MIRA
INFORM REPORT
|
Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNILEVER
KOREA LTD. |
|
|
|
|
Registered Office : |
40-66, Daehwa-dong, Daedeok-gu, Daejeon,
306-802 |
|
|
|
|
Country : |
Korea |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
02.29.1992 |
|
|
|
|
Com. Reg. No.: |
306-81-22430 |
|
|
|
|
Legal Form : |
Company Limited by Shares Foreign Direct Investment Corporation |
|
|
|
|
Line of Business : |
Manufacture of Perfumes and Cosmetics |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Basic
|
Company
Name |
UNILEVER KOREA LTD. |
|
Registered Address |
40-66, Daehwa-dong, Daedeok-gu, Daejeon,
Korea |
|
Zip Code |
306-802 |
|
Tel |
+82-42-630-6700 |
|
Fax |
+82-42-635-3068 |
|
E-mail |
|
|
Website |
|
|
Trading Address- Seoul Branch |
4th Fl., Woman Missionary Work Bldg.,
36-1, Hannam 1-dong, Yongsan-gu, Seoul, Korea |
|
Tel |
+82-2-709-1900 |
|
Fax |
+82-2-790-9169 |
|
Other Address- Gyeongwon Branch |
556-1, Pajang-Dong, Jangan-Gu, Suwon-Si,
Gyeonggi-Do 440-853 Korea |
|
Tel |
+82-31-258-5811 |
|
Fax |
+82-31-258-5814 |
|
Other Address- Honam Branch |
2Fl. Gimax Bldg. 880-1, Ilgok-Dong, Buk-Gu, Gwangju 500-866 Korea |
|
Tel |
+82-62-574-5681 |
|
Other Address- Gyeongbuk Branch |
221-6, Beomeo-Dong, Suseong-Gu, Daegu 706-010 Korea |
|
Tel |
+82-53-745-0463 |
|
Fax |
+82-53-743-7384 |
|
Other Address- Cheongcheong Branch |
21-3, Yongjeon-Dong, Dong-Gu, Daejeon 300-824 Korea |
|
Tel |
+82-42-628-2604 |
|
Fax |
+82-42-621-0730 |
|
Other Address- Gyeongnam Branch |
3Fl. Pigeon Bldg. 445-21, Guseo-Dong, Geumjeong-Gu, Busan 609-310
Korea |
|
Tel |
+82-51-514-1923 |
|
Fax |
+82-51-513-6327 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Perfumes and Cosmetics |
|
Main Business |
Skin Care Products, Shampoos, Soaps, Tea |
|
Established (mm/dd/yyyy) |
02/29/1992 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Tea drinks(50201712) |
|
Sell |
Bath gels(53131612) |
|
Sell |
Skin care products(53131613) |
|
Sell |
Soaps(53131608) |
|
Sell |
Hand or body lotions(53131607) |
|
Sell |
Hair care supplies(53131602) |
|
Sell |
Shampoos(53131628) |
|
Sell |
Hand cleaner(53131627) |
CEO’s
|
Name |
Tim Oakes |
|
Address |
311-1, Seongbuk-dong, Seongbuk-gu, Seoul, Korea |
|
Date of Birth |
01/03/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
UK |
Profiles
|
Capital |
53,955,000,000 KRW |
|
Employees |
266 |
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|
Bank Details |
Citi Bank, Korea Korea Exchange Bank |
|
Corporate Registered No. |
110111-0839039 |
|
Business Registered No. |
306-81-22430 |
|
Permit & Licenses |
Int’l Trade No.:53000291 |
|
Shareholder Position |
MAVIBLE B.V (Netherlands) / 100% shares |
|
Company History |
02/29/1992
Incorporated as the present name 12/01/2001
Increased capital to 53,955,000,000 KRW from 88,955,000,000 KRW |
|
|
|
Detailed Information
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Tim Oakes |
Male |
UK |
08/08/2005 |
|
Director |
Mr. |
Lee Min-Sun |
Male |
Korean |
02/17/2004 |
|
Director |
Mr. |
Kim Jae-Kyung |
Female |
Korean |
02/17/2004 |
|
Director |
Mr. |
Daniel Jones |
Male |
UK |
03/13/2007 |
|
Auditor |
Mr. |
Kuroyana Kihumio |
Male |
Japanese |
03/31/2005 |
Financials Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
133,318,071,721 |
53,296,745,174 |
(-)4,778,497,629 |
|
|
2005 |
135,167,257,851 |
51,700,971,921 |
3,009,356,688 |
|
2004 |
127,955,933,052 |
47,075,807,924 |
(-)14,096,872,495 |
|
2003 |
147,411,884,916 |
63,898,348,476 |
(-)6,915,911,639 |
|
2002 |
154,387,401,561 |
72,333,570,665 |
5,716,850,354 |
Financial
Description Unit: KRW
|
Authorized
Capital |
120,000,000,000 |
|
Paid-Up
Capital |
53,955,000,000 |
|
Total Issues Shares |
5,395,500(Common:1,895,500 Preferable:3,500,000) |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Total Assets |
53,296,745,174 |
51,700,971,921 |
47,075,807,924 |
|
Current Assets |
41,553,096,654 |
38,956,481,462 |
33,083,707,279 |
|
-Quick Assets |
22,681,829,954 |
21,865,197,513 |
19,266,796,796 |
|
-Inventories |
18,871,266,700 |
17,091,283,949 |
13,816,910,483 |
|
Fixed Assets |
11,743,648,520 |
12,744,490,459 |
13,992,100,645 |
|
-Investment |
1,031,898,450 |
1,125,164,700 |
1,164,882,680 |
|
-Tangibles |
10,711,750,070 |
11,619,325,759 |
12,827,217,965 |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
64,038,057,356 |
57,663,786,474 |
56,047,979,165 |
|
Current Liabilities |
58,989,581,769 |
53,470,305,898 |
51,962,255,072 |
|
Fixed Liabilities |
5,048,475,587 |
4,193,480,576 |
4,085,724,093 |
|
Capital Stock |
53,955,000,000 |
53,955,000,000 |
53,955,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
(-)64,696,312,182 |
(-)59,917,814,553 |
(-)62,927,171,241 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
(-)10,741,312,182 |
(-)5,962,814,553 |
(-)8,972,171,241 |
|
Liab. & Shareholder’s Equity |
53,296,745,174 |
51,700,971,921 |
47,075,807,924 |
|
Current
Liabilities |
58,989,581,769 |
53,470,305,898 |
51,962,255,072 |
|
Trade Payables |
16,516,241,362 |
18,570,944,294 |
15,245,892,956 |
|
Short-Term Borrowings |
32,275,541,793 |
25,516,897,534 |
30,754,108,858 |
|
Account Payables |
6,271,056,742 |
6,744,688,190 |
5,446,726,554 |
|
Accrued Expenses |
2,847,905,206 |
2,092,686,290 |
318,284,706 |
|
Withholdings |
260,765,753 |
209,199,270 |
194,510,921 |
|
Advance Receipts |
63,526,913 |
78,448,014 |
- |
|
Derivatives |
754,544,000 |
257,442,306 |
- |
|
Other Current Liabilities |
- |
- |
2,731,077 |
|
Fixed
Liabilities |
5,048,475,587 |
4,193,480,576 |
4,085,724,093 |
|
Provision for Severance & Retirement |
5,048,475,587 |
4,193,480,576 |
4,085,724,093 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Sales |
133,318,071,721 |
135,167,257,851 |
127,955,933,052 |
|
Cost of Sold Goods |
59,186,409,711 |
58,971,525,932 |
55,999,113,328 |
|
Gross Profit |
74,131,662,010 |
76,195,731,919 |
71,956,819,724 |
|
Selling & Admin. Expenses |
76,661,513,417 |
71,502,842,126 |
77,438,875,910 |
|
Operating Income |
(-)2,529,851,407 |
4,692,889,793 |
(-)5,482,056,186 |
|
Non-Operating Income |
1,330,823,243 |
950,865,071 |
244,627,960 |
|
Non-Operating expenses |
3,579,469,465 |
2,634,398,176 |
3,944,724,650 |
|
Ordinary Income |
(-)4,778,497,629 |
3,009,356,688 |
(-)9,182,152,876 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
(-)4,778,497,629 |
3,009,356,688 |
(-)9,182,152,876 |
|
Income Taxes Expenses |
- |
- |
4,914,719,619 |
|
Net Income |
(-)4,778,497,629 |
3,009,356,688 |
(-)14,096,872,495 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Cash Flows from Operating |
(-)6,126,583,220 |
8,133,289,720 |
(-)2,966,900,712 |
|
-Net Income |
(-)4,778,497,629 |
3,009,356,688 |
(-)14,096,872,495 |
|
-Exp. without Cash Outflow |
4,361,543,901 |
4,704,565,991 |
7,568,990,768 |
|
-Revenue
without Cash Inflows |
(-)1,129,378,745 |
(-)569,680,387 |
(-)47,297,852 |
|
-Changes in
Asset/ & Liability |
(-)4,580,250,747 |
989,047,428 |
3,608,278,867 |
|
Cash Flows
from Investing |
(-)342,957,691 |
(-)724,258,565 |
(-)99,783,597 |
|
-Cash Inflow
from Investing |
1,630,963,127 |
99,527,074 |
1,450,645,125 |
|
-Cash
Outflows for Investing |
(-)1,973,920,818 |
(-)823,785,639 |
(-)1,550,428,722 |
|
Cash Flows
from Financing |
7,571,823,121 |
(-)4,754,108,863 |
436,775,378 |
|
-Cash
Inflows from Financing |
33,088,720,655 |
25,999,999,995 |
15,436,775,378 |
|
-Cash
Outflows from Financing |
(-)25,516,897,534 |
(-)30,754,108,858 |
(-)15,000,000,000 |
|
Increase/Decrease
in Cash |
1,102,282,210 |
2,654,922,292 |
(-)2,629,908,931 |
|
Cash at the
Beginning of Year |
3,542,238,651 |
887,316,359 |
3,517,225,290 |
|
Cash at the End of Year |
4,644,520,861 |
3,542,238,651 |
887,316,359 |
Products, Technologies, Services
Description
|
Main Products
& Services |
Skin Care Products Tea Drinks Bath Gels Skin Care Products Soaps Hand Or Body Lotions Hair Care Supplies Shampoos Hand Cleaner |
Trade
Partners
|
Suppliers |
UNILEVER N.V UNILEVER BESTFOODS BERTOLLI INTERNATIONAL LEVER GMBH ELIDA P/S J.V COMPANY |
|
Customers |
UNILEVER SINGAPORE PTD UNILEVER HONGKONG UNILEVER MALAYSIA UNILEVER CHINA |
|
Competitors |
PROCTER & GAMBLE KOREA S & D CO.,
LTD. ADDRESS: 3 FL., P&G BLDG., 448-2, DOGOK
2-DONG, GANGNAM-GU, SEOUL 135-272 KOREA TEL: 82-2-2006-8000 FAX: 82-2-2006-8450 LG HOUSEHOLD ＆ HEALTH CARE
LTD. ADDRESS: LG TWIN TOWER, 20, YEOUIDO-DONG,
YEONGDEUNGPO-GU, SEOUL 150-721 KOREA TEL: 82-2-3773-1114 FAX: 82-2-3773-7032 INDUSTRY: MANUFACTURE OF TOOTHPASTE, SOAP
AND SYNTHETIC DETERGENTS |
|
Domestic Distributors |
DOMESTIC COSMETICS RETAIL SELLERS SHINSEGAE CO., LTD. ADDRESS: SHINSEGAE, 52-1, CHUNGMURO 1-GA,
JUNG-GU, SEOUL 100-011 KOREA TEL: 82-2-727-1234 FAX: 82-2-727-1889 INDUSTRY: DEPARTMENT STORES LOTTE SHOPPING CO., LTD. ADDRESS: LOTTE SHOPPING CENTER BLDG., 1,
SOGONG-DONG, JUNG-GU, SEOUL 100-721 KOREA TEL: 82-2-752-2500 FAX: 82-2-752-6471 INDUSTRY: DEPARTMENT STORES HYUNDAI DEPARTMENT STORE CO., LTD. ADDRESS: 456, APGUJEONG 1-DONG, GANGNAM-GU,
SEOUL 135-510 KOREA TEL: 82-2-549-2233 FAX: 82-2-3416-5240 INDUSTRY: DEPARTMENT STORES HANWHA STORES CO., LTD. ADDRESS: 11 FL., HANVIT PLAZA, 7-17,
SINCHEON-DONG, SONGPA-GU, SEOUL 138-728 KOREA TEL: 82-2-410-7114 FAX: 82-2-410-7026 INDUSTRY: DEPARTMENT STORES NEW CORE CO., LTD. ADDRESS: 70-2, JAMWON-DONG, SEOCHO-GU,
SEOUL 137-908 KOREA TEL: 82-2-509-5000 FAX: 82-2-509-6123~4 INDUSTRY: DEPARTMENT STORES SAMSUNG TESCO CO., LTD. ADDRESS: 17 FL., SAMJEONG DEVELOPMENT
BLDG., 701-2, YEOKSAM-DONG, GANGNAM-GU, SEOUL 135-080 KOREA TEL: 82-2-3459-8001 FAX: 82-2-3459-8003 INDUSTRY: RETAIL SALE IN OTHER
NON-SPECIALIZED LARGE STORES GS RETAIL CO., LTD. ADDRESS: GS GANGSEO TOWER 10, MULLAEDONG
6-GA, YEONGDEUNGPO-GU, SEOUL 150-096 KOREA TEL: 82-2-2005-1114 FAX: 82-2-2006-2039 INDUSTRY: RETAIL SALE IN OTHER
NON-SPECIALIZED LARGE STORES MEGA MART CO., LTD. ADDRESS: 984-33, SIHEUNG 3-DONG,
GEUMCHEON-GU, SEOUL 153-863 KOREA TEL: 82-2-820-8500 FAX: 82-2-820-8683 INDUSTRY: RETAIL SALE IN OTHER
NON-SPECIALIZED LARGE STORES 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 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
UNILEVER N.V UNILEVER JAPAN K.K UNILEVER SINGAPORE PTD UNILEVER HONGKONG INDIGO LEVER SHARED SVC UNILEVER MALAYSIA UNILEVER INDONESIA LTD EAST ASIA PACIFIC PTE LTD(SINGAPORE) UNILEVER UK CENTRAL RESOURCE UNILEVER AUSTRALIA(UNIFOODS) UNILEVER TAIWAN LTD UNILEVER BESTFOODS BERTOLLI INTERNATIONAL UNILEVER THAI HOLDINGS LEVER GMBH HINDUSTAN LEVER LTD UNILEVER PHILIPPINES UNILEVER CHINA UNILEVER BESTFOOD SHANDONG LIPTON SOFT DRINKS LRELAND ELIDA P/S J.V COMPANY UNILEVER ASIA AMET LEARNING PREMIUM RXPORTS CEYLON LTD |
|
Cooperative Enterprise |
UNILEVER N.V |
Sales by
Region (Activity &
Markets)
The Subject deals with the companies in Netherlands, UK, Germany, Ireland,
Spain, USA, Japan, Taiwan, Indonesia, Thailand, Philippines, China, Vietnam,
Hong Kong, Malaysia, Singapore, India, New Zealand and Australia.
Court
Action
No.
News Clipping
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%)