|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
OH YOUNG CO.,
LTD. |
|
|
|
|
Registered Office : |
102, Somanggongwon-ro, Siheung-si, Gyeonggi-do, Korea 1Ra-402, Sihwa Industrial Complex 429-914 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
20.08.1981 |
|
|
|
|
Com. Reg. No.: |
128-81-02417 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares |
|
|
|
|
Line of Business : |
Manufacture of Surface-Active Agents |
|
|
|
|
No. of Employees : |
160 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
OH YOUNG CO.,
LTD. (Ex. Company Name
: OH YOUNG INDUSTRIAL CO., LTD., “오영산업(주)”) (Korean Company Name : “오영(주)”) |
|
Registered
Address |
102, Somanggongwon-ro, Siheung-si, Gyeonggi-do, Korea (Old Address System ; 1250-1, Jeongwang 3-dong,
Siheung-si, Gyeonggi-do, Korea) |
|
Building |
1Ra-402, Sihwa Industrial Complex |
|
Zip Code |
429-914 |
|
Tel |
+82-31-499-2781 |
|
Fax |
+82-31-499-2785 |
|
E-mail |
ohyoung@ohyoung.net |
|
Website |
www.ohyoung.net |
|
Trading Address |
6th Fl., Sem Top Bldg., 59, Singil-ro, Yeongdeungpo-gu, Seoul, Korea (Old Address System : 6th Fl., Sem Top Bldg., 448-16, Singil 5-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Other Address-Munsan Factory |
685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning
Materials and Other Coloring Agents |
|
Main Business |
Reactive Dyes, Disperse Dyes, Acid Dyes, Direct Dyes, Ink |
|
Sub Business |
Manufacture of Surface-Active Agents |
|
Established
(mm/dd/yyyy) |
08/20/1981 |
The Subject owns
the premises of registered HQ address and Munsan Factory.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Phthalein dyes(12171502) |
|
Sell |
Dyes(12171500) |
|
Sell |
Ink and lead refills(44121900) |
|
Sell |
Reactive Dyestuffs |
CEO’s
|
Name |
Chung Hong-Key |
|
Address |
Suite C-4103,
467, Dogok-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
135-270 |
|
Title |
Chairman &
CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
500,000,000 |
|||||||||||||||||||||||||||
|
Employees |
160 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by
shares |
|||||||||||||||||||||||||||
|
Bank Details |
Industrial
Bank of Korea Shinhan Bank Korea Exchange
Bank |
|||||||||||||||||||||||||||
|
Corporate Registered
No. |
115611-0001071 |
|||||||||||||||||||||||||||
|
Business
Registered No. |
128-81-02417 |
|||||||||||||||||||||||||||
|
Permit &
Licenses |
The subject
became the first member of ETAD(Ecological and Toxicological Association of Dyes
and Organic Pigments Manufacturers) among the Korean dyestuff makers in 1995. The subject
obtained ISO14001 certificate in Shi-wha factory from TUV Rheinland(Germany)
in 07/1999. And two
patents acquired. |
|||||||||||||||||||||||||||
|
Shareholder
Position |
|
|||||||||||||||||||||||||||
|
Company
History |
08/20/1981 Incorporated as OH YOUNG INDUSTRIAL CO., LTD. 12/29/2005 Moved to the present HQ address from 685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea 12/23/2013 Changed company name to the present name |
|||||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Chairman &
CEO |
Mr. |
Chung Hong-Key |
Male |
Korean |
08/07/2000 |
|
President
& CEO |
Mr. |
Chung Jin-Wook |
Male |
Korean |
12/23/2013 |
|
Director |
Mr. |
Chung Yoong-Sung |
Male |
Korean |
05/18/1999 |
|
Director |
Mr. |
Lee Jeong-Bok |
Male |
Korean |
05/18/2005 |
|
Director |
Mr. |
Kim Seung-Nyon |
Male |
Korean |
06/09/2006 |
|
Auditor |
M/S. |
Chung Mi-Ji |
Female |
Korean |
03/31/2007 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
124,086,226,732 |
93,916,560,057 |
2,383,340,607 |
|
|
2011 |
105,130,676,018 |
99,986,861,963 |
382,378,575 |
|
2010 |
124,043,426,197 |
87,348,800,177 |
1,741,882,927 |
|
2009 |
108,395,349,366 |
80,441,551,720 |
3,975,474,880 |
|
2008 |
91,048,721,052 |
76,444,332,558 |
2,723,092,632 |
|
2007 |
66,813,636,284 |
69,239,217,069 |
861,986,827 |
|
2006 |
61,739,691,331 |
62,326,139,922 |
452,416,555 |
|
2005 |
52,031,979,901 |
58,844,442,062 |
307,938,785 |
|
2004 |
50,344,436,618 |
57,709,001,059 |
775,480,083 |
|
2003 |
50,022,950,927 |
58,257,822,559 |
604,220,322 |
Financial Description
|
Authorized
Capital(KRW) |
1,200,000,000 |
|
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 |
93,916,560,057 |
99,986,861,963 |
87,348,800,177 |
|
Current Assets |
70,578,745,363 |
75,350,686,321 |
63,379,610,484 |
|
-Quick Assets |
40,462,199,566 |
38,779,079,499 |
37,017,092,556 |
|
-Inventories |
30,116,545,797 |
36,571,606,822 |
26,362,517,928 |
|
Fixed Assets |
23,337,814,694 |
24,636,175,642 |
23,969,189,693 |
|
-Investment |
3,422,090,895 |
3,201,475,496 |
3,168,861,140 |
|
-Tangibles |
19,341,720,251 |
21,050,695,386 |
20,398,914,059 |
|
-Intangibles |
89,371,875 |
23,646,760 |
33,884,094 |
|
-Others |
484,631,673 |
360,358,000 |
367,530,400 |
|
Total
Liabilities |
45,675,873,973 |
53,999,353,526 |
41,743,670,315 |
|
Current
Liabilities |
39,401,107,794 |
48,173,429,979 |
35,889,650,978 |
|
Fixed
Liabilities |
6,274,766,179 |
5,825,923,547 |
5,854,019,337 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital
Surplus |
9,191,920,822 |
9,191,920,822 |
9,191,920,822 |
|
Profit Surplus |
38,548,765,262 |
36,295,587,615 |
35,913,209,040 |
|
Capital
Adjustment |
|
|
|
|
Total Equity |
48,240,686,084 |
45,987,508,437 |
45,605,129,862 |
|
Liab. &
Shareholder’s Equity |
93,916,560,057 |
99,986,861,963 |
87,348,800,177 |
|
Current
Liabilities |
39,401,107,794 |
48,173,429,979 |
35,889,650,978 |
|
Trade Payables |
3,589,547,502 |
3,946,544,010 |
4,380,541,838 |
|
Short-Term Borrowings |
30,546,066,391 |
39,667,403,261 |
27,776,308,403 |
|
Account Payables |
223,400,000 |
784,854,468 |
17,100,000 |
|
Accrued Expenses |
3,589,888,377 |
3,098,687,577 |
2,849,909,877 |
|
Withholdings |
615,335,433 |
440,457,341 |
354,803,109 |
|
Advance Receipts |
327,458,131 |
91,185,282 |
226,739,341 |
|
Accrued Income Tax |
285,325,740 |
39,167,370 |
160,204,990 |
|
Provision for Products Guarantee |
124,086,220 |
105,130,670 |
124,043,420 |
|
Current
Portion of Long-Term Borrowings |
100,000,000 |
- |
- |
|
Fixed
Liabilities |
6,274,766,179 |
5,825,923,547 |
5,854,019,337 |
|
Long-Term Borrowings |
1,754,000,000 |
1,854,000,000 |
1,854,000,000 |
|
Provision for Severance & Retirement |
8,884,756,390 |
7,984,689,880 |
7,601,970,840 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
124,086,226,732 |
105,130,676,018 |
124,043,426,197 |
|
Cost of Sold
Goods |
110,029,185,881 |
92,152,188,862 |
107,990,031,585 |
|
Gross Profit |
14,057,040,851 |
12,978,487,156 |
16,053,394,612 |
|
Selling &
Admin. Expenses |
11,081,836,595 |
10,923,379,684 |
12,679,972,122 |
|
Operating
Income |
2,975,204,256 |
2,055,107,472 |
3,373,422,490 |
|
Non-Operating
Income |
2,687,346,016 |
1,816,702,275 |
2,391,075,587 |
|
Non-Operating
Expenses |
2,941,694,485 |
3,336,588,403 |
3,468,642,070 |
|
Income Before
Taxes |
2,720,855,787 |
535,221,344 |
2,295,856,007 |
|
Income Taxes
Expenses |
337,515,180 |
152,842,769 |
553,973,080 |
|
Net Income |
2,383,340,607 |
382,378,575 |
1,741,882,927 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Cash Flows
from Operating |
8,583,846,490 |
-9,217,010,173 |
3,017,834,077 |
|
-Net Income |
2,383,340,607 |
382,378,575 |
1,741,882,931 |
|
-Exp. without
Cash Outflow |
3,707,595,583 |
6,140,861,510 |
5,196,341,689 |
|
-Revenue
without Cash Inflows |
-1,255,572,611 |
-722,733,439 |
-348,838,268 |
|
-Changes in
Asset/ & Liability |
3,748,482,911 |
-15,017,516,819 |
-3,571,552,275 |
|
Cash Flows
from Investing |
-903,971,957 |
-3,562,070,907 |
-4,578,813,636 |
|
-Cash Inflow
from Investing |
4,454,914,082 |
966,274,673 |
1,357,337,581 |
|
-Cash Outflows
for Investing |
-5,358,886,039 |
-4,528,345,580 |
-5,936,151,217 |
|
Cash Flows from
Financing |
-7,894,690,454 |
11,512,456,822 |
2,801,044,688 |
|
-Cash Inflows
from Financing |
76,201,900,662 |
88,037,081,360 |
88,239,229,813 |
|
-Cash Outflows
from Financing |
-84,096,591,116 |
-76,524,624,538 |
-85,438,185,125 |
|
Increase/Decrease
in Cash |
-214,815,921 |
-1,266,624,258 |
1,240,065,129 |
|
Cash at the
Beginning of Year |
808,715,824 |
2,075,340,082 |
835,274,953 |
|
Cash at the
End of Year |
593,899,903 |
808,715,824 |
2,075,340,082 |
Products, Technologies,
Services Description
|
Main Products
& Services |
Reactive Dyes Disperse Dyes Acid Dyes Direct Dyes Ink Petrochemical
Raw Materials Inorganic
Chemical & Fertilizer Brand Name:
“Suncolours”, “Suncid”, “Sunrrect”, “Suntex”, “Sunfix Sufra” |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
HANA CAPITAL CO., LTD.(110111-0519970) provides vehicles
leasing service to the subject company. |
|
Customers |
|
|
Competitors |
COLORANT COREA
CORPORATION 782-4,
EOGOK-DONG, YANGSAN-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-388-9003 FAX:+82-55-388-9006 MYUNGJIN
TRADING CO., LTD. 4TH FL.,
MYEONGJIN BLDG., 236-7, NONHYEON 2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-546-5040 FAX:+82-2-546-6566 YOOJIN
CHEMICAL CO., LTD. 8B-28L, BANWOL
INDUSTRIAL COMPLEX, 743-7, WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO,
KOREA TEL:+82-31-494-0618 FAX:+82-31-494-0617 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SEM INC.(110111-2013681) 1250-2,
JEONGWANG-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-434-8390 |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
-Insured
Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit
:Mil KRW |
2012 |
2011 |
2010 |
|
Export |
71,033,847,020 |
52,091,535,794 |
72,253,498,749 |
|
Domestic |
52,987,182,483 |
52,910,921,725 |
51,749,290,903 |
|
Others |
65,197,229 |
128,218,499 |
40,636,545 |
|
Total |
124,086,226,732 |
105,130,676,018 |
124,043,426,197 |
The subject
deals with the companies in China, India, Turkey, USA and Pakistan.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.