|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
YOUNG`S CORPORATION |
|
|
|
|
Registered Office : |
3rd Fl., Young`s Bldg. 242-8, Yangjae 2-dong, Seocho-gu, Seoul, Korea 137-894 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.01.1993 |
|
|
|
|
Com. Reg. No.: |
220-81-14320 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares |
|
|
|
|
Line of Business : |
Manufacture of General Paints and Similar Products |
|
|
|
|
No. of Employees : |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
YOUNG`S CORPORATION (Korean Company Name : “(주)영주양행”) |
|
Registered Address |
242-8, Yangjae 2-dong, Seocho-gu, Seoul,
Korea |
|
Building |
3rd Fl., Young`s Bldg. |
|
Zip Code |
137-894 |
|
Tel |
+82-2-555-1040 |
|
Fax |
+82-2-556-3637 |
|
E-mail |
export@youngscorp.com;import@youngscorp.com;bhk@youngscorp.com youngscorp@youngscorp.com |
|
Website |
www.youngscorp.com |
|
Trading Address |
3rd Fl., Young`s Bldg., 242-8, Yangjae 2-dong,
Seocho-gu, Seoul, Korea (New Address System : 11, Gangnam-daero
18-gil, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-2057-0390 |
|
Fax |
+82-2-2057-0399 |
|
Type |
Export/Import |
|
Industry |
Manufacture of General Paints and Similar Products |
|
Main Business |
Paint Additives, Pigments, Resin, Power Coating Additives, Flame
Retardants, Bead |
|
Sub
Business |
Manufacture of All Other Chemical Products n.e.c. |
|
Established (mm/dd/yyyy) |
01/29/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Coating paints(31211504) |
|
Sell |
Pigments(12171600) |
|
Sell |
Additives(12160000) |
|
Name |
Um Young-Sup |
|
Address |
Suite 304-1601, 726, Seongbok-dong,
Suji-gu, Yongin-si, Gyeonggi-do, Korea |
|
Date of Birth |
12/26/1946 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Mr. Um Young-Sup has
been graduated from Seoul National University, Korea.
|
Capital (KRW) |
500,000,000 |
||||||||||||
|
Employees |
16 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Industrial Bank of Korea-Seoch 3-Dong
Branch |
||||||||||||
|
Corporate Registered No. |
110111-0916457 |
||||||||||||
|
Business Registered No. |
220-81-14320 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 982283 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
04/01/1983 Established as YOUNG`S
CORPORATION CO.(Sole Proprietorship) 01/29/1993 Incorporated as the present
company name 12/10/1999 Increased the authorized shares
to 200,000 shares from 40,000 shares 02/25/2000 Moved to the present address
from 808-3, Yeoksam-dong, Gangnam-gu, Seoul, Korea 03/30/2000 Increased capital to
300,000,000 KRW from 200,000,000 KRW 03/23/2010 Increased the authorized shares
to 400,000 shares from 200,000 shares 03/23/2010 Increased capital to
500,000,000 KRW from 300,000,000 KRW |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Um Young-Sup |
Male |
Korean |
01/29/1993 |
|
Director |
Mr. |
Lee Yoon-Sang |
Male |
Korean |
06/25/2010 |
|
Auditor |
Mr. |
Park Sang-Min |
Male |
Korean |
01/29/1993 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
30,560,000,000 |
8,891,000,000 |
789,000,000 |
|
|
2011 |
28,543,000,000 |
9,752,000,000 |
687,000,000 |
|
2010 |
30,410,000,000 |
9,866,000,000 |
624,000,000 |
|
2009 |
28,760,000,000 |
8,715,000,000 |
550,000,000 |
|
2008 |
26,837,606,000 |
7,590,683,000 |
418,782,000 |
|
2007 |
19,817,560,000 |
6,469,140,000 |
284,709,000 |
|
2006 |
14,452,000,000 |
6,187,000,000 |
242,000,000 |
|
2005 |
13,546,000,000 |
5,149,000,000 |
320,000,000 |
|
2004 |
17,319,000,000 |
5,512,000,000 |
444,000,000 |
|
2003 |
13,283,000,000 |
4,302,000,000 |
418,000,000 |
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issues Shares |
100,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
8,891,000,000 |
9,752,000,000 |
9,866,000,000 |
|
Current Assets |
7,420,000,000 |
8,209,000,000 |
8,564,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
1,471,000,000 |
1,543,000,000 |
1,302,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
1,728,000,000 |
3,228,000,000 |
3,879,000,000 |
|
Current Liabilities |
1,698,000,000 |
3,198,000,000 |
3,849,000,000 |
|
Fixed Liabilities |
30,000,000 |
30,000,000 |
30,000,000 |
|
Capital Stock |
- |
- |
- |
|
Capital Surplus |
500,000,000 |
500,000,000 |
500,000,000 |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
7,163,000,000 |
6,524,000,000 |
5,987,000,000 |
|
Liab. & Shareholder’s Equity |
8,891,000,000 |
9,752,000,000 |
9,866,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
30,560,000,000 |
28,543,000,000 |
30,410,000,000 |
|
Cost of Sold Goods |
26,398,000,000 |
24,282,000,000 |
26,044,000,000 |
|
Gross Profit |
4,162,000,000 |
4,261,000,000 |
4,366,000,000 |
|
Selling & Admin. Expenses |
3,109,000,000 |
3,324,000,000 |
3,483,000,000 |
|
Operating Income |
1,053,000,000 |
937,000,000 |
883,000,000 |
|
Non-Operating Income |
351,000,000 |
427,000,000 |
351,000,000 |
|
Non-Operating Expenses |
416,000,000 |
488,000,000 |
441,000,000 |
|
Income Before Taxes |
987,000,000 |
876,000,000 |
793,000,000 |
|
Income Taxes Expenses |
198,000,000 |
189,000,000 |
169,000,000 |
|
Net Income |
789,000,000 |
687,000,000 |
624,000,000 |
|
Main Products & Services |
The Subject manufactures Paint Additives,
Pigments, Resin, Power Coating Additives, Flame Retardants, and plastics raw
materials, and imports raw chemical materials, pigment, additives, flame
retardant, bead and other raw materials. It also exports raw materials for
waterborne paints, solventborne paints, resins, pigments, power coating
additives and other raw materials. Additives for Waterborne Paint Additives for Solventborne Paint Solvents Grinding Media (Bead) Resins Resin raw materials Plastics and its Relatives |
|
Competitors |
LION CHEMTECH CO., LTD. 41-5, MUNPYEONG-DONG, DAEDEOK-GU, DAEJEON,
KOREA TEL:+82-42-930-3300 FAX:+82-42-930-3333 CHEMRICH CORP. 160-1, MUNHYEONG-RI, OPO-EUP, GWANGJU SI,
GYEONGGI-DO, KOREA TEL:+82-31-767-2323 FAX:+82-31-767-0557 CONNELL BROS. CO.(KOREA), LTD. RM. 811, KOREAN REINSURANCE BLDG., 80,
SUSONG-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-725-8751 FAX:+82-2-755-3896 |
(Activity &
Markets)
The Subject deals
with the companies in China, USA, Asia and Europe.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
|
|
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.98 |
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.