|
Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KC CORPORATION |
|
|
|
|
Registered Office : |
85, Sandanseobu-ro, Samho-eup, Yeongam-gun, Jeollanam-do |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.03.2001 |
|
|
|
|
Com. Reg. No.: |
411-81-27760 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Other Basic Inorganic Chemicals |
|
|
|
|
No. of Employees : |
209 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
Basic
|
Company Name |
KC CORPORATION |
|
Registered Address |
1696-1, Nanjeon-ri, Samho-eup, Yeongam-gun, Jeollanam-do, Korea (New Address System : 85, Sandanseobu-ro, Samho-eup, Yeongam-gun,
Jeollanam-do, Korea) |
|
Zip Code |
526-892 |
|
Tel |
+82-61-460-7114 |
|
Fax |
+82-61-460-7021 |
|
E-mail |
webmaster@kccorp.co.kr |
|
Website |
www.kccorp.co.kr |
|
Trading Address |
14th Fl., Sinhwa Bldg., 34-1, Mapo-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-70-7015-1079~1080 |
|
Fax |
+82-2-6358-2587 |
|
Other Address-Pohang Banch |
107, Dongmun-ro, Yeonil-eup, Nam-gu, Pohang-si, Gyeongsangbuk-do,
Korea |
|
Other Address-Incheon Branch |
4, Sinpo-ro, Jung-gu, Incheon, Korea |
|
Other Address |
134-7, Bonghwangnonggongdanji-gil,
Bonghwang-myeon, Naju-si, Jeollanam-do, Korea |
|
Type |
Export |
|
Industry |
Manufacture of Other Basic Inorganic Chemicals |
|
Main Business |
Aluminum Hydroxide, Calcined Alumina, Fused Alumina |
|
Established (mm/dd/yyyy) |
03/29/2001 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminium hydroxide(51171511) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Base Metals(11101700) |
|
Buy |
Minerals(11101500) |
CEO’s
|
Name |
Park Ju-Jung |
|
Address |
519-1, Ongnyeon-dong, Yeonsu-gu, Incheon,
Korea |
|
Date of Birth |
10/01/1969 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,510,200,000 |
||||||||||||
|
Employees |
209 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Korea Exchange Bank Hana Bank Shinhan Bank Woori Bank Industrial Bank of Korea |
||||||||||||
|
Corporate Registered No. |
205411-0006068 |
||||||||||||
|
Business Registered No. |
411-81-27760 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No. : 11922650 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
03/29/2001 Incorporated as Korea Chemical
Corporation 01/28/2003 Changed company name to the
present name 06/12/2003 Increased capital to
5,510,200,000 KRW from 122,200,000 KRW 11/23/2004 Designated as a Venture Business 11/2004 Awarded US$ 30 Million Export Top
Prize 05/24/2006 Designated as a Venture Business
again |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Ju-Jung |
Male |
Korean |
06/17/2011 |
|
Director |
Mr. |
Park Ju-Bong |
Male |
Korean |
03/31/2004 |
|
Director |
Mr. |
Sun Jong-Ryul |
Male |
Korean |
03/31/2004 |
|
Auditor |
Mr. |
Kim Chang-Hern |
Male |
Korean |
03/30/2007 |
|
Supervisor |
Mr. |
Oh Myung-Jong |
Male |
Korean |
06/08/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2012 |
130,815,605,269 |
204,365,825,757 |
2,849,697,150 |
|
2011 |
123,945,111,822 |
190,128,157,004 |
2,301,775,934 |
|
2010 |
112,439,301,700 |
176,762,831,329 |
1,971,177,006 |
Financial
Description
|
Authorized Capital(KRW) |
12,080,000,000 |
|
Paid-Up Capital(KRW) |
5,510,200,000 |
|
Total Issued Shares |
1,102,040 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
204,365,825,757 |
190,128,157,004 |
176,762,831,329 |
|
Current Assets |
96,117,447,468 |
82,058,150,235 |
80,966,240,719 |
|
-Quick Assets |
64,505,537,097 |
54,866,088,209 |
53,018,034,355 |
|
-Inventories |
31,611,910,371 |
27,192,062,026 |
27,948,206,364 |
|
Fixed Assets |
108,248,378,289 |
108,070,006,769 |
95,796,590,610 |
|
-Investment |
27,269,914,136 |
22,677,672,535 |
21,101,596,590 |
|
-Tangibles |
79,596,310,803 |
83,981,625,654 |
73,366,062,620 |
|
-Intangibles |
1,382,153,350 |
1,410,708,580 |
1,328,931,400 |
|
Total Liabilities |
129,417,225,211 |
117,591,838,957 |
108,133,674,039 |
|
Current Liabilities |
117,598,149,339 |
101,339,989,270 |
95,358,659,148 |
|
Fixed Liabilities |
11,819,075,872 |
16,251,849,687 |
12,775,014,891 |
|
Capital Stock |
5,510,200,000 |
5,510,200,000 |
5,510,200,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
39,648,803,976 |
37,195,654,660 |
33,456,150,334 |
|
Capital Adjustment |
29,789,596,570 |
29,830,463,387 |
29,662,806,956 |
|
Total Equity |
74,948,600,546 |
72,536,318,047 |
68,629,157,290 |
|
Liab. & Shareholder’s Equity |
204,365,825,757 |
190,128,157,004 |
176,762,831,329 |
|
Current Liabilities |
117,598,149,339 |
101,339,989,270 |
95,358,659,148 |
|
Trade Payables |
7,490,540,062 |
11,952,721,053 |
6,107,264,494 |
|
Account Payables |
4,923,563,203 |
4,692,821,629 |
2,024,813,574 |
|
Accrued Expenses |
1,809,950,333 |
1,478,899,509 |
1,463,996,916 |
|
Deferred Income Tax Credit |
339,844,313 |
- |
|
|
Short-Term Borrowings |
93,982,483,685 |
69,164,720,106 |
61,884,445,751 |
|
Debentures |
5,000,000,000 |
7,000,000,000 |
8,200,000,000 |
|
Advance Receipts |
47,945,473 |
4,396,455 |
283,354,718 |
|
Withholdings |
169,581,851 |
155,383,281 |
211,597,832 |
|
Leasehold Deposit Received |
317,150,000 |
329,150,000 |
132,150,000 |
|
Current Portion of Long-Term Debts |
336,800,000 |
1,157,921,398 |
10,068,570,000 |
|
Unearned Income |
1,627,397 |
1,633,605 |
1,257,647 |
|
Provision for Wastes |
2,297,442,000 |
4,456,069,041 |
4,049,281,579 |
|
Other Current Liabilities |
882,061,164 |
949,753,656 |
937,895,118 |
|
Fixed Liabilities |
11,819,075,872 |
16,251,849,687 |
12,775,014,891 |
|
Long-Term Account Payables |
2,819,927,000 |
5,183,927,000 |
- |
|
Long-Term Borrowings |
968,400,000 |
2,645,300,000 |
3,803,221,398 |
|
Provision for Severance & Retirement |
2,569,257,420 |
2,092,643,260 |
2,795,383,260 |
|
National Subsidies |
599,070,400 |
303,276,400 |
344,000,000 |
|
Non-Current Portion of Deferred Income Tax Credit |
7,431,678,472 |
8,119,346,287 |
8,242,951,585 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
130,815,605,269 |
123,945,111,822 |
112,439,301,700 |
|
Cost of Sold Goods |
113,423,178,216 |
107,961,647,238 |
97,915,831,642 |
|
Gross Profit |
17,392,427,053 |
15,983,464,584 |
14,523,470,058 |
|
Selling & Admin. Expenses |
10,283,816,465 |
10,120,703,590 |
9,324,248,781 |
|
Operating Income |
7,108,610,588 |
5,862,760,994 |
5,199,221,277 |
|
Non-Operating Income |
6,120,202,163 |
4,516,214,891 |
3,962,699,846 |
|
Non-Operating Expenses |
9,891,629,507 |
8,211,250,360 |
6,735,619,649 |
|
Income Before Taxes |
3,337,183,244 |
2,167,725,525 |
2,426,301,474 |
|
Income Taxes Expenses |
487,486,094 |
-134,050,409 |
455,124,468 |
|
Net Income |
2,849,697,150 |
2,301,775,934 |
1,971,177,006 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-2,945,852,949 |
17,142,788,908 |
-20,799,687,266 |
|
-Net Income |
2,849,697,150 |
2,301,775,934 |
1,971,177,006 |
|
-Exp. without Cash Outflow |
7,564,151,011 |
5,476,426,016 |
5,366,219,575 |
|
-Revenue without Cash Inflows |
-3,479,772,568 |
-1,123,889,277 |
-845,346,039 |
|
-Changes in Asset/ & Liability |
-9,879,928,542 |
10,488,476,235 |
-27,291,737,808 |
|
Cash Flows from Investing |
-3,011,888,604 |
-7,411,500,725 |
-14,944,629,938 |
|
-Cash Inflow from Investing |
10,132,071,359 |
16,698,781,246 |
9,817,191,297 |
|
-Cash Outflows for Investing |
-13,143,959,963 |
-24,110,281,971 |
-24,761,821,235 |
|
Cash Flows from Financing |
21,957,040,026 |
-4,645,394,733 |
31,080,626,939 |
|
-Cash Inflows from Financing |
148,831,452,910 |
27,060,458,012 |
43,571,307,273 |
|
-Cash Outflows from Financing |
-126,874,412,884 |
-31,705,852,745 |
-12,490,680,334 |
|
Increase/Decrease in Cash |
15,999,298,473 |
5,085,893,450 |
-4,663,690,265 |
|
Cash at the Beginning of Year |
9,942,048,275 |
4,856,154,825 |
9,519,845,090 |
|
Cash at the End of Year |
25,941,346,748 |
9,942,048,275 |
4,856,154,825 |
Products,
Technologies, Services Description
|
Main Products & Services |
Aluminum Hydroxide, Calcined Alumina, Fused Alumina |
Trade Partners
& Competitors
|
Competitors |
SAM WHA FINE CHEMICAL CO., LTD. 150-68, GAJWA 1-DONG, SEO-GU, INCHEON,
KOREA TEL:+82-32-578-9838 FAX:+82-32-578-9839 CREFU LIMITED RM. 911, RENAISSNACE TOWER BLDG., 456,
GONGDEOK-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-716-3199 FAX:+82-2-718-3199 URECHEM TRADING CO. RM. 1207, SINWON RIVIERTEL, 338, CHANG
5-DONG, DOBONG-GU, SEOUL, KOREA TEL:+82-2-994-3619 FAX:+82-2-994-3620 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DAEJOO HEAVY INDUSTRY CO., LTD.(120111-0046161) DAEJOO ENERGY INNOVATION TECHNOLOGY CO., LTD.(120111-0051590) KC CERAMIC CO., LTD.(KOREA) DAEYEON INTERNATIONAL CO., LTD.(120111-0320185) DANGJIN SPFC CO., LTD.(165011-0031575) ABONG METAL INDUSTRY CO., LTD.(204211-0000768) KD GENERAL CONSTRUCTION CO., LTD.(KOREA) DONGHWA DEVELOPMENT CO., LTD.(KOREA) KOREA ALUMINA CO., LTD.(205411-0015069) (51.00% held by the subject company) KORES CO.,LTD.(110111-0138168) (49.52% held by the subject company) POS-HIAL(205411-0020175) (34.70% held by the subject company) CHINA SHIMYANG KUWOLYEJE TUBE CO., LTD. (76.30% held by the subject
company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region
(Activity & Markets)
Not Available.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.