MIRA INFORM REPORT

 

 

Report Date :

17.01.2012

 

IDENTIFICATION DETAILS

 

Name :

HYUNDAI STEEL COMPANY

 

 

Formerly Known As :

INI STEEL COMPANY

 

 

Registered Office :

1, Sohnghyun-Dong Dong-Gu Incheon, 401-712 Korea, Republic of Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.06.1953

 

 

Legal Form :

Public Parent

 

 

Line of Business :

Manufacture of basic iron and steel and of ferro-alloys

 

 

No. of Employees :

8,306

 

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 :

Clear

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Top of Form

Bottom of Form

Hyundai Steel Company

                       

 

1, Sohnghyun-Dong

Dong-Gu

 

Incheon, 401-712

Korea, Republic of

 

Tel:

82-32-7602114

Fax:

82-2-21129599

 

Branch Address:

Hunday Motors Building 231 Yangjae-Dong, Seocho-Gu KOR-137938 Seoul, South Korea

www.hyundai-steel.com

 

Employees:

8,306

Company Type:

Public Parent

Corporate Family:

3 Companies

Traded:

Korea Stock Exchange:

004020

Incorporation Date:

10-Jun-1953

Auditor:

Deloitte & Touche LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2010

Reporting Currency:

South Korean Won

Annual Sales:

9,525.1  1

Net Income:

877.1

Total Assets:

16,513.2  2

Market Value:

7,129.2

 

(06-Jan-2012)

                                      

Business Description       

 

HYUNDAI STEEL COMPANY is a Korea-based steel manufacturer. The Company's products include section steels, wide flange beams, reinforcing bars, hot rolled steels, steel plates and cast steels. Its products are used in shipbuilding, construction, engineering, railway and other industrial areas. The Company distributes its products to both the domestic and overseas markets. The Company's main customers are HYUNDAI HYSCO, HYUNDAI CORPORATION and others. For the nine months ended 30 September 2011, Hyundai Steel Co.'s revenues increased 55% to W11.370T. The Company's net income decreased 22% to W474.37B. Revenues reflect increased domestic demands for vairous products, such as wide flange beams and reinforcing bars. Net income was offset by decreased gain from foreign currency translations and increased interest expense as well as decreased loss from foreign currency transactions.

 

 

          

Industry                                                                                                                               

 

Industry

Iron and Steel

ANZSIC 2006:

2110 - Iron Smelting and Steel Manufacturing

NACE 2002:

2710 - Manufacture of basic iron and steel and of ferro-alloys

NAICS 2002:

331111 - Iron and Steel Mills

UK SIC 2003:

2710 - Manufacture of basic iron and steel and of ferro-alloys

US SIC 1987:

3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

                      

Key Executives           

   

 

Name

Title

Seung Ha Park

Vice Chairman of the Board, Co-Chief Executive Officer

Hak Seo Kang

Director of Financial Office

Won Seok Cho

Vice President

Young Gon Kim

Director-Finance

Sang Kon Kim

Director-Marketing

 

Significant Developments                                                                                       

 

Topic

#*

Most Recent Headline

Date

Negative Earnings Pre-Announcement

1

Hyundai Steel Co., Ltd. Issues FY 2011 Revenue Outlook Below Analysts' Estimates

28-Jan-2011

Business Deals

2

Hyundai Steel Co., Ltd. Amends Amount of Contract with Korea's Public Procurement Service

22-Apr-2011

Products

1

Hyundai Steel Co., Ltd. to Invest KRW 3,255 Billion in New Facilities

18-Mar-2011

Positive Earnings Pre-Announcement

1

Hyundai Steel Co., Ltd. Issues FY 2011 Revenue Outlook Above Analysts' Estimates

28-Jul-2011

Dividends

1

Hyundai Steel Co., Ltd. Declares Annual Cash Dividend for FY 2010

25-Feb-2011

* number of significant developments within the last 12 months

 

             

News      

 

Title

Date

S. KOREAN EXPORTS OF STEEL PRODUCTS HITS RECORD HIGH IN 2011
Asia Pulse Businesswire (246 Words)

11-Jan-2012

UPDATE: Asian Shares Mostly Down, Europe Woes Outweigh US Data; Euro Hits Fresh Lows
Nikkei English News (720 Words)

8-Jan-2012

Asian Shares Fall, Europe Woes Outweigh US Data; EUR Hits Fresh Lows
Nikkei English News (589 Words)

8-Jan-2012

Seoul shares fall 1.11 pct on renewed Europe concerns
Yonhap News Agency (South Korea) (332 Words)

7-Jan-2012

Hyundai Motor Group to invest record 14.1 tln won in 2012
Yonhap News Agency (South Korea) (250 Words)

29-Dec-2011

    

Financial Summary                                                                                                                       

 

As of 30-Sep-2011

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.05

2.95

Quick Ratio (MRQ)

0.61

1.63

Debt to Equity (MRQ)

1.09

0.67

Sales 5 Year Growth

14.26

8.01

 

 

 

 

   Stock Snapshot                                 

 

Traded: Korea Stock Exchange: 004020

 

As of 6-Jan-2012

   Financials in: KRW

Recent Price

96,600.00

 

EPS

12,299.28

52 Week High

149,500.00

 

Price/Sales

0.75

52 Week Low

74,200.00

 

Dividend Rate

500.00

Avg. Volume (mil)

0.60

 

Price/Book

1.05

Market Value (mil)

8,241,379.00

 

Beta

1.63

 

Price % Change

Rel S&P 500%

4 Week

-4.83%

-3.19%

13 Week

7.10%

2.25%

52 Week

-27.09%

-17.81%

Year to Date

0.94%

-0.0099%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1156.282
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1134.9

 

 

Corporate Overview

 

Location
1, Sohnghyun-Dong
Dong-Gu
Incheon, 401-712
Korea, Republic of

 

Tel:

82-32-7602114

Fax:

82-2-21129599

 

www.hyundai-steel.com

Quote Symbol - Exchange

004020 - Korea Stock Exchange

Sales KRW(mil):

11,013,712.0

Assets KRW(mil):

18,740,842.0

Employees:

8,306

Fiscal Year End:

31-Dec-2010

 

Industry:

Iron and Steel

Incorporation Date:

10-Jun-1953

Company Type:

Public Parent

Quoted Status:

Quoted

Previous Name:

INI Steel Company

 

Chief Executive Officer, President and Director:

Sung Suk Yang

 

Company Web Links

Corporate History/Profile

Executives

Financial Information

 

Home Page

Investor Relations

News Releases

 

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

 

 

Industry Codes

 

ANZSIC 2006 Codes:

2110

-

Iron Smelting and Steel Manufacturing

 

NACE 2002 Codes:

2710

-

Manufacture of basic iron and steel and of ferro-alloys

2732

-

Cold rolling of narrow strip

 

NAICS 2002 Codes:

331111

-

Iron and Steel Mills

331221

-

Rolled Steel Shape Manufacturing

 

US SIC 1987:

3312

-

Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

3316

-

Cold-Rolled Steel Sheet, Strip, and Bars

 

UK SIC 2003:

2710

-

Manufacture of basic iron and steel and of ferro-alloys

2732

-

Cold rolling of narrow strip

 

 

Business Description

HYUNDAI STEEL COMPANY is a Korea-based steel manufacturer. The Company's products include section steels, wide flange beams, reinforcing bars, hot rolled steels, steel plates and cast steels. Its products are used in shipbuilding, construction, engineering, railway and other industrial areas. The Company distributes its products to both the domestic and overseas markets. The Company's main customers are HYUNDAI HYSCO, HYUNDAI CORPORATION and others. For the nine months ended 30 September 2011, Hyundai Steel Co.'s revenues increased 55% to W11.370T. The Company's net income decreased 22% to W474.37B. Revenues reflect increased domestic demands for vairous products, such as wide flange beams and reinforcing bars. Net income was offset by decreased gain from foreign currency translations and increased interest expense as well as decreased loss from foreign currency transactions.

 

 

More Business Descriptions

Comprehensive steel company producing iron and steel products, including wide flange beams, structural tees, stainless steel plates and strips, sheet piles, railway and light rails, elevator guide rails, equal angles, inverted angles, channels, reinforcing deformed bars, wire rods and steel castings

 

Establishments primarily engaged in manufacturing miscellaneous fabricated products, including beauty shop and barber shop equipment; hair work; tobacco pipes and cigarette holders; coin-operated amusement machines; matches; candles; lamp shades; feathers; artificial trees and flowers made from all materials, except glass; dressed and dyed furs; umbrellas, parasols, and canes; and other articles, not elsewhere classified.

 

Iron and Steel Mills and Ferroalloy Manufacturing

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

KRW(mil)

 

Revenue:

11,013,712.0

Net Income:

1,014,142.4

Assets:

18,740,842.0

Long Term Debt:

4,865,902.0

 

Total Liabilities:

11,001,086.0

 

Working Capital:

-126.6

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

28.2%

-11.5%

16.7%

 

 

Market Data

Quote Symbol:

004020

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

96,600.0

Stock Price Date:

01-06-2012

52 Week Price Change %:

-27.1

Market Value (mil):

8,241,378,816.0

 

SEDOL:

6461850

ISIN:

KR7004020004

 

Equity and Dept Distribution:

04/2006, Company name changed from INI Steel Company. FY'94-'99 financials reflect non-consolidated numbers. 03/10 1P drop. 03/2010, Company delisted from exchange. Ticker: 004020. 05/99, rights issue (F: 1.1859). 01/99, rights issue (F: 1.1673). 08/97, rights issue (F: 1.086).

 

 

 

Subsidiaries

Company

Percentage Owned

Country

Qingdao Hyundai Machinery Co., Ltd.

 

SOUTH KOREA

BNG Steel Co Ltd

 

SOUTH KOREA

 

 

 

 

 

Shareholders

 

 

Major Shareholders

Kia Motors Corporation (21.39%); Mong Ku Chung (12.6%)

 

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP, Deloitte Anjin

 

 

 

 

 

 

 

 

 

 

Corporate Structure News

 

Hyundai Steel Company
Total Corporate Family Members: 3

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Hyundai Steel Company

Parent

Incheon

Korea, Republic of

Iron and Steel

9,525.1

8,306

Hyundai BNG Steel Co Ltd

Subsidiary

ChangWon-Si, Gyeongsangnam-do

Korea, Republic of

Construction - Supplies and Fixtures

675.6

431

Hanbo Iron & Steel Co Ltd

Subsidiary

Chungnam-do

Korea, Republic of

Iron and Steel

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Mong Koo Chung

 

Chairman

Chairman

Mong Gu Jung

 

Chairman

Chairman

 

Jung Mong Gu has been Director of Hyundai Steel Company since March 11, 2005. Jung currently also serves as Chief Executive Officer and Chairman of the Board at HYUNDAI MOTOR CO, KIA MOTORS CORPORATION and HYUNDAI MOBIS CO.,LTD. Jung is also Director of Hyundai PowerTech Co. Ltd. and The Korea Economic Daily. Jung holds a Bachelor's degree in Industrial Management from Hanyang University, a Doctorate's degree in Sociology from University of Connecticut and a honorary Doctorate's degree in Business Administration from Korea University.


Education

PHD Sociology, University of Connecticut
B Industrial Management, Hanyang University

Seung Ha Park

 

Vice Chairman of the Board, Co-Chief Executive Officer

Vice-Chairman

 

 

 

Park Seung Ha has been Vice Chairman of the Board and Co-Chief Executive Officer of Hyundai Steel Company since March 12, 2010. Park previously served as President at the Company and DYMOS INC. Park previously was also worked for HYUNDAI MOTOR CO and HYUNDAI MOBIS CO.,LTD. Park holds a Bachelor's degree in Metallurgical Engineering from Hanyang University, Korea.


Education

B Metallurgical Engineering, Hanyang University

Tae Sik Ahn

 

Director

Director/Board Member

 

Hwong-Soo Chon

 

Director

Director/Board Member

 

Hyeong Su Jeon

 

Non-Executive Independent Director

Director/Board Member

 

 

Jeon Hyeong Su has been Non-Executive Independent Director of Hyundai Steel Company since March 10, 2006. Jeon currently also serves Kim & Chang, a Korea-based law firm, as an advisor. Jeon holds a Bachelor's degree in Mathematics from Yonsei University, Korea, two Master's degrees in Public Administration from Konkuk University and Seoul National University, Korea and a Doctorate's degree in Law from Konkuk University , Korea.


Education

JD , Konkuk University
M Public Administration, Seoul National University
M Public Administration, Konkuk University

Seung Do Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

 

Kim Seung Do has been Non-Executive Independent Director of Hyundai Steel Company since March 12, 2010. Kim serves as a professor of Hallym University, Korea. Previously, Kim was with Korea Environmental Technology Development. Kim received a Bachelor's degree in Marine Science from Seoul National University in 1984, Korea and a Doctorate's degree in Environmental Engineering from University of Wisconsin in 1995, Madison, the United States.


Education

PHD Environmental Engineering, University of Wisconsin, Madison
B Marine Science, Seoul National University

Sang Dae Kim

 

Director

Director/Board Member

 

 

 

Kim Sang Dae is Non-Executive Independent Director of Hyundai Steel Company. Currently, Kim is also a professor at Business Administration Department, Korea University. Kim received a Bachelor's degree in Architectural Engineering from Korea University and a Doctorate's degree from Illinois Institute of Technology, the United States.


Education

DS , Illinois Institute of Technology
B Architectural Engineering, Korea University

Dong Jun Min

 

Non-Executive Independent Director

Director/Board Member

 

 

 

Min Dong Jun is Non-Executive Independent Director of Hyundai Steel Company. Currently, Min is also a professor at Department of Metallurgical Engineering, Yonsei University. Min received a Bachelor's degree in Metallurgical Engineering from Yonsei University, Korea and a Doctorate's degree in Metallurgical Engineering from University of Tokyo, Japan.


Education

DS Mechanical Engineering, University of Tokyo
B Metallurgical Engineering, Yonsei University

Myeong Seok Oh

 

Managing Director

Director/Board Member

 

 

 

Oh Myeong Seok has been Managing Director of Hyundai Steel Company. Oh was previously Assistant Managing Director of the Company. Oh holds a Doctorate's degree from ChungNam National University, Korea.


Education

PHD , ChungNam National University

Jeong Seok Oh

 

Outside Director

Director/Board Member

 

Yu Cheol Woo

 

President, Co-Chief Executive Officer, Director

Director/Board Member

 

 

Woo Yu Cheol has been President, Co-Chief Executive Officer and Director of Hyundai Steel Company since March 12, 2010. Prior to the current position, Woo served as Vice President and Managing Director of the Company. Woo received a Bachelor's degree in Ship Building and Marine Engineering from Seoul National University, Korea and a Doctorate's degree from State University of New York, the United States.


Education

DS Mechanical Engineering, State University of New York
B , Seoul National University

 

Executives

 

Name

Title

Function

Seung Ha Park

 

Vice Chairman of the Board, Co-Chief Executive Officer

Chief Executive Officer

 

Park Seung Ha has been Vice Chairman of the Board and Co-Chief Executive Officer of Hyundai Steel Company since March 12, 2010. Park previously served as President at the Company and DYMOS INC. Park previously was also worked for HYUNDAI MOTOR CO and HYUNDAI MOBIS CO.,LTD. Park holds a Bachelor's degree in Metallurgical Engineering from Hanyang University, Korea.


Education

B Metallurgical Engineering, Hanyang University

Yu Cheol Woo

 

President, Co-Chief Executive Officer, Director

Chief Executive Officer

 

 

 

Woo Yu Cheol has been President, Co-Chief Executive Officer and Director of Hyundai Steel Company since March 12, 2010. Prior to the current position, Woo served as Vice President and Managing Director of the Company. Woo received a Bachelor's degree in Ship Building and Marine Engineering from Seoul National University, Korea and a Doctorate's degree from State University of New York, the United States.


Education

DS Mechanical Engineering, State University of New York
B , Seoul National University

Sung Suk Yang

 

Chief Executive Officer, President and Director

Chief Executive Officer

 

Dae Yeong Cho

 

Managing Director

Managing Director

 

 

Cho Dae Yeong has been Managing Director of Hyundai Steel Company since 2009. Cho was also Assistant Managing Director of the Company. Cho received a Master's degree from Seoul National University, Korea.


Education

M , Seoul National University

Jong Ho Cho

 

Assistant Managing Director

Managing Director

 

 


Education

B , Yeungnam University

Wuk Sin Choi

 

Assistant Managing Director

Managing Director

 

 


Education

B , Gyeongsang National University

Won Jip Choi

 

Assistant Managing Director

Managing Director

 

 


Education

PHD , Kentucky University

Don Chang Choi

 

Assistant Managing Director

Managing Director

 

 


Education

B , Hanyang University

Cheon Su Han

 

Assistant Managing Director

Managing Director

 

 


Education

B , Sungkyunkwan University

Jae Ok Hwang

 

Assistant Managing Director

Managing Director

 

 


Education

B , Yeungnam University

Gil Seong Jang

 

Managing Director

Managing Director

 

 

Reuters Biography (Hyundai Steel Company)

Jang Gil Seong is Managing Director of HYUNDAI STEEL COMPANY. Jang also serves as Head-Business Planning Division of the Company. Jang received a Bachelor's degree from Seoul National University, Korea.


Education

B , Seoul National University

Jin Sik Jung

 

Assistant Managing Director

Managing Director

 

 


Education

M , California State University

Hyeok Jung Kim

 

Assistant Managing Director

Managing Director

 

 


Education

B , Dong-A University

Gi Seong Kim

 

Assistant Managing Director

Managing Director

 

 


Education

B , Chonbuk National University

Jong Gi Kim

 

Managing Director

Managing Director

 

 

 

Kim Jong Gi has been Managing Director in Hyundai Steel Company since 2008. Prior to the current position, Kim served as Assistant Managing Director of the Company. Kim received a Bachelor's degree from Hanyang University, Korea.


Education

B , Hanyang University

Yeong Hwan Kim

 

Managing Director

Managing Director

 

 

Reuters Biography (Hyundai Steel Company)

Kim Yeong Hwan has been Managing Director of Hyundai Steel Company since 2009. Kim was served as Assistant Managing Director at the Company. Kim received a Bachelor's degree from Inha University, Korea.


Education

B , Inha University

Beom Su Kim

 

Managing Director

Managing Director

 

 

 

Kim Beom Su is Managing Director of HYUNDAI STEEL COMPANY. Previously, Kim worked for KIA MOTORS CORPORATION. Kim received a Bachelor's degree from Yeungnam University, Korea.


Education

B , Yeungnam University

Soon Mo Kyung

 

Managing Director-Corporate Communications

Managing Director

 

Jong Yin Lee

 

Managing Director

Managing Director

 

 

Lee Jong Yin has been Managing Director of Hyundai Steel Company since 2007. Prior to the current position, Lee was Assistant Managing Director of the Company. Lee received a Bachelor's degree from Korea University and a Master's degree from Kookmin University, Korea.


Education

M , Kookmin University
B , Korea University

Gye Yeong Lee

 

Assistant Managing Director

Managing Director

 

 


Education

PHD , University of Queensland

Mu Seop Lee

 

Assistant Managing Director

Managing Director

 

 


Education

B , Dankook University

Myeong Seok Oh

 

Managing Director

Managing Director

 

 

 

Oh Myeong Seok has been Managing Director of Hyundai Steel Company. Oh was previously Assistant Managing Director of the Company. Oh holds a Doctorate's degree from ChungNam National University, Korea.


Education

PHD , ChungNam National University

Tae Ha Oh

 

Assistant Managing Director

Managing Director

 

 


Education

B , Hanyang University

Nam Sun Park

 

Assistant Managing Director

Managing Director

 

 


Education

B , Chonnam National University

Yeong Su Park

 

Assistant Managing Director

Managing Director

 

 


Education

M , Yonsei University

Sun Geun Park

 

Assistant Managing Director

Managing Director

 

 


Education

B , Sungkyunkwan University

Chung Sik Song

 

Managing Director

Managing Director

 

 


Education

BBA , Kangwon National University

Yoo Chul Woo

 

Senior Managing Director-Technology

Managing Director

 

Hak Seo Kang

 

Director of Financial Office

Finance Executive

 

 

Kang Hak Seo has been Vice President and Director of Hyundai Steel Company since March 13, 2009. Kang was previously Chief Executive Officer cum Vice President of HYUNDAI-ROTEM COMPANY. Kang holds a Bachelor's degree in Business Administration from Yeungnam University, Korea and a Master's degree in Business Administration from Yonsei University, Korea.


Education

M Business Administration, Yonsei University
B Business Administration, Yeungnam University

Young Gon Kim

 

Director-Finance

Finance Executive

Pil Hyun Koo

 

Director-Investor Relations

Investment Executive

Sang Kon Kim

 

Director-Marketing

Marketing Executive

Kyung Seok Lee

 

Director-Research & Development

Research & Development Executive

Yun Gi Kim

 

Vice President - Manufacturing

Manufacturing Executive

Won Seok Cho

 

Vice President

Other

 

 

Cho Won Seok has been Vice President of HYUNDAI STEEL COMPANY since September 21, 2009. Previously, Cho was worked for HYUNDAI MOTOR CO and KIA MOTORS CORPORATION. Cho received a Doctorate's degree from University of Michigan, the United States.


Education

PHD , Michigan University

Bong Cheol Choi

 

Vice President

Other

 

 

 

Choi Bong Cheol has been Vice President of HYUNDAI STEEL COMPANY since 2009. Previously, Choi was worked for HYUNDAI AMCO CO.,LTD. Choi received a Master's degree from Dong-A University, Korea.


Education

M , Dong-A University

Kyung Won Choi

 

Independent Director

Other

 

Seung Su Hong

 

Vice President

Other

 

 

Hong Seung Su has been Vice President of Hyundai Steel Company since 2007. Prior to the current position, Hong served as Managing Director and Assistant Managing Director of the Company. Previously, Hong was worked for HYUNDAI AMCO CO.,LTD. Hong received a Master's degree from Yonsei University, Korea.


Education

M , Yonsei University

Su Min Kim

 

Vice President

Other

 

 


Education

B , Inha University

Seong Yun Lee

 

Vice President

Other

 

 

 

Lee Seong Yun has been Vice President of Hyundai Steel Company since 2009. Lee previously served the Company as Managing Director and Assistant Managing Director. Lee received a Bachelor's degree from Inha University, Korea.


Education

B , Inha University

Gi Yin Ma

 

Vice President

Other

 

 

 

Ma Gi Yin has been Vice President of Hyundai Steel Company since 2009. Ma was Managing Director of Purchase at the Company and worked for HYUNDAI MOBIS CO.,LTD. Ma received a Bachelor's degree from Kyung Hee University, Korea.


Education

B , Kyung Hee University

Yun Sun Song

 

Vice President

Other

 

 

 

Song Yun Sun has been Vice President of Hyundai Steel Co. Song also serves as a Head-Sales Division of the Company. Song was previously Managing Director of the Company. Song received a Bachelor's degree from Hanyang University, Korea.


Education

B , Hanyang University

 

 

Significant Developments

 

 

 

 

Hyundai Steel Co., Ltd. Issues FY 2011 Revenue Outlook Above Analysts' Estimates

Jul 28, 2011


Hyundai Steel Co., Ltd. announced that it expects the revenue for the fiscal year 2011 to record KRW 15,700 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 15,348.76 billion for the fiscal year 2011.

Hyundai Steel Co., Ltd. Amends Amount of Contract with Korea's Public Procurement Service

Apr 22, 2011


Hyundai Steel Co., Ltd. announced that it has made an amendment to the contract with Korea's Public Procurement Service to supply the steel bars, initially announced on June 16, 2010. Now, the contract amount has been amended to KRW 427,477,402,500.

Hyundai Steel Co., Ltd. Amends Amount of Contract with Korea's Public Procurement Service

Apr 19, 2011


Hyundai Steel Co., Ltd. announced that it has made an amendment to the contract with Korea's Public Procurement Service to supply the steel bars, initially announced on June 16, 2010. Now, the contract amount has been amended to KRW 408,119,782,500.

Hyundai Steel Co., Ltd. to Invest KRW 3,255 Billion in New Facilities

Mar 18, 2011


Hyundai Steel Co., Ltd. announced that it will invest KRW 3,255 billion constructing new facilities, during the period of April 1, 2011 to September 27, 2013.

Hyundai Steel Co., Ltd. Declares Annual Cash Dividend for FY 2010

Feb 25, 2011


Hyundai Steel Co., Ltd. announced that it has declared an annual cash dividend of KRW 500 per share of common stock to shareholders of record on December 31, 2010, for the fiscal year 2010. The dividend rate of market price is 0.4% and the total amount of the cash dividend is KRW 42,059,697,500.

Hyundai Steel Co., Ltd. Issues FY 2011 Revenue Outlook Below Analysts' Estimates

Jan 28, 2011


Hyundai Steel Co., Ltd. announced that it expects its fiscal year 2011 revenue to record KRW 13,739.3 billion. According to Reuters Estimates, analysts on average are expecting the Company to report revenue of KRW 14,138.15 billion for fiscal year 2011.

 

 

 

KOREA, REPUBLIC OF : Hyundai Steel to start 100 mm steel plates production in 2012

                                                                                                                                                                                          

TendersInfo News
26 November 2011                                                                                                                                                         

 

[What follows is the full text of the article.]

Hyundai Steel announced that it is planning to start extra-thick steel plates with thickness of 100 mm production in next year, for 300 mm steel slabs which it established in the Q3 of 2011.

The new 100 mm steel plates will comprise plates produced by thermo-mechanical control process (TMCP) for use in building structures and high-strength plates for shipbuilding.

Additionally, Hyundai Steel expects to develop mass production of steel plates with thicknesses of over 100 mm in the future as it enhances its rolling technology.

Already, Hyundai Steel has received certification for its new slabs and is waiting for the receipt of certification for its new steel plates.

Copyright 2011 Euclid Infotech Pvt. Ltd., distributed by Contify.com


COPYRIGHT 2011 TendersInfo News

 

 

KOREA, REPUBLIC OF : Hyundai Steel to launch hot direct rolling facilities

                                                                                                                                                                                          

TendersInfo News
09 November 2011                                                                                                                                                         

 

[What follows is the full text of the article.]

South Korean steel producer Hyundai Steel plans the introduction of hot direct rolling (HDR) facilities at its Incheon Works and Pohang Works, as part of its efforts to upgrade its corporate competitiveness and bring down CO2 emissions.

HDR facilities can help save KRW 15,000/mt as compared to existing facilities. The steel producer has not yet fixed any concrete scheme for the introduction of HRD.

The company has conducted a technical seminar recently, at which about 20 executives working at its Incheon and Pohang plants negotiated the corporate plan for facility investment in 2012 and for the introduction of HRD facilities.

Copyright 2011 Euclid Infotech Pvt. Ltd., distributed by Contify.com


COPYRIGHT 2011 TendersInfo News

 

 

JAPAN,KOREA, REPUBLIC OF : Hyundai Steel to introduce new larger I-beams from October

                                                                                                                                                                                          

TendersInfo News
21 September 2011                                                                                                                                                        

 

[What follows is the full text of the article.]

South Korean steelmaker Hyundai Steel, dealing in manufacture and supply of I-beams of sizes in a range of 150 x 75 mm -300 x 150 mm, is likely to introduce its new larger I-beams from October. Width of the new I-beams would range between 350 to 450 mm.

Till now, South Korea's consumers of large-size I-beams were depending on Japan for supplies. They had to face lot of difficulties in getting the required products within time limits.

Considering this, Hyundai Steel is likely to have adequate domestic demand for its new products. Hyundai Steel focus on the development of the beams to be used in machinery structure and parts.

Copyright 2011 Euclid Infotech Pvt. Ltd., distributed by Contify.com


COPYRIGHT 2011 TendersInfo News

 

 

Hyundai Steel Company Files Patent Application for Stacker and Reclaimer System and Stacking Method for Iron and Steel Raw Material

                                                                                                                                                                                          

Indian Patent News
30 August 2011                                                                                                                                                               

 

[What follows is the full text of the article.]

New Delhi, Aug. 30 -- South Korea based Hyundai Steel Company filed patent application for stacker and reclaimer system and stacking method for iron and steel raw material. The inventors are Seo Weongyo, Yoon Kicheul, Koh Younghun and Kim Myoungsig.

Hyundai Steel Company filed the patent application on Dec. 8, 2009. The patent application number is 8008/DELNP/2009 A. The international classification number is B65G65/06.

According to the Controller General of Patents, Designs & Trade Marks, "A wall is disposed at the center portion in the linear house, a plurality of partitions are disposed at both sides of the wall to form a plurality of stacking spaces in the longitudinal direction of the wall, stacking units that stack iron and steel raw materials carried by a tripper car to the stacking spaces S are disposed at the upper portion of the wall, reclaimers that can move in the longitudinal direction of the linear house to reclaim iron and steel materials that are stacked in piles P at the stacking spaces S are disposed at both sides of the linear house, and discharging units that convey the iron and steel materials discharged from the reclaimers to the outside of the linear house are disposed under the reclaimers."

About the Company

Hyundai Steel Co., Ltd, or HSC (formerly known as Hyundai INI Steel, and before that, Inchon Iron & Steel Co., Ltd.), is a steel company headquartered in Incheon and Seoul, South Korea. Established in 1953, Hyundai Steel is the oldest/most experienced steel making company in Korea and is currently one of the major companies of the Hyundai-Kia Automotive Group.

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COPYRIGHT 2011 Indian Patent News

 

 

Hyundai Steel Company Files Patent Application for Method for Mixing Iron and Steel Raw Material

                                                                                                                                                                                          

Indian Patent News
30 August 2011                                                                                                                                                               

 

[What follows is the full text of the article.]

New Delhi, Aug. 30 -- South Korea based Hyundai Steel Company filed patent application for method for mixing iron and steel raw material. The inventors are Yoon Kicheul, Koh Younghun and Kim Myoungsig.

Hyundai Steel Company filed the patent application on Dec. 8, 2009. The patent application number is 8006/DELNP/2009 A. The international classification number is B65G65/28.

According to the Controller General of Patents, Designs & Trade Marks, "A method for mixing iron and steel raw material includes a process of stacking a raw material that forming a raw material pile by sequentially stacking a first raw material mixture block and a second raw material mixture block formed by discharging raw materials from a plurality of bins and mixing the raw materials and a process of mixing raw materials that separates and mixes a portion of the first raw material mixture block with a portion of the second raw material mixture block at a side of the raw material pile that is stacked by the process of stacking a raw material pile, in which a plurality of raw material piles are stacked in series by repeating the process of stacking a raw material pile such that a portion, where an angle of repose is created, of any one raw material pile covers a portion, where an angle of repose is created, of the next raw material pile."

About the Company

Hyundai Steel Co., Ltd, or HSC (formerly known as Hyundai INI Steel, and before that, Inchon Iron & Steel Co., Ltd.), is a steel company headquartered in Incheon and Seoul, South Korea. Established in 1953, Hyundai Steel is the oldest/most experienced steel making company in Korea and is currently one of the major companies of the Hyundai-Kia Automotive Group.

Copyright Contify.com


COPYRIGHT 2011 Indian Patent News

 

 

Hyundai Steel Company Files Patent Application for Stacker and Reclaimer for Iron and Steel Raw Material

                                                                                                                                                                                          

Indian Patent News
30 August 2011                                                                                                                                                               

 

[What follows is the full text of the article.]

New Delhi, Aug. 30 -- South Korea based Hyundai Steel Company filed patent application for stacker and reclaimer for iron and steel raw material. The inventors are Seo Weongyo, Yoon Kicheul, Koh Younghun and Kim Myoungsig.

Hyundai Steel Company filed the patent application on Dec. 8, 2009. The patent application number is 8007/DELNP/2009 A. The international classification number is B65G65/06.

According to the Controller General of Patents, Designs & Trade Marks, "Disclosed is a stacker and reclaimer for iron and steel raw material comprising: a rotary shaft, disposed at the center in a circular dome, having a space for stacking iron and steel raw materials; an inputting unit, disposed over the rotary shaft, for putting the iron and steel raw materials to the upper portion of the rotary shaft from the outside; a stacker, disposed rotatably about the rotary shaft under the inputting unit, that moves and stacks the iron and steel raw materials discharged from the inputting unit in a pile; a reclaimer, disposed rotatably about the center of the circular dome under the stacker, that reclaims the iron and steel raw materials stacked in a pile; and an discharging unit, disposed under the reclaimer, that conveys the iron and steel raw materials discharged from the reclaimer to the outside of the circular dome."

About the Company

Hyundai Steel Co., Ltd, or HSC (formerly known as Hyundai INI Steel, and before that, Inchon Iron & Steel Co., Ltd.), is a steel company headquartered in Incheon and Seoul, South Korea. Established in 1953, Hyundai Steel is the oldest/most experienced steel making company in Korea and is currently one of the major companies of the Hyundai-Kia Automotive Group.

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COPYRIGHT 2011 Indian Patent News

 

 

CHINA,KOREA, REPUBLIC OF : Hyundai Steel agreed to purchase equipment from China Erzhong

                                                                                                                                                                                          

TendersInfo News
16 August 2011                                                                                                                                                               

 

[What follows is the full text of the article.]

Hyundai Steel Co. has agreed for the purchase of thick plate rolling mills from China National Erzhong Group Co. for a project, which is undergoing for the expansion of its plant in Dangjin, South Chungcheong Province.

Hyundai said that the Chinese company will deliver 33 billion won ($30.5 million) worth of rolling mills, under the agreement. China Erzhong is state-owned and one of the country s largest heavy equipment manufacturers. It is based in Deyang, Sichuan Province.

With 3.26 trillion won of investment, Hyundai Steel is building the third blast furnace at its integrated steelworks in Dangjin on the country s west coast. The company said that the furnace will have the capability to produce 4 million metric tons of steel a year, when completed in 2013. The company also wants to enhance revenue through better cooperation with Hyundai Motor Group, its parent company, and other units within the group, it added.

Copyright 2011 Euclid Infotech Pvt. Ltd., distributed by Contify.com


COPYRIGHT 2011 TendersInfo News

 

 

GERMANY,KOREA, DEMOCRATIC PEOPLE'S REPUBLIC OF,KOREA, REPUBLIC OF : South Korea's Hyundai Steel to get heavy plate mills from German SMS Siemag

                                                                                                                                                                                          

TendersInfo News
01 July 2011                                                                                                                                                                   

 

[What follows is the full text of the article.]

The South Korea-based steel giant Hyundai Steel has placed an order with German plant maker SMS Siemag for the manufacturing of a new 4.3 m heavy plate mill in Dangjin, South Korea on June 28. The order includes the supply of the mechanical tools and the X-Pact automation system. Since the 5 m mill that went to stream at the end of 2009, this is the second most heavy plate mill which SMS Siemag will supply to Hyundai Steel.

The 4.3 m mill is designed with per annum production capacity of 1.5 million mt of heavy plate, having thicknesses of 6 m to 200 mm and in widths of up to 4,100 mm. The product range is mainly based on the required plates for shipbuilding and the construction industry. The plant is slated for commissioning in the middle of 2013.

However, Hyundai Steel has also assigned SMS Siemag with a contract for the enhancement of the 5 m heavy plate mill that was supplied in 2009. The mill expansion project undertaken by Hyundai Steel can raise its production from 1.5 million mt to 2.0 million mt per year and improve its product range. The upgradation job will be done under different phases during 2013.

These investments will make Hyundai Steel to raise its heavy plate capacity in Dangjin to an aggregate of 3.5 million mt per annum.

Copyright 2011 Euclid Infotech Pvt. Ltd., distributed by Contify.com


COPYRIGHT 2011 TendersInfo News

 

 

 

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Total Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

 

 

 

 

 

 

    Cost of Revenue

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

Cost of Revenue, Total

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

Gross Profit

1,343.8

786.0

1,624.9

1,215.0

1,034.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

304.7

231.9

331.6

352.1

278.2

    Labor & Related Expense

83.3

57.2

69.7

73.4

63.6

    Advertising Expense

11.9

10.2

10.7

12.6

11.0

Total Selling/General/Administrative Expenses

399.9

299.2

411.9

438.1

352.7

Research & Development

0.9

0.2

0.2

0.4

0.3

    Depreciation

8.2

7.4

8.8

5.7

5.4

    Amortization of Intangibles

0.1

0.4

1.0

1.5

0.7

Depreciation/Amortization

8.4

7.8

9.9

7.2

6.1

    Impairment-Assets Held for Use

-

-

-

-

1.9

    Impairment-Assets Held for Sale

-

-

5.1

-

0.2

Unusual Expense (Income)

-

-

5.1

-

2.1

Total Operating Expense

8,590.5

6,254.4

9,026.0

8,092.6

5,764.1

 

 

 

 

 

 

Operating Income

934.6

478.8

1,197.8

769.3

673.2

 

 

 

 

 

 

        Interest Expense - Non-Operating

-162.0

-108.2

-151.4

-148.1

-127.4

    Interest Expense, Net Non-Operating

-162.0

-108.2

-151.4

-148.1

-127.4

        Interest Income - Non-Operating

56.8

51.0

60.3

63.7

35.4

        Investment Income - Non-Operating

183.7

520.2

-258.5

52.0

77.6

    Interest/Investment Income - Non-Operating

240.4

571.2

-198.3

115.7

113.0

Interest Income (Expense) - Net Non-Operating Total

78.5

463.0

-349.7

-32.4

-14.3

Gain (Loss) on Sale of Assets

-17.6

-2.1

-13.6

1.8

65.5

    Other Non-Operating Income (Expense)

17.5

20.1

15.3

9.4

-27.5

Other, Net

17.5

20.1

15.3

9.4

-27.5

Income Before Tax

1,013.0

959.8

849.8

748.1

696.9

 

 

 

 

 

 

Total Income Tax

120.3

43.3

132.6

175.5

180.8

Income After Tax

892.7

916.6

717.2

572.5

516.1

 

 

 

 

 

 

    Minority Interest

-15.7

-14.0

30.2

-13.2

-20.3

Net Income Before Extraord Items

877.1

902.5

747.4

559.4

495.8

Net Income

877.1

902.5

747.4

559.4

495.8

 

 

 

 

 

 

    Preferred Dividends

-

-4.5

-3.7

-2.8

-2.5

Total Adjustments to Net Income

-

-4.5

-3.7

-2.8

-2.5

Income Available to Common Excl Extraord Items

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

83.9

83.5

83.5

83.5

81.8

Basic EPS Excl Extraord Items

10.45

10.75

8.90

6.66

6.03

Basic/Primary EPS Incl Extraord Items

10.45

10.75

8.90

6.66

6.03

Dilution Adjustment

0.0

0.0

3.7

2.8

2.5

Diluted Net Income

877.1

898.1

747.4

559.4

495.8

Diluted Weighted Average Shares

83.9

83.5

83.9

84.1

84.2

Diluted EPS Excl Extraord Items

10.45

10.75

8.90

6.65

5.89

Diluted EPS Incl Extraord Items

10.45

10.75

8.90

6.65

5.89

Dividends per Share - Common Stock Primary Issue

0.43

0.39

0.45

0.54

0.52

Gross Dividends - Common Stock

36.4

32.7

38.0

45.0

44.0

Interest Expense, Supplemental

162.0

108.2

151.4

148.1

127.4

Interest Capitalized, Supplemental

-149.8

-146.4

-95.8

-

-

Depreciation, Supplemental

365.7

221.6

259.1

291.4

235.3

Total Special Items

17.6

2.1

18.7

-2.0

-63.5

Normalized Income Before Tax

1,030.6

961.9

868.5

746.1

633.4

 

 

 

 

 

 

Effect of Special Items on Income Taxes

2.1

0.1

2.9

-0.4

-16.5

Inc Tax Ex Impact of Sp Items

122.4

43.4

135.5

175.1

164.3

Normalized Income After Tax

908.3

918.6

733.0

571.0

469.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

892.6

900.1

759.5

555.0

446.4

 

 

 

 

 

 

Basic Normalized EPS

10.64

10.77

9.09

6.64

5.46

Diluted Normalized EPS

10.64

10.77

9.09

6.63

5.33

Amort of Acquisition Costs, Supplemental

-

-

-

-0.2

-

Amort of Intangibles, Supplemental

1.1

1.1

1.7

2.3

1.5

Rental Expenses

2.3

2.0

2.4

3.9

4.7

Advertising Expense, Supplemental

11.9

10.2

10.7

12.6

11.0

Research & Development Exp, Supplemental

0.9

0.2

0.2

0.4

0.3

Normalized EBIT

934.6

478.8

1,202.9

769.3

675.3

Normalized EBITDA

1,301.5

701.5

1,463.7

1,062.8

912.1

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

924.8

738.0

796.4

568.0

182.1

    Short Term Investments

406.1

990.8

108.1

447.9

328.9

Cash and Short Term Investments

1,330.9

1,728.8

904.5

1,015.9

511.0

        Accounts Receivable - Trade, Gross

955.7

826.4

1,194.6

1,325.8

1,087.4

        Provision for Doubtful Accounts

-1.4

-6.1

-5.5

-7.4

-9.1

    Trade Accounts Receivable - Net

961.6

837.4

1,194.6

1,330.7

1,081.7

    Other Receivables

10.1

7.5

10.2

7.0

37.3

Total Receivables, Net

971.8

845.0

1,204.8

1,337.7

1,119.0

    Inventories - Finished Goods

837.1

485.0

644.4

651.7

401.2

    Inventories - Work In Progress

422.8

212.9

268.7

284.0

231.7

    Inventories - Raw Materials

566.2

407.4

349.5

278.1

172.4

    Inventories - Other

306.7

275.8

195.1

193.8

177.8

Total Inventory

2,132.8

1,381.0

1,457.6

1,407.7

983.0

Prepaid Expenses

32.3

38.4

15.6

20.7

36.1

    Deferred Income Tax - Current Asset

50.8

48.3

5.3

10.3

15.9

    Other Current Assets

1.6

3.1

0.2

0.3

1.5

Other Current Assets, Total

52.4

51.4

5.5

10.6

17.4

Total Current Assets

4,520.2

4,044.5

3,587.9

3,792.6

2,666.5

 

 

 

 

 

 

        Buildings

2,058.5

886.6

723.2

939.2

813.4

        Land/Improvements

2,080.4

1,506.4

646.5

848.7

830.9

        Machinery/Equipment

5,820.8

3,232.9

2,909.3

3,721.7

3,465.0

        Construction in Progress

3,317.1

5,295.5

2,268.9

1,064.1

617.5

        Other Property/Plant/Equipment

4.0

3.7

3.3

4.4

4.2

    Property/Plant/Equipment - Gross

13,280.8

10,925.0

6,551.1

6,578.2

5,731.0

    Accumulated Depreciation

-2,636.4

-2,211.7

-1,831.0

-2,239.0

-1,978.9

Property/Plant/Equipment - Net

10,644.4

8,713.3

4,720.1

4,339.3

3,752.1

Intangibles, Net

66.7

62.8

57.9

74.8

16.3

    LT Investment - Affiliate Companies

567.5

422.8

1,080.6

1,340.6

1,279.7

    LT Investments - Other

615.0

446.9

178.6

286.3

192.8

Long Term Investments

1,182.6

869.7

1,259.2

1,626.9

1,472.4

Note Receivable - Long Term

34.6

30.1

16.1

20.0

17.9

    Deferred Income Tax - Long Term Asset

-

-

-

22.7

-

    Other Long Term Assets

64.8

64.6

48.6

42.3

57.2

Other Long Term Assets, Total

64.8

64.6

48.6

65.1

57.2

Total Assets

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

Accounts Payable

952.2

625.2

698.8

823.7

681.2

Accrued Expenses

118.6

92.8

67.4

83.7

72.1

Notes Payable/Short Term Debt

2,086.2

908.1

745.2

905.1

671.9

Current Portion - Long Term Debt/Capital Leases

1,051.8

588.3

87.7

216.5

340.8

    Customer Advances

30.3

37.3

37.0

41.2

23.9

    Security Deposits

0.3

0.3

0.2

0.1

0.2

    Income Taxes Payable

79.1

204.3

155.0

132.3

113.5

    Other Payables

669.1

1,125.7

574.6

441.7

336.4

    Deferred Income Tax - Current Liability

-

-

-

2.0

0.0

    Other Current Liabilities

18.3

18.0

34.4

44.9

24.1

Other Current liabilities, Total

797.2

1,385.7

801.2

662.2

498.0

Total Current Liabilities

5,006.0

3,600.2

2,400.3

2,691.2

2,264.1

 

 

 

 

 

 

    Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

    Capital Lease Obligations

-

-

-

-

0.0

Total Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

Total Debt

7,425.5

5,651.7

3,958.9

3,439.0

2,443.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

195.6

162.8

162.6

315.0

227.0

Deferred Income Tax

195.6

162.8

162.6

315.0

227.0

Minority Interest

133.8

112.8

83.9

150.7

139.5

    Reserves

0.1

0.1

0.1

0.2

17.5

    Pension Benefits - Underfunded

53.7

74.5

80.2

99.1

113.2

    Other Long Term Liabilities

16.6

6.0

2.6

19.2

27.3

Other Liabilities, Total

70.5

80.6

82.9

118.6

158.0

Total Liabilities

9,693.4

8,111.7

5,855.6

5,593.0

4,219.1

 

 

 

 

 

 

    Preferred Stock - Non Redeemable

-

1.8

1.7

2.2

2.2

Preferred Stock - Non Redeemable, Net

-

1.8

1.7

2.2

2.2

    Common Stock

375.9

364.5

337.0

453.5

456.4

Common Stock

375.9

364.5

337.0

453.5

456.4

Additional Paid-In Capital

627.7

596.0

551.0

740.1

751.2

Retained Earnings (Accumulated Deficit)

5,019.3

4,058.3

2,873.9

3,047.9

2,557.2

Treasury Stock - Common

-17.6

-12.6

-11.6

-15.6

-

Unrealized Gain (Loss)

809.3

659.1

74.9

95.3

-

    Translation Adjustment

5.2

6.1

7.3

-1.1

-

    Other Equity

-

-

-

3.3

-3.9

Other Equity, Total

5.2

6.1

7.3

2.2

-3.9

Total Equity

6,819.8

5,673.3

3,834.1

4,325.6

3,763.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

84.1

83.5

83.5

83.5

83.5

Total Common Shares Outstanding

84.1

83.5

83.5

83.5

83.5

Treasury Shares - Common Stock Primary Issue

1.2

1.4

1.4

1.4

1.4

    Shares Outstanding - Preferred Stock Primary Issue

0.0

0.4

0.4

0.4

0.4

Total Preferred Stock Outstanding

0.0

0.4

0.4

0.4

0.4

Treasury Shares - Preferred Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

8,268

7,678

6,686

6,078

5,721

Number of Common Shareholders

108,090

-

120,413

88,702

30,275

Deferred Revenue - Current

30.3

37.3

37.0

41.2

23.9

Total Long Term Debt, Supplemental

2,886.8

2,983.6

1,384.8

789.9

233.2

Long Term Debt Maturing within 1 Year

342.9

588.5

71.8

224.2

48.9

Long Term Debt Maturing in Year 2

512.2

304.1

96.0

96.6

62.2

Long Term Debt Maturing in Year 3

708.7

432.9

197.5

129.2

44.3

Long Term Debt Maturing in Year 4

446.1

548.2

226.8

118.6

44.1

Long Term Debt Maturing in Year 5

410.0

374.1

-

-

-

Long Term Debt Maturing in 2-3 Years

1,220.9

737.0

293.6

225.8

106.5

Long Term Debt Maturing in 4-5 Years

856.2

922.3

226.8

118.6

44.1

Long Term Debt Matur. in Year 6 & Beyond

466.8

735.8

792.7

221.3

33.6

Total Capital Leases, Supplemental

-

-

-

-

33.1

Capital Lease Payments Due in Year 1

-

-

-

-

33.1

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Reclassified Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

892.7

916.6

717.2

572.5

516.1

    Depreciation

365.7

221.6

259.1

291.4

235.3

Depreciation/Depletion

365.7

221.6

259.1

291.4

235.3

    Amortization of Intangibles

1.1

1.1

1.7

2.3

1.5

Amortization

1.1

1.1

1.7

2.3

1.5

Deferred Taxes

-15.3

-200.8

-55.1

45.4

5.2

    Unusual Items

2.5

2.8

2.6

-1.9

-42.2

    Equity in Net Earnings (Loss)

-115.1

-426.3

-53.1

-60.8

-47.1

    Other Non-Cash Items

12.3

-34.3

216.3

86.6

61.7

Non-Cash Items

-100.3

-457.9

165.9

23.9

-27.5

    Accounts Receivable

-226.0

184.6

-240.2

-226.4

-54.8

    Inventories

-703.7

186.2

-476.5

-440.5

43.8

    Prepaid Expenses

6.3

-19.7

-0.1

15.5

-17.5

    Other Assets

-1.3

0.0

0.4

0.2

0.0

    Accounts Payable

-211.4

335.9

361.6

232.0

36.6

    Accrued Expenses

23.0

18.2

5.8

12.1

4.4

    Taxes Payable

-128.1

33.5

64.9

19.7

58.9

    Other Liabilities

-83.0

-63.9

-33.4

-42.2

-21.6

Changes in Working Capital

-1,324.2

674.8

-317.5

-429.6

49.7

Cash from Operating Activities

-180.3

1,155.4

771.2

506.0

780.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-1,896.9

-2,861.8

-1,992.4

-959.8

-810.6

    Purchase/Acquisition of Intangibles

-0.6

-2.5

-4.0

-0.7

-0.3

Capital Expenditures

-1,897.5

-2,864.3

-1,996.4

-960.5

-810.9

    Sale of Fixed Assets

2.0

15.2

12.0

16.7

115.2

    Sale/Maturity of Investment

2,279.0

1,389.1

858.1

778.9

22.5

    Purchase of Investments

-1,674.5

-1,113.3

-628.2

-908.8

-260.8

    Sale of Intangible Assets

-

1.4

-

0.0

0.2

    Other Investing Cash Flow

-4.7

-11.9

16.7

16.1

-33.0

Other Investing Cash Flow Items, Total

601.8

280.5

258.6

-97.0

-155.9

Cash from Investing Activities

-1,295.7

-2,583.8

-1,737.8

-1,057.4

-966.8

 

 

 

 

 

 

    Other Financing Cash Flow

-107.5

-76.9

-42.1

-91.8

-55.3

Financing Cash Flow Items

-107.5

-76.9

-42.1

-91.8

-55.3

Total Cash Dividends Paid

-36.3

-32.8

-40.3

-47.5

-41.9

        Sale/Issuance of Common

16.3

-

0.0

3.9

13.6

        Repurchase/Retirement of Common

-

-

-4.2

-12.5

-5.9

    Common Stock, Net

16.3

-

-4.2

-8.5

7.7

    Options Exercised

-

-

1.1

-

1.3

    Warrants Converted

-

-

-

-

-1.7

Issuance (Retirement) of Stock, Net

16.3

-

-3.1

-8.5

7.2

        Short Term Debt Issued

3,239.4

1,509.7

1,988.8

1,922.1

370.1

        Short Term Debt Reduction

-2,069.1

-1,374.4

-2,021.6

-1,693.0

-490.3

    Short Term Debt, Net

1,170.3

135.4

-32.8

229.2

-120.2

        Long Term Debt Issued

1,082.3

1,306.3

1,660.8

1,135.9

579.3

        Long Term Debt Reduction

-484.8

-15.7

-147.4

-275.8

-337.8

    Long Term Debt, Net

597.5

1,290.6

1,513.3

860.1

241.5

Issuance (Retirement) of Debt, Net

1,767.8

1,426.0

1,480.5

1,089.3

121.3

Cash from Financing Activities

1,640.3

1,316.3

1,395.0

941.4

31.3

 

 

 

 

 

 

Foreign Exchange Effects

0.2

-0.6

-

-

-

Net Change in Cash

164.5

-112.6

428.4

389.9

-155.2

 

 

 

 

 

 

Net Cash - Beginning Balance

743.2

785.9

483.1

182.3

332.6

Net Cash - Ending Balance

907.7

673.2

911.5

572.2

177.4

 

 

 

 

Annual Income Statement

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Total Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

 

 

 

 

 

 

    Cost of Revenue

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

    Salaries

59.6

40.4

50.2

51.2

44.9

    Retirement Allowance

9.1

5.6

7.0

9.5

9.8

    Employee Benefits

14.7

11.2

12.4

12.6

8.9

    Travel Expenses

4.6

3.7

4.0

4.3

3.6

    Communication Exp.

1.3

1.1

0.9

1.0

1.0

    Utility Expenses

0.4

0.4

0.5

0.4

0.1

    Consumable Expense

1.0

0.7

0.6

0.9

1.9

    Printing Expense

1.1

1.0

1.1

1.1

1.2

    Expenses for Samples

0.0

0.0

0.0

0.1

0.0

    Amort. of Bad Debts

-

0.2

1.1

3.0

1.1

    Taxes and Dues

3.3

3.1

3.3

3.3

2.7

    Rental Expenses

2.3

2.0

2.4

3.9

4.7

    Commissions Paid

30.0

21.2

26.0

29.7

29.6

    Education & Training

1.8

0.8

1.7

2.3

1.3

    Depreciation Expense

8.2

7.4

8.8

5.7

5.4

    Amort of Intangibles

0.1

0.4

1.0

1.5

0.7

    Repair & Maintenance

2.0

1.0

1.3

2.1

1.0

    Vehicles Expenses

1.2

0.9

1.0

1.0

1.0

    Entertainment

1.5

1.1

1.4

1.4

1.2

    Advertising Expenses

11.9

10.2

10.7

12.6

11.0

    Activity Expenses

0.7

0.6

0.6

0.7

0.6

    Shipping/Handling

124.2

96.2

123.8

147.0

123.0

    Other Exporting Exp

124.9

93.9

157.0

146.0

100.9

    Insurance Expenses

0.1

0.1

0.2

0.2

0.2

    Oversea Activity Exp

3.7

3.7

4.5

3.1

1.4

    Outside Contract Fee

0.5

0.2

0.1

0.2

0.4

    Research & Develop.

0.9

0.2

0.2

0.4

0.3

    Brancxh Office Maintenance

-

-

-

-

0.2

    Miscellaneous Operating Expense

-

0.2

0.2

0.3

0.3

    Loss-Reduct. of Sec. Available-Sale

-

-

5.1

-

-

    Loss-Reduction in inventory

-

-

-

-

0.6

    L-Reduce Investment Assets

-

-

-

-

0.2

    Loss-Reduction of Tangible Assets

-

-

-

-

1.9

Total Operating Expense

8,590.5

6,254.4

9,026.0

8,092.6

5,764.1

 

 

 

 

 

 

    Interest Income

56.8

51.0

60.3

63.7

35.4

    Dividend Income

7.9

0.2

3.7

0.4

0.5

    Rental Income

0.8

0.9

0.9

0.4

0.5

    G-For Curr Transactn

87.1

150.6

124.7

33.5

47.7

    G-For Exch Translatn

86.3

66.5

36.6

2.5

20.1

    Gain-Valuation of Currency Swap

-

-

21.4

-

-

    G-disp Secs avail. for Sale

0.0

0.4

-

0.1

1.4

    Gain-Disposal of Equity Method Sec.

-

363.1

0.0

-

-

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

-

5.9

-

    Gain Disp Inv Asset

-

-

-

-

0.0

    Gain Disposal Assets

1.1

7.3

5.0

9.5

75.1

    Reversal of Allowance for Doubtful Accou

4.7

-

-

1.2

0.0

    G-Currency Fut. Trad

-

-

-

-

1.0

    Gain-Currency Forwards Transactions

-

-

0.1

-

-

    G-Value Stock Options

-

-

-

-

0.0

    Gain-Derivatives Transactions

13.5

6.7

2.9

-

-

    Gain-Valuation of Derivatives

-

-

4.1

2.0

0.7

    Recovery of Stock Compensation

-

-

-

-

0.0

    G-Debt Adjustment

-

-

-

1.3

0.0

    Other Non-Op. Income

24.1

29.7

22.5

17.7

11.0

    Gain-Disposal of Fixed Assets

-

0.2

-

-

-

    Interest Expenses

-162.0

-108.2

-148.4

-143.7

-122.3

    Loss-Amortization of PV Discount

-

-

-3.0

-4.4

-5.1

    L-For Curr Transactn

-73.9

-120.7

-328.9

-29.8

-16.5

    L-For Exch Translatn

-47.0

-1.3

-172.0

-20.3

-1.2

    Loss-Valuation of Currency Swap

-1.9

-6.7

0.0

-

-

    L-Trade Rcv Disposal

-17.5

-8.6

-4.8

-2.9

-4.6

    Loss-Disposal of inventory

0.0

-

0.0

-

-

    L-Disp Secs for Sale

-0.4

-1.8

-0.4

-0.5

-3.5

    L-Inventory Scraping

-

-

-

-

0.0

    L-Currency Fut. Trad

-

-

-

-

-0.4

    Loss-Currency Forwards Transaction

-

-

-1.3

-

-

    L-Currency Option Trading

-

-

-

-

0.0

    L-Trade Stock Options

-

-

-

-

-18.4

    Losses on Derivative Transactions

-3.2

-

-1.3

-

0.0

    L-Inv Asset Disposal

-

-

-

-0.1

0.0

    L-Tang Asset Dispos.

-1.2

-0.6

-13.8

-4.8

-4.9

    Donations Paid

-5.0

-4.1

-4.3

-4.7

-3.3

    Prov-Contingent Liab

-

-

-

-

-2.6

    Loss-Prior Period Error Correction

-

-

-

-

-23.5

    Other Non-Op Expense

-7.0

-6.4

-3.9

-6.6

-9.5

    Loss-Revaluation of Tangible Assets

-

-0.5

-

-

-

    Loss-Disposal of Other LT Assets

-

0.0

-

-

-

    G-Equity Method Valu

115.1

63.9

54.3

60.8

47.4

    G-Equity Method

-

-

-

-

0.0

    Loss under Equity Method

-

-0.7

-1.2

-

-0.3

    L-Disp Securties under Equity Method

-

-

-1.0

-2.4

-0.8

Net Income Before Taxes

1,013.0

959.8

849.8

748.1

696.9

 

 

 

 

 

 

Provision for Income Taxes

120.3

43.3

132.6

175.5

180.8

Net Income After Taxes

892.7

916.6

717.2

572.5

516.1

 

 

 

 

 

 

    Gain Minority Int.

-15.7

-14.0

30.2

-13.2

-20.3

Net Income Before Extra. Items

877.1

902.5

747.4

559.4

495.8

Net Income

877.1

902.5

747.4

559.4

495.8

 

 

 

 

 

 

    Preferred Dividends

-

-4.5

-3.7

-2.8

-2.5

Income Available to Com Excl ExtraOrd

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Basic Weighted Average Shares

83.9

83.5

83.5

83.5

81.8

Basic EPS Excluding ExtraOrdinary Items

10.45

10.75

8.90

6.66

6.03

Basic EPS Including ExtraOrdinary Item

10.45

10.75

8.90

6.66

6.03

Dilution Adjustment

0.0

0.0

3.7

2.8

2.5

Diluted Net Income

877.1

898.1

747.4

559.4

495.8

Diluted Weighted Average Shares

83.9

83.5

83.9

84.1

84.2

Diluted EPS Excluding ExtraOrd Items

10.45

10.75

8.90

6.65

5.89

Diluted EPS Including ExtraOrd Items

10.45

10.75

8.90

6.65

5.89

DPS-Common Stock

0.43

0.39

0.45

0.54

0.52

Gross Dividends - Common Stock

36.4

32.7

38.0

45.0

44.0

Normalized Income Before Taxes

1,030.6

961.9

868.5

746.1

633.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

122.4

43.4

135.5

175.1

164.3

Normalized Income After Taxes

908.3

918.6

733.0

571.0

469.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

892.6

900.1

759.5

555.0

446.4

 

 

 

 

 

 

Basic Normalized EPS

10.64

10.77

9.09

6.64

5.46

Diluted Normalized EPS

10.64

10.77

9.09

6.63

5.33

R&D Expense, Supplemental

0.9

0.2

0.2

0.4

0.3

Advertising Expense

11.9

10.2

10.7

12.6

11.0

Interest Expense, Supplemental

162.0

108.2

151.4

148.1

127.4

Capitalized Interest

-149.8

-146.4

-95.8

-

-

Amort of Acquisition Costs

-

-

-

-0.2

-

Amort of Intangibles, Supplemental

1.1

1.1

1.7

2.3

1.5

Rental Expense, Supplemental

2.3

2.0

2.4

3.9

4.7

Depreciation, Supplemental

365.7

221.6

259.1

291.4

235.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

924.8

738.2

796.4

568.0

182.1

    Cash & Equivalents-Government Subsidy

0.0

-0.2

-

-

-

    ST Finl Assets

406.1

990.4

108.1

438.0

253.6

    Secs avail-Sale

-

0.4

-

9.8

75.3

    Trade Rcvb Gross

955.7

826.4

1,194.6

1,325.8

1,087.4

    Doubtful Account

-1.4

-6.1

-5.5

-7.4

-9.1

    ST Loans

3.9

2.9

3.2

3.2

3.2

    Other Receivables

6.3

4.6

6.9

3.8

34.1

    Accrued Income

7.3

17.1

5.5

12.3

3.5

    Advance Payments

14.0

3.1

1.8

0.5

7.9

    Prepaid Expenses

0.1

0.1

0.3

0.2

0.2

    Prepaid VAT

32.2

38.2

15.3

20.5

35.9

    Prepaid Taxes

0.8

0.2

0.1

0.2

0.5

    Security Deposit, Current

0.0

0.1

0.1

0.1

1.0

    Pre-Products

-

-

-

-

3.7

    Stock Option

-

-

-

-

0.0

    Dfrd Taxes - Current Assets

50.8

48.3

5.3

10.3

15.9

    Other Quick Assets

0.5

0.0

0.0

-

0.0

    Derivatives

0.2

2.8

-

-

-

    Merchandise

4.9

1.6

4.8

5.0

3.3

    Finished Goods

379.1

213.5

358.5

361.6

285.5

    Residual Products

2.5

-

-

-

-

    Semi-finish Good

249.6

114.2

182.4

159.1

110.4

    Work in Progress

173.2

98.7

86.3

125.0

117.6

    Raw Materials

566.2

407.4

349.5

278.1

172.4

    Stored Goods

292.7

272.6

193.3

193.3

169.9

    Raw Materials in Transit

450.6

269.9

281.0

285.0

112.4

Total Current Assets

4,520.2

4,044.5

3,587.9

3,792.6

2,666.5

 

 

 

 

 

 

    LT Finl Assets

0.0

0.1

0.1

0.1

0.0

    Secs avail-Sale

606.6

438.8

171.1

276.6

181.9

    Currency Futures, LT Assets

-

-

3.6

-

-

    Currency Swap, LT Assets

-

-

15.1

-

-

    Secs Eqty Method

567.5

422.8

1,080.6

1,340.6

1,279.7

    LT Loan

34.6

29.7

14.9

19.7

17.7

    LT Trade Rcvbls.

-

0.3

1.2

0.3

0.2

    LT Guarantee Dep

54.4

47.4

29.9

40.1

56.6

    Enrollment Right

34.1

32.6

28.9

34.4

12.7

    Derivatives-Debit

10.4

17.2

-

2.2

0.5

    Other Inv Assets

8.4

8.0

7.4

9.5

10.9

    LA Deferred Tax

-

-

-

22.7

-

    Land

2,080.4

1,506.4

646.5

848.7

830.9

    Buildings

1,349.2

605.5

538.8

700.7

659.2

    Buildings-Reduction

-1.0

-1.0

-0.9

-1.3

-1.4

    Buildings Depre.

-256.4

-208.6

-167.2

-189.9

-156.3

    Structures

710.5

282.2

185.4

240.3

156.1

    Structures-Reduction

-0.1

-0.1

-0.1

-0.4

-0.6

    Structure Depre.

-83.2

-59.1

-45.4

-50.5

-39.9

    Machinery/Equip.

5,596.4

3,078.3

2,787.6

3,552.6

3,331.0

    Machinery/Equip. - Reduction

-

-

-

-

0.0

    Mach/Equip Depre

-2,177.2

-1,850.1

-1,546.0

-1,892.3

-1,687.9

    Transport Equip.

43.1

28.7

12.1

14.2

11.1

    Transport Deprec

-11.6

-10.0

-7.0

-7.4

-5.4

    Tools/Equip./Fix

181.3

125.9

109.6

155.0

123.0

    Tool/Equip Depr.

-105.2

-81.4

-63.3

-96.3

-87.3

    Other Tangibles

4.0

3.7

3.3

4.4

4.2

    Depr.-Other

-3.0

-2.5

-2.1

-2.5

-2.0

    Construc in Prog

3,317.1

5,295.5

2,268.9

1,064.1

643.3

    Goc't Subsidy-Construction in Progress

-

-

-

-

-25.8

    Mach.In Transit

-

-

-

-

0.0

    Software

0.2

0.3

0.6

1.3

1.8

    Exclus. Road Rgt

0.0

0.0

0.0

0.0

0.0

    Usage Right-Docking Facilities

49.7

49.7

27.9

38.3

0.1

    Usage Right-Docking Facilities-Governmen

-20.3

-20.3

-

-

-

    Land Use Rights

0.2

0.2

0.2

0.2

0.2

    Indust.-Patent

0.1

0.1

0.1

0.2

0.3

    Donated Asset

-

0.0

0.0

0.0

0.0

    Other Intangible Assets

2.6

0.2

0.2

0.4

1.1

Total Assets

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    Trade Payables

952.2

625.3

698.8

823.7

681.2

    Discount for Present Value for Trade Pay

-

-0.1

-

-

-

    Accounts Payable

669.1

1,125.7

574.6

441.7

336.4

    ST Borrowings

2,086.2

908.1

745.2

905.1

671.9

    Advance for Customers

30.3

37.3

37.0

41.2

23.9

    Deposit Withheld

18.1

15.3

26.4

37.1

24.1

    Accrued Expenses

118.6

92.8

67.4

83.7

72.1

    Inc. Taxes Pay.

79.1

204.3

155.0

132.3

113.5

    Current Bonds

709.3

483.8

15.9

171.5

256.5

    Discount on Debentures Issuance, Current

-0.4

-0.2

-

-

-

    Current LT Liab.

342.9

104.7

71.8

44.9

84.4

    Currency Swap, Current

-

0.6

0.0

-

-

    CL Guarnt Depos.

0.3

0.3

0.2

0.1

0.2

    Deferred Tax Credit

-

-

-

2.0

0.0

    Current Portion of Liabilities

0.2

2.1

8.0

7.8

-

    Discount for Present Value for Current P

-

0.0

-

-

-

Total Current Liabilities

5,006.0

3,600.2

2,400.3

2,691.2

2,264.1

 

 

 

 

 

 

    Bonds

1,748.3

1,764.7

1,812.9

1,751.8

1,246.4

    Discount on Issuance of Debentures

-4.7

-4.6

-

-

-

    Exchangable Bond

-

-

-

-

0.0

    LT Borrowings

2,543.9

2,395.1

1,313.0

565.7

167.3

    Foreign Curr LTD

-

-

-

-

16.9

    Lease Payable

-

-

-

-

0.0

Total Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

 

 

 

 

 

 

    Retire Reserve

256.0

234.4

80.2

99.1

113.2

    Deposit-Retirement Insurance

-199.6

-156.8

-

-

-

    Transfer to National Pension Fund

-2.7

-3.1

-

-

-

    LT Trade Payable

-

-

-

11.1

21.0

    LT Gen Acc't Pay

-

-

-

4.8

2.3

    LT Accounts Pay

1.0

1.1

1.1

1.7

1.8

    LT Secs Deposits

1.0

1.0

1.0

1.7

2.0

    LT Deposit Withheld

0.2

0.3

0.1

-

-

    Interest Rate Swap, LT Liabilities

14.5

3.6

0.4

-

-

    Deferred Tax-Cr.

195.6

162.8

162.6

315.0

227.0

    Reserve-Contingency Loss

0.1

0.1

0.1

0.2

-

    Reserve-Accident Liab.

-

-

-

-

17.5

    Minority Interest

133.8

112.8

83.9

150.7

139.5

    LL Int Rate Swap

-

-

-

-

0.0

Total Liabilities

9,693.4

8,111.7

5,855.6

5,593.0

4,219.1

 

 

 

 

 

 

    Common Stock

375.9

364.5

337.0

453.5

456.4

    Reserve for Assets Revaluation

367.8

358.5

331.4

446.0

-

    Stock Options

-

-

-

0.8

-

    Paid-in Capital in Excess of Par

105.9

103.2

95.4

128.4

-

    Legal Reserve

37.7

33.2

30.0

36.5

-

    Voluntary Reserve

4,089.3

3,039.3

2,196.1

2,452.9

-

    Gain-Revaluation of Tangible Assets

722.3

596.5

-

-

-

    Gain-Valuation of Derivatives

0.2

4.4

-

-

-

    Preferred Stock

-

1.8

1.7

2.2

2.2

    Capital Surplus

153.9

134.3

124.1

164.9

751.2

    Retained Earning Carried Forward

892.3

985.9

647.8

558.5

2,557.2

    Capital Adjustmt

-

-

-

-

-3.9

    Treasury Stock

-17.6

-12.6

-11.6

-15.6

-

    Overseas Business Translation Credit

5.2

6.1

7.3

-1.1

-

    Discount Stk Iss

-

-

-

3.3

-

    Loss-Valuation of Derivatives

-12.5

-4.6

-0.2

-

-

    Loss-Valu. of Sec. Available for Sale

0.0

0.0

-2.8

-

-

    Gain-Valu. of Sec. Available for Sale

69.4

54.5

32.7

71.7

-

    Capital Change, Equity Method

30.0

8.7

45.2

23.7

-

    Capital Change, Equity Method (Loss)

-0.1

-0.3

-0.1

-0.1

-

Total Equity

6,819.8

5,673.3

3,834.1

4,325.6

3,763.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    S/O-Common Stock

84.1

83.5

83.5

83.5

83.5

Total Common Shares Outstanding

84.1

83.5

83.5

83.5

83.5

T/S-Common Stock

1.2

1.4

1.4

1.4

1.4

    S/O-Preferred Stock

0.0

0.4

0.4

0.4

0.4

Total Preferred Shares Outstanding

0.0

0.4

0.4

0.4

0.4

T/S-Preferred Stock

0.0

0.0

0.0

0.0

0.0

Deferred Revenue, Current

30.3

37.3

37.0

41.2

23.9

Full-Time Employees

8,268

7,678

6,686

6,078

5,721

Number of Common Shareholders

108,090

-

120,413

88,702

30,275

LT Debt Maturing within 1 Yr

342.9

588.5

71.8

224.2

48.9

LT Debt Maturing within 2 Yr

512.2

304.1

96.0

96.6

62.2

LT Debt Maturing within 3 Yr

708.7

432.9

197.5

129.2

44.3

LT Debt Maturing within 4 Yr

446.1

548.2

226.8

118.6

44.1

LT Debt Maturing within 5 Yr

410.0

374.1

-

-

-

LT Debt Remaining Maturities

466.8

735.8

792.7

221.3

33.6

Total Long Term Debt, Supplemental

2,886.8

2,983.6

1,384.8

789.9

233.2

LT Lease Maturing within 1 Yr

-

-

-

-

33.1

Total Capital Leases

-

-

-

-

33.1

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Reclassified Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

892.7

916.6

717.2

572.5

516.1

    Depreciation

365.7

221.6

259.1

291.4

235.3

    Amort. Intangible

1.1

1.1

1.7

2.3

1.5

    Amort-Bad Debt Exp.

-

0.2

1.1

3.0

1.1

    Accrued Interest Expense

2.8

3.0

1.7

1.5

2.6

    L-Inv.Asset Disposal

-

-

-

0.1

0.0

    L-Tang. Assets Disp.

1.2

0.6

13.8

4.8

4.9

    Loss-Reduction of Tangible Assets

-

-

-

-

1.9

    L-Disp Secs for Sale

0.4

1.8

0.4

0.5

3.5

    Loss-Disposal of Sec under Equity Method

-

-

1.0

2.4

0.8

    Loss under Equity Method

-

0.7

1.2

-

0.3

    L-Inventory Scrap.

0.2

1.1

6.7

6.2

0.0

    Loss-Valuation of Currency Swap

1.9

6.7

0.0

-

-

    Loss-Reduct. of Sec. Available-for-Sale

-

-

5.1

-

-

    L-Reduce Inventory

-

-

-

-

0.6

    L-Reduce Investment Assets

-

-

-

-

0.2

    Amort Discount Value

-

-

3.0

4.4

5.1

    Retirement Allowance

55.1

38.5

47.1

59.7

51.4

    L-Trade Rcvbl. Disp.

-

-

4.8

2.9

4.6

    L-For Curr Transactn

3.2

4.8

26.4

0.8

0.1

    Loss-Foreign Currency Translation

47.0

1.2

167.1

20.3

1.2

    Loss-Interest Rate Swaps Transactions

-

-

1.3

-

-

    L-Interest Rate Swap

-

-

-

-

0.0

    Prov-Contingency Liab.

-

-

-

-

2.6

    L-Currency Option Trade

-

-

-

-

0.0

    L-Trade Stock Options

-

-

-

-

18.4

    Miscellaneous Loss

0.0

0.5

0.2

-

0.3

    Loss-Prior Period Error Correction

-

-

-

-

23.5

    Recovery-Inventory Valuation Loss

-1.2

-9.3

-

-

-

    Loss-Valuation of Tangible Assets

-

0.5

-

-

-

    Loss-Disposal of Other Fixed Assets

-

0.0

-

-

-

    Reversal of Allowance for Doubtful Accou

-4.7

-

-

-

-

    Interest Received

-0.2

-0.3

0.0

0.0

0.0

    Revers-Doubtful Acct

-

-

-

-1.2

0.0

    Gain-Valuation of Currency Swap

-

-

-21.4

-

-

    G-Disp Secs avail. for Sale

0.0

-0.4

-

-0.1

-1.4

    Gain-Disp. of Securities/Equity Method

-

-363.1

0.0

-

-

    G-Reduction of Secs avail. for Sale

-

-

-

-5.9

-

    Decrease or Increase in Derivative Asset

-0.8

-

-

-

-

    G-Inv. Assets Disp.

-

-

-

-

0.0

    G-Tang Assets Disp.

-1.1

-7.3

-5.0

-9.5

-75.1

    G-For Curr Transactn

-3.2

-5.6

0.0

-1.0

-5.0

    G-For Exch Translatn

-86.3

-66.5

-36.6

-2.5

-20.1

    Gain-Interest Rate Swaps Transactions

-

-0.8

-2.9

-

-

    G-Equity Method Val.

-

-

-

-

0.0

    G-Equity Method

-115.1

-63.9

-54.3

-60.8

-47.4

    G-Value Stock Options

-

-

-

-

0.0

    Gain-Valuation of Currency Futures

-

-

-4.1

-

-

    Gain on Valuation of Interest Rate Swap

-

-

-

-2.0

-0.7

    Recovery-Stock Compensation

-

-

-

-

0.0

    Recovery-Debt Adjustment

-

-

-

-1.3

0.0

    Miscellaneous Gains

-0.2

-0.1

-0.2

0.0

-0.2

    Loss Minority Int.

-

-

-

-

0.0

    Gain-Disposal of LT Assets

-

-0.2

-

-

-

    Trade Receivables

-234.1

191.4

-238.4

-230.8

-83.8

    Account Receivables

-1.5

2.6

-4.7

13.6

30.4

    Accrued Income

10.0

-10.2

4.2

-9.0

-1.5

    Advance Payments

-10.6

-1.6

-1.6

7.4

23.2

    Prepaid Expenses

0.0

0.2

-0.2

0.1

0.4

    Ppd Valu Added Taxes

6.9

-19.8

0.0

15.2

-18.1

    Prepaid Taxes

-0.6

-0.1

0.1

0.3

0.1

    Other Quick Assets

-0.5

0.0

0.0

-

0.0

    Inventories

-693.1

187.8

-474.9

-451.5

21.7

    Pre-products

-

-

-

3.7

-1.1

    LT Trade Rcvbls.

-0.5

0.8

-1.3

-0.3

0.2

    Restructuring Rcvbls

-

-

-

-

0.0

    Trade Payables

263.7

-135.0

79.9

107.4

-89.3

    Account Payables

-475.1

470.9

281.7

124.6

125.9

    Advances Received

-7.8

-2.5

7.4

18.8

1.8

    Deposit Withheld

2.0

-12.1

-1.3

12.1

12.6

    Accrued Expenses

23.0

18.2

5.8

12.1

4.4

    Accrued Inc Tax

-128.1

33.5

64.9

19.7

58.9

    Guarantee Deposits

0.0

0.1

0.1

0.0

-0.3

    Deferred Taxes-Asset

0.6

-29.4

22.0

37.7

0.8

    Deferred Taxes-Liab.

-15.9

-171.4

-77.1

7.7

4.4

    Deferred Income Tax Credit, Current, A/L

-

-0.1

-

-

-

    Currency Future Loss

-

-

-

-

0.0

    Payment-Retirement Bonus

-39.9

-36.7

-27.6

-49.9

-23.6

    Deposits for Retirement Insurance

-38.0

-13.5

-12.5

-24.3

-12.8

    Nation Pension Fund

0.5

0.6

0.4

1.0

0.6

    Derivatives Transaction - Assets

-

-

0.4

0.2

0.0

    Overseas Business Translation Debit

-

-

9.4

1.6

-0.8

    LT Deposit Withheld

0.3

0.3

-

-

-

    Other Non-Current Assets

0.0

-

-

-

-

Cash from Operating Activities

-180.3

1,155.4

771.2

506.0

780.3

 

 

 

 

 

 

    Dec-St Finl Assets

2,272.0

298.9

846.4

701.1

0.4

    Disposal-Securities under Equity Method

-

1,043.7

0.0

-

-

    Increase-Government Subsidy

-

-

0.1

1.3

-

    Disp-ST Mkt Secs

-

-

-

-

0.0

    Disp-ST Secs avail. for Sale

-

-

-

-

0.5

    Dec in ST Loans

1.2

1.0

1.6

2.3

0.0

    Decrease on Security Deposit

0.0

-

-

-

-

    Dec-Security Deposit Withheld

-

0.0

0.0

1.0

0.0

    Deposit Withheld

-

-

-

0.1

-

    Decrease-LT Financial Assets

0.2

0.2

0.2

-

0.0

    Disposal-Securities Available-for-Sale

6.8

46.4

11.5

75.9

21.5

    Dividend Income-Equity Method Affiliates

6.0

12.9

17.9

21.2

23.8

    Decrease in LT Loans

3.5

7.1

3.2

2.7

0.6

    Decrease-Guarantee Deposit

0.3

0.1

1.7

6.8

0.0

    Dec. Other Inv Asset

-

-

-

1.9

0.0

    Disp Tangible Assets

2.0

15.2

12.0

16.7

100.9

    Incr-Gov't Subsidy

-

-

-

-

14.3

    Decrease-Other Enrollment Right

-

1.4

-

0.0

0.2

    Inc-ST Finl Assets

-1,672.7

-1,096.0

-587.5

-888.6

-163.1

    Inc-LT Financail Assets

-0.2

-0.2

-0.2

-0.1

-

    Acq-Secs avail-Sale

-1.4

-17.2

-20.6

-19.5

-28.8

    Increase-Securities under Equity Method

-

-

-19.3

-

-62.6

    Decrease-Government Subsidy

-

-

0.0

-

-

    Inc-Security Deposit

0.0

0.0

0.0

-0.9

-0.9

    Inc-LT Loans

-9.6

-19.9

-5.2

-7.2

-7.8

    Inc-Guarantee Depos.

-6.0

-13.9

-1.8

-11.2

-48.7

    Inc-Other Invt Ast

-0.3

0.0

-0.6

-0.6

-6.3

    Acq. Tangible Asset

-1,896.9

-2,861.8

-1,992.4

-959.8

-810.6

    Acq-Intangible Asset

-

0.0

-0.2

-0.2

-0.3

    Acq Other Enroll Rgt

-0.6

-2.5

-3.8

-0.5

0.0

    Increase-ST Loans

-

-0.1

-0.9

-

-

    Decrease-Other LT Assets

-

0.8

-

-

-

Cash from Investing Activities

-1,295.7

-2,583.8

-1,737.8

-1,057.4

-966.8

 

 

 

 

 

 

    Inc in ST Borrowings

3,239.4

1,509.7

1,988.8

1,922.1

370.1

    Increase in Bonds

633.8

257.4

597.4

686.1

575.9

    Inc in LT Borrowings

448.6

1,048.9

1,063.4

449.8

3.4

    Inc-Security Deposit

-

-

1.6

-

0.2

    Capital Increase

-

-

-

-

13.4

    Proceeds from Sale of Treasury Stock

16.3

-

0.0

3.9

0.2

    Increase-Derevatives

-

-

0.1

-

-

    Stock Options

-

-

1.1

-

1.3

    Dec-ST Borrowings

-2,069.1

-1,374.4

-2,021.6

-1,693.0

-490.3

    Dividends Paid

-36.3

-32.8

-40.3

-47.5

-41.9

    Decrease-Derevatives

-

-

-1.3

-

-

    Dec-Curr LT Liabs

-105.5

-70.8

-38.2

-82.1

-50.4

    Dec-Current LT Bond

-484.8

-15.7

-147.4

-256.9

-329.8

    Redemption-General Liability, Current

-1.9

-6.1

-2.3

-2.8

-

    Redemption-Bond

-

-

-

-

-2.6

    Rep/LT For Curr Borr

-

-

-

-18.8

-5.3

    Dec-LT Gen'l Liab.

-

-

-

-6.5

-0.3

    Decrease-Security Deposit

-0.1

0.0

-1.9

-0.4

0.0

    Dec-LT Accrued Expense

-

-

-

-

0.0

    Acquis of Treas Stck

-

-

-4.2

-12.5

-5.9

    Dec-Stock Warrants

-

-

-

-

-1.7

    Dec Paid in Capital

-

-

-

-

-0.1

    Decr-Contingency Liab.

-

-

-

-

-2.4

    Exchange Options

-

-

-

-

-2.4

Cash from Financing Activities

1,640.3

1,316.3

1,395.0

941.4

31.3

 

 

 

 

 

 

Foreign Exchange Effects

0.2

-0.6

-

-

-

Net Change in Cash

164.5

-112.6

428.4

389.9

-155.2

 

 

 

 

 

 

Net Cash - Beginning Balance

743.2

785.9

483.1

182.3

332.6

Net Cash - Ending Balance

907.7

673.2

911.5

572.2

177.4

 

 

 

Financial Health

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Sep-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

3,462.1

44.57%

9,525.1

28.15%

10.18%

14.26%

Research & Development1

-

-

0.9

357.12%

35.78%

117.06%

Operating Income1

264.0

42.35%

934.6

76.82%

14.77%

15.84%

Income Available to Common Excl Extraord Items1

-126.5

-

877.1

-11.53%

25.16%

-0.26%

Basic EPS Excl Extraord Items1

-1.50

-

10.45

-11.92%

24.97%

-0.62%

Capital Expenditures2

1,026.8

-26.90%

1,897.5

-39.99%

34.96%

34.33%

Cash from Operating Activities2

134.0

-

-180.3

-

-

-

Free Cash Flow

-830.3

-

-2,116.9

-

-

-

Total Assets3

18,190.8

-

16,513.2

16.75%

26.38%

22.69%

Total Liabilities3

10,462.4

-

9,693.4

16.46%

28.08%

24.42%

Total Long Term Debt3

4,685.5

-

4,287.5

0.56%

30.90%

33.73%

Employees3

-

-

8268

7.68%

10.80%

9.94%

Total Common Shares Outstanding3

84.3

-

84.1

0.69%

0.23%

0.14%

1-ExchangeRate: KRW to USD Average for Period

1082.999462

 

1156.281981

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1095.603455

 

1156.281981

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1178.050000

 

1134.900000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

14.11%

11.67%

15.89%

13.71%

16.07%

Operating Margin

9.81%

7.11%

11.72%

8.68%

10.46%

Pretax Margin

10.64%

14.26%

8.31%

8.44%

10.83%

Net Profit Margin

9.21%

13.34%

7.27%

6.28%

7.66%

Financial Strength

Current Ratio

0.90

1.12

1.49

1.41

1.18

Long Term Debt/Equity

0.63

0.73

0.82

0.54

0.38

Total Debt/Equity

1.09

1.00

1.03

0.80

0.65

Management Effectiveness

Return on Assets

5.93%

8.28%

7.35%

6.37%

6.96%

Return on Equity

14.14%

20.05%

18.45%

13.71%

14.39%

Efficiency

Receivables Turnover

10.56

6.87

8.13

7.18

6.18

Inventory Turnover

4.70

4.41

6.00

6.37

5.56

Asset Turnover

0.63

0.61

1.05

0.99

0.87

Market Valuation USD (mil)

Enterprise Value2

14,435.1

.

Enterprise Value/Revenue (TTM)

1.39

Price/Book (MRQ)

0.89

.

Enterprise Value/EBITDA (TTM)

10.17

Market Cap as of 06-Jan-20121

7,129.2

.

 

 

1-ExchangeRate: KRW to USD on 6-Jan-2012

1156.000000

 

 

 

2-ExchangeRate: KRW to USD on 30-Sep-2011

1178.050000

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 



 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Current Ratio

0.90

1.12

1.49

1.41

1.18

Quick/Acid Test Ratio

0.46

0.71

0.88

0.87

0.72

Working Capital1

-485.7

444.3

1,187.6

1,101.3

402.5

Long Term Debt/Equity

0.63

0.73

0.82

0.54

0.38

Total Debt/Equity

1.09

1.00

1.03

0.80

0.65

Long Term Debt/Total Capital

0.30

0.37

0.40

0.30

0.23

Total Debt/Total Capital

0.52

0.50

0.51

0.44

0.39

Payout Ratio

4.14%

3.64%

5.10%

8.08%

8.68%

Effective Tax Rate

11.88%

4.51%

15.61%

23.47%

25.94%

Total Capital1

14,245.3

11,325.0

7,793.0

7,764.6

6,206.7

 

 

 

 

 

 

Efficiency

Asset Turnover

0.63

0.61

1.05

0.99

0.87

Inventory Turnover

4.70

4.41

6.00

6.37

5.56

Days In Inventory

77.72

82.80

60.81

57.32

65.68

Receivables Turnover

10.56

6.87

8.13

7.18

6.18

Days Receivables Outstanding

34.58

53.12

44.92

50.82

59.05

Revenue/Employee2

1,173,750

961,232

1,336,118

1,447,325

1,155,484

Operating Income/Employee2

115,172

68,357

156,540

125,641

120,833

EBITDA/Employee2

160,376

100,152

190,629

173,608

163,339

 

 

 

 

 

 

Profitability

Gross Margin

14.11%

11.67%

15.89%

13.71%

16.07%

Operating Margin

9.81%

7.11%

11.72%

8.68%

10.46%

EBITDA Margin

13.66%

10.42%

14.27%

12.00%

14.14%

EBIT Margin

9.81%

7.11%

11.72%

8.68%

10.46%

Pretax Margin

10.64%

14.26%

8.31%

8.44%

10.83%

Net Profit Margin

9.21%

13.34%

7.27%

6.28%

7.66%

R&D Expense/Revenue

0.01%

0.00%

0.00%

0.01%

0.01%

COGS/Revenue

85.89%

88.33%

84.11%

86.29%

83.93%

SG&A Expense/Revenue

4.20%

4.44%

4.03%

4.94%

5.48%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

5.93%

8.28%

7.35%

6.37%

6.96%

Return on Equity

14.14%

20.05%

18.45%

13.71%

14.39%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-25.17

-22.42

-12.81

-5.40

-0.38

Operating Cash Flow/Share 2

-2.18

15.16

8.07

6.01

9.59

1-ExchangeRate: KRW to USD Period End Date

1134.9

1164.475

1259.55

936.05

930

2-ExchangeRate: KRW to USD Average for Period

1134.9

1164.475

1259.55

936.05

930

 

Current Market Multiples

Market Cap/Equity (MRQ)

0.91

Enterprise Value/Equity (MRQ)

1.87

 

 

 

 

 

Annual Income Statement

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Total Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

 

 

 

 

 

 

    Cost of Revenue

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

Cost of Revenue, Total

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

Gross Profit

1,343.8

786.0

1,624.9

1,215.0

1,034.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

304.7

231.9

331.6

352.1

278.2

    Labor & Related Expense

83.3

57.2

69.7

73.4

63.6

    Advertising Expense

11.9

10.2

10.7

12.6

11.0

Total Selling/General/Administrative Expenses

399.9

299.2

411.9

438.1

352.7

Research & Development

0.9

0.2

0.2

0.4

0.3

    Depreciation

8.2

7.4

8.8

5.7

5.4

    Amortization of Intangibles

0.1

0.4

1.0

1.5

0.7

Depreciation/Amortization

8.4

7.8

9.9

7.2

6.1

    Impairment-Assets Held for Use

-

-

-

-

1.9

    Impairment-Assets Held for Sale

-

-

5.1

-

0.2

Unusual Expense (Income)

-

-

5.1

-

2.1

Total Operating Expense

8,590.5

6,254.4

9,026.0

8,092.6

5,764.1

 

 

 

 

 

 

Operating Income

934.6

478.8

1,197.8

769.3

673.2

 

 

 

 

 

 

        Interest Expense - Non-Operating

-162.0

-108.2

-151.4

-148.1

-127.4

    Interest Expense, Net Non-Operating

-162.0

-108.2

-151.4

-148.1

-127.4

        Interest Income - Non-Operating

56.8

51.0

60.3

63.7

35.4

        Investment Income - Non-Operating

183.7

520.2

-258.5

52.0

77.6

    Interest/Investment Income - Non-Operating

240.4

571.2

-198.3

115.7

113.0

Interest Income (Expense) - Net Non-Operating Total

78.5

463.0

-349.7

-32.4

-14.3

Gain (Loss) on Sale of Assets

-17.6

-2.1

-13.6

1.8

65.5

    Other Non-Operating Income (Expense)

17.5

20.1

15.3

9.4

-27.5

Other, Net

17.5

20.1

15.3

9.4

-27.5

Income Before Tax

1,013.0

959.8

849.8

748.1

696.9

 

 

 

 

 

 

Total Income Tax

120.3

43.3

132.6

175.5

180.8

Income After Tax

892.7

916.6

717.2

572.5

516.1

 

 

 

 

 

 

    Minority Interest

-15.7

-14.0

30.2

-13.2

-20.3

Net Income Before Extraord Items

877.1

902.5

747.4

559.4

495.8

Net Income

877.1

902.5

747.4

559.4

495.8

 

 

 

 

 

 

    Preferred Dividends

-

-4.5

-3.7

-2.8

-2.5

Total Adjustments to Net Income

-

-4.5

-3.7

-2.8

-2.5

Income Available to Common Excl Extraord Items

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

83.9

83.5

83.5

83.5

81.8

Basic EPS Excl Extraord Items

10.45

10.75

8.90

6.66

6.03

Basic/Primary EPS Incl Extraord Items

10.45

10.75

8.90

6.66

6.03

Dilution Adjustment

0.0

0.0

3.7

2.8

2.5

Diluted Net Income

877.1

898.1

747.4

559.4

495.8

Diluted Weighted Average Shares

83.9

83.5

83.9

84.1

84.2

Diluted EPS Excl Extraord Items

10.45

10.75

8.90

6.65

5.89

Diluted EPS Incl Extraord Items

10.45

10.75

8.90

6.65

5.89

Dividends per Share - Common Stock Primary Issue

0.43

0.39

0.45

0.54

0.52

Gross Dividends - Common Stock

36.4

32.7

38.0

45.0

44.0

Interest Expense, Supplemental

162.0

108.2

151.4

148.1

127.4

Interest Capitalized, Supplemental

-149.8

-146.4

-95.8

-

-

Depreciation, Supplemental

365.7

221.6

259.1

291.4

235.3

Total Special Items

17.6

2.1

18.7

-2.0

-63.5

Normalized Income Before Tax

1,030.6

961.9

868.5

746.1

633.4

 

 

 

 

 

 

Effect of Special Items on Income Taxes

2.1

0.1

2.9

-0.4

-16.5

Inc Tax Ex Impact of Sp Items

122.4

43.4

135.5

175.1

164.3

Normalized Income After Tax

908.3

918.6

733.0

571.0

469.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

892.6

900.1

759.5

555.0

446.4

 

 

 

 

 

 

Basic Normalized EPS

10.64

10.77

9.09

6.64

5.46

Diluted Normalized EPS

10.64

10.77

9.09

6.63

5.33

Amort of Acquisition Costs, Supplemental

-

-

-

-0.2

-

Amort of Intangibles, Supplemental

1.1

1.1

1.7

2.3

1.5

Rental Expenses

2.3

2.0

2.4

3.9

4.7

Advertising Expense, Supplemental

11.9

10.2

10.7

12.6

11.0

Research & Development Exp, Supplemental

0.9

0.2

0.2

0.4

0.3

Normalized EBIT

934.6

478.8

1,202.9

769.3

675.3

Normalized EBITDA

1,301.5

701.5

1,463.7

1,062.8

912.1

 

 

 

 

Interim Income Statement

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1082.999462

1083.436022

1120.28956

1183.132366

1164.000484

 

 

 

 

 

 

    Net Sales

3,462.1

3,743.4

3,181.7

2,192.1

2,346.8

Revenue

3,462.1

3,743.4

3,181.7

2,192.1

2,346.8

Total Revenue

3,462.1

3,743.4

3,181.7

2,192.1

2,346.8

 

 

 

 

 

 

    Cost of Revenue

3,106.0

3,239.1

2,783.1

1,917.5

1,940.5

Cost of Revenue, Total

3,106.0

3,239.1

2,783.1

1,917.5

1,940.5

Gross Profit

356.1

504.3

398.6

274.6

406.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

112.8

130.3

122.1

97.1

107.0

Total Selling/General/Administrative Expenses

112.8

130.3

122.1

97.1

107.0

    Other Operating Expense

27.6

18.1

17.3

20.1

18.2

    Other, Net

-48.3

-28.0

-16.3

-12.3

-34.4

Other Operating Expenses, Total

-20.7

-9.9

1.0

7.8

-16.2

Total Operating Expense

3,198.1

3,359.5

2,906.2

2,022.3

2,031.4

 

 

 

 

 

 

Operating Income

264.0

383.9

275.5

169.8

315.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-99.0

-94.6

-87.2

-51.0

-62.7

    Interest Expense, Net Non-Operating

-99.0

-94.6

-87.2

-51.0

-62.7

        Interest Income - Non-Operating

18.9

23.8

18.9

15.5

15.0

        Investment Income - Non-Operating

-361.4

82.7

97.2

105.1

-136.7

    Interest/Investment Income - Non-Operating

-342.4

106.5

116.1

120.6

-121.7

Interest Income (Expense) - Net Non-Operating Total

-441.5

12.0

29.0

69.7

-184.5

Income Before Tax

-177.5

395.9

304.5

239.4

131.0

 

 

 

 

 

 

Total Income Tax

-51.0

77.9

66.3

42.8

14.1

Income After Tax

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Net Income Before Extraord Items

-126.5

318.0

238.2

196.7

116.8

Net Income

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

84.2

84.1

84.1

84.0

84.0

Basic EPS Excl Extraord Items

-1.50

3.78

2.83

2.34

1.39

Basic/Primary EPS Incl Extraord Items

-1.50

3.78

2.83

2.34

1.39

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-126.5

318.0

238.2

196.7

116.8

Diluted Weighted Average Shares

84.2

84.1

84.1

84.0

84.0

Diluted EPS Excl Extraord Items

-1.50

3.78

2.83

2.34

1.39

Diluted EPS Incl Extraord Items

-1.50

3.78

2.83

2.34

1.39

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

99.0

94.6

87.2

51.0

62.7

Interest Capitalized, Supplemental

-3.7

-13.8

-1.7

-32.3

-23.7

Depreciation, Supplemental

158.1

162.1

155.4

87.6

104.0

Normalized Income Before Tax

-177.5

395.9

304.5

239.4

131.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

-51.0

77.9

66.3

42.8

14.1

Normalized Income After Tax

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Basic Normalized EPS

-1.50

3.78

2.83

2.34

1.39

Diluted Normalized EPS

-1.50

3.78

2.83

2.34

1.39

Amort of Intangibles, Supplemental

0.4

0.4

0.4

0.3

0.3

Rental Expenses

0.8

0.5

0.7

0.6

0.4

Advertising Expense, Supplemental

3.2

2.9

1.2

3.9

4.7

Research & Development Exp, Supplemental

7.9

8.3

8.7

2.1

4.3

Normalized EBIT

264.0

383.9

275.5

169.8

315.4

Normalized EBITDA

422.5

546.4

431.3

257.6

419.7

 

 

 

Annual Balance Sheet

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

924.8

738.0

796.4

568.0

182.1

    Short Term Investments

406.1

990.8

108.1

447.9

328.9

Cash and Short Term Investments

1,330.9

1,728.8

904.5

1,015.9

511.0

        Accounts Receivable - Trade, Gross

955.7

826.4

1,194.6

1,325.8

1,087.4

        Provision for Doubtful Accounts

-1.4

-6.1

-5.5

-7.4

-9.1

    Trade Accounts Receivable - Net

961.6

837.4

1,194.6

1,330.7

1,081.7

    Other Receivables

10.1

7.5

10.2

7.0

37.3

Total Receivables, Net

971.8

845.0

1,204.8

1,337.7

1,119.0

    Inventories - Finished Goods

837.1

485.0

644.4

651.7

401.2

    Inventories - Work In Progress

422.8

212.9

268.7

284.0

231.7

    Inventories - Raw Materials

566.2

407.4

349.5

278.1

172.4

    Inventories - Other

306.7

275.8

195.1

193.8

177.8

Total Inventory

2,132.8

1,381.0

1,457.6

1,407.7

983.0

Prepaid Expenses

32.3

38.4

15.6

20.7

36.1

    Deferred Income Tax - Current Asset

50.8

48.3

5.3

10.3

15.9

    Other Current Assets

1.6

3.1

0.2

0.3

1.5

Other Current Assets, Total

52.4

51.4

5.5

10.6

17.4

Total Current Assets

4,520.2

4,044.5

3,587.9

3,792.6

2,666.5

 

 

 

 

 

 

        Buildings

2,058.5

886.6

723.2

939.2

813.4

        Land/Improvements

2,080.4

1,506.4

646.5

848.7

830.9

        Machinery/Equipment

5,820.8

3,232.9

2,909.3

3,721.7

3,465.0

        Construction in Progress

3,317.1

5,295.5

2,268.9

1,064.1

617.5

        Other Property/Plant/Equipment

4.0

3.7

3.3

4.4

4.2

    Property/Plant/Equipment - Gross

13,280.8

10,925.0

6,551.1

6,578.2

5,731.0

    Accumulated Depreciation

-2,636.4

-2,211.7

-1,831.0

-2,239.0

-1,978.9

Property/Plant/Equipment - Net

10,644.4

8,713.3

4,720.1

4,339.3

3,752.1

Intangibles, Net

66.7

62.8

57.9

74.8

16.3

    LT Investment - Affiliate Companies

567.5

422.8

1,080.6

1,340.6

1,279.7

    LT Investments - Other

615.0

446.9

178.6

286.3

192.8

Long Term Investments

1,182.6

869.7

1,259.2

1,626.9

1,472.4

Note Receivable - Long Term

34.6

30.1

16.1

20.0

17.9

    Deferred Income Tax - Long Term Asset

-

-

-

22.7

-

    Other Long Term Assets

64.8

64.6

48.6

42.3

57.2

Other Long Term Assets, Total

64.8

64.6

48.6

65.1

57.2

Total Assets

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

Accounts Payable

952.2

625.2

698.8

823.7

681.2

Accrued Expenses

118.6

92.8

67.4

83.7

72.1

Notes Payable/Short Term Debt

2,086.2

908.1

745.2

905.1

671.9

Current Portion - Long Term Debt/Capital Leases

1,051.8

588.3

87.7

216.5

340.8

    Customer Advances

30.3

37.3

37.0

41.2

23.9

    Security Deposits

0.3

0.3

0.2

0.1

0.2

    Income Taxes Payable

79.1

204.3

155.0

132.3

113.5

    Other Payables

669.1

1,125.7

574.6

441.7

336.4

    Deferred Income Tax - Current Liability

-

-

-

2.0

0.0

    Other Current Liabilities

18.3

18.0

34.4

44.9

24.1

Other Current liabilities, Total

797.2

1,385.7

801.2

662.2

498.0

Total Current Liabilities

5,006.0

3,600.2

2,400.3

2,691.2

2,264.1

 

 

 

 

 

 

    Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

    Capital Lease Obligations

-

-

-

-

0.0

Total Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

Total Debt

7,425.5

5,651.7

3,958.9

3,439.0

2,443.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

195.6

162.8

162.6

315.0

227.0

Deferred Income Tax

195.6

162.8

162.6

315.0

227.0

Minority Interest

133.8

112.8

83.9

150.7

139.5

    Reserves

0.1

0.1

0.1

0.2

17.5

    Pension Benefits - Underfunded

53.7

74.5

80.2

99.1

113.2

    Other Long Term Liabilities

16.6

6.0

2.6

19.2

27.3

Other Liabilities, Total

70.5

80.6

82.9

118.6

158.0

Total Liabilities

9,693.4

8,111.7

5,855.6

5,593.0

4,219.1

 

 

 

 

 

 

    Preferred Stock - Non Redeemable

-

1.8

1.7

2.2

2.2

Preferred Stock - Non Redeemable, Net

-

1.8

1.7

2.2

2.2

    Common Stock

375.9

364.5

337.0

453.5

456.4

Common Stock

375.9

364.5

337.0

453.5

456.4

Additional Paid-In Capital

627.7

596.0

551.0

740.1

751.2

Retained Earnings (Accumulated Deficit)

5,019.3

4,058.3

2,873.9

3,047.9

2,557.2

Treasury Stock - Common

-17.6

-12.6

-11.6

-15.6

-

Unrealized Gain (Loss)

809.3

659.1

74.9

95.3

-

    Translation Adjustment

5.2

6.1

7.3

-1.1

-

    Other Equity

-

-

-

3.3

-3.9

Other Equity, Total

5.2

6.1

7.3

2.2

-3.9

Total Equity

6,819.8

5,673.3

3,834.1

4,325.6

3,763.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

84.1

83.5

83.5

83.5

83.5

Total Common Shares Outstanding

84.1

83.5

83.5

83.5

83.5

Treasury Shares - Common Stock Primary Issue

1.2

1.4

1.4

1.4

1.4

    Shares Outstanding - Preferred Stock Primary Issue

0.0

0.4

0.4

0.4

0.4

Total Preferred Stock Outstanding

0.0

0.4

0.4

0.4

0.4

Treasury Shares - Preferred Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

8,268

7,678

6,686

6,078

5,721

Number of Common Shareholders

108,090

-

120,413

88,702

30,275

Deferred Revenue - Current

30.3

37.3

37.0

41.2

23.9

Total Long Term Debt, Supplemental

2,886.8

2,983.6

1,384.8

789.9

233.2

Long Term Debt Maturing within 1 Year

342.9

588.5

71.8

224.2

48.9

Long Term Debt Maturing in Year 2

512.2

304.1

96.0

96.6

62.2

Long Term Debt Maturing in Year 3

708.7

432.9

197.5

129.2

44.3

Long Term Debt Maturing in Year 4

446.1

548.2

226.8

118.6

44.1

Long Term Debt Maturing in Year 5

410.0

374.1

-

-

-

Long Term Debt Maturing in 2-3 Years

1,220.9

737.0

293.6

225.8

106.5

Long Term Debt Maturing in 4-5 Years

856.2

922.3

226.8

118.6

44.1

Long Term Debt Matur. in Year 6 & Beyond

466.8

735.8

792.7

221.3

33.6

Total Capital Leases, Supplemental

-

-

-

-

33.1

Capital Lease Payments Due in Year 1

-

-

-

-

33.1

 

 

 

 

Interim Balance Sheet

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

KRW

KRW

KRW

Exchange Rate

1178.05

1067.65

1096.95

 

 

 

 

    Cash & Equivalents

508.0

687.3

1,053.0

    Short Term Investments

450.0

996.5

671.2

Cash and Short Term Investments

958.1

1,683.8

1,724.1

        Accounts Receivable - Trade, Gross

2,092.8

2,456.8

2,199.1

        Provision for Doubtful Accounts

-1.0

-1.1

-1.1

    Trade Accounts Receivable - Net

2,099.2

2,468.9

2,207.7

    Other Receivables

53.1

30.6

29.8

Total Receivables, Net

2,152.2

2,499.4

2,237.5

    Inventories - Finished Goods

404.1

471.7

436.5

    Inventories - Work In Progress

446.4

462.9

465.2

    Inventories - Raw Materials

1,192.7

1,289.6

1,134.8

    Inventories - Other

301.1

322.0

288.2

Total Inventory

2,344.4

2,546.1

2,324.7

Prepaid Expenses

111.6

47.5

49.1

    Other Current Assets

0.0

0.4

2.8

Other Current Assets, Total

0.0

0.4

2.8

Total Current Assets

5,566.4

6,777.2

6,338.3

 

 

 

 

        Buildings

2,437.5

2,675.5

2,575.6

        Land/Improvements

1,805.6

1,992.2

1,938.4

        Machinery/Equipment

7,961.8

8,652.2

8,377.5

        Construction in Progress

999.3

815.3

430.3

        Other Property/Plant/Equipment

0.0

-

-

    Property/Plant/Equipment - Gross

13,204.2

14,135.2

13,321.8

    Accumulated Depreciation

-2,851.7

-2,985.2

-2,748.0

Property/Plant/Equipment - Net

10,352.6

11,150.0

10,573.7

Intangibles, Net

68.4

73.7

71.7

    LT Investment - Affiliate Companies

153.7

151.0

141.2

    LT Investments - Other

1,941.3

2,449.0

2,013.9

Long Term Investments

2,095.1

2,600.0

2,155.1

Note Receivable - Long Term

50.3

51.2

40.6

    Other Long Term Assets

58.2

59.8

59.7

Other Long Term Assets, Total

58.2

59.8

59.7

Total Assets

18,190.8

20,711.8

19,239.1

 

 

 

 

Accounts Payable

797.9

1,310.0

1,221.7

Accrued Expenses

147.2

172.6

158.8

Notes Payable/Short Term Debt

2,389.9

2,439.8

2,777.6

Current Portion - Long Term Debt/Capital Leases

1,321.9

1,451.2

1,033.4

    Dividends Payable

-

-

38.3

    Customer Advances

25.6

30.6

22.6

    Income Taxes Payable

65.5

89.8

82.3

    Other Payables

480.8

517.9

521.5

    Other Current Liabilities

74.0

11.6

4.8

Other Current liabilities, Total

645.9

649.9

669.5

Total Current Liabilities

5,302.8

6,023.5

5,861.1

 

 

 

 

    Long Term Debt

4,685.5

5,126.9

4,774.4

Total Long Term Debt

4,685.5

5,126.9

4,774.4

Total Debt

8,397.4

9,018.0

8,585.5

 

 

 

 

    Deferred Income Tax - LT Liability

394.3

596.3

478.8

Deferred Income Tax

394.3

596.3

478.8

    Pension Benefits - Underfunded

59.6

56.0

45.1

    Other Long Term Liabilities

20.2

14.9

11.6

Other Liabilities, Total

79.8

70.9

56.7

Total Liabilities

10,462.4

11,817.5

11,170.9

 

 

 

 

    Common Stock

362.1

399.5

388.9

Common Stock

362.1

399.5

388.9

Additional Paid-In Capital

271.5

288.5

280.8

Retained Earnings (Accumulated Deficit)

5,865.6

6,585.3

6,099.9

Treasury Stock - Common

-14.6

-18.7

-18.2

Unrealized Gain (Loss)

1,279.7

1,651.4

1,323.7

    Translation Adjustment

1.8

-0.2

-0.2

    Other Equity

-13.7

0.0

0.0

    Other Comprehensive Income

-24.1

-11.4

-6.6

Other Equity, Total

-36.0

-11.7

-6.8

Total Equity

7,728.4

8,894.3

8,068.2

 

 

 

 

Total Liabilities & Shareholders’ Equity

18,190.8

20,711.8

19,239.1

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

84.3

84.1

84.1

Total Common Shares Outstanding

84.3

84.1

84.1

Treasury Shares - Common Stock Primary Issue

1.0

1.2

1.2

Employees

8,306

8,254

8,254

Number of Common Shareholders

108,090

108,090

-

Accumulated Intangible Amort, Suppl.

8.2

8.6

8.0

Deferred Revenue - Current

25.6

30.6

22.6

 

 

 

 

Annual Cash Flows

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Reclassified Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

892.7

916.6

717.2

572.5

516.1

    Depreciation

365.7

221.6

259.1

291.4

235.3

Depreciation/Depletion

365.7

221.6

259.1

291.4

235.3

    Amortization of Intangibles

1.1

1.1

1.7

2.3

1.5

Amortization

1.1

1.1

1.7

2.3

1.5

Deferred Taxes

-15.3

-200.8

-55.1

45.4

5.2

    Unusual Items

2.5

2.8

2.6

-1.9

-42.2

    Equity in Net Earnings (Loss)

-115.1

-426.3

-53.1

-60.8

-47.1

    Other Non-Cash Items

12.3

-34.3

216.3

86.6

61.7

Non-Cash Items

-100.3

-457.9

165.9

23.9

-27.5

    Accounts Receivable

-226.0

184.6

-240.2

-226.4

-54.8

    Inventories

-703.7

186.2

-476.5

-440.5

43.8

    Prepaid Expenses

6.3

-19.7

-0.1

15.5

-17.5

    Other Assets

-1.3

0.0

0.4

0.2

0.0

    Accounts Payable

-211.4

335.9

361.6

232.0

36.6

    Accrued Expenses

23.0

18.2

5.8

12.1

4.4

    Taxes Payable

-128.1

33.5

64.9

19.7

58.9

    Other Liabilities

-83.0

-63.9

-33.4

-42.2

-21.6

Changes in Working Capital

-1,324.2

674.8

-317.5

-429.6

49.7

Cash from Operating Activities

-180.3

1,155.4

771.2

506.0

780.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-1,896.9

-2,861.8

-1,992.4

-959.8

-810.6

    Purchase/Acquisition of Intangibles

-0.6

-2.5

-4.0

-0.7

-0.3

Capital Expenditures

-1,897.5

-2,864.3

-1,996.4

-960.5

-810.9

    Sale of Fixed Assets

2.0

15.2

12.0

16.7

115.2

    Sale/Maturity of Investment

2,279.0

1,389.1

858.1

778.9

22.5

    Purchase of Investments

-1,674.5

-1,113.3

-628.2

-908.8

-260.8

    Sale of Intangible Assets

-

1.4

-

0.0

0.2

    Other Investing Cash Flow

-4.7

-11.9

16.7

16.1

-33.0

Other Investing Cash Flow Items, Total

601.8

280.5

258.6

-97.0

-155.9

Cash from Investing Activities

-1,295.7

-2,583.8

-1,737.8

-1,057.4

-966.8

 

 

 

 

 

 

    Other Financing Cash Flow

-107.5

-76.9

-42.1

-91.8

-55.3

Financing Cash Flow Items

-107.5

-76.9

-42.1

-91.8

-55.3

Total Cash Dividends Paid

-36.3

-32.8

-40.3

-47.5

-41.9

        Sale/Issuance of Common

16.3

-

0.0

3.9

13.6

        Repurchase/Retirement of Common

-

-

-4.2

-12.5

-5.9

    Common Stock, Net

16.3

-

-4.2

-8.5

7.7

    Options Exercised

-

-

1.1

-

1.3

    Warrants Converted

-

-

-

-

-1.7

Issuance (Retirement) of Stock, Net

16.3

-

-3.1

-8.5

7.2

        Short Term Debt Issued

3,239.4

1,509.7

1,988.8

1,922.1

370.1

        Short Term Debt Reduction

-2,069.1

-1,374.4

-2,021.6

-1,693.0

-490.3

    Short Term Debt, Net

1,170.3

135.4

-32.8

229.2

-120.2

        Long Term Debt Issued

1,082.3

1,306.3

1,660.8

1,135.9

579.3

        Long Term Debt Reduction

-484.8

-15.7

-147.4

-275.8

-337.8

    Long Term Debt, Net

597.5

1,290.6

1,513.3

860.1

241.5

Issuance (Retirement) of Debt, Net

1,767.8

1,426.0

1,480.5

1,089.3

121.3

Cash from Financing Activities

1,640.3

1,316.3

1,395.0

941.4

31.3

 

 

 

 

 

 

Foreign Exchange Effects

0.2

-0.6

-

-

-

Net Change in Cash

164.5

-112.6

428.4

389.9

-155.2

 

 

 

 

 

 

Net Cash - Beginning Balance

743.2

785.9

483.1

182.3

332.6

Net Cash - Ending Balance

907.7

673.2

911.5

572.2

177.4

 

 

 

 

Interim Cash Flows

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

30-Sep-2010

30-Jun-2010

Period Length

9 Months

6 Months

3 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1095.603455

1101.856011

1120.28956

1164.307745

1155.056202

 

 

 

 

 

 

Net Income/Starting Line

433.0

554.8

238.2

524.0

326.8

    Depreciation

475.4

317.4

155.4

251.0

163.2

Depreciation/Depletion

475.4

317.4

155.4

251.0

163.2

    Amortization of Intangibles

1.2

0.8

0.4

0.8

0.5

Amortization

1.2

0.8

0.4

0.8

0.5

    Unusual Items

1.8

1.8

1.7

0.8

0.8

    Equity in Net Earnings (Loss)

-15.6

-16.4

-10.8

-14.7

-11.3

    Other Non-Cash Items

591.6

178.5

62.6

124.8

134.3

Non-Cash Items

577.8

163.9

53.5

110.9

123.7

    Accounts Receivable

-300.0

-420.7

-219.7

-340.3

-254.0

    Inventories

-404.5

-364.5

-220.7

-628.6

-490.4

    Other Assets

-102.6

-39.3

-15.0

-24.6

14.2

    Accounts Payable

-257.4

161.7

101.8

-289.7

44.0

    Other Liabilities

41.6

-10.8

-22.3

-9.7

-14.2

    Other Assets & Liabilities, Net

4.5

4.4

4.4

-

-

    Other Operating Cash Flow

-335.0

-207.7

-77.5

-329.8

-235.6

Changes in Working Capital

-1,353.4

-877.0

-449.2

-1,622.7

-936.2

Cash from Operating Activities

134.0

159.9

-1.7

-736.0

-321.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-1,024.3

-599.5

-160.0

-1,321.1

-941.3

    Purchase/Acquisition of Intangibles

-2.4

-0.7

-0.3

-0.6

-0.6

Capital Expenditures

-1,026.8

-600.2

-160.3

-1,321.8

-941.9

    Sale of Fixed Assets

0.7

0.6

0.5

0.2

0.2

    Sale/Maturity of Investment

1,426.1

367.9

348.4

1,857.9

1,483.6

    Purchase of Investments

-1,515.1

-922.3

-594.6

-1,294.0

-933.4

    Sale of Intangible Assets

0.4

0.4

0.4

-

-

Other Investing Cash Flow Items, Total

-88.0

-553.4

-245.4

564.1

550.4

Cash from Investing Activities

-1,114.7

-1,153.6

-405.7

-757.6

-391.6

 

 

 

 

 

 

Total Cash Dividends Paid

-38.4

-38.2

-

-36.1

-36.3

        Short Term Debt Issued

2,404.8

2,441.2

846.3

1,762.9

1,138.6

        Short Term Debt Reduction

-2,265.1

-2,252.3

-297.3

-764.4

-564.8

    Short Term Debt, Net

139.6

188.9

549.0

998.4

573.9

        Long Term Debt Issued

1,134.0

1,100.0

447.1

1,131.3

916.4

        Long Term Debt Reduction

-633.6

-511.1

-462.2

-520.3

-364.0

    Long Term Debt, Net

500.4

588.9

-15.1

611.0

552.4

Issuance (Retirement) of Debt, Net

640.1

777.8

533.9

1,609.4

1,126.3

Cash from Financing Activities

601.7

739.6

533.9

1,573.4

1,089.9

 

 

 

 

 

 

Foreign Exchange Effects

-

0.1

-0.2

0.0

0.2

Net Change in Cash

-379.0

-254.0

126.1

79.8

376.6

 

 

 

 

 

 

Net Cash - Beginning Balance

925.3

920.0

904.9

716.0

721.7

Net Cash - Ending Balance

546.2

666.0

1,031.0

795.8

1,098.3

Cash Interest Paid

265.1

167.1

58.3

128.2

77.7

Cash Taxes Paid

143.3

85.4

36.0

260.4

210.5

 

 

 

 

Annual Income Statement

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

Total Revenue

9,525.1

6,733.2

10,223.8

8,861.9

6,437.2

 

 

 

 

 

 

    Cost of Revenue

8,181.3

5,947.2

8,598.9

7,646.8

5,402.8

    Salaries

59.6

40.4

50.2

51.2

44.9

    Retirement Allowance

9.1

5.6

7.0

9.5

9.8

    Employee Benefits

14.7

11.2

12.4

12.6

8.9

    Travel Expenses

4.6

3.7

4.0

4.3

3.6

    Communication Exp.

1.3

1.1

0.9

1.0

1.0

    Utility Expenses

0.4

0.4

0.5

0.4

0.1

    Consumable Expense

1.0

0.7

0.6

0.9

1.9

    Printing Expense

1.1

1.0

1.1

1.1

1.2

    Expenses for Samples

0.0

0.0

0.0

0.1

0.0

    Amort. of Bad Debts

-

0.2

1.1

3.0

1.1

    Taxes and Dues

3.3

3.1

3.3

3.3

2.7

    Rental Expenses

2.3

2.0

2.4

3.9

4.7

    Commissions Paid

30.0

21.2

26.0

29.7

29.6

    Education & Training

1.8

0.8

1.7

2.3

1.3

    Depreciation Expense

8.2

7.4

8.8

5.7

5.4

    Amort of Intangibles

0.1

0.4

1.0

1.5

0.7

    Repair & Maintenance

2.0

1.0

1.3

2.1

1.0

    Vehicles Expenses

1.2

0.9

1.0

1.0

1.0

    Entertainment

1.5

1.1

1.4

1.4

1.2

    Advertising Expenses

11.9

10.2

10.7

12.6

11.0

    Activity Expenses

0.7

0.6

0.6

0.7

0.6

    Shipping/Handling

124.2

96.2

123.8

147.0

123.0

    Other Exporting Exp

124.9

93.9

157.0

146.0

100.9

    Insurance Expenses

0.1

0.1

0.2

0.2

0.2

    Oversea Activity Exp

3.7

3.7

4.5

3.1

1.4

    Outside Contract Fee

0.5

0.2

0.1

0.2

0.4

    Research & Develop.

0.9

0.2

0.2

0.4

0.3

    Brancxh Office Maintenance

-

-

-

-

0.2

    Miscellaneous Operating Expense

-

0.2

0.2

0.3

0.3

    Loss-Reduct. of Sec. Available-Sale

-

-

5.1

-

-

    Loss-Reduction in inventory

-

-

-

-

0.6

    L-Reduce Investment Assets

-

-

-

-

0.2

    Loss-Reduction of Tangible Assets

-

-

-

-

1.9

Total Operating Expense

8,590.5

6,254.4

9,026.0

8,092.6

5,764.1

 

 

 

 

 

 

    Interest Income

56.8

51.0

60.3

63.7

35.4

    Dividend Income

7.9

0.2

3.7

0.4

0.5

    Rental Income

0.8

0.9

0.9

0.4

0.5

    G-For Curr Transactn

87.1

150.6

124.7

33.5

47.7

    G-For Exch Translatn

86.3

66.5

36.6

2.5

20.1

    Gain-Valuation of Currency Swap

-

-

21.4

-

-

    G-disp Secs avail. for Sale

0.0

0.4

-

0.1

1.4

    Gain-Disposal of Equity Method Sec.

-

363.1

0.0

-

-

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

-

5.9

-

    Gain Disp Inv Asset

-

-

-

-

0.0

    Gain Disposal Assets

1.1

7.3

5.0

9.5

75.1

    Reversal of Allowance for Doubtful Accou

4.7

-

-

1.2

0.0

    G-Currency Fut. Trad

-

-

-

-

1.0

    Gain-Currency Forwards Transactions

-

-

0.1

-

-

    G-Value Stock Options

-

-

-

-

0.0

    Gain-Derivatives Transactions

13.5

6.7

2.9

-

-

    Gain-Valuation of Derivatives

-

-

4.1

2.0

0.7

    Recovery of Stock Compensation

-

-

-

-

0.0

    G-Debt Adjustment

-

-

-

1.3

0.0

    Other Non-Op. Income

24.1

29.7

22.5

17.7

11.0

    Gain-Disposal of Fixed Assets

-

0.2

-

-

-

    Interest Expenses

-162.0

-108.2

-148.4

-143.7

-122.3

    Loss-Amortization of PV Discount

-

-

-3.0

-4.4

-5.1

    L-For Curr Transactn

-73.9

-120.7

-328.9

-29.8

-16.5

    L-For Exch Translatn

-47.0

-1.3

-172.0

-20.3

-1.2

    Loss-Valuation of Currency Swap

-1.9

-6.7

0.0

-

-

    L-Trade Rcv Disposal

-17.5

-8.6

-4.8

-2.9

-4.6

    Loss-Disposal of inventory

0.0

-

0.0

-

-

    L-Disp Secs for Sale

-0.4

-1.8

-0.4

-0.5

-3.5

    L-Inventory Scraping

-

-

-

-

0.0

    L-Currency Fut. Trad

-

-

-

-

-0.4

    Loss-Currency Forwards Transaction

-

-

-1.3

-

-

    L-Currency Option Trading

-

-

-

-

0.0

    L-Trade Stock Options

-

-

-

-

-18.4

    Losses on Derivative Transactions

-3.2

-

-1.3

-

0.0

    L-Inv Asset Disposal

-

-

-

-0.1

0.0

    L-Tang Asset Dispos.

-1.2

-0.6

-13.8

-4.8

-4.9

    Donations Paid

-5.0

-4.1

-4.3

-4.7

-3.3

    Prov-Contingent Liab

-

-

-

-

-2.6

    Loss-Prior Period Error Correction

-

-

-

-

-23.5

    Other Non-Op Expense

-7.0

-6.4

-3.9

-6.6

-9.5

    Loss-Revaluation of Tangible Assets

-

-0.5

-

-

-

    Loss-Disposal of Other LT Assets

-

0.0

-

-

-

    G-Equity Method Valu

115.1

63.9

54.3

60.8

47.4

    G-Equity Method

-

-

-

-

0.0

    Loss under Equity Method

-

-0.7

-1.2

-

-0.3

    L-Disp Securties under Equity Method

-

-

-1.0

-2.4

-0.8

Net Income Before Taxes

1,013.0

959.8

849.8

748.1

696.9

 

 

 

 

 

 

Provision for Income Taxes

120.3

43.3

132.6

175.5

180.8

Net Income After Taxes

892.7

916.6

717.2

572.5

516.1

 

 

 

 

 

 

    Gain Minority Int.

-15.7

-14.0

30.2

-13.2

-20.3

Net Income Before Extra. Items

877.1

902.5

747.4

559.4

495.8

Net Income

877.1

902.5

747.4

559.4

495.8

 

 

 

 

 

 

    Preferred Dividends

-

-4.5

-3.7

-2.8

-2.5

Income Available to Com Excl ExtraOrd

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

877.1

898.1

743.7

556.6

493.4

 

 

 

 

 

 

Basic Weighted Average Shares

83.9

83.5

83.5

83.5

81.8

Basic EPS Excluding ExtraOrdinary Items

10.45

10.75

8.90

6.66

6.03

Basic EPS Including ExtraOrdinary Item

10.45

10.75

8.90

6.66

6.03

Dilution Adjustment

0.0

0.0

3.7

2.8

2.5

Diluted Net Income

877.1

898.1

747.4

559.4

495.8

Diluted Weighted Average Shares

83.9

83.5

83.9

84.1

84.2

Diluted EPS Excluding ExtraOrd Items

10.45

10.75

8.90

6.65

5.89

Diluted EPS Including ExtraOrd Items

10.45

10.75

8.90

6.65

5.89

DPS-Common Stock

0.43

0.39

0.45

0.54

0.52

Gross Dividends - Common Stock

36.4

32.7

38.0

45.0

44.0

Normalized Income Before Taxes

1,030.6

961.9

868.5

746.1

633.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

122.4

43.4

135.5

175.1

164.3

Normalized Income After Taxes

908.3

918.6

733.0

571.0

469.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

892.6

900.1

759.5

555.0

446.4

 

 

 

 

 

 

Basic Normalized EPS

10.64

10.77

9.09

6.64

5.46

Diluted Normalized EPS

10.64

10.77

9.09

6.63

5.33

R&D Expense, Supplemental

0.9

0.2

0.2

0.4

0.3

Advertising Expense

11.9

10.2

10.7

12.6

11.0

Interest Expense, Supplemental

162.0

108.2

151.4

148.1

127.4

Capitalized Interest

-149.8

-146.4

-95.8

-

-

Amort of Acquisition Costs

-

-

-

-0.2

-

Amort of Intangibles, Supplemental

1.1

1.1

1.7

2.3

1.5

Rental Expense, Supplemental

2.3

2.0

2.4

3.9

4.7

Depreciation, Supplemental

365.7

221.6

259.1

291.4

235.3

 

 

 

 

Interim Income Statement

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1082.999462

1083.436022

1120.28956

1183.132366

1164.000484

 

 

 

 

 

 

    Sales Revenue

3,462.1

3,743.4

3,181.7

2,192.1

2,346.8

Total Revenue

3,462.1

3,743.4

3,181.7

2,192.1

2,346.8

 

 

 

 

 

 

    Costs of Goods and Services Sold

3,106.0

3,239.1

2,783.1

1,917.5

1,940.5

    Other Income

-48.3

-28.0

-16.3

-12.3

-34.4

    Selling and Administrative Expenses

112.8

45.0

39.6

97.1

42.7

    Distribution Expense

-

85.3

82.4

-

64.4

    Miscellaneous Expenses

27.6

18.1

17.3

20.1

18.2

Total Operating Expense

3,198.1

3,359.5

2,906.2

2,022.3

2,031.4

 

 

 

 

 

 

    Interest Income

18.9

23.8

18.9

15.5

15.0

    Dividend Income

-

-

7.6

1.3

-

    Gains on Foreign Currency Transactions

29.5

36.8

7.2

1.4

-

    Gains on Foreign Currency Translation

-

45.9

89.7

99.2

-

    Gains on Derivatives Transactions

2.2

1.1

0.2

5.7

0.3

    Gains on Valuations of Derivatives

4.7

-

-

-

5.1

    Interest Expenses

-99.0

-94.6

-87.2

-51.0

-62.7

    Losses on Foreign Currency Transactions

-13.0

-5.1

-0.9

-1.5

-12.3

    Losses on Foreign Currency Translation

-383.3

-

-15.4

-

-135.3

    Losses on Derivative Transactions

-0.6

0.0

-0.5

-0.1

-0.1

    Losses on Sale of Available for Sale Fin

-

-0.1

-

-

-0.3

    Losses on Valuation of Derivatives

-

-1.3

-1.4

-4.3

-

    Gains on Valuation of Equity Method Secu

-0.8

5.5

10.8

3.4

5.9

Net Income Before Taxes

-177.5

395.9

304.5

239.4

131.0

 

 

 

 

 

 

Provision for Income Taxes

-51.0

77.9

66.3

42.8

14.1

Net Income After Taxes

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Net Income Before Extra. Items

-126.5

318.0

238.2

196.7

116.8

Net Income

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Basic Weighted Average Shares

84.2

84.1

84.1

84.0

84.0

Basic EPS Excluding ExtraOrdinary Items

-1.50

3.78

2.83

2.34

1.39

Basic EPS Including ExtraOrdinary Item

-1.50

3.78

2.83

2.34

1.39

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-126.5

318.0

238.2

196.7

116.8

Diluted Weighted Average Shares

84.2

84.1

84.1

84.0

84.0

Diluted EPS Excluding ExtraOrd Items

-1.50

3.78

2.83

2.34

1.39

Diluted EPS Including ExtraOrd Items

-1.50

3.78

2.83

2.34

1.39

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

-177.5

395.9

304.5

239.4

131.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

-51.0

77.9

66.3

42.8

14.1

Normalized Income After Taxes

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-126.5

318.0

238.2

196.7

116.8

 

 

 

 

 

 

Basic Normalized EPS

-1.50

3.78

2.83

2.34

1.39

Diluted Normalized EPS

-1.50

3.78

2.83

2.34

1.39

Interest Expense, Supplemental

99.0

94.6

87.2

51.0

62.7

Interest Capitalized, Supplemental

-3.7

-13.8

-1.7

-32.3

-23.7

Rental Expense, Supplemental

0.8

0.5

0.7

0.6

0.4

Advertising Expense, Supplemental

3.2

2.9

1.2

3.9

4.7

Research & Development Exp, Supplemental

7.9

8.3

8.7

2.1

4.3

Depreciation, Supplemental

158.1

162.1

155.4

87.6

104.0

Amort of Intangibles, Supplemental

0.4

0.4

0.4

0.3

0.3

 

 

 

 

Annual Balance Sheet

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

924.8

738.2

796.4

568.0

182.1

    Cash & Equivalents-Government Subsidy

0.0

-0.2

-

-

-

    ST Finl Assets

406.1

990.4

108.1

438.0

253.6

    Secs avail-Sale

-

0.4

-

9.8

75.3

    Trade Rcvb Gross

955.7

826.4

1,194.6

1,325.8

1,087.4

    Doubtful Account

-1.4

-6.1

-5.5

-7.4

-9.1

    ST Loans

3.9

2.9

3.2

3.2

3.2

    Other Receivables

6.3

4.6

6.9

3.8

34.1

    Accrued Income

7.3

17.1

5.5

12.3

3.5

    Advance Payments

14.0

3.1

1.8

0.5

7.9

    Prepaid Expenses

0.1

0.1

0.3

0.2

0.2

    Prepaid VAT

32.2

38.2

15.3

20.5

35.9

    Prepaid Taxes

0.8

0.2

0.1

0.2

0.5

    Security Deposit, Current

0.0

0.1

0.1

0.1

1.0

    Pre-Products

-

-

-

-

3.7

    Stock Option

-

-

-

-

0.0

    Dfrd Taxes - Current Assets

50.8

48.3

5.3

10.3

15.9

    Other Quick Assets

0.5

0.0

0.0

-

0.0

    Derivatives

0.2

2.8

-

-

-

    Merchandise

4.9

1.6

4.8

5.0

3.3

    Finished Goods

379.1

213.5

358.5

361.6

285.5

    Residual Products

2.5

-

-

-

-

    Semi-finish Good

249.6

114.2

182.4

159.1

110.4

    Work in Progress

173.2

98.7

86.3

125.0

117.6

    Raw Materials

566.2

407.4

349.5

278.1

172.4

    Stored Goods

292.7

272.6

193.3

193.3

169.9

    Raw Materials in Transit

450.6

269.9

281.0

285.0

112.4

Total Current Assets

4,520.2

4,044.5

3,587.9

3,792.6

2,666.5

 

 

 

 

 

 

    LT Finl Assets

0.0

0.1

0.1

0.1

0.0

    Secs avail-Sale

606.6

438.8

171.1

276.6

181.9

    Currency Futures, LT Assets

-

-

3.6

-

-

    Currency Swap, LT Assets

-

-

15.1

-

-

    Secs Eqty Method

567.5

422.8

1,080.6

1,340.6

1,279.7

    LT Loan

34.6

29.7

14.9

19.7

17.7

    LT Trade Rcvbls.

-

0.3

1.2

0.3

0.2

    LT Guarantee Dep

54.4

47.4

29.9

40.1

56.6

    Enrollment Right

34.1

32.6

28.9

34.4

12.7

    Derivatives-Debit

10.4

17.2

-

2.2

0.5

    Other Inv Assets

8.4

8.0

7.4

9.5

10.9

    LA Deferred Tax

-

-

-

22.7

-

    Land

2,080.4

1,506.4

646.5

848.7

830.9

    Buildings

1,349.2

605.5

538.8

700.7

659.2

    Buildings-Reduction

-1.0

-1.0

-0.9

-1.3

-1.4

    Buildings Depre.

-256.4

-208.6

-167.2

-189.9

-156.3

    Structures

710.5

282.2

185.4

240.3

156.1

    Structures-Reduction

-0.1

-0.1

-0.1

-0.4

-0.6

    Structure Depre.

-83.2

-59.1

-45.4

-50.5

-39.9

    Machinery/Equip.

5,596.4

3,078.3

2,787.6

3,552.6

3,331.0

    Machinery/Equip. - Reduction

-

-

-

-

0.0

    Mach/Equip Depre

-2,177.2

-1,850.1

-1,546.0

-1,892.3

-1,687.9

    Transport Equip.

43.1

28.7

12.1

14.2

11.1

    Transport Deprec

-11.6

-10.0

-7.0

-7.4

-5.4

    Tools/Equip./Fix

181.3

125.9

109.6

155.0

123.0

    Tool/Equip Depr.

-105.2

-81.4

-63.3

-96.3

-87.3

    Other Tangibles

4.0

3.7

3.3

4.4

4.2

    Depr.-Other

-3.0

-2.5

-2.1

-2.5

-2.0

    Construc in Prog

3,317.1

5,295.5

2,268.9

1,064.1

643.3

    Goc't Subsidy-Construction in Progress

-

-

-

-

-25.8

    Mach.In Transit

-

-

-

-

0.0

    Software

0.2

0.3

0.6

1.3

1.8

    Exclus. Road Rgt

0.0

0.0

0.0

0.0

0.0

    Usage Right-Docking Facilities

49.7

49.7

27.9

38.3

0.1

    Usage Right-Docking Facilities-Governmen

-20.3

-20.3

-

-

-

    Land Use Rights

0.2

0.2

0.2

0.2

0.2

    Indust.-Patent

0.1

0.1

0.1

0.2

0.3

    Donated Asset

-

0.0

0.0

0.0

0.0

    Other Intangible Assets

2.6

0.2

0.2

0.4

1.1

Total Assets

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    Trade Payables

952.2

625.3

698.8

823.7

681.2

    Discount for Present Value for Trade Pay

-

-0.1

-

-

-

    Accounts Payable

669.1

1,125.7

574.6

441.7

336.4

    ST Borrowings

2,086.2

908.1

745.2

905.1

671.9

    Advance for Customers

30.3

37.3

37.0

41.2

23.9

    Deposit Withheld

18.1

15.3

26.4

37.1

24.1

    Accrued Expenses

118.6

92.8

67.4

83.7

72.1

    Inc. Taxes Pay.

79.1

204.3

155.0

132.3

113.5

    Current Bonds

709.3

483.8

15.9

171.5

256.5

    Discount on Debentures Issuance, Current

-0.4

-0.2

-

-

-

    Current LT Liab.

342.9

104.7

71.8

44.9

84.4

    Currency Swap, Current

-

0.6

0.0

-

-

    CL Guarnt Depos.

0.3

0.3

0.2

0.1

0.2

    Deferred Tax Credit

-

-

-

2.0

0.0

    Current Portion of Liabilities

0.2

2.1

8.0

7.8

-

    Discount for Present Value for Current P

-

0.0

-

-

-

Total Current Liabilities

5,006.0

3,600.2

2,400.3

2,691.2

2,264.1

 

 

 

 

 

 

    Bonds

1,748.3

1,764.7

1,812.9

1,751.8

1,246.4

    Discount on Issuance of Debentures

-4.7

-4.6

-

-

-

    Exchangable Bond

-

-

-

-

0.0

    LT Borrowings

2,543.9

2,395.1

1,313.0

565.7

167.3

    Foreign Curr LTD

-

-

-

-

16.9

    Lease Payable

-

-

-

-

0.0

Total Long Term Debt

4,287.5

4,155.2

3,126.0

2,317.4

1,430.6

 

 

 

 

 

 

    Retire Reserve

256.0

234.4

80.2

99.1

113.2

    Deposit-Retirement Insurance

-199.6

-156.8

-

-

-

    Transfer to National Pension Fund

-2.7

-3.1

-

-

-

    LT Trade Payable

-

-

-

11.1

21.0

    LT Gen Acc't Pay

-

-

-

4.8

2.3

    LT Accounts Pay

1.0

1.1

1.1

1.7

1.8

    LT Secs Deposits

1.0

1.0

1.0

1.7

2.0

    LT Deposit Withheld

0.2

0.3

0.1

-

-

    Interest Rate Swap, LT Liabilities

14.5

3.6

0.4

-

-

    Deferred Tax-Cr.

195.6

162.8

162.6

315.0

227.0

    Reserve-Contingency Loss

0.1

0.1

0.1

0.2

-

    Reserve-Accident Liab.

-

-

-

-

17.5

    Minority Interest

133.8

112.8

83.9

150.7

139.5

    LL Int Rate Swap

-

-

-

-

0.0

Total Liabilities

9,693.4

8,111.7

5,855.6

5,593.0

4,219.1

 

 

 

 

 

 

    Common Stock

375.9

364.5

337.0

453.5

456.4

    Reserve for Assets Revaluation

367.8

358.5

331.4

446.0

-

    Stock Options

-

-

-

0.8

-

    Paid-in Capital in Excess of Par

105.9

103.2

95.4

128.4

-

    Legal Reserve

37.7

33.2

30.0

36.5

-

    Voluntary Reserve

4,089.3

3,039.3

2,196.1

2,452.9

-

    Gain-Revaluation of Tangible Assets

722.3

596.5

-

-

-

    Gain-Valuation of Derivatives

0.2

4.4

-

-

-

    Preferred Stock

-

1.8

1.7

2.2

2.2

    Capital Surplus

153.9

134.3

124.1

164.9

751.2

    Retained Earning Carried Forward

892.3

985.9

647.8

558.5

2,557.2

    Capital Adjustmt

-

-

-

-

-3.9

    Treasury Stock

-17.6

-12.6

-11.6

-15.6

-

    Overseas Business Translation Credit

5.2

6.1

7.3

-1.1

-

    Discount Stk Iss

-

-

-

3.3

-

    Loss-Valuation of Derivatives

-12.5

-4.6

-0.2

-

-

    Loss-Valu. of Sec. Available for Sale

0.0

0.0

-2.8

-

-

    Gain-Valu. of Sec. Available for Sale

69.4

54.5

32.7

71.7

-

    Capital Change, Equity Method

30.0

8.7

45.2

23.7

-

    Capital Change, Equity Method (Loss)

-0.1

-0.3

-0.1

-0.1

-

Total Equity

6,819.8

5,673.3

3,834.1

4,325.6

3,763.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

16,513.2

13,785.0

9,689.7

9,918.6

7,982.4

 

 

 

 

 

 

    S/O-Common Stock

84.1

83.5

83.5

83.5

83.5

Total Common Shares Outstanding

84.1

83.5

83.5

83.5

83.5

T/S-Common Stock

1.2

1.4

1.4

1.4

1.4

    S/O-Preferred Stock

0.0

0.4

0.4

0.4

0.4

Total Preferred Shares Outstanding

0.0

0.4

0.4

0.4

0.4

T/S-Preferred Stock

0.0

0.0

0.0

0.0

0.0

Deferred Revenue, Current

30.3

37.3

37.0

41.2

23.9

Full-Time Employees

8,268

7,678

6,686

6,078

5,721

Number of Common Shareholders

108,090

-

120,413

88,702

30,275

LT Debt Maturing within 1 Yr

342.9

588.5

71.8

224.2

48.9

LT Debt Maturing within 2 Yr

512.2

304.1

96.0

96.6

62.2

LT Debt Maturing within 3 Yr

708.7

432.9

197.5

129.2

44.3

LT Debt Maturing within 4 Yr

446.1

548.2

226.8

118.6

44.1

LT Debt Maturing within 5 Yr

410.0

374.1

-

-

-

LT Debt Remaining Maturities

466.8

735.8

792.7

221.3

33.6

Total Long Term Debt, Supplemental

2,886.8

2,983.6

1,384.8

789.9

233.2

LT Lease Maturing within 1 Yr

-

-

-

-

33.1

Total Capital Leases

-

-

-

-

33.1

 

 

 

 

Interim Balance Sheet

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

KRW

KRW

KRW

Exchange Rate

1178.05

1067.65

1096.95

 

 

 

 

    Cash and Cash Equivalents

508.0

687.3

1,053.0

    Short-term Financial Instruments

450.0

996.5

671.2

    Trade Receivable, Gross

2,092.8

2,456.8

2,199.1

    Allowance for Doubtful Accounts for Trad

-1.0

-1.1

-1.1

    Other Receivables

48.5

25.7

25.6

    Accrued Income

7.3

13.2

9.6

    Adjsutment for Trade and Other Receivabl

0.0

0.0

0.0

    Currency Futures, Current Assets

-

0.3

2.8

    Short-term Loans

4.6

4.9

4.2

    Deposits Received for Guarantees

0.0

0.1

0.0

    Adjustment for Other Financial Assets

-

0.0

0.0

    Finished Goods

400.1

467.6

431.2

    Residual Products

2.9

3.1

3.5

    Merchandises

1.1

1.0

1.9

    Semifinished Goods

263.8

258.7

292.4

    Works in Process

182.6

204.1

172.8

    Raw Materials

722.0

796.6

632.7

    Supplies

276.3

296.3

280.4

    Raw Materials in Transit, Current

470.7

492.9

502.1

    Adjustment for Inventory

0.0

0.0

0.0

    Prepaid Expenses Total

72.3

8.6

13.5

    Advance Payments

24.9

25.7

7.7

    Prepaid Value Added Tax

39.4

39.0

35.5

    Adjustment for Other Current Assets

-

0.0

-

Total Current Assets

5,566.4

6,777.2

6,338.3

 

 

 

 

    LT Available-for-Sale Financial Assets

1,769.6

2,259.5

1,836.7

    Long-term Financial Instruments

6.8

7.5

0.0

    Investment in Properties

164.9

182.0

177.2

    Adjustment for Other Financial Assets

0.0

0.0

0.0

    Long-term Loans

50.3

51.2

40.6

    Investment in Affiliates

153.7

151.0

141.2

    Land

1,805.6

1,992.2

1,938.4

    Buildings

1,499.9

1,649.7

1,580.4

    Accumulated Depreciation for Buildings

-278.1

-291.7

-269.4

    Structures

937.6

1,025.8

995.2

    Accumulated Depreciation for Structures

-105.9

-106.6

-94.0

    Machinery

7,688.3

8,364.4

8,103.4

    Accumulated Depreciation for Machinery

-2,333.4

-2,447.9

-2,257.5

    Vehicles & Transportation Equipment

57.0

56.5

55.0

    Accumulated Depreciation for Vehicles

-13.4

-13.6

-12.5

    Tools & Equipments & Fixtures

216.5

231.3

219.1

    Accumulated Depreciation for Tools

-121.0

-125.5

-114.6

    Construction in Progress

999.3

815.3

430.3

    Adjustment for Tangible Assets

0.0

-

-

    Computer Software

0.2

0.2

0.2

    Usage Right-Exclusive Sidetrack

0.0

0.0

0.0

    Usage Right-Docking Facilities

27.7

30.8

30.2

    Industrial Property Rights

0.0

0.1

0.1

    Membership Right

34.6

36.5

35.1

    Other Intangible Assets

5.7

6.1

6.1

    Adjustment for Intangible Assets

0.0

0.0

0.0

    Interest Rate Derivative Assets

-

-

0.4

    Currency Swap, Current Assets

-

4.5

5.7

    Derivatives in Non-current Assets

8.7

-

-

    Adjustment for Derivatives Assets

-

-

0.0

    Deposits Provided

49.1

55.0

53.3

    Other Non-current Assets

0.3

0.3

0.3

Total Assets

18,190.8

20,711.8

19,239.1

 

 

 

 

    Trade Payable

797.9

1,310.0

1,221.7

    Other Payables

480.8

517.9

521.5

    Accrued Expenses

147.2

172.5

158.5

    Dividend Payable

-

-

38.3

    Adjustment for Trade and Other Liabiliti

0.0

0.0

0.0

    Short-term Borrowings

2,389.9

2,439.8

2,777.6

    Income Taxes Payable

65.5

89.8

82.3

    Current Portion of Bonds

560.0

622.4

610.1

    Current Portion of Long-term Debt

761.9

828.8

423.3

    Withholdings

62.8

11.6

4.8

    Derivatives in Current Liabilities

11.2

-

-

    Advance for Customers

25.6

30.6

22.6

    VAT Revenue

-

0.0

0.3

    Adjustment for Other Current Liabilities

-

-

0.0

Total Current Liabilities

5,302.8

6,023.5

5,861.1

 

 

 

 

    Bonds

2,172.8

2,349.6

1,799.4

    Long-term Borrowings

2,512.7

2,777.3

2,975.0

Total Long Term Debt

4,685.5

5,126.9

4,774.4

 

 

 

 

    Derivatives in Non-Current Liabilities

18.8

13.2

9.8

    Security Deposit, LT

0.9

1.0

1.0

    Financial Security Deposit

0.5

0.7

0.8

    Adjustment for Other Financial Liabiliti

-

-

0.0

    Provisions for Retirement and Severance

59.6

56.0

45.1

    Deferred Income Taxes Liabilities

394.3

596.3

478.8

Total Liabilities

10,462.4

11,817.5

11,170.9

 

 

 

 

    Capital Stock

362.1

399.5

388.9

    Additional Paid-in Capital

102.1

112.6

109.6

    Other Capital Surplus

169.5

175.9

171.2

    Treasury Stock in Capital Adjustments

-14.6

-18.7

-18.2

    Other Capital

0.0

0.0

0.0

    Gain-Valuation of Available-for-Sale Fin

1,287.7

1,660.2

1,332.5

    Gains on Valuation of Equity Method Secu

-7.9

-8.8

-8.8

    G/L on Valuation of Derivatives Cash Flo

-24.1

-11.4

-6.6

    Overseas Business Trans. Debit/Credit

1.8

-0.2

-0.2

    Adjustment for Other Capital

0.0

0.0

0.0

    Appropriated Retained Earnings for Statu

39.9

44.0

42.9

    Appropriated Retained Earnings for Volun

4,759.8

5,252.0

5,111.8

    Gain/Loss on Insurance Repair

-13.7

-

-

    Retained Earnings Before Appropriations

1,065.9

-

-

    Other Retained Earnings

-

1,289.2

945.3

    Adjustment for Retained Earnings

0.0

0.0

-

Total Equity

7,728.4

8,894.3

8,068.2

 

 

 

 

Total Liabilities & Shareholders' Equity

18,190.8

20,711.8

19,239.1

 

 

 

 

    S/O-Common Stock

84.3

84.1

84.1

Total Common Shares Outstanding

84.3

84.1

84.1

T/S-Common Stock

1.0

1.2

1.2

Deferred Revenue, Current

25.6

30.6

22.6

Accumulated Intangible Amort, Suppl.

8.2

8.6

8.0

Full-Time Employees

8,306

8,254

8,254

Number of Common Shareholders

108,090

108,090

-

 

 

 

 

Annual Cash Flows

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Reclassified Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

892.7

916.6

717.2

572.5

516.1

    Depreciation

365.7

221.6

259.1

291.4

235.3

    Amort. Intangible

1.1

1.1

1.7

2.3

1.5

    Amort-Bad Debt Exp.

-

0.2

1.1

3.0

1.1

    Accrued Interest Expense

2.8

3.0

1.7

1.5

2.6

    L-Inv.Asset Disposal

-

-

-

0.1

0.0

    L-Tang. Assets Disp.

1.2

0.6

13.8

4.8

4.9

    Loss-Reduction of Tangible Assets

-

-

-

-

1.9

    L-Disp Secs for Sale

0.4

1.8

0.4

0.5

3.5

    Loss-Disposal of Sec under Equity Method

-

-

1.0

2.4

0.8

    Loss under Equity Method

-

0.7

1.2

-

0.3

    L-Inventory Scrap.

0.2

1.1

6.7

6.2

0.0

    Loss-Valuation of Currency Swap

1.9

6.7

0.0

-

-

    Loss-Reduct. of Sec. Available-for-Sale

-

-

5.1

-

-

    L-Reduce Inventory

-

-

-

-

0.6

    L-Reduce Investment Assets

-

-

-

-

0.2

    Amort Discount Value

-

-

3.0

4.4

5.1

    Retirement Allowance

55.1

38.5

47.1

59.7

51.4

    L-Trade Rcvbl. Disp.

-

-

4.8

2.9

4.6

    L-For Curr Transactn

3.2

4.8

26.4

0.8

0.1

    Loss-Foreign Currency Translation

47.0

1.2

167.1

20.3

1.2

    Loss-Interest Rate Swaps Transactions

-

-

1.3

-

-

    L-Interest Rate Swap

-

-

-

-

0.0

    Prov-Contingency Liab.

-

-

-

-

2.6

    L-Currency Option Trade

-

-

-

-

0.0

    L-Trade Stock Options

-

-

-

-

18.4

    Miscellaneous Loss

0.0

0.5

0.2

-

0.3

    Loss-Prior Period Error Correction

-

-

-

-

23.5

    Recovery-Inventory Valuation Loss

-1.2

-9.3

-

-

-

    Loss-Valuation of Tangible Assets

-

0.5

-

-

-

    Loss-Disposal of Other Fixed Assets

-

0.0

-

-

-

    Reversal of Allowance for Doubtful Accou

-4.7

-

-

-

-

    Interest Received

-0.2

-0.3

0.0

0.0

0.0

    Revers-Doubtful Acct

-

-

-

-1.2

0.0

    Gain-Valuation of Currency Swap

-

-

-21.4

-

-

    G-Disp Secs avail. for Sale

0.0

-0.4

-

-0.1

-1.4

    Gain-Disp. of Securities/Equity Method

-

-363.1

0.0

-

-

    G-Reduction of Secs avail. for Sale

-

-

-

-5.9

-

    Decrease or Increase in Derivative Asset

-0.8

-

-

-

-

    G-Inv. Assets Disp.

-

-

-

-

0.0

    G-Tang Assets Disp.

-1.1

-7.3

-5.0

-9.5

-75.1

    G-For Curr Transactn

-3.2

-5.6

0.0

-1.0

-5.0

    G-For Exch Translatn

-86.3

-66.5

-36.6

-2.5

-20.1

    Gain-Interest Rate Swaps Transactions

-

-0.8

-2.9

-

-

    G-Equity Method Val.

-

-

-

-

0.0

    G-Equity Method

-115.1

-63.9

-54.3

-60.8

-47.4

    G-Value Stock Options

-

-

-

-

0.0

    Gain-Valuation of Currency Futures

-

-

-4.1

-

-

    Gain on Valuation of Interest Rate Swap

-

-

-

-2.0

-0.7

    Recovery-Stock Compensation

-

-

-

-

0.0

    Recovery-Debt Adjustment

-

-

-

-1.3

0.0

    Miscellaneous Gains

-0.2

-0.1

-0.2

0.0

-0.2

    Loss Minority Int.

-

-

-

-

0.0

    Gain-Disposal of LT Assets

-

-0.2

-

-

-

    Trade Receivables

-234.1

191.4

-238.4

-230.8

-83.8

    Account Receivables

-1.5

2.6

-4.7

13.6

30.4

    Accrued Income

10.0

-10.2

4.2

-9.0

-1.5

    Advance Payments

-10.6

-1.6

-1.6

7.4

23.2

    Prepaid Expenses

0.0

0.2

-0.2

0.1

0.4

    Ppd Valu Added Taxes

6.9

-19.8

0.0

15.2

-18.1

    Prepaid Taxes

-0.6

-0.1

0.1

0.3

0.1

    Other Quick Assets

-0.5

0.0

0.0

-

0.0

    Inventories

-693.1

187.8

-474.9

-451.5

21.7

    Pre-products

-

-

-

3.7

-1.1

    LT Trade Rcvbls.

-0.5

0.8

-1.3

-0.3

0.2

    Restructuring Rcvbls

-

-

-

-

0.0

    Trade Payables

263.7

-135.0

79.9

107.4

-89.3

    Account Payables

-475.1

470.9

281.7

124.6

125.9

    Advances Received

-7.8

-2.5

7.4

18.8

1.8

    Deposit Withheld

2.0

-12.1

-1.3

12.1

12.6

    Accrued Expenses

23.0

18.2

5.8

12.1

4.4

    Accrued Inc Tax

-128.1

33.5

64.9

19.7

58.9

    Guarantee Deposits

0.0

0.1

0.1

0.0

-0.3

    Deferred Taxes-Asset

0.6

-29.4

22.0

37.7

0.8

    Deferred Taxes-Liab.

-15.9

-171.4

-77.1

7.7

4.4

    Deferred Income Tax Credit, Current, A/L

-

-0.1

-

-

-

    Currency Future Loss

-

-

-

-

0.0

    Payment-Retirement Bonus

-39.9

-36.7

-27.6

-49.9

-23.6

    Deposits for Retirement Insurance

-38.0

-13.5

-12.5

-24.3

-12.8

    Nation Pension Fund

0.5

0.6

0.4

1.0

0.6

    Derivatives Transaction - Assets

-

-

0.4

0.2

0.0

    Overseas Business Translation Debit

-

-

9.4

1.6

-0.8

    LT Deposit Withheld

0.3

0.3

-

-

-

    Other Non-Current Assets

0.0

-

-

-

-

Cash from Operating Activities

-180.3

1,155.4

771.2

506.0

780.3

 

 

 

 

 

 

    Dec-St Finl Assets

2,272.0

298.9

846.4

701.1

0.4

    Disposal-Securities under Equity Method

-

1,043.7

0.0

-

-

    Increase-Government Subsidy

-

-

0.1

1.3

-

    Disp-ST Mkt Secs

-

-

-

-

0.0

    Disp-ST Secs avail. for Sale

-

-

-

-

0.5

    Dec in ST Loans

1.2

1.0

1.6

2.3

0.0

    Decrease on Security Deposit

0.0

-

-

-

-

    Dec-Security Deposit Withheld

-

0.0

0.0

1.0

0.0

    Deposit Withheld

-

-

-

0.1

-

    Decrease-LT Financial Assets

0.2

0.2

0.2

-

0.0

    Disposal-Securities Available-for-Sale

6.8

46.4

11.5

75.9

21.5

    Dividend Income-Equity Method Affiliates

6.0

12.9

17.9

21.2

23.8

    Decrease in LT Loans

3.5

7.1

3.2

2.7

0.6

    Decrease-Guarantee Deposit

0.3

0.1

1.7

6.8

0.0

    Dec. Other Inv Asset

-

-

-

1.9

0.0

    Disp Tangible Assets

2.0

15.2

12.0

16.7

100.9

    Incr-Gov't Subsidy

-

-

-

-

14.3

    Decrease-Other Enrollment Right

-

1.4

-

0.0

0.2

    Inc-ST Finl Assets

-1,672.7

-1,096.0

-587.5

-888.6

-163.1

    Inc-LT Financail Assets

-0.2

-0.2

-0.2

-0.1

-

    Acq-Secs avail-Sale

-1.4

-17.2

-20.6

-19.5

-28.8

    Increase-Securities under Equity Method

-

-

-19.3

-

-62.6

    Decrease-Government Subsidy

-

-

0.0

-

-

    Inc-Security Deposit

0.0

0.0

0.0

-0.9

-0.9

    Inc-LT Loans

-9.6

-19.9

-5.2

-7.2

-7.8

    Inc-Guarantee Depos.

-6.0

-13.9

-1.8

-11.2

-48.7

    Inc-Other Invt Ast

-0.3

0.0

-0.6

-0.6

-6.3

    Acq. Tangible Asset

-1,896.9

-2,861.8

-1,992.4

-959.8

-810.6

    Acq-Intangible Asset

-

0.0

-0.2

-0.2

-0.3

    Acq Other Enroll Rgt

-0.6

-2.5

-3.8

-0.5

0.0

    Increase-ST Loans

-

-0.1

-0.9

-

-

    Decrease-Other LT Assets

-

0.8

-

-

-

Cash from Investing Activities

-1,295.7

-2,583.8

-1,737.8

-1,057.4

-966.8

 

 

 

 

 

 

    Inc in ST Borrowings

3,239.4

1,509.7

1,988.8

1,922.1

370.1

    Increase in Bonds

633.8

257.4

597.4

686.1

575.9

    Inc in LT Borrowings

448.6

1,048.9

1,063.4

449.8

3.4

    Inc-Security Deposit

-

-

1.6

-

0.2

    Capital Increase

-

-

-

-

13.4

    Proceeds from Sale of Treasury Stock

16.3

-

0.0

3.9

0.2

    Increase-Derevatives

-

-

0.1

-

-

    Stock Options

-

-

1.1

-

1.3

    Dec-ST Borrowings

-2,069.1

-1,374.4

-2,021.6

-1,693.0

-490.3

    Dividends Paid

-36.3

-32.8

-40.3

-47.5

-41.9

    Decrease-Derevatives

-

-

-1.3

-

-

    Dec-Curr LT Liabs

-105.5

-70.8

-38.2

-82.1

-50.4

    Dec-Current LT Bond

-484.8

-15.7

-147.4

-256.9

-329.8

    Redemption-General Liability, Current

-1.9

-6.1

-2.3

-2.8

-

    Redemption-Bond

-

-

-

-

-2.6

    Rep/LT For Curr Borr

-

-

-

-18.8

-5.3

    Dec-LT Gen'l Liab.

-

-

-

-6.5

-0.3

    Decrease-Security Deposit

-0.1

0.0

-1.9

-0.4

0.0

    Dec-LT Accrued Expense

-

-

-

-

0.0

    Acquis of Treas Stck

-

-

-4.2

-12.5

-5.9

    Dec-Stock Warrants

-

-

-

-

-1.7

    Dec Paid in Capital

-

-

-

-

-0.1

    Decr-Contingency Liab.

-

-

-

-

-2.4

    Exchange Options

-

-

-

-

-2.4

Cash from Financing Activities

1,640.3

1,316.3

1,395.0

941.4

31.3

 

 

 

 

 

 

Foreign Exchange Effects

0.2

-0.6

-

-

-

Net Change in Cash

164.5

-112.6

428.4

389.9

-155.2

 

 

 

 

 

 

Net Cash - Beginning Balance

743.2

785.9

483.1

182.3

332.6

Net Cash - Ending Balance

907.7

673.2

911.5

572.2

177.4

 

 

 

 

Interim Cash Flows

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

30-Sep-2010

30-Jun-2010

Period Length

9 Months

6 Months

3 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1095.603455

1101.856011

1120.28956

1164.307745

1155.056202

 

 

 

 

 

 

Net Income

433.0

554.8

238.2

524.0

326.8

    Depreciation

475.4

317.4

155.4

251.0

163.2

    Amortization of Intangible Assets

1.2

0.8

0.4

0.8

0.5

    Depreciation-Investment Real Estate

0.2

0.2

0.1

0.1

0.1

    Expenses of Allowance for Doubtful Accou

-

-

-

0.6

-

    Retirement and Severance Benefits

32.5

21.6

10.6

27.5

18.5

    Interest Expenses

280.5

181.6

87.2

135.3

84.2

    Corporate Taxes

94.4

144.0

66.3

74.4

31.2

    Losses on Foreign Currency Translation,

4.0

1.4

2.3

1.7

1.9

    Losses on Foreign Currency Translation,

262.1

15.0

15.4

33.7

105.2

    Losses on Valuation of Derivatives

-

2.8

1.4

1.6

-

    Losses on Sale of Property, Plant and Eq

1.5

1.5

1.5

0.7

0.7

    Loss-Disposal of Investment Real Estate

0.5

0.5

0.5

-

-

    Miscellaneous Loss

-

-

-

0.0

0.0

    Adjustment for Added Expense without Cas

0.0

0.0

0.0

-

0.0

    Interest Income

-61.6

-42.6

-18.9

-48.9

-33.5

    Dividend Income

-7.7

-7.7

-7.6

-12.3

-11.0

    Gains on Foreign Currency Translation, O

-4.6

-2.0

-4.6

-87.7

-1.6

    Gains on Foreign Currency Translation, F

-6.4

-135.6

-89.7

-1.4

-58.0

    Gains on Valuations of Derivatives

-1.9

-

-

-

-2.8

    Losses on Sale of Available for Sale Sec

0.1

0.1

-

0.3

0.4

    Gains on Sale of Property, Plant and Equ

-0.3

-0.3

-0.2

0.0

0.0

    Gains on Valuation of Equity Method Secu

-15.6

-16.4

-10.8

-14.7

-11.3

    Adustment fro Deducted Incomes w/o Cash

0.0

0.0

0.0

-

0.0

    Trade and Other Receivable

-

-

-219.7

-

-

    Decrease or Increase in Trade Receivable

-254.1

-402.0

-

-336.5

-230.2

    Other Receivable

-45.9

-18.7

-

-3.8

-23.8

    Increase-Other Financial Assets

4.4

3.4

-

2.8

0.6

    Other Current Assets

-81.5

-22.8

-8.3

-20.5

16.6

    Increase-Other Non-Current Financial Ass

-25.5

-20.0

-6.7

-6.9

-3.1

    Decrease or Increase in Inventories

-404.5

-364.5

-220.7

-628.6

-490.4

    Other Non-Current Assets

0.0

0.0

0.0

-0.2

-0.2

    Trade and Other Payables

-

-

101.8

-

-

    Increase or Decrease in Trade Payables

-104.8

315.0

-

150.1

423.3

    Other Payable

-152.6

-153.3

-

-439.8

-379.4

    Other Current Liabilities

-3.9

-1.6

-8.3

-2.7

-7.7

    Other Non-current Liabilities

-

-

0.0

-

-

    Other Non-current Financial Liabilities

-

-

-

0.0

0.0

    Other Financial Liabilities

49.5

-6.6

-12.9

-2.6

-3.6

    Retirement and Severance Benefits Liabil

-4.0

-2.7

-1.2

-4.3

-3.0

    Derivatives A/L

4.5

4.4

4.4

-

-

    Cash-Interest Received

60.8

37.0

16.6

57.4

41.6

    Dividends Received

12.6

7.7

0.2

1.3

11.0

    Cash-Interest Paid

-265.1

-167.1

-58.3

-128.2

-77.7

    Cash-Tax Paid

-143.3

-85.4

-36.0

-260.4

-210.5

Cash from Operating Activities

134.0

159.9

-1.7

-736.0

-321.9

 

 

 

 

 

 

    Proceeds from Sale of Short-term Financi

1,422.0

364.9

347.7

1,853.1

1,478.6

    Decrease-Other ST Financial Assets

0.0

1.6

0.0

0.0

4.7

    Proceeds from Sale of Available for sale

1.6

0.0

-

4.6

0.0

    Proceeds from Sale of Property, Plant an

0.7

0.6

0.5

0.2

0.2

    Decrease-Intangible Assets

0.4

0.4

0.4

-

-

    Decrease-Other Non-Current Financial Ass

2.4

1.4

0.6

0.1

0.3

    Purchase of Short-term Financial Instrum

-1,480.8

-912.1

-593.6

-1,287.5

-928.1

    Increase-Other ST Financial Assets

0.0

-1.3

-

0.0

-1.0

    Increase-Other Non-Current Financial Ass

-9.2

-8.9

-0.7

-5.3

-4.4

    Purchase of Available for sale Securitie

-1.3

0.0

-0.3

-1.1

0.0

    Purchase of Investment in Affiliates

-23.8

-

-

-

-

    Purchase of Property, Plant and Equipmen

-1,024.3

-599.5

-160.0

-1,321.1

-941.3

    Purchase of Intangible Assets

-2.4

-0.7

-0.3

-0.6

-0.6

Cash from Investing Activities

-1,114.7

-1,153.6

-405.7

-757.6

-391.6

 

 

 

 

 

 

    Proceeds from Short-term Borrowings

2,404.8

2,441.2

846.3

1,762.9

1,138.6

    Proceeds from Issuance of Bonds

898.6

893.8

399.8

555.7

560.2

    Proceeds from Long-term Borrowings

235.4

206.2

47.3

575.5

356.2

    Repayments of Short-term Borrowings

-2,265.1

-2,252.3

-297.3

-764.4

-564.8

    Decrease-Current Portion of Bond

-424.4

-417.5

-406.1

-442.3

-311.7

    Dec-Current Portion of LT Borrowings

-209.1

-93.6

-56.1

-77.9

-52.4

    Payments in Dividends

-38.4

-38.2

-

-36.1

-36.3

Cash from Financing Activities

601.7

739.6

533.9

1,573.4

1,089.9

 

 

 

 

 

 

Foreign Exchange Effects

-

0.1

-0.2

0.0

0.2

Net Change in Cash

-379.0

-254.0

126.1

79.8

376.6

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

925.3

920.0

904.9

716.0

721.7

Cash and Cash Equivalent at End

546.2

666.0

1,031.0

795.8

1,098.3

    Cash Interest Paid

265.1

167.1

58.3

128.2

77.7

    Cash Taxes Paid

143.3

85.4

36.0

260.4

210.5

 

 

 Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.65

UK Pound

1

Rs.79.09

Euro

1

Rs.65.32

 

 

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

--

NB

                                       New Business

 

--

 

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.