
Hanwha is a major shareholder of Hanwha Chemical, Hanwha Resort, the
Radisson Seoul Plaza Hotel and Hanwha Engineering & Construction. The group
is likely to set up a financial holding company before it forms a holding
company for non-financial businesses, analysts said. Hanwha has already
exercised two options to increase its stake in Korea Life Insurance, and its
equity ownership in that company is expected to rise to 67 percent at the end
of the year from the current 34 percent, including shares owned by other Hanwha
affiliates.
A legal dispute between the group and Korea Deposit Insurance Corp. over
the sale of the insurance company to the group is pending and it is not certain
how it will affect the group’s reorganization as a holding company. When
Hanwha’s stake in Korea Life climbs above 50 percent, it has to become a
financial holding company for Korea Life, which is a major shareholder of
Hanwha Insurance and Hanwha Securities.
“Hanwha has holdings in both nonfinancial and financial businesses, and
it is in a dilemma of over whether to become a financial holding company or a
nonfinancial holding company,” Song said.
By Limb Jae-un Staff Writer [jbiz91@joongang.co.kr]
- Copyrights : JoongangIlbo & Joins.com,
All rights reserved. -
Korea expands hunt for expensive uranium
JoongangIlbo & Joins.com:05/07/2007
The Korean government and a growing number of Korean firms are
scrambling to find new sources of uranium, a major raw material for nuclear
power generation.
They are exploring new uranium mines in Canada, Vietnam and other
countries as global uranium price hikes make the mineral expensive.
Korea’s Commerce Ministry said yesterday that Hanwha Corp., a Korean
chemical firm, last Friday signed an agreement with CanAlaska Uranium Ltd., a
Canadian firm, to explore uranium in Athabasca in the northern part of
Saskatchewan.
The Athabasca region produces 28 percent of global uranium and all of
Canada’s uranium, the ministry said.
The announcement comes four months after Korea Resources Corp. and Korea
Hydro Nuclear Power Co., along with other private energy firms, including
Hanwha Corp., Daewoo International Corp.
and SK Corp., formed a task force in January to explore overseas uranium
mines.Global uranium prices were $15 per pound in 2004 but climbed 750 percent
to $113 per pound in April 2007.
Senior officials from the task force visited Vietnam on March 2 to meet
Vietnamese government officials and discuss joint exploration of uranium mines
in Pa Lua-Pa Rong region.Korea Resources Corp. is conducting feasibility
research on a new uranium mine in Vietnam.
Daewoo International, which holds a 1 percent stake in a uranium mine in
Baker Lake, Canada, is expected to resume exploration.
“We will send more officials to Ukraine, Mongolia, Australia and Africa,
which have high potential for uranium exploration,” said the ministry.
By Jung Ha-won Staff Writer [hawon@joongang.co.kr]
- Copyrights : JoongangIlbo & Joins.com, All rights reserved. –
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. |
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%)