|
Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI WELDING
CO., LTD. |
|
|
|
|
|
|
Registered Office : |
16th Fl., Ilsong Bldg. 157-37, Samseong 1-dong, Gangnam-gu, Seoul,
Korea 135-880 |
|
|
|
|
|
|
Country : |
South Korea |
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Date of Incorporation : |
03.09.1975 |
|
|
|
|
|
|
Com. Reg. No.: |
214-81-24202 |
|
|
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
|
|
Line of Business : |
Manufacture of Other Fabricated and Processed Metal Products |
|
|
|
|
|
|
No. of Employees : |
714 |
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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 |
HYUNDAI WELDING
CO., LTD. (Korean Company
Name : “현대종합금속(주)”) |
|
Registered Address |
157-37, Samseong 1-dong, Gangnam-gu,
Seoul, Korea |
|
Building |
16th Fl., Ilsong Bldg. |
|
Zip Code |
135-880 |
|
Tel |
+82-2-6230-6010~2 |
|
Fax |
+82-2-598-6928 |
|
E-mail |
matthew@hyundaiwelding.com;grkim@hyundaiwelding.com |
|
Website |
www.hdweld.co.kr |
|
Trading Address |
16th Fl., Ilsong Bldg., 157-37, Samseong
1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-6230-6010~2 |
|
Fax |
+82-2-598-6928 |
|
Other Address-Icheon Factory |
9-2, Saeum-dong, Icheon-si, Gyeonggi-do,
Korea |
|
Tel |
+82-31-636-3100 |
|
Fax |
+82-31-636-3957 |
|
Other Address-Pohang Factory |
90-5, Jangheung-dong, Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-289-6214 |
|
Fax |
+82-54-286-6275 |
|
Other Address-Ulsan Office |
843-2, Hyomun-dong, Buk-gu, Ulsan, Korea |
|
Tel |
+82-52-276-1063 |
|
Other Address-Geoje Office |
1058-8, Mujeon-dong, Tongyeong-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-688-5812 |
|
Other Address-Daegu Office |
1st Fl., Samwon Bldg., 414-3,
Manchon-dong, Suseong-gu, Daegu, Korea |
|
Tel |
+82-53-751-7071 |
|
Other Address-Daejeon Branch |
254-23, Daehwa-dong, Daedeok-gu, Daejeon, Korea |
|
Tel |
+82-42-635-2240 |
|
Other Address-Gwangju Branch |
1588-1, Usan-dong,
Gwangsan-gu, Gwangju, Korea |
|
Tel |
+82-61-462-9984 |
|
Fax |
+82-61-462-9985 |
|
Other Address-Busan Office |
229, Bujeon-dong, Busanjin-gu, Busan,
Korea |
|
Tel |
+82-51-802-1124 |
|
Fax |
+82-51-802-4445 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
Main Business |
Welding Electrodes, Micro Plasma Welding Machines, Solid Wire, Welders |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/03/1975 |
The Subject owns
the premises of Pohang Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Welders(23171508) |
|
Sell |
Welding rods(23171512) |
|
Sell |
Welding wire(23171510) |
|
Name |
Kim Sang-Wook |
|
Address |
Suite 102-1701, 1607, Jangseong-dong,
Buk-gu, Pohang-si, Gyeongbuk, Korea |
|
Date of Birth |
11/13/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,000,000,000 |
||||||||||||
|
Employees |
714 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Woori Bank Kookmin Bank Shinhan Bank-Seocho Branch Korea Exchange Bank Korea Development Bank |
||||||||||||
|
Corporate Registered No. |
110111-0185193 |
||||||||||||
|
Business Registered No. |
214-81-24202 |
||||||||||||
|
Permit & Licenses |
02/1995 ISO 9002 by LRQA 12/16/1998 ISO 9001 01/09/2000 KS Mark Int’l Trade No.: 771535 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
09/03/1975 Incorporated as SEOHAN
DEVELOPMENT CO., LTD. 08/1976 Completed calcium carbide factory
in Danyang 01/1977 Completed electrode plant in Pohang 05/1978 Established new submerged wire
production facilities 09/1978 Established new solid wire
production facilities 09/1978 Established a technical tie with
Sweden ESAB Corporation and imported submerged arc welding flux production
technology 12/1980 Initiated submerged arc welding
flux production 01/1984 Produced low fume electrode for the
first time in Korea 02/1986 Certified by Japanese Industrial
Standard Marking Institute 01/1987 Changed a company name as HYUNDAI
WELDING CO., LTD. 09/1989 Initiated metal stamping business 10/1989 Established HYUNDAI WELDING JAPAN
CO., LTD in Tokyo 01/1994 Established HYUNDAI WELDING
(S'PORE) PTE., LTD. 02/1994 Established a technical tie with
OERLIKON Corporation in Switzerland and imported stainless electrode
production technology 02/1995 Obtained ISO 9002 certificate (LRQA
Certificate No. 941752) 03/1995 Established SUNGWOO PRECISION CO.,
LTD. 09/1995 Expanded electrode production
facilities in Pohang (3,000MT / Month) 09/1995 Expanded solid wire production
facilities in Pohang (3,000MT / Month) 04/1996 Expanded flux cored wire production
facilities in Pohang (3,000MT / Month) 06/1996 Established H.W.M.C. Malaysia SDN.
BHD. 12/1996 Established HYUNDAI WELDING
(Europe) GmbH 02/1997 Established HYUNDAI WELDING
PRODUCTS. INC(USA) 04/1997 Completed SUNGWOO PRECISION factory
in Echeon 09/1997 HYUNDAI WELDING COMPANY(Australia) 10/1997 HYUNDAI WELDING PRODUCTS S.A.(South
Africa) 12/1997 Established R&D Center in
Pohang 07/1999 Acknowledged Pohang R&D Center
(attached) by Korea Industrial Technology Association (No. 991626) 04/2001 Merged with SUNGWOO PRECISION CO.,
LTD. 08/2001 Acknowledged Echeon R&D Center
(attached) by Korea Industrial Technology Association (No. 20012522) 06/27/2002 Moved to the present HQ address
from 1424-2, Seocho-dong, Seocho-gu, Seoul, Korea |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Sang-Wook |
Male |
Korean |
09/01/2004 |
|
Director |
Mr. |
Chung Mong-Seok |
Male |
Korean |
03/27/1994 |
|
Director |
M/S. |
Ahn Jung-Hae |
Female |
Korean |
03/02/2001 |
|
Auditor |
Mr. |
Chung Eun-Sung |
Male |
Korean |
05/17/2006 |
|
Supervisor |
Mr. |
Baik Seung-Kyu |
Male |
Korean |
07/25/2005 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
545,268,226,871 |
610,639,932,648 |
26,301,083,161 |
|
|
2010 |
445,648,249,227 |
686,742,041,457 |
38,543,193,053 |
|
2009 |
421,937,456,557 |
460,915,154,484 |
11,701,234,546 |
|
2008 |
437,744,162,775 |
485,294,417,416 |
23,453,778,693 |
|
2007 |
285,857,919,177 |
539,400,902,009 |
6,278,432,406 |
|
2006 |
252,160,909,997 |
249,618,871,528 |
8,192,521,619 |
|
2005 |
210,033,997,791 |
215,391,401,107 |
7,982,015,743 |
|
2004 |
177,272,417,896 |
150,849,303,237 |
8,637,465,594 |
|
Authorized Capital(KRW) |
6,000,000,000 |
|
Paid-Up Capital(KRW) |
5,000,000,000 |
|
Total Issued Shares |
1,000,000 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
610,639,932,648 |
686,742,041,457 |
460,915,154,484 |
|
Current Assets |
248,710,196,330 |
194,713,870,032 |
167,609,914,719 |
|
-Quick Assets |
158,947,554,573 |
121,511,376,772 |
101,936,648,689 |
|
-Inventories |
89,762,641,757 |
73,202,493,260 |
65,673,266,030 |
|
Fixed Assets |
361,929,736,318 |
492,028,171,425 |
293,305,239,765 |
|
-Investment |
267,105,694,185 |
411,379,284,664 |
208,490,340,459 |
|
-Tangibles |
86,890,568,543 |
71,299,511,998 |
74,484,451,301 |
|
-Intangibles |
56,671,057 |
79,550,281 |
91,486,890 |
|
-Others |
7,876,802,533 |
9,269,824,482 |
10,238,961,115 |
|
Total Liabilities |
366,014,212,930 |
301,068,180,178 |
243,367,932,390 |
|
Current Liabilities |
281,045,036,915 |
217,556,753,883 |
192,050,303,705 |
|
Fixed Liabilities |
84,969,176,015 |
83,511,426,295 |
51,317,628,685 |
|
Capital Stock |
5,000,000,000 |
5,000,000,000 |
5,000,000,000 |
|
Capital Surplus |
21,040,769,949 |
21,040,769,949 |
21,040,769,949 |
|
Profit Surplus |
77,652,952,871 |
101,351,869,710 |
92,808,676,657 |
|
Capital Adjustment |
140,931,996,898 |
258,281,221,620 |
98,697,775,488 |
|
Total Equity |
244,625,719,718 |
385,673,861,279 |
217,547,222,094 |
|
Liab. & Shareholder’s Equity |
610,639,932,648 |
686,742,041,457 |
460,915,154,484 |
|
Current
Liabilities |
281,045,036,915 |
217,556,753,883 |
192,050,303,705 |
|
Trade Payables |
60,865,906,062 |
52,610,104,277 |
44,722,393,710 |
|
Short-Term Borrowings |
178,731,923,500 |
124,851,645,078 |
134,466,774,510 |
|
Current Portion of Long-Term Debts |
7,558,327,500 |
20,053,797,800 |
49,763,700 |
|
Account Payables |
13,767,160,881 |
6,620,877,005 |
8,480,053,178 |
|
Advance Receipts |
172,976,399 |
418,701,152 |
477,615,913 |
|
Withholdings |
1,233,793,431 |
1,179,557,577 |
1,266,796,027 |
|
Accrued Expenses |
4,244,402,437 |
2,391,181,382 |
2,161,476,288 |
|
Guarantee Deposit Withhold |
55,000,000 |
105,000,000 |
100,000,000 |
|
Accrued Income Tax |
14,415,546,705 |
9,325,889,612 |
325,430,379 |
|
Fixed
Liabilities |
84,969,176,015 |
83,511,426,295 |
51,317,628,685 |
|
Debentures |
20,000,000,000 |
5,000,000,000 |
- |
|
Long-Term Borrowings |
19,541,850,700 |
300,178,200 |
17,753,614,800 |
|
Provision for Severance & Retirement |
9,793,865,617 |
7,981,443,924 |
8,130,450,044 |
|
Long-Term
Account Payables |
207,638,710 |
108,000,000 |
- |
|
Deferred Income Tax Credit |
45,219,686,605 |
77,268,279,888 |
31,129,753,143 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
545,268,226,871 |
445,648,249,227 |
421,937,456,557 |
|
Cost of Sold Goods |
454,561,339,505 |
375,658,186,587 |
365,588,154,231 |
|
Gross Profit |
90,706,887,366 |
69,990,062,640 |
56,349,302,326 |
|
Selling & Admin. Expenses |
45,394,459,590 |
50,235,355,920 |
39,741,377,605 |
|
Operating Income |
45,312,427,776 |
19,754,706,720 |
16,607,924,721 |
|
Non-Operating Income |
21,887,636,657 |
47,687,429,729 |
19,740,267,288 |
|
Non-Operating Expenses |
22,002,985,942 |
16,434,719,588 |
20,386,638,828 |
|
Income Before Taxes |
45,197,078,491 |
51,007,416,861 |
15,961,553,181 |
|
Income Taxes Expenses |
18,895,995,330 |
12,464,223,808 |
4,260,318,635 |
|
Net Income |
26,301,083,161 |
38,543,193,053 |
11,701,234,546 |
|
Unit :
Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows
from Operating |
766,876,464 |
2,830,456,760 |
-177,207,880 |
|
-Net Income |
26,301,083,161 |
38,543,193,053 |
11,701,234,546 |
|
-Exp.
without Cash Outflow |
15,945,686,582 |
15,069,885,683 |
15,816,505,789 |
|
-Revenue
without Cash Inflows |
-7,229,793,544 |
-38,128,058,248 |
-6,198,479,147 |
|
-Changes in
Asset/ & Liability |
-34,250,099,735 |
-12,654,563,728 |
-21,496,469,068 |
|
Cash Flows
from Investing |
-24,119,948,233 |
33,816,022,295 |
-48,404,509,175 |
|
-Cash Inflow
from Investing |
3,465,862,629 |
75,708,027,523 |
2,479,571,837 |
|
-Cash
Outflows for Investing |
-27,585,810,862 |
-41,892,005,228 |
-50,884,081,012 |
|
Cash Flows
from Financing |
25,626,480,622 |
-32,064,531,932 |
43,373,888,510 |
|
-Cash
Inflows from Financing |
455,998,762,072 |
7,600,000,000 |
43,419,024,510 |
|
-Cash
Outflows from Financing |
-430,372,281,450 |
-39,664,531,932 |
-45,136,000 |
|
Increase/Decrease
in Cash |
2,273,408,853 |
4,581,947,123 |
-5,207,828,545 |
|
Cash at the
Beginning of Year |
25,746,300,811 |
21,164,353,688 |
26,372,182,233 |
|
Cash at the
End of Year |
28,019,709,664 |
25,746,300,811 |
21,164,353,688 |
|
Main Products & Services |
Welding Consumables -Covered Electrodes -Submerged Flux & Wire -Solid Wire -FCW -MIG/TIG Welding Machines -TIG DC ARC Air Plasma Cutter |
|
Competitors |
KISWEL CO., LTD. 721-3, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-317-3131~40 FAX:+82-51-325-3627 CHOSUN WELDING CO., LTD. 865, JANGHEUNG-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-285-8221 FAX:+82-54-285-8543 CHEGIM WELDING CO., LTD. 42-499, IHYEON-DONG, SEO-GU, DAEGU, KOREA TEL:+82-53-250-0600 FAX:+82-53-256-8117 |
(Subsidiaries, Joint-Venture
& Affiliates)
|
Affiliates |
POSCO(174611-0000741) POSCO SPECIALTY STEEL CO., LTD.(194211-0025248) |
|
Overseas Office |
NETHERLANDS HYUNDAI WELDING EUROPE, ROTTERDAM COLUMBUSSTRAAT 25 / HARBOUMO, 2769 3165 AC
ROTERDAM-ALBRANDSWAARD TEL:+31-10-4945788 FAX:+31-10-4945778 TURKEY HYUNDAI WELDING TURKEY, ISTANBUL SAHIL YOLU CADDESI DENIZCILER LS MERKEZI
NO. 25 /31/ TUZLA-ISTANBUL, TURKEY TEL:+90-216-494-4740 FAX:+90-216-493-5527 JAPAN(TOKYO) HYUNDAI WELDING JAPAN CO., LTD. (TOKYO) 8TH FL., YURAKUCHO DENKI BLDG., 1-7-1,
YURAKUCHO, CHITODA-KU, TOKYO, JAPAN TEL:+81-3-5220-3529 FAX:+81-3-5220-3549 CHINA(SHANGHAI) HYUNDAI WELDING CO., LTD.(SHANGHAI OFFICE) RM. D805, SHANGAHI EVERBRIGHT EXHIBITION
CENTER, CAO BAO ROAD, SHANGHAI, CHINA TEL:+86-021-6432-5920 FAX:+86-021-6408-2554 INDIA(MUMBAI) MUMBAI OFFICE 5/7, SAMARTH NAGAR, CHUNABHATTI(EAST),
MUMBAI-400 022 INDIA TEL:+91-98204-77953 VIETNAM HYUNDAI WELDING VIETNAM, HANOI RM. 103B, BLDG., 14-16, HAM LONG STREET
PHAN CHU TINH WARD, HOAN KIEM DISTRICT HANOI, VIETNAM TEL:+84-903-2919 FAX:+84-4-799-301 THAILAND HYUNDAI WELDING THAILAND, BANGKOK REGUS Q HOUSE LUMPINI CENTER, 1, SOUTH
SATHOM ROAD, 27/F., TUNGMAHAMEK, SATHORN, BANGKOK 10120 TEL:+66-934-3234 SINGAPORE HYUNDAI WELDING(S'PORE) PTE LTD. 21 JALAN BUROH #04-02 LOGISTICS 21,
SINGAPORE 619478 TEL:+65-6863-3218 FAX:+65-6863-3225 UNITED STATE HYUNDAI WELDING PRODUCTS 215, SATELLITE BOULEVARD SUITE 300,
ATALNTA, GA 30024 USA TEL:+1-770-614-7577 FAX:+1-770-614-6636 |
|
Subsidiary |
HYUNDAI WELDING(S'PORE) PTE LTD. (100.0% held by the subject company) HYUNDAI WELDING(MALAYSIA) PTE LTD. (100.0% held by the subject company) HYUNDAI WELDING PRODUCTS(USA) (100.0% held by the subject company) SUPERTECH METAL(KONSAN) CO., LTD.(CHINA) (100.0% held by the subject company) HYUNDAI WELDING JAPAN CO., LTD. (100.0% held by the subject company) HYUNDAIWELDING VINA CO., LTD. |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
(Activity & Markets)
The Subject exports
to Europe, Asia and North America.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.