|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOSTIC KOREA LTD. |
|
|
|
|
Registered Office : |
32-2, Pungmu-dong, Gimpo-si, Gyeonggi-do, Korea 415-070) |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.07.1983 |
|
|
|
|
Com. Reg. No.: |
136-81-03867 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Paper and Paperboard |
|
|
|
|
No. of Employees : |
180 |
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 |
KOSTIC KOREA LTD. |
|
Registered Address |
32-2, Pungmu-dong, Gimpo-si, Gyeonggi-do, Korea |
|
Zip Code |
415-070) |
|
Tel |
+82-31-982-1773 |
|
Fax |
+82-31-984-2124 |
|
E-mail |
sevice@kostic.co.kr;sales@kostic.co.kr;trade@kostic.co.kr |
|
Website |
www.kostic.co.kr |
|
Trading Address |
32-2, Pungmu-dong, Gimpo-si, Gyeonggi-do, Korea (New Address System : 185, Pungmu-ro, Gimpo-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-984-2114 |
|
Fax |
+82-31-986-7818 |
|
Other Address-Youngnam Business Div. |
49, Gaya-daero 134beon-gil, Sasang-gu, Busan, Korea |
|
Tel |
+82-51-322-2401 |
|
Fax |
+82-51-322-2405 |
|
Other Address- Paju Factory |
682-3, Deogeun-ri, Wollong-myeon, Paju-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-948-3504 |
|
Fax |
+82-31-948-3604 |
|
Type |
Export |
|
Industry |
Manufacture of Adhesives and Gelatin |
|
Main Business |
PSA Labels |
|
Sub
Business |
Manufacture of Other Paper and Paperboard |
|
Established (mm/dd/yyyy) |
07/07/1983 |
The Subject owns the
premises of registered HQ address/Factory, Paju Factory and Youngnam Business Div.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Self adhesive labels(55121606) |
|
Sell |
Labels(55121600) |
|
Sell |
Addressing or mailing labels(55121605) |
|
Sell |
Clothing labels(55121602) |
|
Buy |
Polyester films(13111210) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Films(13111200) |
|
Buy |
Other adhesives and sealants(31201600) |
|
Buy |
Art or craft paper(14111606) |
|
Buy |
Printing and writing paper(14111500) |
|
Buy |
Thermal paper(14111818) |
|
Buy |
Silicone coated papers(14121804) |
|
Buy |
Uncoated base papers(14122100) |
|
Name |
Kim Jun-Hyung |
|
Address |
5FL., 395-174, Seogyo-dong,
Mapo-gu, Seoul 121-840 Korea |
|
Date of Birth |
07/30/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,050,000,000 |
||||||||||||||||||||||||
|
Employees |
180 |
||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Seogyo Dong Branch Shinhan Bank-Seogyo Dong Branch Woori Bank-Gimpo Branch |
||||||||||||||||||||||||
|
Corporate Registered No. |
124411-0001628 |
||||||||||||||||||||||||
|
Business Registered No. |
136-81-03867 |
||||||||||||||||||||||||
|
Permit & Licenses |
08/1989 ISO 9001 08/1989 UL 02/2000 ISO 9001 04/2001 NT 08/2002 ISO 14001 Int’l Trade No.: 970491 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
07/07/1983 Incorporated as Nammi Industry
Co., Ltd. 08/19/2002 Changed company name to the
present name |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Jun-Hyung |
Male |
Korean |
01/11/2002 |
|
Director |
M/S. |
Kim Young-Sook |
Female |
Korean |
07/20/2000 |
|
Director |
Mr. |
Kang Kyung-Koo |
Male |
Korean |
01/01/2009 |
|
Auditor |
M/S. |
Kim Mi-Kyung |
Female |
Korean |
01/01/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
59,073,425,422 |
50,889,186,108 |
3,541,304,456 |
|
|
2011 |
61,767,184,813 |
54,102,162,215 |
4,009,072,121 |
|
2010 |
57,802,933,509 |
53,132,241,341 |
4,505,948,943 |
|
2009 |
49,130,888,159 |
51,059,824,334 |
2,355,506,747 |
|
2008 |
46,000,987,092 |
49,785,120,637 |
-1,799,377,453 |
|
2007 |
45,134,509,380 |
50,848,297,544 |
-1,742,689,597 |
|
2006 |
44,143,941,873 |
50,237,403,835 |
-1,877,099,326 |
|
2005 |
40,753,907,827 |
46,659,523,298 |
716,321,412 |
|
2004 |
37,552,640,487 |
41,143,356,984 |
1,601,461,251 |
|
2003 |
36,249,440,928 |
33,633,268,535 |
1,463,826,062 |
|
Authorized Capital(KRW) |
6,000,000,000 |
|
Paid-Up Capital(KRW) |
4,050,000,000 |
|
Total Issued Shares |
405,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
50,889,186,108 |
54,102,162,215 |
53,132,241,341 |
|
Current Assets |
24,883,090,127 |
26,478,526,139 |
24,722,752,462 |
|
-Quick Assets |
15,988,968,403 |
16,870,744,947 |
16,060,057,753 |
|
-Inventories |
8,894,121,724 |
9,607,781,192 |
8,662,694,709 |
|
Fixed Assets |
26,006,095,981 |
27,623,636,076 |
28,409,488,879 |
|
-Investment |
242,500,000 |
52,500,000 |
77,500,000 |
|
-Tangibles |
25,190,549,305 |
27,006,685,738 |
27,740,381,541 |
|
-Intangibles |
23,292,755 |
14,696,417 |
28,513,417 |
|
-Others |
549,753,921 |
549,753,921 |
563,093,921 |
|
Total Liabilities |
15,240,450,244 |
21,494,205,887 |
24,128,357,134 |
|
Current Liabilities |
11,692,592,145 |
15,897,423,069 |
17,173,821,649 |
|
Fixed Liabilities |
3,547,858,099 |
5,596,782,818 |
6,954,535,485 |
|
Capital Stock |
4,050,000,000 |
4,050,000,000 |
4,050,000,000 |
|
Capital Surplus |
9,934,961,265 |
9,934,961,265 |
9,934,961,265 |
|
Profit Surplus |
21,663,774,599 |
18,622,995,063 |
15,018,922,942 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
35,648,735,864 |
32,607,956,328 |
29,003,884,207 |
|
Liab. & Shareholder’s Equity |
50,889,186,108 |
54,102,162,215 |
53,132,241,341 |
|
Current Liabilities |
11,692,592,145 |
15,897,423,069 |
17,173,821,649 |
|
Trade Payables |
4,571,429,146 |
5,250,056,980 |
5,720,207,679 |
|
Short-Term Borrowings |
3,035,790,935 |
6,000,000,000 |
7,826,682,149 |
|
Current Portion of Long-Term Debts |
2,105,159,550 |
2,118,948,800 |
- |
|
Account Payables |
383,935,601 |
402,914,504 |
310,511,377 |
|
Advance Receipts |
51,188,650 |
50,396,426 |
16,365,577 |
|
Withholdings |
41,470,930 |
39,905,660 |
30,691,960 |
|
VAT Withhold |
373,377,635 |
366,568,808 |
277,055,637 |
|
Accrued Expenses |
717,494,351 |
647,808,641 |
582,794,548 |
|
Current Portion of Long-Term Debts |
- |
- |
2,130,281,100 |
|
Deferred Income Tax Credit |
412,745,347 |
1,020,823,250 |
279,231,622 |
|
Fixed Liabilities |
3,547,858,099 |
5,596,782,818 |
6,954,535,485 |
|
Long-Term Borrowings |
2,387,523,850 |
4,492,683,400 |
5,911,632,200 |
|
Leasehold Deposit Received |
269,000,000 |
261,000,000 |
256,000,000 |
|
Provision for Severance & Retirement |
1,025,082,390 |
938,130,290 |
854,962,330 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
59,073,425,422 |
61,767,184,813 |
57,802,933,509 |
|
Cost of Sold Goods |
49,267,604,810 |
51,485,646,952 |
47,828,571,294 |
|
Gross Profit |
9,805,820,612 |
10,281,537,861 |
9,974,362,215 |
|
Selling & Admin. Expenses |
4,934,627,371 |
4,619,477,514 |
4,408,072,645 |
|
Operating Income |
4,871,193,241 |
5,662,060,347 |
5,566,289,570 |
|
Non-Operating Income |
130,256,322 |
169,449,449 |
103,499,046 |
|
Non-Operating Expenses |
590,615,940 |
712,739,915 |
882,828,842 |
|
Income Before Taxes |
4,410,833,623 |
5,118,769,881 |
4,786,959,774 |
|
Income Taxes Expenses |
869,529,167 |
1,109,697,760 |
281,010,831 |
|
Net Income |
3,541,304,456 |
4,009,072,121 |
4,505,948,943 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
4,801,539,083 |
5,851,159,874 |
4,360,257,760 |
|
-Net Income |
3,541,304,456 |
4,009,072,121 |
4,505,948,943 |
|
-Exp. without Cash Outflow |
2,565,358,372 |
2,525,718,282 |
2,515,952,259 |
|
-Revenue without Cash Inflows |
-9,056,358 |
-54,980,665 |
-198,665,068 |
|
-Changes in Asset/ & Liability |
-1,296,067,387 |
-628,649,864 |
-2,462,978,374 |
|
Cash Flows from Investing |
-165,556,392 |
-906,749,379 |
-785,432,784 |
|
-Cash Inflow from Investing |
133,813,864 |
582,126,208 |
145,343,876 |
|
-Cash Outflows for Investing |
-299,370,256 |
-1,488,875,587 |
-930,776,660 |
|
Cash Flows from Financing |
-5,480,157,865 |
-3,656,963,249 |
-3,570,502,273 |
|
-Cash Inflows from Financing |
3,043,790,935 |
1,849,000,000 |
7,922,682,149 |
|
-Cash Outflows from Financing |
-8,523,948,800 |
-5,505,963,249 |
-11,493,184,422 |
|
Increase/Decrease in Cash |
-844,175,174 |
1,287,447,246 |
4,322,703 |
|
Cash at the Beginning of Year |
3,021,742,874 |
1,734,295,628 |
1,729,972,925 |
|
Cash at the End of Year |
2,177,567,700 |
3,021,742,874 |
1,734,295,628 |
|
Main Products & Services |
-Labels for Electronic Applications Photocopier/Computer Printer Labels,
Parts/Bar codes, Electronic Appliances, Rechargeable Battery, Mobile Phone,
Computer Components, CD/DVD Players, semiconductor -Office/Computer Labels Mailing Labels, Media Labels, Classification
Labels -Specialty Labels Battery, Iron Industry, Ship Manufacturing,
Dynamite Detonators, Fire Extinguisher Consumer Product Labels General Containers, General
Containers (Transparent) -Food Contact Labels Labels for Processed Meat such as ham,
Frozen Food Labels, Food & Beverage Labels -Bar-code/Logistics Labels Scale Labels, Barcode Labels, Shipping
Labels -Stationery/Fancy Products/Study Material
Labels Study/Teaching Material Stickers, Fancy
Stickers, File Index Labels -Labels for Clothes Clothes Brand Tags -Medical Product Labels Blood Bag Labels, Pharmaceutical Container
Labels -Automobile Industry Labels Automobile Assembly Labels, Tire Labels Consumer Products/ General promotional
Labels Advertisement Labels PAPER Art Paper, Woodfree Paper, Cast Coated
Paper, Kraft Paper, Foiled Paper (Gold, Silver Paper), Direct Thermal Paper FILM PET, PVC, White PVC, Yupo, NY, Laminating
Film, OPP, Aluminum, Nylon Textile |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
FORMTEC KOREA CO., LTD.(124411-0006420) 32-2, PUNGMU-DONG, KIMPO-SI, KYUNGGI-DO,
KOREA TEL : +82-31-982-4952 FAX : +82-31-982-4953 E-MAIL : SERVICE@FORMTEC.CO.KR HOMEPAGE : HTTP://WWW.FORMTEC.CO.KR |
|
Competitors |
SAELIM CO., LTD.(110111-0233645) 449-6, MOGOK-DONG, PYEONGTAEK-SI, GYEONGGI-DO, KOREA TEL:+82-31-666-1551~5 FAX:+82-31-666-1556 AVERY DENNISON KOREA LTD.(110111-0465195) 710-2, YONGTAN-DONG, CHUNGJU-SI, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-853-2707 FAX:+82-43-853-2705 ELIZA TAPE CO., LTD.(120111-0131871) 278-12, GEUMGOK-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-565-0123 FAX:+82-32-564-4466 |
|
Affiliates |
SKY BLUE ENTERTAINMENT CO., LTD. (33.33% held by the subject company) FORMTEC KOREA CO., LTD.(124411-0006420) 32-2, PUNGMU-DONG, KIMPO-SI, KYUNGGI-DO,
KOREA TEL : +82-31-982-4952 FAX : +82-31-982-4953 E-MAIL : SERVICE@FORMTEC.CO.KR HOMEPAGE : HTTP://WWW.FORMTEC.CO.KR |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company FIRST FIRE & MARINE INSURANCE
CO.,LTD.(110111-0017586) |
|
Sales/ Unit : KRW |
2012 |
2011 |
2010 |
|
Export |
- |
1,849,002,801 |
1,942,019,517 |
|
Domestic |
- |
59,918,182,012 |
55,860,913,992 |
|
Total |
59,073,425,422 |
61,767,184,813 |
57,802,933,509 |
The Subject deals with the companies in Taiwan, Iran, Italy, and
Pakistan.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.67 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.