|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOREA RAILROAD CORPORATION |
|
|
|
|
Registered Office : |
293-74, Soje-dong, Dong-gu, Daejeon, Korea, Korea Railroad Corp., Zip
Code 300-720 |
|
|
|
|
Country : |
South korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
31.12.2004 |
|
|
|
|
Com. Reg. No.: |
314-82-10024 |
|
|
|
|
Legal Form : |
Governmental Corporation |
|
|
|
|
Line of Business : |
Railway Transportation Services, Train
Maintenance, Train Leasing Services |
|
|
|
|
No. of Employees : |
29,148 |
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 : |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
KOREA RAILROAD
CORPORATION (Korean Company
Name : “한국철도공사”) |
|
Registered
Address |
293-74, Soje-dong, Dong-gu, Daejeon, Korea |
|
Building |
Korea Railroad Corp. |
|
Zip Code |
300-720 |
|
Tel |
+82-1544-7788 |
|
Fax |
+82-42-259-2197 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Korea Railroad, 293-74, Soje-dong,
Dong-gu, Daejeon, Korea (New Address System : 240, 240,
Jungang-ro, Dong-gu, Daejeon, Korea) |
|
Tel |
+82-1544-7788 |
|
Fax |
+82-42-259-2197 |
|
Other Address-Seoul Branch |
432, Cheongpa-ro, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3149-2224 |
|
Fax |
+82-2-3149-2860 |
|
Other Address-Dongbu Branch |
472, Hancheon-ro, Dongdaemun-gu, Seoul, Korea |
|
Tel |
+82-2-3299-7869 |
|
Fax |
+82-2-3299-7981 |
|
Other Address-Seobu Branch |
32-6, Yeongdeungpoyeok-gil, Yeongdeungpo-gu,
Seoul, Korea |
|
Tel |
+82-2-2639-3201 |
|
Fax |
+82-2-361-8410 |
|
Other Address-Gwangju Branch |
611, Jungheung 1-dong, Buk-gu, Gwangju, Korea |
|
Tel |
+82-62-605-2153 |
|
Fax |
+82-62-528-9168 |
|
Other Address-Busan Branch |
Korea Railroad Busan Office, 1187-1, Choryang 3-dong, Dong-gu, Busan,
Korea |
|
Tel |
+82-51-464-2150 |
|
Fax |
+82-51-466-8047 |
|
Type |
Services |
|
Industry |
Interurban Rail Transportation |
|
Main Business |
Railway Transportation Services, Train
Maintenance, Train Leasing Services |
|
Established
(mm/dd/yyyy) |
12/31/2004 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Railway Transportation Services |
|
Sell |
Train Maintenance |
|
Sell |
Train Leasing Services |
|
Name |
Chung Chang-Young |
|
Address |
Suite 33-1601, 32, Dasan-ro, Jung-gu, Seoul, Korea |
|
Date of Birth |
08/29/1954 |
|
Title |
President |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
9,576,562,811,563 |
|
Employees |
29,148 |
|
Formation |
Governmental Corporation |
|
Bank Details |
Woori Bank |
|
Corporate Registered No. |
160171-0004321 |
|
Business Registered No. |
314-82-10024 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The Republic of Korea has 100% shares. |
|
Company History |
12/31/2004 Incorporated as the present name 09/01/2009 Moved to the pres3nt HQ address
from 920, Dunsan-dong, Seo-gu, Daejeon, Korea |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President |
Mr. |
Chung Chang-Young |
Male |
Korean |
02/06/2012 |
|
Director |
Mr. |
Lee Geon-Tae |
Male |
Korean |
06/17/2010 |
|
Director |
Mr. |
Kim Young-Seob |
Male |
Korean |
02/10/2011 |
|
Director |
Mr. |
Kim Joo-Seob |
Male |
Korean |
02/10/2011 |
|
Director |
Mr. |
Han Myung-Cheol |
Male |
Korean |
02/10/2011 |
|
Director |
Mr. |
Shin Seung-Chang |
Male |
Korean |
04/18/2011 |
|
Director |
Mr. |
Kim Bok-Hwan |
Male |
Korean |
08/05/2011 |
|
Director |
Mr. |
Paeng Jung-Kwang |
Male |
Korean |
08/10/2011 |
|
Director |
Mr. |
Ham Dae-Young |
Male |
Korean |
10/25/2011 |
|
Director |
Mr. |
Kim Hee-Joong |
Male |
Korean |
02/06/2012 |
|
Director |
Mr. |
You Jae-Heung |
Male |
Korean |
02/06/2012 |
|
Director |
Mr. |
Chae Han-Cheol |
Male |
Korean |
04/16/2012 |
|
Director |
Mr. |
Kim Hyun-Cheol |
Male |
Korean |
08/16/2012 |
|
Auditor |
Mr. |
Sohn Chang-Wan |
Male |
Korean |
08/20/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
3,974,484,925,378 |
19,118,269,139,486 |
312,332,686,492 |
|
|
2010 |
3,666,038,215,024 |
18,210,321,190,487 |
411,697,934,101 |
|
2009 |
3,528,828,000,000 |
3,528,828,000,000 |
648,621,000,000 |
|
2008 |
3,631,442,000,000 |
3,631,442,000,000 |
514,007,000,000 |
|
2007 |
3,570,285,000,000 |
3,570,285,000,000 |
133,287,000,000 |
|
2006 |
3,530,207,000,000 |
3,530,207,000,000 |
-525,976,000,000 |
|
Authorized Capital(KRW) |
22,000,000,000,000 |
|
Paid-Up Capital(KRW) |
9,576,562,811,563 |
|
Total Issues Shares |
N/A |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
19,118,269,139,486 |
18,210,321,190,487 |
|
|
Current Assets |
1,063,768,239,926 |
1,775,983,355,077 |
|
|
Cash & Cash
Equivalents |
141,950,710,717 |
389,077,107,985 |
|
|
Current Financial
Instruments |
78,791,426,747 |
102,672,758,178 |
|
|
Trade Receivables
& Other Receivables |
256,767,414,245 |
736,384,847,881 |
|
|
Inventories |
281,343,974,784 |
249,423,681,461 |
|
|
Current Non-Financial
Instruments |
296,673,434,158 |
105,542,196,819 |
|
|
Assets to be Sold |
8,241,279,275 |
192,882,762,753 |
|
|
Non-Current Assets |
18,054,500,899,560 |
16,434,337,835,410 |
|
|
Non-Current Financial
Instruments |
797,667,590,045 |
177,465,889,103 |
|
|
Long-Term Trade
Receivables & Other Receivables |
5,183,721,898,750 |
3,779,342,225,023 |
|
|
Tangibles |
10,768,946,170,863 |
10,553,584,806,885 |
|
|
Investment_Real
Estates |
380,983,101,396 |
331,124,170,684 |
|
|
Intangibles |
39,238,517,874 |
34,329,290,575 |
|
|
Investment_Subsidiaries |
691,211,824,224 |
1,278,179,824,224 |
|
|
Investment_Related
Companies |
179,715,313,328 |
179,401,369,093 |
|
|
Deferred Income Tax
Assets |
|
87,554,602,219 |
|
|
Non-Current
Non-Financial Instruments |
13,016,483,080 |
13,355,657,604 |
|
|
Total
Liabilities |
10,806,810,480,467 |
10,134,638,462,644 |
|
|
Current Liabilities |
2,507,507,896,255 |
2,377,465,486,731 |
|
|
Trade Payables &
Other Payables |
648,579,487,389 |
681,177,406,383 |
|
|
Current Financial
Debts |
1,243,381,957,478 |
1,172,653,367,455 |
|
|
Deferred Income Tax
Credit |
215,950,063,064 |
196,419,650,129 |
|
|
Current Non-Financial
Debts |
399,596,388,324 |
327,215,062,764 |
|
|
Non-Current Liabilities |
8,299,302,584,212 |
7,757,172,975,913 |
|
|
Long-Term Trade
Payables & Other Payables |
1,891,197,744 |
1,888,332,324 |
|
|
Non-Current Financial
Debts |
7,563,223,519,639 |
7,122,495,212,908 |
|
|
Non-Current
Non-Financial Debts |
17,802,962,828 |
15,379,469,665 |
|
|
Confirmed Salaries |
643,025,720,801 |
568,390,706,895 |
|
|
Non-Current
Provisions |
73,359,183,200 |
49,019,254,121 |
|
|
Capital Stock |
9,576,562,811,563 |
9,575,110,811,563 |
|
|
Profit Surplus |
-1,290,175,735,893 |
-1,522,230,643,810 |
|
|
Others |
25,071,583,349 |
22,802,560,090 |
|
|
Total Equity |
8,311,458,659,019 |
8,075,682,727,843 |
|
|
Liab. &
Shareholder’s Equity |
19,118,269,139,486 |
18,210,321,190,487 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
3,974,484,925,378 |
3,666,038,215,024 |
|
|
Cost of Sold Goods |
4,320,295,795,111 |
4,091,543,210,861 |
|
|
Gross Profit |
-345,810,869,733 |
-425,504,995,837 |
|
|
Other Income |
7,730,629,750 |
34,171,409,530 |
|
|
Selling & Admin.
Expenses |
176,594,678,944 |
164,086,076,107 |
|
|
Other Expenses |
61,056,480,309 |
37,237,445,938 |
|
|
Other Profits |
1,317,898,256,385 |
1,461,926,973,991 |
|
|
Operating Income |
742,166,857,149 |
869,269,865,639 |
|
|
Finance Income |
355,068,715,194 |
254,081,327,169 |
|
|
Finance Expenses |
463,033,168,270 |
489,845,724,077 |
|
|
Profits from Disposal
of Invested Equity on Related Companies |
313,944,235 |
-3,836,014,744 |
|
|
Income Before Taxes |
634,516,348,308 |
629,669,453,987 |
|
|
Income Taxes Expenses |
322,183,661,816 |
217,971,519,886 |
|
|
Net Income |
312,332,686,492 |
411,697,934,101 |
|
|
Main Products & Services |
Railway Transportation Services, Train Maintenance,
Train Leasing Services |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
KORAIL RETAIL CO., ,LTD.(110111-3125500) KORAIL NETWORKS CO., LTD.(110111-3088344) KORAIL LOGIS CO., LTD.(135211-0013400) KORAIL TECH CO., LTD.(160111-0182397) KORAIL TOURISM DEVELOPMENT CO., LTD.(110111-3068601) KIB CO., LTD.(110111-3297870) |
(Activity & Markets)
Not Available.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Thousand KRW) |
Status |
|
|
Daegu District Court |
Korea Rail Network Authority |
The Subject Company |
Cancellation on Imposed Compensation |
1,123,459 |
Partially the subject has been defeated.. |
|
|
Daegu District Court |
Surprime Florence |
The Subject Company |
Claim for Compensation from Damages |
1,209,924 |
The Subject has been defeated. |
|
|
Supreme Court |
Oh Mi-Sun & Others(33) |
The Subject Company |
Confirmation on the position of Employees |
2,390,880 |
The Subject has been defeated. |
|
|
Seoul Central District Court |
Lim Jong-Min & Others(4) |
The Subject Company |
Cancellation of Firing |
656,799 |
Partially the subject has been defeated.. |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.