MIRA
INFORM REPORT
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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
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Name : |
HANWHA CORP
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Registered Office : |
24F, Hanhwa Bldg., 1, Janggyo-Dong, Jung-Gu, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
28.10.1952 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Subject is engages in the export, import and domestic sale
of oil products, including petroleum and petroleum products; metal products,
including nonferrous metal products and steel products, as well as machinery,
synthetic resin products, concentrated commodities and others. |
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No. of Employees : |
3837 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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South korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
Hanwha Corp
24F
Hanhwa Bldg.,, 1, Janggyo-Dong, Jung-Gu
Seoul, 100797
Korea, Republic of
Tel: 82-2-7291114
Fax: 82-2-7291762
Synthesis
Employees: 3,837
Company Type: Public Subsidiary
Corporate Family: 46
Companies
Ultimate Parent: Hanwha
Group
Traded: Korea
Stock Exchange: 000880
Incorporation Date:
28-Oct-1952
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 10,208.3 1
Net Income: 275.3
Total Assets:
14,877.5 2
Market Value: 2,190.0 (16-May-2013)
Business Description
Hanwha Corporation is a Korea-based company engaged in the trading and manufacturing business. Its trading business engages in the export, import and domestic sale of oil products, including petroleum and petroleum products; metal products, including nonferrous metal products and steel products, as well as machinery, synthetic resin products, concentrated commodities and others. Its manufacturing business engages in the manufacture of industrial explosives, defense products, aircraft and ship parts and inflators. For the fiscal year ended 31 December 2012, Hanwha Corp revenues decreased 6% to W11.503T. Net income applicable to common stockholders increased from W133.58B to W308.02B. Revenues reflect Trade segment decrease of 23% to W5.426T, Equipment/Manufactures segment decrease of 10% to W362.17B, Others segment decrease of 16% to W85.63B, Asia segment decrease of 42% to W1.941T, United States segment decrease of 2% to W34.62B.
Industry
Industry Oil and Gas Operations
ANZSIC 2006: 3321 - Petroleum
Product Wholesaling
NACE 2002: 5151 - Wholesale
of solid, liquid and gaseous fuels and related products
NAICS 2002: 42472 - Petroleum
and Petroleum Products Wholesalers (except Bulk Stations & Terminals)
UK SIC 2003: 51511 - Wholesale
of petroleum and petroleum products
UK SIC 2007: 46711 - Wholesale
of petroleum and petroleum products
US SIC 1987: 5172 - Petroleum
and Petroleum Products Wholesalers, Except Bulk Stations and Terminals
Key Executives
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Name |
Title |
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Seung Yeon Kim |
Chairman of the Board, Co-Chief Executive Officer |
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Chung Beom Kim |
Vice President |
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Kyung-seb Shim |
CEO & President-Explosives Division |
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Seong Wuk Cho |
Director |
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Yang Su Choi |
Managing Director |
Significant Developments
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* number of significant developments within
the last 12 months
Financial Summary
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As of 31-Dec-2012 |
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Stock Snapshot
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1 -
Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate:
USD 1 = KRW 1066.4
Corporate Overview
Location
24F
Hanhwa Bldg.,, 1, Janggyo-Dong, Jung-Gu
Seoul, 100797
Korea, Republic of
Tel: 82-2-7291114
Fax: 82-2-7291762
Quote Symbol - Exchange
000880 - Korea
Stock Exchange
Sales KRW(mil): 11,503,206.0
Assets KRW(mil): 15,865,392.0
Employees: 3,837
Fiscal Year End: 31-Dec-2012
Industry: Oil
and Gas Operations
Incorporation Date: 28-Oct-1952
Company Type : Public Subsidiary
Quoted Status: Quoted
Co-Chief Executive
Officer, Director:
Jae Hong Park
Industry Codes
ANZSIC 2006 Codes:
3321 - Petroleum Product Wholesaling
3323 - Industrial and Agricultural Chemical Product Wholesaling
1813 - Basic Inorganic Chemical Manufacturing
6411 - Financial Asset Broking Services
2394 - Aircraft Manufacturing and Repair Services
1892 - Explosive Manufacturing
3322 - Metal and Mineral Wholesaling
NACE 2002 Codes:
5151 - Wholesale of solid, liquid and gaseous fuels and related
products
5155 - Wholesale of chemical products
3530 - Manufacture of aircraft and spacecraft
2461 - Manufacture of explosives
2413 - Manufacture of other inorganic basic chemicals
6712 - Security broking and fund management
5152 - Wholesale of metals and ores
NAICS 2002 Codes:
42472 - Petroleum and Petroleum Products Wholesalers (except Bulk
Stations & Terminals)
325920 - Explosives Manufacturing
336413 - Other Aircraft Part and Auxiliary Equipment Manufacturing
423510 - Metal Service Centers and Other Metal Merchant Wholesalers
523140 - Commodity Contracts Brokerage
424690 - Other Chemical and Allied Products Merchant Wholesalers
325188 - All Other Basic Inorganic Chemical Manufacturing
US SIC 1987:
5172 - Petroleum and Petroleum Products Wholesalers, Except Bulk
Stations and Terminals
5169 - Chemicals and Allied Products, Not Elsewhere Classified
3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere
Classified
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
5051 - Metals Service Centers and Offices
2892 - Explosives
6221 - Commodity Contracts Brokers and Dealers
UK SIC 2003:
51511 - Wholesale of petroleum and petroleum products
3530 - Manufacture of aircraft and spacecraft
6712 - Security broking and fund management
2413 - Manufacture of other inorganic basic chemicals
2461 - Manufacture of explosives
5155 - Wholesale of chemical products
5152 - Wholesale of metals and ores
UK SIC 2007:
46711 - Wholesale of petroleum and petroleum products
4672 - Wholesale of metals and metal ores
2051 - Manufacture of explosives
4675 - Wholesale of chemical products
2013 - Manufacture of other inorganic basic chemicals
6612 - Security and commodity contracts brokerage
3030 - Manufacture of air and spacecraft and related machinery
Business
Description
Hanwha Corporation
is a Korea-based company engaged in the trading and manufacturing business. Its
trading business engages in the export, import and domestic sale of oil
products, including petroleum and petroleum products; metal products, including
nonferrous metal products and steel products, as well as machinery, synthetic
resin products, concentrated commodities and others. Its manufacturing business
engages in the manufacture of industrial explosives, defense products, aircraft
and ship parts and inflators. For the fiscal year ended 31 December 2012,
Hanwha Corp revenues decreased 6% to W11.503T. Net income applicable to common
stockholders increased from W133.58B to W308.02B. Revenues reflect Trade
segment decrease of 23% to W5.426T, Equipment/Manufactures segment decrease of
10% to W362.17B, Others segment decrease of 16% to W85.63B, Asia segment
decrease of 42% to W1.941T, United States segment decrease of 2% to W34.62B.
More Business Descriptions
Holding company of
a group involved in the manufacture of chemical products principally industrial
explosives and defence components including inflators
Explosives &
Guided Weapons Mfr; Food & Industrial Raw Materials Wholesale Trading
Services
Hanwha Corporation
(Hanwha) is a chemical company, based in South Korea. The company produces
industrial explosives and related products which are used in defense and
aerospace. The company’s products include explosives, rockets and grenades,
fuses, under sea equipments, fireworks, petroleum products, aerospace products,
and livestock. Hanwha operates through its subsidiaries located in China,
Japan, Asia, Europe, and the US. Hanwha Corporation operates through its
subsidiaries of Hanwha Group, which was founded in 1952.The company operates
through its segments namely, Explosives and Trade.Hanwha’s Explosive segment
consists of Explosive Business and Defense Business.Explosives Business
includes Commercial Explosives, Explosives Application, Inflators, Fireworks
Business, Chemicals, and Fire Suppression.Commercial Explosives includes
Explosive Products which have blasting efficiency, safety, waterproofing, and
freeze resistance. It also includes Blasting Accessories is to use required
blasting accessories provides precision delay time in the blasting industry.
Explosives Application includes Explosion Welding and Explosives
Demolition.Explosion Welding is a technology for welding different metals,
welded metal together use of impact energy generated by the explosion of
explosives.Explosives Demolition compares to existing mechanical demolition
methods.Chemicals produced by the company include Nitric Acid Products,
Ammonia, and Liquid Ammonia.Nitric Acid is used for polyurethanes, ammonium
nitrate, concentrated nitric acid, and etc. Ammonia is a raw material of
fertilizers, caprolactam, nitric acid, refrigerants, and etc. Defense Business
of the company includes manufacturing of munitions, underwater equipment, and
satellite vehicles. It also manufactures and markets defense related products
that include precision firearms, ammunition, guided weapons, and submarine
equipment. The company designs, develops, and manufactures hydraulic and fuel
system for aircraft, flight control actuators, and launch vehicle for the
aerospace sector. Its manufacturing facilities are located in Yeosu, Daejeon,
Boeun, Gumi, and Cheonan.Trade segment of the company provides jet fuel, fuel
oil, asphalt, and gas oil. It provides petrochemical raw materials such as
olefin, chloro alkali derivatives, oxo alcohol, butanol, plastic derivatives,
and cyclchexznono. The division also provides transportation equipment, metals,
steel, stainless steel, bearings, non-ferrous products, fluid power systems,
automatic machinery and automation products, and pneumatic components. The
company also provides solar business team which provides PV package to
customers. It has the distribution channels located at Australia and the
US.Olefin and Feedstock team has two functional sections. The naphtha section
is responsible for serving raw materials to the petrochemical industry, the
olefin section is responsible for raw materials for synthetic resins such as
ethylene and propylene, and raw C5 section trades in gasoline blending and
synthetic resins market.The company’s general merchandise business includes
artificial marble, flooring, processed goods, advertisement products,
agricultural and livestock products, and papers. The business development area
of the company invests in the development of overseas mineral resources, new
renewable energy industries, and IT businesses. These investments are used in
profitability of overseas oil and gas fields and overseas mineral resources,
such as uranium and coal. The company operates through its subsidiaries
includes Hanwha (H.K.) Co., Ltd., Hanwha International (Shanghai) Co., Ltd.,
Hanwha Yanhu Chemical Co., Ltd., Hanwha Japan Co., Ltd., Hanwha International
(S) Pte Ltd., Hanwha Europe GmbH, Hanwha International LLC and Universal
Bearings LLC.
Hanwha Corporation
(Hanwha) is an explosives manufacturer, based in Korea. The company operates
through the production sector of industrial explosives and related products for
its clients across various nations. Its explosives division involved in making
commercial explosives, technologically advanced defense industry products and
aerospace products, and the Trade Division, which, by using the company's vast
global network, deals with a variety of products, including petroleum, metals,
and other goods. The company operates through its subsidiaries across various
nations that include China, Japan, Asia, Europe, and the US. Hanwha is the
parent company of Hanwha Group.Hanwha has its headquartered located in Seoul,
Korea.The company reported revenues of (Won) KRW 12,185,910.71 million during
the fiscal year ended December 2011, a decrease of 15.80% from 2010. The
operating profit of the company was KRW 313,591.62 million during the fiscal
year 2011, a decrease of 32.36% from 2010. The net profit of the company was
KRW 134,527.15 million during the fiscal year 2011, a decrease of 88.29% from
2010.
Explosives Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Hanwha
Group |
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Hanwha Corp |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Seoul |
Korea, Republic of |
Miscellaneous Financial Services |
|
21,402 |
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Subsidiary |
Seoul |
Korea, Republic of |
Hotels and Motels |
599.0 |
5,960 |
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Subsidiary |
Seoul |
Korea, Republic of |
Oil and Gas Operations |
10,208.3 |
3,837 |
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Subsidiary |
Seoul |
Korea, Republic of |
Insurance (Life) |
10,235.7 |
4,416 |
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Subsidiary |
Ho Chi Minh City |
Viet Nam |
Insurance (Life) |
|
21 |
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Subsidiary |
Bremen, IN |
United States |
Miscellaneous Fabricated Products |
18.9 |
280 |
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Subsidiary |
Cranbury, NJ |
United States |
Business Services |
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20 |
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Subsidiary |
Eschborn, Hessen |
Germany |
Chemical Manufacturing |
241.4 |
17 |
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Subsidiary |
Tokyo |
Japan |
Business Services |
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Holding |
Seoul |
Korea, Republic of |
Chemicals - Plastics and Rubber |
6,178.5 |
2,402 |
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Subsidiary |
Bitterfeld-Wolfen |
Germany |
Semiconductors |
1,577.1 |
2,541 |
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Subsidiary |
Bitterfeld-Wolfen, Sachsen-Anhalt |
Germany |
Semiconductors |
|
150 |
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Subsidiary |
Roma, Roma |
Italy |
Engineering Consultants |
32.5 |
10 |
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Subsidiary |
Perrysburg, OH |
United States |
Semiconductors |
10.5 |
4 |
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Subsidiary |
Thalheim, Sachsen-Anhalt |
Germany |
Semiconductors |
252.3 |
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Subsidiary |
Central |
Hong Kong |
Semiconductors |
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Subsidiary |
Bitterfeld |
Germany |
Business Services |
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Subsidiary |
Cyberjaya, Selangor |
Malaysia |
Semiconductors |
533.0 |
500 |
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Subsidiary |
Bitterfeld |
Germany |
Business Services |
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Subsidiary |
Seoul |
Korea, Republic of |
Retail (Department and Discount) |
277.2 |
1,285 |
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Subsidiary |
Seoul |
Korea, Republic of |
Containers and Packaging |
934.3 |
1,280 |
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Subsidiary |
Daejeon |
Korea, Republic of |
Retail (Department and Discount) |
113.0 |
310 |
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Subsidiary |
Frydek-Mistek |
Czech Republic |
Fabricated Plastic and Rubber |
19.9 |
200 |
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Subsidiary |
Chonan, Chungchongnam-Do |
Korea, Republic of |
Containers and Packaging |
132.3 |
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Branch |
Suwon, Kyonggi-Do |
Korea, Republic of |
Nonclassifiable Industries |
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Joint Venture |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
6,788.7 |
840 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Water Transportation |
181.1 |
92 |
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Subsidiary |
Taejon, Taejon |
Korea, Republic of |
Real Estate Operations |
78.4 |
22 |
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Subsidiary |
Singapore |
Singapore |
Oil and Gas Operations |
2,098.5 |
12 |
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Subsidiary |
Seoul |
Korea, Republic of |
Construction - Supplies and Fixtures |
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Subsidiary |
Siheung-si, Gyeonggi-Do |
Korea, Republic of |
Construction Services |
2,273.0 |
1,625 |
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Subsidiary |
Chilgok, Kyongsangbuk-Do |
Korea, Republic of |
Waste Management Services |
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27 |
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Subsidiary |
Changwon-si, Gyeongsangnam-Do |
Korea, Republic of |
Miscellaneous Capital Goods |
307.9 |
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Subsidiary |
Central District, Hong Kong |
Hong Kong |
Miscellaneous Capital Goods |
204.6 |
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Subsidiary |
Forest, VA |
United States |
Fabricated Plastic and Rubber |
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Subsidiary |
Seoul |
Korea, Republic of |
Biotechnology and Drugs |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Biotechnology and Drugs |
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Subsidiary |
Seoul |
Korea, Republic of |
Engineering Consultants |
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1,800 |
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Subsidiary |
Seoul |
Korea, Republic of |
Investment Services |
1,866.9 |
1,122 |
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Holding |
Seoul |
Korea, Republic of |
Investment Services |
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90 |
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Subsidiary |
Budapest |
Hungary |
Commercial Banks |
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55 |
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Subsidiary |
Budapest |
Hungary |
Commercial Banks |
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55 |
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Subsidiary |
Seoul |
Korea, Republic of |
Retail (Department and Discount) |
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967 |
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Subsidiary |
Seoul |
Korea, Republic of |
Hotels and Motels |
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700 |
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Subsidiary |
Changwon, Kyungsangnam-Do |
Korea, Republic of |
Miscellaneous Capital Goods |
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500 |
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Subsidiary |
Samut Prakan |
Thailand |
Fabricated Plastic and Rubber |
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200 |
Competitors
Report
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Company Name |
Location |
Employees |
Ownership |
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Daewoo International Corporation |
Seoul, Kore a, Republic of |
1,983 |
Public |
Executive report
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Board of
Directors |
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Chairman of the Board, Co-Chief Executive Officer |
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Managing Director |
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Non-Executive Independent Director |
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Managing Director |
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Co-Chief Executive Officer, Director |
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Co-Chief Executive Officer, Director |
Director/Board Member |
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Executives |
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Chairman of the Board, Co-Chief Executive Officer |
Chief Executive Officer |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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CEO & President-Explosives Division |
President |
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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
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Director |
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Vice President |
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Hanwha Corp Declares Annual Cash Dividend for FY 2012 Feb 27, 2013
Hanwha Corp announced that its Board of Directors has declared an annual cash
dividend of KRW 450 per share of common stock and KRW 500 per share of
preferred stock for the fiscal year 2012 to shareholders of record on December
31, 2012. The dividend rates of market prices are 1.3% (common shares) and 4.4%
(preferred shares), respectively. The total cash dividend amount is KRW
31,325,077,750.
Hanwha Corp Signs Deal To Buy Q-Cells SE-Reuters Aug 26, 2012
reported that Hanwha Corp intends to buy solar Group Q-Cells SE, the German
group said in a statement on August 26, 2012. Hanwha and Q-Cells' insolvency
administrator Henning Schorisch had signed a contract, which needs to be
approved by a creditors' meeting to be held on August 29, 2012. Q-Cells, maker
of solar cells, said Hanwha would take on liabilities, which amount to 'the low
hundreds of millions.' In addition it would pay a 'medium double-digit
million-euro range' in cash,' Q-cells said in the statement. The deal was
excluding convertible bonds issued and guaranteed by Q-Cells.