|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
YONWOO CO., LTD. |
|
|
|
|
Registered Office : |
473-5, Gajwa 3-dong, Seo-gu, Incheon, Korea 404-817 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.09.1994 |
|
|
|
|
Com. Reg. No.: |
137-81-10376 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Glass Containers Blown or Pressed |
|
|
|
|
No. of Employees : |
1,067 |
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
|
Company Name |
YONWOO CO., LTD. (Korean Company
Name : “(주)연우”) |
|
Registered Address |
473-5, Gajwa 3-dong, Seo-gu, Incheon,
Korea |
|
Zip Code |
404-817 |
|
Tel |
+82-32-575-8811 |
|
Fax |
+82-32-578-0485 |
|
E-mail |
webmaster@yonwookorea.com;gycha@yonwookorea.com |
|
Website |
www.yonwookorea.com |
|
Trading Address |
473-5, Gajwa 3-dong, Seo-gu, Incheon,
Korea (New Address System : 13, Gajwa-ro
84beon-gil, Seo-gu, Incheon, Korea) |
|
Tel |
+82-32-575-8811 |
|
Fax |
+82-32-578-0485 |
|
Type |
Export |
|
Industry |
Manufacture of Glass Containers Blown or Pressed |
|
Main Business |
Airless Container, Dispenser Pump |
|
Established (mm/dd/yyyy) |
09/30/1994 |
The Subject owns
the premises of registered HQ address (12,497m2).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Caps or tops(24122004) |
|
Sell |
Bottles(24122000) |
|
Name |
Ki Joong-Hyun |
|
Address |
Rm. 208-1702, 11, Gajwa-dong,
Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
03/03/1958 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,996,160,000 |
||||||||||||
|
Employees |
1,067 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Koomkin Bank Woori Bank-Bupyung Branch Citibank, Korea Industrial Bank of Korea |
||||||||||||
|
Corporate Registered No. |
120111-0101890 |
||||||||||||
|
Business Registered No. |
137-81-10376 |
||||||||||||
|
Permit & Licenses |
06/1999 ISO 9002 12/25/2003 ISO 9001 Int’l Trade No.: 14012644 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
09/1983 Established as YONWOO INDUSTRY
(Sole Proprietorship) 05/11/2012 Split off the par value to 500
KRW from 10,000 KRW 05/11/2012 Increased the authorized shares
to 60,000,000 shares from 1,764,000 shares 07/30/2012 Increased capital to
4,996,160,000 KRW from 4,410,000,000 KRW |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Ki Joong-Hyun |
Male |
Korean |
03/17/2001 |
|
Director |
Mr. |
Kim Dong-Il |
Male |
Korean |
03/17/2001 |
|
Director |
Mr. |
Kim Hak-Chan |
Male |
Korean |
03/28/2012 |
|
Director |
Mr. |
Jung Pyung-Il |
Male |
Korean |
05/31/2013 |
|
Outside Director |
Mr. |
Chang Seok-Joo |
Male |
Korean |
12/26/2012 |
|
Auditor |
Mr. |
Cho Seo-Haeng |
Male |
Korean |
03/27/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
152,041,903,611 |
150,650,049,138 |
12,822,042,567 |
|
|
(*)2011 |
137,600,078,551 |
139,707,450,813 |
9,205,924,063 |
|
2010 |
128,148,172,087 |
100,613,370,854 |
9,267,080,823 |
|
2009 |
95,449,698,861 |
86,554,344,567 |
3,795,963,273 |
|
2008 |
73,937,525,748 |
69,168,645,190 |
2,716,804,195 |
|
2007 |
59,902,891,695 |
46,618,440,242 |
2,436,853,272 |
|
2006 |
54,550,666,310 |
33,597,790,418 |
2,199,478,696 |
|
2005 |
42,290,579,157 |
31,483,243,210 |
2,484,104,771 |
|
2004 |
29,811,461,698 |
24,283,985,809 |
2,339,488,964 |
|
2003 |
23,856,959,335 |
19,645,472,358 |
1,687,722,651 |
(*) Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
4,996,160,000 |
|
Total Issued Shares |
9,992,320(Common : 9,146,920 / Preferable : 845,400) |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total
Assets |
150,650,049,138 |
139,707,450,813 |
|
|
Current Assets |
52,348,107,348 |
49,601,184,001 |
|
|
Cash
& Cash Equivalents |
10,095,707,662 |
4,732,223,383 |
|
|
Trade
Receivables |
26,788,411,291 |
25,573,721,588 |
|
|
Other
Receivables |
3,176,137,040 |
7,178,145,766 |
|
|
Inventories |
10,333,601,046 |
9,657,715,280 |
|
|
Other
Current Assets |
1,954,250,309 |
2,459,377,984 |
|
|
Non-Current Assets |
98,301,941,790 |
90,106,266,812 |
|
|
Marketable
Financial Instruments |
879,832,823 |
1,895,615,928 |
|
|
Held-to-Maturity
Financial Assets |
200,000,000 |
290,000,000 |
|
|
Other Receivables |
4,852,864,186 |
3,095,439,200 |
|
|
Tangibles |
73,609,510,134 |
71,824,183,184 |
|
|
Intangibles |
1,610,085,243 |
1,385,894,718 |
|
|
Investment_Real
Estates |
17,149,649,404 |
11,615,133,782 |
|
|
Total Liabilities |
78,235,074,576 |
89,215,381,872 |
|
|
Current Liabilities |
54,434,693,814 |
76,540,766,907 |
|
|
Finance
Assets from this year's Debts |
- |
1,524,564,000 |
|
|
Trade Payables |
7,812,106,324 |
4,416,666,781 |
|
|
Short-Term
Borrowings |
38,909,749,943 |
53,124,461,560 |
|
|
Other
Current Financial Debts |
4,125,848,484 |
12,113,976,106 |
|
|
Other
Current Liabilities |
692,562,288 |
341,037,261 |
|
|
Accrued
Income Tax |
786,093,443 |
207,561,200 |
|
|
Current
Portion of Long-Term Debts |
2,108,333,332 |
4,812,499,999 |
|
|
Non-Current Liabilities |
23,800,380,762 |
12,674,614,965 |
|
|
Debentures |
- |
- |
|
|
Long-Term
Borrowings |
14,841,666,669 |
5,612,500,001 |
|
|
Other
Non-Current Financial Debts |
344,900,000 |
158,700,000 |
|
|
Confirmed
Salaries |
4,788,423,667 |
3,494,291,554 |
|
|
Deferred
Income Tax Credit |
3,825,390,426 |
3,409,123,410 |
|
|
Capital Stock |
4,996,160,000 |
4,410,000,000 |
|
|
Capital
Surplus |
9,108,065,400 |
- |
|
|
Others |
36,154,188 |
66,000,424 |
|
|
Profit
Surplus |
58,274,594,974 |
46,016,068,517 |
|
|
Total
Equity |
72,414,974,562 |
50,492,068,941 |
|
|
Liab.
& Shareholder’s Equity |
150,650,049,138 |
139,707,450,813 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
152,041,903,611 |
137,600,078,551 |
|
|
Cost
of Sold Goods |
-122,269,775,914 |
-110,390,380,640 |
|
|
Gross
Profit |
29,772,127,697 |
27,209,697,911 |
|
|
Selling
& Admin. Expenses |
-12,426,585,833 |
-10,282,144,174 |
|
|
Operating
Income |
17,345,541,864 |
16,927,553,737 |
|
|
Non-Operating
Income |
1,657,234,136 |
791,712,448 |
|
|
Non-Operating
Expenses |
-874,281,001 |
-746,551,784 |
|
|
Finance
Income |
3,413,120,287 |
3,466,950,777 |
|
|
Finance
Expenses |
-6,870,909,666 |
-9,141,133,439 |
|
|
Income
Before Taxes |
14,670,705,620 |
11,298,531,739 |
|
|
Income
Taxes Expenses |
1,848,663,053 |
2,092,607,676 |
|
|
Net
Income |
12,822,042,567 |
9,205,924,063 |
|
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
13,171,879,779 |
12,084,580,635 |
|
|
Cash
Flows from Operating |
16,458,489,411 |
17,480,051,412 |
|
|
Interests
Received |
314,914,913 |
211,122,835 |
|
|
Interests
Paid |
-2,915,019,361 |
-2,714,958,983 |
|
|
Income
Taxes |
-686,505,184 |
-2,891,634,629 |
|
|
Cash
Flows from Investing |
-10,982,784,505 |
-30,214,882,491 |
|
|
Cash
Flows from Financing |
3,193,931,134 |
18,661,138,510 |
|
|
Increase/Decrease
in Cash |
5,383,026,408 |
530,836,654 |
|
|
Cash
at the Beginning of Year |
4,732,223,383 |
4,176,047,395 |
|
|
Cash
at the End of Year |
10,095,707,662 |
4,732,223,383 |
|
|
Main Products & Services |
Airless Container Aluminum Cap Dispenser Pump |
|
Competitors |
MIN JIN CO., LTD. 361-1, MAETAN-DONG, YEONGTONG-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-211-0192~5 FAX:+82-31-211-0196 PILLIP INDUSTRIAL CO., LTD. RM. 614, CHEONGGU BLUE VILLE, 11-1,
SUNAE-DONG, BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-719-4055~8 FAX:+82-31-719-4059 DOOCO CO., LTD. 198-5, SEONHAENG-RI, SEONWON-MYEON,
GANGHWA-GUN, INCHEON, KOREA TEL:+82-32-543-9815 FAX:+82-32-543-9968 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
YONWOO EUROPE SAS (10.18% held by the subject company) D& TECH CO., LTD.(KOREA) |
(Activity &
Markets)
The Subject deals
with the companies in Australia, China, France, Hong, Italy, Singapore, Japan,
Spain, UK and USA.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
2011Gadan 98661 |
The Subject Company |
Eom Hyo-Jin & Others(3) |
Refund of Inappropriate Profits |
29,992,000 |
Proceeding |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
|
1 |
Rs.89.89 |
|
Euro |
1 |
Rs.77.72 |
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.