MIRA INFORM REPORT

 

 

Report Date :

13.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMSUNG C&T CORPORATION

 

 

Formerly Known As :

SAMSUNG CORPORATION

 

 

Registered Office :

1321-20, Seocho 2-dong, Seocho-gu, Seoul, Korea 100-865

 

 

Country :

South Korea

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

11.01.1952

 

 

Com. Reg. No.:

104-81-26728

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Wholesaler of Non-Specialized Good

 

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 :

Exists

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Basic

 

Company Name

SAMSUNG C&T CORPORATION

(Ex. English Company Name : SAMSUNG CORPORATION)

(Korean Company Name : “삼성물산(주)”)

Registered Address

1321-20, Seocho 2-dong, Seocho-gu, Seoul, Korea

Zip Code

100-865

Tel

+82-2-2145-2114

Fax

+82-2-2145-3114

E-mail

webmaster@samsungcorp.com ; archije.kim@samsung.com   

Website

www.samsungcorp.co.kr

Trading Address

1321-20, Seocho 2-dong, Seocho-gu, Seoul, Korea

Tel

+82-2-2145-2114

Fax

+82-2-2145-3114

Other Address

Samsung Plaza, 263, Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (P.O. Box 32 Bundang, Korea)

Tel

+82-2-2145-2114

Fax

+82-2-2145-3114

Other Address-Daegu Branch (Trading)

1056, Jungni-dong, Seo-gu, Daegu 703-090 Korea

Tel

+82-53-550-1111

Other Address-Gyeongbuk Branch (Construction)

2fl. Samsung Corp. Bldg, 1056, Jungni-dong, Seo-gu, Daegu 703-090 Korea

Tel

+82-53-550-1111

Other Address-Busan Office

1205-22, Choryang-dong, Dong-gu, Busan 601-010 Korea

Tel

+82-51-460-1218

Other Address-Jungbu Branch (Construction)

3fl. Samsung Corp. Bldg, 175-8, Oryu-dong, Jung-gu, Daejeon 301-120 Korea

Tel

+82-42-530-8130

Other Address-Youngnam Branch (Construction)

2fl. Booil Mobile Telecom Co., 46-4, Geoje 1-dong, Yeonje-gu, Busan 611-712 Korea

Tel

+82-51-852-313

Other Address-Honam Branch (Construction)

3fl. Soseok Bldg. 33-4 Yu-dong, Buk-gu, Gwangju 500-020 Korea

Tel

+82-62-12-3782∼5

Other Address-Construction Machinery Office

15-13, Sameun-ri, Jiksan-eup, Cheonan-si, Chungnam-do 330-816 Korea

Tel

+82-41-583-8350

Other Address-Hannam-dong Office

739-1, Hannam 2-dong, Yongsan-gu, Seoul 140-893 Korea

Tel

+82-2-3706-7634

Other Address-Yeoksam Branch

702-10, Yeoksam 1-dong, Gangnam-gu, Seoul 135-565 Korea

Tel

+82-2-2145-5590

Other Address-Eumseong PC Factory

27-3 Gamgok-Myeon, Eumseong-gun, Chungbuk-do 369-850 Korea

Tel

+82-43-879-1588

Other Address

Samsung Plaza, 263, Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (P.O. Box 32 Bundang, Korea)

Tel

+82-2-2145-2114

Fax

+82-2-2145-3114

Type

Export/Import

Industry

Wholesale of Non-Specialized Goods

  Main Business

Plant Construction, Iron & Steel Products, Chemical Products, Apartment Construction

  Sub Business

Apartment Building Construction

Established (mm/dd/yyyy)

01/11/1952

The Subject owns the premises of Eumseong PC Factory, and occupies the premises of Registered HQ Address and Trading Address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Chemicals including Bio Chemicals and Gas Materials(12000000)

Sell

Distribution(80141700)

Sell

Structural materials and basic shapes(30100000)

Sell

Base Metals(11101700)

Sell

Industrial process machinery and equipment and supplies(23150000)

Sell

Int’l Trading of Energy & Resources

Sell

Int’l Trading of Electronic Materials

Sell

Int’l Trading of Chemicals

Sell

Int’l Trading of Iron & Steel

Sell

Int’l Trading of Machinery & Plant

Sell

Int’l Trading of Fashion & Basic Materials

 

 

CEO’s

 

Name

Jung Yeon-Joo

Date of Birth

03/15/1950

Title

Co-President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

804,332,085,000

Employees

5,016

Formation

Listed Company (Korea Stock Exchange: 000830) as of 12/13/1975

12/18/2006 Listed GDR(Global Depositary Receipts) at London Stock Exchange

A Company of Samsung Business Group

Bank Details

Woori Bank- Namdaemun Branch

Corporate Registered No.

110111-0002975

Business Registered No.

104-81-26728

Permit & Licenses

09/1996 Samsung Construction obtains ISO14001 certification

11/1994 Samsung Construction achieves BS7750, the environmental standard

07/1994 Samsung Construction obtains ISO9001 certification

 

Int’l Trade No.: 592295

Shareholder Position

Name

Shares

%

SAMSUNG SDI CO., LTD.(110111-0394174)

11,547,819

7.18

MIRAE ASSET INVESTMENT MANAGEMENT CO., LTD.(110111-1441685)

7,900,918

4.91

NATIONAL PENSION SERVICE(110171-0007134)

12,410,968

7.72

SAMSUNG LIFE INSURANCE CO., LTD.(110111-0005953)

7,854,188

4.88

TREASURY STOCK

9,961,997

6.19

OTHERS

111,190,527

69.12

TOTAL

160,866,417

100.00

Company History

03/28/2008 The subject company changes its English name to “SAMSUNG C&T CORPORATION”, and C&T means CONSTRUCTION & TRADING.

01/2008 Moved to the present HQ address from 310, Taepyeongno 2-ga, Jung-gu, Seoul, Korea

03/19/2007 Sold Distribution Business Div. to ARD Holdings Co., Ltd.

10/2006 Raemian, awarded the Good Design Prize of Japan.

07/2006 Raemian still remains first in the National Customer Satisfaction Index (NCSI) Survey. The leader in the field for 9 consecutive years.

05/2006 Raemian, acquired the GD (Good Design) Mar from the MOCIE (Ministry of Commerce, Industry and Energy).

04/2006 Raemian’s 2006 new product line unveiled.

02/2005 Held the Process Standardization Contest for the first time in the construction industry.

03/2005 Raemian 2005 new product line unveiled.

07/2005 Raemian is once again selected as number one for the past 8 years in succession in the National Customer Satisfaction Index (NCSI) Survey.

07/2005 Took the 1st place for 2 consecutive years in the evaluation of execution capabilities.

03/2004 Introduction of new 2004 Raemian product line.

06/2004 Contract on a turn-key basis, awarded for Korea ’s first tidal power generation plant at Shihwa Lake.

06/2004 Began model service for the government’s Internet home service network (Sadang-dong Raemian).

07/2004 Order received for LNG tanks #19 and #20, Incheon, Korea.

07/2004 Raemian housing brand is 1st place for 7 consecutive years in the National Customer Satisfaction Index (NCSI) Survey as the most popular brand of housing.

07/2004 Generator #5 at the Uljin Nuclear Power Plant is completed.

08/2004 Samsung Engineering & Construction is Ranked #1 in the evaluation of execution capabilities

12/2004 Following successful completion of Formosa Petrochemical Complex contracts for additional work awarded by Formosa Chemical Company, Taiwan.

12/2004 Contract awarded for the construction of ‘Burj Dubai’ ,the world’s tallest building - over 160 stories and 800 meters in height.

07/2003 Samsung a apartments lead industry in National Customer Satisfaction Survey (NCSI) for 6th consecutive year

06/2003 Japan Rating and Investment Information Inc. (R&I) upgraded Samsung Corporation's long-term credit ratings from BBB- to BBB

01/2003 Construction Group takes No. 1 spot for 2nd year in a row in reconstruction and redevelopment order intake

12/2002 Busan New Port project with investment by the US's CSXWT

02/2002 Company head office moved to Bundang; consolidation of Housing Development Division under Construction Group

01/2002 Samsung Corporation Engineering & Construction Group was awarded a $67 million contract by Tesco, the U.K. retailer, to build 3 superstores in Taiwan.

Company History

07/2001 Incheon South Port project 9 a privately-financed infrastructure project with investment by Singapore's PSA) contracted

07/2001 Was selected as the contractor of Seoul Banpo Jugong, the 2nd area Apartment Complex, Reconstruction Project on Jul-14-2001 after the residents' union members voted for Samsung Corporation

05/2001 Opened international buyers and sellers of more than 50 steel products began trading online at GSX. The Global Steel Exchange, founded by Duferco, Cargill, TradeARBED and Samsung Corporation, exceeded volume expectations during its month-long trading pilot in Apr-2001.

04/2001 Was awarded a US$34 million contract to build port facilities in Rijeka, the largest port in Croatia.

03/2001 Was awarded a Review 200 plaque in a ceremony held at The Grand Hyatt in Seoul.

11/2000 Construction of New Incheon Airport Expressway completed

10/2000 Otelinox selected as Romania's Best Firm

05/1999 Transferred the ownership of Essess Fashion to Cheil Industries Inc.

03/1999 Advanced into Internet Business

03/1999 Started a joint venture with Tesco of Britain

02/1999 Receives the order for Ghana's TOR oil refinery plant construction (US$ 185 million)

11/1998 Attained US$15 billion export

01/1998 Automobile business ceded to Samsung Motors

12/1997 Construction Division and Housing Development Division created

11/1997 Department store 'Samsung Plaza' opened in Bundang

04/1997 Debut in nuclear power plant business by winning the Uljin nuclear power reactor unit #5 order

11/1996 Awarded the 3rd annual Construction Grand Prix (Korea Management Association)

09/1996 Samsung Construction obtains ISO14001 certification

05/1996 Its first retail business -"UTOO Zone" opened

01/1996 Merger of Samsung Corporation and Samsung Construction (paid-in capital of KRW 318.7 billion)

07/1995 Contracted management of Kazakhmys initiated

11/1994 Became the first Korean company to reach US$10 billion export

11/1994 Samsung Construction achieves BS7750, the environmental standard

11/1994 Received US$ 10 Billion Export Tower Prize

09/1994 Awarded the Ghana oil refinery plant order (US$ 65 million)

07/1994 Samsung Construction obtains ISO9001 certification

05/1994 Bundang's Seohyeon station building acquired

12/1993 Issued the first company floating rate note 'Dragon Bond' in the country

11/1993 Samsung Construction wins the order for Malaysia's KLCC Building

09/1993 A long-term imports contract of Malaysian LNG concluded

05/1993 Samsung Fashion Institute founded (a joint project by Samsung Corporation, Cheil Industries and Cheil Synthetic Fiber Inc.)

04/1993 Shanghai Temporary Korean Government Building completion Ceremony held

03/1993 Renamed Samsung Corporation from Samsung Co., Ltd.

09/1991 Samsung Corporation effects Korea's first imports of Malaysian LNG

08/1991 the 1st annual national flower 'Rose of Sharon' Festival hosted

11/1988 Reached US$5 billion export (The first in Korea)

05/1975 Designated as the country's first General Trading Company (GTC)

01/1975 Merged with Cheil Moolsan and involved in the textile industry

03/1957 Established Samsung Engineering & Construction

01/1952 Established Samsung Moolsan (Former Samsung Corporation)

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

Co-President & CEO(Construction)

Mr.

Jung Yeon-Joo

Korean

1950.03.15

Dongkuk University, Korea

President & CEO (Trading)

Mr.

Chi Sung-Ha

Korean

1953.01.14

Sungkyungwan University, Korea

Vice President

Mr.

Jung Ki-Chul

Korean

1954.06.19

-

Vice President & CFO

Mr.

Lee Dong-Hwui

Korean

1956.04.15

-

Outside Director

Mr.

Park Nae-Hoei

Korean

1940.08.18

Goerge Washington University, Korea

Outside Director

Mr.

Paik Yoon-Ki

Korean

1955.08.15

Seoul National University, Korea

Outside Director

Mr.

Seo Sang-Joo

Korean

1943.11.21

Pohang Fishery College, Korea

Outside Director

Mr.

Kim Myung-Mo

Korean

1949.04.12

Colorado State University, USA

Outside Director

Mr.

Lee Jong-Wook

Korean

1953.10.18

University of Illinois, USA

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)12/2010

13,044,075,732,000

15,707,343,286,000

468,656,411,000

09/2010

9,686,573,352,429

14,850,212,016,892

457,743,824,565

2009

10,875,929,407,593

13,884,590,665,677

307,542,442,864

2008

11,811,591,875,354

11,274,226,970,070

345,142,450,462

2007

9,730,972,286,655

9,929,085,927,892

487,209,126,118

2006

9,497,796,053,014

9,991,464,110,230

188,413,781,428

2005

9,659,934,674,518

10,125,487,867,941

81,854,658,035

2004

9,696,360,009,272

8,393,141,668,397

77,115,055,482

2003

9,036,000,761,166

8,758,559,626,758

81,860,257,316

(*)The financials (2010) are released by the subject company as tentative figures as of 01/25/2011. It can be changeable by the Auditors confirmation.

 

 

Financial Description

 

Authorized Capital(KRW)

1,600,000,000,000

Paid-Up Capital(KRW)

804,332,085,000

Total Issues Shares

160,866,417

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

14,850,212,016,892

13,884,590,665,677

11,274,226,970,070

Current Assets

5,209,105,885,922

4,352,921,583,091

4,976,928,498,784

-Quick Assets

5,038,369,000,063

4,231,071,140,432

4,651,443,480,515

-Inventories

170,736,885,859

121,850,442,659

325,485,018,269

Fixed Assets

9,641,106,130,970

9,531,669,082,586

6,297,298,471,286

-Investment

8,297,906,726,470

8,151,568,276,491

5,057,507,631,536

-Tangibles

622,484,178,868

629,167,851,971

638,349,745,795

-Intangibles

22,862,914,759

28,704,179,442

35,277,040,608

-Others

697,852,310,873

722,228,774,682

566,164,053,347

Total Liabilities

7,087,966,830,036

6,429,663,985,825

6,378,814,025,642

Current Liabilities

4,279,086,260,314

3,638,525,175,189

4,531,987,358,014

Fixed Liabilities

2,808,880,569,722

2,791,138,810,636

1,846,826,667,628

Capital Stock

804,332,085,000

804,332,085,000

804,332,085,000

Capital Surplus

999,593,007,379

1,001,483,177,808

1,001,695,845,389

Profit Surplus

1,865,238,311,996

1,485,255,842,820

1,253,035,876,106

Capital Adjustment

4,093,081,782,481

4,163,855,574,224

1,836,349,137,933

Total Equity

7,762,245,186,856

7,454,926,679,852

4,895,412,944,428

Liab. & Shareholder’s Equity

14,850,212,016,892

13,884,590,665,677

11,274,226,970,070

 

Current Liabilities

4,279,086,260,314

3,638,525,175,189

4,531,987,358,014

Trade Payables

1,510,199,324,258

1,389,363,694,242

1,459,626,746,721

Short-Term Borrowings

143,514,978,414

51,430,998,650

811,745,066,722

Account Payables

382,237,087,323

287,451,819,639

308,159,068,945

Advance Receipts

1,585,373,625,457

1,548,961,749,737

1,501,723,801,684

Withholdings

131,953,154,996

110,757,926,052

88,567,000,922

Accrued Expenses

204,194,633,547

96,106,573,221

157,419,449,342

Accrued Income Tax

55,324,790,974

14,553,739,904

56,457,839,763

Provision for Construction Loss

11,445,929,350

19,583,942,701

44,739,790,666

Current Portion of Long-Term Debts

254,482,113,332

119,955,813,330

104,282,921,660

Other Current Liabilities

360,622,663

358,917,713

357,212,763

Fixed Liabilities

2,808,880,569,722

2,791,138,810,636

1,846,826,667,628

Debentures

888,400,000,000

893,520,000,000

611,500,000,000

Long-Term Borrowings

278,198,486,479

308,177,908,242

414,468,345,643

Provision for Severance & Retirement

262,692,073,080

237,934,759,880

218,800,845,190

Provision for Repairing

116,012,752,605

99,171,074,243

77,040,804,475

Deferred Income Tax Credit

1,357,338,771,861

1,321,076,893,411

644,537,815,529

Long-Term Account Payables

7,380,887,500

41,099,450,000

23,586,150,000

Other Non-Current Liabilities

55,499,257,003

56,431,851,560