MIRA INFORM REPORT

 

 

Report Date :

17.07.2012

 

IDENTIFICATION DETAILS

 

Name :

HONAM PETROCHEMICAL CORP

 

 

Registered Office :

Lotte Tower 395-67, Sindaebang 2-Dong, Dongjak-Gu Seoul, 156711 Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.03.1976

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Manufacture of other organic basic chemicals

 

 

No. of Employees :

1,749

 

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 :

No Complaints

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

Honam Petrochemical Corp

                                                                                                                                                    

 

Lotte Tower

395-67, Sindaebang 2-Dong, Dongjak-Gu

 

Seoul, 156711

Korea, Republic of

 

Tel:

82-2-8294114

Fax:

82-2-8431010

 

english.hpc.co.kr

 

Employees:

1,749

Company Type:

Public Subsidiary

Corporate Family:

41 Companies

Ultimate Parent:

Lotte Co Ltd

Traded:

Korea Stock Exchange:

011170

Incorporation Date:

16-Mar-1976

Auditor:

Deloitte & Touche LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2011

Reporting Currency:

South Korean Won

Annual Sales:

14,171.1  1

Net Income:

882.9

Total Assets:

9,328.7  2

Market Value:

6,508.8

 

(29-Jun-2012)

                                      

Business Description       

 

HONAM PETROCHEMICAL CORPORATION is a Korea-based company engaged in the manufacture of manufacturer of petrochemical products. The Company produces two categories of products: monomers and polymers. Its monomers include ethylene, propylene, butadiene, benzene, toluene and xylenes (BTX), pure terephthalic acid (PTA), ethylene oxide adduct (EOA), ethylene oxide glycol, styrene monomer and others. Its polymers include high density polyethylene (HDPE), low density polyethylene, linear low density polyethylene, polypropylene, polyethylene terephthalate (PET) and others. It also provide by products. The Company distributes its products within domestic market and to overseas markets. As of December 31, 2012, the Company had 78 affiliated companies. For the nine months ended 30 September 2011, Honam Petrochemical Corp.'s revenues increased 54% to W11.977T. Netincome increased 51% to W926.99B. Revenues reflect an increased demand for EG/EOA, SM, BD products and PP, PET, POP, PC products. Net income was partially offset by decreased gain on valuation of derivative assets, decreased dividend income, increased interest expense, and increased loss on foreign currency translation.

          

Industry                                                                                                                                      

 

Industry

Chemical Manufacturing

ANZSIC 2006:

1812 - Basic Organic Chemical Manufacturing

NACE 2002:

2414 - Manufacture of other organic basic chemicals

NAICS 2002:

32511 - Petrochemical Manufacturing

UK SIC 2003:

2414 - Manufacture of other organic basic chemicals

US SIC 1987:

2869 - Industrial Organic Chemicals, Not Elsewhere Classified

                      

Key Executives           

   

 

Name

Title

Su Yeong Huh

Co-President, Co-Chief Executive Officer, Director

Beom Sik Jung

Co-President, Director

Bum Shick Chong

President & Co-CEO

Won-Hui Kim

Managing Director-Finance & Accounting

Jae Woo Kim

Co-Director-Sales

 

Significant Developments                                                                           

 

Topic

#*

Most Recent Headline

Date

Officer Changes

2

Honam Petrochemical Corp. Announces Resignation of Co-CEO

23-Mar-2012

Strategic Combinations

1

Honam Petrochemical Corp. to Jointly Establish New Company

24-Aug-2011

Dividends

1

Honam Petrochemical Corp. Declares Annual Cash Dividend for FY 2011

5-Mar-2012

* number of significant developments within the last 12 months

 

             

News      

 

Title

Date

Roundup: S.Korean shares rise on institutional buying
Xinhua News Agency (480 Words)

17-Jul-2012

Indonesia Petrochemicals Report Q2 2012
Investment Weekly News (407 Words)

27-Jun-2012

Roundup: S.Korean shares fall amid concerns over Europe
Xinhua News Agency (681 Words)

30-May-2012

YNCC to cut naphtha output
Oil & Gas News (195 Words)

29-May-2012

Q3 2012 ZBB Energy Corp Earnings Conference Call - Final
FD (Fair Disclosure) Wire (8203 Words)

21-May-2012

 

    Financial Summary                                                                    

 

As of 31-Mar-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.77

2.03

Quick Ratio (MRQ)

1.23

1.20

Debt to Equity (MRQ)

0.33

0.95

Sales 5 Year Growth

22.91

1.42

Net Profit Margin (TTM) %

5.63

4.60

Return on Assets (TTM) %

8.57

3.98

Return on Equity (TTM) %

15.29

12.15

 

 

 

 

 

 

 

   Stock Snapshot                                  

 

Traded: Korea Stock Exchange: 011170

 

As of 29-Jun-2012

   Financials in: KRW

Recent Price

236,500.00

 

EPS

31,114.71

52 Week High

475,500.00

 

Price/Sales

0.48

52 Week Low

218,000.00

 

Dividend Rate

1,750.00

Avg. Volume (mil)

0.36

 

Price/Earnings

13.50

Market Value (mil)

7,534,890.00

 

Price/Book

1.38

 

 

 

Beta

1.53

 

Price % Change

Rel S&P 500%

4 Week

-1.66%

-2.69%

13 Week

-29.72%

-23.65%

52 Week

-40.20%

-32.25%

Year to Date

-20.64%

-21.85%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152

 

 

Corporate Overview

 

Location
Lotte Tower
395-67, Sindaebang 2-Dong, Dongjak-Gu
Seoul, 156711
Korea, Republic of

 

Tel:

82-2-8294114

Fax:

82-2-8431010

 

english.hpc.co.kr

Quote Symbol - Exchange

011170 - Korea Stock Exchange

Sales KRW(mil):

15,700,042.0

Assets KRW(mil):

10,746,608.0

Employees:

1,749

Fiscal Year End:

31-Dec-2011

 

Industry:

Chemical Manufacturing

Incorporation Date:

16-Mar-1976

Company Type:

Public Subsidiary

Quoted Status:

Quoted

 

Co-President, Co-Chief Executive Officer, Director:

Su Yeong Huh

 

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:

1821

-

Synthetic Resin and Synthetic Rubber Manufacturing

1812

-

Basic Organic Chemical Manufacturing

 

NACE 2002 Codes:

2414

-

Manufacture of other organic basic chemicals

2416

-

Manufacture of plastics in primary forms

 

NAICS 2002 Codes:

32511

-

Petrochemical Manufacturing

325211

-

Plastics Material and Resin Manufacturing

 

US SIC 1987:

2869

-

Industrial Organic Chemicals, Not Elsewhere Classified

2821

-

Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers

 

UK SIC 2003:

2416

-

Manufacture of plastics in primary forms

2414

-

Manufacture of other organic basic chemicals

 

 

Business Description

HONAM PETROCHEMICAL CORPORATION is a Korea-based company engaged in the manufacture of manufacturer of petrochemical products. The Company produces two categories of products: monomers and polymers. Its monomers include ethylene, propylene, butadiene, benzene, toluene and xylenes (BTX), pure terephthalic acid (PTA), ethylene oxide adduct (EOA), ethylene oxide glycol, styrene monomer and others. Its polymers include high density polyethylene (HDPE), low density polyethylene, linear low density polyethylene, polypropylene, polyethylene terephthalate (PET) and others. It also provide by products. The Company distributes its products within domestic market and to overseas markets. As of December 31, 2012, the Company had 78 affiliated companies. For the nine months ended 30 September 2011, Honam Petrochemical Corp.'s revenues increased 54% to W11.977T. Netincome increased 51% to W926.99B. Revenues reflect an increased demand for EG/EOA, SM, BD products and PP, PET, POP, PC products. Net income was partially offset by decreased gain on valuation of derivative assets, decreased dividend income, increased interest expense, and increased loss on foreign currency translation.

 

 

More Business Descriptions

Production of high-density polyethylene, polypropylene, ethylene glycol, ethylene, propylene, benzene, compound polypropylene, and other petrochemical products

 

Petrochemicals & Synthetic Resins Mfr

 

Honam Petrochemical Corporation (HPC) is a petrochemical company based in Korea. The company specializes in manufacturing basic chemicals and petrochemicals, plastics and other synthetic resin. HPC offers its products globally with key market constituting of US, China and Korea.The synthetic resin products offered by the company include high-density polyethylene (HDPE), polypropylene (PP) and polyethylene terephthalate (PET). These resins find their applications in shopping bags, boxes, containers, fibers and electronic appliances. The basic petrochemicals produced by the company include ethylene oxide, ethylene glycol, ethylene oxide adduct (EOA) and methyl methacrylate (MMA). These are used for polyester fibers, surfactants and antifreezing solutions. HPC‘s high density polyethylene is used for making general house wares, fish net, rope, insulated cable, chemical containers, automobile fuel tanks, pipes, films etc. The low density polyethylene is used for extrusion coating. Its ethylene vinyl acetate co-polymer finds its applications in wire coating, bead foam, hot melt adhesive and extrusion coating. HPC uses Basell’s Spheripol process for producing polypropylene. The company produces 3,80,000 tons of polypropylene every year. Its product line includes homo polypropylene, black copolymer and random co-polymer. Its polypropylene compound resin is used for automobiles, electronic appliances and industrial materials.The company offers functional resin called Lottmer which is a thermoplastic elastomer vulcanized material. It also produces adhesive polymer resin which can be used in making bottles, sheets, films and pipes. The company produces ethylene oxide that is used to produce glycol, glycol ether, polyethylene glycol, ethanolamine, and other derivatives, disinfectant, sterilizer and surfactant. Its basic petrochemicals include methyl methacrylate that is used as medical spray adhesive and as acrylic bone cement in orthopedic surgery.The company’s basic chemicals include benzene, toluene and mixed xylene. Benzene is used to produce synthetic resins and is used as a general solvent for food, agrichemical, photographic chemicals, explosives, insecticides etc. Toluene find its applications in producing dye, perfumes, explosives, organic pigment, and is used as a solvent for medicine, paint and ink. Mixed Xylene is also used as a solvent for paint, agrichemical and medicine. Additionally, the company manufactures synthetic paper. HPC specializes in the research and development of specialty chemicals. The company acquired Lotte Petrochemical and KP Chemical to synergize the research labs and support the existing research efforts.The company generated 21% of its total revenue from PE products, 20% from PP products, 15% from EOG, 10% from SM, 20% from NC/BTX and 14% from Others. The company holds stake in the companies of KP Chemical Corporation, SAMBARK CO.,LTD., SAMBARKLFT CO.,LTD., Titan Chemicals Corp. Bhd., Seetec, Lotte E&C. It operates business locations in many places of Korea. The company also has its operations in China, the US, Russia and Hong Kong. The company's geographic segments are divided into two, including Domestic and Export. The company generated 54% of its total revenue from Domestic segment and 46% of total revenue from Export segment. Recently, the company acquired 1,727,801,500 shares or 100% stake in Malaysia-based Titan Chemicals Corp. Bhd. In April 2011, the company stated its plans to acquire additional stake in KP chemical. In April, 2011, the company announced its intentions to establish a US-based subsidiary, HPM Alabama, which will be engaged in the manufacture of PP long chip and long fiber thermoplastic.

 

Honam Petrochemical Corporation (HPC) is petrochemicals manufacturing company based in Korea. HPC is engaged in manufacturing basic petrochemicals such as benzene, toluene and mixed xylene. The company, along with its subsidiaries, is also engaged in providing plastics, synthetics and basic chemicals. It provides high density polyethylene for the agricultural, industrial and packaging sectors. In addition, HPC offers resin products such as polypropylene for injection, blow, yarn, fiber and film. It also offers ethylene oxide that is used for producing glycol, glycol ether, polyethylene glycol, ethanolamine etc. It produces 700,000 tons of ethylene every year. HPC is headquartered at Dongjak-gu in Seoul, South Korea.The company reported revenues of (Won) KRW 15,700,041.94 million during the fiscal year ended December 2011, an increase of 47.63% over 2010. The operating profit of the company was KRW 1,491,062.56 million during the fiscal year 2011, an increase of 26.62% over 2010. The net profit of the company was KRW 978,146.49 million during the fiscal year 2011, an increase of 23.71% over 2010.

 

Petrochemical Manufacturing

 

 

 

 

 

 

 

Financial Data

 

Financials in:

KRW(mil)

 

Revenue:

15,700,042.0

Net Income:

978,146.5

Assets:

10,746,608.0

Long Term Debt:

1,554,702.3

 

Total Liabilities:

5,284,034.5

 

Working Capital:

718.6

 

 

 

Date of Financial Data:

31-Dec-2011

 

 

1 Year Growth

47.6%

23.7%

22.2%

 

Market Data

Quote Symbol:

011170

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

236,500.0

Stock Price Date:

06-29-2012

52 Week Price Change %:

-40.2

Market Value (mil):

7,534,889,984.0

 

SEDOL:

6440020

ISIN:

KR7011170008

 

Equity and Dept Distribution:

'04-'06 Financials reflect consolidated data. '96-'03 Financials reflect non-consolidated data. FY'04, C/F is not reported.

 

 

 

Subsidiaries

Company

Percentage Owned

Country

KP Chemical Corp

51.86%

SOUTH KOREA

Titan Chemicals Corporation Sdn Bhd

72.32%

MALAYSIA

Daesan Mma

 

SOUTH KOREA

 

 

 

 

 

Shareholders

 

 

Major Shareholders

Lotte Produce (33.6%); Hotel Lotte Co (13.6%); Lotte Co (Japan) (10%)

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP

 

 

 

 

 

 

 

 

Honam Petrochemical Corp

 

The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. More about Strategic Initiatives

 

Strategic Initiatives

 

Partnerships

In Australia, the key LDPE-consuming industries such as packaging, durables, construction and electrical appliances are growing at a significant rate. Such market conditions give an opportunity for HPC to increase its market share and profit margins.Business ExpansionHPC's initiatives to expand its business in new geographies could enable it to enrich its customer base. The company plans to establish a joint venture company, Uz-Kor Gas Chemical, in association with two Korea-based companies, Korea Gas Corporation holding and STX Energy Co., Ltd and a Uzbekistan-based gas company, Uzbekneftegaz. HPC holds 22.5% stake in the new company.
Source: GlobalData, June 19, 2012

 

 

 

Honam Petrochemical Corp

 

 

Strengths/Weaknesses (SWOT)

 

 

Helpful
to achieving the objective

Harmful
to achieving the objective

Internal Origin
(attributes of the organization)

Strengths

·        Focus on Research and Development

·        Strong Financial Performance

·        Comprehensive Product Line

Weaknesses

·        Debt Obligations

External Origin
(attributes of the environment)

Opportunities

·        Growing Low-density Polyethylene

·        Positive Outlook for ABS

·        Business Expansion

Threats

·        Raw Material Risks

·        Intense Competition

·        Highly Regulated Environment

 

 

Overview

 

Honam Petrochemical Corporation (HPC) is involved in manufacturing basic chemical, basic petrochemicals and resins. The main products of the company include benzene, toluene and mixed xylene, ethylene oxide, ethylene glycol, ethylene oxide adduct, high-density polyethylene, and polypropylene. Comprehensive product line and string financial performance are the key strengths of the company. However, rising debt obligations could pose challenges for the company. Nevertheless, it has growth opportunities through business expansion and growing LDPE market. However, intense competition and raw material risk could negatively affect the operations of the company.

 

Strengths

 

Focus on Research and Development

The company is principally involved in research and development activities to attain new heights in business operations. Honam’s research and development works in the chemical business area is carried out through Daeduk research institute in Daejeon. It developed various products such as plastic bumper for automobiles; adhesive polyolefin; polymer automobile fuel tank and others. It also developed the first water heating and room heating pipe in Korea. For the fiscal year 2011, the company invested around KRW29,205.74m in R&D activities, compared to KRW 22,832.49m in 2010. Honam focuses on research areas such as PO resin, EP resin, functional resin, chemical, catalyst/process and CRD. It also carries out research activities through plant research institute which incorporates process analysis lab and technical development lab. The plant research institute focuses on lead, cadmium, chromium+6 and mercury areas. Such, strong research and development activities enables the company to offer innovative products and solutions and maintain a competitive edge over its competitors.

 

Strong Financial Performance

HPC’s strong financial performance could be attributed to demand from different end markets. For the fiscal year ended December 2011, the company reported revenue of KRW 15,700,042m, an increase of 47.63 % compared to KRW10,634,785.61m in 2010. The company also reported net profit of KRW978,146.5 m in 2011, compared to KRW790,670m in 2010. Its current assets were KRW4,888,629.5m, as compared to current liabilities of KRW2,728,480m. The company's current ratio was 1.79 at the end of fiscal year 2011. The high current ratio indicates that the company is in a strong financial position and is more capable of meeting its short term obligations. Such strong financial performance would further help the company to expand its business operations.

 

Comprehensive Product Line

HPC's broad range of products helps it serving a wide range of customers. The company offers its products through three product lines, namely, basic chemicals, basic petrochemicals and resins. The basic chemicals offered by the company include benzene, toluene and mixed xylene. The basic petrochemicals produced by the company include ethylene oxide, ethylene glycol, ethylene oxide adduct (EOA) and methyl methacrylate (MMA). The synthetic resin products offered by the company include high-density polyethylene (HDPE), polypropylene (PP) and polyethylene terephthalate (PET). The products of the company are used for manufacturing shopping bags, boxes, containers, fibers and electronic appliances, polyester fibers, surfactants and anti freezing solutions, general house wares, fish net, rope, insulated cable, chemical containers, automobile fuel tanks, pipes, films etc. Its adhesive polymer resin is used in making bottles, sheets, films and pipes. The ethylene oxide produced by the company is used to produce glycol, glycol ether, polyethylene glycol, ethanolamine, and other derivatives, disinfectant, sterilizer and surfactant. Its basic petrochemical products are also used in medical spray adhesive and acrylic bone cement in orthopedic surgery. Its high density polyethylene is used for the agricultural, industrial and packaging sectors. Such broad range of products reduces the business risk of the company.

 

 

Weaknesses

 

Debt Obligations

For the fiscal year 2011, the company recorded a total debt of KRW 1,857,761.53m. It total long-term debt witnessed an increase of 28.5% over 2010. This could impair its ability to obtain financing for working capital, capital expenditures or general corporate purposes, especially if the ratings assigned to its debt securities by rating organizations were revised downward. It could restrict the flexibility of the company in responding to changing market conditions and make it more vulnerable during times of slowdown. Another major consequence of the company's indebtedness would be that the company would require allocate a substantial portion of the cash flow from operations to pay the principal and interest on debt, thereby reducing funds which could be used for expansion through acquisitions, on marketing and the expansion of product offerings.

 

 

Opportunities

 

Growing Low-density Polyethylene

The world market for low-density polyethylene (LDPE) is witnessing stable growth. The global LDPE demand increased from 11.15 million metric ton per annum (mmtpa) in 2000 to 14.31 mmtpa in 2010. According to industry estimates, the demand is expected to increase at a CAGR of around 4.5% to reach 17.86 mmtpa by 2015. The demand is driven mostly by Asian countries such as China and India which are expected to account for 40% of the global consumption. Furthermore, the Middle East region is expected to witness expansion of LDPE production capacity to nearly 3.5 million tons by 2014. In Australia, the key LDPE-consuming industries such as packaging, durables, construction and electrical appliances are growing at a significant rate. Such market conditions give an opportunity for HPC to increase its market share and profit margins.

 

Positive Outlook for ABS

As a part of petrochemicals, the company offers styrene monomer, which is widely applicable in EPS, ABS, UPR and other applications. Acrylonitrile-Butadiene-Styrene (ABS) is widely used as economical engineering plastic that incorporates chemical resistance, hardness, toughness, impact strength, gloss and other capabilities. The company provides a wide range of basic petrochemcial products that are applicable in computer hardware, tool boxes, clock, video cassettes and motorcycle parts. According to industry estimates, ABS demand totaled 6.4 million tons in 2010. It is expected to be one of three largest volume engineering plastics, accounting for more than three-quarters of total demand in 2012. The global market for ABS is estimated to grow at CAGR of 5.6% during 2010-2020 to reach 10.9 million tons. Among the key markets, Asia Pacific, primarily China, is projected to account for more than 80% of global ABS demand in 2020. Such market scenario gives an opportunity for the company to increase its market share and revenue.

 

Business Expansion

HPC's initiatives to expand its business in new geographies could enable it to enrich its customer base. The company plans to establish a joint venture company, Uz-Kor Gas Chemical, in association with two Korea-based companies, Korea Gas Corporation holding and STX Energy Co., Ltd and a Uzbekistan-based gas company, Uzbekneftegaz. HPC holds 22.5% stake in the new company. In April 2011, the company also confirmed its plans to establish a new subsidiary HPM Alabama in the US. The new subsidiary is planned to produce Polypropylene long chip and long fiber thermoplastics. Establishment of the new subsidiary could enable the company to explore the polypropylene market in the US. It also plans to invest in KP Chemical Corporation to expand its petrochemicals business in Asia Pacific in order to compete with other countries in the region. Different expansion plans of HPC could enable it to diversify its business risk and reduce over-dependence on a particular geography.

 

 

Threats

 

Raw Material Risks

Fluctuation in the prices of raw materials used by HPC will have an adverse effect on its profitability. Raw material cost constitutes the biggest cost factor for the company. The crude oil-based products are susceptible to substantial price fluctuations. Its key product such as polypropylene, benzene, Xylene and toluene are produced from crude oil. These price fluctuations could be subject to political instability, terrorist attacks or other hostilities. Other supply and demand factors influencing price fluctuations include production quotas, worldwide requirement of petroleum products or blackout of production facilities. The prices and availability of these raw materials might fluctuate from time to time due to global market demands. Any reduction in the supply or increase in the cost of the raw materials might hamper the company's ability to develop its products and increase the cost of production.

 

Intense Competition

The company operates in a highly competitive petrochemical industry. It operates in a progressively more complex and challenging chemical marketplace whose dynamics is ever-changing. Technological advances by any player in the market could render its present or future products obsolete or uneconomical. The existing market includes companies of varying sizes; some more specialized than the company with respect to particular commodities, and some with greater financial resources than the company. Currently, its major competitors include LG International, Kumho Petrochemical, Yeochun NCC and others. It competes on the basis of many factors, including price, quality, innovation, service, reputation, distribution and promotion. Such increased competition may lead the company to reduce its prices, therefore negatively affecting its margins.

 

Highly Regulated Environment

HPC could be affected by the environmental regulations governing the global chemical industry. In Korea, its operations are subjected to restrictions and investigations under various laws and policies such as Korea Toxic Chemicals Control Act, Industrial Safety and Health Act (ISHA) and Korea Existing Chemical Inventory (KECI). Additionally, it is likely to be affected by Korean REACH, which comes into effect by 2013. Further, China has its own version of REACH. REACH (Registration Evaluation and Authorization of Chemicals) is an example of the stringent environmental regulations that are set to affect chemical producers. It regulates products manufactured and marketed in the country. This will prove to be a challenge while launching new products as it is a time-consuming and expensive process. It may also result in phasing out many existing chemicals from the market, which may be regarded as toxic and hazardous. Such regulations are set to get tightened in the coming years, affecting both the existing and new products.

 

 

Corporate Structure News

 

Honam Petrochemical Corp
Total Corporate Family Members: 41

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Lotte Co Ltd

Parent

Tokyo

Japan

Food Processing

6,180.3

4,900

Lotte Co., Ltd.

Subsidiary

Tokyo

Japan

Food Processing

4,308.9

3,350

Lotte Shopping Company Limited

Subsidiary

Seoul

Korea, Republic of

Retail (Department and Discount)

20,086.0

24,271

Lotte Shopping Indonesia, PT

Subsidiary

Jakarta Timur

Indonesia

Retail (Grocery)

 

1,500

CTA Makro Commercial Co. Ltd.

Subsidiary

Beijing

China

Retail (Grocery)

 

 

Lotte Confectionery Co Ltd

Subsidiary

Seoul

Korea, Republic of

Food Processing

1,673.6

4,203

Lotte Chilsung Beverage Co Ltd

Subsidiary

Seoul

Korea, Republic of

Beverages (Non-Alcoholic)

1,884.0

5,040

Lotte Asahi Liquor Co., Ltd.

Subsidiary

Seoul, Seoul

Korea, Republic of

Beverages (Alcoholic)

51.2

 

Lotte Aluminum Co Ltd

Subsidiary

Seoul

Korea, Republic of

Miscellaneous Fabricated Products

929.2

1,278

Lotte Samkang Co Ltd

Subsidiary

Seoul

Korea, Republic of

Food Processing

854.7

1,179

Wellga Inc.

Subsidiary

Kwangmyung, Kyonggi-Do

Korea, Republic of

Food Processing

98.0

113

Lotte Ham Co Ltd

Subsidiary

Seoul

Korea, Republic of

Food Processing

411.5

694

Lotte India Corporation Ltd.

Subsidiary

Chennai

India

Food Processing

34.1

646

Kirin Company Limited

Subsidiary

Gijang-Gun

Korea, Republic of

Food Processing

70.5

534

Chocolaterie Guylian

Subsidiary

Sint-Niklaas

Belgium

Food Processing

104.9

202

Guylian (UK) Ltd

Subsidiary

Kidlington

United Kingdom

Food Processing

21.2

6

Guylian USA Inc

Subsidiary

Englewood Cliffs, NJ

United States

Miscellaneous Capital Goods

3.8

4

LOTTE Engineering & Construction Co.,Ltd

Subsidiary

Seoul

Korea, Republic of

Construction Services

3,169.3

 

Lotte Engineering & Construction Co., Ltd.

Branch

Shibuya-Ku, Tokyo

Japan

Construction Services

3,002.9

3,266

Lotte International Company Limited

Subsidiary

Seoul

Korea, Republic of

Consumer Financial Services

871.2

 

Korea Fuji Film Co., Ltd.

Subsidiary

Seoul, Seoul

Korea, Republic of

Photography

156.7

 

Lotteria Company Limited

Subsidiary

Seoul

Korea, Republic of

Food Processing

216.3

 

Lotte Electronics Company Limited

Subsidiary

Seoul

Korea, Republic of

Electronic Instruments and Controls

1.0

 

Pt Lotte Shopping Indonesia

Subsidiary

Jakarta Timur

Indonesia

Food Processing

 

2,300

Honam Petrochemical Corp

Subsidiary

Seoul

Korea, Republic of

Chemical Manufacturing

14,171.1

1,749

Titan Chemicals Corporation Sdn Bhd

Subsidiary

Kuala Lumpur

Malaysia

Chemical Manufacturing

1,591.4

1,005

KP Chemical Corp

Subsidiary

Ulsan

Korea, Republic of

Chemical Manufacturing

4,188.4

619

Lotte Pakistan PTA Limited

Subsidiary

Karachi

Pakistan

Chemical Manufacturing

666.8

227

K.P. Chemtech Corp.

Subsidiary

Ulsan

Korea, Republic of

Chemicals - Plastics and Rubber

189.5

111

Dacc Aerospace Co., Ltd.

Subsidiary

Chollabuk-Do

Korea, Republic of

Aerospace and Defense

5.1

122

Lotte Midopa Co Ltd.

Subsidiary

Seoul

Korea, Republic of

Retail (Department and Discount)

366.3

134

Chiba Lotte Marines Co., Ltd.

Subsidiary

Chiba

Japan

Recreational Activities

1.0

50

Lotte U.S.A., Inc.

Subsidiary

Battle Creek, MI

United States

Food Processing

5.7

13

Lotte Hotel Company Limited

Subsidiary

Seoul

Korea, Republic of

Hotels and Motels

1,324.1

 

Lotte Bussan Company Limited

Subsidiary

Tokyo

Japan

Food Processing

1.0

 

Lotte Stone Foods Co., Limited

Subsidiary

Beijing

China

Food Processing

1.0

 

Lotte Wedel Sp. z.o.o.

Subsidiary

Warszawa

Poland

Food Processing

65.0

1,190

Busan Lotte Hotel Co., Ltd.

Subsidiary

Pusan, Pusan

Korea, Republic of

Hotels and Motels

254.6

815

Mary Chocolate Co., Ltd.

Subsidiary

Tokyo

Japan

Food Processing

178.2

725

Lotte Shoji K.K.

Subsidiary

Shinjuku-Ku, Tokyo

Japan

Food Processing

1,685.5

 

Lotte Ice Cream Co.,Ltd.

Subsidiary

Shinjuku-Ku, Tokyo

Japan

Food Processing

738.5

 

 

 

 

Honam Petrochemical Corp

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

Daelim Industrial Co., Ltd.

Seoul, Korea, Republic of

4,946

Public

Hyosung Corp

Seoul, Korea, Republic of

7,924

Public

Kumho Petro Chemical Co Ltd

Seoul, Korea, Republic of

1,328

Public

LG International Corp

Seoul, Korea, Republic of

705

Public

S-Oil Corp

Seoul, Korea, Republic of

2,645

Public

Yeochun NCC Co Ltd

Seoul, Korea, Republic of

840

Private

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

 

Dong Bin Shin

 

Chairman of the Board, Co-Chief Executive Officer

Chairman

 

Biography:

Shin Dong Bin is Chairman of the Board and Co-Chief Executive Officer of HONAM PETRO CHEMICAL CORPORATION. Shin also serves as Chairman of the Board in Lotte Group. Shin was Vice Chairman of the Board and Assistant Managing Director in the Company and Vice Chairman of the Board of Lotte Group. Shin received a Bachelor's degree in Economics from Aoyama Gakuin University in 1977, Japan, and a Master of Business Administration (MBA) from Columbia University in 1980, the United States.

 

Age: 57

 

Education:

Columbia University, MBA
Aoyama Gakuin University, B (Economics)

 

Seung Sik Cho

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Cho Seung Sik has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 19, 2010. Previously, Cho is also a lawyer in a Korea-based law firm. Cho holds a Bachelor's degree in Law from Seoul National University, Korea.

 

Age: 60

 

Education:

Seoul National University, B (Law)

 

Tae Hyeon Choi

 

Managing Director

Director/Board Member

 

 

Biography:

Choi Tae Hyeon is Managing Director of HONAM PETRO CHEMICAL CORPORATION. Choi also serves as Head-Polymers Business Division of the Company. Prior to the current position, Choi was Assistant Managing Director and Director of the Company. Cho holds a Bachelor's degree in Chemical Engineering from Yonsei University, Korea.

 

Age: 58

 

Education:

Yonsei University, B (Chemical Engineering)

 

Dong Hwa Geum

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Geum Dong Hwa has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 23, 2012. Currently, Geum is also a research fellow at Korea Institute of Science and Technology. Geum was President of Korea Institute of Science and Technology. Geum holds a Doctorate's degree in Materials Engineering from Stanford University, the United States.

 

Age: 60

 

Education:

Stanford University, PHD (Materials Engineering)

 

Su Yeong Huh

 

Co-President, Co-Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Huh Su Yeong has been serving as Co-President, Co-Chief Executive Officer and Director of HONAM PETRO CHEMICAL CORPORATION since February 22, 2012. Huh used to serve as Managing Director of the Company and Chief Executive Officer of Lotte Daesan Petrochemical Corporation and another company. Huh received a Bachelor's degree in Chemical Engineering from Seoul National University, Korea.

 

Age: 60

 

Education:

Seoul National University, B (Chemical Engineering)

 

Myeong Cheon Hwang

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Hwang Myeong Cheon has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 19, 2010. Currently, Hwang is also an adviser of CPR. Hwang holds a Bachelor's degree in Law from Sungkyunkwan University, Korea.

 

Age: 60

 

Education:

Sungkyunkwan University, B (Law)

 

Beom Sik Jung

 

Co-President, Director

Director/Board Member

 

 

Biography:

Jung Beom Sik has been Co-President and Director of HONAM PETRO CHEMICAL CORPORATION since March 23, 2012. Jung used to serve as Co-Chief Executive Officer and Vice President of the Company and Chief Executive Officer of Lotte Daesan Petrochemical Co., Ltd. Jung received a Bachelor's degree in Chemical Engineering from Seoul National University, Korea.

 

Age: 63

 

Education:

Seoul National University, B (Chemical Engineering)

 

Hae Wang Jung

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Jung Hae Wang has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 18, 2011. Jung is also Non-Executive Independent Director in Hana Financial Group Inc. Jung holds a Doctorate's degree in Business Administration from State University of New York at Buffalo, the United States, and a Master's as well as a Bachelor's degrees in Business Administration from Seoul National University, Korea.

 

Age: 65

 

Education:

State University of New York at Buffalo, PHD (Business Administration)
Seoul National University, M (Business Administration)
Seoul National University, B (Business Administration)

 

Hwa Yong Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Kim Hwa Yong has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 23, 2007. Currently, Kim served as a professor of School of Chemical and Biological Engineering at Seoul National University, Korea. Kim holds a Bachelor's degree in Chemical Engineering from Seoul National University, Korea and a Doctorate's degree in Chemical Engineering from Purdue University, the United States.

 

Age: 62

 

Education:

Purdue University, DS (Chemical Engineering)
Seoul National University, B (Chemical Engineering)

 

Yong-Gyu Kim

 

Board Member

Director/Board Member

 

 

Gyeong Ha Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Kim Gyeong Ha has been Non-Executive Independent Director of HONAM PETRO CHEMICAL CORPORATION since March 23, 2012. Kim was Director of LOTTE MART. Kim also worked for LOTTE SHOPPING. Kim holds a Bachelor's degree in Agricultural Education from Seoul National University, Korea.

 

Age: 59

 

Education:

Seoul National University, B

 

Hong-Bae Kim

 

Board Member

Director/Board Member

 

 

Tae-Yeong Son

 

Board Member

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Bum Shick Chong

 

President & Co-CEO

Chief Executive Officer

 

Su Yeong Huh

 

Co-President, Co-Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Huh Su Yeong has been serving as Co-President, Co-Chief Executive Officer and Director of HONAM PETRO CHEMICAL CORPORATION since February 22, 2012. Huh used to serve as Managing Director of the Company and Chief Executive Officer of Lotte Daesan Petrochemical Corporation and another company. Huh received a Bachelor's degree in Chemical Engineering from Seoul National University, Korea.

 

Age: 60

 

Education:

Seoul National University, B (Chemical Engineering)

 

Beom-Sik Jeong

 

President/CEO-Business Affairs

Chief Executive Officer

 

 

Age: 62

 

Dong Bin Shin

 

Chairman of the Board, Co-Chief Executive Officer

Chief Executive Officer

 

 

Biography:

Shin Dong Bin is Chairman of the Board and Co-Chief Executive Officer of HONAM PETRO CHEMICAL CORPORATION. Shin also serves as Chairman of the Board in Lotte Group. Shin was Vice Chairman of the Board and Assistant Managing Director in the Company and Vice Chairman of the Board of Lotte Group. Shin received a Bachelor's degree in Economics from Aoyama Gakuin University in 1977, Japan, and a Master of Business Administration (MBA) from Columbia University in 1980, the United States.

 

Age: 57

 

Education:

Columbia University, MBA
Aoyama Gakuin University, B (Economics)

 

Beom Sik Jung

 

Co-President, Director

President

 

 

Biography:

Jung Beom Sik has been Co-President and Director of HONAM PETRO CHEMICAL CORPORATION since March 23, 2012. Jung used to serve as Co-Chief Executive Officer and Vice President of the Company and Chief Executive Officer of Lotte Daesan Petrochemical Co., Ltd. Jung received a Bachelor's degree in Chemical Engineering from Seoul National University, Korea.

 

Age: 63

 

Education:

Seoul National University, B (Chemical Engineering)

 

Hyun Sung Chang

 

Co-General Manager-Product

Division Head Executive

 

 

You Soo Kim

 

Co-General Manager-Product

Division Head Executive

 

 

Ahn Ki Lee

 

Managing Director-PE BU

Division Head Executive

 

 

Se Il Park

 

General Manager-Product Management

Division Head Executive

 

 

Ju Seok Ahn

 

Assistant Managing Director

Managing Director

 

 

Age: 59

 

Education:

Yeungnam University, B (Chemical Engineering)

 

Kim Chang-Gyu

 

Managing Director

Managing Director

 

Age: 56

 

Tae-Hyeon Choi

 

Managing Director & Director-PP

Managing Director

 

Age: 57

 

Chang Su Choi

 

Assistant Managing Director

Managing Director

 

Biography:

Choi Chang Su is Assistant Managing Director of HONAM PETRO CHEMICAL CORPORATION. Choi currently also serves as Head-Polymers Division of the Company. Previously, Choi was Director of Lotte Daesan Petrochemical Corporation. Choi received a Bachelor's degree in Industrial Chemistry from Seoul National University, Korea.

 

Age: 55

 

Education:

Seoul National University, B

 

Tae Hyeon Choi

 

Managing Director

Managing Director

 

Biography:

Choi Tae Hyeon is Managing Director of HONAM PETRO CHEMICAL CORPORATION. Choi also serves as Head-Polymers Business Division of the Company. Prior to the current position, Choi was Assistant Managing Director and Director of the Company. Cho holds a Bachelor's degree in Chemical Engineering from Yonsei University, Korea.

 

Age: 58

 

Education:

Yonsei University, B (Chemical Engineering)

 

Su-Beom Han

 

Managing Director & Manager-Production

Managing Director

 

 

Gyo Hyeon Kim

 

Managing Director

Managing Director

 

 

Age: 54

 

Education:

Chung-Ang University, B (Chemical Engineering)

 

Chang Gyu Kim

 

Managing Director

Managing Director

 

Biography:

Kim Chang Gyu is Managing Director of HONAM PETRO CHEMICAL CORPORATION. Prior to the current position, Kim was Assistant Managing Director of the Company. Kim used to serve as Director of Hyundai Petrochemical Co. Kim holds a Bachelor's degree in Chemistry from Seoul National University, Korea.

 

Age: 57

 

Education:

University of South Carolina, PHD (Chemical Engineering)
University of South Carolina, M (Chemical Engineering)
Seoul National University, B (Chemistry)

 

Won-Hui Kim

 

Managing Director-Finance & Accounting

Managing Director

 

Sang Won Lee

 

Assistant Managing Director

Managing Director

 

Biography:

Lee Sang Won is Assistant Managing Director of HONAM PETRO CHEMICAL CORPORATION. Lee was previously Assistant Managing Director of Lotte Daesan Petrochemical Corporation. Lee holds a Bachelor's degree in Economics from Kookmin University, Korea.

 

Age: 55

 

Education:

Kookmin University, B (Economics)

 

Jong Geol Lee

 

Managing Director

Managing Director

 

Biography:

Lee Jong Geol is Managing Director of HONAM PETRO CHEMICAL CORPORATION. Previously, Lee worked for LOTTE GROUP. Lee received a Bachelor's degree in Law from Korea University in 1975.

 

Age: 59

 

Education:

Korea University, B (Law)

 

Hong Yeol Lee

 

Managing Director

Managing Director

 

Biography:

Lee Hong Yeol is Managing Director of HONAM PETRO CHEMICAL CORPORATION. Lee also serves as Head-Production Division of the Company. Lee previously served as Assistant Managing Director of the Company. Lee holds a Bachelor's degree in Mechanical Engineering from Pusan National University, Korea.

 

Age: 54

 

Education:

Pusan National University, B (Mechanical Engineering)

 

Hong-Ryeol Lee

 

Managing Director & Director-Yeosu Factory

Managing Director

 

 

Jeong Pyo Lee

 

Managing Director

Managing Director

 

 

Seong Yeop Oh

 

Assistant Managing Director

Managing Director

 

 

Age: 51

 

Education:

Chung-Ang University, B (Chemical Engineering)

 

Wu Sin Park

 

Assistant Managing Director

Managing Director

 

Age: 54

 

Education:

Sungkyul University, B (Law)

 

Woo Sin Park

 

Director-General Affairs

Managing Director

 

 

Jae Yun Seo

 

Assistant Managing Director

Managing Director

 

 

Age: 53

 

Education:

Seoul National University, B (Chemistry)

 

Oh Seong-Yeop

 

Assistant Managing Director

Managing Director

 

Young Moon Mo

 

Director-Administration

Administration Executive

 

Bu Ok Jeong

 

Human Resources Director

Human Resources Executive

 

Boo Ok Jung

 

Director-Human Resources

Human Resources Executive

 

Jae Woo Kim

 

Co-Director-Sales

Sales Executive

 

Myung-Ho Park

 

Co-Director-Sales

Sales Executive

 

Jung Soo Kim

 

Director-Research & Development

Research & Development Executive

 

Kyo Hyun Kim

 

Director-Business Development

Business Development Executive

 

Young Jin Lee

 

Director-New Business

Business Development Executive

 

Nam Sik Choi

 

Director-Construction

Manufacturing Executive

 

Tae Jae Choi

 

Director-Production

Manufacturing Executive

 

Myung Jin Chun

 

Director-Plant

Manufacturing Executive

 

 

Yun Gyung Ho

 

Manager-Privacy Policy

Other

 

 

 

 

 

 

 

Honam Petrochemical Corp

 

 

 

Significant Developments

 

 

 

Honam Petrochemical Corp. Announces Resignation of Co-CEO

Mar 23, 2012


Honam Petrochemical Corp. announced that its Co-Chief Executive Officer (Co-CEO) Jung Beom Sik has resigned from the Company, effective March 23, 2012. The current Co-CEOs Shin Dong Bin and Huh Su Yeong, will continue the duty as Chief Executive Officers at the Company.

Honam Petrochemical Corp. Declares Annual Cash Dividend for FY 2011

Mar 05, 2012


Honam Petrochemical Corp. announced that it has declared an annual cash dividend of KRW 1,750 per share of common stock to shareholders of record on December 31, 2011 for the fiscal year 2011. The dividend rate of market price is 0.6% and the total amount of the cash dividend is KRW 55,755 million.

Honam Petrochemical Corp. Appoints New Co-CEO

Feb 22, 2012


Honam Petrochemical Corp. announced that it has appointed Huh Su Yeong as its new Co-Chief Executive Officer, effective February 22, 2012. Its current Co-Chief Executive Officer, Shin Dong Bin and Jung Beom Sik continue their duty as Co-Chief Executive Officer.

Honam Petrochemical Corp. to Jointly Establish New Company

Aug 24, 2011


Honam Petrochemical Corp. announced that it will establish a joint venture, Uz-Kor Gas Chemical, with two Korea-based companies and a Uzbekistan-based gas company, Uzbekneftegaz, with a registered capital of USD 20 million. The new entity will be mainly engaged in the gas field development. The Company will hold a 22.5% stake in the new venture with KoreaGasCorporation holding 22.5% stake, STX Energy Co., Ltd. holding 5% stake, as well as Uzbekneftegaz holding 50% stake.

 

 

 

 

Annual Income Statement

 

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Total Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

 

 

 

 

 

 

    Cost of Revenue

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

Cost of Revenue, Total

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

Gross Profit

1,709.0

1,320.1

990.2

247.2

753.1

 

 

 

 

 

 

    Selling/General/Administrative Expense

272.9

206.7

156.2

169.5

164.8

    Labor & Related Expense

75.6

49.2

39.1

34.3

40.1

    Advertising Expense

2.5

1.5

1.1

0.9

0.8

Total Selling/General/Administrative Expenses

351.0

257.5

196.5

204.7

205.7

Research & Development

26.4

19.7

14.1

12.0

15.6

    Depreciation

4.0

2.4

2.5

3.1

3.5

    Amortization of Intangibles

2.3

3.1

2.1

2.0

7.2

Depreciation/Amortization

6.3

5.5

4.5

5.1

10.7

        Investment Income - Operating

1.2

5.3

-

-

-

    Interest/Investment Income - Operating

1.2

5.3

-

-

-

Interest Expense (Income) - Net Operating Total

1.2

5.3

-

-

-

    Impairment-Assets Held for Use

11.9

7.2

-

-

-

    Loss (Gain) on Sale of Assets - Operating

4.0

-12.3

-

-

0.3

    Other Unusual Expense (Income)

0.1

0.0

-

-

-

Unusual Expense (Income)

16.0

-5.1

-

-

0.3

    Other Operating Expense

15.6

43.9

-

-

-

    Other, Net

-53.3

-25.1

-

-

-

Other Operating Expenses, Total

-37.7

18.8

-

-

-

Total Operating Expense

12,825.2

8,179.0

5,959.2

6,848.5

6,105.8

 

 

 

 

 

 

Operating Income

1,345.9

1,018.4

775.1

25.3

520.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-71.3

-46.1

-45.1

-31.5

-14.0

    Interest Expense, Net Non-Operating

-71.3

-46.1

-45.1

-31.5

-14.0

        Interest Income - Non-Operating

43.3

44.2

31.1

38.6

48.7

        Investment Income - Non-Operating

59.9

13.3

22.6

-61.6

105.6

    Interest/Investment Income - Non-Operating

103.2

57.6

53.7

-23.1

154.3

    Interest Income (Expense) - Net Non-Operating

-

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

31.9

11.5

8.6

-54.5

140.3

Gain (Loss) on Sale of Assets

-

-

-1.1

-3.4

5.3

    Other Non-Operating Income (Expense)

-

-0.4

38.1

-28.8

0.5

Other, Net

-

-0.4

38.1

-28.8

0.5

Income Before Tax

1,377.8

1,029.5

820.8

-61.4

666.9

 

 

 

 

 

 

Total Income Tax

355.5

251.1

94.9

-25.0

139.5

Income After Tax

1,022.3

778.4

725.9

-36.4

527.4

 

 

 

 

 

 

    Minority Interest

-139.4

-94.6

-72.5

-5.9

-28.8

    Equity In Affiliates

-

-

-28.3

0.0

-

Net Income Before Extraord Items

882.9

683.8

625.1

-42.3

498.6

Net Income

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Basic/Primary EPS Incl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Dilution Adjustment

0.0

0.0

-

0.0

-

Diluted Net Income

882.9

683.8

625.1

-42.3

498.6

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Diluted EPS Incl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Dividends per Share - Common Stock Primary Issue

1.58

1.30

1.18

0.23

1.08

Gross Dividends - Common Stock

50.3

41.3

37.4

7.2

34.3

Interest Expense, Supplemental

71.3

46.1

45.1

31.5

14.0

Interest Capitalized, Supplemental

-13.8

-4.2

-

-

-

Depreciation, Supplemental

339.1

262.8

242.4

294.4

395.8

Total Special Items

16.0

-5.1

-19.0

-4.9

-5.2

Normalized Income Before Tax

1,393.8

1,024.3

801.8

-66.3

661.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

4.1

-1.3

0.1

1.2

-1.0

Inc Tax Ex Impact of Sp Items

359.7

249.8

95.0

-23.8

138.4

Normalized Income After Tax

1,034.1

774.5

706.9

-42.5

523.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

894.8

679.9

606.0

-48.4

494.4

 

 

 

 

 

 

Basic Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Diluted Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Amort of Acquisition Costs, Supplemental

-

-

-20.0

-8.3

-0.3

Amort of Intangibles, Supplemental

2.6

3.3

1.9

2.1

3.5

Rental Expenses

7.3

4.3

3.3

4.3

4.9

Advertising Expense, Supplemental

2.5

1.5

1.1

0.9

0.8

Research & Development Exp, Supplemental

26.4

19.7

14.1

12.0

15.6

Normalized EBIT

1,363.1

1,018.6

775.1

25.3

521.2

Normalized EBITDA

1,704.8

1,284.7

999.5

313.6

920.2

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

1,086.2

467.3

593.7

300.3

292.9

    Short Term Investments

484.8

566.8

699.2

189.4

462.0

Cash and Short Term Investments

1,570.9

1,034.1

1,293.0

489.7

754.9

        Accounts Receivable - Trade, Gross

1,398.3

1,086.7

742.1

392.2

673.1

        Provision for Doubtful Accounts

-4.5

-4.8

-7.8

-5.0

-9.3

    Trade Accounts Receivable - Net

1,399.8

1,086.1

740.5

392.3

669.8

    Other Receivables

61.5

68.7

81.2

22.9

47.0

Total Receivables, Net

1,461.3

1,154.8

821.6

415.2

716.8

    Inventories - Finished Goods

541.4

449.5

173.6

186.7

230.6

    Inventories - Work In Progress

141.4

149.0

99.9

86.3

147.3

    Inventories - Raw Materials

255.1

235.3

123.6

134.9

184.4

    Inventories - Other

228.6

176.8

89.2

45.7

62.2

Total Inventory

1,166.6

1,010.7

486.2

453.7

624.6

Prepaid Expenses

43.1

37.2

6.6

13.1

8.5

    Deferred Income Tax - Current Asset

-

-

0.4

6.6

1.1

    Other Current Assets

1.8

62.4

19.8

29.3

-

Other Current Assets, Total

1.8

62.4

20.2

36.0

1.1

Total Current Assets

4,243.6

3,299.2

2,627.6

1,407.7

2,105.9

 

 

 

 

 

 

        Buildings

821.2

783.1

704.0

615.3

632.4

        Land/Improvements

388.9

396.0

401.7

261.6

307.8

        Machinery/Equipment

6,754.0

6,636.7

4,772.0

3,823.3

3,984.0

        Construction in Progress

756.5

405.4

132.4

97.2

911.3

        Leases

4.4

-

-

-

-

        Other Property/Plant/Equipment

152.5

183.5

133.3

108.1

70.7

    Property/Plant/Equipment - Gross

8,877.6

8,404.6

6,143.4

4,905.5

5,906.2

    Accumulated Depreciation

-5,138.2

-5,115.7

-3,952.0

-2,974.7

-3,673.3

Property/Plant/Equipment - Net

3,739.4

3,288.9

2,191.4

1,930.8

2,232.9

Goodwill, Net

16.7

38.9

-65.0

-35.0

3.3

Intangibles, Net

17.5

15.4

10.5

3.2

5.6

    LT Investment - Affiliate Companies

942.0

762.6

764.6

564.1

671.5

    LT Investments - Other

151.3

122.4

76.3

63.6

32.4

Long Term Investments

1,093.3

885.0

840.9

627.7

703.9

Note Receivable - Long Term

7.1

6.0

4.6

16.0

16.7

    Deferred Income Tax - Long Term Asset

121.8

132.6

-

32.9

52.2

    Other Long Term Assets

89.3

81.5

51.3

85.7

24.2

Other Long Term Assets, Total

211.0

214.1

51.3

118.6

76.3

Total Assets

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

Accounts Payable

1,544.4

1,026.0

913.7

402.9

847.9

Accrued Expenses

8.0

12.6

28.1

7.0

2.7

Notes Payable/Short Term Debt

154.7

116.9

78.1

422.1

87.5

Current Portion - Long Term Debt/Capital Leases

108.4

343.4

117.6

23.8

-

    Customer Advances

20.7

25.9

6.1

6.0

2.1

    Security Deposits

-

-

0.0

0.0

0.1

    Income Taxes Payable

183.8

190.2

27.7

6.1

54.9

    Other Payables

219.5

249.5

148.2

112.2

333.1

    Deferred Income Tax - Current Liability

-

-

7.4

47.0

2.7

    Other Current Liabilities

128.9

82.6

11.4

7.8

7.3

Other Current liabilities, Total

553.0

548.1

200.9

179.2

400.0

Total Current Liabilities

2,368.5

2,047.1

1,338.4

1,035.0

1,338.2

 

 

 

 

 

 

    Long Term Debt

1,349.1

976.4

504.0

400.8

84.8

    Capital Lease Obligations

0.4

2.5

4.2

-

-

Total Long Term Debt

1,349.6

978.9

508.2

400.8

84.8

Total Debt

1,612.6

1,439.2

703.9

846.7

172.3

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

181.2

159.5

159.1

92.5

245.3

Deferred Income Tax

181.2

159.5

159.1

92.5

245.3

Minority Interest

603.5

483.3

369.7

245.6

321.7

    Reserves

0.6

6.7

0.5

0.4

0.5

    Pension Benefits - Underfunded

23.9

19.2

19.3

15.3

16.6

    Other Long Term Liabilities

59.5

70.8

67.5

53.9

64.4

Other Liabilities, Total

84.1

96.8

87.4

69.6

81.5

Total Liabilities

4,586.8

3,765.6

2,462.7

1,843.4

2,071.5

 

 

 

 

 

 

    Common Stock

138.3

140.4

136.8

126.5

170.2

Common Stock

138.3

140.4

136.8

126.5

170.2

Additional Paid-In Capital

13.4

14.9

406.7

376.0

497.6

Retained Earnings (Accumulated Deficit)

4,503.7

3,766.1

2,532.0

1,713.9

2,390.1

Unrealized Gain (Loss)

51.0

69.1

48.2

14.4

15.3

    Translation Adjustment

41.3

-2.0

-1.3

1.3

0.0

    Other Equity

0.0

0.0

76.2

-6.7

-

    Other Comprehensive Income

-5.9

-6.6

-

-

-

Other Equity, Total

35.4

-8.7

75.0

-5.4

0.0

Total Equity

4,741.8

3,981.9

3,198.7

2,225.5

3,073.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

1,657

-

1,540

993

993

Number of Common Shareholders

-

-

14,544

15,726

15,574

Accumulated Intangible Amort, Suppl.

19.4

21.9

-

-

-

Deferred Revenue - Current

20.7

25.9

6.1

6.0

2.1

Total Long Term Debt, Supplemental

4,071.4

3,364.1

621.4

425.4

84.9

Long Term Debt Maturing within 1 Year

2,585.5

1,803.6

116.3

23.8

16.0

Long Term Debt Maturing in Year 2

371.5

390.1

289.4

115.9

16.0

Long Term Debt Maturing in Year 3

371.5

390.1

-

285.8

52.8

Long Term Debt Maturing in Year 4

371.5

390.1

-

-

-

Long Term Debt Maturing in Year 5

371.5

390.1

-

-

-

Long Term Debt Maturing in 2-3 Years

742.9

780.3

289.4

401.6

68.8

Long Term Debt Maturing in 4-5 Years

742.9

780.3

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

215.6

0.0

0.0

Total Capital Leases, Supplemental

-

-

5.7

-

-

Capital Lease Payments Due in Year 1

-

-

1.4

-

-

Capital Lease Payments Due in Year 2

-

-

1.1

-

-

Capital Lease Payments Due in Year 3

-

-

1.1

-

-

Capital Lease Payments Due in Year 4

-

-

1.1

-

-

Capital Lease Payments Due in Year 5

-

-

1.1

-

-

Capital Lease Payments Due in 2-3 Years

-

-

2.1

-

-

Capital Lease Payments Due in 4-5 Years

-

-

2.1

-

-

Total Operating Leases, Supplemental

-

-

0.0

0.1

0.2

Operating Lease Payments Due in Year 1

-

-

0.0

0.1

0.1

Operating Lease Payments Due in Year 2

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 3

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 4

-

-

-

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

0.0

0.0

0.1

Operating Lease Pymts. Due in 4-5 Years

-

-

-

-

0.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

 

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

1,022.3

778.4

697.6

-36.4

527.4

    Depreciation

339.1

262.8

242.4

294.4

395.8

Depreciation/Depletion

339.1

262.8

242.4

294.4

395.8

    Amortization of Intangibles

2.6

3.3

2.0

2.1

7.3

Amortization

2.6

3.3

2.0

2.1

7.3

Deferred Taxes

-

-

11.9

-36.9

37.2

    Unusual Items

15.3

-5.6

-5.3

45.1

-1.5

    Equity in Net Earnings (Loss)

-49.7

-5.1

-15.9

-51.9

-106.4

    Other Non-Cash Items

454.6

292.0

-15.9

29.9

20.7

Non-Cash Items

420.3

281.3

-37.2

23.1

-87.2

    Accounts Receivable

-388.9

-128.7

-308.3

129.0

-114.1

    Inventories

-146.0

-173.4

62.9

-22.9

-146.6

    Prepaid Expenses

-

-

9.5

-5.9

3.2

    Other Assets

30.4

-3.7

29.0

1.1

-

    Accounts Payable

508.1

3.1

421.5

-391.4

203.5

    Accrued Expenses

-

-

-0.1

5.4

0.1

    Taxes Payable

-

-

22.7

-43.4

-7.2

    Other Liabilities

-6.5

-6.9

-7.6

-4.4

-8.9

    Other Operating Cash Flow

-320.6

-104.9

0.9

0.3

0.2

Changes in Working Capital

-323.6

-414.3

230.5

-332.2

-69.7

Cash from Operating Activities

1,460.7

911.4

1,147.4

-85.9

810.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-842.1

-359.2

-151.8

-620.1

-848.3

    Purchase/Acquisition of Intangibles

-3.3

-1.0

0.0

0.0

-0.2

Capital Expenditures

-845.4

-360.2

-151.8

-620.2

-848.4

    Acquisition of Business

-186.0

-1,303.3

-

-

-

    Sale of Business

-

3.7

-

-

-

    Sale of Fixed Assets

17.9

28.5

0.4

10.6

10.4

    Sale/Maturity of Investment

3,862.7

2,351.1

679.0

759.2

1,181.5

    Purchase of Investments

-3,790.6

-2,195.5

-1,223.2

-639.2

-1,285.9

    Sale of Intangible Assets

-

0.0

-

-

-

    Other Investing Cash Flow

74.6

47.5

-5.0

-3.9

-12.7

Other Investing Cash Flow Items, Total

-21.4

-1,068.0

-548.7

126.8

-106.7

Cash from Investing Activities

-866.8

-1,428.2

-700.6

-493.4

-955.1

 

 

 

 

 

 

    Other Financing Cash Flow

-62.6

-41.0

-21.0

4.5

0.1

Financing Cash Flow Items

-62.6

-41.0

-21.0

4.5

0.1

    Cash Dividends Paid - Common

-59.0

-49.6

-6.2

-28.9

-25.7

Total Cash Dividends Paid

-59.0

-49.6

-6.2

-28.9

-25.7

        Short Term Debt Issued

496.6

92.7

164.7

1,570.1

53.8

        Short Term Debt Reduction

-429.5

-99.5

-534.6

-1,193.5

-165.0

    Short Term Debt, Net

67.2

-6.8

-369.9

376.6

-111.3

        Long Term Debt Issued

455.2

600.0

195.9

344.4

51.9

        Long Term Debt Reduction

-344.0

-126.1

-0.1

-22.7

-

    Long Term Debt, Net

111.2

473.9

195.8

321.7

51.9

Issuance (Retirement) of Debt, Net

178.3

467.2

-174.1

698.3

-59.3

Cash from Financing Activities

56.7

376.6

-201.4

673.8

-85.0

 

 

 

 

 

 

Net Change in Cash

650.7

-140.2

245.4

94.5

-229.3

 

 

 

 

 

 

Net Cash - Beginning Balance

478.7

598.9

296.3

249.1

524.3

Net Cash - Ending Balance

1,129.4

458.7

541.7

343.6

295.1

Cash Interest Paid

72.4

40.7

-

-

-

Cash Taxes Paid

320.6

104.9

-

-

-

 

 

 

 

Annual Income Statement

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Total Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

 

 

 

 

 

 

    Costs of Goods and Services Sold

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

    Salaries and Wages

58.8

37.8

31.7

24.9

30.5

    Retirement and Severance Benefits

4.0

4.2

2.4

3.6

3.7

    Employee Benefits

12.7

7.2

5.0

5.8

5.8

    Commissions

27.1

24.4

27.2

34.4

17.8

    Travel Expenses

4.5

3.3

1.9

2.2

2.4

    Utility Expenses

0.1

0.1

0.1

0.0

0.0

    Taxes and Dues

2.6

1.8

1.1

1.8

1.3

    Communication Expenses

1.9

1.0

0.9

0.7

0.8

    Rental Expenses

7.3

4.3

3.3

4.3

4.9

    Insurance Expenses

0.3

0.2

0.1

0.1

0.1

    Entertainment

1.5

1.0

1.1

1.2

1.5

    Expenses for Samples

-

-

0.7

1.2

0.7

    Transport & Storage

187.5

149.2

109.0

113.5

71.4

    Services Expenses

-

-

1.9

1.9

7.0

    Registration Fees

-

-

0.0

0.0

0.0

    Safety Expense

-

-

0.0

0.0

0.0

    Consumable Expense

0.7

0.3

0.2

0.1

0.2

    Uniform Expenses

-

-

0.0

0.0

0.0

    Repair & Maintenance

4.3

2.2

2.1

1.5

1.5

    Publication Expenses

0.3

0.3

0.3

0.2

0.3

    Vehicle Maintenance Expenses

1.2

1.2

-

-

-

    Vehicle & Transport.

-

-

1.0

0.8

0.8

    Exporting Expenses

-

-

-

-

37.9

    Education & Training

2.2

1.3

1.0

1.3

1.7

    Conference Expenses

-

-

-

-

0.1

    Packaging Expenses

-

-

-

-

8.4

    Advertising Expenses

2.1

1.2

1.1

0.9

0.8

    Sales Promotional Expenses

0.4

0.3

-

-

-

    Miscellaneous Operating Expense

-

-

1.6

2.7

0.9

    R & D Expenses

26.4

19.7

14.1

12.0

15.6

    Depreciation

4.0

2.4

2.5

3.1

3.5

    Amortization of Intangible Assets

2.3

3.1

2.1

2.0

7.2

    Sample Expenses

0.8

1.0

-

-

-

    Compensation Expense

0.0

-

-

-

-

    Expenses of Allowance for Doubtful Accou

0.4

0.1

2.8

1.5

2.8

    Computing Expense

-

-

-

-

0.3

    Sales Commissions

14.2

12.9

-

-

2.4

    Damage Compensation Expense

0.1

0.0

-

-

-

    Miscellaneous Expenses

16.0

2.4

-

-

-

    Adjustment for Selling and Administrativ

0.0

-

-

-

-

    Gain on Foreign Currency Transactions

-199.5

-127.0

-

-

-

    Gain on Foreign Currency Translation

-5.7

-13.4

-

-

-

    Reversal of Allowance for Doubtful Accou

-0.7

-0.1

-

-

-

    Gain on Disposal of Property, Plant and

-1.0

-14.2

-

-

-

    Dividend Income

-0.3

-1.3

-

-

-

    Gain on Purchase at Bargain Price

-8.0

-

-

-

-

    Miscellaneous Income

-44.4

-23.7

-

-

-

    Adjustment for Other Operating Income

0.0

0.0

-

-

-

    Loss on Foreign Currency Transactions

138.9

134.3

-

-

-

    Loss on Foreign Currency Translation

67.5

11.4

-

-

-

    Loss on Disposal of Property, Plant and

4.9

1.6

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Loss on Disposal of Trade Receivable

0.1

0.3

-

-

-

    Loss on Inventory Obsolescence

0.0

-

-

-

-

    Donations Paid

5.7

4.5

-

-

-

    Other Allowance for Doubtful Accounts

-

31.9

-

-

-

    Impairment Loss on Goodwill

11.9

7.2

-

-

-

    Miscellaneous Loss

9.9

7.5

-

-

-

    Adjustment for Other Operating Expense

-

0.0

-

-

-

Total Operating Expense

12,825.2

8,179.0

5,959.2

6,848.5

6,105.8

 

 

 

 

 

 

    Interest Income

43.3

44.2

31.1

38.6

48.7

    Rental Income

-

-

4.3

4.5

4.5

    Fees and Commissions Received

-

-

0.3

1.1

0.0

    Gain on Foreign Currency Transactions

17.3

17.2

146.5

242.9

43.3

    Gain on Foreign Currency Translations

5.2

0.7

31.6

33.3

10.4

    Gain on Disposal of Investment Assets

-

-

-

-

0.4

    Gain on Derivatives Transaction

11.7

31.9

0.6

20.3

-

    G-Secs. for Sale Disposal

-

-

0.0

0.1

0.0

    Gain on Valuations of Derivatives

4.5

24.8

0.4

125.5

2.6

    Gain on Valuation of Financial Assets at

3.6

0.2

-

-

-

    Dividend Income

-

-

-

1.2

1.2

    G-Tang Asst Disposal

-

-

0.1

11.8

7.4

    Reversal-Neg.Goodwil

-

-

20.1

8.3

4.1

    Recapture Doubt Acct

-

-

0.1

2.4

0.0

    Import Violation Fee

-

-

0.1

0.0

0.0

    Gain-Assets Contributed

-

-

13.1

-

-

    Gain-Disposal of Equity Method Sec.

-

-

8.8

-

-

    Gain from Guest Houses

-

-

-

-

0.1

    Gain from Welfare Facilities

-

-

-

-

0.1

    Gain from Housing Facilities

-

-

-

-

0.8

    Fee Income on Facilities Usage

-

-

-

-

0.9

    Miscellaneous Income

-

-

8.0

7.4

6.4

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Interest Expenses

-71.3

-46.1

-45.1

-31.5

-14.0

    L-Secs for Sale Disposal

-

-

-0.4

-

-0.1

    Loss on Derivative Transaction

-0.5

-2.5

-0.2

-

-

    L-Tangible Assets Disposal

-

-

-0.2

-14.6

-1.9

    Loss on Foreign Currency Transactions

-21.1

-38.4

-140.2

-391.6

-41.0

    Loss on Foreign Currency Translations

-6.0

-25.1

-12.8

-143.5

-17.6

    Loss on Valuation of Other Derivatives

-

-0.5

-26.8

-1.7

-

    Loss on Valuation of Financial Assets at

-4.5

0.0

-

-

-

    NE Loss on Disposal of Accounts Receivab

-

-

-1.0

-0.5

-0.2

    Other Repairment Expense

-

-

-1.1

-1.3

-1.3

    Other Amortization

-

-

-1.1

-2.4

-0.2

    Other Fee & Charges Paid

-

-

-

-

-0.2

    Suspended Fixed Maintaince Exp.

-

-

-

-0.5

-0.3

    Donations Paid

-

-

-2.7

-2.2

-6.0

    Expense for Guest Houses

-

-

-

-

-0.6

    Expense for Welfare Facilities

-

-

-

-

-0.3

    Expense for Housing Facilities

-

-

-

-

-2.5

    Expense for Facilities Usage

-

-

-

-

-0.5

    Depreciation Exp for Suspended Assets

-

-

-0.2

-2.9

-2.2

    Miscellaneous Exp.

-

-

-2.7

-43.1

-2.3

    Gain under Equity Method

49.7

5.1

26.6

63.3

106.5

    Loss under Equity Method

-

-

-11.1

-11.4

-

    Loss-Reduction of Eqiuty Method Sec.

-

-

-

-

-0.1

    Loss-Reduction of Tangible Assets

-

-

0.0

-

-

    Loss-Reduction of Intangible Assets

-

-

-0.3

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Other Non-Operating Income/Loss

-

-0.4

-

-

-

Net Income Before Taxes

1,377.8

1,029.5

820.8

-61.4

666.9

 

 

 

 

 

 

Provision for Income Taxes

355.5

251.1

94.9

-25.0

139.5

Net Income After Taxes

1,022.3

778.4

725.9

-36.4

527.4

 

 

 

 

 

 

    Minority Interest

-139.4

-94.6

-72.5

-5.9

-28.8

    Earning Before Acquisition of Subsidiary

-

-

-28.3

0.0

-

Net Income Before Extra. Items

882.9

683.8

625.1

-42.3

498.6

Net Income

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Basic Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excluding ExtraOrdinary Items

27.71

21.46

19.62

-1.33

15.65

Basic EPS Including ExtraOrdinary Item

27.71

21.46

19.62

-1.33

15.65

Dilution Adjustment

0.0

0.0

-

0.0

-

Diluted Net Income

882.9

683.8

625.1

-42.3

498.6

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excluding ExtraOrd Items

27.71

21.46

19.62

-1.33

15.65

Diluted EPS Including ExtraOrd Items

27.71

21.46

19.62

-1.33

15.65

DPS-Common Stock

1.58

1.30

1.18

0.23

1.08

Gross Dividends - Common Stock

50.3

41.3

37.4

7.2

34.3

Normalized Income Before Taxes

1,393.8

1,024.3

801.8

-66.3

661.6

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

359.7

249.8

95.0

-23.8

138.4

Normalized Income After Taxes

1,034.1

774.5

706.9

-42.5

523.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

894.8

679.9

606.0

-48.4

494.4

 

 

 

 

 

 

Basic Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Diluted Normalized EPS

28.08

21.34

19.02

-1.52

15.52

R&D Expense, Supplemental

26.4

19.7

14.1

12.0

15.6

Advertising Expense

2.5

1.5

1.1

0.9

0.8

Interest Expense, Supplemental

71.3

46.1

45.1

31.5

14.0

Interest Capitalized, Supplemental

-13.8

-4.2

-

-

-

Rental Expense, Supplemental

7.3

4.3

3.3

4.3

4.9

Depreciation, Supplemental

339.1

262.8

242.4

294.4

395.8

Amort of Intangibles, Supplemental

2.6

3.3

1.9

2.1

3.5

Amortization of Acquisition Cost

-

-

0.1

0.0

3.8

Amortization of Neg-Acquisition Cost

-

-

-20.1

-8.3

-4.1

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

1,086.2

467.3

593.7

300.3

292.9

    Current Financial Instruments

484.6

566.2

698.9

186.0

461.6

    Financial Assets at Fair Value Through P

0.0

0.4

-

-

-

    Adjustments for Other Financial Instrume

0.0

0.0

-

-

-

    Derivatives

-

-

19.8

29.3

-

    Loans

0.7

9.0

17.3

-

-

    Current Securities Available-for-Sale

0.2

0.3

0.3

3.4

0.4

    Trade Rcvb Gross

1,398.3

1,086.7

742.1

392.2

673.1

    Allowance for Doubtful Accounts for Trad

-4.5

-4.8

-7.8

-5.0

-9.3

    Account Receivables

60.7

61.2

63.6

17.3

47.0

    Allowance for Doubtful Accounts for Acco

-

-1.5

-

-

-

    Capital Lease Bonds

0.1

-

-

-

-

    Adjustment for Trade & Other Receivables

0.0

-

-

-

-

    Advance Payments

67.0

38.0

38.6

4.8

1.9

    Prepaid Expenses

13.7

13.1

5.6

7.1

5.8

    Prepaid Value Added Taxes

20.2

13.9

1.0

6.0

2.7

    Current Tax Assets

9.2

10.1

-

-

-

    Accrued Income

5.9

4.2

6.1

5.1

6.0

    Income Tax Refund Receivable

-

-

0.2

5.6

0.0

    Deferred Income Tax

-

-

0.4

6.6

1.1

    Guarantee Deposit, Current

1.8

8.0

-

-

-

    Derivative Assets for Risk Hedge

-

54.4

-

-

-

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Merchandises

12.6

6.4

9.6

2.7

0.0

    Finished Goods

381.9

319.4

159.0

182.5

209.2

    Semi-finish Good

113.7

118.0

30.4

30.4

63.8

    Works in Process

27.7

31.0

69.5

55.9

83.5

    Raw Materials

226.2

214.6

-

-

-

    Raw Materials

28.9

20.7

123.6

132.5

184.4

    Residual Products

-

-

-

2.4

0.0

    Goods in Transit

147.0

123.8

5.0

1.5

21.4

    Supplies

161.6

138.8

50.6

40.9

60.3

    Adjustment for Inventories

0.0

0.0

-

-

-

Total Current Assets

4,243.6

3,299.2

2,627.6

1,407.7

2,105.9

 

 

 

 

 

 

    Non-Current Financial Instruments

22.0

0.2

0.1

0.0

0.0

    Adjustment for Non-Current Financial Ins

0.0

0.0

-

-

-

    Loans

4.0

4.3

4.6

16.0

16.7

    Receivable-Capital Lease

3.2

1.7

-

-

-

    Investment in Properties

40.1

35.3

-

-

-

    Investment in Affiliates

669.4

553.4

-

-

-

    Investments in Jointly Controlled Entiti

272.6

209.2

-

-

-

    Affiliates Stock

-

-

764.6

564.1

671.5

    Non-Current Securities Available-for-Sal

89.2

86.8

76.1

61.5

29.6

    Guarantee Deposits, Non-Current Assets

3.0

2.9

7.5

5.0

6.8

    Non-Current Prepaid Expenses

82.2

77.9

10.7

10.7

16.5

    Derivatives

-

-

33.2

70.0

0.8

    Derivative Assets for Risk Hedge, Non-Cu

4.1

0.7

-

-

-

    Other Investment Assets

-

-

0.1

2.1

2.8

    Non-Current Deferred Income Taxes Assets

121.8

132.6

-

32.9

52.2

    Lands

388.9

396.0

401.7

261.6

307.8

    Buildings

346.5

334.4

300.5

261.0

270.4

    Buildings Depre.

-103.6

-104.6

-79.4

-55.8

-65.2

    Buildings-Reduction

-2.2

-

-

-

-

    Structures

476.9

448.7

403.5

354.3

362.1

    Structure Depre.

-271.3

-265.8

-198.7

-174.6

-219.9

    Tools/Equipments

40.9

37.9

34.7

35.1

40.2

    Tool/Equip Depr.

-33.1

-30.9

-27.8

-26.7

-31.9

    Machineries & Equipments

6,666.0

6,538.7

4,693.7

3,758.3

3,907.3

    Machineries & Equipments-Depreciation

-4,620.6

-4,533.2

-3,523.3

-2,649.3

-3,302.0

    Machineries & Equipments-Reduction

-14.0

-

-

-

-

    Machineries & Equipments-Government Subs

-0.5

-0.7

-0.3

-0.2

-

    Vehicles

10.8

12.0

7.8

6.6

8.2

    Vehicles-Depreciation

-9.1

-9.4

-6.7

-5.2

-6.6

    Fixtures

51.0

48.9

36.1

23.5

28.3

    Deprec. Fixtures

-42.6

-42.6

-31.2

-18.6

-22.7

    Other Property Plant & Equipment

152.5

183.5

133.3

108.1

70.7

    Other Tangible Assets-Depreciation

-53.9

-129.2

-84.9

-44.5

-25.0

    Capital Lease Assets

4.4

-

-

-

-

    Capital Lease Assets-Depreciation

-4.1

-

-

-

-

    Constrct in Prog

756.5

405.4

132.4

97.2

911.3

    Adjustment for Property, Plant & Equipme

-

0.0

-

-

-

    Industrial Property Rights

0.9

0.6

0.1

0.0

0.1

    Membership Rights

5.7

5.8

-

-

-

    Dock Facilit Rts

-

0.0

0.0

0.1

0.3

    Other Intangible Assets

11.0

9.0

10.4

3.1

5.2

    Goodwill

16.7

38.9

7.2

-

26.2

    Negative Goodwill

-

-

-72.2

-35.0

-22.9

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    Current Trade Payables

1,544.4

1,026.0

913.7

402.9

847.9

    Other Payables

219.5

249.5

148.2

112.2

333.1

    Adjustment for Current Trade & Other Pay

-

0.0

-

-

-

    Current Tax Liabilities

183.8

190.2

27.7

6.1

54.9

    Accrued Expenses

-

-

28.1

6.8

2.7

    Advance from Customers, Current Liabilit

14.5

22.1

6.1

6.0

2.1

    Unearned Income

6.2

3.8

-

-

-

    Withholdings

28.2

14.4

10.7

5.3

7.3

    Current Portion of Bonds

86.8

293.6

62.8

23.8

-

    Capital Leased Liabilities, Current

2.2

1.7

-

-

-

    Current Borrowings

154.7

116.9

78.1

422.1

87.5

    Adjustment for Current Portion of LT Deb

-

-

-

-

-

    Value Added Taxes Withholdings

8.0

12.6

0.1

0.2

-

    Current Portion of LT Debt

19.5

48.1

53.5

-

-

    Financial Liabilities at Fair Value Thro

0.5

0.4

-

-

-

    Other Current Financial Liabilities

89.9

67.8

-

-

-

    Reserve for Current Liabilities

2.7

-

-

-

-

    Deferred Income Tax Credits

-

-

7.4

47.0

2.7

    Derivatives in Liabilities, Current

-

-

0.8

2.5

-

    Sec Dep Withheld

-

-

0.0

0.0

0.1

    Current Portion of Capital Leases

-

-

1.4

-

-

    Discount on Debentures Issuance, Current

-

-

-0.1

-

-

    Other Current Liabilities

7.6

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

-

-

-

-

Total Current Liabilities

2,368.5

2,047.1

1,338.4

1,035.0

1,338.2

 

 

 

 

 

 

    Bonds

1,201.4

862.6

482.7

326.8

32.0

    Non-Current Borrowings

147.8

113.7

22.7

74.0

52.8

    Capital Lease Liabilities

0.4

2.5

4.2

-

-

    Discount on Issuance of Debentures

0.0

0.0

-1.4

-

-

Total Long Term Debt

1,349.6

978.9

508.2

400.8

84.8

 

 

 

 

 

 

    Derivative Products in Liabilities

-

-

-

-

0.7

    Deferred Income Taxes, Non-Current Liabi

181.2

159.5

159.1

92.5

245.3

    LL Security Dep

-

-

10.4

9.5

12.8

    LT Account Payables

-

-

57.1

44.4

50.9

    Accident Reserves

-

-

0.5

0.4

0.5

    Non-Current Provisions

0.6

6.7

-

-

-

    Retire Reserve

-

-

57.0

15.3

16.6

    Retirement & Severance Benefits, Non-Cur

19.9

14.4

-

-

-

    Non-Current Employees Benefits Liabiliti

4.0

4.8

-

-

-

    Minority Interests

603.5

483.3

369.7

245.6

321.7

    LT Deposit Withheld

-

-

0.0

-

-

    Other Non-Current Financial Liabilities

59.5

70.8

-

-

-

    Deposit-Retirement Insurance

-

-

-37.6

-

-

    Transfer to National Pension Fund

-

-

-0.1

-

-

Total Liabilities

4,586.8

3,765.6

2,462.7

1,843.4

2,071.5

 

 

 

 

 

 

    Common Stock

138.3

140.4

136.8

126.5

170.2

    Additional Paid in Capital

19.9

20.2

19.7

18.2

497.6

    Other Capital

-6.5

-5.3

387.0

4.4

-

    Reserve for Assets Revaluation

-

-

-

353.4

-

    Adjustment for Other Paid-in Capital

0.0

0.0

-

-

-

    Legal Reserve

-

-

20.5

18.5

21.3

    Voluntary Reserves

-

-

1,825.2

1,730.1

1,868.6

    Retained Earnings or Accumulated Deficit

4,503.7

3,766.1

-

-

-

    Gain-Valuation of Sec Available for Sale

-

-

0.8

0.6

1.3

    Capital Change under Equity Method

47.8

67.5

53.7

24.4

15.4

    Negative Capital Change-Equity Method

-

-

-0.3

-1.7

-0.2

    Overseas Business Translation Debit/Cred

41.3

-2.0

-1.3

1.3

0.0

    Gain/Losses on Valuation of Securities A

3.2

1.6

-

-

-

    Gain-Valuation of Derivatives

-

-

-

-

-1.3

    Loss-Valu. of Sec. Available for Sale

-

-

-1.7

-

-

    Retained Earning

-

-

686.2

-34.6

500.2

    Consolidated Capital Adjustment

-

-

-7.4

-6.7

-

    Loss-Valuation of Derivatives

-

-

-4.2

-8.8

-

    Gain/Losses on Valuation of Derivatives

-5.9

-6.6

-

-

-

    Revaluation Adjustment

-

-

83.7

-

-

    Adjustment for Other Capital Items

0.0

0.0

-

-

-

Total Equity

4,741.8

3,981.9

3,198.7

2,225.5

3,073.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    S/O-Common Stock

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

T/S-Common Stock

0.0

0.0

0.0

0.0

0.0

Deferred Revenue, Current

20.7

25.9

6.1

6.0

2.1

Accumulated Intangible Amort, Suppl.

19.4

21.9

-

-

-

Full-Time Employees

1,657

-

1,540

993

993

Number of Common Shareholders

-

-

14,544

15,726

15,574

Long Term Debt Maturing within 1 Year

2,585.5

1,803.6

116.3

23.8

-

Long Term Debt Maturing in 2 Years

-

-

289.4

115.9

32.0

Long Term Debt Maturing in 3 Years

-

-

-

285.8

52.8

Long Term Debt Maturing in Year 5

1,485.9

1,560.5

-

-

-

Long Term Debt Maturing Remaining

-

-

215.6

-

-

Total Long Term Debt, Supplemental

4,071.4

3,364.1

621.4

425.4

84.9

Capital Lease Payments Due within 1 Year

-

-

1.4

-

-

Capital Lease Payments Due in Year 5

-

-

4.2

-

-

Total Capital Leases

-

-

5.7

-

-

Operating Lease Pymt Due in Year 1

-

-

0.0

0.1

0.1

Operating Lease Pymt Due in Year 2

-

-

0.0

0.0

0.1

Operating Lease Pymt Due in Year 3

-

-

0.0

0.0

0.0

Operating Lease Pymt Due in Year 4

-

-

-

-

0.0

Total Operating Leases

-

-

0.0

0.1

0.2

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

1,022.3

778.4

697.6

-36.4

527.4

    Depreciation

339.1

262.8

242.4

294.4

395.8

    Amortization of Intangible Assets

2.6

3.3

2.0

2.1

7.3

    Expense of Allowance for Doubtful Accoun

0.4

0.1

2.4

1.5

2.8

    Expenses of Allowance for Other Doubtful

-

31.9

1.0

2.4

0.2

    Corporate Taxes Expense

355.5

251.1

-

-

-

    Payment for Retirement Allowance, ONCI

13.7

10.1

12.0

12.8

16.7

    Interest Expenses

71.3

46.1

-

-

-

    Accrued Interest Expense

-

-

0.9

0.1

0.2

    Rent Expense

2.1

0.1

-

-

-

    Losses on Foreign Currency Translation

73.5

36.5

6.6

141.3

17.5

    Impairment Loss on Goodwill

11.9

7.2

-

-

-

    Valuation Inventory

-

-

1.4

41.8

4.4

    Loss on Disposal of Trade Receivable

0.1

0.3

1.0

0.5

0.2

    Losses on Valuation of Inventories

3.0

-0.7

-

-

-

    Loss on Sec Disposal

-

-

0.4

-

0.1

    Loss on Disposal of Property, Plant and

4.9

1.6

0.2

14.6

1.9

    Loss on Disposal of Investment in Affili

-

0.8

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Loss under Equity Method

-

-

10.7

11.4

-

    Loss on Reduction of Securities under Eq

-

-

-

-

0.1

    Loss-Valuation of Derivatives

-

0.5

26.8

1.7

-

    Loss-Derivatives Transaction

4.5

0.0

-

-

-

    Repair Expense

-

0.0

-

0.8

0.7

    Miscellaneous Loss

1.4

0.0

-

39.0

-

    Non-Current Employ Benefits

-0.1

0.7

-

-

-

    Gains on Valuations of Derivatives Asset

-4.5

-24.8

-

-125.5

-2.6

    Gain-Disp. of Security Avail-for-Sale

-

-0.4

0.0

-0.1

-

    Gain Disp Tang. Ast

-1.0

-14.2

-0.1

-11.8

-7.4

    Gain-Disp. of Securities/Equity Method

-

-

-8.1

-

-

    Gain on Valuation of Financial Assets at

-3.6

-0.2

-

-

-

    Loss-Reduction of Tangible Assets

-

-

0.0

-

-

    Gain on Purchase at Bargain Price

-8.0

-

-

-

-

    Recovery of Allowance for Doubtful Accou

-0.7

-0.1

0.0

-2.4

0.0

    Recovery-Negative Goodwill

-

-

-20.1

-8.3

-4.1

    Gain on Valuation of Inventories

-

-

-

-

-0.4

    Gains on Foreign Currency Translation

-10.9

-14.1

-31.4

-33.2

-10.2

    Interest Received

-43.3

-44.2

-0.1

-0.2

-0.2

    Dividend Income

-0.3

-1.3

-

-

-

    Equity Earnings

-49.7

-5.1

-26.6

-63.3

-106.5

    G-Inv.Asset Disp

-

-

-

-

-0.4

    Miscellaneous Gains

-0.1

-0.5

-

0.0

0.0

    Total Inventory

-146.0

-173.4

79.3

-19.1

-147.5

    Derivatives in Assets

57.3

21.8

29.0

1.1

-

    Trade Receivables

-384.8

-131.8

-276.8

114.8

-85.5

    Accrued Income

-

-

-0.6

-0.7

-0.6

    Other Receivables

-4.1

3.2

-35.4

20.6

-30.8

    Income Tax Refund Receivable

-

-

4.4

-5.7

2.8

    LT Prepaid Expense

-

-

-0.2

-

-

    Prepaid Expenses

-

-

4.7

-1.4

2.7

    Advanced Payment

-

-

-16.3

-3.8

0.9

    Prepaid VAT

-

-

5.0

-4.5

0.5

    Deferred Taxes-Asset

-

-

33.6

22.0

-27.1

    Deferred Taxes-Asset,Current

-

-

6.2

-6.6

-3.8

    Deferred Taxes-Credit,Current

-

-

-45.3

51.5

0.2

    Derivatives in Liabilities

-

-

-1.5

-

-

    Financial Assets at Fair Value Through P

-

-1.0

-

-

-

    Guarantee Deposit

-

-

0.0

-

-

    Other Financial Assets

-1.2

5.8

-

-

-

    Other Assets

-25.7

-30.3

-

-

-

    Trade Payables

476.3

-35.5

390.7

-249.3

11.7

    LT Account Payables

-

-

7.9

7.5

-1.3

    Other Payables

31.8

38.6

22.9

-149.6

193.2

    Accrued Expenses

-

-

-0.1

5.4

0.1

    Accrued Income Taxes

-

-

22.9

-43.7

-7.2

    VAT Taxes Withheld

-

-

-0.2

0.3

-

    Advances Received

-

-

-0.8

4.8

0.7

    Deposits Withheld

-

-

4.2

-0.1

2.2

    Security Deposits Withheld

-

-

1.5

0.0

0.1

    Deferred Taxes-Liability

-

-

17.4

-103.7

67.9

    Dividend Income, A/L

-

-

0.0

0.2

-

    National Pension

-

-

0.0

0.1

2.6

    Government Subsidy, A/L

-

-

-

0.3

-

    Retirement and Severance Benefits Liabil

-19.4

-16.5

-

-

-

    Payment-Retirement Bonus

-

-

-6.5

-12.7

-14.5

    Retirement Insurance Deposits

-

-

-4.3

2.3

-0.5

    Reserve for Severance & Retirement

-

-

-

0.9

0.4

    Other Financial Liabilities

5.7

-10.2

-

-

-

    Other Liabilities

7.3

19.8

-

-

-

    Gain-Assets Contributed

-

-

-13.1

-

-

    Cash-Tax Paid

-320.6

-104.9

-

-

-

Cash from Operating Activities

1,460.7

911.4

1,147.4

-85.9

810.8

 

 

 

 

 

 

    Disposal of Current Financial Instrument

3,844.3

2,338.0

677.8

758.0

1,180.2

    Disposal of Non-Current Financial Instru

-

0.1

-

-

0.0

    Decrease in LT Loans

-

-

0.4

1.0

0.6

    Dec-Guarantee Dep

-

-

0.3

2.3

0.7

    Cash Interest Received

41.4

46.2

-

-

-

    Disposal of Securities Available-for-Sal

0.3

2.2

0.3

1.2

0.9

    Disposal of Other Financial Instruments

18.1

10.9

-

-

-

    Disposal of Other Assets

17.4

-

-

-

-

    Dividend Received

15.8

1.3

-

-

-

    Dec-Investment Secs

-

-

-

-

0.4

    Disposal of Land

-

-

-

4.1

0.4

    Disposal-Buildings

-

-

-

0.7

-

    Disposal of Building

-

-

-

0.7

0.0

    Disposal Mach./Equip

-

-

0.1

5.1

4.4

    Disp-Tools & Equip.

-

-

0.0

0.0

0.0

    Disposal Trans Equip

-

-

0.0

0.0

0.1

    Disposal of Supplies

-

-

0.3

0.0

0.0

    Disposal of Other Tangible Assets

-

-

-

-

5.5

    Disposal of Property, Plant and Equipmen

17.9

28.5

-

-

-

    Disposal of Intangible Assets

-

0.0

-

-

-

    Disposal of Affiliates

-

3.7

-

-

-

    Purchase of Current Financial Instrument

-3,764.2

-2,187.0

-1,128.8

-578.3

-1,227.9

    Purchase of Non-Current Financial Instru

-22.6

-0.2

-

-

-

    Purchase of Financial Assets at Fair Val

-0.1

-

-

-

-

    Purchase of Other Financial Instruments

-2.8

-2.5

-

-

-

    Increase-ST Loans

-

-

-3.9

-

-

    Inc-Affiliates Stock

-

-

-59.2

-9.1

-52.7

    Increase in LT Loans

-

-

-

-5.0

-12.6

    Inc in Guarant Depos

-

-

-1.8

-2.2

-1.5

    Purchase of Securities Available-for-Sal

-0.6

-5.2

-35.2

-51.8

-5.3

    Acquis in Invest Properties

-0.4

-0.6

-

-

-

    Increase-Other Investment Assets

-

-

0.0

-

-

    Increase-Buildings

-

-

-0.2

-0.1

-

    Purch. of Mach/Equip

-

-

-5.0

0.0

-0.7

    Acq. of Trans Equip

-

-

-0.2

0.0

0.0

    Increase--Furniture & Fixtures

-

-

-0.1

-0.2

-0.3

    Acq. Const. In Prog

-

-

-145.9

-618.0

-821.8

    Increase-Other Tangible Assets

-

-

-0.5

-1.8

-25.5

    Purchase of Property, Plant and Equipmen

-842.1

-359.2

-

-

-

    Purchase of Intangible Assets

-3.3

-1.0

-

-

-

    Aq-Industrial Right

-

-

-

-

0.0

    Acq Intangible Asset

-

-

0.0

0.0

-0.1

    Acq-Dock Use Right

-

-

-

-

-0.1

    Disposal-Securities under Equity Method

-

-

0.9

-

-

    Cash Flows from Merger

-

-1,297.7

-

-

-

    Acquisition of Affiliates

-135.3

-1.2

-

-

-

    Acquisition of Jointly Controlled Entiti

-50.7

-4.4

-

-

-

Cash from Investing Activities

-866.8

-1,428.2

-700.6

-493.4

-955.1

 

 

 

 

 

 

    Increase in Current Borrowings

496.6

92.7

164.7

1,570.1

53.8

    Inc in LT Borrowings

-

-

1.0

40.9

51.9

    Increase-Bond

450.1

596.1

195.0

303.4

-

    Increase in Funds for Capital Participat

5.1

-

-

-

-

    Increase in Capital Lease Liabilities

-

3.9

-

-

-

    Decrease in Current Borrowings

-429.5

-99.5

-511.1

-1,193.5

-3.6

    Decrease-LT Borrowings

-

-

-

-22.7

-

    Decrease-Current Portion of Bond

-

-

-23.5

-

-161.4

    Decrease in Current Portion of Long-Term

-323.2

-118.1

-0.1

-

-

    Decrease in Convertible Bonds

-

-2.9

-

-

-

    Decrease in Capital Lease Liabilities

-20.8

-5.1

-

-

-

    Increase in Government Subsidy

-

3.9

-

-

-

    Dividend Paid

-59.0

-49.6

-6.2

-28.9

-25.7

    Increase in Investment in Subsidiaries

-2.4

-1.0

-

-

-

    Expense for Stock Issuance

-

-

-

-

0.0

    Change-Foreign Currency Translation

-

-

-9.3

1.3

0.1

    Consolidation Scope Change

-

-

-11.8

3.2

-

    Cash-Interest Paid

-72.4

-40.7

-

-

-

    Foreign Currency Translation Effect

12.3

-3.3

-

-

-

Cash from Financing Activities

56.7

376.6

-201.4

673.8

-85.0

 

 

 

 

 

 

Net Change in Cash

650.7

-140.2

245.4

94.5

-229.3

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

478.7

598.9

296.3

249.1

524.3

Cash and Cash Equivalents at End

1,129.4

458.7

541.7

343.6

295.1

    Cash Interest Paid

72.4

40.7

-

-

-

    Cash Taxes Paid

320.6

104.9

-

-

-

 

 

 

 

Financial Health

Financials in: USD (mil)

 

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

 

 

 

 

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

3,404.3

-2.27%

14,171.1

47.63%

27.55%

22.91%

Research & Development1

-

-

26.4

27.91%

30.28%

19.64%

Operating Income1

194.2

-62.28%

1,345.9

26.62%

276.76%

29.47%

Income Available to Common Excl Extraord Items1

148.0

-52.36%

882.9

23.71%

-

20.71%

Basic EPS Excl Extraord Items1

4.65

-52.36%

27.71

23.71%

-

20.71%

Capital Expenditures2

174.4

-0.83%

845.4

124.89%

11.13%

33.37%

Cash from Operating Activities2

-21.5

-

1,460.7

53.57%

-

17.86%

Free Cash Flow

-194.7

-

591.8

6.96%

-

6.84%

Total Assets3

9,559.0

13.09%

9,328.7

22.22%

28.00%

20.91%

Total Liabilities3

4,683.6

11.55%

4,586.8

23.65%

31.54%

25.15%

Total Long Term Debt3

1,349.4

53.27%

1,349.6

39.94%

45.50%

120.37%

Employees3

-

-

1657

-

18.61%

10.52%

Total Common Shares Outstanding3

31.9

0.00%

31.9

0.00%

0.00%

0.00%

1-ExchangeRate: KRW to USD Average for Period

1131.034971

 

1107.891393

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1131.034971

 

1107.891393

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1138.093549

 

1152.000000

 

 

 

Key Ratios

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Profitability

Gross Margin

12.06%

14.35%

14.70%

3.60%

11.36%

Operating Margin

9.50%

11.07%

11.51%

0.37%

7.86%

Pretax Margin

9.72%

11.19%

12.19%

-0.89%

10.06%

Net Profit Margin

6.23%

7.43%

9.28%

-0.62%

7.52%

Financial Strength

Current Ratio

1.79

1.61

1.96

1.36

1.57

Long Term Debt/Equity

0.28

0.25

0.16

0.18

0.03

Total Debt/Equity

0.34

0.36

0.22

0.38

0.06

Interest Coverage

-

1,706,600,794.61

-

-

-

Management Effectiveness

Return on Assets

11.59%

11.70%

15.82%

-0.81%

10.92%

Return on Equity

19.60%

19.18%

24.44%

-1.64%

17.44%

Efficiency

Receivables Turnover

10.49

9.38

11.62

12.67

9.63

Inventory Turnover

11.09

10.63

12.89

12.62

10.53

Asset Turnover

1.61

1.38

1.47

1.52

1.37

Market Valuation USD (mil)

P/E (TTM)

9.49

.

Enterprise Value2

7,478.1

Price/Sales (TTM)

0.48

.

Enterprise Value/Revenue (TTM)

0.55

Price/Book (MRQ)

1.36

.

Enterprise Value/EBITDA (TTM)

5.63

Market Cap as of 29-Jun-20121

6,508.8

.

 

 

1-ExchangeRate: KRW to USD on 29-Jun-2012

1157.641477

 

 

 

2-ExchangeRate: KRW to USD on 31-Mar-2012

1138.093549

 

 

 

 

 

 

Annual Ratios

 

 

Financials in: USD (mil)

 

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

 

 

 



 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Financial Strength

Current Ratio

1.79

1.61

1.96

1.36

1.57

Quick/Acid Test Ratio

1.28

1.07

1.58

0.87

1.10

Working Capital1

1,875.1

1,252.1

1,289.2

372.7

767.7

Long Term Debt/Equity

0.28

0.25

0.16

0.18

0.03

Total Debt/Equity

0.34

0.36

0.22

0.38

0.06

Long Term Debt/Total Capital

0.21

0.18

0.13

0.13

0.03

Total Debt/Total Capital

0.25

0.27

0.18

0.28

0.05

Interest Coverage

-

1,706,600,794.61

-

-

-

Payout Ratio

5.70%

6.04%

5.99%

-17.10%

6.88%

Effective Tax Rate

25.80%

24.39%

11.56%

-

20.91%

Total Capital1

6,354.5

5,421.1

3,902.6

3,072.1

3,245.4

 

 

 

 

 

 

Efficiency

Asset Turnover

1.61

1.38

1.47

1.52

1.37

Inventory Turnover

11.09

10.63

12.89

12.62

10.53

Days In Inventory

32.93

34.33

28.32

28.93

34.67

Receivables Turnover

10.49

9.38

11.62

12.67

9.63

Days Receivables Outstanding

34.80

38.91

31.42

28.80

37.88

Revenue/Employee2

8,224,809

-

4,793,197

6,048,502

6,624,340

Operating Income/Employee2

781,126

-

551,696

22,291

520,640

EBITDA/Employee2

979,472

-

725,623

283,196

919,806

 

 

 

 

 

 

Profitability

Gross Margin

12.06%

14.35%

14.70%

3.60%

11.36%

Operating Margin

9.50%

11.07%

11.51%

0.37%

7.86%

EBITDA Margin

11.91%

13.97%

15.14%

4.68%

13.89%

EBIT Margin

9.50%

11.07%

11.51%

0.37%

7.86%

Pretax Margin

9.72%

11.19%

12.19%

-0.89%

10.06%

Net Profit Margin

6.23%

7.43%

9.28%

-0.62%

7.52%

R&D Expense/Revenue

0.19%

0.21%

0.21%

0.17%

0.23%

COGS/Revenue

87.94%

85.65%

85.30%

96.40%

88.64%

SG&A Expense/Revenue

2.48%

2.80%

2.92%

2.98%

3.10%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

11.59%

11.70%

15.82%

-0.81%

10.92%

Return on Equity

19.60%

19.18%

24.44%

-1.64%

17.44%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

18.57

17.63

34.25

-19.36

-1.17

Operating Cash Flow/Share 2

44.09

29.15

39.47

-2.36

25.26

1-ExchangeRate: KRW to USD Period End Date

1152

1134.9

1164.475

1259.55

936.05

2-ExchangeRate: KRW to USD Average for Period

1152

1134.9

1164.475

1259.55

936.05

 

Current Market Multiples

Market Cap/Earnings (TTM)

9.49

Market Cap/Equity (MRQ)

1.36

Market Cap/Revenue (TTM)

0.48

Market Cap/EBIT (TTM)

6.68

Market Cap/EBITDA (TTM)

4.99

Enterprise Value/Earnings (TTM)

10.72

Enterprise Value/Equity (MRQ)

1.53

Enterprise Value/Revenue (TTM)

0.55

Enterprise Value/EBIT (TTM)

7.54

Enterprise Value/EBITDA (TTM)

5.63

 

 

 

 

 

Annual Income Statement

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Total Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

 

 

 

 

 

 

    Cost of Revenue

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

Cost of Revenue, Total

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

Gross Profit

1,709.0

1,320.1

990.2

247.2

753.1

 

 

 

 

 

 

    Selling/General/Administrative Expense

272.9

206.7

156.2

169.5

164.8

    Labor & Related Expense

75.6

49.2

39.1

34.3

40.1

    Advertising Expense

2.5

1.5

1.1

0.9

0.8

Total Selling/General/Administrative Expenses

351.0

257.5

196.5

204.7

205.7

Research & Development

26.4

19.7

14.1

12.0

15.6

    Depreciation

4.0

2.4

2.5

3.1

3.5

    Amortization of Intangibles

2.3

3.1

2.1

2.0

7.2

Depreciation/Amortization

6.3

5.5

4.5

5.1

10.7

        Investment Income - Operating

1.2

5.3

-

-

-

    Interest/Investment Income - Operating

1.2

5.3

-

-

-

Interest Expense (Income) - Net Operating Total

1.2

5.3

-

-

-

    Impairment-Assets Held for Use

11.9

7.2

-

-

-

    Loss (Gain) on Sale of Assets - Operating

4.0

-12.3

-

-

0.3

    Other Unusual Expense (Income)

0.1

0.0

-

-

-

Unusual Expense (Income)

16.0

-5.1

-

-

0.3

    Other Operating Expense

15.6

43.9

-

-

-

    Other, Net

-53.3

-25.1

-

-

-

Other Operating Expenses, Total

-37.7

18.8

-

-

-

Total Operating Expense

12,825.2

8,179.0

5,959.2

6,848.5

6,105.8

 

 

 

 

 

 

Operating Income

1,345.9

1,018.4

775.1

25.3

520.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-71.3

-46.1

-45.1

-31.5

-14.0

    Interest Expense, Net Non-Operating

-71.3

-46.1

-45.1

-31.5

-14.0

        Interest Income - Non-Operating

43.3

44.2

31.1

38.6

48.7

        Investment Income - Non-Operating

59.9

13.3

22.6

-61.6

105.6

    Interest/Investment Income - Non-Operating

103.2

57.6

53.7

-23.1

154.3

    Interest Income (Expense) - Net Non-Operating

-

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

31.9

11.5

8.6

-54.5

140.3

Gain (Loss) on Sale of Assets

-

-

-1.1

-3.4

5.3

    Other Non-Operating Income (Expense)

-

-0.4

38.1

-28.8

0.5

Other, Net

-

-0.4

38.1

-28.8

0.5

Income Before Tax

1,377.8

1,029.5

820.8

-61.4

666.9

 

 

 

 

 

 

Total Income Tax

355.5

251.1

94.9

-25.0

139.5

Income After Tax

1,022.3

778.4

725.9

-36.4

527.4

 

 

 

 

 

 

    Minority Interest

-139.4

-94.6

-72.5

-5.9

-28.8

    Equity In Affiliates

-

-

-28.3

0.0

-

Net Income Before Extraord Items

882.9

683.8

625.1

-42.3

498.6

Net Income

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Basic/Primary EPS Incl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Dilution Adjustment

0.0

0.0

-

0.0

-

Diluted Net Income

882.9

683.8

625.1

-42.3

498.6

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Diluted EPS Incl Extraord Items

27.71

21.46

19.62

-1.33

15.65

Dividends per Share - Common Stock Primary Issue

1.58

1.30

1.18

0.23

1.08

Gross Dividends - Common Stock

50.3

41.3

37.4

7.2

34.3

Interest Expense, Supplemental

71.3

46.1

45.1

31.5

14.0

Interest Capitalized, Supplemental

-13.8

-4.2

-

-

-

Depreciation, Supplemental

339.1

262.8

242.4

294.4

395.8

Total Special Items

16.0

-5.1

-19.0

-4.9

-5.2

Normalized Income Before Tax

1,393.8

1,024.3

801.8

-66.3

661.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

4.1

-1.3

0.1

1.2

-1.0

Inc Tax Ex Impact of Sp Items

359.7

249.8

95.0

-23.8

138.4

Normalized Income After Tax

1,034.1

774.5

706.9

-42.5

523.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

894.8

679.9

606.0

-48.4

494.4

 

 

 

 

 

 

Basic Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Diluted Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Amort of Acquisition Costs, Supplemental

-

-

-20.0

-8.3

-0.3

Amort of Intangibles, Supplemental

2.6

3.3

1.9

2.1

3.5

Rental Expenses

7.3

4.3

3.3

4.3

4.9

Advertising Expense, Supplemental

2.5

1.5

1.1

0.9

0.8

Research & Development Exp, Supplemental

26.4

19.7

14.1

12.0

15.6

Normalized EBIT

1,363.1

1,018.6

775.1

25.3

521.2

Normalized EBITDA

1,704.8

1,284.7

999.5

313.6

920.2

 

 

 

 

Interim Income Statement

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Restated Calculated
31-Mar-2012

Restated Normal
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Net Sales

3,404.3

3,250.4

3,774.7

3,645.5

3,516.7

Revenue

3,404.3

3,250.4

3,774.7

3,645.5

3,516.7

Total Revenue

3,404.3

3,250.4

3,774.7

3,645.5

3,516.7

 

 

 

 

 

 

    Cost of Revenue

3,132.4

3,028.4

3,305.4

3,210.8

2,927.6

Cost of Revenue, Total

3,132.4

3,028.4

3,305.4

3,210.8

2,927.6

Gross Profit

271.9

222.0

469.3

434.7

589.1

 

 

 

 

 

 

    Selling/General/Administrative Expense

92.6

102.0

90.0

102.3

89.3

Total Selling/General/Administrative Expenses

92.6

102.0

90.0

102.3

89.3

    Other Operating Expense

55.2

63.6

108.6

36.4

31.1

    Other, Net

-70.1

-78.5

-92.8

-37.0

-50.9

Other Operating Expenses, Total

-14.9

-15.0

15.8

-0.6

-19.8

Total Operating Expense

3,210.1

3,115.5

3,411.3

3,312.5

2,997.1

 

 

 

 

 

 

Operating Income

194.2

135.0

363.5

332.9

519.6

 

 

 

 

 

 

        Investment Income - Non-Operating

4.7

-20.9

18.4

46.5

7.7

    Interest/Investment Income - Non-Operating

4.7

-20.9

18.4

46.5

7.7

    Interest Income (Expense) - Net Non-Operating

0.2

-14.8

12.1

-4.2

-10.0

Interest Income (Expense) - Net Non-Operating Total

4.9

-35.7

30.5

42.2

-2.2

Income Before Tax

199.1

99.3

394.0

375.2

517.4

 

 

 

 

 

 

Total Income Tax

38.3

59.2

85.2

82.8

128.6

Income After Tax

160.7

40.0

308.8

292.3

388.9

 

 

 

 

 

 

    Minority Interest

-12.7

4.6

-32.3

-37.4

-75.2

Net Income Before Extraord Items

148.0

44.7

276.4

254.9

313.7

Net Income

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excl Extraord Items

4.65

1.40

8.68

8.00

9.85

Basic/Primary EPS Incl Extraord Items

4.65

1.40

8.68

8.00

9.85

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

148.0

44.7

276.4

254.9

313.7

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excl Extraord Items

4.65

1.40

8.68

8.00

9.85

Diluted EPS Incl Extraord Items

4.65

1.40

8.68

8.00

9.85

Dividends per Share - Common Stock Primary Issue

0.00

1.53

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

48.7

0.0

0.0

0.0

Interest Expense, Supplemental

13.7

17.0

16.7

18.1

19.5

Interest Capitalized, Supplemental

-3.8

-5.2

-4.5

-3.4

-0.7

Depreciation, Supplemental

87.3

-78,158.0

82,826.9

83.8

85.3

Normalized Income Before Tax

199.1

99.3

394.0

375.2

517.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

38.3

59.2

85.2

82.8

128.6

Normalized Income After Tax

160.7

40.0

308.8

292.3

388.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Basic Normalized EPS

4.65

1.40

8.68

8.00

9.85

Diluted Normalized EPS

4.65

1.40

8.68

8.00

9.85

Amort of Intangibles, Supplemental

0.6

0.7

-0.8

2.1

0.6

Rental Expenses

1.9

1.7

2.0

1.9

1.7

Advertising Expense, Supplemental

1.3

1.2

0.3

0.8

0.2

Research & Development Exp, Supplemental

6.6

8.7

5.6

7.1

4.9

Normalized EBIT

194.2

135.0

363.5

332.9

519.6

Normalized EBITDA

282.1

-78,022.3

83,189.6

418.8

605.6

 

 

 

 

Annual Balance Sheet

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

1,086.2

467.3

593.7

300.3

292.9

    Short Term Investments

484.8

566.8

699.2

189.4

462.0

Cash and Short Term Investments

1,570.9

1,034.1

1,293.0

489.7

754.9

        Accounts Receivable - Trade, Gross

1,398.3

1,086.7

742.1

392.2

673.1

        Provision for Doubtful Accounts

-4.5

-4.8

-7.8

-5.0

-9.3

    Trade Accounts Receivable - Net

1,399.8

1,086.1

740.5

392.3

669.8

    Other Receivables

61.5

68.7

81.2

22.9

47.0

Total Receivables, Net

1,461.3

1,154.8

821.6

415.2

716.8

    Inventories - Finished Goods

541.4

449.5

173.6

186.7

230.6

    Inventories - Work In Progress

141.4

149.0

99.9

86.3

147.3

    Inventories - Raw Materials

255.1

235.3

123.6

134.9

184.4

    Inventories - Other

228.6

176.8

89.2

45.7

62.2

Total Inventory

1,166.6

1,010.7

486.2

453.7

624.6

Prepaid Expenses

43.1

37.2

6.6

13.1

8.5

    Deferred Income Tax - Current Asset

-

-

0.4

6.6

1.1

    Other Current Assets

1.8

62.4

19.8

29.3

-

Other Current Assets, Total

1.8

62.4

20.2

36.0

1.1

Total Current Assets

4,243.6

3,299.2

2,627.6

1,407.7

2,105.9

 

 

 

 

 

 

        Buildings

821.2

783.1

704.0

615.3

632.4

        Land/Improvements

388.9

396.0

401.7

261.6

307.8

        Machinery/Equipment

6,754.0

6,636.7

4,772.0

3,823.3

3,984.0

        Construction in Progress

756.5

405.4

132.4

97.2

911.3

        Leases

4.4

-

-

-

-

        Other Property/Plant/Equipment

152.5

183.5

133.3

108.1

70.7

    Property/Plant/Equipment - Gross

8,877.6

8,404.6

6,143.4

4,905.5

5,906.2

    Accumulated Depreciation

-5,138.2

-5,115.7

-3,952.0

-2,974.7

-3,673.3

Property/Plant/Equipment - Net

3,739.4

3,288.9

2,191.4

1,930.8

2,232.9

Goodwill, Net

16.7

38.9

-65.0

-35.0

3.3

Intangibles, Net

17.5

15.4

10.5

3.2

5.6

    LT Investment - Affiliate Companies

942.0

762.6

764.6

564.1

671.5

    LT Investments - Other

151.3

122.4

76.3

63.6

32.4

Long Term Investments

1,093.3

885.0

840.9

627.7

703.9

Note Receivable - Long Term

7.1

6.0

4.6

16.0

16.7

    Deferred Income Tax - Long Term Asset

121.8

132.6

-

32.9

52.2

    Other Long Term Assets

89.3

81.5

51.3

85.7

24.2

Other Long Term Assets, Total

211.0

214.1

51.3

118.6

76.3

Total Assets

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

Accounts Payable

1,544.4

1,026.0

913.7

402.9

847.9

Accrued Expenses

8.0

12.6

28.1

7.0

2.7

Notes Payable/Short Term Debt

154.7

116.9

78.1

422.1

87.5

Current Portion - Long Term Debt/Capital Leases

108.4

343.4

117.6

23.8

-

    Customer Advances

20.7

25.9

6.1

6.0

2.1

    Security Deposits

-

-

0.0

0.0

0.1

    Income Taxes Payable

183.8

190.2

27.7

6.1

54.9

    Other Payables

219.5

249.5

148.2

112.2

333.1

    Deferred Income Tax - Current Liability

-

-

7.4

47.0

2.7

    Other Current Liabilities

128.9

82.6

11.4

7.8

7.3

Other Current liabilities, Total

553.0

548.1

200.9

179.2

400.0

Total Current Liabilities

2,368.5

2,047.1

1,338.4

1,035.0

1,338.2

 

 

 

 

 

 

    Long Term Debt

1,349.1

976.4

504.0

400.8

84.8

    Capital Lease Obligations

0.4

2.5

4.2

-

-

Total Long Term Debt

1,349.6

978.9

508.2

400.8

84.8

Total Debt

1,612.6

1,439.2

703.9

846.7

172.3

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

181.2

159.5

159.1

92.5

245.3

Deferred Income Tax

181.2

159.5

159.1

92.5

245.3

Minority Interest

603.5

483.3

369.7

245.6

321.7

    Reserves

0.6

6.7

0.5

0.4

0.5

    Pension Benefits - Underfunded

23.9

19.2

19.3

15.3

16.6

    Other Long Term Liabilities

59.5

70.8

67.5

53.9

64.4

Other Liabilities, Total

84.1

96.8

87.4

69.6

81.5

Total Liabilities

4,586.8

3,765.6

2,462.7

1,843.4

2,071.5

 

 

 

 

 

 

    Common Stock

138.3

140.4

136.8

126.5

170.2

Common Stock

138.3

140.4

136.8

126.5

170.2

Additional Paid-In Capital

13.4

14.9

406.7

376.0

497.6

Retained Earnings (Accumulated Deficit)

4,503.7

3,766.1

2,532.0

1,713.9

2,390.1

Unrealized Gain (Loss)

51.0

69.1

48.2

14.4

15.3

    Translation Adjustment

41.3

-2.0

-1.3

1.3

0.0

    Other Equity

0.0

0.0

76.2

-6.7

-

    Other Comprehensive Income

-5.9

-6.6

-

-

-

Other Equity, Total

35.4

-8.7

75.0

-5.4

0.0

Total Equity

4,741.8

3,981.9

3,198.7

2,225.5

3,073.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

1,657

-

1,540

993

993

Number of Common Shareholders

-

-

14,544

15,726

15,574

Accumulated Intangible Amort, Suppl.

19.4

21.9

-

-

-

Deferred Revenue - Current

20.7

25.9

6.1

6.0

2.1

Total Long Term Debt, Supplemental

4,071.4

3,364.1

621.4

425.4

84.9

Long Term Debt Maturing within 1 Year

2,585.5

1,803.6

116.3

23.8

16.0

Long Term Debt Maturing in Year 2

371.5

390.1

289.4

115.9

16.0

Long Term Debt Maturing in Year 3

371.5

390.1

-

285.8

52.8

Long Term Debt Maturing in Year 4

371.5

390.1

-

-

-

Long Term Debt Maturing in Year 5

371.5

390.1

-

-

-

Long Term Debt Maturing in 2-3 Years

742.9

780.3

289.4

401.6

68.8

Long Term Debt Maturing in 4-5 Years

742.9

780.3

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

215.6

0.0

0.0

Total Capital Leases, Supplemental

-

-

5.7

-

-

Capital Lease Payments Due in Year 1

-

-

1.4

-

-

Capital Lease Payments Due in Year 2

-

-

1.1

-

-

Capital Lease Payments Due in Year 3

-

-

1.1

-

-

Capital Lease Payments Due in Year 4

-

-

1.1

-

-

Capital Lease Payments Due in Year 5

-

-

1.1

-

-

Capital Lease Payments Due in 2-3 Years

-

-

2.1

-

-

Capital Lease Payments Due in 4-5 Years

-

-

2.1

-

-

Total Operating Leases, Supplemental

-

-

0.0

0.1

0.2

Operating Lease Payments Due in Year 1

-

-

0.0

0.1

0.1

Operating Lease Payments Due in Year 2

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 3

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 4

-

-

-

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

0.0

0.0

0.1

Operating Lease Pymts. Due in 4-5 Years

-

-

-

-

0.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

 

 

 

Interim Balance Sheet

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1138.093549

1152

1178.05

1067.65

1096.95

 

 

 

 

 

 

    Cash & Equivalents

1,051.8

1,086.2

998.0

940.7

562.5

    Short Term Investments

327.0

484.8

444.3

510.2

739.7

Cash and Short Term Investments

1,378.8

1,570.9

1,442.3

1,451.0

1,302.2

        Accounts Receivable - Trade, Gross

1,469.1

1,398.3

1,416.8

1,496.0

1,448.1

        Provision for Doubtful Accounts

-4.0

-4.5

-4.5

-4.7

-5.4

    Trade Accounts Receivable - Net

1,465.1

1,399.8

1,416.4

1,496.7

1,442.6

    Other Receivables

114.8

70.7

90.6

123.0

93.7

Total Receivables, Net

1,579.8

1,470.5

1,507.0

1,619.7

1,536.3

    Inventories - Finished Goods

449.4

394.4

482.1

484.9

409.2

    Inventories - Work In Progress

173.1

141.4

173.8

209.0

190.1

    Inventories - Raw Materials

400.3

255.1

326.6

414.0

444.9

    Inventories - Other

319.1

375.6

353.1

264.6

254.6

Total Inventory

1,341.9

1,166.6

1,335.6

1,372.6

1,298.8

Prepaid Expenses

53.9

33.9

42.5

39.3

40.0

    Other Current Assets

0.0

1.8

1.8

2.1

0.0

Other Current Assets, Total

0.0

1.8

1.8

2.1

0.0

Total Current Assets

4,354.4

4,243.6

4,329.2

4,484.6

4,177.4

 

 

 

 

 

 

        Buildings

1,125.1

821.2

813.3

884.2

864.4

        Land/Improvements

393.7

388.9

382.2

422.8

460.1

        Machinery/Equipment

6,529.5

6,754.0

6,530.5

7,034.3

6,961.1

        Construction in Progress

896.7

756.5

687.3

558.6

428.4

        Leases

4.4

4.4

0.4

4.8

4.7

        Other Property/Plant/Equipment

165.9

152.5

85.5

93.0

189.8

    Property/Plant/Equipment - Gross

9,115.3

8,877.6

8,499.2

8,997.7

8,908.5

    Accumulated Depreciation

-5,265.1

-5,138.2

-4,987.3

-5,372.1

-5,361.7

Property/Plant/Equipment - Net

3,850.2

3,739.4

3,511.9

3,625.7

3,546.9

Goodwill, Net

16.9

16.7

27.5

30.3

29.5

Intangibles, Net

20.4

17.5

17.2

18.3

47.5

    LT Investment - Affiliate Companies

945.0

942.0

945.5

852.3

822.6

    LT Investments - Other

163.4

151.3

143.0

163.3

136.8

Long Term Investments

1,108.3

1,093.3

1,088.4

1,015.7

959.4

Note Receivable - Long Term

3.2

7.1

3.7

6.1

-

    Deferred Income Tax - Long Term Asset

124.6

121.8

125.0

130.8

-

    Other Long Term Assets

81.0

89.3

90.5

90.5

8.8

Other Long Term Assets, Total

205.6

211.0

215.5

221.3

8.8

Total Assets

9,559.0

9,328.7

9,193.4

9,402.0

8,769.4

 

 

 

 

 

 

Accounts Payable

1,622.4

1,544.4

1,512.3

1,691.1

1,529.1

Accrued Expenses

33.6

97.8

73.0

60.6

19.1

Notes Payable/Short Term Debt

253.2

154.7

221.3

291.4

165.4

Current Portion - Long Term Debt/Capital Leases

21.3

108.4

199.1

425.3

412.7

    Dividends Payable

-

-

-

0.0

-

    Customer Advances

-

20.7

14.8

12.1

20.4

    Security Deposits

0.1

0.1

0.1

0.1

-

    Income Taxes Payable

113.0

183.8

149.3

185.6

133.3

    Other Payables

258.6

219.5

186.2

192.1

387.7

    Other Current Liabilities

153.8

39.0

19.7

17.6

62.2

Other Current liabilities, Total

525.5

463.2

370.0

407.4

603.6

Total Current Liabilities

2,456.0

2,368.5

2,375.7

2,875.8

2,729.9

 

 

 

 

 

 

    Long Term Debt

1,349.4

1,349.1

1,332.5

908.8

911.3

    Capital Lease Obligations

-

0.4

1.0

1.6

2.1

Total Long Term Debt

1,349.4

1,349.6

1,333.6

910.4

913.4

Total Debt

1,623.9

1,612.6

1,754.0

1,627.1

1,491.5

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

176.3

181.2

155.4

176.1

54.1

Deferred Income Tax

176.3

181.2

155.4

176.1

54.1

Minority Interest

612.4

603.5

599.6

618.0

564.5

    Reserves

0.4

0.6

0.6

0.6

3.1

    Pension Benefits - Underfunded

27.0

19.9

28.1

29.6

17.8

    Other Long Term Liabilities

62.0

63.6

63.8

81.7

73.4

Other Liabilities, Total

89.5

84.1

92.5

111.9

94.3

Total Liabilities

4,683.6

4,586.8

4,556.8

4,692.2

4,356.2

 

 

 

 

 

 

    Common Stock

140.0

138.3

135.2

149.2

145.2

Common Stock

140.0

138.3

135.2

149.2

145.2

Additional Paid-In Capital

13.5

13.4

12.9

14.2

15.4

Retained Earnings (Accumulated Deficit)

4,651.1

4,503.7

4,362.4

4,537.0

4,179.9

Unrealized Gain (Loss)

55.0

51.0

51.8

62.1

83.3

    Translation Adjustment

19.2

41.3

83.7

-55.5

-10.6

    Other Equity

0.0

0.0

0.0

0.0

0.0

    Other Comprehensive Income

-3.4

-5.9

-9.3

2.9

-

Other Equity, Total

15.8

35.4

74.4

-52.6

-10.6

Total Equity

4,875.4

4,741.8

4,636.6

4,709.8

4,413.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

9,559.0

9,328.7

9,193.4

9,402.0

8,769.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

1,749

1,657

4,055

1,632

1,622

Number of Common Shareholders

-

-

7,026

-

-

Accumulated Intangible Amort, Suppl.

21.1

19.4

20.2

20.2

23.8

Deferred Revenue - Current

-

20.7

14.8

12.1

20.4

Total Long Term Debt, Supplemental

-

4,071.4

-

-

-

Long Term Debt Maturing within 1 Year

-

2,585.5

-

-

-

Long Term Debt Maturing in Year 2

-

371.5

-

-

-

Long Term Debt Maturing in Year 3

-

371.5

-

-

-

Long Term Debt Maturing in Year 4

-

371.5

-

-

-

Long Term Debt Maturing in Year 5

-

371.5

-

-

-

Long Term Debt Maturing in 2-3 Years

-

742.9

-

-

-

Long Term Debt Maturing in 4-5 Years

-

742.9

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

-

0.0

-

-

-

Total Capital Leases, Supplemental

2.2

2.6

-

-

4.1

Capital Lease Payments Due in Year 1

2.2

2.2

-

-

1.9

Capital Lease Payments Due in Year 2

-

0.1

-

-

0.5

Capital Lease Payments Due in Year 3

-

0.1

-

-

0.5

Capital Lease Payments Due in Year 4

-

0.1

-

-

0.5

Capital Lease Payments Due in Year 5

-

0.1

-

-

0.5

Capital Lease Payments Due in 2-3 Years

-

0.2

-

-

1.1

Capital Lease Payments Due in 4-5 Years

-

0.2

-

-

1.1

 

 

 

 

Annual Cash Flows

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

1,022.3

778.4

697.6

-36.4

527.4

    Depreciation

339.1

262.8

242.4

294.4

395.8

Depreciation/Depletion

339.1

262.8

242.4

294.4

395.8

    Amortization of Intangibles

2.6

3.3

2.0

2.1

7.3

Amortization

2.6

3.3

2.0

2.1

7.3

Deferred Taxes

-

-

11.9

-36.9

37.2

    Unusual Items

15.3

-5.6

-5.3

45.1

-1.5

    Equity in Net Earnings (Loss)

-49.7

-5.1

-15.9

-51.9

-106.4

    Other Non-Cash Items

454.6

292.0

-15.9

29.9

20.7

Non-Cash Items

420.3

281.3

-37.2

23.1

-87.2

    Accounts Receivable

-388.9

-128.7

-308.3

129.0

-114.1

    Inventories

-146.0

-173.4

62.9

-22.9

-146.6

    Prepaid Expenses

-

-

9.5

-5.9

3.2

    Other Assets

30.4

-3.7

29.0

1.1

-

    Accounts Payable

508.1

3.1

421.5

-391.4

203.5

    Accrued Expenses

-

-

-0.1

5.4

0.1

    Taxes Payable

-

-

22.7

-43.4

-7.2

    Other Liabilities

-6.5

-6.9

-7.6

-4.4

-8.9

    Other Operating Cash Flow

-320.6

-104.9

0.9

0.3

0.2

Changes in Working Capital

-323.6

-414.3

230.5

-332.2

-69.7

Cash from Operating Activities

1,460.7

911.4

1,147.4

-85.9

810.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-842.1

-359.2

-151.8

-620.1

-848.3

    Purchase/Acquisition of Intangibles

-3.3

-1.0

0.0

0.0

-0.2

Capital Expenditures

-845.4

-360.2

-151.8

-620.2

-848.4

    Acquisition of Business

-186.0

-1,303.3

-

-

-

    Sale of Business

-

3.7

-

-

-

    Sale of Fixed Assets

17.9

28.5

0.4

10.6

10.4

    Sale/Maturity of Investment

3,862.7

2,351.1

679.0

759.2

1,181.5

    Purchase of Investments

-3,790.6

-2,195.5

-1,223.2

-639.2

-1,285.9

    Sale of Intangible Assets

-

0.0

-

-

-

    Other Investing Cash Flow

74.6

47.5

-5.0

-3.9

-12.7

Other Investing Cash Flow Items, Total

-21.4

-1,068.0

-548.7

126.8

-106.7

Cash from Investing Activities

-866.8

-1,428.2

-700.6

-493.4

-955.1

 

 

 

 

 

 

    Other Financing Cash Flow

-62.6

-41.0

-21.0

4.5

0.1

Financing Cash Flow Items

-62.6

-41.0

-21.0

4.5

0.1

    Cash Dividends Paid - Common

-59.0

-49.6

-6.2

-28.9

-25.7

Total Cash Dividends Paid

-59.0

-49.6

-6.2

-28.9

-25.7

        Short Term Debt Issued

496.6

92.7

164.7

1,570.1

53.8

        Short Term Debt Reduction

-429.5

-99.5

-534.6

-1,193.5

-165.0

    Short Term Debt, Net

67.2

-6.8

-369.9

376.6

-111.3

        Long Term Debt Issued

455.2

600.0

195.9

344.4

51.9

        Long Term Debt Reduction

-344.0

-126.1

-0.1

-22.7

-

    Long Term Debt, Net

111.2

473.9

195.8

321.7

51.9

Issuance (Retirement) of Debt, Net

178.3

467.2

-174.1

698.3

-59.3

Cash from Financing Activities

56.7

376.6

-201.4

673.8

-85.0

 

 

 

 

 

 

Net Change in Cash

650.7

-140.2

245.4

94.5

-229.3

 

 

 

 

 

 

Net Cash - Beginning Balance

478.7

598.9

296.3

249.1

524.3

Net Cash - Ending Balance

1,129.4

458.7

541.7

343.6

295.1

Cash Interest Paid

72.4

40.7

-

-

-

Cash Taxes Paid

320.6

104.9

-

-

-

 

 

 

 

Interim Cash Flows

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Reclassified Normal
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income/Starting Line

160.7

1,022.3

991.9

693.8

388.9

    Depreciation

87.3

339.1

252.0

169.1

85.3

Depreciation/Depletion

87.3

339.1

252.0

169.1

85.3

    Amortization of Intangibles

0.6

2.6

1.9

2.7

0.6

    Amortization of Acquisition Costs

-

-

-

-8.0

-

Amortization

0.6

2.6

1.9

-5.3

0.6

    Unusual Items

7.0

15.3

-23.5

37.8

-1.6

    Equity in Net Earnings (Loss)

-4.7

-49.7

-72.1

-53.5

-7.7

    Other Non-Cash Items

48.6

454.6

350.9

218.3

137.5

Non-Cash Items

50.9

420.3

255.3

202.5

128.2

    Accounts Receivable

-53.7

-388.9

-347.2

-371.5

-340.7

    Inventories

-165.6

-146.0

-327.3

-314.9

-244.9

    Other Assets

-11.0

30.4

23.7

-11.8

-2.2

    Accounts Payable

70.0

508.1

370.8

480.8

504.7

    Other Liabilities

-42.4

-6.5

-7.2

-39.9

5.1

    Other Operating Cash Flow

-118.4

-320.6

-322.2

-215.9

-179.0

Changes in Working Capital

-321.1

-323.6

-609.4

-473.3

-257.1

Cash from Operating Activities

-21.5

1,460.7

891.7

586.8

345.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-171.0

-842.1

-569.5

-343.9

-176.3

    Purchase/Acquisition of Intangibles

-3.4

-3.3

-2.6

-2.6

-1.3

Capital Expenditures

-174.4

-845.4

-572.1

-346.4

-177.6

    Acquisition of Business

-2.6

-186.0

-

-15.7

-5.5

    Sale of Fixed Assets

0.3

17.9

18.0

17.5

0.7

    Sale/Maturity of Investment

219.3

3,862.7

3,040.5

1,702.4

305.8

    Purchase of Investments

-44.7

-3,790.6

-3,130.0

-1,585.3

-392.4

    Other Investing Cash Flow

11.0

74.6

54.4

45.1

4.7

Other Investing Cash Flow Items, Total

183.3

-21.4

-17.1

164.0

-86.6

Cash from Investing Activities

8.8

-866.8

-589.2

-182.4

-264.2

 

 

 

 

 

 

    Other Financing Cash Flow

-10.0

-62.6

-52.7

-41.8

-18.0

Financing Cash Flow Items

-10.0

-62.6

-52.7

-41.8

-18.0

    Cash Dividends Paid - Common

-

-59.0

-59.7

-59.3

-

Total Cash Dividends Paid

-

-59.0

-59.7

-59.3

-

        Short Term Debt Issued

-

496.6

474.6

-

-

        Short Term Debt Reduction

-

-429.5

-340.8

-253.2

-

    Short Term Debt, Net

-

67.2

133.8

-253.2

-

        Long Term Debt Issued

-

455.2

456.4

1.7

-

        Long Term Debt Reduction

-0.5

-344.0

-228.0

-1.7

-

    Long Term Debt, Net

-0.5

111.2

228.4

0.0

-

    Total Debt Issued

92.6

-

-

381.3

117.0

    Total Debt Reduction

-109.5

-

-

-

-97.3

Issuance (Retirement) of Debt, Net

-17.5

178.3

362.2

128.2

19.7

Cash from Financing Activities

-27.5

56.7

249.9

27.0

1.7

 

 

 

 

 

 

Foreign Exchange Effects

-7.7

-

36.7

-1.2

-5.9

Net Change in Cash

-47.9

650.7

589.0

430.2

77.4

 

 

 

 

 

 

Net Cash - Beginning Balance

1,106.3

478.7

484.1

481.3

473.4

Net Cash - Ending Balance

1,058.4

1,129.4

1,073.1

911.5

550.8

Cash Interest Paid

13.0

72.4

52.7

34.2

18.0

Cash Taxes Paid

118.4

320.6

322.2

215.9

179.0

 

 

 

 

Annual Income Statement

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

Total Revenue

14,171.1

9,197.4

6,734.3

6,873.8

6,626.6

 

 

 

 

 

 

    Costs of Goods and Services Sold

12,462.1

7,877.3

5,744.1

6,626.6

5,873.5

    Salaries and Wages

58.8

37.8

31.7

24.9

30.5

    Retirement and Severance Benefits

4.0

4.2

2.4

3.6

3.7

    Employee Benefits

12.7

7.2

5.0

5.8

5.8

    Commissions

27.1

24.4

27.2

34.4

17.8

    Travel Expenses

4.5

3.3

1.9

2.2

2.4

    Utility Expenses

0.1

0.1

0.1

0.0

0.0

    Taxes and Dues

2.6

1.8

1.1

1.8

1.3

    Communication Expenses

1.9

1.0

0.9

0.7

0.8

    Rental Expenses

7.3

4.3

3.3

4.3

4.9

    Insurance Expenses

0.3

0.2

0.1

0.1

0.1

    Entertainment

1.5

1.0

1.1

1.2

1.5

    Expenses for Samples

-

-

0.7

1.2

0.7

    Transport & Storage

187.5

149.2

109.0

113.5

71.4

    Services Expenses

-

-

1.9

1.9

7.0

    Registration Fees

-

-

0.0

0.0

0.0

    Safety Expense

-

-

0.0

0.0

0.0

    Consumable Expense

0.7

0.3

0.2

0.1

0.2

    Uniform Expenses

-

-

0.0

0.0

0.0

    Repair & Maintenance

4.3

2.2

2.1

1.5

1.5

    Publication Expenses

0.3

0.3

0.3

0.2

0.3

    Vehicle Maintenance Expenses

1.2

1.2

-

-

-

    Vehicle & Transport.

-

-

1.0

0.8

0.8

    Exporting Expenses

-

-

-

-

37.9

    Education & Training

2.2

1.3

1.0

1.3

1.7

    Conference Expenses

-

-

-

-

0.1

    Packaging Expenses

-

-

-

-

8.4

    Advertising Expenses

2.1

1.2

1.1

0.9

0.8

    Sales Promotional Expenses

0.4

0.3

-

-

-

    Miscellaneous Operating Expense

-

-

1.6

2.7

0.9

    R & D Expenses

26.4

19.7

14.1

12.0

15.6

    Depreciation

4.0

2.4

2.5

3.1

3.5

    Amortization of Intangible Assets

2.3

3.1

2.1

2.0

7.2

    Sample Expenses

0.8

1.0

-

-

-

    Compensation Expense

0.0

-

-

-

-

    Expenses of Allowance for Doubtful Accou

0.4

0.1

2.8

1.5

2.8

    Computing Expense

-

-

-

-

0.3

    Sales Commissions

14.2

12.9

-

-

2.4

    Damage Compensation Expense

0.1

0.0

-

-

-

    Miscellaneous Expenses

16.0

2.4

-

-

-

    Adjustment for Selling and Administrativ

0.0

-

-

-

-

    Gain on Foreign Currency Transactions

-199.5

-127.0

-

-

-

    Gain on Foreign Currency Translation

-5.7

-13.4

-

-

-

    Reversal of Allowance for Doubtful Accou

-0.7

-0.1

-

-

-

    Gain on Disposal of Property, Plant and

-1.0

-14.2

-

-

-

    Dividend Income

-0.3

-1.3

-

-

-

    Gain on Purchase at Bargain Price

-8.0

-

-

-

-

    Miscellaneous Income

-44.4

-23.7

-

-

-

    Adjustment for Other Operating Income

0.0

0.0

-

-

-

    Loss on Foreign Currency Transactions

138.9

134.3

-

-

-

    Loss on Foreign Currency Translation

67.5

11.4

-

-

-

    Loss on Disposal of Property, Plant and

4.9

1.6

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Loss on Disposal of Trade Receivable

0.1

0.3

-

-

-

    Loss on Inventory Obsolescence

0.0

-

-

-

-

    Donations Paid

5.7

4.5

-

-

-

    Other Allowance for Doubtful Accounts

-

31.9

-

-

-

    Impairment Loss on Goodwill

11.9

7.2

-

-

-

    Miscellaneous Loss

9.9

7.5

-

-

-

    Adjustment for Other Operating Expense

-

0.0

-

-

-

Total Operating Expense

12,825.2

8,179.0

5,959.2

6,848.5

6,105.8

 

 

 

 

 

 

    Interest Income

43.3

44.2

31.1

38.6

48.7

    Rental Income

-

-

4.3

4.5

4.5

    Fees and Commissions Received

-

-

0.3

1.1

0.0

    Gain on Foreign Currency Transactions

17.3

17.2

146.5

242.9

43.3

    Gain on Foreign Currency Translations

5.2

0.7

31.6

33.3

10.4

    Gain on Disposal of Investment Assets

-

-

-

-

0.4

    Gain on Derivatives Transaction

11.7

31.9

0.6

20.3

-

    G-Secs. for Sale Disposal

-

-

0.0

0.1

0.0

    Gain on Valuations of Derivatives

4.5

24.8

0.4

125.5

2.6

    Gain on Valuation of Financial Assets at

3.6

0.2

-

-

-

    Dividend Income

-

-

-

1.2

1.2

    G-Tang Asst Disposal

-

-

0.1

11.8

7.4

    Reversal-Neg.Goodwil

-

-

20.1

8.3

4.1

    Recapture Doubt Acct

-

-

0.1

2.4

0.0

    Import Violation Fee

-

-

0.1

0.0

0.0

    Gain-Assets Contributed

-

-

13.1

-

-

    Gain-Disposal of Equity Method Sec.

-

-

8.8

-

-

    Gain from Guest Houses

-

-

-

-

0.1

    Gain from Welfare Facilities

-

-

-

-

0.1

    Gain from Housing Facilities

-

-

-

-

0.8

    Fee Income on Facilities Usage

-

-

-

-

0.9

    Miscellaneous Income

-

-

8.0

7.4

6.4

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Interest Expenses

-71.3

-46.1

-45.1

-31.5

-14.0

    L-Secs for Sale Disposal

-

-

-0.4

-

-0.1

    Loss on Derivative Transaction

-0.5

-2.5

-0.2

-

-

    L-Tangible Assets Disposal

-

-

-0.2

-14.6

-1.9

    Loss on Foreign Currency Transactions

-21.1

-38.4

-140.2

-391.6

-41.0

    Loss on Foreign Currency Translations

-6.0

-25.1

-12.8

-143.5

-17.6

    Loss on Valuation of Other Derivatives

-

-0.5

-26.8

-1.7

-

    Loss on Valuation of Financial Assets at

-4.5

0.0

-

-

-

    NE Loss on Disposal of Accounts Receivab

-

-

-1.0

-0.5

-0.2

    Other Repairment Expense

-

-

-1.1

-1.3

-1.3

    Other Amortization

-

-

-1.1

-2.4

-0.2

    Other Fee & Charges Paid

-

-

-

-

-0.2

    Suspended Fixed Maintaince Exp.

-

-

-

-0.5

-0.3

    Donations Paid

-

-

-2.7

-2.2

-6.0

    Expense for Guest Houses

-

-

-

-

-0.6

    Expense for Welfare Facilities

-

-

-

-

-0.3

    Expense for Housing Facilities

-

-

-

-

-2.5

    Expense for Facilities Usage

-

-

-

-

-0.5

    Depreciation Exp for Suspended Assets

-

-

-0.2

-2.9

-2.2

    Miscellaneous Exp.

-

-

-2.7

-43.1

-2.3

    Gain under Equity Method

49.7

5.1

26.6

63.3

106.5

    Loss under Equity Method

-

-

-11.1

-11.4

-

    Loss-Reduction of Eqiuty Method Sec.

-

-

-

-

-0.1

    Loss-Reduction of Tangible Assets

-

-

0.0

-

-

    Loss-Reduction of Intangible Assets

-

-

-0.3

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Other Non-Operating Income/Loss

-

-0.4

-

-

-

Net Income Before Taxes

1,377.8

1,029.5

820.8

-61.4

666.9

 

 

 

 

 

 

Provision for Income Taxes

355.5

251.1

94.9

-25.0

139.5

Net Income After Taxes

1,022.3

778.4

725.9

-36.4

527.4

 

 

 

 

 

 

    Minority Interest

-139.4

-94.6

-72.5

-5.9

-28.8

    Earning Before Acquisition of Subsidiary

-

-

-28.3

0.0

-

Net Income Before Extra. Items

882.9

683.8

625.1

-42.3

498.6

Net Income

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

882.9

683.8

625.1

-42.3

498.6

 

 

 

 

 

 

Basic Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excluding ExtraOrdinary Items

27.71

21.46

19.62

-1.33

15.65

Basic EPS Including ExtraOrdinary Item

27.71

21.46

19.62

-1.33

15.65

Dilution Adjustment

0.0

0.0

-

0.0

-

Diluted Net Income

882.9

683.8

625.1

-42.3

498.6

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excluding ExtraOrd Items

27.71

21.46

19.62

-1.33

15.65

Diluted EPS Including ExtraOrd Items

27.71

21.46

19.62

-1.33

15.65

DPS-Common Stock

1.58

1.30

1.18

0.23

1.08

Gross Dividends - Common Stock

50.3

41.3

37.4

7.2

34.3

Normalized Income Before Taxes

1,393.8

1,024.3

801.8

-66.3

661.6

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

359.7

249.8

95.0

-23.8

138.4

Normalized Income After Taxes

1,034.1

774.5

706.9

-42.5

523.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

894.8

679.9

606.0

-48.4

494.4

 

 

 

 

 

 

Basic Normalized EPS

28.08

21.34

19.02

-1.52

15.52

Diluted Normalized EPS

28.08

21.34

19.02

-1.52

15.52

R&D Expense, Supplemental

26.4

19.7

14.1

12.0

15.6

Advertising Expense

2.5

1.5

1.1

0.9

0.8

Interest Expense, Supplemental

71.3

46.1

45.1

31.5

14.0

Interest Capitalized, Supplemental

-13.8

-4.2

-

-

-

Rental Expense, Supplemental

7.3

4.3

3.3

4.3

4.9

Depreciation, Supplemental

339.1

262.8

242.4

294.4

395.8

Amort of Intangibles, Supplemental

2.6

3.3

1.9

2.1

3.5

Amortization of Acquisition Cost

-

-

0.1

0.0

3.8

Amortization of Neg-Acquisition Cost

-

-

-20.1

-8.3

-4.1

 

 

 

 

Interim Income Statement

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Restated Calculated
31-Mar-2012

Restated Normal
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Sales Revenue

3,404.3

3,250.4

3,774.7

3,645.5

3,516.7

Total Revenue

3,404.3

3,250.4

3,774.7

3,645.5

3,516.7

 

 

 

 

 

 

    Costs of Goods and Services Sold

3,132.4

3,028.4

3,305.4

3,210.8

2,927.6

    Selling and Administrative Expenses

92.6

102.0

90.0

102.3

89.3

    Other Operating Income

-70.1

-78.5

-92.8

-37.0

-50.9

    Other Operating Expense

55.2

63.6

108.6

36.4

31.1

Total Operating Expense

3,210.1

3,115.5

3,411.3

3,312.5

2,997.1

 

 

 

 

 

 

    Finance Income

31.6

-1.9

69.4

-16.0

35.0

    Finance Expense

-31.4

-12.9

-57.3

11.8

-45.0

    Gain under Equity Method

4.7

-20.9

18.4

46.5

7.7

Net Income Before Taxes

199.1

99.3

394.0

375.2

517.4

 

 

 

 

 

 

Provision for Income Taxes

38.3

59.2

85.2

82.8

128.6

Net Income After Taxes

160.7

40.0

308.8

292.3

388.9

 

 

 

 

 

 

    Minority Interest

-12.7

4.6

-32.3

-37.4

-75.2

Net Income Before Extra. Items

148.0

44.7

276.4

254.9

313.7

Net Income

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Basic Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Basic EPS Excluding ExtraOrdinary Items

4.65

1.40

8.68

8.00

9.85

Basic EPS Including ExtraOrdinary Item

4.65

1.40

8.68

8.00

9.85

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

148.0

44.7

276.4

254.9

313.7

Diluted Weighted Average Shares

31.9

31.9

31.9

31.9

31.9

Diluted EPS Excluding ExtraOrd Items

4.65

1.40

8.68

8.00

9.85

Diluted EPS Including ExtraOrd Items

4.65

1.40

8.68

8.00

9.85

DPS-Common Stock

0.00

1.53

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

48.7

0.0

0.0

0.0

Normalized Income Before Taxes

199.1

99.3

394.0

375.2

517.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

38.3

59.2

85.2

82.8

128.6

Normalized Income After Taxes

160.7

40.0

308.8

292.3

388.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

148.0

44.7

276.4

254.9

313.7

 

 

 

 

 

 

Basic Normalized EPS

4.65

1.40

8.68

8.00

9.85

Diluted Normalized EPS

4.65

1.40

8.68

8.00

9.85

Interest Expense, Supplemental

13.7

17.0

16.7

18.1

19.5

Interest Capitalized, Supplemental

-3.8

-5.2

-4.5

-3.4

-0.7

Rental Expense, Supplemental

1.9

1.7

2.0

1.9

1.7

Research & Development Exp, Supplemental

6.6

8.7

5.6

7.1

4.9

Advertising Expense, Supplemental

1.3

1.2

0.3

0.8

0.2

Depreciation, Supplemental

87.3

-78,158.0

82,826.9

83.8

85.3

Amort of Intangibles, Supplemental

0.6

0.7

-0.8

2.1

0.6

 

 

 

 

Annual Balance Sheet

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

1,086.2

467.3

593.7

300.3

292.9

    Current Financial Instruments

484.6

566.2

698.9

186.0

461.6

    Financial Assets at Fair Value Through P

0.0

0.4

-

-

-

    Adjustments for Other Financial Instrume

0.0

0.0

-

-

-

    Derivatives

-

-

19.8

29.3

-

    Loans

0.7

9.0

17.3

-

-

    Current Securities Available-for-Sale

0.2

0.3

0.3

3.4

0.4

    Trade Rcvb Gross

1,398.3

1,086.7

742.1

392.2

673.1

    Allowance for Doubtful Accounts for Trad

-4.5

-4.8

-7.8

-5.0

-9.3

    Account Receivables

60.7

61.2

63.6

17.3

47.0

    Allowance for Doubtful Accounts for Acco

-

-1.5

-

-

-

    Capital Lease Bonds

0.1

-

-

-

-

    Adjustment for Trade & Other Receivables

0.0

-

-

-

-

    Advance Payments

67.0

38.0

38.6

4.8

1.9

    Prepaid Expenses

13.7

13.1

5.6

7.1

5.8

    Prepaid Value Added Taxes

20.2

13.9

1.0

6.0

2.7

    Current Tax Assets

9.2

10.1

-

-

-

    Accrued Income

5.9

4.2

6.1

5.1

6.0

    Income Tax Refund Receivable

-

-

0.2

5.6

0.0

    Deferred Income Tax

-

-

0.4

6.6

1.1

    Guarantee Deposit, Current

1.8

8.0

-

-

-

    Derivative Assets for Risk Hedge

-

54.4

-

-

-

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Merchandises

12.6

6.4

9.6

2.7

0.0

    Finished Goods

381.9

319.4

159.0

182.5

209.2

    Semi-finish Good

113.7

118.0

30.4

30.4

63.8

    Works in Process

27.7

31.0

69.5

55.9

83.5

    Raw Materials

226.2

214.6

-

-

-

    Raw Materials

28.9

20.7

123.6

132.5

184.4

    Residual Products

-

-

-

2.4

0.0

    Goods in Transit

147.0

123.8

5.0

1.5

21.4

    Supplies

161.6

138.8

50.6

40.9

60.3

    Adjustment for Inventories

0.0

0.0

-

-

-

Total Current Assets

4,243.6

3,299.2

2,627.6

1,407.7

2,105.9

 

 

 

 

 

 

    Non-Current Financial Instruments

22.0

0.2

0.1

0.0

0.0

    Adjustment for Non-Current Financial Ins

0.0

0.0

-

-

-

    Loans

4.0

4.3

4.6

16.0

16.7

    Receivable-Capital Lease

3.2

1.7

-

-

-

    Investment in Properties

40.1

35.3

-

-

-

    Investment in Affiliates

669.4

553.4

-

-

-

    Investments in Jointly Controlled Entiti

272.6

209.2

-

-

-

    Affiliates Stock

-

-

764.6

564.1

671.5

    Non-Current Securities Available-for-Sal

89.2

86.8

76.1

61.5

29.6

    Guarantee Deposits, Non-Current Assets

3.0

2.9

7.5

5.0

6.8

    Non-Current Prepaid Expenses

82.2

77.9

10.7

10.7

16.5

    Derivatives

-

-

33.2

70.0

0.8

    Derivative Assets for Risk Hedge, Non-Cu

4.1

0.7

-

-

-

    Other Investment Assets

-

-

0.1

2.1

2.8

    Non-Current Deferred Income Taxes Assets

121.8

132.6

-

32.9

52.2

    Lands

388.9

396.0

401.7

261.6

307.8

    Buildings

346.5

334.4

300.5

261.0

270.4

    Buildings Depre.

-103.6

-104.6

-79.4

-55.8

-65.2

    Buildings-Reduction

-2.2

-

-

-

-

    Structures

476.9

448.7

403.5

354.3

362.1

    Structure Depre.

-271.3

-265.8

-198.7

-174.6

-219.9

    Tools/Equipments

40.9

37.9

34.7

35.1

40.2

    Tool/Equip Depr.

-33.1

-30.9

-27.8

-26.7

-31.9

    Machineries & Equipments

6,666.0

6,538.7

4,693.7

3,758.3

3,907.3

    Machineries & Equipments-Depreciation

-4,620.6

-4,533.2

-3,523.3

-2,649.3

-3,302.0

    Machineries & Equipments-Reduction

-14.0

-

-

-

-

    Machineries & Equipments-Government Subs

-0.5

-0.7

-0.3

-0.2

-

    Vehicles

10.8

12.0

7.8

6.6

8.2

    Vehicles-Depreciation

-9.1

-9.4

-6.7

-5.2

-6.6

    Fixtures

51.0

48.9

36.1

23.5

28.3

    Deprec. Fixtures

-42.6

-42.6

-31.2

-18.6

-22.7

    Other Property Plant & Equipment

152.5

183.5

133.3

108.1

70.7

    Other Tangible Assets-Depreciation

-53.9

-129.2

-84.9

-44.5

-25.0

    Capital Lease Assets

4.4

-

-

-

-

    Capital Lease Assets-Depreciation

-4.1

-

-

-

-

    Constrct in Prog

756.5

405.4

132.4

97.2

911.3

    Adjustment for Property, Plant & Equipme

-

0.0

-

-

-

    Industrial Property Rights

0.9

0.6

0.1

0.0

0.1

    Membership Rights

5.7

5.8

-

-

-

    Dock Facilit Rts

-

0.0

0.0

0.1

0.3

    Other Intangible Assets

11.0

9.0

10.4

3.1

5.2

    Goodwill

16.7

38.9

7.2

-

26.2

    Negative Goodwill

-

-

-72.2

-35.0

-22.9

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    Current Trade Payables

1,544.4

1,026.0

913.7

402.9

847.9

    Other Payables

219.5

249.5

148.2

112.2

333.1

    Adjustment for Current Trade & Other Pay

-

0.0

-

-

-

    Current Tax Liabilities

183.8

190.2

27.7

6.1

54.9

    Accrued Expenses

-

-

28.1

6.8

2.7

    Advance from Customers, Current Liabilit

14.5

22.1

6.1

6.0

2.1

    Unearned Income

6.2

3.8

-

-

-

    Withholdings

28.2

14.4

10.7

5.3

7.3

    Current Portion of Bonds

86.8

293.6

62.8

23.8

-

    Capital Leased Liabilities, Current

2.2

1.7

-

-

-

    Current Borrowings

154.7

116.9

78.1

422.1

87.5

    Adjustment for Current Portion of LT Deb

-

-

-

-

-

    Value Added Taxes Withholdings

8.0

12.6

0.1

0.2

-

    Current Portion of LT Debt

19.5

48.1

53.5

-

-

    Financial Liabilities at Fair Value Thro

0.5

0.4

-

-

-

    Other Current Financial Liabilities

89.9

67.8

-

-

-

    Reserve for Current Liabilities

2.7

-

-

-

-

    Deferred Income Tax Credits

-

-

7.4

47.0

2.7

    Derivatives in Liabilities, Current

-

-

0.8

2.5

-

    Sec Dep Withheld

-

-

0.0

0.0

0.1

    Current Portion of Capital Leases

-

-

1.4

-

-

    Discount on Debentures Issuance, Current

-

-

-0.1

-

-

    Other Current Liabilities

7.6

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

-

-

-

-

Total Current Liabilities

2,368.5

2,047.1

1,338.4

1,035.0

1,338.2

 

 

 

 

 

 

    Bonds

1,201.4

862.6

482.7

326.8

32.0

    Non-Current Borrowings

147.8

113.7

22.7

74.0

52.8

    Capital Lease Liabilities

0.4

2.5

4.2

-

-

    Discount on Issuance of Debentures

0.0

0.0

-1.4

-

-

Total Long Term Debt

1,349.6

978.9

508.2

400.8

84.8

 

 

 

 

 

 

    Derivative Products in Liabilities

-

-

-

-

0.7

    Deferred Income Taxes, Non-Current Liabi

181.2

159.5

159.1

92.5

245.3

    LL Security Dep

-

-

10.4

9.5

12.8

    LT Account Payables

-

-

57.1

44.4

50.9

    Accident Reserves

-

-

0.5

0.4

0.5

    Non-Current Provisions

0.6

6.7

-

-

-

    Retire Reserve

-

-

57.0

15.3

16.6

    Retirement & Severance Benefits, Non-Cur

19.9

14.4

-

-

-

    Non-Current Employees Benefits Liabiliti

4.0

4.8

-

-

-

    Minority Interests

603.5

483.3

369.7

245.6

321.7

    LT Deposit Withheld

-

-

0.0

-

-

    Other Non-Current Financial Liabilities

59.5

70.8

-

-

-

    Deposit-Retirement Insurance

-

-

-37.6

-

-

    Transfer to National Pension Fund

-

-

-0.1

-

-

Total Liabilities

4,586.8

3,765.6

2,462.7

1,843.4

2,071.5

 

 

 

 

 

 

    Common Stock

138.3

140.4

136.8

126.5

170.2

    Additional Paid in Capital

19.9

20.2

19.7

18.2

497.6

    Other Capital

-6.5

-5.3

387.0

4.4

-

    Reserve for Assets Revaluation

-

-

-

353.4

-

    Adjustment for Other Paid-in Capital

0.0

0.0

-

-

-

    Legal Reserve

-

-

20.5

18.5

21.3

    Voluntary Reserves

-

-

1,825.2

1,730.1

1,868.6

    Retained Earnings or Accumulated Deficit

4,503.7

3,766.1

-

-

-

    Gain-Valuation of Sec Available for Sale

-

-

0.8

0.6

1.3

    Capital Change under Equity Method

47.8

67.5

53.7

24.4

15.4

    Negative Capital Change-Equity Method

-

-

-0.3

-1.7

-0.2

    Overseas Business Translation Debit/Cred

41.3

-2.0

-1.3

1.3

0.0

    Gain/Losses on Valuation of Securities A

3.2

1.6

-

-

-

    Gain-Valuation of Derivatives

-

-

-

-

-1.3

    Loss-Valu. of Sec. Available for Sale

-

-

-1.7

-

-

    Retained Earning

-

-

686.2

-34.6

500.2

    Consolidated Capital Adjustment

-

-

-7.4

-6.7

-

    Loss-Valuation of Derivatives

-

-

-4.2

-8.8

-

    Gain/Losses on Valuation of Derivatives

-5.9

-6.6

-

-

-

    Revaluation Adjustment

-

-

83.7

-

-

    Adjustment for Other Capital Items

0.0

0.0

-

-

-

Total Equity

4,741.8

3,981.9

3,198.7

2,225.5

3,073.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

9,328.7

7,747.4

5,661.5

4,068.8

5,144.6

 

 

 

 

 

 

    S/O-Common Stock

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

T/S-Common Stock

0.0

0.0

0.0

0.0

0.0

Deferred Revenue, Current

20.7

25.9

6.1

6.0

2.1

Accumulated Intangible Amort, Suppl.

19.4

21.9

-

-

-

Full-Time Employees

1,657

-

1,540

993

993

Number of Common Shareholders

-

-

14,544

15,726

15,574

Long Term Debt Maturing within 1 Year

2,585.5

1,803.6

116.3

23.8

-

Long Term Debt Maturing in 2 Years

-

-

289.4

115.9

32.0

Long Term Debt Maturing in 3 Years

-

-

-

285.8

52.8

Long Term Debt Maturing in Year 5

1,485.9

1,560.5

-

-

-

Long Term Debt Maturing Remaining

-

-

215.6

-

-

Total Long Term Debt, Supplemental

4,071.4

3,364.1

621.4

425.4

84.9

Capital Lease Payments Due within 1 Year

-

-

1.4

-

-

Capital Lease Payments Due in Year 5

-

-

4.2

-

-

Total Capital Leases

-

-

5.7

-

-

Operating Lease Pymt Due in Year 1

-

-

0.0

0.1

0.1

Operating Lease Pymt Due in Year 2

-

-

0.0

0.0

0.1

Operating Lease Pymt Due in Year 3

-

-

0.0

0.0

0.0

Operating Lease Pymt Due in Year 4

-

-

-

-

0.0

Total Operating Leases

-

-

0.0

0.1

0.2

 

 

 

 

Interim Balance Sheet

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1138.093549

1152

1178.05

1067.65

1096.95

 

 

 

 

 

 

    Cash & Cash Equivalents

1,051.8

1,086.2

998.0

940.7

562.5

    Current Financial Instruments

317.0

484.6

443.8

463.7

-

    Financial Assets at Fair Value Through P

0.4

0.0

0.4

46.2

-

    Current Available-for-Sale Financial Ass

0.0

0.2

0.2

0.3

-

    Other Financial Instruments

9.6

-

-

-

-

    Adjustments for Other Financial Instrume

-

0.0

-

-

-

    ST Receivable-Capital Lease

-

-

0.1

0.1

-

    Income Tax Refund Receivable

11.1

9.2

9.7

11.7

13.0

    Other Current Financial Assets

-

-

-

-

739.7

    Trade Receivable

1,469.1

1,398.3

1,416.8

1,496.0

1,448.1

    Allowance for Doubtful Accounts for Trad

-4.0

-4.5

-4.5

-4.7

-5.4

    Account Receivables

103.5

60.7

68.3

101.3

80.8

    Adjustment for Trade & Other Receivables

0.0

0.0

0.0

0.0

0.0

    Capital Lease Bonds

0.1

0.1

-

-

-

    Loans

-

0.7

-

-

-

    Merchandises

23.2

12.6

22.7

14.1

15.4

    Finished Goods

426.2

381.9

459.4

470.8

393.8

    Works in Process

101.2

27.7

30.3

148.6

33.0

    Semi-finished Goods

72.0

113.7

143.5

60.3

157.1

    Raw Materials

387.4

226.2

297.7

407.7

415.0

    Supplemental Raw Materials

12.8

28.9

28.9

6.4

29.9

    Supplies

166.8

161.6

156.8

154.3

164.7

    Goods in Transit

88.0

147.0

135.5

60.1

51.9

    Adjustment for Inventories

0.0

0.0

-

0.0

0.0

    Advance Payments

64.2

67.0

60.8

50.2

38.0

    Prepaid Expenses Total

19.1

13.7

18.1

15.4

19.8

    Prepaid VAT

34.7

20.2

24.3

23.9

20.2

    Adjustment for Other Current Assets

0.0

0.0

0.0

0.0

0.0

    Accrued Income

-

5.9

4.1

5.4

-

    Short-term Loans

-

-

12.5

10.0

-

    Guarantee Deposit, Current

-

1.8

1.8

2.1

-

    Allowance for Other Financial Assets

-

-

-

0.0

-

    Other Current Assets

-

-

-

0.0

-

Total Current Assets

4,354.4

4,243.6

4,329.2

4,484.6

4,177.4

 

 

 

 

 

 

    Long-term Financial Instruments

22.2

22.0

21.5

23.7

-

    Financial Assets at Fair Value Through P

-

-

-

7.0

-

    Non-Current Securities Available-for-Sal

91.7

89.2

86.4

95.3

-

    Adjustment for Non-Current Financial Ins

-

0.0

-

-

-

    Loans

-

4.0

0.5

4.4

-

    Receivable-Capital Lease

3.2

3.2

3.2

1.7

-

    Investment in Affiliates

679.1

669.4

683.1

615.4

605.7

    Investments in Jointly Controlled Entiti

265.8

272.6

262.4

237.0

216.9

    Investment in Properties

40.5

40.1

35.1

37.4

36.5

    Goodwill

16.9

16.7

27.5

30.3

29.5

    Other Non-Current Financial Instruments

8.9

-

-

-

100.3

    Derivative Assets for Risk Hedge, Non-Cu

-

4.1

-

-

-

    Long-term Prepaid Expenses

81.0

82.2

82.7

87.1

8.8

    Non-Current Deferred Income Taxes Assets

124.6

121.8

125.0

130.8

-

    Lands

393.7

388.9

382.2

422.8

460.1

    Buildings

349.9

346.5

345.8

376.7

366.8

    Buildings-Depreciation

-109.3

-103.6

-106.9

-111.8

-110.3

    Buildings-Reduction

-

-2.2

-

-

-

    Structures

775.1

476.9

467.5

507.5

497.6

    Structures-Depreciation

-427.5

-271.3

-262.7

-283.8

-275.2

    Machinery

6,350.8

6,666.0

6,433.9

6,930.2

6,860.7

    Machineries & Equipments-Depreciation

-4,539.8

-4,620.6

-4,491.1

-4,842.4

-4,743.6

    Machineries & Equipments-Government Subs

-0.5

-0.5

-0.7

-0.6

-0.7

    Machineries & Equipments-Reduction

-

-14.0

-

-

-

    Vehicles & Transportation Equipment

10.7

10.8

10.7

11.3

11.7

    Accumulated Depreciation for Vehicles

-9.2

-9.1

-8.9

-9.5

-9.6

    Tools & Equipments

117.1

40.9

38.7

51.1

39.8

    Tools & Equipments-Depreciation

-76.7

-33.1

-31.8

-43.8

-32.7

    Fixtures

51.5

51.0

47.9

42.2

49.7

    Fixtures-Depreciation

-43.1

-42.6

-41.3

-34.3

-42.4

    Other Property Plant & Equipment

165.9

152.5

85.5

93.0

189.8

    Other Tangibles-Depreciation

-55.4

-53.9

-44.6

-42.3

-143.8

    Construction in Progress

896.7

756.5

687.3

558.6

428.4

    Capital Lease Assets

4.4

4.4

0.4

4.8

4.7

    Capital Lease Assets-Depreciation

-4.1

-4.1

-

-4.3

-4.1

    Adjustment for Property, Plant & Equipme

0.0

-

0.0

0.0

-

    Industrial Property Rights

0.9

0.9

0.9

1.1

0.6

    Facilities Usage Rights

-

-

-

-

0.0

    Membership Rights

8.9

5.7

5.5

6.1

6.0

    Other Intangible Assets

10.7

11.0

10.7

11.1

40.9

    Adjustment for Intangible Assets

0.0

0.0

0.0

0.0

0.0

    Deposits Provided

-

3.0

3.4

3.4

-

    Specified Derivatives

-

-

4.4

-

-

    Adjustment for Other Financial Assets

-

-

0.0

0.0

-

Total Assets

9,559.0

9,328.7

9,193.4

9,402.0

8,769.4

 

 

 

 

 

 

    Current Borrowings

253.2

154.7

221.3

291.4

165.4

    Current Portion of Long-term Debt

19.2

19.5

18.9

26.7

25.4

    Bonds, Current Liabilities

-

86.8

178.2

396.6

385.4

    Capital Leased Liabilities, Current

2.2

2.2

2.1

2.0

1.9

    Adjustment for Current Portion of LT Deb

0.0

-

0.0

0.0

0.0

    Other Current Financial Liabilities

-

-

-

-

62.2

    Reserve for Current Liabilities

2.8

2.7

3.1

2.6

-

    Current Tax Liabilities

113.0

183.8

149.3

185.6

133.3

    Current Trade Payables

1,622.4

1,544.4

1,512.3

1,691.1

1,529.1

    Other Payables

258.6

219.5

186.2

192.1

387.7

    Adjustment for Current Trade & Other Pay

0.0

-

0.0

0.0

0.0

    VAT Withheld

-

8.0

16.4

16.9

19.1

    Advance for Customers

-

14.5

11.0

8.6

16.6

    Unearned Income

-

6.2

3.8

3.5

3.8

    Adjustment for Other Current Non-financi

-

0.0

0.0

0.0

0.0

    Accrued Expenses

33.6

89.8

56.6

43.6

-

    Withholdings

-

28.2

11.2

9.6

-

    Security Deposit Withheld, Current

0.1

0.1

0.1

0.1

-

    Adjustment for Other Current Financial L

0.0

0.0

0.0

0.0

-

    Dividend Payable

-

-

-

0.0

-

    Other Current Liabilities

151.0

7.6

5.3

5.3

-

    Financial Liabilities at Fair Value Thro

-

0.5

-

-

-

Total Current Liabilities

2,456.0

2,368.5

2,375.7

2,875.8

2,729.9

 

 

 

 

 

 

    Non-Current Borrowings

138.6

147.8

148.7

104.6

118.9

    Bonds

1,210.9

1,201.4

1,183.8

804.2

792.3

    Capital Leased Liabilities, Non-current

-

0.4

1.0

1.6

2.1

    Adjustment for LT Borrowings

-

0.0

0.0

0.0

0.0

Total Long Term Debt

1,349.4

1,349.6

1,333.6

910.4

913.4

 

 

 

 

 

 

    Financial Liabilities at Fair Value Thro

-

-

-

12.4

-

    Provisions for Retirement and Severance

27.0

19.9

28.1

29.6

17.8

    Deferred Income Taxes, Non-Current Liabi

176.3

181.2

155.4

176.1

54.1

    Other Non-current Financial Liabilities

-

-

-

-

68.6

    Non-Current Employees Benefits Liabiliti

4.8

4.0

3.7

3.7

4.8

    LT Provisions

0.4

0.6

0.6

0.6

3.1

    Security Deposit, LT

11.2

11.1

10.8

11.4

-

    LT Account Payable

45.1

46.9

47.6

52.7

-

    Adjustment for Other Non-current Liabili

-

-

-

0.0

-

    Other LT Liabilities

-

-

-

1.3

-

    Non-Current Specified Derivatives Liabil

0.9

1.5

1.7

-

-

    Adjustment for Other Non-current Financi

0.0

0.0

0.0

0.0

-

    Minority Interests

612.4

603.5

599.6

618.0

564.5

Total Liabilities

4,683.6

4,586.8

4,556.8

4,692.2

4,356.2

 

 

 

 

 

 

    Capital Stock

140.0

138.3

135.2

149.2

145.2

    Retained Earnings or Accumulated Deficit

4,651.1

4,503.7

4,362.4

4,537.0

4,179.9

    Additional Paid-in Capital

-

19.9

19.5

21.5

20.9

    Other Capital Surplus

-

-6.5

-6.6

-7.3

-5.5

    Adjustment for Other Paid-in Capital

-

0.0

-

-

0.0

    Other Paid-in Capital

13.5

-

-

-

-

    Valuation of Available for Sale Securiti

-

-

-

-

1.6

    Valuation of Equity Method

-

-

-

-

81.7

    Gain/Losses on Valuation of Securities A

3.3

3.2

-

-

-

    Overseas Business Translation Debit/Cred

19.2

41.3

83.7

-55.5

-10.6

    Adjustment for Other Capital

-

-

0.0

0.0

0.0

    Gain/Losses on Valuation of Derivatives

-3.4

-5.9

-

-

-

    Gain-Valuation of Available-for-Sale Fin

-

-

2.6

2.9

-

    Loss-Valuation of Derivatives

-

-

-12.0

-

-

    Capital Change, Equity Method

51.7

47.8

51.8

62.1

-

    Adjustment for Other Capital Items

0.0

0.0

-

-

-

Total Equity

4,875.4

4,741.8

4,636.6

4,709.8

4,413.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

9,559.0

9,328.7

9,193.4

9,402.0

8,769.4

 

 

 

 

 

 

    S/O-Common Stock

31.9

31.9

31.9

31.9

31.9

Total Common Shares Outstanding

31.9

31.9

31.9

31.9

31.9

T/S-Common Stock

0.0

0.0

0.0

0.0

0.0

Deferred Revenue, Current

-

20.7

14.8

12.1

20.4

Accumulated Goodwill Amortization Suppl.

21.1

19.4

20.2

20.2

23.8

Full-Time Employees

1,749

1,657

4,055

1,632

1,622

Number of Common Shareholders

-

-

7,026

-

-

Long Term Debt Maturing within 1 Year

-

2,585.5

-

-

-

Long Term Debt Maturing in Year 5

-

1,485.9

-

-

-

Total Long Term Debt, Supplemental

-

4,071.4

-

-

-

Capital Lease Payments Due within 1 Year

2.2

2.2

-

-

1.9

Capital Lease Payments Due in Year 5

-

0.4

-

-

2.1

Total Capital Leases

2.2

2.6

-

-

4.1

 

 

 

 

Annual Cash Flows

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

1,022.3

778.4

697.6

-36.4

527.4

    Depreciation

339.1

262.8

242.4

294.4

395.8

    Amortization of Intangible Assets

2.6

3.3

2.0

2.1

7.3

    Expense of Allowance for Doubtful Accoun

0.4

0.1

2.4

1.5

2.8

    Expenses of Allowance for Other Doubtful

-

31.9

1.0

2.4

0.2

    Corporate Taxes Expense

355.5

251.1

-

-

-

    Payment for Retirement Allowance, ONCI

13.7

10.1

12.0

12.8

16.7

    Interest Expenses

71.3

46.1

-

-

-

    Accrued Interest Expense

-

-

0.9

0.1

0.2

    Rent Expense

2.1

0.1

-

-

-

    Losses on Foreign Currency Translation

73.5

36.5

6.6

141.3

17.5

    Impairment Loss on Goodwill

11.9

7.2

-

-

-

    Valuation Inventory

-

-

1.4

41.8

4.4

    Loss on Disposal of Trade Receivable

0.1

0.3

1.0

0.5

0.2

    Losses on Valuation of Inventories

3.0

-0.7

-

-

-

    Loss on Sec Disposal

-

-

0.4

-

0.1

    Loss on Disposal of Property, Plant and

4.9

1.6

0.2

14.6

1.9

    Loss on Disposal of Investment in Affili

-

0.8

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Loss under Equity Method

-

-

10.7

11.4

-

    Loss on Reduction of Securities under Eq

-

-

-

-

0.1

    Loss-Valuation of Derivatives

-

0.5

26.8

1.7

-

    Loss-Derivatives Transaction

4.5

0.0

-

-

-

    Repair Expense

-

0.0

-

0.8

0.7

    Miscellaneous Loss

1.4

0.0

-

39.0

-

    Non-Current Employ Benefits

-0.1

0.7

-

-

-

    Gains on Valuations of Derivatives Asset

-4.5

-24.8

-

-125.5

-2.6

    Gain-Disp. of Security Avail-for-Sale

-

-0.4

0.0

-0.1

-

    Gain Disp Tang. Ast

-1.0

-14.2

-0.1

-11.8

-7.4

    Gain-Disp. of Securities/Equity Method

-

-

-8.1

-

-

    Gain on Valuation of Financial Assets at

-3.6

-0.2

-

-

-

    Loss-Reduction of Tangible Assets

-

-

0.0

-

-

    Gain on Purchase at Bargain Price

-8.0

-

-

-

-

    Recovery of Allowance for Doubtful Accou

-0.7

-0.1

0.0

-2.4

0.0

    Recovery-Negative Goodwill

-

-

-20.1

-8.3

-4.1

    Gain on Valuation of Inventories

-

-

-

-

-0.4

    Gains on Foreign Currency Translation

-10.9

-14.1

-31.4

-33.2

-10.2

    Interest Received

-43.3

-44.2

-0.1

-0.2

-0.2

    Dividend Income

-0.3

-1.3

-

-

-

    Equity Earnings

-49.7

-5.1

-26.6

-63.3

-106.5

    G-Inv.Asset Disp

-

-

-

-

-0.4

    Miscellaneous Gains

-0.1

-0.5

-

0.0

0.0

    Total Inventory

-146.0

-173.4

79.3

-19.1

-147.5

    Derivatives in Assets

57.3

21.8

29.0

1.1

-

    Trade Receivables

-384.8

-131.8

-276.8

114.8

-85.5

    Accrued Income

-

-

-0.6

-0.7

-0.6

    Other Receivables

-4.1

3.2

-35.4

20.6

-30.8

    Income Tax Refund Receivable

-

-

4.4

-5.7

2.8

    LT Prepaid Expense

-

-

-0.2

-

-

    Prepaid Expenses

-

-

4.7

-1.4

2.7

    Advanced Payment

-

-

-16.3

-3.8

0.9

    Prepaid VAT

-

-

5.0

-4.5

0.5

    Deferred Taxes-Asset

-

-

33.6

22.0

-27.1

    Deferred Taxes-Asset,Current

-

-

6.2

-6.6

-3.8

    Deferred Taxes-Credit,Current

-

-

-45.3

51.5

0.2

    Derivatives in Liabilities

-

-

-1.5

-

-

    Financial Assets at Fair Value Through P

-

-1.0

-

-

-

    Guarantee Deposit

-

-

0.0

-

-

    Other Financial Assets

-1.2

5.8

-

-

-

    Other Assets

-25.7

-30.3

-

-

-

    Trade Payables

476.3

-35.5

390.7

-249.3

11.7

    LT Account Payables

-

-

7.9

7.5

-1.3

    Other Payables

31.8

38.6

22.9

-149.6

193.2

    Accrued Expenses

-

-

-0.1

5.4

0.1

    Accrued Income Taxes

-

-

22.9

-43.7

-7.2

    VAT Taxes Withheld

-

-

-0.2

0.3

-

    Advances Received

-

-

-0.8

4.8

0.7

    Deposits Withheld

-

-

4.2

-0.1

2.2

    Security Deposits Withheld

-

-

1.5

0.0

0.1

    Deferred Taxes-Liability

-

-

17.4

-103.7

67.9

    Dividend Income, A/L

-

-

0.0

0.2

-

    National Pension

-

-

0.0

0.1

2.6

    Government Subsidy, A/L

-

-

-

0.3

-

    Retirement and Severance Benefits Liabil

-19.4

-16.5

-

-

-

    Payment-Retirement Bonus

-

-

-6.5

-12.7

-14.5

    Retirement Insurance Deposits

-

-

-4.3

2.3

-0.5

    Reserve for Severance & Retirement

-

-

-

0.9

0.4

    Other Financial Liabilities

5.7

-10.2

-

-

-

    Other Liabilities

7.3

19.8

-

-

-

    Gain-Assets Contributed

-

-

-13.1

-

-

    Cash-Tax Paid

-320.6

-104.9

-

-

-

Cash from Operating Activities

1,460.7

911.4

1,147.4

-85.9

810.8

 

 

 

 

 

 

    Disposal of Current Financial Instrument

3,844.3

2,338.0

677.8

758.0

1,180.2

    Disposal of Non-Current Financial Instru

-

0.1

-

-

0.0

    Decrease in LT Loans

-

-

0.4

1.0

0.6

    Dec-Guarantee Dep

-

-

0.3

2.3

0.7

    Cash Interest Received

41.4

46.2

-

-

-

    Disposal of Securities Available-for-Sal

0.3

2.2

0.3

1.2

0.9

    Disposal of Other Financial Instruments

18.1

10.9

-

-

-

    Disposal of Other Assets

17.4

-

-

-

-

    Dividend Received

15.8

1.3

-

-

-

    Dec-Investment Secs

-

-

-

-

0.4

    Disposal of Land

-

-

-

4.1

0.4

    Disposal-Buildings

-

-

-

0.7

-

    Disposal of Building

-

-

-

0.7

0.0

    Disposal Mach./Equip

-

-

0.1

5.1

4.4

    Disp-Tools & Equip.

-

-

0.0

0.0

0.0

    Disposal Trans Equip

-

-

0.0

0.0

0.1

    Disposal of Supplies

-

-

0.3

0.0

0.0

    Disposal of Other Tangible Assets

-

-

-

-

5.5

    Disposal of Property, Plant and Equipmen

17.9

28.5

-

-

-

    Disposal of Intangible Assets

-

0.0

-

-

-

    Disposal of Affiliates

-

3.7

-

-

-

    Purchase of Current Financial Instrument

-3,764.2

-2,187.0

-1,128.8

-578.3

-1,227.9

    Purchase of Non-Current Financial Instru

-22.6

-0.2

-

-

-

    Purchase of Financial Assets at Fair Val

-0.1

-

-

-

-

    Purchase of Other Financial Instruments

-2.8

-2.5

-

-

-

    Increase-ST Loans

-

-

-3.9

-

-

    Inc-Affiliates Stock

-

-

-59.2

-9.1

-52.7

    Increase in LT Loans

-

-

-

-5.0

-12.6

    Inc in Guarant Depos

-

-

-1.8

-2.2

-1.5

    Purchase of Securities Available-for-Sal

-0.6

-5.2

-35.2

-51.8

-5.3

    Acquis in Invest Properties

-0.4

-0.6

-

-

-

    Increase-Other Investment Assets

-

-

0.0

-

-

    Increase-Buildings

-

-

-0.2

-0.1

-

    Purch. of Mach/Equip

-

-

-5.0

0.0

-0.7

    Acq. of Trans Equip

-

-

-0.2

0.0

0.0

    Increase--Furniture & Fixtures

-

-

-0.1

-0.2

-0.3

    Acq. Const. In Prog

-

-

-145.9

-618.0

-821.8

    Increase-Other Tangible Assets

-

-

-0.5

-1.8

-25.5

    Purchase of Property, Plant and Equipmen

-842.1

-359.2

-

-

-

    Purchase of Intangible Assets

-3.3

-1.0

-

-

-

    Aq-Industrial Right

-

-

-

-

0.0

    Acq Intangible Asset

-

-

0.0

0.0

-0.1

    Acq-Dock Use Right

-

-

-

-

-0.1

    Disposal-Securities under Equity Method

-

-

0.9

-

-

    Cash Flows from Merger

-

-1,297.7

-

-

-

    Acquisition of Affiliates

-135.3

-1.2

-

-

-

    Acquisition of Jointly Controlled Entiti

-50.7

-4.4

-

-

-

Cash from Investing Activities

-866.8

-1,428.2

-700.6

-493.4

-955.1

 

 

 

 

 

 

    Increase in Current Borrowings

496.6

92.7

164.7

1,570.1

53.8

    Inc in LT Borrowings

-

-

1.0

40.9

51.9

    Increase-Bond

450.1

596.1

195.0

303.4

-

    Increase in Funds for Capital Participat

5.1

-

-

-

-

    Increase in Capital Lease Liabilities

-

3.9

-

-

-

    Decrease in Current Borrowings

-429.5

-99.5

-511.1

-1,193.5

-3.6

    Decrease-LT Borrowings

-

-

-

-22.7

-

    Decrease-Current Portion of Bond

-

-

-23.5

-

-161.4

    Decrease in Current Portion of Long-Term

-323.2

-118.1

-0.1

-

-

    Decrease in Convertible Bonds

-

-2.9

-

-

-

    Decrease in Capital Lease Liabilities

-20.8

-5.1

-

-

-

    Increase in Government Subsidy

-

3.9

-

-

-

    Dividend Paid

-59.0

-49.6

-6.2

-28.9

-25.7

    Increase in Investment in Subsidiaries

-2.4

-1.0

-

-

-

    Expense for Stock Issuance

-

-

-

-

0.0

    Change-Foreign Currency Translation

-

-

-9.3

1.3

0.1

    Consolidation Scope Change

-

-

-11.8

3.2

-

    Cash-Interest Paid

-72.4

-40.7

-

-

-

    Foreign Currency Translation Effect

12.3

-3.3

-

-

-

Cash from Financing Activities

56.7

376.6

-201.4

673.8

-85.0

 

 

 

 

 

 

Net Change in Cash

650.7

-140.2

245.4

94.5

-229.3

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

478.7

598.9

296.3

249.1

524.3

Cash and Cash Equivalents at End

1,129.4

458.7

541.7

343.6

295.1

    Cash Interest Paid

72.4

40.7

-

-

-

    Cash Taxes Paid

320.6

104.9

-

-

-

 

 

 

 

Interim Cash Flows

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Reclassified Normal
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income

160.7

1,022.3

991.9

693.8

388.9

    Depreciation

87.3

339.1

252.0

169.1

85.3

    Corporate Taxes Expense

38.3

355.5

297.6

215.3

128.6

    Interest Income

-12.5

-43.3

-30.1

-20.0

-9.7

    Interest Expenses/Income

13.7

71.3

54.3

37.6

19.5

    Dividend Income

-1.5

-0.3

-0.3

0.0

0.0

    Gain-Purchase at Bargain Price

-

-8.0

-8.1

-

-7.9

    Gains on Valuations of Derivatives

-

-4.5

-13.0

-

-0.1

    Gain-Valuation of Financial Assets at Fa

-1.8

-3.6

-2.7

-

-1.2

    Recovery of Losses on Valuation of Inven

-

-

-14.0

-

-

    Loss-Valuation of Financial Assets at Fa

0.9

4.5

2.8

12.7

0.0

    Losses on Foreign Currency Translation

42.8

73.5

90.4

-21.3

16.9

    Gains on Foreign Currency Translation

-42.0

-10.9

-65.8

-

-33.2

    Gain/Loss on Sale of Property, Plant and

0.3

4.9

4.1

0.3

0.6

    Gains on Sale of Property, Plant and Equ

-0.3

-1.0

-0.7

-

0.0

    Losses on Sale of Intangible Assets

-

0.0

0.0

0.0

-

    Loss on Valuation of Derivative Financia

4.8

-

-

-

19.2

    Losses on Valuation of Inventories

7.9

3.0

-

24.8

-0.8

    Recovery-Doubtful Credit Reserve

-0.5

-0.7

-0.6

-0.6

-

    Impairment Loss on Goodwill

-

11.9

-

-

-

    Losses on Sale of Trade Receivable

-

0.1

0.0

-

-

    Repair Expenses

-

-

0.1

0.1

-

    Expenses of Allowance for Doubtful Accou

0.0

0.4

0.3

0.3

0.4

    Gain under Equity Method

-4.7

-49.7

-72.1

-53.5

-7.7

    Amortization of Intangible Assets

0.6

2.6

1.9

2.7

0.6

    Recovery-Negative Goodwill Amortization

-

-

-

-8.0

-

    LT Employ Benefits

0.3

-0.1

-0.5

-

-0.1

    Payment for Retirement Allowance, ONCI

4.7

13.7

10.4

7.2

3.4

    Salaries

-

-

-

0.2

-

    Rent Expense

0.5

2.1

1.8

0.2

0.5

    Miscellaneous Gain

-0.1

-0.1

-

-0.5

-

    Miscellaneous Loss

0.0

1.4

1.4

0.0

-

    Trade & Other Receviables

-53.7

-

-

-

-340.7

    Trade Receivables

-

-384.8

-332.5

-332.9

-

    Other Receivables

-

-4.1

-14.7

-38.7

-

    Inventory

-165.6

-146.0

-327.3

-314.9

-244.9

    Capital Lease Receivables

-

-

-

0.0

-

    Financial Assets at Fair Value Through P

-

-

-0.4

3.4

-

    Derivatives Assets

-

57.3

58.3

-

-

    Other Financia Assets

0.0

-1.2

0.0

0.1

-

    Other Assets

-11.0

-25.7

-34.2

-15.3

-2.2

    Trade and Other Payables

70.0

-

-

-

504.7

    Trade Payables

-

476.3

412.4

527.9

-

    Other Payables

-

31.8

-41.6

-47.1

-

    Financial Liabilities at Fair Value Thro

-

-

-

-0.4

-

    Other Financial Liabilities

-77.4

5.7

-6.2

-41.3

-2.3

    Other Liabilities

35.6

7.3

1.2

3.8

11.9

    Retirement and Severance Benefits Liabil

-0.7

-19.4

-3.1

-1.9

-0.7

    Provision

0.0

-

0.8

0.0

-3.9

    Cash-Tax Paid

-118.4

-320.6

-322.2

-215.9

-179.0

Cash from Operating Activities

-21.5

1,460.7

891.7

586.8

345.8

 

 

 

 

 

 

    Disposal of Current Financial Instrument

-

3,844.3

3,031.9

1,694.7

-

    Decrease-Financial Assets at Fair Value

-

-

-

0.3

-

    Proceeds from Sale of Available for sale

-

0.3

0.2

0.1

-

    Decrease-Other Financial Assets

219.3

18.1

8.4

7.3

305.8

    Decrease-Other Non-financial Assets

0.2

-

-

-

0.2

    Decrease-Other Assets

-

17.4

8.5

16.5

-

    Proceeds from Sale of Property Plant and

0.3

17.9

18.0

17.5

0.7

    Cash Interest Received

11.6

41.4

30.4

19.3

4.7

    Dividend Income, IP

0.7

15.8

16.3

15.6

-

    Purchase of Current Financial Instrument

-

-3,764.2

-2,918.2

-1,561.5

-

    Purchase of Long-term Financial Instrume

-

-22.6

-22.8

-22.7

-

    Purchase of Available for sale Securitie

-

-0.6

0.0

-0.4

-

    Purchase of Financial Assets at Fair Val

-

-0.1

-0.1

-

-

    Purchase of Investment Properties

0.0

-0.4

-

-

-

    Purchase of Investment in Affiliates

-

-

-136.3

-

-

    Purchase of Investment in Jointly Contro

-

-

-51.3

-

-

    Increase-Other Financial Assets

-44.7

-2.8

-1.4

-0.8

-392.4

    Increase-Other Non-financial Assets

-1.4

-

-

-

-0.2

    Increase-Other Assets

-

-

-0.8

-6.3

-

    Purchase of Property, Plant and Equipmen

-171.0

-842.1

-569.5

-343.9

-176.3

    Purchase of Intangible Assets

-3.4

-3.3

-2.6

-2.6

-1.3

    Acquisition of Subsidiaries

-

-

-

-2.4

-

    Acquisition of Affiliates

-0.6

-135.3

-

-4.7

-

    Acquisition of Jointly Controlled Entiti

-2.0

-50.7

-

-8.6

-5.5

Cash from Investing Activities

8.8

-866.8

-589.2

-182.4

-264.2

 

 

 

 

 

 

    Other Equity Investments Payment

2.9

-

-

3.0

-

    Proceeds from Issuance of Bonds

-

-

456.0

0.8

-

    Increase in Bonds

-

450.1

-

-

-

    Increase in Capital Lease Liabilities

-

-

0.4

0.9

-

    Increase in Funds for Capital Participat

-

5.1

-

-

-

    Increase-Borrowings

92.6

-

-

381.3

117.0

    Decrease in Current Portion of Long-Term

-

-323.2

-226.3

-

-

    Redemption-Borrowings

-109.5

-

-

-

-97.3

    Increase in Current Borrowings

-

496.6

474.6

-

-

    Decrease in Current Borrowings

-

-429.5

-340.8

-253.2

-

    Dividend Paid

-

-59.0

-59.7

-59.3

-

    Decrease in Capital Lease Liabilities

-0.5

-20.8

-1.7

-1.7

-

    Cash-Interest Paid

-13.0

-72.4

-52.7

-34.2

-18.0

    Increase in Investment in Subsidiaries

-

-2.4

-

-

-

    Change-Foreign Currency Translation

-

-

-

-10.5

-

    Foreign Currency Translation Effect

-

12.3

-

-

-

Cash from Financing Activities

-27.5

56.7

249.9

27.0

1.7

 

 

 

 

 

 

Foreign Exchange Effects

-7.7

-

36.7

-1.2

-5.9

Net Change in Cash

-47.9

650.7

589.0

430.2

77.4

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

1,106.3

478.7

484.1

481.3

473.4

Cash and Cash Equivalents at End

1,058.4

1,129.4

1,073.1

911.5

550.8

    Cash Interest Paid

13.0

72.4

52.7

34.2

18.0

    Cash Taxes Paid

118.4

320.6

322.2

215.9

179.0

 

 

 

 

Geographic Segments

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

South Korea

9,089.2

61.8 %

7,254.6

76 %

2,944.5

46.1 %

3,680.8

53.5 %

3,728.8

56.3 %

China

1,415.2

9.6 %

757.5

7.9 %

1,988.9

31.1 %

1,174.3

17.1 %

1,043.4

15.7 %

Malaysia

935.6

6.4 %

1.1

0 %

-

-

-

-

-

-

Indonesia

674.9

4.6 %

-

-

-

-

-

-

-

-

Pakistan

668.5

4.5 %

499.1

5.2 %

-

-

-

-

-

-

United Kingdom

612.4

4.2 %

376.0

3.9 %

-

-

-

-

-

-

Other Foreign

1,305.3

8.9 %

654.3

6.9 %

1,453.0

22.8 %

2,018.7

29.4 %

1,854.4

28 %

Segment Total

14,701.2

100 %

9,542.6

100 %

6,386.4

100 %

6,873.8

100 %

6,626.6

100 %

Intercompany Eliminations

-530.1

-3.6 %

-345.2

-3.6 %

-

-

-

-

-

-

Earning Before Acquisition of Subsidiary

-

-

1,876.1

19.7 %

347.9

5.4 %

-

-

-

-

Consolidated Total

14,171.1

96.4 %

9,197.4

96.4 %

6,734.3

105.4 %

6,873.8

100 %

6,626.6

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

Total Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

South Korea

9,089.2

61.8 %

7,254.6

76 %

2,944.5

46.1 %

3,680.8

53.5 %

3,728.8

56.3 %

China

1,415.2

9.6 %

757.5

7.9 %

1,988.9

31.1 %

1,174.3

17.1 %

1,043.4

15.7 %

Malaysia

935.6

6.4 %

1.1

0 %

-

-

-

-

-

-

Indonesia

674.9

4.6 %

-

-

-

-

-

-

-

-

Pakistan

668.5

4.5 %

499.1

5.2 %

-

-

-

-

-

-

United Kingdom

612.4

4.2 %

376.0

3.9 %

-

-

-

-

-

-

Other Foreign

1,305.3

8.9 %

654.3

6.9 %

1,453.0

22.8 %

2,018.7

29.4 %

1,854.4

28 %

Segment Total

14,701.2

100 %

9,542.6

100 %

6,386.4

100 %

6,873.8

100 %

6,626.6

100 %

Intercompany Eliminations

-530.1

-3.6 %

-345.2

-3.6 %

-

-

-

-

-

-

Earning Before Acquisition of Subsidiary

-

-

1,876.1

19.7 %

347.9

5.4 %

-

-

-

-

Consolidated Total

14,171.1

96.4 %

9,197.4

96.4 %

6,734.3

105.4 %

6,873.8

100 %

6,626.6

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

 

Long Lived Assets   USD (mil)

 

31-Dec-11

31-Dec-10

South Korea

2,780.8

72.5 %

2,300.6

66.8 %

China

28.7

0.7 %

-

-

Malaysia

991.1

25.8 %

901.8

26.2 %

United States

4.9

0.1 %

-

-

Indonesia

31.4

0.8 %

138.0

4 %

Pakistan

-

-

87.0

2.5 %

United Kingdom

-

-

16.5

0.5 %

Segment Total

3,836.9

100 %

3,443.9

100 %

Intercompany Eliminations

37.0

1 %

12.5

0.4 %

Consolidated Total

3,873.9

101 %

3,456.4

100.4 %

Exchange Rate: KRW to USD

1,152.000000

 

1,134.900000

 

 

 

 

Geographic Segments

Financials in: As Reported (mil)

 

Interim

 

 

External Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

South Korea

2,530.3

71.9 %

2,143.2

63.4 %

2,537.8

64.8 %

1,805.7

47.8 %

2,598.0

71.4 %

China

147.9

4.2 %

372.0

11 %

411.7

10.5 %

484.5

12.8 %

152.7

4.2 %

Malaysia

234.7

6.7 %

210.0

6.2 %

240.8

6.2 %

248.9

6.6 %

237.1

6.5 %

United States

0.0

0 %

-

-

-

-

-

-

-

-

Indonesia

177.3

5 %

186.5

5.5 %

148.0

3.8 %

151.7

4 %

187.1

5.1 %

Pakistan

143.1

4.1 %

146.1

4.3 %

163.1

4.2 %

179.6

4.8 %

180.3

5 %

United Kingdom

174.6

5 %

118.1

3.5 %

227.9

5.8 %

92.6

2.4 %

175.1

4.8 %

Other Foreign

113.6

3.2 %

205.9

6.1 %

185.7

4.7 %

816.7

21.6 %

110.9

3 %

Segment Total

3,521.7

100 %

3,381.8

100 %

3,915.1

100 %

3,779.7

100 %

3,641.1

100 %

Intercompany Eliminations

-117.4

-3.3 %

-131.4

-3.9 %

-140.3

-3.6 %

-134.3

-3.6 %

-124.4

-3.4 %

Consolidated Total

3,404.3

96.7 %

3,250.4

96.1 %

3,774.7

96.4 %

3,645.5

96.4 %

3,516.7

96.6 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

South Korea

2,530.3

71.9 %

2,143.2

63.4 %

2,537.8

64.8 %

1,805.7

47.8 %

2,598.0

71.4 %

China

147.9

4.2 %

372.0

11 %

411.7

10.5 %

484.5

12.8 %

152.7

4.2 %

Malaysia

234.7

6.7 %

210.0

6.2 %

240.8

6.2 %

248.9

6.6 %

237.1

6.5 %

United States

0.0

0 %

-

-

-

-

-

-

-

-

Indonesia

177.3

5 %

186.5

5.5 %

148.0

3.8 %

151.7

4 %

187.1

5.1 %

Pakistan

143.1

4.1 %

146.1

4.3 %

163.1

4.2 %

179.6

4.8 %

180.3

5 %

United Kingdom

174.6

5 %

118.1

3.5 %

227.9

5.8 %

92.6

2.4 %

175.1

4.8 %

Other Foreign

113.6

3.2 %

205.9

6.1 %

185.7

4.7 %

816.7

21.6 %

110.9

3 %

Segment Total

3,521.7

100 %

3,381.8

100 %

3,915.1

100 %

3,779.7

100 %

3,641.1

100 %

Intercompany Eliminations

-117.4

-3.3 %

-131.4

-3.9 %

-140.3

-3.6 %

-134.3

-3.6 %

-124.4

-3.4 %

Consolidated Total

3,404.3

96.7 %

3,250.4

96.1 %

3,774.7

96.4 %

3,645.5

96.4 %

3,516.7

96.6 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

 

Long Lived Assets   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

South Korea

2,774.5

70 %

2,780.8

72.5 %

2,414.9

66.8 %

2,597.2

69 %

China

48.7

1.2 %

28.7

0.7 %

31.2

0.9 %

25.6

0.7 %

Malaysia

882.0

22.3 %

991.1

25.8 %

895.2

24.7 %

901.9

24 %

United States

8.7

0.2 %

4.9

0.1 %

4.1

0.1 %

4.0

0.1 %

Indonesia

122.5

3.1 %

31.4

0.8 %

134.6

3.7 %

122.7

3.3 %

Pakistan

93.8

2.4 %

-

-

112.1

3.1 %

91.8

2.4 %

United Kingdom

32.0

0.8 %

-

-

25.4

0.7 %

18.2

0.5 %

Segment Total

3,962.1

100 %

3,836.9

100 %

3,617.6

100 %

3,761.4

100 %

Intercompany Eliminations

47.0

1.2 %

37.0

1 %

56.8

1.6 %

37.5

1 %

Consolidated Total

4,009.1

101.2 %

3,873.9

101 %

3,674.4

101.6 %

3,798.8

101 %

Exchange Rate: KRW to USD

1,138.093549

 

1,152.000000

 

1,178.050000

 

1,067.650000

 

 

 

 

Business Segments

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

2,788.6

19.7 %

2,471.4

26.9 %

Polymers

5,932.2

41.9 %

3,641.5

39.6 %

Basic Fraction

4,928.2

34.8 %

3,067.8

33.4 %

Other

1,052.3

7.4 %

361.8

3.9 %

Consolidate Adjustment

-530.1

-3.7 %

-345.2

-3.8 %

Segment Total

14,171.1

100 %

9,197.4

100 %

Consolidated Total

14,171.1

100 %

9,197.4

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

Total Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

2,788.6

19.7 %

2,471.4

26.9 %

Polymers

5,932.2

41.9 %

3,641.5

39.6 %

Basic Fraction

4,928.2

34.8 %

3,067.8

33.4 %

Other

1,052.3

7.4 %

361.8

3.9 %

Consolidate Adjustment

-530.1

-3.7 %

-345.2

-3.8 %

Segment Total

14,171.1

100 %

9,197.4

100 %

Consolidated Total

14,171.1

100 %

9,197.4

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

 

Operating Income/Loss   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

351.2

26.1 %

324.4

31.9 %

Polymers

372.4

27.7 %

381.3

37.4 %

Basic Fraction

566.1

42.1 %

294.8

28.9 %

Other

88.8

6.6 %

19.7

1.9 %

Consolidate Adjustment

-32.7

-2.4 %

-1.8

-0.2 %

Segment Total

1,345.9

100 %

1,018.4

100 %

Consolidated Total

1,345.9

100 %

1,018.4

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

Operating Margin (%)  

 

31-Dec-11

31-Dec-10

Monomers

12.6

-

13.1

-

Polymers

6.3

-

10.5

-

Basic Fraction

11.5

-

9.6

-

Other

8.4

-

5.4

-

Consolidate Adjustment

6.2

-

0.5

-

Segment Total

9.5

-

11.1

-

Consolidated Total

9.5

-

11.1

-

 

Income Before Tax   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

331.6

24.1 %

239.8

23.3 %

Polymers

332.0

24.1 %

330.5

32.1 %

Basic Fraction

581.5

42.2 %

338.9

32.9 %

Other

84.9

6.2 %

87.8

8.5 %

Consolidate Adjustment

47.9

3.5 %

32.5

3.2 %

Segment Total

1,377.8

100 %

1,029.5

100 %

Consolidated Total

1,377.8

100 %

1,029.5

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

Pre-Tax Margin (%)  

 

31-Dec-11

31-Dec-10

Monomers

11.9

-

9.7

-

Polymers

5.6

-

9.1

-

Basic Fraction

11.8

-

11.0

-

Other

8.1

-

24.3

-

Consolidate Adjustment

-9.0

-

-9.4

-

Segment Total

9.7

-

11.2

-

Consolidated Total

9.7

-

11.2

-

 

Total Assets   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

1,026.1

11 %

738.2

9.5 %

Polymers

2,530.2

27.1 %

3,937.6

50.8 %

Basic Fraction

3,381.9

36.3 %

1,077.1

13.9 %

Other

4,191.2

44.9 %

3,842.9

49.6 %

Consolidate Adjustment

-1,800.8

-19.3 %

-1,848.3

-23.9 %

Segment Total

9,328.7

100 %

7,747.4

100 %

Consolidated Total

9,328.7

100 %

7,747.4

100 %

Exchange Rate: KRW to USD

1,152.000000

 

1,134.900000

 

Operating Return on Assets (%)  

 

31-Dec-11

31-Dec-10

Monomers

32.9

-

44.8

-

Polymers

14.2

-

9.9

-

Basic Fraction

16.1

-

27.9

-

Other

2.0

-

0.5

-

Consolidate Adjustment

1.7

-

0.1

-

Segment Total

13.9

-

13.4

-

Consolidated Total

13.9

-

13.4

-

 

Total Liabilities   USD (mil)

 

31-Dec-11

31-Dec-10

Monomers

342.4

8.6 %

142.6

4.3 %

Polymers

880.5

22.1 %

1,218.0

37.1 %

Basic Fraction

1,680.3

42.2 %

525.7

16 %

Other

1,141.2

28.6 %

1,478.4

45 %

Consolidate Adjustment

-60.9

-1.5 %

-82.4

-2.5 %

Segment Total

3,983.4

100 %

3,282.3

100 %

Consolidated Total

3,983.4

100 %

3,282.3

100 %

Exchange Rate: KRW to USD

1,152.000000

 

1,134.900000

 

 

 

 

Business Segments

Financials in: As Reported (mil)

 

Interim

 

 

External Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

679.8

20 %

625.3

19.2 %

815.3

21.6 %

528.5

14.5 %

622.4

17.7 %

Polymers

1,304.3

38.3 %

1,349.8

41.5 %

1,536.0

40.7 %

581.4

15.9 %

1,471.3

41.8 %

Basic Fraction

1,296.2

38.1 %

1,051.6

32.4 %

1,359.9

36 %

2,276.6

62.5 %

1,243.3

35.4 %

Other

241.3

7.1 %

355.1

10.9 %

203.9

5.4 %

393.2

10.8 %

304.1

8.6 %

Consolidate Adjustment

-117.4

-3.4 %

-131.4

-4 %

-140.3

-3.7 %

-134.3

-3.7 %

-124.4

-3.5 %

Segment Total

3,404.3

100 %

3,250.4

100 %

3,774.7

100 %

3,645.5

100 %

3,516.7

100 %

Consolidated Total

3,404.3

100 %

3,250.4

100 %

3,774.7

100 %

3,645.5

100 %

3,516.7

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

679.8

20 %

625.3

19.2 %

815.3

21.6 %

528.5

14.5 %

622.4

17.7 %

Polymers

1,304.3

38.3 %

1,349.8

41.5 %

1,536.0

40.7 %

581.4

15.9 %

1,471.3

41.8 %

Basic Fraction

1,296.2

38.1 %

1,051.6

32.4 %

1,359.9

36 %

2,276.6

62.5 %

1,243.3

35.4 %

Other

241.3

7.1 %

355.1

10.9 %

203.9

5.4 %

393.2

10.8 %

304.1

8.6 %

Consolidate Adjustment

-117.4

-3.4 %

-131.4

-4 %

-140.3

-3.7 %

-134.3

-3.7 %

-124.4

-3.5 %

Segment Total

3,404.3

100 %

3,250.4

100 %

3,774.7

100 %

3,645.5

100 %

3,516.7

100 %

Consolidated Total

3,404.3

100 %

3,250.4

100 %

3,774.7

100 %

3,645.5

100 %

3,516.7

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

 

Operating Income/Loss   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

138.4

71.3 %

-87.1

-64.5 %

267.4

73.6 %

14.9

4.5 %

149.0

28.7 %

Polymers

5.9

3 %

65.6

48.6 %

61.8

17 %

-85.4

-25.7 %

166.8

32.1 %

Basic Fraction

70.2

36.1 %

157.9

117 %

36.3

10 %

363.1

109 %

184.0

35.4 %

Other

7.4

3.8 %

31.6

23.4 %

1.3

0.4 %

41.2

12.4 %

36.9

7.1 %

Consolidate Adjustment

-27.8

-14.3 %

-33.0

-24.5 %

-3.3

-0.9 %

-0.8

-0.2 %

-17.1

-3.3 %

Segment Total

194.2

100 %

135.0

100 %

363.5

100 %

333.0

100 %

519.6

100 %

Consolidated Total

194.2

100 %

135.0

100 %

363.5

100 %

333.0

100 %

519.6

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

Operating Margin (%)  

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

20.4

-

-13.9

-

32.8

-

2.8

-

23.9

-

Polymers

0.5

-

4.9

-

4.0

-

-14.7

-

11.3

-

Basic Fraction

5.4

-

15.0

-

2.7

-

15.9

-

14.8

-

Other

3.1

-

8.9

-

0.6

-

10.5

-

12.1

-

Consolidate Adjustment

23.7

-

25.1

-

2.4

-

0.6

-

13.7

-

Segment Total

5.7

-

4.2

-

9.6

-

9.1

-

14.8

-

Consolidated Total

5.7

-

4.2

-

9.6

-

9.1

-

14.8

-

 

Income Before Tax   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

136.0

68.3 %

-108.3

-109.1 %

260.7

68.7 %

12.1

3.2 %

145.2

28.1 %

Polymers

5.4

2.7 %

45.4

45.7 %

42.1

11.1 %

-96.6

-25.5 %

161.8

31.3 %

Basic Fraction

75.3

37.8 %

135.1

136.1 %

57.3

15.1 %

380.5

100.4 %

183.5

35.5 %

Other

10.2

5.1 %

27.3

27.5 %

4.1

1.1 %

38.5

10.2 %

37.1

7.2 %

Consolidate Adjustment

-27.8

-13.9 %

-0.3

-0.3 %

15.4

4 %

44.4

11.7 %

-10.2

-2 %

Segment Total

199.1

100 %

99.3

100 %

379.6

100 %

379.0

100 %

517.4

100 %

Consolidated Total

199.1

100 %

99.3

100 %

379.6

100 %

379.0

100 %

517.4

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

Pre-Tax Margin (%)  

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

20.0

-

-17.3

-

32.0

-

2.3

-

23.3

-

Polymers

0.4

-

3.4

-

2.7

-

-16.6

-

11.0

-

Basic Fraction

5.8

-

12.8

-

4.2

-

16.7

-

14.8

-

Other

4.2

-

7.7

-

2.0

-

9.8

-

12.2

-

Consolidate Adjustment

23.7

-

0.2

-

-11.0

-

-33.1

-

8.2

-

Segment Total

5.8

-

3.1

-

10.1

-

10.4

-

14.7

-

Consolidated Total

5.8

-

3.1

-

10.1

-

10.4

-

14.7

-

 

Total Assets   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

940.3

9.8 %

1,026.1

11 %

1,022.9

11.1 %

1,063.4

11.3 %

1,014.3

11.6 %

Polymers

2,329.0

24.4 %

2,530.2

27.1 %

4,162.2

45.3 %

2,846.9

30.3 %

4,589.5

52.3 %

Basic Fraction

3,962.5

41.5 %

3,381.9

36.3 %

1,972.2

21.5 %

3,385.1

36 %

1,248.5

14.2 %

Other

4,180.8

43.7 %

4,191.2

44.9 %

3,814.1

41.5 %

4,063.4

43.2 %

3,964.4

45.2 %

Consolidate Adjustment

-1,853.5

-19.4 %

-1,800.8

-19.3 %

-1,778.1

-19.3 %

-1,956.9

-20.8 %

-2,047.4

-23.3 %

Segment Total

9,559.0

100 %

9,328.7

100 %

9,193.4

100 %

9,402.0

100 %

8,769.4

100 %

Consolidated Total

9,559.0

100 %

9,328.7

100 %

9,193.4

100 %

9,402.0

100 %

8,769.4

100 %

Exchange Rate: KRW to USD

1,138.093549

 

1,152.000000

 

1,178.050000

 

1,067.650000

 

1,096.950000

 

Operating Return on Assets (%)  

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

14.6

-

-8.4

-

24.0

-

1.4

-

16.5

-

Polymers

0.3

-

2.6

-

1.4

-

-3.0

-

7.2

-

Basic Fraction

1.8

-

4.6

-

1.7

-

10.9

-

1.0

-

Other

0.2

-

0.7

-

0.0

-

1.0

-

0.4

-

Consolidate Adjustment

1.5

-

1.8

-

0.2

-

0.0

-

-0.3

-

Segment Total

2.0

-

1.4

-

3.6

-

3.6

-

6.1

-

Consolidated Total

2.0

-

1.4

-

3.6

-

3.6

-

6.1

-

 

Total Liabilities   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

Monomers

385.8

9.5 %

342.4

8.6 %

281.4

7.1 %

246.6

6.1 %

202.4

5.3 %

Polymers

795.2

19.5 %

880.5

22.1 %

1,324.8

33.5 %

788.4

19.4 %

1,560.9

41.2 %

Basic Fraction

1,937.5

47.6 %

1,680.3

42.2 %

1,035.1

26.2 %

1,870.5

45.9 %

823.6

21.7 %

Other

1,035.3

25.4 %

1,141.2

28.6 %

1,416.3

35.8 %

1,235.5

30.3 %

1,430.3

37.7 %

Consolidate Adjustment

-82.6

-2 %

-60.9

-1.5 %

-100.4

-2.5 %

-66.9

-1.6 %

-225.5

-5.9 %

Segment Total

4,071.2

100 %

3,983.4

100 %

3,957.2

100 %

4,074.1

100 %

3,791.7

100 %

Consolidated Total

4,071.2

100 %

3,983.4

100 %

3,957.2

100 %

4,074.1

100 %

3,791.7

100 %

Exchange Rate: KRW to USD

1,138.093549

 

1,152.000000

 

1,178.050000

 

1,067.650000

 

1,096.950000

 

 

 

Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.92

UK Pound

1

Rs.85.47

Euro

1

Rs.67.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.