MIRA INFORM REPORT

 

 

Report Date :

13.01.2011

 

IDENTIFICATION DETAILS

 

Name :

SK NETWORKS CO., LTD.

 

 

Formerly Known As :

SK Global

 

 

Registered Office :

104-28, Yeonghwa-dong, Jangan-gu, Suwon-si, Gyeonggi-do, Korea 440-816

 

 

Country :

South Korea

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

24.03.1956

 

 

Com. Reg. No.:

124-81-00718

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Wholesale of Non-Specialized Goods

 

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 :

No Complaints  

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

SK NETWORKS CO., LTD.

(Korean Company Name : “SK네트웍스(주)”)

Registered Address

104-28, Yeonghwa-dong, Jangan-gu, Suwon-si, Gyeonggi-do, Korea

Zip Code

440-816

Tel

+82-2-2221-2114

Fax

+82-2-2221-0080

E-mail

webmaster@sknetworks.co.kr;jskim08@sknetworks.co.kr; sechan@sknetworks.co.kr;jonghun724@sknetworks.co.kr

Website

www.sknetworks.co.kr

Trading Address

104-28, Yeonghwa-dong, Jangan-gu, Suwon-si, Gyeonggi-do, Korea

Tel

+82-2-2221-2114

Fax

+82-2-2221-0080

Euljiro HQ Office

198, Euljiro 2(i)-ga, Jung-gu, Seoul, Korea

Tel

+82-70-7800-2114

Fax

+82-2-754-9414

Myungdong HQ Office

199-15, Euljiro 2(i)-ga, Jung-gu, Seoul, Korea

Tel

+82-70-7800-2114

Fax

+82-2-754-9414

Other Address-Metropolitan Branch

4th Floor, Hong-in Building, 1579-9, Seocho, 3-dong, Seocho-gu, Seoul, Korea

Tel

+82-70-7800-0035

Fax

+82-2-2101-1919

Other Address-Dongbu Branch

8th Floor, Thrunet Building, 1423-1, Oncheon 3-dong, Dongrae-gu, Busan, Korea

Tel

+82-70-7800-8814

Fax

+82-51-502-2053

Other Address-Seobu Branch

7th Floor, Hanaro Telecom Building, 562-8, Gyerim 1-dong, Dong-gu, Gwangju, Korea

Tel

+82-70-7800-6801

Fax

+82-62-233-6609

Other Address-Jungbu Branch

5th Floor, Cheongsa Plaza, 924, Dunsan-dong, Seo-gu, Daejeon, Korea

Tel

+82-70-7800-5802

Fax

+82-42-472-6842

Other Address-Busan Branch

Songpa Building, 1063-1, Beomcheon-dong, Jin-gu, Busan, Korea

Tel

+82-51-818-6000

Fax

+82-51-816-8901

Other Address-Daegu Branch

51, Dongin 2-ga, Jung-gu, Daegu, Korea

Tel

+82-53-251-8000

Fax

+82-53-424-9972

Other Address-Jungbu Branch

2nd Floor, SK Telecom Dunsan Building, 594, Tanbang-dong, Seo-gu, Daejeon, Korea

Tel

+82-42-610-0100

Fax

+82-42-488-7018

Other Address-Seobu Branch

2nd Floor, Daeyoung Building, 1178-2, Chipyeong-dong, Seo-gu, Gwangju, Korea

Tel

+82-62-380-0100

Fax

+82-62-383-3648

Other Address-Daejeon Sales Office

2nd Floor, SK Telecom Dunsan Building, 594, Tanbang-dong, Seo-gu, Daejeon, Korea

Tel

+82-42-610-0180

Fax

+82-42-488-6645

Other Address-Daegu Sales Office

51, Dongin 2-ga, Jung-gu, Daegu, Korea

Tel

+82-53-425-4526

Fax

+82-53-424-9972

Other Address-Busan Sales Office

2nd Floor, Songpa Building, 1063-1, Beomcheon-dong, Jin-gu, Busan, Korea

Tel

+82-51-807-3112

Fax

+82-51-818-8033

Other Address-Fashion Business Division

The Korea Chamber of Commerce & Industry Bldg., 3FL., 45, Namdaemunro 4-ga, Jung-gu, Seoul, Korea

Tel

+82-70-7800-4564

Fax

+82-2-3789-4292

Other Address-S-Movilion Business Division

45, Namdaemunro 4-ga, Jung-gu, Seoul, Korea

Tel

+82-2-530-7900

Fax

+82-2-530-7929

Other Address-S-Welheim Business Division

45, Namdaemunro 4-ga, Jung-gu, Seoul, Korea

Tel

+82-70-7800-2143

Fax

+82-2-776-5957

Type

Export/Import

Industry

Wholesale of Non-Specialized Goods

  Main Business

Fabrics, Chemicals, Steel, System Related Total Solutions, Clothing, Cellular Telephone

Established (mm/dd/yyyy)

03/24/1956

The Subject owns the premises of the registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Petroleum and distillates(15101500)

Sell

Clothing(53100000)

Sell

Corporate uniforms(53102710)

Sell

Fuels and Fuel Additives and Lubricants and Anti corrosive Materials(15000000)

Sell

System administrators(81111800)

Sell

Information Technology Broadcasting and Telecommunications(43000000)

Sell

Digital video disk players or recorders(52161516)

Sell

Vehicle maintenance and repair services(78180100)

Sell

Mobile communications services(83111600)

Sell

World wide web WWW site operation host services(81112105)

Sell

School uniforms(53102705)

Sell

Structural materials and basic shapes(30100000)

Sell

Fabrics and leather materials(11160000)

Sell

Plywood(11121609)

 

 

CEO’s

 

Name

Lee Chang-Kyu

Address

-

Date of Birth

02/10/1956

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital

635,676,652,500 KRW

Employees

4,014

Formation

Listed Company (Korea Stock Exchange : 001740 ) as of 06/30/1977

A Company of SK Group

Bank Details

Hana Bank

Corporate Registered No.

130111-0005199

Business Registered No.

124-81-00718

Permit & Licenses

Int’l Trade No.: 670904

Shareholder Position

Name

Shares

%

SK HOLDINGS CO., LTD.(110111-0022816)

97,142,856.0

39.12

SHINHAN BANK(110111-0012809)

23,099,662.0

9.30

KOREA FINANCE CORPORATION(254171-0016498 )

19,918,350.0

8.02

National Pension Service(110171-0007134)

15,118,038.0

6.09

OTHERS

93,022,389.0

37.46

TOTAL

248,301,295.0

100.00

Company History

03/24/1956 SK Global(Sunkyong Limited) established

11/30/1966 Presidential Award received (for increasing exports by US$1,835,000)

01/01/1976 Acquired Sunil Textile Corporation

11/22/1976 Designated as a general trading company

11/30/1976 Awarded for earning U$100 million in exports

06/30/1977 Listed on the Korean Stocks Exchange

11/28/1980 SK Corporation(formerly known as Yukong Limited) is acquired

12/22/1981 Awarded for earning U$500 million in exports

10/1989 Participated in the Oil Exploration Project in Myanmmar

10/1991 Started participation in Guyana Forest Development Project

10/09/1996 Established first Chinese Korean joint venture trading company in China

04/22/1997 Concluded contract on Cambodia Forest Development Project

07/01/1998 Changed company name to SK company

12/31/1999 SK Distribution merged with

07/31/2000 SK Energy Sales merged with

07/31/2000 Changed company name to SK Global

03/19/2003 Started the management by the Creditors of Financial Institutes

09/19/2003 Changed company name to SK Networks Co., Ltd.

10/27/2003 Signed the agreement on the execution of the Plan for strengthening operation

05/01/2005 Sold the equity share of SK Life Insurance

04/17/2007 Finished the Management Procedure by the Creditors of Financial Institutes

01/29/2008 The Subject decided to acquire OBZEE CO., LTD.(110111-1048960) as of 03/31/2008

05/01/2005 Sold the equity share of SK Life Insurance

04/17/2007 Finished the Management Procedure by the Creditors of Financial Institutes

05/2007 Moved to the present HQ address from 4, Pyeong-dong ,Gwonseon-gu ,Suwon-si, Gyeonggi-do, Korea and the offices at 4, Pyeong-dong ,Gwonseon-gu ,Suwon-si, Gyeonggi-do, Korea has been closed.

01/29/2008 The Subject decided to acquire OBZEE CO., LTD.(110111-1048960) as of 03/31/2008

09/23/2009 The Subject acquired WALKERHILL INC.(110111-0142854)

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Date of Birth

President & CEO

Mr.

Lee Chang-Kyu

Male

Korean

1956. 02. 10.

President

Mr.

Kim Se-Dae

Male

Korean

1956. 09. 21

Chairman of BOD

Mr.

Park Young-Ho

Male

Korean

1947. 07. 31

Outside Director

Mr.

Kwon Seung-Hee

Male

Korean

1950. 05. 01

Outside Director

Mr.

Yoon Chang-Hyun

Male

Korean

1960. 07. 28

Outside Director

Mr.

Lee Young-Chul

Male

Korean

1949. 05. 26

Outside Director

Mr.

Chang Byung-Joo

Male

Korean

1945. 09. 18

 

 

Financials                                                

 

 

 

 

Unit: KRW

Year

Sales

Assets

Net Income

1Q/2010

5,627,498,249,739

7,237,729,403,248

38,235,988,465

2009

21,190,407,487,003

7,710,385,127,209

50,484,259,385

2008

21,897,444,114,737

7,982,489,469,620

92,575,278,890

2007

17,686,274,023,495

6,264,010,494,308

590,557,005,160

2006

15,784,019,148,561

5,832,208,519,481

473,936,092,951

2005

14,879,511,552,609

5,228,066,986,700

456,078,604,780

2004

13,613,718,718,390

4,408,265,423,877

460,628,881,668

 

 

Financial Description                                  

 

 

     Unit: KRW

Authorized Capital

3,750,000,000,000

Paid-Up Capital

635,676,652,500

Total Issues Shares

243,110,446

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2010~03/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

7,237,729,403,248

7,710,385,127,209

7,982,489,469,620

Current Assets

2,616,382,792,107

3,072,343,247,329

2,711,600,481,654

-Quick Assets

1,814,478,185,119

2,158,951,646,710

1,811,701,082,054

-Inventories

801,904,606,988

913,391,600,619

899,899,399,600

Fixed Assets

4,621,346,611,141

4,638,041,879,880

5,270,888,987,966

-Investment

1,061,985,607,024

1,009,898,451,374

1,666,733,412,302

-Tangibles

3,419,568,918,297

3,475,004,389,779

3,381,103,045,662

-Intangibles

(-)42,111,048,114

(-)42,127,637,994

21,670,305,084

-Others

181,903,133,934

195,266,676,721

201,382,224,918

Total Liabilities

4,165,838,214,145

4,639,109,711,215

5,627,102,090,122

Current Liabilities

3,176,837,835,314

3,484,900,161,050

3,661,991,028,975

Fixed Liabilities

989,000,378,831

1,154,209,550,165

1,965,111,061,147

Capital Stock

648,653,775,000

648,653,775,000

635,676,652,500

Capital Surplus

895,639,643,432

895,647,466,304

93,853,659,382

Profit Surplus

524,368,302,703

518,628,240,623

474,661,125,742

Capital Adjustment

1,003,229,467,968

1,008,345,934,067

1,151,195,941,874

Total Equity

3,071,891,189,103

3,071,275,415,994

2,355,387,379,498

Liab. & Shareholder’s Equity

7,237,729,403,248

7,710,385,127,209

7,982,489,469,620

 

Current Liabilities

3,176,837,835,314

3,484,900,161,050

3,661,991,028,975

Trade Payables

1,987,734,319,132

2,341,037,284,839

2,225,115,623,948

Short-Term Borrowings

312,906,106,459

251,637,933,659

1,052,567,868,472

Account Payables

205,335,466,463

158,622,254,467

175,662,296,867

Advance Receipts

52,887,629,050

51,011,849,158

21,544,223,262

Unearned Income

4,875,021,087

4,007,603,398

4,975,311

Withholdings

48,035,601,291

22,673,714,360

5,962,598,897

Accrued Expenses

19,800,194,704

42,987,863,739

33,416,512,921

Accrued Income Tax

123,706,866,242

215,295,964,959

-

Current Portion of Long-Term Debentures

343,000,000,000

303,000,000,000

-

Current Portion of Long-Term Debts

79,234,215,848

94,918,409,467

147,716,929,297

Fixed Liabilities

989,000,378,831

1,154,209,550,165

1,965,111,061,147

Debentures

152,000,000,000

254,000,000,000

155,000,000,000

Long-Term Borrowings

500,443,511,153

560,178,269,417

1,470,932,358,541

Guarantee Deposit Withhold

119,837,273,775

122,676,795,449

38,705,300,389

Provision for Severance & Retirement

45,131,715,640

41,780,366,562

87,356,679,746

Other Provisions

4,195,839,263

4,338,772,300

1,943,051,424

Non-Current Portion of Deferred Income Tax Credit

201,335,806,815

202,453,497,244

261,122,980,188

 

 

Income Statement

 

Unit : Korean Won

01/01/2010~03/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

5,627,498,249,739

21,190,407,487,003

21,897,444,114,737

Cost of Sold Goods

5,245,156,688,305

19,663,985,145,030

20,327,463,884,697

Gross Profit

382,341,561,434

1,526,422,341,973

1,569,980,230,040

Selling & Admin. Expenses

329,573,201,076

1,196,925,588,508

1,154,893,712,012

Operating Income

52,768,360,358

329,496,753,465

415,086,518,028

Non-Operating Income

113,981,152,684

629,583,509,450

1,008,359,939,292

Non-Operating Expenses

116,293,661,470

895,551,234,950

1,289,313,415,816

Ordinary Income

50,455,851,572

63,529,027,965

134,133,041,504

Special Income

-

-

-

Income Before Taxes

50,455,851,572

63,529,027,965

134,133,041,504

Income Taxes Expenses

12,219,863,107

13,044,768,580

41,557,762,614

Net Income

38,235,988,465

50,484,259,385

92,575,278,890

 

 

Cash Flows

 

Unit : Korean Won

01/01/2010~03/31/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

(-)168,465,919,169

234,320,940,625

376,142,670,138

-Net Income

38,235,988,465

50,484,259,385

92,575,278,890

-Exp. without Cash Outflow

57,426,314,646

484,143,731,526

511,849,183,364

-Revenue without Cash Inflows

(-)46,070,378,649

(-)138,002,871,616

(-)188,157,129,192

-Changes in Asset/ & Liability

(-)218,057,843,631

(-)162,304,178,670

(-)40,124,662,924

Cash Flows from Investing

(-)12,188,468,403

1,007,243,582,034

(-)573,882,218,472

-Cash Inflow from Investing

62,547,706,933

1,392,672,242,272

380,620,798,027

-Cash Outflows for Investing

(-)74,736,175,336

(-)385,428,660,238

(-)954,503,016,499

Cash Flows from Financing

(-)100,090,564,387

(-)1,044,515,124,980

403,308,069,502

-Cash Inflows from Financing

367,286,359,175

1,408,137,547,283

3,308,822,433,553

-Cash Outflows from Financing

(-)467,376,923,562

(-)2,452,652,672,263

(-)2,905,514,364,051

Increase/Decrease in Cash

(-)280,744,951,959

197,049,397,679

205,568,521,168

Cash at the Beginning of Year

518,244,815,172

321,195,417,493

115,626,896,325

Cash at the End of Year

237,499,863,213

518,244,815,172

321,195,417,493

 

 

Products, Technologies, Services Description

 

Main Products & Services

Global Business

-Resources & Energy

-Chemicals

-Steel

-Mobile phone

 

Domestic Business

-Network Business/ VoIP : Voice over Internet Protocol

-Information & Telecommunication

-Fashion

-Convenience Store Business

-Hotels

-Energy & Car

 

Brand Name : OK-mart, Skopi, OK-Cashbag, Tommy Hilfiger, DKNY, Daimler Chrysler, Jaguar/Land Rover, Infiniti, Speedmate

Main Products & Services

INFORMATION & TELECOMMUNICATION COMPANY

NETWORK BUSINESS DIVISIONAL GROUP

Continuous Sales Growth of Existing Network Business & Building Base for New Business (e-Government, Public Data, VoIP, etc.) On the basis of one of the most stable QoS (Quality of Service) in the country, Network Business Divisional Group provides “TONETZ”, a telecommunication line rental service for corporate clients, and “TONETZ i-fone”, an internet telephony service. Also selected as the operator for e-Government and public data network projects, the Divisional Group is providing high-quality telecommunications services for schools, government agencies and other major institutions. It hopes to build on these efforts to become the top dedicated line operator in Korea.

 

INFORMATION & TELECOMMUNICATION DISTRIBUTION BUSINESS DIVISIONAL GROUP

2nd Largest Telecommunications Business in SK Networks: Providing Integrated ICT Services Information & Telecommunication Distribution Business Divisional Group is expanding its business spectrum, centering on domestic mobile devices such as mobile phones and PDAs and encompassing service businesses such as rental, roaming, after-sales service, exporting used mobile phones, and solution businesses including IT system equipment distribution as well as Ufit, Pullbbang.com, OK Coufun services that make use of wired & wireless platforms. In addition, the Divisional Group has launched a mobile phone distribution business in China, opening the first store in Shenyang in October 2006. Having grown to include sixty mobile phone stores in China by 2007, the business will serve as a solid foundation for SK Networks to secure the core four logistics hubs and sales networks, in order to join the ranks of the top five distributors by 2011.

Main Products & Services

GLOBAL BUSINESS & PRESTIGE LIFESTYLE BUSINESS COMPANY

GLOBAL BUSINESS DIVISIONAL GROUP

A Total Solutions Provider that Satisfies Customers With its information power to respond swiftly to market changes and its competitive logistics capacity, Global Business Divisional Group is engaging in trading through a network of more than twenty countries across the world, mainly on energy, chemicals, and steel. The Divisional Group is aiming to become a globally localized trader, focusing on local distribution in foreign markets such as China, and at the same time maintaining a stable and continuous growth rate by carrying out new businesses, for example developing strategic products, expanding strategic markets and developing natural resources.

 

PRESTIGE LIFESTYLE BUSINESS DIVISIONAL GROUP

Creating Rich Customer Value through Customer-oriented Prestige Marketing

Established in March 2004 to reinforce customer service, Prestige Lifestyle Business Divisional Group is creating new value that satisfies customers’ needs with services including fashion, imported cars, housing products and wine funds. The fashion business has secured top imported brands that reflect diverse lifestyles and is also developing global fashion brands that continue to be popular over the years. As of 2007, the imported car business offers a portfolio of four brands including Chrysler, and is bringing innovation to the market with reasonable prices and differentiated services by directly importing premium auto brands such as Benz. Furthermore, the new-concept housing development business that puts customers first, and the wine fund business that provides a special way of enjoying high-quality wines are offering customers options to enhance their quality of life.

 

ENERGY MARKETING COMPANY

ENERGY MARKETING DIVISIONAL GROUP

Top Network-based Marketing Business Unit that Creates New Customer Value

As a leader in the domestic petroleum product sales market, Energy Marketing Company continues to strengthen its competitiveness by consistently improving its service and quality, as well as conducting differentiated and unique marketing methods. It is expanding its Car-Life business to become a total service provider for automobiles, and is pursing diversification of the distribution business by exploring new business models. The Divisional Group is also aiming to achieve greater globalization through a full-scale business in the Chinese market, such as the launching of Speedmate in Shanghai and an integrated petrol station business focusing on the three Northeastern provinces.

 

Trade Partners & Competitors

 

Suppliers

SK ENERGY CO., LTD.(110111-3710385)

Competitors

-INFO & TELECOMMUNICATION

KT

POWER COM

DREAM LINE

DACOM

SKN

HANARO

 

-ENERGY

GS CALTEX

S-OIL

HYUNDAI OIL BANK

INCHEON OIL

 

-INT’L TRADING

LG INTERNATIONAL CORPORATION

ADDRESS: 12TH FL., LG TWIN TOWER EAST ANNEX, 20, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL: 82-2-3773-5114 FAX: 82-2-3773-5273

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

 

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

 

SSANGYONG CORPORATION

ADDRESS: SSANGYONG BLDG., 24-1, JEODONG 2-GA, JUNG-GU, SEOUL 100-748 KOREA

TEL: 82-2-2270-8114  FAX: 82-2-2270-8334

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

SK HOLDINGS CO., LTD.(110111-0022816)

SK TELECOM CO., LTD.( 110111-0371346)

PAXNET, INC.(110111-1698830)

IHQ, INC.(110111-0042393)

SK TELINK, CORP.(110111-1533599)

AIRCROSS CO., LTD.(110111-2121765)

TU MEDIA CORPORATION(110111-2907826)

SK COMMUNICATIONS CO., LTD.(110111-1322885)

COMMERCE PLANET CO., LTD.(110111-1416133)

F&U CREDIT INFORMATION CO., LTD.(135311-0003300)

SK WYVERNS CO., LTD(120111-0217366)

SK TELESYS CO., LTD.(110111-1405897)

LOEN ENTERTAINMENT, INC.(134111-0010706)

INFOSEC CO., LTD(110111-2007858)

ENCAR NETWORKS LTD.(110111-2125270)

INDEPENDENCE CO., LTD.(110111-2010116)

SKC MEDIA CO., LTD.(161511-0076377)

IFILM CORPORATION(110111-2857451)

SK BROADBAND CO., LTD.(110111-1466659)

CU MEDIA. INC.(110111-2031477)

NTREEV SOFT CO., LTD.(110111-2906456)

SK I-MEDIA CO., LTD.(110111-3505851)

NURI SOLUTION CO., LTD.(110111-1866213)

HANAROMEDIA INC.(110111-3292664)

HANARO DREAM INCORPORATED(110111-2183343)

BROADBAND D&M CO., LTD.(110111-1509269)

NOWON JOEUN TELECOM CO., LTD.(110111-3655218)

MIRACLE INFORMATION & TELECOMMUNICATION CO., LTD.(120111-0433491)

QC I&T CO., LTD.(110111-3675381)

QL KWANAK CO., LTD.(110111-3826140)

QL DONGJAK CO., LTD.(110111-3729740)

QL SEOCHO CO., LTD.(110111-3729807)

QL YONGSAN CO., LTD.(110111-3761023)

QL YANGCHEON CO., LTD.(110111-3729609)

SK NETWORKS CO., LTD.(130111-0005199)

SK ENGINEERING & CONSTRUCTION CO., LTD.(110111-0038805)

SK SHIPPING CO., LTD.(110111-0311392)

 

SK C&C CO., LTD.(110111-0769583)

(15.0% held by the subject company)

 

INNOACE CO., LTD(110111-2104026)

(43.0% held by the subject company)

 

IPLATFORM, INC(110111-3638917)

(66.67% held by the subject company)

Affiliates-Domestic

SK D&D CO., LTD.(110111-3001685)

OK CASHBAG SERVICE CO., LTD.(110111-1873432)

SK NETWORKS SERVICE CO., LTD.(135811-0141788)

SK MARKETING & COMPANY CO., LTD.(110111-3874066)

BROADBAND TS CO., LTD.(281111-0119401)

BROADBAND CS CO., LTD.(110111-1592595)

BROADBAND SEOUL CS CO., LTD.(110111-3558842)

BROADBAND BUSAN CS CO., LTD.(180111-0573774)

BROADBAND GYEONGGI CS CO., LTD.(134111-0147575)

BROADBAND GWANGJU CS CO., LTD.(200111-0233050)

ANTS CO., LTD.(151111-0031058)

ULLEUNG DEEP SEA WATER CO., LTD(110111-3224724)

SOLMICS CO., LTD.(134711-0014631)

UB CARE CO., LTD.(110111-1105364)

MECHARONICS CO., LTD.(120111-0233338)

ULLEUNG MINERAL CO., LTD.(110111-2602244)

REAL BEST CO., LTD.

 

MRO KOREA CO., LTD(110111-2016940)

(51.0% held by the subject company)

 

WS TRADING CO., LTD.(110111-3448712)

(100.0% held by the subject company)

 

SK SECURITIES CO., LTD(110111-0037112)

(22.71% held by the subject company)

Affiliates-Overseas

KIWI STEEL N.Z. LTD.

SK NETWORKS AMERICA, INC.

SK NETWORKS DEUTSCHLAND GMBH

SK NETWORKS AUSTRALIA PTY. LTD.

SK STEEL AUSTRALIA PTY. LTD.

SK NETWORKS (SHANGHAI) TRADING CO., LTD.

SK NETWORKS (GUANGZHOU) TRADING CO., LTD.

SK(DONGGUAN) STEEL CO., LTD

SK(ZHANGJIAGANG) METAL PRODUCTS CO.,LTD

POSK STEEL(PINGHU) PROCESSING CENTER CO.,LTD

SK NETWORKS PS(SHANTOU)CO., LTD

NINGBO SK ZHENBANG CHEMICAL. LTD

DAIYANG - SK NETWORKS METAL SANAYI VE TICARET LTD

SK NETWORKS MIDDLE EAST FZE

PT SK NETWORKS (INDONESIA)

SHENYANG SK NETWORKS ENERGY CO., LTD

SHANGHAI LAUNCH-SK AUTOMOBILE SERVICE CO., LTD

SK NETWORKS (SHANGHAI) MARKETING CO., LTD

SK NETWORKS(CHINA)HOLDINGS CO., LTD

DANDONG SK NETWORKS REAL ESTATE CO., LTD

SHENYANG SK NETWORKS BUS TERMINAL CO., LTD

DANDONG SK NETWORKS ENERGY CO., LTD

DANDONG SK NETWORKS LOGISTICS CO., LTD

SHENYANG SK NETWORKS ELECTRONICS &TELECOMMUNICATIONS CO., LTD

SK NETWORKS (SHANGHAI) ELECTRONICS &TELECOMMUNICATIONS MARKETING CO., LTD

BEIJING SK NETWORKS ELECTRONICS & TELECOMMUNICATIONS CO., LTD

SHANDONG SK NETWORKS ELECTRONICS &TELECOMMUNICATIONS CO., LTD

SK NETWORKS HONG KONG

SK NETWORKS MEXICO S.A DE C.V

SKYNETWORKS LCC.

MIRAE COMPANY LIMITED

RICHARD CHAI LLC.

OBZEE N.Y

Overseas Office

SK NETWORKS CO., LTD. QINGDAO BRANCH

ROOM 1403, HISENSE TOWER 17 DONGHAI XI ROAD, QINGDAO , CHINA

TEL : 86-(532)-387-4331, 4333, 7054, 7187, 4440 FAX : 86-(532)-387-4555

 

SK NETWORKS CO., LTD. GUANGZHOU BRANCH ROOM

1706, OFFICE TOWER , CITIC PLAZA, NO.233 TIANHE ROAD NORTH , TIANHE DISTRICT, GUANGZHOU , CHINA (510613)

TEL : 86-(20)-3891-2445 FAX : 86-(20)-8732-0869

 

SK NETWORKS CO., LTD. WUHAN BRANCH

ROOM 705, WUHAN INT'L TRADE COMMERCIAL CENTRE, NO.297 XINHUA BACK ROAD , WUHAN , CHINA (430022)

TEL : 86-(27)-8577-5840, 5842, 5847 86-(27)-8572-4634, 4644 / FAX : 86-(27)-8577-5851

 

SK NETWORKS CO., LTD.

CHENGDU OFFICE 24 THFL. CHUANZIN MANSION , 18 SEC.2 RENMIN SOUTH ROAD , CHENGDU , CHINA (610016)

TEL : 86-(28)-6199-755~9 FAX : 86-(28)-6200-155

 

SK NETWORKS CO., LTD. DALIAN OFFICE

18TH FLOOR, SENMAO BLDG. 147 ZHONG SHAN ROAD XIIGANG DISTRICT,

DALIAN , CHINA (116011)

TEL : 86-(411)-8360-9393 FAX : 86-(411)-8369-3924

 

SK GLOBAL HONG KONG LTD. TAIPEI BRANCH

5TH FLOOR ROOM A-1 NO.287 NAN-KING EAST ROAD, SEC.3, TAIPEI, TAIWAN, R.O.C.

TEL : 886-(2)-2718-3949 FAX : 886-(2)-2514-0377, 0294

 

SK NETWORKS CO., LTD.

HARBIN OFFICE 4TH FI., SONGLEIL GROUP BLDG. 160 ZHONGSHAN ST. , DONGLI DIST. HARBIN , CHINA (150040)

TEL : 86-(451)-264-8505 FAX : 86-(451)-246-8492

 

SK NETWORKS CO., LTD. SHANGHAI BRANCH

ROOM NO.2310, INTERNATIONAL TRADE CENTER, 2201, YAN AN ROAD (W), SHANGHAI, CHINA

TEL : 86-(21)-6295-0088 / FAX : 86-(21)-6295-0033/55

 

SK NETWORKS (CHINA) HOLDINGS CO., LTD.

SK NETWORKS PS (SHANTOU) CO., LTD

 

SHENYANG SK NETWORKS ENERGY CO., LTD

18/F BLOCKA PRESIDENT BUILDING, NO.69HEPING NORTH STREET, HEPING DISTRICT, SHENYANG CITY, LIAONING PROVINCE, CHINA

TEL : 86-(24)-2281-4330 / FAX : 86-(24)-2281-4334,4340,4350

Subsidiary

SK NETWORKS DEUTSCHLAND GMBH

(100% held by the subject company)

 

SK NETWORKS AUSTRALIA PTY LTD.

(100% held by the subject company)

 

KIWI STEEL NZ LTD.

(100% held by the subject company)

 

CNTIC-SK TRADING CO., LTD.

(49% held by the subject company)

 

ZHANGJIAGANG SKOK METAL PRODUCTS CO., LTD

(100% held by the subject company)

 

SHENYANG SK NETWORKS ENERGY CO., LTD.

(50% held by the subject company)

 

SKN (CHINA) HOLDINGS CO., LTD

(100% held by the subject company)

 

PINRISE

(40% held by the subject company)

 

MEIJING

(23.61% held by the subject company)

 

SK GLOBAL ASIA-PACIFIC PTE. LTD.

(60.78% held by the subject company)

 

SK GLOBAL HONG KONG LTD.

(57.75% held by the subject company)

 

SK GLOBAL EUROPE LTD.

(65.06% held by the subject company)

Cooperative Enterprise

Tommy Hilfiger Licensing, Inc.

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit : KRW

03/2010

2009

2008

Export

1,448,442

4,676,039

4,610,659

Domestic

4,179,056

16,514,368

17,286,785

Total

5,627,498

21,190,407

21,897,444

 

The Subject exports to China, Vietnam, Hong Kong, Taiwan, Japan, Philippines, USA, Thailand, UAE, Saudi Arabia, Belgium, Italy and New Zealand..

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (KRW)

Status

2008NU9159

Seoul High Court

The Subject Company & Others(2)

Fair Trade Commission

Cancellation on Imposed Order

900,000,000

2nd Round Proceeding

2007DU26513

Supreme Court

The Subject Company

President of Suwon Tax Office

Cancellation on Imposed VAT

1,859,565,240

3rd Round Proceeding

2007 DU 18093

Supreme Court

The Subject Company

President of Suwon Tax Office

Cancellation on Imposed VAT

107,795,740

3rd Round Proceeding

2007Kuhap8912

Suwon District Court

The Subject Company

President of Suwon Tax Office

Cancellation on Imposed VAT

14,997,519,191

1st Round Proceeding

2007NA117681

Seoul High Court

Kim Jong-Soo

The Subject Company

Claim for damages

147,666,600

2nd Round Proceeding

2008Kahap20662

Suwon District Court

T&G

The Subject Company

Claim for Attorney’s Fee

737,203,879

1st Round Proceeding

2007 Kahap 7671

Seoul Central District Court

Kim Jong-Soo

The Subject Company

Claim for damages

147,666,600

Proceeding

2007 Kahap 4166

Seoul Nambu District Court

SG Wicars

The Subject Company

Refund on illegal profits

26,436,167,852

Proceeding

2006 Kaso 82825

Seoul Central District Court

Han Cheong-Hee and others(3)

The Subject Company

Claim for damages

12,288,000

Proceeding

2006 Kahap 47023

Seoul Central District Court

Park Byung-Joo and others(3)

The Subject Company

Refund on guarantee deposits

186,966,666

Proceeding

2006 Kuhap 8380

Suwon District Court

The Subject Company

Suwon Tax Office

Cancellation on VAT

619,855,080

Proceeding

2006 Kahap 98380

Seoul Central District Court

SG Wicars

The Subject Company

Confirmation on not existing liabilities

1,649,232,599

Proceeding

2006 Kahap 23353

Suwon District Court

Dongmung Special Construction

The Subject Company

Unacceptable on dividends

216,007,000

Proceeding

2006 Kahap 4687

Goyang Branch Court

The Subject Company

Won Young-Man

Claim for Trade Receivables

186,000,000

Proceeding

 

 

News Clipping

 

----

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.16

UK Pound

1

Rs.70.64

Euro

1

Rs.58.68

 

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

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

 

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

 

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

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

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.