MIRA INFORM REPORT

Report Date :

16.11.2012

IDENTIFICATION DETAILS

Name :	SK NETWORKS CO LTD
Formerly Known As :	SK Global
Registered Office :	104-28, Yeonghwa-Dong, Jangan-Gu, Suwon, 440816
Country :	South Korea
Financials (as on) :	31.12.2011
Date of Incorporation :	24.03.1956
Legal Form :	Public Subsidiary Company
Line of Business :	Subject is engaged in energy and car marketing, trading, telecommunication and others
No. of Employees :	3,982 employees

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
South Korea	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

South Korea - ECONOMIC OVERVIEW

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

Source : CIA

Company name & address

SK Networks Co Ltd

104-28, Yeonghwa-Dong, Jangan-Gu

Suwon, 440816

Korea, Republic of

Tel: 82-70-78003111

Fax: 82-2-22210097

Web: www.sknetworks.co.kr

Syntheiss

Employees: 3,982

Company Type: Public Subsidiary

Corporate Family: 116 Companies

Ultimate Parent: SK Holdings Co, Ltd.

Traded: Korea Stock Exchange: 001740

Incorporation Date: 24-Mar-1956

Auditor: KPMG LLP

Financials in: Usd (Millions)

Fiscal Year End: 31-Dec-2011

Reporting Currency: South Korean Won

Annual Sales: 24,854.0 1

Net Income: 131.6

Total Assets: 9,643.9 2

Market Value: 2,277.3 (14-Sep-2012)

Business Description

SK Networks Company Limited is a Korea-based company engaged in the mainly engaged in energy and car marketing, trading, telecommunication and others. The Company mainly operates in five business divisions: information communication technology division distributes mobile phones, personal digital assistants (PDAs), navigations and other mobile communication devices; energy and car division markets gasoline, light oil and liquefied natural gas (LNG) through gas stations, sales lubricating oil, asphalt and bunker fuels, distributes used cars, new cars, automobile parts and others; trading and investment division engages in the trading of steel, energy and chemical products; prestige marketing division manufactures and distributes clothes, as well as develops real estate, and hotel business operates tourist hotels, restaurants and others. For the six months ended 30 June 2012, SK Networks Co Ltd revenues increased 5% to W13.784T. Net income applicable to common stockholders decreased 53% to W39.35B. Revenues reflect IM segment increase of 10% to W3.374T, T&I segment increase of 8% to W3.806T, China segment increase of 27% to W2.792T, South Korea segment increase of 4% to W10.567T. Net income was offset by Selling and Administrative Expenses increase of 23% to W899.12B

Industry

Industry Oil and Gas Operations

ANZSIC 2006: 3321 - Petroleum Product Wholesaling

NACE 2002: 5151 - Wholesale of solid, liquid and gaseous fuels and related products

NAICS 2002: 42472 - Petroleum and Petroleum Products Wholesalers (except Bulk Stations & Terminals)

UK SIC 2003: 51511 - Wholesale of petroleum and petroleum products

UK SIC 2007: 46711 - Wholesale of petroleum and petroleum products

US SIC 1987: 5172 - Petroleum and Petroleum Products Wholesalers, Except Bulk Stations and Terminals

Key Executives

Name	Title
Chang Gyu Lee	Co-President, Chief Executive Officer, Director
Hui Jun Ahn	Co-President
Jong Hyeon Jang	Vice President
Bong Kwan Kim	Finance Divisional Group Manager
Chong Hyun Chang	Corporate Planning & Development Divisional Group Manager

Significant Developments

Topic	#*	Most Recent Headline	Date
Divestitures	1	SK Networks Co., Ltd. to Sell Entire Shares of SK Securities Co., Ltd.	25-Sep-2012
Negative Earnings Pre-Announcement	1	SK Networks Co., Ltd. Issues FY 2012 Outlook Below Analysts' Estimates	3-May-2012
Equity Investments	2	SK Networks Co., Ltd. Announces Changes in Shareholding Structure	9-Jul-2012
Dividends	1	SK Networks Co., Ltd. Declares Annual Cash Dividend for FY 2011	9-Feb-2012

* number of significant developments within the last 12 months

News

Title	Date
7th International Olefin Annual Conference Will Be Held on October 31st and November 1st in Hong Kong China Business Newsweekly (344 Words)	26-Sep-2012
Yonhap: SK Networks Sells Entire Stake in SK Securities World News Connection (353 Words)	25-Sep-2012
WIPO PUBLISHES PATENT OF SK INNOVATION, SK GLOBAL CHEMICAL FOR "METHOD FOR PREPARING CARBON DIOXIDE/EPOXIDE COPOLYMERS CONTAINING ETHER LINKAGES"... U.S. Fed News (212 Words)	14-Sep-2012
Junior roundup: Red Eagle, Sunward, Baja, Canasil BNamericas (English) (496 Words)	4-Sep-2012
Junior M&A, appointments, financing roundup: FDG, La Mancha, Baja, South American Silver BNamericas (English) (358 Words)	28-Aug-2012

Financial Summary

As of 30-Jun-2012

Key Ratios	Company	Industry
Current Ratio (MRQ)	0.89	1.57
Quick Ratio (MRQ)	0.62	1.11
Debt to Equity (MRQ)	1.23	0.52
Sales 5 Year Growth	11.50	16.91
Net Profit Margin (TTM) %	0.33	16.12
Return on Assets (TTM) %	0.85	5.90
Return on Equity (TTM) %	3.23	11.04

Stock Snapshot

Traded: Korea Stock Exchange: 001740

As of 14-Sep-2012

   Financials in: KRW

Recent Price	10,350.00	EPS	630.50
52 Week High	12,000.00	Price/Sales	0.09
52 Week Low	7,860.00	Dividend Rate	150.00
Avg. Volume (mil)	0.55	Price/Earnings	21.29
Market Value (mil)	2,570,026.00	Price/Book	0.80
		Beta	1.17

	Price % Change	Rel S&P 500%
4 Week	7.70%	4.42%
13 Week	17.61%	8.86%
52 Week	-5.05%	-16.09%
Year to Date	2.48%	-6.80%

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891

2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152

Corporate Overview

Location

104-28, Yeonghwa-Dong, Jangan-Gu

Suwon, 440816

Korea, Republic of

Tel: 82-70-78003111

Fax: 82-2-22210097

Web: www.sknetworks.co.kr

Quote Symbol - Exchange

001740 - Korea Stock Exchange

Sales KRW(mil): 27,535,570.0

Assets KRW(mil): 11,109,763.0

Employees: 3,982

Fiscal Year End: 31-Dec-2011

Industry: Oil and Gas Operations

Incorporation Date: 24-Mar-1956

Company Type: Public Subsidiary

Quoted Status: Quoted

Previous Name: SK Global

Co-President,

Chief Executive Officer,

Director: Chang Gyu Lee

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Executives

Financial Information

Home Page

Investor Relations

News Releases

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Subsidiaries

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

3321 - Petroleum Product Wholesaling

6712 - Non-Residential Property Operators

451 - Cafes, Restaurants and Takeaway Food Services

3323 - Industrial and Agricultural Chemical Product Wholesaling

4400 - Accommodation

3606 - Liquor and Tobacco Product Wholesaling

391 - Motor Vehicle Retailing

3712 - Clothing and Footwear Wholesaling

NACE 2002 Codes:

5151 - Wholesale of solid, liquid and gaseous fuels and related products

5134 - Wholesale of alcoholic and other beverages

5142 - Wholesale of clothing and footwear

5155 - Wholesale of chemical products

5010 - Sale of motor vehicles

7020 - Letting of own property

5510 - Hotels

5530 - Restaurants

NAICS 2002 Codes:

42472 - Petroleum and Petroleum Products Wholesalers (except Bulk Stations & Terminals)

424320 - Men's and Boys' Clothing and Furnishings Merchant Wholesalers

722211 - Limited-Service Restaurants

424330 - Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers

424690 - Other Chemical and Allied Products Merchant Wholesalers

531120 - Lessors of Nonresidential Buildings (except Miniwarehouses)

441110 - New Car Dealers

721110 - Hotels (except Casino Hotels) and Motels

424820 - Wine and Distilled Alcoholic Beverage Merchant Wholesalers

US SIC 1987:

5172 - Petroleum and Petroleum Products Wholesalers, Except Bulk Stations and Terminals

5169 - Chemicals and Allied Products, Not Elsewhere Classified

5137 - Women's, Children's, and Infants' Clothing and Accessories

5182 - Wine and Distilled Alcoholic Beverages

6512 - Operators of Nonresidential Buildings

5812 - Eating Places

5511 - Motor Vehicle Dealers (New and Used)

5136 - Men's and Boy's Clothing and Furnishings

7011 - Hotels and Motels

UK SIC 2003:

51511 - Wholesale of petroleum and petroleum products

5155 - Wholesale of chemical products

5510 - Hotels

51342 - Wholesale of wine, beer, spirits and other alcoholic beverages

5010 - Sale of motor vehicles

70209 - Other letting of own property

5530 - Restaurants

5142 - Wholesale of clothing and footwear

UK SIC 2007:

46711 - Wholesale of petroleum and petroleum products

4675 - Wholesale of chemical products

4642 - Wholesale of clothing and footwear

46342 - Wholesale of wine, beer, spirits and other alcoholic beverages

5510 - Hotels and similar accommodation

5610 - Restaurants and mobile food service activities

4511 - Sale of cars and light motor vehicles

68209 - Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

Business Description

SK Networks Company Limited is a Korea-based company engaged in the mainly engaged in energy and car marketing, trading, telecommunication and others. The Company mainly operates in five business divisions: information communication technology division distributes mobile phones, personal digital assistants (PDAs), navigations and other mobile communication devices; energy and car division markets gasoline, light oil and liquefied natural gas (LNG) through gas stations, sales lubricating oil, asphalt and bunker fuels, distributes used cars, new cars, automobile parts and others; trading and investment division engages in the trading of steel, energy and chemical products; prestige marketing division manufactures and distributes clothes, as well as develops real estate, and hotel business operates tourist hotels, restaurants and others. For the six months ended 30 June 2012, SK Networks Co Ltd revenues increased 5% to W13.784T. Net income applicable to common stockholders decreased 53% to W39.35B. Revenues reflect IM segment increase of 10% to W3.374T, T&I segment increase of 8% to W3.806T, China segment increase of 27% to W2.792T, South Korea segment increase of 4% to W10.567T. Net income was offset by Selling and Administrative Expenses increase of 23% to W899.12B

More Business Descriptions

Diversified trading and the marketing arm of SK Group. Trade in mobile telephones, petroleum, wine, clothing and automotive services

Holding Company; Energy Production, Telecommunications, Engineering, Construction, International Trade & Finance

SK Networks Co., Ltd. (SK Networks) operates as a diversified network, telecommunication, trading and energy marketing company. Additionally, the company also engaged in the operation of convenience stores and gas stations, as well as the provision of fashion goods. The company offers customized services for both individual and corporate customers. The company's business operations are carried out through three group companies, namely, Information & Telecommunication Company, Global Business & Prestige Lifestyle Company and Energy Marketing Company. SK networks’ Information & Telecommunication Company comprised of two groups, namely, network business divisional group and I & T distribution business divisional group. Under the network business divisional group, the company offers an optimum wire communication services in Korea. These services include, leased line service for companies namely, TONETZ and an internet telephony service namely, TONETZ i-fone. Additionally, it offers high quality communication services for the governmental agencies and schools. Through the I & T distribution business divisional group, the company is engaged in the business of telecommunication distribution, customer business, telecommunication service and system business. It distributes various mobile communication devices such as, mobile phones, Smart Phones and PDA in Korea. The company offers products combining the mobile devices such as, mobile phone with super high-speed Internet, IPTV and Internet telephony; export new devices and the rental, roaming and A/S of mobile phones; and multi-brand, multi-item product lines and tailor-made customer services. In addition, it offers MCP service from Mobile Platforms and value added services (VAS) such as Ufit SMS and MMS messaging services. The company's Global Business & Prestige Lifestyle Company is involved in the trading of industrial chemicals, steel products and energy products. As of December 2010, the company had 67 overseas networks in over 22 nations across the globe. It comprises of two groups namely, global business divisional group and prestige lifestyle business divisional group. Through the global business divisional group, the company offers chemicals, steel products and is engaged in energy trading and natural resources development. It trades chemical products namely aromatics such as, SM and BTX; synthetic resin like PE, PP and PET; chemical fiber materials such as, MEG and PTA; Methanol and solvents; and materials of fertilizers like phosphate ore. It also trades steel products of various steelmakers, some of which include POSCO, Union Steel, Dongbu Steel, Hyundai Hysco. Additionally, it exports Korean petroleum products including gasoline, light oil for vehicle, kerosene and LPG, and is a third-country trading mainly in Singapore, China, Vietnam and the Philippines. It also engages in natural resources development business through geologists, geologic engineers, and traders in close cooperation with Korean government-owned corporations and joint venture investments. Under the prestige lifestyle business divisional group, the company comprises fashion, distribution and repair of imported cars, and development of residential products. It offers student uniforms under the brand names of, OBZEE and O’2nd, HANII Y in Bohemian emotion, and SMART; offers wine fund, global distribution and concierge service under the S-Lesailo brand name. SK networks’ Energy Marketing Company is engaged in providing car life total services and also conducts one-to-one marketing. It is operated through two groups, namely, energy marketing divisional group and car-life divisional group. The energy marketing divisional group distributes various petroleum products such as gasoline, lamp oil and diesel in Korea through more than 3,500 gas stations nationwide. It also offers total service ranging from car washing and repair to shopping and various convenience facilities. It also offers a SK e-market.com, which is a B2B site, wherein the clients can order for oil products; and the site also provides provision of managerial information, and communication between the branch in charge and the manager, marketing support, joint purchase.Through its car-life divisional group, the company offers various services ranging from simple repair services to the car life areas which suit the needs of the customers. It as well offers emergency roadside service(ERS), automobile components, used-car sale and rental car business under the Speedmate brand; gas filling station, and maintenance and repair service under OK Mart brand. Through its brand namely Skopi, the company engages in the photo imaging for the printing and special photo products through online, digital photo, photo vending machine and mobile. The company also distributes imported cars such as Nissan, Jaguar/Land Rover, Daimler Chrysler and Infiniti, and provides automobile inspection and maintenance services. In August 2011, the company signed an exclusive sales contract in China with 'Handsome', a Korean representative fashion company. Through this sales contract, SK networks received exclusive sales rights in China for 6 fashion brands including Time Homme, Time, Mine, SJSJ, System and System Homme.

SK Networks Co., Ltd. (SK Networks) is a marketing and distributing company based in South Korea. The company is engaged in the diversified businesses including, network, telecommunication, trading and energy marketing. It operates business of leasing private lines; sells mobile phones; offers a range of chemical and steel products; total car services; and also develops natural resources such as, copper. Additionally, SK Networks provides school uniforms, private label apparel, and casuals; and markets Korean imported automobiles. The company offers its products through gas stations, mobile phone dealer shops, fashion outlets, automobiles-related total life spaces, and overseas branches. SK Networks is headquartered in Seoul, South Korea.The company reported revenues of (Won) KRW 27,535,570.53 million during the fiscal year ended December 2011, an increase of 13.96% over 2010. The operating profit of the company was KRW 345,956.52 million during the fiscal year 2011, an increase of 30.73% over 2010. The net profit of the company was KRW 145,781.16 million during the fiscal year 2011, a decrease of 19.58% from 2010.

This major group includes general contractors and operative builders primarily engaged in the construction of residential, farm, industrial, commercial, or other buildings. General building contractors who combine a special trade with the contracting are included in this major group.

Trading Companies

Financial Data

Financials in:	KRW(mil)
Revenue:	27,535,570.0
Net Income:	145,781.2
Assets:	11,109,763.0
Long Term Debt:	1,797,238.1
Total Liabilities:	7,878,538.0
Working Capital:	-279.3
Date of Financial Data:	31-Dec-2011

1 Year Growth

14.0%

-19.6%

15.0%

Market Data

Quote Symbol:	001740
Exchange:	Korea Stock Exchange
Currency:	KRW
Stock Price:	10,350.0
Stock Price Date:	09-14-2012
52 Week Price Change %:	-5.1
Market Value (mil):	2,570,025,984.0
SEDOL:	B04PZG1
ISIN:	KR7001740000
Equity and Dept Distribution:
01/2005, 4-for-7 reverse stock split. 09/2003, Company changed name from SK Global Co., Ltd. 11/2003, 1-for-7 reverse stock split. 12/2002, 2% Stock Dividend. FY'01 & FY'02, fncls. are RES. All the financials reflect consolidated data. FY'03, FY'05 & FY'06, financials are reclassified.

Subsidiaries

Company	Percentage Owned	Country
SK Networks Australia Pty Limited		AUSTRALIA
LCNC		SOUTH KOREA
SK networks Service		SOUTH KOREA
SK networks Internet		SOUTH KOREA
Speed Motors		SOUTH KOREA
SK plnx		SOUTH KOREA
WS Trading		SOUTH KOREA

Key Corporate Relationships

Auditor:	KPMG LLP
Auditor:	KPMG LLP, Samjong KPMG Inc

Strategic Initiatives

Resource Management

We will also produce profitable results from our previous year’s investments in the iron ore and coal businesses, and transform our communications and petroleum marketing businesses into advanced distribution models by adding to their competitiveness. Secondly, we will continue with our entry into new businesses, such as car life, fashion, wine, and real estate, into highly-profitable enterprises, and developing both upstream- and downstream related companies. Thirdly, we will continue with our strategy of globalization, including our fashion, wine, steel, and chemicals operations in China and other countries. Our fourth task will be to strengthen our ability to operate efficiently and effectively in our new business areas. This includes carrying on with our “Understanding the Mool-li� management strategy of enhancing the skills sets of our workers so that they will be competent in every aspect of their jobs.

Thirdly, we will continue with our strategy of globalization, including our fashion, wine, steel, and chemicals operations in China and other countries. Our fourth task will be to strengthen our ability to operate efficiently and effectively in our new business areas. This includes carrying on with our “Understanding the Mool-li� management strategy of enhancing the skills sets of our workers so that they will be competent in every aspect of their jobs. In addition, we will recruit promising new employees to work in these new enterprises and strengthen our global capabilities. Dear valued shareholders and customers: Everyone at SK networks is committed to working together in 2011 to take another leap forward.

Corporate Family	Corporate Structure News:
	SK Holdings Co, Ltd. SK Networks Co Ltd
SK Networks Co Ltd Total Corporate Family Members: 116

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
SK Holdings Co, Ltd.	Parent	Seoul	Korea, Republic of	Oil and Gas Operations	100,386.8	192
Sk Engineering & Construction Co Ltd	Subsidiary	Seoul	Korea, Republic of	Construction Services	6,390.9	4,396
Sk E&C (Singapore Branch)	Subsidiary	Singapore	Singapore	Engineering Consultants		50
SK Telecom Co Ltd	Affiliates	Seoul	Korea, Republic of	Communications Services	14,431.3	4,027
SK Broadband Co Ltd	Subsidiary	Seoul	Korea, Republic of	Communications Services	2,087.4	1,424
Hanaro Seoul Customer Service Inc.	Subsidiary	Seoul, Seoul	Korea, Republic of	Business Services		450
Sk Broadband Co., Ltd.	Branch	Seoul, Seoul	Korea, Republic of	Real Estate Operations	18.5	91
Broadband D&M Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Business Services	32.9
Broadband Realty Development & Management Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Real Estate Operations
Broadband CS Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Communications Services
Broadband Media Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Broadcasting and Cable Television
Sk Broadband Co., Ltd.	Branch	Koyang, Kyonggi-Do	Korea, Republic of	Broadcasting and Cable Television
SK Communications Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Business Services	236.6	1,288
Cyworld Co., Ltd	Subsidiary	Seoul	Korea, Republic of	Business Services
SK Planet Co Ltd	Subsidiary	Seoul	Korea, Republic of	Computer Services		695
LOEN ENTERTAINMENT, INC.	Subsidiary	Seoul	Korea, Republic of	Audio and Video Equipment	150.9	173
Tu Media Corporation	Subsidiary	Seoul, Seoul	Korea, Republic of	Broadcasting and Cable Television	6.5	7
SK Telink Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Communications Services
SK Telecom Co Ltd	Subsidiary	Jakarta Selatan	Indonesia	Communications Services
SK Telecom Vietnam	Subsidiary	Ho Chi Minh City	Viet Nam	Communications Services
Skytel Co. Ltd.	Joint Venture	Ulaanbaatar	Mongolia	Communications Services
SkyNetworks Co. Ltd.	Subsidiary	Ulaanbaatar	Mongolia	Computer Services
SK Networks Co Ltd	Affiliates	Suwon	Korea, Republic of	Oil and Gas Operations	24,854.0	3,982
SK Chemicals Co Ltd	Subsidiary	Seongnam	Korea, Republic of	Chemicals - Plastics and Rubber	8,001.7	1,670
SK Corporation (Tokyo Branch)	Subsidiary	Tokyo	Japan	Chemical Manufacturing	1.0	10
SK Chemicals Suzhou Co Ltd	Subsidiary	Wujing, Jiangsu Province	China	Chemical Manufacturing
SK Pharma Beijing Co Ltd	Subsidiary	Beijing	China	Personal and Household Products
SK Networks Resources Canada Ltd.	Subsidiary	Vancouver, BC	Canada	Oil and Gas Operations		600
Daiyang-Sk Networks Metal Sanayi Ve Ticaret Ltd Sti	Subsidiary	Tekirdag	Turkey	Iron and Steel		180
MRO Korea Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Miscellaneous Fabricated Products		100
CNTIC-SK Trading Co., Ltd.	Subsidiary	Shanghai	China	Engineering Consultants		50
Kiwi Steel N.Z. Limited	Subsidiary	Auckland	New Zealand	Iron and Steel	13.2	45
Sk Networks Service Internet Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Computer Services		36
SK Global Co., Ltd.	Subsidiary	Beijing	China	Engineering Consultants		30
PT. SK networks (Indonesia)	Subsidiary	Jakarta	Indonesia	Coal		25
Ecoban Finance Limited, LLC	Subsidiary	New York, NY	United States	Investment Services		20
Sk Shipping (Singapore) Pte Ltd	Subsidiary	Singapore	Singapore	Miscellaneous Transportation	139.0	17
Aceline Shipmanagement Pte Ltd	Subsidiary	Singapore	Singapore	Trucking		10
SK Networks Deutschland GmbH	Subsidiary	Frankfurt Am Main, Hessen	Germany	Engineering Consultants	65.5	15
Sk Shipping Europe PLC	Subsidiary	London	United Kingdom	Water Transportation	117.1	10
SK Networks Co., Ltd.	Subsidiary	Qingdao	China	Engineering Consultants	1.0	10
SK Networks do Brasil, Ltda.	Subsidiary	Sao Paulo	Brazil	Miscellaneous Capital Goods		10
SK Networks Co., Ltd.	Subsidiary	Taipei	Taiwan	Engineering Consultants	1.0	9
SK Networks (Zhangjiagang) Metal Products Co., Ltd.	Subsidiary	Zhangjiagang	China	Miscellaneous Capital Goods		9
SK Networks Co., Ltd.	Subsidiary	Wuhan	China	Engineering Consultants	1.0	8
SK Networks Japan Co., Ltd.	Subsidiary	Tokyo	Japan	Iron and Steel		8
SK Networks HONG KONG LIMITED	Subsidiary	Hong Kong	Hong Kong	Beverages (Alcoholic)		7
Obzee N.Y Inc.	Subsidiary	New York, NY	United States	Business Services	0.8	5
SK Networks Australia Pty. Ltd.	Subsidiary	Eastern Creek, NSW	Australia	Commercial Banks		5
SK Global America Inc.	Subsidiary	Houston, TX	United States	Oil and Gas Operations		3
SK Global America Inc.	Subsidiary	Mexico	Mexico	Engineering Consultants
SK Shipping Japan Co., Ltd.	Subsidiary	Tokyo	Japan	Miscellaneous Transportation		3
SK Networks Australia Pty Limited	Subsidiary	Sydney, NSW	Australia	Miscellaneous Capital Goods	20.3
PT. Rimba Sunkyong	Subsidiary	Padang, West Sumatra	Indonesia	Engineering Consultants
SK Networks (Guangzhou) Auto Service	Subsidiary	Guangzhou	China	Business Services
SK Networks (Shenyang) Auto Service	Subsidiary	Shenyang	China	Business Services
SK Networks (Qingdao) Auto Service	Subsidiary	Qingdao	China	Business Services
Sk Networks Co., Ltd.	Branch	Seoul, Seoul	Korea, Republic of	Hotels and Motels
Zhangjiagang Dongbu High Technology Metal Products Co., Ltd.	Subsidiary	Zhangjiagang, Jiangsu	China	Miscellaneous Capital Goods
Shanghai Launch-SK Automobile Service Co., Ltd	Subsidiary	Shanghai	China	Business Services
SK Networks Co Ltd	Subsidiary	Kuala Lumpur	Malaysia	Metal Mining
SK Networks Co Ltd	Subsidiary	Tehran	Iran	Metal Mining
SK Networks (Shanghai) Marketing Co., Ltd.	Subsidiary	Shanghai	China	Business Services
Beijing Xinjincheng Co., Ltd.	Subsidiary	Beijing	China	Miscellaneous Capital Goods
SK Networks (Shanghai) Co., Ltd.	Subsidiary	Shanghai	China	Chemical Manufacturing
PT. Karya Bumi Baratama	Subsidiary	Jakarta	Indonesia	Coal
SK Networks METAL (Xiamen) Co., Ltd.	Subsidiary	Xiamen, Fujian	China	Miscellaneous Fabricated Products
Northern Copper Industrial Co., Ltd.	Subsidiary	Xincheng, Shanxi	China	Metal Mining
SK Global Co., Ltd.	Subsidiary	Moscow	Russian Federation	Engineering Consultants
SK Networks Co., Ltd.	Subsidiary	Mumbai	India	Engineering Consultants
SL International Limited	Subsidiary	Phnom Penh	Cambodia	Engineering Consultants
SK Networks Service Co., Ltd.	Subsidiary	Suwon, Kyonggi-Do	Korea, Republic of	Business Services
Dandong SK Networks Building Materials Co., Ltd.	Subsidiary	Dandong	China	Construction - Supplies and Fixtures
SK Networks Auto Service H.K	Subsidiary	Hong Kong	Hong Kong	Business Services
PT. SK networks Inni Joa Plantation	Subsidiary	Jakarta	Indonesia	Investment Services
SK Networks Steel Australia Pty. Ltd.	Subsidiary	Sydney, NSW	Australia	Miscellaneous Capital Goods
SK Networks Resources Pty. Ltd.	Subsidiary	Tuggerah, NSW	Australia	Coal
SK Innovation Co Ltd	Affiliates	Seoul	Korea, Republic of	Oil and Gas Operations	61,712.9	1,911
SK Corporation	Branch	Dubai	United Arab Emirates	Oil and Gas Operations		100
Sk Mobile Energy Co., Ltd.	Subsidiary	Chonan, Chungchongnam-Do	Korea, Republic of	Electronic Instruments and Controls	12.2	62
Sk Energy International Pte. Ltd.	Subsidiary	Singapore	Singapore	Oil and Gas Operations	23,587.7	50
Bergaya International Pte. Ltd.	Subsidiary
Sk Energy Europe Ltd.	Subsidiary	London	United Kingdom	Oil and Gas Operations	6,178.4	10
Sk Energy Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Oil and Gas Operations	45,312.5
Encar Networks Limited	Subsidiary	Seoul, Seoul	Korea, Republic of	Retail (Specialty)	369.7	505
Netruck Corporation	Subsidiary	Seoul, Seoul	Korea, Republic of	Oil and Gas Operations		63
SK (Beijing) Road Science & Technology Co., Ltd	Subsidiary	Beijing	China	Oil and Gas Operations
SK Asphalt (Shanghai) Co., Ltd.	Subsidiary	Shanghai	China	Oil and Gas Operations
Eskanet Indorea, PT	Subsidiary	Jakarta	Indonesia	Metal Mining
Guangdong SK Advanced Polymer Co., Ltd	Subsidiary	Zhaoqing, Guangdong	China	Oil and Gas Operations
SK Energy Co Ltd	Subsidiary	Seoul	Korea, Republic of	Oil and Gas Operations
SK Energy Hong Kong Limited	Subsidiary	Central	Hong Kong	Oil and Gas Operations
SKC LTD	Affiliates	Suwon	Korea, Republic of	Fabricated Plastic and Rubber	2,232.6	1,594
SKC solmics Co., Ltd.	Subsidiary	Pyeongtaek	Korea, Republic of	Electronic Instruments and Controls	91.9	551
Skc Inc.	Subsidiary	Suwon, Kyonggi-Do	Korea, Republic of	Fabricated Plastic and Rubber	233.4	266
SKC (Beijing) Polyurethane Co., Ltd.	Subsidiary	Shanghai	China	Chemical Manufacturing		20
SKC Europe pu Sp. z o.o.	Subsidiary	Dzierzoniow, Lower Silesia	Poland	Chemical Manufacturing		15
SKC Europe GmbH	Subsidiary	Frankfurt Am Main, Hessen	Germany	Fabricated Plastic and Rubber	21.1	10
Sk Telesys Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Communications Equipment	570.2
Skc Lighting Co., Ltd.	Subsidiary	Tangjin	Korea, Republic of	Electronic Instruments and Controls	9.9
SKC Co., Ltd. - Jincheon Factory	Facility	Jincheon, Chungcheongbuk-do	Korea, Republic of	Containers and Packaging
SKC Co., Ltd. - Suwon Factory	Facility	Suwon, Gyeonggi-do	Korea, Republic of	Chemical Manufacturing
SKC Co., Ltd. - Ulsan Factory	Facility	Ulsan	Korea, Republic of	Containers and Packaging
SK Shipping Co Ltd	Subsidiary	Seoul	Korea, Republic of	Water Transportation	2,003.6	416
Sk Biopharmaceuticals Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Biotechnology and Drugs		120
Sk Forest Co., Ltd.	Subsidiary	Hwasong, Kyonggi-Do	Korea, Republic of	Personal Services	27.1	68
SK Pinx Co., Ltd.	Subsidiary	Seogwipo, Jeju-do	Korea, Republic of	Real Estate Operations
SK Marketing & Company Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Business Services
M&Service Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Software and Programming	62.3	973
SK Lubricants Co., Ltd.	Subsidiary	Seoul	Korea, Republic of	Oil and Gas Operations
SK Lubricants Americas Inc.	Subsidiary	Houston, TX	United States	Oil and Gas Operations	15.2	16
SK Lubricants Japan Co., Ltd.	Subsidiary	Tokyo	Japan	Oil Well Services and Equipment
SK Networks Co Ltd Taipei Branch	Subsidiary	Taipei	Taiwan	Chemical Manufacturing
SK Global Chemical Co., Ltd.	Affiliates	Seoul	Korea, Republic of	Chemical Manufacturing
SK Petrochemical Co Ltd	Subsidiary	Ulsan	Korea, Republic of	Biotechnology and Drugs	724.5	95
SK Global Chemical Co., Ltd. - Ulsan Plant	Facility	Ulsan	Korea, Republic of	Chemical Manufacturing

Competitors Report

Company Name	Location	Employees	Ownership
MMTC Ltd.	New Delhi, India	1,673	Public
Nippon Steel Trading Co., Ltd.	Tokyo, Japan	2,231	Public
Reliance Steel & Aluminum	Los Angeles, California, United States	10,650	Public

executive report

Board of Directors

Name	Title	Function
Jae-won Chey	Board Member	Chairman
Jae Won Choi	Chairman of the Board	Chairman
Biography: Choi Jae Won is Chairman of the Board in SK Networks Company Limited. Currently, Choi is Vice Chairman of SK Holdings Co., Ltd. and SK E&S. Previously, Choi was Director of the Company, Chief Executive Officer of SK GAS LTD and worked for SK TELECOM CO.,LTD. Choi received a Master of Business Administration from Harvard University, The United States. Age: 48 Education: Harvard University, MBA
Byung-ju Chang	Board Member	Director/Board Member
Ki Haeng Cho	Director	Director/Board Member
Sang Hoon Choi	Director	Director/Board Member
Byeong Ju Jang	Non-Executive Independent Director	Director/Board Member
Biography: Jang Byeong Ju has been Non-Executive Independent Director of SK Networks Company Limited. since March 17, 2008. Currently, Jang is Chairman of DAEWOOSKY Institute. Jang was previously Chief Executive Officer and President of Daewoo Corporation. Jang holds a Bachelor's degree from Seoul National University, Korea. Age: 66 Education: Seoul National University, B (Business Administration) Social:
Se Dae Kim	Co-President, Director	Director/Board Member
Biography: Kim Se Dae has been Co-President and Director of SK Networks Company Limited since March 12, 2010. Kim used to serve the Company as Assistant Managing Director and Managing Director. Kim also served as Head of SK Academy and Head of Corporate Culture of SK Holdings Co., Ltd. Kim holds a Bachelor's degree in Business Administration from Sungkyunkwan University, Korea. Age: 55 Education: Sungkyunkwan University, B (Business Administration)
Young Han Kim	Director	Director/Board Member
Sung-min Kim	Board Member	Director/Board Member
Seong Min Kim	Non-Executive Independent Director	Director/Board Member
Biography: Kim Seong Min has been serving as Non-Executive Independent Director of SK Networks Company Limited. since March 23, 2012. Kim is also a Professor at Korea Institute of Science and Technology. Kim worked for THE BANK OF KOREA. Kim holds a Doctorate's degree in Business Administration from Texas Tech University, the United States. Age: 57 Education: Texas Tech University, PHD (Business Administration)
Seung Hee Kwon	Director	Director/Board Member
Chang Gyu Lee	Co-President, Chief Executive Officer, Director	Director/Board Member
Biography: Lee Chang Gyu has been Co-President, Chief Executive Officer and Director of SK Networks Company Limited since 2009. Prior to the current position, Lee was Managing Director of the Company. Previously, Lee served as Director of SK-Enron and Assistant Managing Director of SK Holdings Co., Ltd. Lee holds a Bachelor's degree in Economics from Yonsei University, Korea. Age: 56 Education: Yonsei University, B (Economics)
Yeong Cheol Lee	Non-Executive Independent Director	Director/Board Member
Biography: Lee Yeong Cheol has been Non-Executive Independent Director of SK Networks Company Limited since March 2, 2007. Previously, Lee was with YONHAP NEWS AGENCY. Lee received a Bachelor's degree from Kookmin University, Korea. Age: 62 Education: Kookmin University, B
Ha Jung Song	Non-Executive Independent Director	Director/Board Member
Biography: Song Ha Jung has been serving as Non-Executive Independent Director of SK Networks Company Limited. since March 23, 2012. Song is also a Professor of Public Administration at Kyunghee University, Korea. Song was previously Director of Korea Hydro & Nuclear Power Co., Ltd. Song holds a Doctorate's degree in Public Policy from Harvard University, the United States. Age: 59 Education: Harvard University, PHD (Public Policy)
Hah-zoong Song	Board Member	Director/Board Member
Nam Geun Yoon	Non-Executive Independent Director	Director/Board Member
Biography: Yoon Nam Geun has been Non-Executive Independent Director of SK Networks Company Limited since March 11, 2011. Currently, Yoon also serves as a professor of Korea University. Yoon received a Bachelor's degree in law from Yale University, The United States. Age: 56 Education: Seoul National University, M (Law) Yale University, B (Law) Seoul National University, B (Law)
Chang Hyun Youn	Director	Director/Board Member
Chang-hyun Yun	Board Member	Director/Board Member

Executives

Name	Title	Function
Chang Gyu Lee	Co-President, Chief Executive Officer, Director	Chief Executive Officer
Biography: Lee Chang Gyu has been Co-President, Chief Executive Officer and Director of SK Networks Company Limited since 2009. Prior to the current position, Lee was Managing Director of the Company. Previously, Lee served as Director of SK-Enron and Assistant Managing Director of SK Holdings Co., Ltd. Lee holds a Bachelor's degree in Economics from Yonsei University, Korea. Age: 56 Education: Yonsei University, B (Economics)
Hui Jun Ahn	Co-President	President
Biography: Ahn Hui Jun is Co-President of SK Networks Company Limited. Ahn previously served the Company as Managing Director. Ahn holds a Bachelor's degree in Business Administration from Korea University. Age: 52 Education: Korea University, B (Business Administration)
Tae Jin Kim	Co-President	President
Biography: Kim Tae Jin has been Co-President of SK Networks Company Limited since 2008. Kim was previously Assistant Managing Director of the Company. Kim holds a Bachelor's degree from University of Ulsan, Korea. Age: 50 Education: University of Ulsan, B
Se Dae Kim	Co-President, Director	President
Biography: Kim Se Dae has been Co-President and Director of SK Networks Company Limited since March 12, 2010. Kim used to serve the Company as Assistant Managing Director and Managing Director. Kim also served as Head of SK Academy and Head of Corporate Culture of SK Holdings Co., Ltd. Kim holds a Bachelor's degree in Business Administration from Sungkyunkwan University, Korea. Age: 55 Education: Sungkyunkwan University, B (Business Administration)
Seok Hwan Lee	Co-President	President
Age: 51 Education: Korea University, B Social:
Jong Hun Moon	Co-President	President
Age: 52 Education: Korea University, B (Business Administration)
Yong Jong Yoo	Co-President	President
Age: 59 Education: Korea University, B (Journalism)
Chong Hyun Chang	Corporate Planning & Development Divisional Group Manager	Division Head Executive
Bong Kwan Kim	Finance Divisional Group Manager	Division Head Executive
Beom Hwan Ahn	Assistant Managing Director	Managing Director
Age: 50 Education: Sogang University, B Social:
Yeong Hwan Ahn	Managing Director	Managing Director
Age: 49 Education: Yonsei University, B
Seon Gyeong Bae	Assistant Managing Director	Managing Director
Age: 48 Education: Kyung Hee University, M
Seung Han Baek	Managing Director	Managing Director
Biography: Baek Seung Han has been Managing Director of SK Networks Company Limited since 2009. Previously, Baek was Assistant Managing Director-Head of Chemical Division of the Company. Baek received a Bachelor's degree from Sungkyunkwan University, Korea. Age: 55 Education: Sungkyunkwan University, B
Gwang Hyeon Cho	Assistant Managing Director	Managing Director
Age: 48 Education: Korea University, B
Jun Haeng Cho	Assistant Managing Director	Managing Director
Biography: Cho Jun Haeng is Assistant Managing Director of SK Networks Company Limited. Previously, Cho was Head of Trade Strategy Business Division of the Company. Cho received a Master's degree from Sogang University, Korea. Age: 47 Education: Sogang University, M
Yin Ho Cho	Managing Director	Managing Director
Age: 56 Social:
Hyeon Choi	Assistant Managing Director	Managing Director
Age: 50 Education: Korea Aerospace University, B
Jung Seop Doh	Assistant Managing Director	Managing Director
Age: 49 Education: Korea University, B Social:
Hui Taek Gong	Assistant Managing Director	Managing Director
Age: 53 Education: Dankook University, M
Hong Sin Gwak	Assistant Managing Director	Managing Director
Age: 50 Education: Korea University, B
Tae Yeong Gwon	Assiatant Managing Director	Managing Director
Age: 48 Education: Pusan National University, B
Mi Gyeong Gwon	Managing Director	Managing Director
Age: 52 Education: Sophia University, B
Sang Su Han	Assistant Managing Director	Managing Director
Age: 54 Education: Hannam University, B
Yin Gu Hwang	Assistant Managing Director	Managing Director
Age: 52 Education: University of Pennsylvania, B
Yil Mun Hwang	Assistant Managing Director	Managing Director
Age: 47 Education: Seoul National University, B
Jae Jong Jang	Assistant Managing Director	Managing Director
Age: 54 Education: Pusan National University, B
Hyeon Su Jeon	Assistant Managing Director	Managing Director
Age: 49 Education: Seoul National University, M
Jae Hun Jung	Assistant Managing Director	Managing Director
Age: 48 Education: Arizona State University, B
Seok Hyeon Kang	Assistant Managing Director	Managing Director
Age: 44 Education: Sungkyunkwan University, B
Dong Won Kim	Assistant Managing Director	Managing Director
Age: 52 Education: Kyungpook National University, B
Heon Pyo Kim	Managing Director	Managing Director
Age: 52 Education: Seoul National University, B (Business Administration)
Eun Seong Kim	Assistant Managing Director	Managing Director
Age: 51 Education: Hanyang University, B Social:
Si Hwan Kim	Assistant Managing Director	Managing Director
Age: 48 Education: Korea Aerospace University, B
Yong Seok Kim	Assistant Managing Director	Managing Director
Age: 51 Education: Korea University, B
Yeong Mun Kim	Assistant Managing Director	Managing Director
Age: 49 Education: Myongji University, B Social:
Sang Hyeon Kim	Assistant Managing Director	Managing Director
Age: 51 Education: Seoul National University, B
Jin Yeong Lee	Assiatant Managing Director	Managing Director
Age: 49 Education: Yonsei University, B
Yun Gyu Lee	Assiatant Managing Director	Managing Director
Age: 47 Education: Pusan National University, B
Ho Gyu Lee	Assistant Managing Director	Managing Director
Age: 54 Education: Korea University, M Social:
Yil Hwan Lee	Assistant Managing Director	Managing Director
Age: 46 Education: Yonsei University, B
Hyeon Seok Lee	Assistant Managing Director	Managing Director
Age: 47 Education: George Washington University, B (Education) Yonsei University, B
Tae Hwan Lee	Assistant Managing Director	Managing Director
Age: 48 Education: Yonsei University, B
Eung Sang Lee	Assistant Managing Director	Managing Director
Biography: Lee Eung Sang is Assistant Managing Director of SK Networks Company Limited. Previously, Lee was Head of Corporate Resource Group. Lee received a Master's degree from Boston University, the United States. Age: 47 Education: Boston University, M Social:
Eun Yeong Lee	Assistant Managing Director	Managing Director
Age: 42 Education: Cornell University, M
Hak Hui Lee	Assistant Managing Director	Managing Director
Age: 53 Education: Seoul National University, B
Myeong Yeong Lee	Assistant Managing Director	Managing Director
Age: 50 Education: Yonsei University, B (Business Administration)
Hae Won Lee	Assistant Managing Director	Managing Director
Age: 45 Education: Korea University, B
Cheol Hwan Lee	Assistant Managing Director	Managing Director
Age: 47 Education: Hanyang University, B
Keun Pil Lee	Managing Director	Managing Director
Social:
Jeong Jeon Noh	Managing Director	Managing Director
Age: 53 Education: Dankook University, B
Jae Ho Noh	Assistant Managing Director	Managing Director
Age: 50 Education: Korea University, B
Sang Ryeol Oh	Assistant Managing Director	Managing Director
Age: 52 Education: Kyungpook National University, B
Dae Seong Ohn	Assistant Managing Director	Managing Director
Age: 49
Hyeong Yil Park	Assiatant Managing Director	Managing Director
Age: 48 Education: Yonsei University, B
Seong Su Park	Assistant Managing Director	Managing Director
Age: 53 Education: Hankook University of Foreign Studies, B
Yong Wu Park	Assistant Managing Director	Managing Director
Age: 46 Education: Pusan National University, B
Jang Seon Park	Assistant Managing Director	Managing Director
Age: 49 Education: Pusan National University, B
Jin Wu Park	Assistant Managing Director	Managing Director
Age: 41 Education: Cornell University, B
Gyu Hyeon Shim	Assistant Managing Director	Managing Director
Age: 47 Education: Hongik University, B
Wu Yong Shim	Assistant Managing Director	Managing Director
Age: 52 Education: Pusan National University, B
Gi Won Son	Assistant Managing Director	Managing Director
Age: 48 Education: Yonsei University, B
Seong Geun Song	Managing Director	Managing Director
Biography: Song Seong Geun is Managing Director of SK Networks Company Limited. Previously, Song worked for SK Holdings Co., Ltd. Song holds a Master's degree and a Bachelor's degree from Seoul National University, Korea. Age: 52 Education: Seoul National University, M (Business Administration) Seoul National University, B (Business Administration)
Seong Bong Won	Assistant Managing Director	Managing Director
Age: 52 Education: Hankuk University of Foreign Studies, B Social:
Jo Sep Won	Managing Director	Managing Director
Biography: Won Jo Sep is Managing Director of SK Networks Company Limited. Previously, Won worked for SK Holdings Co., Ltd. Won holds a Bachelor's degree from University of Southern California, the United States. Age: 49 Education: University of Southern California, B
Seok Ho Won	Assistant Managing Director	Managing Director
Age: 47 Education: Yonsei University, B
Dae Rim Choi	Chief Financial Officer	Finance Executive
Bo Sik Jeon	Auditor	Finance Executive
Se Chan	Manager-Public Relations	Public Relations Executive
I. S. Chun	Manager-Business-Resource Development	Research & Development Executive
Jong Hyeon Jang	Vice President	Other
Biography: Jang Jong Hyeon is Vice President of SK Networks Company Limited. Prior to the current position, Jang used to be Managing Director and Assistant Managing of the Company. Jang holds a Bachelor's degree from Seoul National University, Korea. Age: 52 Education: Seoul National University, B
Seung Si Kim	Vice President	Other
Age: 52
Young-Chul Lee	Director	Other

Significant Developments

SK Networks Co., Ltd. to Sell Entire Shares of SK Securities Co., Ltd. Sep 25, 2012

SK Networks Co., Ltd. announced that it will sell its entire 72,684,750 shares of TMC CO., LTD., a Korea-based financial services provider specialized in the securities market, for KRW 99,471,801,210.

SK Networks Co., Ltd. Announces Changes in Shareholding Structure Jul 09, 2012

SK Networks Co., Ltd. announced that National Pension Service has acquired 12,429,497 shares of the Company, representing a 5.01% stake.

SK Networks Co., Ltd. Issues FY 2012 Outlook Below Analysts' Estimates May 03, 2012

SK Networks Co., Ltd. announced that it expects its fiscal year 2012 revenue and operating profit to record KRW 28 trillion and KRW 400 billion, respectively. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 29,091.86 billion for the fiscal year 2012.

SK Networks Co., Ltd. Drops Plan To Buy Stake In Cockatoo Coal- Apr 23, 2012

reported that SK Networks Co., Ltd. has decided not to buy a stake in Cockatoo Coal Ltd. Last month, the Company said it planned to purchase a 40% stake in Cockatoo Coal for AUD313 million (USD332.36 million) as part of efforts to expand overseas resources development.

SK Networks Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 09, 2012

SK Networks Co., Ltd. announced that its Board of Directors has declared an annual cash dividend of KRW 150 per share of common stock and KRW 175 per share of preferred stock for the fiscal year 2011 to shareholders of record on December 31, 2011. The dividend rates of market prices are 1.5% (common shares) and 1.3% (preferred shares), respectively. The total cash dividend amount is KRW 37,248,031,900.

news

7th International Olefin Annual Conference Will Be Held on October 31st and November 1st in Hong Kong China Business Newsweekly (344 Words)	26-Sep-2012
Yonhap: SK Networks Sells Entire Stake in SK Securities World News Connection (353 Words)	25-Sep-2012
WIPO PUBLISHES PATENT OF SK INNOVATION, SK GLOBAL CHEMICAL FOR "METHOD FOR PREPARING CARBON DIOXIDE/EPOXIDE COPOLYMERS CONTAINING ETHER LINKAGES"... U.S. Fed News (212 Words)	14-Sep-2012
Junior roundup: Red Eagle, Sunward, Baja, Canasil BNamericas (English) (496 Words)	04-Sep-2012
Junior M&A, appointments, financing roundup: FDG, La Mancha, Baja, South American Silver BNamericas (English) (358 Words)	28-Aug-2012
Junior M&A, financing roundup: Focus, Baja, NWM, Firestone, Lustros, Franklin BNamericas (English) (412 Words)	24-Aug-2012
Junior M&A, financing roundup: GoldQuest, Crusader, Lara-Malbex, Argentum-Soltoro, Baja BNamericas (English) (488 Words)	21-Aug-2012
Baja's lenders sign new standstill agreement for Boleo project financing BNamericas (English) (210 Words)	07-Aug-2012
Junior roundup: NGEx, Touchstone-Atlantis, Baja BNamericas (English) (432 Words)	07-Aug-2012
Baja secures US$90mn for Boleo project BNamericas (English) (256 Words)	26-Jul-2012

Articles

Korea Republic of : SK GROUP provides $85 million grants to support suppliers TendersInfo News (202 Words) (1 Page)	12-Jun-2012
Sinopec, BP and SK to start RMB 7-bln project in Chongqing China Knowledge Newswires (180 Words) (1 Page)	28-Feb-2012

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	Reclassified Normal 31-Dec-2010	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	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Gross Revenue	24,854.0	20,895.8	17,283.8	20,591.4	19,908.4
Sales Returns and Allowances	-	-	-9.2	-9.6	-151.0
Revenue	24,854.0	20,895.8	17,274.7	20,581.8	19,757.4
Total Revenue	24,854.0	20,895.8	17,274.7	20,581.8	19,757.4
Cost of Revenue	23,149.7	19,446.6	15,867.5	18,930.8	18,023.7
Cost of Revenue, Total	23,149.7	19,446.6	15,867.5	18,930.8	18,023.7
Gross Profit	1,704.3	1,449.3	1,407.2	1,651.0	1,733.7
Selling/General/Administrative Expense	995.8	874.4	781.9	863.4	882.8
Labor & Related Expense	264.3	229.1	244.8	268.5	307.4
Advertising Expense	37.9	36.8	40.7	62.6	43.6
Total Selling/General/Administrative Expenses	1,297.9	1,140.4	1,067.5	1,194.5	1,233.8
Research & Development	0.0	0.5	0.1	0.9	1.2
Depreciation	67.9	65.3	54.0	63.8	75.3
Amortization of Intangibles	13.7	10.0	12.2	11.2	7.6
Depreciation/Amortization	81.6	75.3	66.2	74.9	82.8
Investment Income - Operating	10.6	-29.9	-	-	-
Interest/Investment Income - Operating	10.6	-29.9	-	-	-
Interest Expense (Income) - Net Operating Total	10.6	-29.9	-	-	-
Loss (Gain) on Sale of Assets - Operating	14.9	26.9	-	-	-
Unusual Expense (Income)	14.9	26.9	-	-	-
Other Operating Expense	53.0	31.0	-	-	-
Other, Net	-66.0	-23.8	-	-	-
Other Operating Expenses, Total	-13.1	7.3	-	-	-
Total Operating Expense	24,541.8	20,667.0	17,001.3	20,201.2	19,341.5
Operating Income	312.3	228.9	273.4	380.7	416.0
Interest Expense - Non-Operating	-125.2	-95.3	-144.0	-153.8	-175.0
Interest Expense, Net Non-Operating	-125.2	-95.3	-144.0	-153.8	-175.0
Interest Income - Non-Operating	29.5	28.3	22.8	21.6	19.7
Investment Income - Non-Operating	-19.3	28.2	-81.5	-100.9	145.0
Interest/Investment Income - Non-Operating	10.2	56.5	-58.7	-79.3	164.7
Interest Income (Expense) - Net Non-Operating	0.0	0.0	-	-	-
Interest Income (Expense) - Net Non-Operating Total	-115.0	-38.9	-202.7	-233.2	-10.4
Gain (Loss) on Sale of Assets	-	-	-19.4	-26.4	-10.6
Other Non-Operating Income (Expense)	-	-	-0.1	2.5	195.2
Other, Net	-	-	-0.1	2.5	195.2
Income Before Tax	197.3	190.0	51.1	123.6	590.2
Total Income Tax	69.3	34.0	11.7	41.0	-41.0
Income After Tax	127.9	156.0	39.4	82.6	631.1
Minority Interest	3.6	0.7	1.8	-0.1	-4.1
Equity In Affiliates	-	-	-1.7	-	9.5
Net Income Before Extraord Items	131.6	156.8	39.6	82.5	636.5
Net Income	131.6	156.8	39.6	82.5	636.5
Preferred Dividends	0.0	0.0	0.0	0.0	-11.4
Total Adjustments to Net Income	0.0	0.0	0.0	0.0	-11.4
Income Available to Common Excl Extraord Items	131.6	156.8	39.6	82.5	625.1
Income Available to Common Incl Extraord Items	131.6	156.8	39.6	82.5	625.1
Basic/Primary Weighted Average Shares	248.2	248.2	240.3	240.4	239.4
Basic EPS Excl Extraord Items	0.53	0.63	0.16	0.34	2.61
Basic/Primary EPS Incl Extraord Items	0.53	0.63	0.16	0.34	2.61
Dilution Adjustment	0.0	0.0	-	0.0	0.0
Diluted Net Income	131.6	156.8	39.6	82.5	625.1
Diluted Weighted Average Shares	248.2	248.2	240.3	240.4	239.8
Diluted EPS Excl Extraord Items	0.53	0.63	0.16	0.34	2.61
Diluted EPS Incl Extraord Items	0.53	0.63	0.16	0.34	2.61
Dividends per Share - Common Stock Primary Issue	0.14	0.11	0.10	0.09	0.00
Gross Dividends - Common Stock	33.6	32.2	24.3	21.9	0.0
Interest Expense, Supplemental	125.2	95.3	144.0	153.8	175.0
Depreciation, Supplemental	70.1	67.9	143.6	187.4	203.6
Total Special Items	14.9	26.9	19.4	28.9	7.8
Normalized Income Before Tax	212.2	216.9	70.5	152.5	598.0
Effect of Special Items on Income Taxes	5.2	4.8	4.4	8.8	3.7
Inc Tax Ex Impact of Sp Items	74.6	38.8	16.1	49.8	-37.3
Normalized Income After Tax	137.6	178.1	54.4	102.7	635.3
Normalized Inc. Avail to Com.	141.2	178.8	54.5	102.6	629.2
Basic Normalized EPS	0.57	0.72	0.23	0.43	2.63
Diluted Normalized EPS	0.57	0.72	0.23	0.43	2.62
Amort of Acquisition Costs, Supplemental	-	-	-	2.4	-2.8
Amort of Intangibles, Supplemental	13.7	10.0	12.3	6.7	4.3
Rental Expenses	61.5	62.8	59.7	65.5	72.1
Advertising Expense, Supplemental	37.9	36.8	40.7	62.6	43.6
Research & Development Exp, Supplemental	0.0	0.5	0.1	0.9	1.2
Normalized EBIT	337.8	225.8	273.4	380.7	416.0
Normalized EBITDA	421.6	303.7	429.2	577.2	621.1

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	Reclassified Normal 31-Dec-2008
Filed Currency	KRW	KRW	KRW	KRW	KRW
Exchange Rate (Period Average)	1107.891393	1156.281981	1276.385219	1100.562842	929.183333
Auditor	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	127.9	156.0	37.7	82.6	640.6
Depreciation	70.1	67.9	143.6	187.4	203.6
Depreciation/Depletion	70.1	67.9	143.6	187.4	203.6
Amortization of Intangibles	13.7	10.0	12.3	11.8	7.6
Amortization	13.7	10.0	12.3	11.8	7.6
Deferred Taxes	-	-	-39.7	20.2	29.9
Unusual Items	13.6	-6.3	34.3	56.6	14.9
Equity in Net Earnings (Loss)	-4.0	-15.4	82.9	66.0	-156.2
Other Non-Cash Items	114.6	12.6	29.6	-1.0	-155.1
Non-Cash Items	124.1	-9.1	146.8	121.6	-296.4
Accounts Receivable	-409.2	112.9	-132.4	307.5	-137.6
Inventories	-286.4	6.6	51.2	-264.7	-45.2
Prepaid Expenses	-1.3	3.1	21.3	-17.7	3.1
Other Assets	-	-	1.4	-2.4	1.5
Accounts Payable	666.5	355.5	15.1	-159.4	412.0
Accrued Expenses	-6.6	-0.8	-1.7	11.0	24.8
Taxes Payable	-	-	6.3	1.1	-3.3
Other Liabilities	-17.7	-40.9	-7.8	-19.6	-54.2
Other Operating Cash Flow	-18.7	-204.5	-	-	-
Changes in Working Capital	-73.4	231.9	-46.6	-144.3	201.2
Cash from Operating Activities	262.5	456.7	254.1	279.2	786.5
Purchase of Fixed Assets	-163.4	-187.6	-199.2	-291.0	-444.0
Purchase/Acquisition of Intangibles	-32.2	-5.7	-11.6	-13.6	-65.4
Capital Expenditures	-195.6	-193.4	-210.8	-304.6	-509.3
Acquisition of Business	-216.9	-	-	-	-
Sale of Fixed Assets	78.1	157.3	36.7	36.8	77.7
Sale/Maturity of Investment	37.7	4.9	1,016.1	294.0	119.2
Investment, Net	-6.5	40.1	-	-	-
Purchase of Investments	-106.2	-777.8	-123.0	-442.3	-275.8
Sale of Intangible Assets	1.6	0.4	0.2	0.0	0.3
Other Investing Cash Flow	72.7	-40.0	-19.1	-85.8	-37.4
Other Investing Cash Flow Items, Total	-139.4	-615.1	910.9	-197.3	-116.0
Cash from Investing Activities	-335.0	-808.5	700.1	-501.9	-625.3
Other Financing Cash Flow	-209.5	-98.3	-162.7	-235.6	-86.2
Financing Cash Flow Items	-209.5	-98.3	-162.7	-235.6	-86.2
Total Cash Dividends Paid	-33.6	-26.8	-18.9	-0.6	-2.1
Sale/Issuance of Common	-	-	-	-	74.8
Repurchase/Retirement of Common	-	0.0	-6.7	0.0	-
Common Stock, Net	-	0.0	-6.7	0.0	74.8
Repurchase/Retirement of Preferred	-	-	-	-261.9	-459.1
Preferred Stock, Net	-	-	-	-261.9	-459.1
Warrants Converted	-	-	-	3.2	2.2
Issuance (Retirement) of Stock, Net	-	0.0	-6.7	-258.7	-382.0
Short Term Debt Issued	6,755.6	3,442.2	842.0	3,071.0	1,149.3
Short Term Debt Reduction	-6,513.7	-3,138.8	-1,031.0	-2,461.8	-685.6
Short Term Debt, Net	241.9	303.3	-189.1	609.2	463.7
Long Term Debt Issued	416.3	1,012.9	391.2	347.1	2,968.5
Long Term Debt Reduction	-128.6	-502.9	-833.8	-5.7	-3,525.6
Long Term Debt, Net	287.7	509.9	-442.6	341.4	-557.1
Issuance (Retirement) of Debt, Net	529.6	813.3	-631.7	950.6	-93.5
Cash from Financing Activities	286.5	688.1	-820.0	455.7	-563.8
Foreign Exchange Effects	0.3	0.3	-	-	-
Net Change in Cash	214.3	336.6	134.2	233.0	-402.6
Net Cash - Beginning Balance	920.4	545.3	350.5	173.5	608.1
Net Cash - Ending Balance	1,134.7	881.9	484.7	406.5	205.5
Cash Interest Paid	125.7	88.4	-	-	-
Cash Taxes Paid	56.9	232.0	-	-	-

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	Reclassified Normal 31-Dec-2010	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	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Sales Allowance	-	-	-9.2	-9.6	-151.0
Revenue	24,854.0	20,895.8	17,283.8	20,591.4	19,908.4
Total Revenue	24,854.0	20,895.8	17,274.7	20,581.8	19,757.4
Cost of Revenue	23,149.7	19,446.6	15,867.5	18,930.8	18,023.7
Salaries	206.0	182.4	175.5	208.1	238.1
Retirement Allowance	21.0	13.4	37.5	26.8	30.6
Employee Benefits	37.3	33.4	31.8	33.6	38.7
Travel Expenses	10.8	8.1	6.2	10.6	9.8
Communication Expenses	7.7	6.7	5.9	6.5	10.6
Electrical Circuit Expense	-	-	0.7	-	0.0
Utility Expenses	22.1	20.7	17.3	17.3	19.9
Taxes & Dues	38.9	23.9	20.6	28.3	29.5
Rent	61.5	62.8	59.7	65.5	72.1
Depreciation	67.9	65.3	54.0	63.8	75.3
Amortization-Intangibles	13.7	10.0	12.2	11.2	7.6
Repair Expenses	12.7	10.2	8.0	8.4	26.6
Vehicles Expenses	7.5	7.0	7.0	11.1	11.4
Insurance Expenses	9.6	8.9	8.8	8.9	9.6
Entertainment Exp.	5.7	4.9	3.7	5.8	6.0
Conference Exp.	-	-	1.4	2.3	3.0
Shipping/Storage	92.6	76.6	66.7	78.3	77.5
Office Consumable Expenses	22.3	18.1	4.0	6.9	7.1
Book Expenses	-	-	0.5	0.7	3.3
Education & Training	11.8	7.7	7.1	9.8	6.9
Commissions Paid	523.8	450.7	536.9	541.0	572.4
Expenses for Samples	-	-	1.2	1.4	0.6
Advertising Expense	37.9	36.8	40.7	62.6	43.6
Overseas Branch Exp.	13.3	14.2	13.4	13.1	12.2
Amort-Bad Debt Exp.	4.1	4.4	5.2	0.2	0.1
Other Sales & Administrative Expense	-	-	0.0	20.0	1.5
Research & Development Expense	0.0	0.5	0.1	0.9	1.2
Other Selling, General and Admin. Exp.	16.7	6.3	-	-	-
Miscellaneous Operating Expense	-	-	7.5	27.3	2.9
Depreciation for Investment Property	0.9	0.4	-	-	-
Technology Royalty Expense	134.6	143.3	-	-	-
Adjustment for Selling and Administrativ	0.0	0.0	-	-	-
Gain on Disposal of Financial Assets Ava	-2.9	-33.7	-	-	-
Gain on Disposal of Investments in Affil	-11.6	-	-	-	-
Gain on Disposal of Investment Assets	-0.1	-0.7	-	-	-
Gain on Disposal of Property, Plant and	-7.5	-	-	-	-
Gain on Disposal of Investment in Real E	0.0	-	-	-	-
Gain on Disposal of Intangible Assets	-0.2	-0.1	-	-	-
Dividend Income	-2.0	-	-	-	-
Reversal of Allowance for Doubtful Accou	-1.0	0.0	-	-	-
Recovery of Provisions	-	-0.7	-	-	-
Gain on Purchase at Bargain Price	-2.2	-	-	-	-
Other Operating Income	-60.8	-23.1	-	-	-
Adjustment for Other Operating Income	0.0	0.0	-	-	-
Loss on Disposal of Financial Assets Ava	0.0	4.2	-	-	-
Loss on Disposal of Investments in Affil	18.3	-	-	-	-
Loss on Disposal of Investment Assets	6.0	-	-	-	-
Loss on Disposal of Property, Plant and	17.3	22.7	-	-	-
Loss on Scraping of Property, Plant and	0.1	0.2	-	-	-
Loss on Disposal of Investment in Real E	0.1	-	-	-	-
Loss on Disposal of Intangible Assets	0.1	0.5	-	-	-
Donations Paid	11.8	8.3	-	-	-
Other Allowance for Doubtful Accounts	0.7	2.6	-	-	-
Loss on Disposal of Trade Receivable	5.2	3.7	-	-	-
Provision for Financial Guarantee Liabil	-	0.6	-	-	-
Provisions	2.9	0.6	-	-	-
Other Operating Expenses	37.6	18.9	-	-	-
Adjustment for Other Operating Expense	0.0	0.0	-	-	-
Total Operating Expense	24,541.8	20,667.0	17,001.3	20,201.2	19,341.5
Interest Income	29.5	28.3	22.8	21.6	19.7
Dividend Income	-	-	1.7	0.9	0.7
G-Disp ST Invest Securities	-	-	0.0	0.0	0.0
G-For Curr Transactn	142.7	136.9	379.8	731.4	93.9
G-For Exch Translatn	25.8	40.4	22.7	53.7	16.2
Recovery-Invest. Asset Reduction Loss	-	-	1.4	-	5.2
G-Inv.Asset Disposal	-	-	30.8	24.2	2.3
G-Tang Asst Disposal	-	-	7.1	13.2	33.3
Gain-Disposal of Intangible Assets	-	-	2.3	-	0.2
Gain-Derivatives Transactions	108.5	93.4	-	-	0.0
G-Derivatives Valuation	30.6	3.9	6.0	76.1	0.8
Gain-Disposal of inventory	-	-	-	0.0	-
Revers-Doubtful Acct	-	-	-	1.6	21.3
Gain-Assets Contributed	-	-	-	0.1	161.1
Reversal-Neg Goodwil	-	-	1.6	2.6	6.0
Other Non-Operating Income	-	-	22.1	20.4	27.7
Interest Expense, Non-Operating	-125.2	-95.3	-144.0	-153.8	-175.0
Other Amortization	-	-	-0.8	-3.2	-0.3
L-Trade Rcv Disposal	-	-	-22.9	-34.1	-21.0
L-Disp ST Investmen Securities	-	-	0.0	0.0	-0.2
L-Inventory Valuatn.	-	-	-0.3	-0.2	-1.0
Loss-Reduction of Intangible Assets	-	-	-5.8	-0.1	-
L-Inventory Disposal	-	-	-	-	0.0
Loss-Reduction in inventory	-	-	-	-	-2.4
L-For Curr Transactn	-152.1	-122.8	-358.0	-788.4	-104.7
L-For Exch Translatn	-53.9	-35.3	-14.1	-90.4	-8.1
Donations Paid	-	-	-7.6	-7.3	-0.5
L-LT Inv.Secs Valuation	-	-	-5.2	-0.1	-7.2
Loss-Reduction of Tangible Assets	-	-	-	-24.2	-
L-Inv.Asset Disposal	-	-	-6.8	-	-0.6
Loss-Disposal of Other Investment Assets	-	-	-	0.0	-
Loss-Scrap of Tangible Assets	-	-	-29.0	-0.3	-2.9
L-Tang.Asst Disposal	-	-	-5.8	-5.5	-20.7
L-Intang Asset Disp.	-	-	-0.1	0.0	-0.1
Loss-Valuation of inventory	-	-	-	-2.0	-
Loss-Redemption of Debentures	-	-	-	-0.1	-
Loss-Derivatives Transaction	-113.7	-97.4	-	0.0	0.0
L-Value Derivatives	-11.4	-6.2	-21.9	-8.8	-5.6
Loss-Other Investment Assets Reduction	-	-	-	-6.4	-
Other Non-Operating Expense	-	-	-15.5	-11.7	-19.4
Miscellaneous Non-Operating Expense	-	-	-	-	-0.8
G-Equity Method Val.	-	-	9.3	5.1	166.4
L-Equity Method Val.	-	-	-90.3	-53.9	-10.2
Loss-Reduction of Equity Method Sec.	-	-	-1.9	-17.2	-
Adjustment for Finance Income	0.0	0.0	-	-	-
Adjustment for Finance Expense	0.0	0.0	-	-	-
Gain/Loss under Equity Method	4.0	15.4	-	-	-
Net Income Before Taxes	197.3	190.0	51.1	123.6	590.2
Provision for Income Taxes	69.3	34.0	11.7	41.0	-41.0
Net Income After Taxes	127.9	156.0	39.4	82.6	631.1
Affiliates Income-Before Purchased	-	-	-1.7	-	9.5
Minority Interest Gain	3.6	0.7	1.8	-0.1	-4.1
Net Income Before Extra. Items	131.6	156.8	39.6	82.5	636.5
Net Income	131.6	156.8	39.6	82.5	636.5
Preferred Dividends	0.0	0.0	0.0	0.0	-11.4
Income Available to Com Excl ExtraOrd	131.6	156.8	39.6	82.5	625.1
Income Available to Com Incl ExtraOrd	131.6	156.8	39.6	82.5	625.1
Basic Weighted Average Shares	248.2	248.2	240.3	240.4	239.4
Basic EPS Excluding ExtraOrdinary Items	0.53	0.63	0.16	0.34	2.61
Basic EPS Including ExtraOrdinary Item	0.53	0.63	0.16	0.34	2.61
Dilution Adjustment	0.0	0.0	-	0.0	0.0
Diluted Net Income	131.6	156.8	39.6	82.5	625.1
Diluted Weighted Average Shares	248.2	248.2	240.3	240.4	239.8
Diluted EPS Excluding ExtraOrd Items	0.53	0.63	0.16	0.34	2.61
Diluted EPS Including ExtraOrd Items	0.53	0.63	0.16	0.34	2.61
DPS-Common Stock	0.14	0.11	0.10	0.09	0.00
Gross Dividends - Common Stock	33.6	32.2	24.3	21.9	0.0
Normalized Income Before Taxes	212.2	216.9	70.5	152.5	598.0
Inc Tax Ex Impact of Sp Items	74.6	38.8	16.1	49.8	-37.3
Normalized Income After Taxes	137.6	178.1	54.4	102.7	635.3
Normalized Inc. Avail to Com.	141.2	178.8	54.5	102.6	629.2
Basic Normalized EPS	0.57	0.72	0.23	0.43	2.63
Diluted Normalized EPS	0.57	0.72	0.23	0.43	2.62
Interest Expense, Supplemental	125.2	95.3	144.0	153.8	175.0
Rental Expense, Supplemental	61.5	62.8	59.7	65.5	72.1
Advertising Expense, Supplemental	37.9	36.8	40.7	62.6	43.6
R&D Expense, Supplemental	0.0	0.5	0.1	0.9	1.2
Depreciation, Supplemental	70.1	67.9	143.6	187.4	203.6
Amort of Intangibles, Supplemental	13.7	10.0	12.3	6.7	4.3
Amort of Acquisition Costs	-	-	-	5.1	3.2
Amort of Negative Goodwill	-	-	-	-2.6	-6.0

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	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	KRW	KRW	KRW	KRW	KRW
Exchange Rate	1152	1134.9	1164.475	1259.55	936.05
Auditor	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash/Equivalents	1,091.3	898.5	-	-0.2	203.9
Cash & Equivalents-Government Subsidy	-	-	531.3	355.2	-
ST Finl Assets	13.8	6.2	48.1	36.2	68.7
ST Investment Securities	0.1	1.4	0.0	5.4	1.9
Trade Receivables, Net	1,820.8	1,427.6	-	-	-
Trade Rcvb Gross	-	-	1,183.7	882.1	1,534.2
Doubtful Account	-	-	-18.9	-15.7	-23.9
ST Loan, Net	16.0	12.6	24.5	33.0	42.5
Other Rcvbls.	129.2	103.7	186.0	209.3	131.3
Accrued Income	4.7	6.5	2.2	2.0	0.6
Advance Payments	105.5	47.8	32.5	30.8	38.7
Prepaid Expenses	21.4	20.8	9.3	26.9	17.7
Receivable-Recovery of Taxes	-	-	-	1.7	2.5
Other Quick Asst	-	-	4.3	4.8	2.0
Deferred Tax Asset	-	-	22.7	36.1	23.9
Merchandise	885.1	719.0	692.7	734.0	740.7
Finished Goods	52.6	33.3	51.2	22.4	22.1
Finished Residential Units, Current	9.0	70.7	4.3	-	-
Work in Progress	28.3	17.2	11.8	3.3	2.9
Raw Materials	30.4	55.2	43.2	46.0	20.9
Suppl. Material	0.2	0.7	1.1	8.5	13.5
Land-Construction Business	-	-	5.4	18.7	-
Supplies	0.6	1.7	0.3	-	-
Residential Units in Progress	-	-	0.3	5.3	8.4
Goods in Transit	131.7	37.0	72.8	23.5	47.1
Land	-	-	-	-	19.1
Derivatives	0.0	20.4	-	-	-
Other Current Assets	16.7	34.5	-	-	-
Current Assets Held for Sale	142.5	-	-	-	-
Current Portion of Long-Term Loans	3.1	6.2	-	-	-
Guarantee Deposits, Current Assets	12.3	15.6	-	-	-
Adjustments for Other Financial Instrume	0.0	0.0	-	-	-
Other in Other Current Assets	-	0.0	-	-	-
Adjustment for Other Current Assets	0.0	0.0	-	-	-
Semi-finished Goods	1.3	1.3	-	-	-
Adjustment for Inventories	0.0	0.0	-	-	-
Total Current Assets	4,516.7	3,537.9	2,908.5	2,469.5	2,918.6
LT Finl Assets	0.9	1.1	1.1	1.1	0.2
LT Invest Secs.	-	-	77.0	340.3	597.3
Securities under Equity Method	1,258.1	1,199.6	483.8	574.1	551.1
LT Prepaid Expense	47.9	52.6	3.2	5.0	0.6
Adv.Invest Money	4.6	31.5	6.6	4.3	12.5
LT Loans	66.3	95.2	64.0	54.8	45.9
LT Security Deposit	115.2	124.7	167.3	171.0	199.7
Other Investment Assets	7.5	6.7	21.3	16.5	25.7
LA Deferred Tax	0.6	0.2	-	-	3.7
Land	-	-	2,248.5	2,192.3	1,604.3
Buildings	-	-	607.1	558.1	703.4
Buildings Depre.	-	-	-98.9	-77.1	-87.8
Buildings Reduction	-	-	-1.0	-0.9	-1.2
Structures	-	-	113.4	161.1	195.2
Structure Depre.	-	-	-21.4	-30.0	-32.0
Structures-Contribution	-	-	-	-1.4	-1.2
Machinery/Equip.	-	-	124.4	974.6	1,141.7
Mach/Equip Depre	-	-	-59.8	-451.3	-456.2
Machinery/Equipment-Contribution	-	-	-	-4.8	-3.9
Transport Equip.	-	-	42.4	15.9	21.2
Transport Deprec	-	-	-14.0	-11.4	-14.6
Tanks	-	-	17.8	16.7	22.8
Accum Depr-Tanks	-	-	-6.3	-5.3	-6.6
Ships	-	-	-	-	1.8
Ships Deprec.	-	-	-	-	-1.1
Other Tangibles	-	-	199.8	201.7	256.1
Other Tangible Assets-Government Subsidy	-	-	-	-0.1	-0.2
Other Tangibles-Depreciation	-	-	-136.3	-138.5	-173.6
Other Tangible Assets-Reduction	-	-	-	-1.4	-
Construc in Prog	-	-	59.6	77.7	77.6
Other Fixed Assets	-	-	1.3	1.4	2.6
Indust.-Patent	0.0	0.2	0.1	0.1	0.2
Development Cost	37.6	22.4	15.9	12.8	11.7
Development Cost-Government Subsidy	-	-	0.0	-0.1	-
Other Intangible	58.1	54.6	67.2	72.0	60.6
Goodwill	36.6	22.0	18.7	34.1	42.0
Neg Goodwill	-	-	-71.7	-46.3	-94.5
Non-Current Securities Available-for-Sal	248.8	140.0	-	-	-
Non-Current Securities Held-to-Maturitie	1.0	1.0	-	-	-
Non-Current Derivatives Assets	5.2	-	-	-	-
Property, Plant & Equipment, Net	3,152.6	3,104.8	-	-	-
Adjustment for Intangible Assets	0.0	0.0	-	-	-
Investment in Properties	86.2	118.2	-	-	-
Non-Current Other Receivables	0.0	1.2	-	-	-
Adjustment for Non-Current Financial Ins	0.0	0.0	-	-	-
Adjustment for Other Non-Current Assets	0.0	0.0	-	-	-
Total Assets	9,643.9	8,513.9	6,839.2	7,186.8	7,623.5
Trade Payables	2,977.9	2,433.4	2,046.4	1,804.7	2,498.4
ST Borrowings	-	-	311.6	925.6	523.7
Accounts Payable	161.8	196.8	143.2	173.3	231.5
Advances Rcvd.	58.8	67.9	50.7	39.5	39.6
Deposit Withheld	76.6	68.3	19.8	7.4	17.9
Sec Dep Withheld	-	-	-	-	38.9
Accrued Expenses	42.5	47.3	41.1	41.5	42.1
Current LT Liab.	-	-	85.9	193.8	310.8
Discount on Debentures Issuance, Current	-	-	-	-0.1	-
Unearned Income	17.3	6.1	3.4	0.5	0.9
Inc. Taxes Pay.	13.4	16.4	186.4	1.0	0.9
Other Cur Liabs.	-	-	0.1	1.4	1.1
Current Portion of LT Bonds	-	-	260.2	-	-
Discount on Debentures Issuance for Curr	-	-	-0.3	-	-
ST Borrowings&Bonds	1,432.5	1,218.5	-	-	-
Current Liabilities Held for Sale	123.3	-	-	-	-
Financial Guarantee Deposits Liabilities	-	1.7	-	-	-
Adjustment for Other Current Financial L	0.0	0.0	-	-	-
Value Added Taxes Withholdings	2.4	2.6	-	-	-
Adjustment for Other Current Liabilities	0.0	0.0	-	-	-
Total Current Liabilities	4,906.6	4,059.0	3,148.4	3,188.5	3,705.8
Bonds	-	-	218.1	219.9	162.8
LT Borrowings	-	-	523.9	1,248.8	1,590.7
Discount on Issuance of Debentures	-	-	-1.0	-0.7	-
Stock Warrants L	-	-	-	-	0.6
Non-Current Borrowings & Bonds	1,560.1	1,351.1	-	-	-
Total Long Term Debt	1,560.1	1,351.1	741.0	1,468.0	1,754.1
Security Deposit, LT	-	-	105.3	77.6	64.5
LT Account Payable	0.1	0.0	-	-	2.0
Other LT Liabilities	-	-	0.0	0.0	0.0
Deferred Tax-Cr.	218.0	192.7	171.4	252.4	-
Other Liabilities Reserve	-	-	3.8	1.5	0.9
Minority Int.	36.6	16.4	21.6	290.2	290.8
Reserve-Severance and Retirement Benefit	-	-	38.0	96.6	58.9
Deposit-Retirement Insurance	-	-	-26.6	-56.0	-
Transfer to National Pension Fund	-	-	-0.2	-0.9	-
Non-Current Derivatives Liabilities	3.8	2.9	-	-	-
Non-Current Fixed Benefit Liabilities	16.2	6.4	-	-	-
Guarantee Deposits Withholdings, Non-Cur	87.6	89.8	-	-	-
Adjustment for Other Non-Current Financi	0.0	0.0	-	-	-
Reserve for Non-Current Sales Guarantee	0.2	0.4	-	-	-
Lawsuit Reserve	2.8	0.6	-	-	-
Other Non-Current Provisions	4.9	0.5	-	-	-
Adjustment for Non-Current Provisions	0.0	0.0	-	-	-
Other Non-Current Employee Benefits Lia	2.1	2.6	-	-	-
Non-Current Guarantee Deposits Withholdi	-	18.9	-	-	-
Ad-Other Non-current Liabilities	0.0	0.0	-	-	-
Total Liabilities	6,839.0	5,741.4	4,202.6	5,318.0	5,877.0
Common Stock	538.6	546.7	532.8	482.3	641.0
Preferred Stock	24.5	24.8	0.2	0.2	0.3
Recovery-Preferred Stock	-	-	24.0	22.2	29.8
Paid-in Capital in Excess of Par	-	-	76.5	74.2	37.5
Consideration for Stock Warrants	-	-	0.3	-	0.4
Gain-Valuation of Derivatives	-	-	0.1	-0.8	0.2
Other Capital Surplus	686.4	710.3	692.3	0.3	-
Stock Warrant	-	-	0.0	0.0	0.0
G-Valuation Securities under Equity Meth	77.6	50.7	62.2	43.0	69.9
Capital Change under Equity Method	-44.1	-5.5	-1.9	-0.6	-5.2
Overseas Business Trans. Debit/Credit	-	-	49.3	55.2	0.3
Loss-Valuation of Derivatives	-7.2	-2.2	-0.1	-	-
Revaluation of Land	-	-	757.0	778.2	-
Legal Reserve	-	-	2.1	-	-
Treasury Stock	-	-	-	-47.5	-1.4
Valuation-LT Investment Securities	-	-	-	86.4	256.3
Voluntary Reserve	-	-	69.2	64.0	86.1
Retained Earning Carried Forward	-	-	372.8	311.6	631.2
Discounts on Stock Issuance	-	-	0.0	0.0	0.0
Adjustment for Capital Stock	0.0	0.0	-	-	-
Retained Earnings or Accumulated Deficit	1,436.5	1,366.0	-	-	-
Other Capital Items	0.0	0.0	-	-	-
Additional Paid in Capital	77.3	78.5	-	-	-
Adjustment for Capital Surplus	0.0	0.0	-	-	-
Gain on Valuation of Securities Availabl	-	3.1	-	-	-
Loss on Valuation of Securities Availabl	-6.7	-	-	-	-
Overseas Business Translation Credit	21.9	0.0	-	-	-
Adjustment for Other Capital Items	0.0	0.0	-	-	-
Total Equity	2,804.9	2,772.4	2,636.6	1,868.7	1,746.5
Total Liabilities & Shareholders' Equity	9,643.9	8,513.9	6,839.2	7,186.8	7,623.5
S/O-Common Stock	248.2	248.2	248.2	240.5	240.0
Total Common Shares Outstanding	248.2	248.2	248.2	240.5	240.0
T/S-Common Stock	0.0	0.0	0.0	2.5	0.1
S/O-Preferred Stock	0.1	0.1	0.1	0.1	0.1
S/O-Convertible Preferred Stock	0.0	0.0	0.0	0.0	3.3
Total Preferred Shares Outstanding	0.1	0.1	0.1	0.1	3.4
T/S-Preferred Stock	0.0	0.0	0.0	0.0	0.0
T/S-Convertible Preferred Stock	0.0	0.0	0.0	0.0	0.0
Deferred Revenue, Current	76.1	74.0	54.2	40.0	40.5
Full-Time Employees	4,085	3,852	2,069	2,439	2,193
Number of Common Shareholders	-	39,231	45,576	25,756	23,243
LT Debt Maturing within 1 Yr	-	-	346.1	193.8	311.1
LT Debt Maturing within 2Yr	-	-	124.6	395.2	227.1
LT Debt Maturing within 3Yr	-	-	56.0	180.0	335.4
LT Debt Maturing within 4 Yr	-	-	50.9	215.5	240.6
LT Debt Remaining Maturities	-	-	284.6	671.4	951.9
Total Long Term Debt, Supplemental	-	-	862.2	1,655.9	2,066.1
Operating Lease Maturing within 1 Yr	52.5	-	21.8	-	0.0
Operating Lease Maturing within 5 Yr	61.1	-	26.3	-	-
Optg leases-year 2	-	-	-	-	0.0
Total Operating Leases	113.6	-	48.0	-	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	Reclassified Normal 31-Dec-2008
Filed Currency	KRW	KRW	KRW	KRW	KRW
Exchange Rate (Period Average)	1107.891393	1156.281981	1276.385219	1100.562842	929.183333
Auditor	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income	127.9	156.0	37.7	82.6	640.6
Depreciation	70.1	67.9	143.6	187.4	203.6
Retirement Allowance	16.7	14.7	38.3	27.7	32.2
Amort. Intangible	13.7	10.0	12.3	11.8	7.6
Repair Expenses OP	-	-	3.6	1.4	0.3
Amort-Bad Debt Exp.	4.1	4.4	5.2	0.2	0.1
Interest Paid	125.2	95.3	-	-	-
Amortization-Present Value Discount	-	-	-	-	16.2
Amortization-Discount on Bond Issuance	-	-	0.3	0.4	1.1
Amort-Otr Bad Debt E	0.7	2.6	0.8	3.2	0.3
L-Trade Rcvbl. Disp	-	-	22.9	34.1	21.0
L-Disp. ST Investment Secs	-	-	0.0	0.0	0.2
Loss-Derivatives Transaction	-	-	-	-	0.0
L-Inventory Valuatn.	-	-	-	29.1	2.5
L-Inventory Deplation	-	-	0.3	0.4	0.8
L-For Currency Transaction	-	-	-	-	0.0
L-For Exch Translatn	53.9	35.3	14.1	90.2	8.1
Loss-Redemption of Bond	-	-	-	0.1	-
Donations	-	-	-	1.3	-
L-Equity Method Val.	-	-	90.3	53.9	10.2
Loss-Reduct. of Sec. under Equity Method	-	-	1.9	17.2	-
L-LT Invesetment Valuation	-	-	5.2	0.1	7.2
Loss-Reduction of Tangible Assets	-	0.0	-	24.2	-
L-Disposal of Other Investment Assets	-	-	-	0.0	0.6
Loss-Investment Assets Disposal	0.0	4.2	6.8	-	-
Loss-Scrap of Tangible Assets	0.1	0.2	29.0	0.3	2.9
L-Tangible Asst Disp	17.3	22.7	5.8	5.5	20.7
L-Intang.Asset Disp.	0.1	0.5	0.1	0.0	0.1
Loss-Reduction of Intangible Assets	-	-	5.8	0.1	-
L-Derivatives Valuation	11.4	6.2	21.9	8.8	5.6
L-Reduction of Other Investment Assets	-	-	-	6.4	-
Income before Merger	-	-	1.7	-	-
Amort-Discount Value	-29.5	-28.3	-0.1	-0.1	-0.2
G-Disp ST Investment Secs	-	-	0.0	-	0.0
Recovery-Invest. Assets Reduction Loss	-	-	-1.4	-	-5.2
Recovery-Inventory Valuation Loss	-	-	-17.0	-	-14.2
G-For Exch Tranlsatn	-25.8	-40.4	-22.7	-53.7	-15.7
G-Inv. Asset Disp.	-	-	-30.8	-24.2	-2.3
G-Tang Asset Disp.	-7.5	-	-7.1	-13.2	-33.3
Gain-Disposal of Intangible Assets	-0.2	-0.1	-2.3	-	-0.2
Gain-Derivatives Transaction	-	-	-	-	0.0
G-VAlue Derivatives	-30.6	-3.9	-6.0	-76.1	-0.8
Revers-Doubtful Acct	-1.0	0.0	-	-1.6	-21.3
Gain-Disposal of Inventory	-	-	-	0.0	-
Gain-Assets Contributed	-	-	-	-	-161.1
Revers-Neg Goodwill	-	-	-1.6	-2.6	-6.0
Affiliates' Loss Before Puchased	-	-	-	-	-9.5
G-Equity Method Val.	-	-	-9.3	-5.1	-166.4
Miscellaneous Gain	-	-	-0.1	-	-
Trade Receivables	-417.9	132.0	-168.5	370.1	-168.0
Increase-Other Reserve	-	-	-0.2	0.2	0.0
Account Receivables	-	-	36.4	-61.0	29.9
Accrued Income	-	-	-0.3	-1.7	0.5
LT Prepaid Expense	-	-	0.7	-5.2	-0.6
Advance Payments	-63.2	-12.2	5.6	-1.7	-14.5
Prepaid Expenses	-1.3	3.1	18.9	-12.7	4.3
Corporate Tax Refundable	-	-	1.7	0.2	-0.6
Other Quick Asset	-	-	1.9	-3.4	0.8
Inventories	-223.2	18.8	45.6	-263.0	-30.7
Deferred Tax-Assets	-	-	14.9	0.2	7.7
Other Fixed Assets	-	-	-0.4	1.1	0.7
Deferred Tax-Assets, Current	-	-	-	-22.5	22.9
Trade Payables	698.5	297.8	33.1	-158.6	373.7
Account Payables	-32.1	57.7	-18.0	-0.8	38.4
Advances Received	-17.0	-13.5	23.2	14.9	-32.7
Unearned Income	7.5	-0.5	2.7	-0.3	-1.9
Deposit Withheld	1.6	-0.6	12.1	-6.0	-0.1
Security Deposit	-	-	22.1	2.1	4.1
Accrued Expenses	-6.6	-0.8	-1.7	11.0	24.8
Accrued Inc Tax	-	-	6.3	1.1	-3.3
Other Current Liab.	-	-	-0.9	0.0	0.5
Deposit of Retirement Insurance	-	-	-	-	0.4
Retirement Allow Pay	-16.8	-15.8	-98.7	-19.2	-19.7
Overseas Business Translation Debit	-	-	-8.7	-6.7	9.7
Nation Pension Fund	-	-	0.6	0.2	0.1
Retirement Insurance	-	-	31.3	-11.5	-5.0
Deferred Taxes-Liab.	-	-	-54.6	42.4	-0.7
Other LT Liabilities	-	-	-	0.0	0.0
Account Receivables	8.7	-19.1	-	-	-
Corporate Taxes Expense	69.3	34.0	-	-	-
Dividend Income	-2.0	-	-	-	-
Depreciation of Investment Properties	0.9	0.4	-	-	-
Loss on Disposal of Investment Propertie	0.1	-	-	-	-
Gain on Disposal of Investment Propertie	0.0	-	-	-	-
Gain on Disposal of Investment in Affili	-11.6	-	-	-	-
Loss on Disposal of Investment in Affili	18.3	-	-	-	-
Gain/Loss under Equity Method	-4.0	-15.4	-	-	-
Gain on Disposal of Financial Assets Ava	-2.9	-33.7	-	-	-
Other Income or Expenses	13.2	3.2	-	-	-
Plan Assets	7.0	-10.5	-	-	-
Other Non-Cash Items	33.4	-15.6	-	-	-
Cash-Interest Received	36.7	20.5	-	-	-
Cash-Interest Paid	-125.7	-88.4	-	-	-
Cash-Dividend Income	2.0	-	-	-	-
Cash-Tax Paid	-56.9	-232.0	-	-	-
Cash from Operating Activities	262.5	456.7	254.1	279.2	786.5
Dec-ST Finl Assets	-	-	25.1	38.3	50.3
Disp-ST Investment Secs	-	-	4.0	3.3	1.9
Decrease-ST Loans	-	-	21.3	18.4	26.0
Dec-LT Finl Assets	-	-	0.1	0.1	0.0
Dec-LT Investment Secs.	19.5	4.9	244.3	4.5	7.7
Disposal-Securities under Equity Method	17.2	-	13.1	225.7	14.3
Dividend Income, IP	-	-	1.3	3.7	13.4
Decrease-LT Loans	-	-	24.9	18.3	81.4
Decrease-Other Quick Assets	-	-	-	-	6.5
Dec-Guarantee Dep	87.0	37.3	64.4	33.8	131.0
Dec. Other Inv Asset	-	-	1.8	-	5.6
Cash Inflow-Business Segment	-	-	705.1	-	-
Disposal of Land	-	-	24.9	30.0	56.1
Disposal of Building	-	-	1.2	2.9	4.8
Disposal Structure	-	-	0.7	0.8	1.2
Disposal Machinery	-	-	0.9	0.8	0.5
Disposal Vehicles	-	-	1.0	0.6	6.1
Disposal of Tanks	-	-	0.2	0.4	0.9
Disposal of Ships	-	-	-	0.7	-
Disp-Othr Tang Asset	-	-	7.9	0.6	2.1
Increase-Government Subsidy	-	-	-	1.0	1.0
Decrease-Development Cost	-	-	0.8	-	-
Decrease-Construction Contribution	-	-	-	-	6.1
Decrease-Goodwill	-	-	0.1	-	0.2
Decrease-Industrial Property Right	-	-	-	-	0.1
Decrease-Fund for Investment	-	-	1.9	0.1	56.9
Disp Other Intang Asset	-	-	0.1	0.0	-
Inc-ST Finl Assets	-	-	-48.4	-21.2	-67.0
Acq-ST Investment Secs.	-	-	-	-5.4	-0.9
Inc-ST Loans	-	-	-14.0	-30.8	-17.4
Inc-LT Finl Assets	-	-	-7.3	-1.2	0.0
Inc-LT Investment Secs.	-106.1	-18.3	-2.9	-51.7	-22.5
Acq-Securities under Equity Method	-0.1	-759.6	-60.5	-359.3	-169.0
Inc-Inv.Advan. Money	-	-	-3.6	-1.2	-68.7
Increase-Other Quick Assets	-	-	-	-0.3	-0.1
Inc-LT Loans	-	-	-24.8	-50.6	-94.5
Inc-Guarantee Depos	-76.2	-10.9	-58.4	-55.3	-132.5
Inc-Other Invs Asset	-	-	-3.8	-3.5	-16.4
Acquisition of Land	-	-	-0.3	-25.6	-55.6
Acquis. of Building	-	-	-6.1	-9.9	-20.0
Purch. of Structure	-	-	-1.9	-5.3	-6.3
Purch. of Machinery	-	-	-13.6	-16.0	-22.7
Acquistion-Vehicles	-	-	-18.8	-2.2	-8.0
Acquis. of Tanks	-	-	-0.1	-0.2	-0.2
Acq-Other Tang Asset	-	-	-20.1	-23.1	-29.3
Decrease-Government Subsidy	-	-	-0.2	-0.9	-0.8
Acq-Construct. Prog	-	-	-138.2	-208.6	-301.8
Acq-Goodwill	-	-	-2.5	-4.0	-2.5
Increase-Industrial Property Right	-	-	0.0	0.0	-0.2
Acquis-Develop. Cost	-	-	-2.7	-0.7	-5.0
Cash Outflow-Derivative Transaction	-	-	-	-0.1	0.0
Acq Other Intang.	-	-	-6.4	-8.9	-57.6
Cash Outflow-Business Segment	-	-	-10.0	-	-
Current Finacial Instruments, Net	-8.0	42.4	-	-	-
Non-Current Financial Instrutments, Net	0.2	0.0	-	-	-
Current Loans, Net	-0.5	6.2	-	-	-
Non-Current Loans, Net	14.7	-30.9	-	-	-
Net Inc./Dec of Current Held to Maturity	1.3	-1.3	-	-	-
Net Inc./Dec of Held to Maturity Securit	-	-1.0	-	-	-
Disposal of Property, Plant and Equipmen	78.1	157.3	-	-	-
Purchase of Property, Plant and Equipmen	-163.4	-187.6	-	-	-
Disposal of Investment Properties	1.0	-	-	-	-
Disposal of Intangible Assets	1.6	0.4	-	-	-
Purchase of Intangible Assets	-32.2	-5.7	-	-	-
Cash Outflow from Merger	-216.9	-	-	-	-
Cash Inflows from Other Investing Activi	47.8	-41.6	-	-	-
Cash from Investing Activities	-335.0	-808.5	700.1	-501.9	-625.3
Increase-ST Borrowings	6,755.6	3,442.2	842.0	3,071.0	1,149.3
Increase-Bond	359.4	387.5	202.9	140.4	128.6
Increase-LT Security Deposit Received	-	-	-	2.5	9.2
Inc-LT Borrowings	56.8	625.4	188.3	206.6	2,839.9
Cash Inflow-Merger	-	-	-	2.7	0.2
Increase-Capital Participation	-	-	-	22.7	-
Exercise of Subscription Warrants	-	-	-	3.2	2.2
Capital Increase	-	-	-	-	74.8
Dec-ST Borrowings	-6,513.7	-3,138.8	-1,031.0	-2,461.8	-685.6
Decrease-LT Security Deposit	-	-	-	-3.6	-1.5
Dec-Curr LT Liabs	-130.6	-98.3	-160.2	-264.3	-112.9
Decrease-Current Portion of Bond	-97.5	-262.0	-	-	-
Redemption-Bond with Warrant	-	-	-	-0.6	-
Dec-LT Borrowings	-31.1	-240.9	-833.8	-5.1	-3,525.6
Acquisition-Treasury Stock	-	0.0	-6.7	0.0	-
Increase-Discount on Stock Issuance	-	-	-	-	0.0
Redemption-Redeemable Preferred Stocks	-	-	-	-261.9	-459.1
Dividends Paid	-33.6	-26.8	-18.9	-0.6	-2.1
Cash Inflow-Consol. Scope Change, FN	-	-	-2.5	4.5	18.9
Cash Flow from Assets Held for Sale	-78.9	-	-	-	-
Cash from Financing Activities	286.5	688.1	-820.0	455.7	-563.8
Foreign Exchange Effects	0.3	0.3	-	-	-
Net Change in Cash	214.3	336.6	134.2	233.0	-402.6
Net Cash - Beginning Balance	920.4	545.3	350.5	173.5	608.1
Net Cash - Ending Balance	1,134.7	881.9	484.7	406.5	205.5
Cash Interest Paid	125.7	88.4	-	-	-
Cash Taxes Paid	56.9	232.0	-	-	-

Financial Health

Financials in: USD (mil)

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

Key Indicators USD (mil)
Â	Quarter Ending 30-Jun-2012	Quarter Ending Yr Ago	Annual Year End 31-Dec-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	6,204.5	3.62%	24,854.0	13.96%	6.72%	11.50%
Research & Development1	-	-	0.0	-91.68%	-63.58%	-
Operating Income1	91.1	44.72%	312.3	30.73%	-6.18%	-2.23%
Income Available to Common Excl Extraord Items1	16.9	-57.45%	131.6	-19.58%	17.10%	-20.37%
Basic EPS Excl Extraord Items1	0.07	-57.45%	0.53	-19.58%	15.86%	-21.03%
Capital Expenditures2	83.3	64.17%	195.6	-3.09%	-13.53%	-9.72%
Cash from Operating Activities2	-273.9	-	262.5	-44.93%	-1.82%	4.84%
Free Cash Flow	-352.3	-	64.3	-75.66%	-	-
Total Assets3	9,912.0	13.83%	9,643.9	14.98%	7.07%	13.58%
Total Liabilities3	7,202.5	20.63%	6,839.0	20.91%	5.56%	11.32%
Total Long Term Debt3	1,290.8	-7.88%	1,560.1	17.21%	-0.94%	-4.63%
Employees3	-	-	4085	6.05%	18.76%	13.22%
Total Common Shares Outstanding3	248.2	0.00%	248.2	0.00%	1.05%	0.73%
1-ExchangeRate: KRW to USD Average for Period	1152.046336	Â	1107.891393	Â	Â	Â
2-ExchangeRate: KRW to USD Average for Period	1141.692062	Â	1107.891393	Â	Â	Â
3-ExchangeRate: KRW to USD Period End Date	1157.641477	Â	1152.000000	Â	Â	Â

Key Ratios
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Profitability
Gross Margin	6.86%	6.94%	8.15%	8.02%	8.78%
Operating Margin	1.26%	1.10%	1.58%	1.85%	2.11%
Pretax Margin	0.79%	0.91%	0.30%	0.60%	2.99%
Net Profit Margin	0.53%	0.75%	0.23%	0.40%	3.16%
Financial Strength
Current Ratio	0.92	0.87	0.92	0.77	0.79
Long Term Debt/Equity	0.56	0.49	0.28	0.79	1.00
Total Debt/Equity	1.07	0.93	0.53	1.38	1.48
Interest Coverage	1,361,390.36	-	-	-	-
Management Effectiveness
Return on Assets	1.36%	2.05%	0.59%	1.12%	9.01%
Return on Equity	4.61%	5.88%	1.88%	4.62%	40.80%
Efficiency
Receivables Turnover	13.67	14.37	14.69	15.22	12.27
Inventory Turnover	20.11	20.60	18.49	21.05	21.31
Asset Turnover	2.65	2.74	2.59	2.80	2.82

Market Valuation USD (mil)
P/E (TTM)	25.44	.	Enterprise Value2	4,543.2
Price/Sales (TTM)	0.09	.	Enterprise Value/Revenue (TTM)	0.19
Price/Book (MRQ)	0.83	.	Enterprise Value/EBITDA (TTM)	10.43
Market Cap as of 14-Sep-20121	2,277.3	.
1-ExchangeRate: KRW to USD on 14-Sep-2012	1128.526068
2-ExchangeRate: KRW to USD on 30-Jun-2012	1157.641477

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	0.92	0.87	0.92	0.77	0.79
Quick/Acid Test Ratio	0.63	0.61	0.62	0.47	0.53
Working Capital1	-389.9	-521.1	-239.9	-719.0	-787.2
Long Term Debt/Equity	0.56	0.49	0.28	0.79	1.00
Total Debt/Equity	1.07	0.93	0.53	1.38	1.48
Long Term Debt/Total Capital	0.27	0.25	0.18	0.33	0.40
Total Debt/Total Capital	0.52	0.48	0.35	0.58	0.60
Interest Coverage	1,361,390.36	-	-	-	-
Payout Ratio	25.54%	17.12%	59.49%	26.48%	0.00%
Effective Tax Rate	35.14%	17.88%	22.90%	33.17%	-6.94%
Total Capital1	5,797.5	5,342.0	4,035.1	4,456.0	4,335.1
Efficiency
Asset Turnover	2.65	2.74	2.59	2.80	2.82
Inventory Turnover	20.11	20.60	18.49	21.05	21.31
Days In Inventory	18.15	17.71	19.74	17.34	17.13
Receivables Turnover	13.67	14.37	14.69	15.22	12.27
Days Receivables Outstanding	26.71	25.41	24.85	23.98	29.75
Revenue/Employee2	5,851,262	5,526,871	9,151,689	7,373,466	8,943,225
Operating Income/Employee2	73,515	60,534	144,818	136,371	188,289
EBITDA/Employee2	93,244	81,137	227,380	205,916	282,401
Profitability
Gross Margin	6.86%	6.94%	8.15%	8.02%	8.78%
Operating Margin	1.26%	1.10%	1.58%	1.85%	2.11%
EBITDA Margin	1.59%	1.47%	2.48%	2.79%	3.16%
EBIT Margin	1.26%	1.10%	1.58%	1.85%	2.11%
Pretax Margin	0.79%	0.91%	0.30%	0.60%	2.99%
Net Profit Margin	0.53%	0.75%	0.23%	0.40%	3.16%
R&D Expense/Revenue	0.00%	0.00%	0.00%	0.00%	0.01%
COGS/Revenue	93.14%	93.06%	91.85%	91.98%	91.23%
SG&A Expense/Revenue	5.22%	5.46%	6.18%	5.80%	6.24%
Management Effectiveness
Return on Assets	1.36%	2.05%	0.59%	1.12%	9.01%
Return on Equity	4.61%	5.88%	1.88%	4.62%	40.80%
Valuation
Free Cash Flow/Share2	0.26	1.08	0.19	-0.09	1.15
Operating Cash Flow/Share 2	1.02	1.87	1.12	1.01	3.25
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)	25.45
Market Cap/Equity (MRQ)	0.82
Market Cap/Revenue (TTM)	0.09
Market Cap/EBIT (TTM)	7.09
Market Cap/EBITDA (TTM)	5.10
Enterprise Value/Earnings (TTM)	52.09
Enterprise Value/Equity (MRQ)	1.68
Enterprise Value/Revenue (TTM)	0.19
Enterprise Value/EBIT (TTM)	14.51
Enterprise Value/EBITDA (TTM)	10.43

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.96
UK Pound	1	Rs.87.10
Euro	1	Rs.70.03

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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