MIRA
INFORM REPORT
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Report Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
HANWHA CORPORATION |
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Registered Office : |
24th Fl., Hanwha Bldg., 1, Janggyo-dong, Jung-gu, |
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Country : |
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Financials (as on) : |
30.09.2008 |
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Date of Incorporation : |
28.10.1952 |
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Com. Reg. No.: |
202-81-16825 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Explosives and Pyrotechnic Products |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Basic
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Company
Name |
HANWHA CORPORATION |
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Registered Address |
1, Janggyo-dong, Jung-gu, |
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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 |
www.hanwhacorp.co.kr |
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Trading Address |
24th Fl., Hanwha Bldg., 1, Janggyo-dong,
Jung-gu, |
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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 |
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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 |
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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 |
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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
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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 |
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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 |
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Tel |
+82-41-580-3800 |
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Other Address- Boeun Factory |
111,
Eomdun-ri, Naebuk-myeon, Boeun-gun, Chungbuk-do 376-812 |
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Tel |
+82-43-540-0114 |
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Other Address- Onsan Factory |
753, Wonsan-ri, Onsan-eup, Ulju-gun, |
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Tel |
+82-52-237-6512 |
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Other
Address- Yeongnam Business Dept. |
127-8, Gamjeon-dong, Sasang-gu, Busan
617-250 Korea |
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Tel |
+82-51-312-9955 |
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Other
Address- Donghae Factory |
San 24, Mangsang-dong, Donghae-si,
Gangwon-do 240-080 |
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Tel |
+82-33-532-2747 |
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Other
Address- Taeback Branch |
253-119, Hwangji-dong, Taeback-si,
Gangwon-do 235-010 |
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Tel |
+82-33-552-2410 |
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Fax |
+82-33-552-3664 |
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Other
Address- Gwangju Branch |
1352, Songjeon 2-dong, Gwangsan-gu,
Gwangju 506-807 |
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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 |
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Tel |
+82-51-469-6066 |
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Other
Address- Cheonan Factory |
89, Namgwan-ri, Pungse-myeon, Cheonan-si,
Chungnam-do 330-911 |
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Tel |
+82-41-578-7224 |
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Other
Address- Jecheon Branch |
169-1, Sigok-ri, Songhak-myeon, Jechon-si,
Chungbuk-do 390-813 |
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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 |
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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 |
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Tel |
+82-2-353-1770 |
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Other
Address- Jeomchon Branch |
524-1, Gongpyeong-dong, Mungyeong-si,
Gyeongbuk-do 745-150 |
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Tel |
+82-54-552-2318 |
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Type |
Export/Import |
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Industry |
Manufacture of Explosives and Pyrotechnic Products |
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Main Business |
Industrial Explosive, Network Equipment, CDMA |
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Established (mm/dd/yyyy) |
10/28/1952 |
The Subject
owns the premises of registered HQ address, Yeosu factory, Donghae Factory, Changwon Factory, Boeun Factory and Cheonan Factory.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Explosive initiators(12131704) |
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Sell |
Polyvinyl Chloride PVC(13102030) |
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Sell |
Dynamite(12131501) |
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Sell |
Fireworks(12131601) |
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Sell |
Igniters(12131700) |
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Sell |
Gold(11101801) |
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Sell |
Bombs and grenades(46111500) |
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Sell |
Stainless steel plate(30102205) |
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Sell |
Bearings(31171500) |
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Sell |
Newsprint and offset papers(14121900) |
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Sell |
Coated papers(14121800) |
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Sell |
Art or craft paper(14111606) |
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Sell |
Pyrotechnics(12131600) |
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Sell |
Blasting caps(12131701) |
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Sell |
Metal and mineral industries(73120000) |
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Sell |
Organic derivatives and substituted
compounds(12352100) |
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Sell |
Ammonia(12142103) |
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Sell |
International trade services(80151600) |
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Sell |
Printing and writing paper(14111500) |
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Sell |
Inorganic compounds(12352300) |
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Sell |
Meat and poultry(50111500) |
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Sell |
Airbags(25172101) |
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Sell |
Demolition services(72103003) |
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Sell |
Civil engineering(81101500) |
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Sell |
Lip balm(53131630) |
CEO’s
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Name |
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Date of Birth |
04/02/1953 |
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Title |
Co-President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital |
377,190,145,000 KRW |
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Employees |
3,060 |
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Formation |
Listed Company ( 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 Int’l Trade No.: 672438 |
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Shareholder Position |
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Company
History |
02/2008 Invested to Nantoy Bara Lestari Project-Indonesia by
purchasing 45% shares of Nantoy Resources 01/23/2008 Acquired Sentec Co., Ltd. 07/2007 Participated in 05/2005 Signed business agreement to develop the land for the Incheon
factory 11/2003 Sold Information & Communications Division’s Switchboard
Unit 06/2003 Sold Information &
Communications Division’s Mobile Communications Unit 04/2003 Formally announced ethical management initiative 07/2002 Spun-off Construction Division (Hanwha Engineering &
Construction Co.) and Machinery Division (Hanwha Machinery Co.) 03/2002 Sold Information & Communications Division’s Transmission
Operations Unit and underwent further streamlining 12/2001 Acquired Defense Product Unit from Daewoo Electronics
(currently the Gumi factory) 03/2001 Spun-off Information Division (Hanwha S&C) 09/2000 Machinery Division acquired aircraft components factory
(Cheonan Factory) 12/1999 Spun-off Pharmaceutical Division (H-Pharm Co.) 12/1999 Spun-off Power Generation Division (Hanwha Energy Co.) 09/1999 Acquired Power Generation Unit from Korea Energy (formerly
Hanwha Energy) 12/1998 Incorporated with Hanwha Machine Co. (Machinery Division) 11/1998 Awarded the Silver Tower Industrial Medal and the $1 Billion
Export Tower award 10/1996 Incorporated with Hanwha Electronic Information &
Communication Co. (Information & Communications Division) 02/1996 Incorporated with Duksan Construction Co. (Construction
Division) 12/1995 Assumed operations of Central Pharmacy 09/1995 Received ISO 9002 certification 01/1995 Incorporated with Golden 03/1993 Officially became Hanwha Corporation 05/1992 Completed construction of Nitrate Manufacturing Plant in
Incheon 10/1991 Completed construction of Boeun factory 11/1990 Received 01/1989 Sold Kimpo Ceramics’ Factory 01/1988 Incorporated with Sanda Co. (currently the Explosives
Division’s Changwon factory) 07/1987 Acquired Daejeon factory 04/1984 Acquired Kimpo Ceramics’ factory 11/1982 Awarded the Gold Tower Industrial Medal and the $100 Million
Export Tower award 12/1979 Established Central Research Institute 08/1978 Completed construction of Yeosu Factory 06/1976 Company’s IPO (Capital stock: KRW 3.274 million) 05/1974 Officially designated as a Defense Contractor 10/1955 Acquired Chosun Oil & Fat Company’s Incheon factory 10/1952 Established as Korea Explosive Co. |
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The Subject Company
is a Korean company primarily engaged in the production of explosives and
trading business. The Company’s explosive segment manufactures explosives,
nitric acid, fireworks and various explosive compounds for the defense and
construction industries. In addition, the Company produces inflators used in
automotive airbags, as well as aerospace product. Its trading business focuses
on the trading of industrial materials such as petroleum products,
petrochemicals, steel, non-ferrous metals and defense products.
Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Inauguration Day |
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Chairman & CEO |
Mr. |
Kim Seung-Yon |
Korean |
1952.02.07 |
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Co-President & CEO/Explosive Div. |
Mr. |
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Korean |
1953.04.02 |
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Co-President & CEO/Trade Div. |
Mr. |
Yang Tae-Jin |
Korean |
1949.05.14 |
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Executive Director |
Mr. |
Han Kwon-Tae |
Korean |
1955.03.22 |
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Outside Director |
Mr. |
Jung Jin-Tae |
Korean |
1934.08.05 |
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Outside Director |
Mr. |
Oh Jae-Deok |
Korean |
1933.03.30 |
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Outside Director |
Mr. |
Kim Soo-Ki |
Korean |
1943.02.04 |
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Outside Director |
Mr. |
Choi Dong-Jin |
Korean |
1946.05.13 |
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Outside Director |
Mr. |
Jung Jin-Ho |
Korean |
1954.10.30 |
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Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
3,466,903,819,977 |
4,179,054,399,863 |
217,124,538,810 |
|
|
2006 |
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 |
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Paid-Up Capital |
377,190,145,000 |
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Total Issues Shares |
75,438,029 |
Balance
Sheet
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Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
5,696,857,000,000 |
4,179,054,399,863 |
4,205,878,343,488 |
|
Current Assets |
2,281,988,000,000 |
1,256,895,809,033 |
1,556,218,652,307 |
|
-Quick Assets |
1,547,024,000,000 |
702,191,817,486 |
1,069,015,426,569 |
|
-Inventories |
734,964,000,000 |
554,703,991,547 |
487,203,225,738 |
|
Fixed Assets |
3,414,869,000,000 |
2,922,158,590,830 |
2,649,659,691,181 |
|
-Investment |
2,788,073,000,000 |
2,359,087,528,116 |
2,106,881,370,113 |
|
-Tangibles |
489,130,000,000 |
458,911,991,274 |
456,304,230,115 |
|
-Intangibles |
61,637,000,000 |
51,929,843,770 |
38,085,966,434 |
|
-Others |
76,029,000,000 |
52,229,227,670 |
48,388,124,519 |
|
Total Liabilities |
4,272,268,000,000 |
2,880,707,038,314 |
2,985,427,081,968 |
|
Current Liabilities |
3,180,171,000,000 |
1,923,892,745,039 |
1,941,681,535,552 |
|
Fixed Liabilities |
1,092,097,000,000 |
956,814,293,275 |
1,043,745,546,416 |
|
Capital Stock |
377,190,000,000 |
377,190,145,000 |
377,190,145,000 |
|
Capital Surplus |
388,409,000,000 |
258,213,934,009 |
245,501,252,684 |
|
Profit Surplus |
1,041,045,000,000 |
791,784,245,606 |
605,984,784,546 |
|
Capital Adjustment |
(-)382,055,000,000 |
(-)128,840,963,066 |
(-)8,224,920,710 |
|
Total Equity |
1,424,589,000,000 |
1,298,347,361,549 |
1,220,451,261,520 |
|
Liab. & Shareholder’s Equity |
5,696,857,000,000 |
4,179,054,399,863 |
4,205,878,343,488 |
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Current
Liabilities |
3,180,171,000,000 |
1,923,892,745,039 |
1,941,681,535,552 |
|
Short-Term Borrowings |
2,154,064,000,000 |
795,848,947,539 |
1,176,502,889,871 |
|
Trade payables |
464,360,000,000 |
408,704,884,054 |
243,389,387,178 |
|
Account Payables |
22,377,000,000 |
38,934,757,970 |
31,996,780,937 |
|
Advance Receipts |
197,113,000,000 |
268,644,364,541 |
77,294,026,499 |
|
Withholdings |
9,765,000,000 |
9,194,123,999 |
8,753,289,436 |
|
Accrued Expenses |
19,033,000,000 |
15,946,754,852 |
16,258,787,838 |
|
Accrued Income Tax |
49,037,000,000 |
35,920,979,804 |
- |
|
Current Portion of Debentures |
216,631,000,000 |
329,146,000,000 |
354,210,000,000 |
|
Current Portion of Long-Term Debts |
21,716,000,000 |
20,763,117,000 |
19,831,018,000 |
|
Guarantee Deposit Withhold |
20,000,000 |
50,000,000 |
200,000,000 |
|
Derivatives |
5,883,000,000 |
923,384,483 |
13,678,733,125 |
|
Current Portion of Deferred Income Tax
Credit |
20,325,000,000 |
- |
- |
|
Fixed
Liabilities |
1,092,097,000,000 |
956,814,293,275 |
1,043,745,546,416 |
|
Debentures |
692,647,000,000 |
527,806,000,000 |
581,638,000,000 |
|
Long-Term Account Payables |
46,915,000,000 |
5,402,788,750 |
- |
|
Long-Term Borrowings |
703,000,000 |
58,213,498,000 |
88,124,026,000 |
|
Long-Term Guarantee Deposit Withhold |
5,611,000,000 |
792,493,355 |
781,062,315 |
|
Provision for Retirement & Severance |
126,552,000,000 |
124,937,466,957 |
113,411,960,242 |
|
Non-Current Portion of Derivatives |
- |
357,391,213 |
- |
|
Deferred Income Tax Credit |
236,032,000,000 |
256,691,504,461 |
275,176,958,561 |
Income
Statement
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
3,773,994,000,000 |
3,466,903,819,977 |
2,293,081,639,543 |
|
Cost of Sold Goods |
3,463,855,000,000 |
3,171,785,599,422 |
2,054,574,329,968 |
|
Gross Profit |
310,139,000,000 |
295,118,220,555 |
238,507,309,575 |
|
Selling & Admin. Expenses |
139,238,000,000 |
164,334,939,866 |
137,201,476,235 |
|
Operating Income |
170,901,000,000 |
130,783,280,689 |
101,305,833,340 |
|
Non-Operating Income |
572,762,000,000 |
333,510,618,542 |
444,594,835,751 |
|
Non-Operating expenses |
424,994,000,000 |
184,554,256,971 |
198,459,029,508 |
|
Ordinary Income |
318,669,000,000 |
279,739,642,260 |
347,441,639,583 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
318,669,000,000 |
279,739,642,260 |
347,441,639,583 |
|
Income Taxes Expenses |
21,830,000,000 |
62,615,103,450 |
74,587,000,102 |
|
Net Income |
296,839,000,000 |
217,124,538,810 |
272,854,639,481 |
Cash
Flows
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows from Operating |
(-)44,636,000,000 |
215,034,254,054 |
-252,315,124,918 |
|
-Net Income |
296,839,000,000 |
217,124,538,810 |
272,854,639,481 |
|
-Exp.
without Cash Outflow |
225,703,000,000 |
87,184,523,114 |
88,120,814,530 |
|
-Revenue
without Cash Inflows |
(-)357,687,000,000 |
(-)266,930,642,970 |
(-)369,187,376,804 |
|
-Changes in
Asset/ & Liability |
(-)309,491,000,000 |
177,655,835,100 |
(-)244,103,202,125 |
|
Cash Flows
from Investing |
(-)354,873,000,000 |
(-)239,011,110,220 |
210,872,538,691 |
|
-Cash Inflow
from Investing |
32,840,000,000 |
257,251,775,820 |
473,902,678,240 |
|
-Cash Outflows
for Investing |
(-)387,713,000,000 |
(-)496,262,886,040 |
(-)263,030,139,549 |
|
Cash Flows
from Financing |
1,219,955,000,000 |
(-)520,624,801,125 |
543,403,647,886 |
|
-Cash
Inflows from Financing |
6,618,006,000,000 |
7,064,857,436,640 |
2,838,942,382,632 |
|
-Cash
Outflows from Financing |
(-)5,398,051,000,000 |
(-)7,585,482,237,765 |
(-)2,295,538,734,746 |
|
Increase/Decrease
in Cash |
720,446,000,000 |
(-)544,601,657,291 |
501,961,061,659 |
|
Cash at the
Beginning of Year |
105,820,000,000 |
650,421,297,350 |
148,460,235,691 |
|
Cash at the End of Year |
826,266,000,000 |
105,819,640,059 |
650,421,297,350 |
Products, Technologies, Services
Description
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
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
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
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(33.49%), Defense Business(46.44%) and others. 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, 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, 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 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, TEL: 82-2-390-1114 FAX: 82-2-390-1101 INDUSTRY: WHOLESALE OF NON-SPECIALIZED
GOODS LG INTERNATIONAL
CORP. ADDRESS: 12 FL., LG 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, 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, TEL: 82-2-707-7000 FAX: 82-2-707-0130 INDUSTRY: MAN-MADE FIBERS SPINNING SAMSUNG CORPORATION ADDRESS: 310, TAEPYEONGNO 2-GA, JUNG-GU, 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 TIMEWORLD CO., LTD. (160111-0003410) 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) KLI INSURANCE INVESTIGATION CO., LTD.
(110111-3192913) KOREA TELE MARKETING & SERVICES CO.,
LTD (110111-3199349) HAN COMM. INC. (110111-0362957) ENVIRONMENT FACILITIES MANAGEMENT
CORPORATION (141411-0006564) DREAM PHARMA 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 TOUR DANGJIN TECHNO POLIS CO.,
Ltd(165011-0022657) AZDEL INC. HANWHA INDEPENDENT ENERGY
CORPORATION(110111-3780932) HANWHA L&C CORPORATION(110111-1725930) SEOUL PLAZA HOTEL (110111-0154776) HANWHA GALLERIA CO., LTD.( 110111-0202989) YEOSU COGENERATION
CORPORATION(110111-3807223) H COMPOUND CORPORATION(206211-0035747) HANWHA NANOTECH CORPORATION(211111-0011643) HANWHA SECURITIES CO.,LTD (110111-0003155) HANWHA VC CORP. (110111-1912909) 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) DANGJIN TECHNO POLIS Co,.
Ltd(165011-0022657) (12/03/2007 Joined as an Affiliated company) AZDEL INC. (11/21/2007 Joined as an
Affiliated company) HANWHA INDEPENDENT ENERGY
CORPORATION(110111-3780932) (12/03/2007 2007 Joined as an Affiliated company) |
|
Overseas Affiliates |
HANWHA ( HANWHA CHEMICAL MAXFORMA INCORPORATED. UNION INDUSTRIAL DEVELOPMENT INC. BOR DEVELOPMENT LLC. MAXFORMA HOLDINGS INCORPORATED MAXFORMA PLASTICS LLC. HANWHA CHEMICAL ( HANWHA CHEMICAL ( UNIVERSAL BEARINGS INC. HANWHA AMERICA DEVELOPMENT INC. HANWHA 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 HANWHA SONORAN LLC. SONORAN HANWHA SAUDI CONTRACTING CO. LTD. HANWHA
RESOURCES (CANADA) LTD. (12/14/2007 Joined as an Affiliated company) HANWHA L&C CANADA INC. (01/02/2008
Joined as an Affiliated company) |
|
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 HANWHA MACHINERY AMERICA CORPORATION(100.0%
HELD BY THE SUBJECT COMPANY) HANWHA YANHU CHEMICAL CO. (60.0% HELD BY
THE SUBJECT COMPANY) HANWHA INTERNATIONAL( HANWHA RESOURCES ( |
|
Cooperative |
CLAVERHAM-UK YICOM-YEMEN |
Sales by
Region (Activity &
Markets)
|
Manufacturing-Sales/ Unit :Mil KRW |
2007 |
2006 |
2005 |
|
Export |
43,270 |
28,994 |
16,633 |
|
Domestic |
603,233 |
582,205 |
637,775 |
|
Total |
646,503 |
611,199 |
654,408 |
|
Wholesales/Trading-Sales/ Unit :Mil KRW |
2007 |
2006 |
2005 |
|
Export |
1,878,881 |
1,170,543 |
1,090,632 |
|
Domestic |
732,668 |
482,962 |
405,632 |
|
Total |
2,611,549 |
1,653,505 |
1,496,264 |
The Subject deals with the companies in
Court
Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
- |
The Subject Company & Fine Partners
Corporation(110111-0383507) |
KOREA ELECTRIC
POWER CORPORATION(114671-0001456) |
Claim for
Refund |
8,241 |
Proceeding |
|
|
Daejeon High Court |
The Subject Company |
Misung Enterprise & Others(1) |
Claim for
Promissory Note |
159 |
Proceeding |
|
|
Seoul Seobu District Court |
Misung Enterprise |
The Subject Company |
Claim for Damage |
240 |
Proceeding |
|
|
|
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 |
|
|
Seoul Central District Court |
The Subject Company |
TOKIMEC KOREA POWER CONTROL
CO.,LTD(110111-1617319) |
Claim for Damage |
100 |
Proceeding |
|
|
- |
|
The Subject Company |
Claim for Damage |
USD 2,650,000 |
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 WINS DAEWOO SHIPBUILDING & MARINE
JOONGANGILBO & JOINS.COM:10/25/2008
Hanwha Group has won the bid for Daewoo Shipbuilding and Marine
Engineering Co., the world’s third largest shipyard.
Korea Development Bank, the biggest shareholder in Daewoo Shipbuilding,
said in a statement yesterday it selected Hanwha as the preferred bidder for a
controlling 50.4 percent stake in the shipbuilder.
The state-run bank added it would sign a final deal with Hanwha by the
end of the year, after the conglomerate’s due diligence into the shipbuilder.
That will start early next month and last for three to four weeks.
“Hanwha offered a higher price than our expected sale price … we
selected Hanwha, considering the price and various other conditions,” Chung
In-sung, director of corporate financing at KDB, said in a press briefing.
Hanhwa has emphasized possible synergies between its petrochemical
business and Daewoo Shipbuilding’s offshore drilling business.
Chung refused to disclose the price offered by Hanwha.
Analysts said it might be around 6.5 trillion won ($4.5 billion), about
six times as large as the market value of the Daewoo Shipbuilding stake, 1.1
trillion won, based on yesterday’s close.
After KDB’s announcement, the top managers of Hanwha units held an
meeting to discuss future plans.
“Several foreign institutions have expressed intentions to join our
investment in Daewoo Shipbuilding,” the conglomerate said in a statement after
the meeting.
“After signing the final contract to take over the shipbuilder, we could
select investors from among them.”
Hanwha had been widely expected to be the preferred bidder since Posco
was disqualified last week.
Hanwha’s remaining rival, Hyundai Heavy Industries Co., showed a
reserved attitude over Daewoo.
In addition, Daewoo’s labor union opposed a takeover by Hyundai, the
world’s biggest shipyard, for fear of a large-scale restructuring.
Posco submitted a bid under the name “Posco-GS consortium” early last
week but GS withdrew from the bid due to a price disagreement.
Though the world’s fourth-biggest steelmaker then said it would make a
solo bid, KDB decided to disqualify it after two days of legal consultations.
Hanwha, the nation’s 12th biggest nongovernmental conglomerate in terms
of assets, is expected to emerge as the ninth biggest, if it finally takes over
Daewoo Shipbuilding.
On the
Analysts including Jeon Jae-cheon of Daishin Securities, said that there
are concerns that Daewoo Shipbuilding is too expensive.
By Moon So-young Staff Reporter [symoon@joongang.co.kr]
- Copyrights ⓒ JoongangIlbo &
Joins.com, All rights reserved. –
HANWHA CORP. TO SELL 5.35-PCT STAKE IN
Hanwha Corp., a Korean producer of explosives, said Monday it has
decided to sell part of its stake in Korea Life Insurance Co. to its affiliate
Hanwha Engineering & Construction Co. to improve its financial structure,
Yonhap News Agency reported.
Hanwha will sell 38 million shares, or a 5.35-percent stake, in the
nation`s second-largest life insurer for US$219.6 million on Wednesday, the
company said in a regulatory filing to the Korea Exchange.
Hanwha`s stake in the life insurer will be lowered to 20.95 percent from
the current 26.3 percent after the stake sale, Hanwha said.
Hanwha Engineering & Construction also said in a regulatory filing
it will buy the shares from Hanwha in cash.
The stake sale will increase Hanwha Engineering & Construction`s
interest in Korea Life Insurance to 28.95 percent from its current 23.6 percent.
Hanwha Group, one of Korea`s major conglomerates, became the largest
shareholder of Korea Life Insurance last September when Hanwha Engineering
& Construction bought a 17-percent stake in the insurance company from
Japan`s Orix Corp.
HANWHA SEES BOOM IN SALES OF EXPLOSIVES
JOONGANGILBO & JOINS.COM:11/13/2007
Hanwha Corporation, a Korean producer of explosives, said yesterday its
sales rose 47 percent to 865 billion won ($954 million) in the third quarter.
Operating profit more than doubled to 40.3 billion won.
The strong performance of operating profit was attributable to increased
sales in the explosives sector, the company said.Net profit reached 79.9
billion won in the three months to September, compared with 141 billion won a
year ago, Hanwha said in a regulatory filing.
Third-quarter net profit dropped 43 percent from a year ago because the
sale of a plant site sharply raised its net income in the same period last
year. Yonhap
- Copyrights ⓒ JoongangIlbo &
Joins.com, All rights reserved. –
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. -
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
The Athabasca region produces 28 percent of global uranium and all of
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
Daewoo International, which holds a 1 percent stake in a uranium mine in
“We will send more officials to
By Jung Ha-won Staff Writer [hawon@joongang.co.kr]
- Copyrights ⓒ JoongangIlbo & Joins.com, All rights reserved.
–
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.09 |
|
|
1 |
Rs.74.90 |
|
Euro |
1 |
Rs.63.40 |
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%)