MIRA INFORM REPORT

 

 

Report Date :

28.10.2013

 

IDENTIFICATION DETAILS

 

Name :

HANWHA CORPORATION

 

 

Registered Office :

1, Janggyo-dong, Jung-gu, Seoul, Korea 24th Fl., Hanwha Bldg. 100-797

 

 

Country :

South Korea

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

28.10.1952

 

 

Com. Reg. No.:

202-81-16825

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Manufacture of explosives and pyrotechnic products

 

 

No. of Employees :

3,849

 

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 :

Good

Payment Behaviour :

Regular

Litigation :

Exist

 

 

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 Information

 

Basic

 

Company Name

HANWHA CORPORATION

(Trade Name : HWC)

(Korean Company Name :

Registered Address

1, Janggyo-dong, Jung-gu, Seoul, Korea

Building

24th Fl., Hanwha Bldg.

Zip Code

100-797

Tel

+82-2-729-1114

Fax

+82-2-729-1762

E-mail

hanwhacorp@hanwha.co.kr;calmmoon@hanwha.co.kr;swhong26@hanwha.co.kr

Website

www.hanwhacorp.co.kr

Trading Address

24th Fl., Hanwha Bldg., 1, Janggyo-dong, Jung-gu, Seoul, Korea (C.P.O Box 7423 Seoul)

Tel

+82-2-729-1114

Fax

+82-2-729-1762

Other Address-Asan Factory

15-2 Block, Asan Technovalley, San 21-9, Seokgok-ri, Dunpo-myeon, Asan-si, Chungcheongnam-do, Korea

Tel

+82-41-538-7552

Fax

 

Other Address-Changwon Factory

39, Ungnam-dong, Changwon-si, Gyeongnam-do 641-290 Korea

Tel

+82-55-278-2880

Fax

 

Other Address-Gumi Factory

258, Gongdan-dong, Gumi-si, Gyeongbuk-do 730-030 Korea

Tel

+82-54-467-8500

Fax

 

Other Address-Daejeon Factory

52-1, Waesam-dong, Yuseong-gu, Daejeon 305-156 Korea

Tel

+82-42-829-2255

Fax

 

Other Address-Incheon Factory

50, Gojan-dong, Namdong-gu, Incheon 405-310 Korea

Tel

+82-32-460-1114

Fax

+82-32-446-1889

Other Address-Yeosu Factor

805, Sinwol-dong, Yeosu-si, Jeonnam-do 550-190 Korea

Tel

+82-61-640-1114

Fax

 

Other Address-Cheonan Factory

402-1, Sinwol-ri, Seongkeo-eup, Cheonan-si, Chungnam-do 330-834 Korea

Tel

+82-41-580-3800

Fax

 

Other Address-Boeun Factory

111, Eomdun-ri, Naebuk-myeon, Boeun-gun, Chungbuk-do 376-812 Korea

Tel

+82-43-540-0114

Fax

 

Other Address-Onsan Factory

753, Wonsan-ri, Onsan-eup, Ulju-gun, Ulsan 689-892 Korea

Tel

+82-52-237-6512

Fax

 

Other Address-Yeongnam Business Dept.

127-8, Gamjeon-dong, Sasang-gu, Busan 617-250 Korea

Tel

+82-51-312-9955

Fax

 

Other Address-Donghae Branch

San 24, Mangsang-dong, Donghae-si, Gangwon-do 240-080 Korea

Tel

+82-33-532-2747

Fax

 

Other Address-Taeback Branch

253-119, Hwangji-dong, Taeback-si, Gangwon-do 235-010 Korea

Tel

+82-33-552-2410

Fax

+82-33-552-3664

Other Address-Gwangju Branch

1352, Songjeon 2-dong, Gwangsan-gu, Gwangju 506-807 Korea

Tel

+82-62-942-8011

Fax

 

Other Address- Busan Branch

47, Daechang-dong 1-ga, Jung-gu, Busan 600-101 Korea

Tel

+82-51-469-6066

Fax

 

Other Address-Cheonan Branch

89, Namgwan-ri, Pungse-myeon, Cheonan-si, Chungnam-do 330-911 Korea

Tel

+82-41-578-7224

Fax

 

Other Address-Jecheon Branch

169-1, Sigok-ri, Songhak-myeon, Jechon-si, Chungbuk-do 390-813 Korea

Tel

+82-43-647-3644

Fax

 

Other Address-Guro Business Office

52-357, Gocheok-dong, Guro-gu, Seoul 152-080 Korea

Tel

+82-2-2689-1404

Fax

 

Other Address-Goyang Branch

San 118, Yongdu-dong, Deokyang-gu, Goyang-si, Gyeonggi-do 412-110 Korea

Tel

+82-2-353-1770

Fax

 

Other Address-Jeomchon Branch

524-1, Gongpyeong-dong, Mungyeong-si, Gyeongbuk-do 745-150 Korea

Tel

+82-54-552-2318

Fax

 

Type

Export/Import

Industry

Manufacture of Explosives and Pyrotechnic Products

  Main Business

Industrial Explosive, Network Equipment, CDMA

  Sub Business

 

Established (mm/dd/yyyy)

10/28/1952

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Explosive initiators(12131704)

Sell

Polyvinyl Chloride PVC(13102030)

Sell

Dynamite(12131501)

Sell

Fireworks(12131601)

Sell

Igniters(12131700)

Sell

Gold(11101801)

Sell

Bombs and grenades(46111500)

Sell

Stainless steel plate(30102205)

Sell

Bearings(31171500)

Sell

Newsprint and offset papers(14121900)

Sell

Coated papers(14121800)

Sell

Art or craft paper(14111606)

Sell

Pyrotechnics(12131600)

Sell

Blasting caps(12131701)

Sell

Metal and mineral industries(73120000)

Sell

Organic derivatives and substituted compounds(12352100)

Sell

Ammonia(12142103)

Sell

International trade services(80151600)

Sell

Printing and writing paper(14111500)

Sell

Inorganic compounds(12352300)

Sell

Meat and poultry(50111500)

Sell

Airbags(25172101)

Sell

Demolition services(72103003)

Sell

Civil engineering(81101500)

Sell

Lip balm(53131630)

 

CEO’s

 

Name

Kim Seung-Yon

Address

 

Date of Birth

02/07/1952

Title

Chairman & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

377,190,145,000

Employees

3,849

Formation

Listed Company (Korea Stock Exchange: 000880) as of 06/25/1976

A Company of HANWHA GROUP

Bank Details

Woori Bank- Euljiro 1-Ga Branch

Korea Development Bank

Korea Exchange Bank

Kookmin Bank

Shinhan Bank

Corporate Registered No.

110111-0002959

Business Registered No.

202-81-16825

Permit & Licenses

09/1995 ISO 9002

 

Int’l Trade No.: 672438

Shareholder Position

Name

Shares

%

KIM SEUNG-YON

16,977,949

22.51

KIM DONG-KWAN

3,330,000

4.41

HANWHA S&C CO., LTD.(110111-2204470)

1,650,000

2.19

NATIONAL PENSION SERVICE(110171-0007134)

5,540,904

7.34

KIM DONG-WON

1,250,000

1.66

KIM DONG-SUN

1,250,000

1.66

SEO YOUNG-MIN

1,061,676

1.41

CHEONAN BUKIL EDUCATION ACADEMY

1,371,105

1.82

OTHERS

43,006,395

57.01

TOTAL

75,438,029

100.00

Company History

12/31/2012 Transferred Aerospace Business to HANWHA TECHM CO., LTD.(194211-0056095)

10/01/2010 Acquired MICROAEROBOT CO., LTD.(110111-2798069)

12/02/2008 Awarded US$2 Billion Export Top Prize

04/01/2008 Acquired CENTEC.CO., LTD(180111-0157403)

01/23/2008 Acquired Sentec Co., Ltd.

07/2007 Participated in Yemen’s 4 Zone Oil Development Project

05/2005 Signed business agreement to develop the land for the Incheon factory

11/2003 Sold Information & Communications Division’s Switchboard Unit

06/2003 Sold Information & Communications Division’s Mobile Communications Unit

04/2003 Formally announced ethical management initiative

07/2002 Spun-off Construction Division (Hanwha Engineering & Construction Co.) and Machi

03/2002 Sold Information & Communications Division’s Transmission Operations Unit and u

12/2001 Acquired Defense Product Unit from Daewoo Electronics (currently the Gumi factor

03/2001 Spun-off Information Division (Hanwha S&C)

09/2000 Machinery Division acquired aircraft components factory (CheonanFactory)

12/1999 Spun-off Pharmaceutical Division (H-Pharm Co.)

12/1999 Spun-off Power Generation Division (Hanwha Energy Co.)

09/1999 Acquired Power Generation Unit from Korea Energy (formerly Hanwha Energy)

12/1998 Incorporated with Hanwha Machine Co. (Machinery Division)

11/1998 Awarded the Silver Tower Industrial Medal and the $1 Billion Export Tower award

01/1996 Incorporated with Hanwha Electronic Information & Communication Co. (Information

02/1996 Incorporated with Duksan Construction Co. (Construction Division)

12/1995 Assumed operations of Central Pharmacy

09/1995 Received ISO 9002 certification

01/1995 Incorporated with Golden Bell Trading Co. (Trade Division)

03/1993 Officially became Hanwha Corporation

05/1992 Completed construction of Nitrate Manufacturing Plant in Incheon

01/1991 Completed construction of Boeun factory

11/1990 Received Korea Productivity Grand Prize

01/1989 Sold Kimpo Ceramics’ Factory

01/1988 Incorporated with Sanda Co. (currently the Explosives Division’s Changwon facto

07/1987 Acquired Daejeon factory

04/1984 Acquired Kimpo Ceramics’ factory

11/1982 Awarded the Gold Tower Industrial Medal and the $100 Million Export Tower award

12/1979 Established Central Research Institute

08/1978 Completed construction of Yeosu Factory

06/1976 Company’s IPO (Capital stock: KRW 3.274 million)

05/1974 Officially designated as a Defense Contractor

01/1955 Acquired Chosun Oil & Fat Company’s Incheon factory

01/1952 Incorporated as Korea Explosive Co., Ltd.

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

Chairman & CEO

Mr.

Kim Seung-Yon

Korean

1952.02.07

De Paul University, USA

Co-President & CEO/Explosive Div.

Mr.

Shim Kyung-Sub

Korean

1954.09.

Korea University, Korea

Co-President & CEO/Trade Div.

Mr.

Park Jae-Hong

Korean

1958.02.

Hanyang University, Korea

Sr. Executive Director & CFO

Mr.

Han Kwon-Tae

Korean

1955.03.22

Seogang University, Korea

Sr. Executive Director

Mr.

Choi Yang-Soo

Korean

1958.07.

Sungkyunkwan University, Korea

Outside Director

Mr.

Choi Dong-Jin

Korean

1946.05.13

Korea Military Academy, Korea

Outside Director

Mr.

Jung Jin-Ho

Korean

1954.10.30

Korea University, Korea

Outside Director

Mr.

Oh Jae-Deok

Korean

1933.03.30

Seoul National University

Outside Director

Mr.

Kim Soo-Ki

Korean

1943.02.04

Dongkuk University, Korea

Outside Director

Mr.

Choi Jung-Ho

Korean

1954.10.

Pennsylvania University, USA

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)06/2013

2,413,167,000,000

6,390,220,000,000

52,016,000,000

(*)2012

5,242,016,000,000

5,947,457,000,000

69,287,000,000

(*)2011

5,426,939,000,000

6,160,600,000,000

69,558,000,000

2010

5,230,965,000,000

6,044,104,000,000

129,870,000,000

2009

4,675,860,457,962

5,649,188,742,823

561,470,674,214

2008

4,942,288,330,531

5,207,421,767,749

293,413,143,362

2007

3,466,903,819,977

4,195,706,697,459

215,850,116,823

2006

2,293,081,639,543

4,205,878,343,488

272,854,639,481

2005

2,150,672,516,399

3,448,001,532,340

114,157,122,401

2004

2,378,598,196,724

 3,384,245,709,314

241,737,091,895

2003

2,200,754,855,949

 2,513,734,991,708

70,206,212,572

(*)Figures are based on the K-IFRS Accounting System.

 

 

Financial Description

 

Authorized Capital(KRW)

1,000,000,000,000

Paid-Up Capital(KRW)

377,190,145,000

Total Issues Shares

75,438,029

 

 

Balance Sheet

 

Unit : Million Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Total Assets

6,390,220

5,947,457

6,160,600

Current Assets

1,907,821

1,502,518

1,728,516

Cash & Cash Equivalents

62,280

69,078

19,452

Marketable Financial Instruments

3,000

3,000

3,000

Trade Receivables & Other Receivables

974,497

706,821

951,934

Other Finance Assets

72,772

35,004

13,479

Other Current Assets

141,447

79,504

80,278

Inventories

653,825

603,880

660,373

Marketable Assets

　

5,231

　

Non-Current Assets

4,482,399

4,444,939

4,432,084

Marketable Financial Instruments

5,742

5,816

5,958

Trade Payables & Other Payables

33

68

25

Other Finance Assets

30,514

26,679

26,104

Investment_Related Companies

3,534,070

3,531,914

3,505,061

Investment_Real Estates

44,548

44,014

44,122

Tangibles

773,293

742,326

747,463

Intangibles

90,719

91,613

101,586

Other Non-Current Assets

3,480

2,509

1,765

Total Liabilities

3,765,393

3,343,315

3,586,396

Current Liabilities

2,355,487

1,880,024

2,083,345

Trade Payables & Other Payables

850,806

634,013

783,437

Long-Term Borrowings

1,028,533

1,015,967

1,036,129

Other Non-Current Financial Debts

39,611

50,409

43,147

Other Current Liabilities

425,534

179,635

216,456

Deferred Income Tax Credit

11,003

　

4,176

Non-Current Liabilities

1,409,906

1,463,291

1,503,051

Long-Term Trade Payables & Other Payables

14,200

13,537

14,407

Long-Term Borrowings

939,745

998,557

1,048,748

Other Finance Liabilities

3,692

91

90

Confirmed Salaries

173,465

166,707

152,015

Provision

9,960

9,959

7,328

Deferred Income Tax Credit

268,844

274,440

280,463

Capital Stock

377,190

377,190

377,190

Capital Surplus

339,257

339,257

339,257

Installments

-20,751

-20,751

-20,751

Installments

-510

-504

-357

Profit Surplus

1,929,641

1,908,950

1,878,865

Total Equity

2,624,827

2,604,142

2,574,204

Liab. & Shareholder’s Equity

6,390,220

5,947,457

6,160,600

 

 

Income Statement

 

Unit : Million Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Sales

2,413,167

5,242,016

5,426,939

Cost of Sold Goods

2,213,039

4,847,661

5,062,867

Gross Profit

200,128

394,355

364,072

Selling & Admin. Expenses

144,349

281,612

251,455

Operating Income

55,779

112,743

112,617

Other Income

77,840

117,649

183,940

Other Expenses

82,802

152,134

174,387

Finance Income

47,667

85,257

78,610

Finance Expenses

40,469

91,463

97,771

Income Before Taxes

58,015

72,052

103,009

Income Taxes Expenses

5,999

2,765

33,451

Net Income

52,016

69,287

69,558

 

 

Cash Flows

 

Unit : Million Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Operating Activities Cash Flows

150,736

266,248

302,867

Cash Flows from Operating

146,090

281,882

341,070

Income Taxes

4,646

-15,634

-38,203

Cash Flows from Investing

-40,629

-22,985

-82,624

Cash Flows from Financing

-116,905

-193,637

-208,255

Increase/Decrease in Cash

-6,798

49,626

11,988

Cash at the Beginning of Year

69,078

19,452

7,464

Cash at the End of Year

62,280

69,078

19,452

 

Products, Technologies, Services Description

 

Main Products & Services

EXPLOSIVES BUSINESS

 

Explosives

-Explosives

-Accessories

 

Nitric Products

-Nitric Acid

-Ammonia

 

Defense Products

-Guided Weaponry

-Rockets

-Illumination Cartridges

-Grenades

-Fuzes

-High Explosives

-Propellants

-Undersea Equipment

 

Inflators

-Driver's Seat

-Passenger Seat

-Sides

 

Fireworks

-Nighttime Fireworks

-Daytime Fireworks

-Ground Fireworks

-Special Effects

-Signals

 

Aerospace Products

-Fixed Wing

-Rotary Wing

-Space

 

Brand Name: MegaMite, Hanwha, NewMITE Plus

Main Products & Services

MegaMite is a nitroglycol-based gelatin dynamite with good water- and cold-resistance. The unparalleled detonation power and velocity makes it an all-purpose explosives for both soft and super hard rocks. In particular, it is suitable to blow up hard and super hard rocks that are hardly affected by emulsion explosives.

 

HiDETO Plus is an electric detonator with RDX 650mg as its base charge, and is used to detonate a blast hole electrically. There are basically two types of products: MS(Millisecond) delay detonators with a stage-to-stage interval of 20ms and LP(Long Period) delay detonators with a stage-to-stage interval of 100∼500ms. They are generally effective both for open-area and underground blasting. Also, their excellent millisecond precision is effective in minimizing the blasting vibration and improving fragmentation. With the coloring of leg wires, shell bodies, etc. they are extremely easy to discern.

 

Driver's Seat

In 2001, Hanwha completed the localization of two kinds of inflators through technology cooperation with TRW. The two are: FG inflator that uses Azide as the explosive facilitating the generation of gas to inflate the airbag; and the ADI inflator that uses non-Azide, an environment friendly product. Currently, these products are manufactured at the Hanwha Boeun factory which is the only inflator manufacturer in Korea.

 

Passenger Seat

The representative products are PPI3 and PHI-2. PPI3 uses non-Azide propellant as the main source of gas generation to inflate airbags while PHI2 uses compressed inert gas. These products are manufactured at TRW. In Korea, the installation of passenger-side airbags is increasing rapidly in order to enhance vehicle safety.

 

Sides

It uses compressed inert gas to inflate side airbags and is currently manufactured at TRW of Germany. The demand for inflators for side airbags is expected to increase in Korea in order to increase vehicle safety.

 

Korean Fighter Program

HANWHA was designated as a specialized FCISA(Flight Control Integrated Servo Actuator) supplier for KFP program by Korea MND and successfully delivered to KAI. We fully support our customer, ROKAF, by repair and overhaul.

Main Products & Services

TRADE BUSINESS

 

Petroleum

Petrochemicals

Plastic Resin

 

Chemicals

-Inorganic

-Organic Chemical

-Chemical Export

 

Transportation Equipment

Metals

Bearings

 

Machinery Equipment

-Pneumetic

-General Purpose Valves

-Bush

-LM

 

Defense Products

-Ammunitions

-Rockets

-Fuzes

-Propelling Charges

-Hand Grenades and Mines

-Bombs and Demolitions

-Other Suppliable Defense

 

Livestock

-Beef

-Pork

 

Salt

Plastic Products

Papers

Cut Flowers

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

Suppliers

HUCHEMS FINE CHEMICAL CORPORATION

5 FL., KUKDONG BLDG., 60-1, CHUNGMURO 3-GA, JUNG-GU, SEOUL 100-705 KOREA

TEL: 82-2-2262-0600 FAX: 82-2-2265-9381

INDUSTRY: MANUFACTURE OF ALL OTHER CHEMICAL PRODUCTS N.E.C.

 

TAEYOUNG INDUSTRY CORPORATION

1-1, YONGJAM-DONG, NAM-GU, ULSAN 680-070 KOREA

TEL: 82-52-228-3300 FAX: 82-52-228-3388

INDUSTRY: WATER FREIGHT HANDLING

 

HANWHA CHEMICAL CORPORATION

HANWHA LIVING &CREATIVE CORPORATION

HANWHA ENGINEERING & CONSTRUCTION CORPORATION

YEOCHUN NAPHTHA CRACKING CENTER CO., LTD.

HANWHA S & C CO., LTD.

 

TRW

Customer

DEFENSE PROCUREMENT AGENCY

 

HANWHA CHEMICAL CORPORATION

HANWHA LIVING &CREATIVE CORPORATION

HANWHA ENGINEERING & CONSTRUCTION CORPORATION

YEOCHUN NAPHTHA CRACKING CENTER CO., LTD.

HANWHA S & C CO., LTD.

NOVELIS KOREA LIMITED(175611-0003950)

 

HANWHA INTERNATIONAL (S) PTE LTD.(SINGAPORE)

HYUNDAI CONSTRUCTION EQUIPMENT USA INC.(USA)

MARUBENI CORPORATION TOKYO(JAPAN)

Competitors

SK NETWORKS CO., LTD.

4, PYEONG-DONG, GWONSEON-GU, SUWON-SI, GYEONGII-DO 441-230 KOREA

TEL:+82-2-2221-2016  FAX:+82-2-2221-0080

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

HYUNDAI CORPORATION

HUNGKUK LIFE INSURANCE BD 226, SINMUNNO 1-GA, JONGNO-GU, SEOUL 110-786 KOREA

TEL:+82-2-390-1114  FAX:+82-2-390-1101

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

LG INTERNATIONAL CORP.

12 FL., LG TWIN TOWER EAST ANNEX, 20, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL 150-721 KOREA

TEL:+82-2-3773-5114  FAX:+82-2-3773-5446

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

DAEWOO INTERNATIONAL CORPORATION

DAEWOO CENTER BLDG., 541, NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL 100-714 KOREA

TEL:+82-2-759-2114  FAX:+82-2-753-9489

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

HYOSUNG CORPORATION

HYOSUNG BLDG., 450, GONGDEOK 2-DONG, MAPO-GU, SEOUL 121-720 KOREA

TEL:+82-2-707-7000  FAX:+82-2-707-0130

INDUSTRY: MAN-MADE FIBERS SPINNING

 

SAMSUNG CORPORATION

310, TAEPYEONGNO 2-GA, JUNG-GU, SEOUL 100-865 KOREA

TEL:+82-2-2145-2114 FAX:+82-2-2145-3114

INDUSTRY: WHOLESALE OF NON-SPECIALIZED GOODS

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestics

HANWHA CHEMICAL CORPORATION (110111-0360935)

HANWHA TIMEWORLD CO., LTD. (160111-0003410)

HANWHA SECURITIES CO.,LTD (110111-0003155)

HANWHA NON-LIFE INSURANCE CO., LTD. (110111-0006456)

HANWHA L&C CORPORATION(110111-1725930)

HANWHA POLYDREAMER CO.,LTD (161511-0001861)

HANWHA STATION DEVELOPMENT CO., LTD. (110111-0544133)

HANWHA CHONGNYANGNI STATION DEVELOPMENT CO., LTD. (110111-3008376)

HANWHA INVESTMENT TRUST MANAGEMENT CO., LTD. (110111-0571201)

HANWHA VC CORP. (110111-1912909)

KLI INSURANCE INVESTIGATION CO., LTD. (110111-3192913)

KOREA TELE MARKETING & SERVICES CO., LTD (110111-3199349)

RADISSON SEOUL PLAZA HOTEL (110111-0154776)

HAN COMM. INC. (110111-0362957)

ENVIRONMENT FACILITIES MANAGEMENT CORPORATION (141411-0006564)

DREAMPHARMA CORP. (110111-1181025)

HANWHA S&C CO., LTD (110111-2204470)

GUNPO ECOTECH CORPORATION (110111-2629941)

HANWHA 63 CITY CORPORATION (110111-0425622)

DAEDEOK TECHNO VALLEY CO., LTD (160111-0115059)

YANGJU ENVIRO CORPORATION (110111-2503244)

HANWHA CITY DEVELOPMENT CO.,LTD (160111-0182230)

KUMDAN ECOTECH CORPORATION (110111-3205659)

HANWHA GALLERIA CO., LTD.( 110111-0202989)

HANWHA Q CELLS KOREA CORP.(110111-4572619)

HANWHA TOUR

 

HANWHA RESORT CO.,LTD (110111-0249709)

(50.0% HELD BY THE SUBJECT COMPANY)

 

KOREA LIFE INSURANCE CO.,LTD (110111-0003204)

(26.3% HELD BY THE SUBJECT COMPANY)

 

HANWHA EAGLES PROFESSIONAL BASEBALL CLUB (160111-0007214)

(40.0% HELD BY THE SUBJECT COMPANY)

 

DANGJIN TECHNO POLIS CO., LTD(165011-0022657)

(12/03/2007 Joined as an Affiliated company)

 

AZDEL INC. (11/21/2007 Joined as an Affiliated company)

 

HANWHA INDEPENDENT ENERGY CORPORATION(110111-3780932)

(12/03/2007 2007 Joined as an Affiliated company)

 

GIMHAE TECHNO VALLEY CO.,LTD.(195511-0120447)

(10/01/2009 Joined as an Affiliated company)

 

HANWHA CHEMICAL OVERSEAS HOLDINGS, CO., LTD.(110111-4137207)

(08/04/2009 Joined as an Affiliated company)

Affiliates-Overseas

KOREA LIFE INVESTMENT (AMERICA) LTD.

HANWHA (SHANGHAI) CO., LTD.

HANWHA CHEMICAL THAILAND.

MAXFORMA INCORPORATED.

UNION INDUSTRIAL DEVELOPMENT INC.

BOR DEVELOPMENT LLC.

MAXFORMA HOLDINGS INCORPORATED

MAXFORMA PLASTICS LLC.

HANWHA CHEMICAL (BEIJING) CO., LTD.

HANWHA CHEMICAL (SHANGHAI) CO., LTD.

UNIVERSAL BEARINGS INC.

HANWHA AMERICA DEVELOPMENT INC.

HANWHA LANCASTER LLC.

HANWHA DEVELOPMENT SERVICES LLC.

LANCASTER DEVELOPMENT GROUP LLC.

HANWHA INTERNATIONAL(S) PTE LTD.

MGM RT.

ACROPARK GOLF CORP.

HANWHA BANK HUNGARY LTD.

HANWHA FIRST INVESTMENT CO.,BV

HANWHA CHANDLER LLC.

CHANDLER LLC.

HANWHA SONORAN LLC.

SONORAN VISTA LLC.

HANWHA SAUDI CONTRACTING CO. LTD.

HANWHA RESOURCES (CANADA) LTD.

HANWHA L&C CANADA INC.

HANWHA PARCEL LLC

HANWHA INTERNACIONAL DO BRASIL INTERMEDIACOES DE NEGOCIOS LTDA.

HANWHA CORSICANA LLC

HANWHA PARCEL O LLC

Overseas Office

HANWHA CORPORATION

BEIJING REPRESENTATIVE OFFICE

1804 CAPITAL TOWER BUILDING TOWER A&B NO.6 JIA JIANGUOMENWAI AVENUE, CHAOYANG DISTRICT, BEIJING, CHINA

TEL :+86-10-6517-0012 FAX :+86-10-6517-0025

 

HANWHA CORPORATION

GUANGZHOU REPRESENTATIVE OFFICE

RM 1903, WEST TOWER, FORTUNE PLAZA, #114-118, TIYUNDONG ROAD, GUANGZHOU, CHINA

TEL :+86-20 -3893-1567 FAX :+86-20- 3893-2760

 

HANWHA CORPORATION

SHANTOU REPRESENTATIVE OFFICE

RM 6-03, 6F MERITUS HOTEL, JINDHA ROAD, SHANTOU, CHINA

TEL :+86-754-8863-3006 FAX 86-754-8863-4209

 

HANWHA CORPORATION

URUMQI REPRESENTATIVE OFFICE

11TH FLOOR, ”D”RM FOUNTAIN PLAZA, #86 ZHONG-SHAN ROAD, URUMQI, XINJIANG, CHINA

TEL :+86-991-282-2512,2513 FAX :+86-991-236-3796

 

HANWHA CORPORATION

SHENZHEN REPRESENTATIVE OFFICE

RM 22E2, TIMES PLAZA, NO.1 TAIZI ROAD, SHEKOU, SHENZHEN, CHINA

TEL :+86-755- 2667-3782 FAX :+86-755- 2667-3719

 

HANWHA CORPORATION

SHENYANG REPRESENTATIVE OFFICE

RM 1702, TOWER2, SHENYANG CITY PLAZA, NO.206, NANJING NORTH ST., HEPING DIST, SHENYANG, CHINA

TEL :+86-24- 2334-1065 FAX :+86-24-2334-1096

Overseas Office

HANWHA CORPORATION

TAIPEI REPRESENTATIVE OFFICE

8F-4, 207, TUN-HWAN ROAD, TAIPEI, TAIWAN

TEL :+886-22-547-3355 FAX :+886-22-546-9955

 

HANWHA CORPORATION

JAKARTA REPRESENTATIVE OFFICE

S.WIDJOJO BUILDING 9TH FLOOR, JL.JEND. SUDIRMAN 71, JAKARTA 12190, INDONESIA

TEL :+62-21-520-5815 FAX :+62-21-520-5810

 

HANWHA CORPORATION

HO CHI MINH REPRESENTATIVE OFFICE

SAIGON RIVERSIDE OFFICE CENTER 15FL, ROOM 1504 2A-4A TON DUC THANG ST., DIST.1., HCMC, VIETNAM

TEL :+84-8-822-7301 FAX :+84-8-822-7302

 

HANWHA CORPORATION

MANILA REPRESENTATIVE OFFICE

168 GOLDEN ROCK BLDG. 4TH FLOOR UNIT 4012 168 SALCEDO ST. LEGASPI VILLAGE, MAKATI CITY, PHILIPPINES 1229

TEL :+63-2-840-1330 FAX :+63-2-893-9482

 

HANWHA CORPORATION

ATHENS REPRESENTATIVE OFFICE

RIZARIOU 2A AND MIKRAS ASIAS 66, CHALANDRI, 15233, ATHENS, GREECE

TEL :+30-210-685-8280 FAX :+30-210-685-8240

 

HANWHA CORPORATION

MOSCOW REPRESENTATIVE OFFICE

LENINSKY PROSPEKT 113 / 1, PARK PLACE BUSINESS CENTER, OFFICE 212D MOSCOW 117198, RUSSIA

TEL :+7-495-662-3001~2 FAX :+7-495-662-3003

Subsidiary

HANWHA E&C (110111-2558405)

(100.0% held by the subject company)

 

HANWHA TECHM CO.,LTD (194211-0056095)

(100.0% held by the subject company)

 

HANWHA HONG KONG

(100.0% held by the subject company)

 

HANWHA JAPAN CO., LTD.

(100.0% held by the subject company)

 

HANWHA EUROPE GMBH

(100.0% held by the subject company)

 

HANWHA MACHINERY AMERICA CORPORATION

(100.0% held by the subject company)

 

HANWHA YANHU CHEMICAL CO.

(60.0% held by the subject company)

 

HANWHA INTERNATIONAL(SHANGHAI) CO.

(100.0% held by the subject company)

Subsidiary

HANWHA (H.K.) CO., LTD.

UNIT 2709, THE CENTER, 99 QUEEN’S ROAD,CENTRAL, HONG KONG

TEL : 852-2529-9325 FAX :+852-2529-4678

 

HANWHA INTERNATIONAL (SHANGHAI) CO.,LTD.

RM.2101, DAWNING CENTRE EAST,NO.500 HONGBAOSHI ROAD, CHANGNING DISTRICT, SHANGHAI 201103 CHINA

TEL: 86-21-3126-9889 FAX: 86-21-3209-2312

 

HANWHA YANHU CHEMICAL CO., LTD.

YANHU, EAST SUBURB URUMQI, XINJIANG, CHINA

TEL: 86-991-594-0275 FAX: 86-991-236-0277

 

HANWHA JAPAN CO., LTD.

WWW.HANWHA-JAPAN.COM

HANWHA BLDG. 8F, 10-1, SHIBA-4 CHOME, MINATO-KU, TOKYO 108, JAPAN

TEL : 81-3-5441-5900 FAX :+81-3-5441-5921

 

HANWHA INTERNATIONAL (S) PTE LTD.

4 SHENTON WAY #15-05/06 SGX 2 CENTER, SINGAPORE 068807

TEL: 65-6227-3139 FAX: 65-6227-9337

 

HANWHA EUROPE GMBH

WWW.HANWHA.DE MERGENTHALLER ALLEE 79-81, 65760 ESCHBORN, GERMANY

TEL : 49-6196-5016-0 FAX :+49-6196-5016-90

 

HANWHA INTERNATIONAL LLC.

2559 RT. 130 CRANBURY, NJ 08512, USA

TEL: 1-609-655-2500 FAX: 1-609-655-0711

 

UNIVERSAL BEARINGS LLC.

WWW.UNIVBRG.COM

431 NORTH BIRKEY DRIVE, BREMEN, IN 46506, USA

TEL : 1-574-546-2261 FAX :+1-574-546-5085

Corporate Ownership

The Subject company is the ultimate company of HANWHA GROUP.

Major Shareholders

 

Cooperative Enterprise

CLAVERHAM-UK

YICOM-YEMEN

 

-Insured Comp[any

FIRST FIRE & MARINE INSURANCE CO., LTD.(110111-0017586)

 

Sales (Manufacturing) by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2011

2010

2009

Export

42,459

79,938

79,938

Domestic

584,228

901,738

901,738

Total

626,687

981,676

981,676

 

Sales (Trading) by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2011

2010

2009

Export

2,180,702

2,606,882

2,253,602

Domestic

985,147

1,368,333

1,095,317

Total

3,165,849

3,975,215

3,348,919

The Subject deals with the companies in China, Japan, Russia, Singapore, Vietnam and USA.

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (Million KRW)

Status

 

Seoul District Court

An Individual

The Subject Company & Others(2)

Claim for Damage

712

Proceeding

 

Seoul Seobu District Court

Misung Enterprise Co., Ltd.(Korea)

The Subject Company & Others(7)

Claim for Damage

46

Proceeding

 

Seoul High Court

The Subject Company

Samgong Engineering

Claim for Refund on Unfair Profit

437

2nd Round Proceeding(1st Round: The Subject Company won.)

 

Cheonan District Court

The Subject Company

Misung Enterprise & Kim Nam-Sun

Claim for Promissory Note Amount

162

1st Round Proceeding

 

Cheonan District Court

The Subject Company

Misung Enterprise

Claim for Payment

50

1st Round Proceeding

 

Seoul Central District Court

Misung Enterprise & Kim Nam-Sun

The Subject Company

-

32

1st Round Proceeding

 

Cheonan District Court

Kim Nam-Sun

The Subject Company

-

41

1st Round Proceeding

 

-

Sichuan Hongda (Group) Co., Ltd

The Subject Company

Claim for Damage

USD 1,670,000

1st Round Proceeding

 

-

An individual

The Subject Company

Claim for KIA Motor's SPECTRA related Case

Unspecified

Pending

 

-

HUCHEMSFINECHEMICALCORPORATION(110111-2611906)

The Subject Company & Hanwha E&C

Claim for Damages

4,158

1st Round Proceeding

 

 

News Clipping

 --

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.85.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.