MIRA INFORM REPORT

Report Date :

20.11.2012

IDENTIFICATION DETAILS

Name :	SAMSUNG FINE CHEMICALS CO., LTD.
Formerly Known As :	KOREA FERTILIZER & CHEMICALS CO., LTD.
Registered Office :	190, Yeocheon-dong, Nam-gu, Ulsan, Korea (P.O.BOX 3-Ulsan), Zip Code 680-090
Country :	South Korea
Financials (as on) :	30.06.2012
Date of Incorporation :	27.08.1964
Com. Reg. No.:	610-81-00029
Legal Form :	Listed Company
Line of Business :	Manufacturer of Nitrogenous, Phosphatic and Potassic Fertilizers
No. of Employees :	1067 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 :	Good
Payment Behaviour :	Regular
Litigation :	Exists

NOTES:

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

ECGC Country Risk Classification List – 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

Basic

Company Name	SAMSUNG FINE CHEMICALS CO., LTD. (Korean Company Name : “삼성정밀화학(주)”)
Registered Address	190, Yeocheon-dong, Nam-gu, Ulsan, Korea (P.O.BOX 3-Ulsan)
Zip Code	680-090
Tel	+82-52-270-6114
Fax	+82-52-272-7925
E-mail	7
Website	www.sfc.samsung.co.kr
Trading Address	25th Floor Samsung Electronics Bldg., 1320-10, Seocho-dong, Seocho-gu, Seoul, Korea (New Address System : 11, Seocho-daero 74-gil, Seocho-gu, Seoul, Korea)
Tel	+82-2-2255-0700
Fax	+82-2-2255-0710
Other Address-Incheon Factory	129-4L, Namdong Industrial Complex, 696-3, Gojan-dong, Namdong-gu, Incheon, Korea
Tel	+82-32-816-5981
Fax	+82-32-816-4501
Other Address-Busan Office	6th Fl., Samsung Fire & Marine Insurance Bldg., 1205-22, Choryang-dong, Dong-gu, Busan, Korea
Tel	+82-51-465- 6068
Fax	+82-51-465-6069
Other Address-R & D Center	103-1 Moonji-dong, Yoosung-gu, Daejun, Korea
Tel	+82-42-865-3701
Fax	+82-42-865-3715
Type	Export
Industry	Manufacture of Nitrogenous, Phosphatic and Potassic Fertilizers
Main Business	Urea, Melamine, Caustic Soda, Mecellose, DMF, ECH, PTAC, RTP
Sub Business	Manufacture of Other Basic Inorganic Chemicals
Established (mm/dd/yyyy)	08/27/1964

The Subject owns the premises of the Ulsan factory and others at size of 1,330,160㎡.

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Pigment paints(31211503)
Sell	Organic derivatives and substituted compounds(12352100)
Sell	Organic acids or its substitutes(12352106)
Sell	Amides or imides(12352111)
Sell	Amines or imines or its substitutes(12352116)
Sell	Detergent surfactants(12161902)
Sell	Epichlorohydrin ECO(13101714)
Sell	Melamine MF(13101905)
Sell	Inorganic metal salts(12352302)
Sell	Biochemicals(12352200)
Sell	Terpenoids(12352212)
Sell	Inorganic compounds(12352300)
Sell	Inorganic acids(12352301)
Sell	Inorganic metal salts(12352302)
Sell	Chemicals including Bio Chemicals and Gas Materials(12000000)
Sell	Natural antineoplastic products(51111900)
Sell	Ammonia(12142103)

CEO’s

Name	Sung In-Hee
Date of Birth	01/03/1957
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)

129,000,000,000

Employees

1,067

Formation

Listed Company (Korea Stock Exchange : 004000) as of 04/15/1976

A Company of Samsung Business Group

Bank Details

Woori Bank-Ulsan Branch

Kookmin Bank

Hana Bank

Korea Exchange Bank

Corporate Registered No.

181211-0000013

Business Registered No.

610-81-00029

Permit & Licenses

11/30/1996 ISO 9002

12/17/1997 ISO 14001

06/2002 KT (PTAC)

09/2002 KT (Any Coat, HGB)

10/2006 ISO 9001(All Factories)

10/2006 ISO 14001

12/2007 UL Mark (LCP KB40BM, M)

08/2008 UL Mark (LCP KC2015BLM,LM, KC173BM, M)

10/2008 ISO 9001:2000(All Factories)

09/2010 ISO 9001:2008

11/2011 ISO 9001:2008

11/2011 ISO 14001

Int’l Trade No.: 673059

Shareholder Position

Name	Shares	%
SAMSUNG SDI CO., LTD.(110111-0394174)	2,963,483	11.49
KOREA INVESTMENT TRUST MANAGEMENT CO., LTD.(110111-2006983)	2,358,257	9.14
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246)	2,164,970	8.39
NATIONAL PENSION SERVICE(110171-0007134)	1,567,082	6.07
SAMSUNG C&T CORPORATION(110111-0002975)	1,441,982	5.59
CHEIL INDUSTRIES INC(170111-0000076)	816,468	3.16
HOTEL SHILLA CO., LTD.(110111-0145519)	577,376	2.24
OTHERS	13,910,382	53.92
TOTAL	25,800,000	100.00

Company History

08/27/1964 Incorporated as FERTILIZER CO., LTD.

03/18/1992 Changed company name to KOREA FERTILIZER & CHEMICALS CO., LTD.

10/26/1994 Changed company name to the present name

Management

Job Description	Title	Name	Nationality	Date of Birth	Education
President & CEO	Mr.	Sung In-Hee	Korean	1957.01.03	Kyunghee University, Korea
Sr. Executive Director	Mr.	Lee Kil-Hwan	Korean	1954.08.13	Seoul National University, Korea
Sr. Executive Director	Mr.	Lee Hee-In	Korean	1958.02.05	Chungnam University, Korea
Outside Director	Mr.	Byun Dong-Gerl	Korean	1948.12.08	Seoul National University, Korea
Outside Director	Mr.	Lee Kyu-Cheol	Korean	1947.11.21.	Yonsei University, Korea
Auditor	Mr.	Choi Byung-Hoon	Korean	1953.12.13	Seoul National University, Korea

Financials

Year / Unit : KRW	Sales	Assets	Net Income
(*)06/2012	721,060,512,465	1,467,684,089,612	54,342,057,160
(*)2011	1,333,619,886,349	1,399,557,926,786	73,798,524,048
(*)2010	1,130,032,299,281	1,281,012,685,341	81,627,915,129
2009	1,038,396,078,452	1,025,139,330,933	86,673,424,830
2008	1,130,888,958,199	943,975,516,435	85,289,292,590
2007	829,349,707,184	847,464,265,524	40,081,155,099
2006	745,864,059,285	825,239,208,633	32,153,261,107
2005	791,040,210,653	838,896,173,776	50,282,439,244
2004	794,420,388,059	774,319,773,220	46,973,418,591

(*) Figures are based on the K-IFRS Accounting System.

Financial Description

Authorized Capital(KRW)	250,000,000,000
Paid-Up Capital(KRW)	129,000,000,000
Total Issued Shares	25,800,000

Balance Sheet
Unit : Korean Won	01/01/2012~06/30/2012	As of 12/31/2011	As of 12/31/2010
Total Assets	1,467,684,089,612	1,399,557,926,786	1,281,012,685,341
Current Assets	494,437,595,237	575,810,259,616	586,942,491,060
Cash & Cash Equivalents	60,021,810,267	127,679,396,432	85,459,254,009
Current Financial Instruments	0	30,885,000,000	130,000,000,000
Held-to-Maturity Financial Assets	19,245,000	32,310,000	15,935,000
Derivatives	13,170,035	325,549,893
Trade Receivables & Other Receivables	268,909,983,604	227,887,845,617	186,417,656,432
Other Current Assets	11,262,577,314	4,631,880,771	15,506,195,662
Inventories	154,210,809,017	184,368,276,903	169,543,449,957
Non-Current Assets to be Sold	3,341,622,318	3,341,622,318
Non-Current Assets	969,904,872,057	820,406,044,852	694,070,194,281
Non-Current Financial Instruments	33,902,644	33,902,644	33,902,644
Held-to-Maturity Financial Assets	384,220,000	384,890,000	342,570,000
Marketable Financial Instruments	251,958,810,581	240,440,912,581	249,906,162,370
Investment_Subsidiaries	16,756,980,000	16,756,980,000	2,256,980,000
Investment_Related Companies	94,030,394,708	64,030,394,708	44,029,564,124
Tangibles	582,169,040,122	472,047,752,557	358,552,775,016
Intangibles	19,176,025,049	21,302,382,303	34,793,576,398
Other Non-Current Assets	5,395,498,953	5,408,830,059	4,154,663,729
Total Liabilities	338,439,434,933	313,939,038,897	241,924,981,398
Current Liabilities	222,318,593,508	230,455,346,499	177,320,601,142
Trade Payables & Other Payables	171,836,548,729	175,300,988,458	132,682,142,444
Short-Term Borrowings	11,509,030,519	18,257,999,603	12,062,547,730
Derivatives	273,899,169	44,022,543	140,497,781
Accrued Income Tax	8,788,972,086	12,395,050,288	11,881,093,829
Other Current Liabilities	29,910,143,005	24,457,285,607	20,554,319,358
Non-Current Liabilities	116,120,841,425	83,483,692,398	64,604,380,256
Long-Term Borrowings	20,659,999,998
Confirmed Salaries	37,739,571,109	29,914,701,572	21,070,552,831
Deferred Income Tax Credit	47,690,717,357	44,721,978,672	37,734,568,986
Other Non-Current Liabilities	10,030,552,961	8,847,012,154	5,799,258,439
Capital Stock	129,000,000,000	129,000,000,000	129,000,000,000
Capital Surplus	331,106,186,274	331,165,053,929	331,422,338,062
Others	-8,953,367,706	-9,770,831,843	-11,075,551,592
Installments	121,322,527,031	112,591,960,347	122,765,335,720
Profit Surplus	556,769,309,080	522,632,705,456	466,975,581,753
Total Equity	1,129,244,654,679	1,085,618,887,889	1,039,087,703,943
Liab. & Shareholder’s Equity	1,467,684,089,612	1,399,557,926,786	1,281,012,685,341

Income Statement
Unit : Korean Won	01/01/2012~06/30/2012	As of 12/31/2011	As of 12/31/2010
Sales	721,060,512,465	1,333,619,886,349	1,130,032,299,281
Cost of Sold Goods	632,951,902,286	1,172,356,816,545	988,918,447,641
Gross Profit	88,108,610,179	161,263,069,804	141,113,851,640
Selling & Admin. Expenses	33,352,973,336	58,633,770,102	49,999,423,354
Logistics	14,843,485,708	25,199,778,810	30,460,023,533
Other Operating Income	26,745,218,521	48,602,224,414	54,103,164,950
Other Operating Expenses	8,614,016,173	39,607,916,744	20,321,583,038
Operating Income	58,043,353,483	86,423,828,562	94,435,986,665
Finance Income	1,970,227,422	5,356,225,738	6,925,134,233
Finance Expenses	365,998,980	777,165,996	450,009,301
Income Before Taxes	59,647,581,925	91,002,888,304	100,911,111,597
Income Taxes Expenses	5,305,524,765	17,204,364,256	19,283,196,468
Net Income	54,342,057,160	73,798,524,048	81,627,915,129

Cash Flows
Unit : Korean Won	01/01/2012~06/30/2012	As of 12/31/2011	As of 12/31/2010
Operating Activities Cash Flows	73,215,740,633	155,839,603,005	105,082,042,961
Cash Flows from Operating	66,866,920,181	141,886,296,376	95,160,671,899
Net Income	54,342,057,160	73,798,524,048	81,627,915,129
Adjustment	25,933,186,339	68,543,170,884	53,195,462,398
Changes in Asset/ & Liability	-13,408,323,318	-455,398,556	-39,662,705,628
Interests Received	2,430,523,706	6,204,294,654	6,278,840,952
Interests Paid	-207,098,890	-567,147,946	-449,742,789
Dividends Received	11,585,509,876	18,628,224,367	19,801,373,628
Income Taxes	-7,460,114,240	-10,312,064,446	-15,709,100,729
Cash Flows from Investing	-138,894,354,028	-104,137,959,833	-88,600,466,114
Cash Flows from Financing	-1,978,972,770	-9,481,500,749	-16,470,675,728
Increase/Decrease in Cash	-67,657,586,165	42,220,142,423	10,901,119
Cash at the Beginning of Year	127,679,396,432	85,459,254,009	85,448,352,890
Cash at the End of Year	60,021,810,267	127,679,396,432	85,459,254,009

Products, Technologies, Services Description

Main Products & Services

-Electronic Chemical Materials Electronic chemical materials have contributed to increasing sales and profits with the expansion of capacity and the extension of installations for TMAC, a raw material for semiconductor development and BTP, a core dielectric material used in MLCC. Barium Titanate Powder Tetramethylammonium chloride -Fine Chemicals As a core business sector of SFC, the fine chemicals area manufactures high value-added products, competitive both in local and overseas markets, such as Mecellose (cement additives), DMF (raw material for synthetic leader), ECH (raw material for epoxy resin), and DMAC (raw material for spandex). These products are used in a wide range of industries such as electrical machinery·electronics, construction and textiles. N,N-Dimethylacetamide N,N-Dimethylformamide Epichlorohydrin Mecellose Dimethylamine 3-Chloro-2-hydroxypropyltrimethylammonium chloride Monomethylamine Trimethylamine Trimethylamine-HCl AnyCoat-C AnyCoat-P -General Chemicals Starting with the manufacture of ammonia and urea fertilizer in 1967, SFC has continually introduced a plurality of the qualified materials such as ultra-pure carbon dioxide, hydrogen and carbonic acid gas products as well as melamine, and this has led it to take more than 50% of the Korean chemicals market. During the 1990's, SFC firmly established its foundation in fine chemicals and life science areas through the use of medium products and finished products in basic chemicals. Methaclean Ammonia, anhydrous Ammonium hydroxide Caustic soda Carbon tetrachloride Chloroform Formic acid Hydrochloric acid Methyl chloride Methylene chloride Methanol Melamine Methyl formate Sodium hypochlorite Urea for industrial Urea for agricultural

Trade Partners & Competitors

Suppliers	SK ENERGY CO., LTD.(110111-3710385)
Customers	NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (NACF)
Competitors	NAMHAE CHEMICAL CORPORATION (110111-0164717) HUCHEMSFINECHEMICALCORPORATION(110111-2611906) HANHWA CORPORATION (110111-0002959) DOW CHEMICAL BASF

Related Parties

(Subsidiaries, Joint-Venture & Affiliates) Affiliates-Domestic	SAMSUNG C&T CORPORATION 1321-20, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-2145-2114 FAX:+82-2-2145-3114 INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS SAMSUNG FINE CHEMICALS CO., LTD. 190, YEOCHEON-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-270-6114 FAX:+82-52-272-7925 INDUSTRY: MANUFACTURE OF NITROGENOUS, PHOSPHATIC AND POTASSIC FERTILIZERS SAMSUNG ELECTRO-MECHANICS CO., LTD. 314, MAETAN 3-DONG, YEONGTONG-GU, SUWON, KYONGGI-DO 443-743 KOREA TEL:+82-31-210-5114 FAX:+82-31-210-5087 INDUSTRY: MANUFACTURE OF COMPUTER OUTPUT/INPUT UNITS AND PERIPHERAL EQUIPMENT SAMSUNG SDI CO., LTD. 575, SIN-DONG, YEONGTONG-GU, SUWON, KYONGGI-DO 443-731 KOREA TEL:+82-31-210-7114 FAX:+82-31-210-7161 INDUSTRY: MANUFACTURE OF ELECTRONIC VALVES AND TUBES SAMSUNG TECHWIN CO., LTD. 28, SEONGJU-DONG, CHANGWON, GYEONGNAM-DO 641-120 KOREA TEL:+82-55-260-2114 FAX:+82-55-260-2230 INDUSTRY: MANUFACTURE OF ENGINES FOR AIRCRAFT SEOUL COMMTECH CO., LTD. 448-11, SEONGNAE 3-DONG, GANGDONG-GU, SEOUL 134-847 KOREA TEL:+82-2-2225-6550 FAX:+82-2-2225-6080 INDUSTRY: MANUFACTURE OF COMMUNICATION APPARATUSES WITHOUT ANY LINE CONNECTION AND RADIO OR TELEVISION BROADCASTING APPARATUSES SAMSUNG ECONOMIC RESEARCH INSTITUTE 8FL., KUKJE CENTER BLDG., 191, HANGANGNO 2-GA, YONGSAN-GU, SEOUL 140-702 KOREA TEL:+82-2-3780-8000 FAX:+82-2-3780-8005 INDUSTRY: RESEARCH AND EXPERIMENTAL DEVELOPMENT ON ECONOMICS SAMSUNG SDS CO., LTD. ILOK BLDG., 707-19, YEOKSAM 2-DONG, GANGNAM-GU, SEOUL 135-918 KOREA TEL:+82-2-3429-2174 FAX:+82-2-3429-2100 INDUSTRY: COMPUTER SYSTEM DESIGN AND CONSULTANCY SAMSUNG NETWORKS INC. 8 FL., ASEM TOWER, 159-1, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL 135-798 KOREA TEL:+82-2-2192-3114 FAX:+82-2-3415-6801 INDUSTRY: OTHER SOFTWARE CONSULTANCY AND SUPPLY
Affiliates-Domestic	SAMSUNG CORNING CO., LTD. 472, SIN-DONG, YEONGTONG-GU, SUWON, KYONGGI 443-732 KOREA TEL:+82-31-219-7114 FAX:+82-31-219-7010 INDUSTRY: MANUFACTURE OF LABORATORY AND OTHER INDUSTRIAL GLASSWARE SAMSUNG LIONS CO., LTD. 6, GOSEONG 3-GA, BUK-GU, DAEGU 702-073 KORE TEL:+82-53-859-3155 FAX:+82-53-859-3118 INDUSTRY: SPORTS TEAMS AND CLUBS MEMC KOREA COMPANY 27, OMOK-RI, SEONGGEO-EUP, CHEONAN-SI, CHUNGNAM-DO 330-831 KOREA TEL:+82-41-550-4114 FAX:+82-41-550-4498 INDUSTRY: MANUFACTURE OF DIODES, TRANSISTORS AND SIMILAR SEMI-CONDUCTOR DEVICES SAMSUNG CORNING PRECISION GLASS CO., LTD. 644-1, JINPYEONG-DONG, GUMI, GYEONGBUK-DO 730-360 KOREA TEL:+82-54-470-4114 FAX:+82-54-470-4381 INDUSTRY: MANUFACTURE OF LABORATORY AND OTHER INDUSTRIAL GLASSWARE SAMSUNG HEAVY INDUSTRIES CO., LTD. KIPS, 647-9, YEOKSAM-DONG, GANGNAM-GU, SEOUL 135-080 KOREA TEL:+82-2-3458-7000 FAX:+82-2-3458-7100 INDUSTRY: BUILDING OF STEEL SHIPS HOTEL SHILLA LTD. 202, JANGCHUNGDONG 2-GA, JUNG-GU, SEOUL 100-856 KOREA TEL:+82-2-2230-3226 FAX:+82-2-2230-3795 INDUSTRY: HOTELS CHEIL COMMUNICATIONS INC. 736-1, HANNAM-DONG, YONGSAN-GU, SEOUL 140-210 KOREA TEL:+82-2-3780-2114 FAX:+82-2-3780-2462 INDUSTRY: MEDIA ADVERTISING AGENCIES SAMSUNG PETROCHEMICAL CO., LTD. 500, BUGOK-DONG, NAM-GU, ULSAN 680-110 KOREA TEL:+82-52-278-6000 FAX:+82-52-273-9971 INDUSTRY: MANUFACTURE OF BASIC ORGANIC PETROCHEMICALS NOVITA CO., LTD. SAN 22, JAEUNGA-RI, JIKSAN-EUP, CHEONAN, CHUNGNAM-DO 330-815 KOREA TEL:+82-41-580-7728 FAX:+82-41-583-4320 INDUSTRY: MANUFACTURE OF OTHER DOMESTIC ELECTRIC APPLIANCES SAMSUNG GWANGJU ELECTRONICS CO., LTD. 271, OSEON-DONG, GWANGSAN-GU, GWANGJU 506-253 KOREA TEL:+82-62-950-6114 FAX:+82-62-950-6710 INDUSTRY: MANUFACTURE OF OTHER DOMESTIC ELECTRIC APPLIANCES
Affiliates-Domestic	SAMSUNG CARD CO., LTD. 2ND FL., EUNSEOK BLDG. WEST., 1-7, YEONJI-DONG, JONGNO-GU, SEOUL 110-754 KOREA TEL:+82-2-2172-8819 FAX:+82-2-2172-8023 INDUSTRY: CREDIT CARD AND INSTALLMENT FINANCE COMPANIES STECO LTD. 588, MYEONGHAK-RI, DONG-MYEON, YEONGI-GUN, CHUNGNAM-DO 339-863 KOREA TEL:+82-41-861-1823 FAX:+82-41-861-1896 INDUSTRY: MANUFACTURE OF DIODES, TRANSISTORS AND SIMILAR SEMI-CONDUCTOR DEVICES DNS KOREA CO., LTD. 623-5 EOPSEONG-DONG CHEONAN-SI CHUNGNAM-DO 330-290 KOREA TEL:+82-41-620-8000 SECRON CO., LTD. ADDRESS (330-200) 4-4, CHAAM-DONG, CHEONAN-SI, CHUNGNAM-DO 330-200 KOREA TEL:+82-41-620-5050 FAX:+82-41-620-5069 INDUSTRY: MANUFACTURE OF SEMICONDUCTOR- MAKING MACHINERY SAMSUNG ELECTRONICS SERVICE CO., LTD. SAMSUNG ELECTRONICS CS ACADEMY, 327, WONCHEON-DONG, YEONGTONG-GU, SUWON, KYONGGI 443-822 KOREA TEL:+82-31-270-2611 FAX:+82-31-270-2644 INDUSTRY: REPAIR SERVICES OF ELECTRICAL HOUSEHOLD MACHINERY AND APPLIANCES SAMSUNG THALES CO., LTD. 259, GONGDAN-DONG, GUMI, GYEONGBUK-DO 730-030 KOREA TEL:+82-54-460-8511 FAX:+82-54-460-8529 INDUSTRY: MANUFACTURE OF OTHER ELECTRONIC VALVES, TUBES AND ELECTRONIC COMPONENTS N.E.C. LIVING PLAZA CO., LTD. 261-1, SEOHYEON-DONG, BUNDANG-GU, SEONGNAM, KYONGGI 463-824 KOREA TEL:+82-2-3460-6770 FAX:+82-2-3460-6775 INDUSTRY: WHOLESALE OF HOUSEHOLD ELECTRIC APPLIANCES BLUE-TEK CO., LTD. 416, MAETAN 3-DONG, YEONGTONG-GU, SUWON, KYONGGI 443-803 KOREA TEL:+82-31-200-4140 FAX:+82-31-200-4112 INDUSTRY: WHOLESALE OF HOUSEHOLD ELECTRIC APPLIANCES SAMSUNG ELECTRONICS LOGITECH CO., LTD. 401, SIN-DONG, YEONGTONG-GU, SUWON, KYONGGI 443-390 KOREA TEL:+82-31-200-1800 FAX:+82-31-200-1822 INDUSTRY: ALL OTHER SUPPORTING TRANSPORT SERVICES N.E.C. SAMSUNG ELECTRONICS FOOTBALL CLUB CO., LTD.(135811-0160126) (*) As of 12/31/2008, this company has been included of an affiliated company of Samsung Electronics Co., Ltd.
Affiliates-Overseas	SAMSUNG JAPAN CO., LTD. SAMSUNG AMERICA INC. SAMSUNG FINANCE CORPORATION. SAMSUNG MEXICO ENGINEERING & CONSTRUCTION CANADA TRADE GROUP INC. FISHROUND, INC. ZIREX CORPORATION INC. SAMSUNG TEXAS CONSTRUCTION INC. SAMSUNG OIL & GAS USA CORP SAMSUNG DEUTSCHLAND GMBH SAMSUNG (U.K) LTD. SAMSUNG TRADING PLC. XIOD DISTRIBUTION SAMSUNG FRANCE S.A.S. SAMSUNG ENGINEERING & CONSTRUCTION (M) SDN.BHD. SAMSUNG MALAYSIA SDN. BHD. ERDSAM CO., LTD. SAMSUNG PETROLEUM SINGAPORE LTD. P.T. SAMSUNG DEVELOPMENT SAMSUNG DEVELOPMENT (THAILAND) CO., LTD. SAMSUNG THAILAND CO., LTD. CHEIL HOLDING INC. SAMSUNG CONST. CO. PHILS.,INC. SAMSUNG DESIGN PHILIPPINES INC SAMSUNG (AUSTRALIA) PTY., LTD. SAMSUNG OIL & GAS(TIMOR SEA 06-102) LTD. SAMSUNG (HONGKONG) LTD. S.S. TAIWAN CO., LTD. SAMSUNG E&C (SHANGHAI) CO.,LTD. DONGGUAN SAMSUNG STEEL CENTER CO., LTD. SAMSUNG NIGERIA CO., LTD. SAMSUNG ASIA PRIVATE LTD. SAMSUNG SDI AMERICA, INC. SAMSUNG SDI (MALAYSIA) SDN. BHD. SAMSUNG SDI (HONG KONG) LTD. SAMSUNG SDI BRASIL LTDA. ASSOCIATED WOOL EXPORTERS PTY., LTD. ESAMSUNG JAPAN CORPORATION. SAMSUNG FINANCE CORPORATION. SAMSUNG PACIFIC CONSTRUCTION INC. MEADOWLAND DISTRIBUTION SAMSUNG WEBTRADE.COM INC. ZIREX CORPORATION INC. WEB2ZONE., INC.
Affiliates-Overseas	SAMSUNG FOODS AUSTRALIA PTY. LTD. SAMSUNG ITALIA S.A.R.L. S.C. OTELINOX S.A XIOD DISTRIBUTION JSC RUSTONA SS KUKDONG JASATERA J/V SETIS CO., LTD SAMSUNG CONST. CO. PHILS.,INC. SAMSUNG THAILAND CO., LTD. KARSON INDUSTRIAL CO., LTD. ENTERPRISE CO., LTD. SAMSUNG (CHINA) LOGISTICS LTD. SAMSUNG CORPORATION (GAUNGZHOU) LIMITED. DONGGUAN SAMSUNG STEEL CENTER CO., LTD. SINO-SAMSUNG LOGISTICS CO., LTD SAMSUNG YOKOHAMA RESEARCH INSTITUTE SAMSUNG ELECTRONICS AMERICA INC. SAMSUNG ELECTRONICS CANADA INC. SAMSUNG ELECTRONICS MEXICO S.A. DE C.V. SAMSUNG ELECTRONICS (UK) LTD. SAMSUNG ELECTRONICS LTD. SAMSUNG ELECTRONICS HOLDING GMBH SAMSUNG ELECTRONICS IBERIA, S.A. SAMSUNG ELECTRONICS FRANCE S.A.S SAMSUNG ELECTRONICS HUNGARIAN RT. SAMSUNG ELECTRONICS ITALIA S.P.A. SAMSUNG ELECTRONICS EUROPE LOGISTICS B.V. SAMSUNG ELECTRONICS BENELUX B.V. SAMSUNG ELECTRONICS OVERSEAS B.V. SAMSUNG ELECTRONICS POLSKA, SP.ZO.O SAMSUNG ELECTRONICS PORTUGUESA S.A. SAMSUNG ELECTRONICS NORDIC AKTIEBOLAG SAMSUNG ELECTRONICS AUSTRIA GMBH SAMSUNG ELECTRONICS SLOVAKIA S.R.O SAMSUNG ELECTRONICS DISPLAY (M) SDN.OMD.(HSD) SAMSUNG ELECTRONICS MALAYSIA SDN.BHD. SAMSUNG VINA ELECTRONICS CO., LTD. SAMSUNG ASIA PRIVATE LTD. SAMSUNG INDIA ELECTRONICS PRIVATE. LTD SAMSUNG INDIA SOFTWARE OPERATIONS PVT. LTD. SAMSUNG TELECOMMUNICATIONS INDIA SAMSUNG ELECTRONICS AUSTRALIA PTY. LTD. SAMSUNG ELECTRO-MECHANICS INDONESIA, PT THAI-SAMSUNG ELECTRONICS CO. LTD. SAMSUNG ELECTRONIC PHILIPPINE MANUFACTURING CORP. SAMSUNG MALAYSIA ELECTRONICS (SME) SDN. BHD. SAMSUNG ELECTRONICS ASIA HOLDING PTE LTD SAMSUNG ELECTRONICS HONG KONG CO., LTD. SOUZHOU SAMSUNG ELECTRONICS CO., LTD SAMSUNG (CHINA) INVESTMENT CO., LTD
Affiliates-Overseas	SAMSUNG ELECTRONICS SOUZHOU SEMICONDUCTOR CO., LTD. SAMSUNG ELECTRONICS DIGITAL PRINTING SAMSUNG ELECTRONICS HUIZHOU CO., LTD. TIANJIN SAMSUNG ELECTRONICS CO., LTD. SAMSUNG ELECTRONICS TAIWAN CO., LTD. TIANJIN SAMSUNG ELECTRONICS DISPLAY CO., LTD. TIANJIN SAMSUNG TELECOM TECHNOLOGY CO., LTD. SHANGHAI SAMSUNG SEMICONDUCTOR CO., LTD. SAMSUNG ELECTRONICS SUZHOU COMPUTER CO.,LCD SAMSUNG ELECTRONICS SUZHOU LCD CO.,LCD SHENZHEN SAMSUNG KEJIAN MOBILE TELECOM. TECH. CO., LTD. SAMSUNG SEMICONDUCTOR CHINA R&D.,LTD. SAMSUNG ELECTRONICS HAINAN FIBEROPTICS CO., LTD HANGZHOU SAMSUNG EASTCOM NETWORK TECHNOLOGY CO., LTD. SAMSUNG GULF ELECTRONICS CO., LTD. SAMSUNG ELECTRONICS SOUTH AFRICA (PTY) LTD. SAMSUNG ELECTRONICS LATIN AMERICA PANAMA (ZONA LIBRE) S.A. SAMSUNG ELECTRONICA DA AMAZONIA LTDA. SAMSUNG ELECTRONICS ARGENTINA S.A. SAMSUNG ELECTRONICS CHILE LIMITADA(LTDA) SAMSUNG-CROSNA JOINT STOCK COMPANY SAMSUNG ELECTRONICS RUS CO. SAMSUNG RUSSIA SERVICE CENTER SAMSUNG SDI BRASIL LTDA. SEMES AMERICA,INC.(FORMER, KDNSA)
Affiliates-Overseas	SCOMMTECH JAPAN CO.LTD SAMSUNG TELECOMMUNICATIONS AUSTRALIA PTY LTD. SAMSUNG ELECTRONICS HUIZHOU CO., LTD. SAMSUNG RECEIVABLES CORPORATION SAMSUNG SEMICONDUCTOR INC. SAMSUNG INFORMATION SYSTEMS AMERICA INC. SAMSUNG INTERNATIONAL INC. SAMSUNG TELECOMMUNICATIONS AMERICA LIMITED LIABILITY COMPANY SAMSUNG AUSTIN SEMICONDUCTOR LLC. SAMSUNG RECEIVABLES CORPORATION SAMSUNG SEMICONDUCTOR INTERNATIONAL.INC. SAMSUNG SEMICONDUCTOR MEXICO, S.A.DE C.V. TASMAN PROPERTIES, INC. SAMSUNG AUSTIN SEMICONDUCTOR LLC. SAMSUNG MEXICANA S.A. DE C.V. SAMSUNG ELECTRONICS MANUFACTURING (U.K.) LTD. SAMSUNG TELECOMS (UK) LTD. SAMSUNG SEMICONDUCTOR EUROPE LIMITED SAMSUNG SEMICONDUCTOR EUROPE GMBH SAMSUNG ELECTRONICS GMBH SAMSUNG SEMICONDUCTOR FRANCE S.A.R.L SAMSUNG SEMICONDUCTOR ITALIA S.R.L SAMSUNG SEMICONDUCTOR SWEDEN AB SAMSUNG ELECTRONICS SLOVAKIA S.R.O SAMSUNG TELECOMMUNICATIONS BENELUX SAMSUNG ELECTRONICS RUS SAMSUNG ELECTRONICS UKRAINE SAMSUNG ELECTRONICS KAZAKHSTAN TIANJIN SAMSUNG ELECTRONICS DISPLAY CO., LTD. SAMSUNG ELECTRONICS DISPLAY (M) SDN.OMD.(HSD) SAMSUNG ELECTRONICS PHILIPPINES CORPORATION (FORMER, SMC) SAMSUNG SDI (MALAYSIA) SDN. BHD. SAMSUNG ELECTRO-MECHANICS THAILAND CO., LTD. ESAMSUNG ASIA (HOLDINGS) PTE LTD. ESAMSUNG GREATER CHINA CO., LTD. P.T. SAMSUNG TELECOMMUNICATIONS INDONESIA BATINO REALTY CORP.
Overseas Office	SHANGHAI OFFICE 200051P.R. CHINA, SHANGHAI, RM2309, BUILDING B, FAR EAST INTERNATIONAL PLAZA NO.317, XIANXIA RD. TEL : 86-21-62786797 FAX : 86-21-62084405
Subsidiary	HANTOK CHEMICALS CO., LTD.(110111-1144388) (50.0% held by the subject company) ASIAN ACETYLS CO., LTD(181211-0032545) (33.0% held by the subject company) SIGMA SAMSUNG COATINGS CO.,LTD.(230111-0102944) (40.0% held by the subject company)
Cooperative Enterprise	-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078)

Sales by Region

(Activity & Markets)

Sales/ Unit :Mil KRW	03/2012	2011	2010
Export	146,808	556,628	508,065
Domestic	210,936	776,992	622,579
Total	357,744	1,333,620	1,130,644

The Subject exports to Asia, North America and Europe.

Court Action

Case No.	Court	Plaintiff(s)/ Creditor(s)/ Applicant(s)	Defendant(s)/ Debtor(s)/ Respondent(s)	Cause	Amount (KRW)	Status
	Seoul Central District Court	Korea Agricultural Entrepreneurs Central Union	13 Companies including the subject company	Related on the appraisals from Fair Trade Commission	420,000,000	Proceeding

At 09/1999, all Samsung Affiliated companies have signed the agreement on the settlement of Samsung Motor Co., Ltd with the creditors of Samsung Motor Co., Ltd. As of 12/29/2005, regarding this agreement, the creditors of Samsung Motor Co., Ltd had filed on this case against the Group Chairman, Lee Gun-Hee, and other Samsung Affiliated companies including the Subject Company.

01/31/2008: In the 1^st round, the Subject & Other Samsung’s Affiliated Companies have been ordered to pay 1,633,800,000,000 KRW and also at the rate of 6.0% as the its interest since 01/01/2001.

01/11/2011: the Subject & Other Samsung’s Affiliated Companies are reached a verdict to pay 620,400,000,000 KRW, but they are applied for 3^rd round at Supreme Court, Korea.

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.97
UK Pound	1	Rs.87.50
Euro	1	Rs.70.16

INFORMATION DETAILS

Report Prepared by :

MNL

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.