|
Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HWAJIN INDUSTRIAL CO., LTD. |
|
|
|
|
Formerly Known As : |
Hwajin Industrial
Co.(Sole Proprietorship) |
|
|
|
|
Registered Office : |
130-1, Yeowol-dong, Ojeong-gu, Bucheon-si, Gyeonggi-do, Korea, Zip Code 421-813 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.12.1993 |
|
|
|
|
Com. Reg. No.: |
130-81-35925 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of Containers Cleaning, Packing and Wraping Machinery and
Charger |
|
|
|
|
No. of Employees : |
17 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
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Litigation : |
--- |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 is
currently the world's 12th largest economy. 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. Korea''s export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 the economy
experienced sluggish growth because of market slowdowns in the United States,
China, and the Eurozone. The incoming administration in 2013, following the
December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors, such
as services. 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 |
HWAJIN
INDUSTRIAL CO., LTD. (Korean Company Name : “화진산업(주)’) |
|
Registered Address |
130-1, Yeowol-dong, Ojeong-gu, Bucheon-si, Gyeonggi-do, Korea |
|
Zip Code |
421-813 |
|
Tel |
+82-32-677-2460~2 |
|
Fax |
+82-32-677-2463 |
|
E-mail |
|
|
Website |
hwajin.koreasme.com |
|
Trading
Address |
130-1, Yeowol-dong, Ojeong-gu, Bucheon-si,
Gyeonggi-do, Korea (New Address System : 289, Wonmi-ro, Ojeong-gu, Bucheon-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-32-677-2460~2 |
|
Fax |
+82-32-677-2463 |
|
Type |
Export |
|
Industry |
Manufacture
of Containers Cleaning, Packing and Wraping Machinery and Charger |
|
Main Business |
Automatic
Chopstick Packing Machine, Automatic Vinyl Packing Machine, Distillate
Incinerator, Automatic Match Making Machine |
|
Established (mm/dd/yyyy) |
12/18/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Wrapping machinery(23152901) |
|
Sell |
Incinerators(47101529) |
|
Sell |
Packaging materials(24120000) |
|
Sell |
Web handling and control machinery and equipment
and supplies(23152000) |
|
Sell |
Domestic disposable flatware(52151503) |
|
Sell |
Incinerators(47101529) |
|
Sell |
Space environmental control systems(25172702) |
|
Sell |
Crushers and breakers and grinders(20101700) |
|
Sell |
Domestic trash compactors(52141515) |
|
Buy |
Iron(11101713) |
|
Buy |
Printing and writing paper(14111500) |
|
Buy |
Biaxially orientated polypropylene(13111212) |
|
Name |
Kim
Yong-Sung |
|
Address |
133-5, Yeowol-dong, Ojeong-gu, Bucheon-si,
Gyeonggi-do, Korea |
|
Date of Birth |
07/12/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
800,000,000 |
|||||||||||||||||||||
|
Employees |
17 |
|||||||||||||||||||||
|
Formation |
Co.,
Ltd by Shares |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Oryu Dong Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
124311-0040967 |
|||||||||||||||||||||
|
Business Registered No. |
130-81-35925 |
|||||||||||||||||||||
|
Permit & Licenses |
12/16/1998 ISO 9001 Int’l
Trade No.: 221700 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
03/1972 Established as HANKUK KIGONGSA
CO.(Sole Proprietorship) 04/30/1980 Changed company name to Hwajin
Industrial Co.(Sole Proprietorship) 12/18/1993 Incorporated as the present name 03/2000 Designated as a Venture Business 11/2007 Awarded US$ 3 Million Export top
Prize 05/30/2011 Designated as a Venture Business
again |
|||||||||||||||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Yong-Sung |
Male |
Korean |
07/16/1998 |
|
Director |
M/S. |
You Choon-Ja |
Female |
Korean |
07/16/2001 |
|
Director |
M/S. |
Kim Sun-Hwa |
Female |
Korean |
07/16/2004 |
|
Auditor |
M/S. |
Kim Seo-Kyung |
Female |
Korean |
03/31/2001 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2,679,000,000 |
3,632,000,000 |
174,000,000 |
|
|
2011 |
2,284,000,000 |
3,844,000,000 |
66,000,000 |
|
2010 |
2,016,810,000 |
3,808,000,000 |
48,870,000 |
|
2009 |
2,167,480,000 |
|
49,560,000 |
|
2008 |
3,548,060,000 |
|
64,250,000 |
|
2007 |
3,649,670,000 |
|
78,880,000 |
|
2006 |
2,443,000,000 |
|
|
|
Authorized Capital(KRW) |
3,200,000,000 |
|
Paid-Up Capital(KRW) |
800,000,000 |
|
Total Issued Shares |
160,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
3,632,000,000 |
3,844,000,000 |
3,808,000,000 |
|
Current Assets |
1,766,000,000 |
1,697,000,000 |
1,848,000,000 |
|
-Quick
Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed
Assets |
1,866,000,000 |
2,147,000,000 |
1,960,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
2,121,000,000 |
2,500,000,000 |
2,511,000,000 |
|
Current Liabilities |
514,000,000 |
951,000,000 |
1,207,000,000 |
|
Fixed Liabilities |
1,607,000,000 |
1,549,000,000 |
1,304,000,000 |
|
Capital Stock |
800,000,000 |
800,000,000 |
800,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
1,512,000,000 |
1,344,000,000 |
1,297,000,000 |
|
Liab. & Shareholder’s Equity |
3,633,000,000 |
3,844,000,000 |
3,808,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
2,679,000,000 |
2,284,000,000 |
2,017,000,000 |
|
Cost of Sold Goods |
2,241,000,000 |
1,500,000,000 |
1,425,000,000 |
|
Gross Profit |
438,000,000 |
784,000,000 |
592,000,000 |
|
Selling & Admin. Expenses |
803,000,000 |
575,000,000 |
430,000,000 |
|
Operating Income |
-365,000,000 |
209,000,000 |
162,000,000 |
|
Non-Operating Income |
675,000,000 |
4,000,000 |
19,000,000 |
|
Non-Operating Expenses |
132,000,000 |
143,000,000 |
127,000,000 |
|
Income Before Taxes |
178,000,000 |
69,000,000 |
54,000,000 |
|
Income Taxes Expenses |
4,000,000 |
3,000,000 |
5,000,000 |
|
Net Income |
174,000,000 |
66,000,000 |
49,000,000 |
|
Main Products & Services |
Automatic
Chopstick Packing Machine, Automatic Vinyl Packing Machine, Distillate
Incinerator, Automatic Match Making Machine |
|
Competitors |
SAMSUNG PACKAGE CO. 115-5, BUGOK-DONG, SANGNOK-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-459-0452~3 FAX:+82-31-414-0454 SAMBO TECH CORP. 462-1, CHOWONJI-RI, DAEGOT-MYEON, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-997-7797~8 FAX:+82-31-997-8871~2 COUNTEC CO., LTD. 281-31, DODANG-DONG, WONMI-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-32-674-9323 FAX:+82-32-674-9322 |
(Activity & Markets)
The Subject exports
to Japan and USA.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
UK Pound |
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
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.