|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
YOUNG`S CORPORATION |
|
|
|
|
Registered Office : |
11, Gangnam-daero 18-gil, Seocho-gu, Seoul, Korea 3rd Fl., Young`s
Bldg. 137-894 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
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 |
15 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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. South 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. South 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-Korea Free
Trade Agreement was ratified by both governments in 2011 and went into effect
in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth
because of market slowdowns in the United States, China, and the Eurozone. The
administration in 2014 is likely to face the challenge 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, dominance of large conglomerates
(chaebols), and heavy reliance on exports, which comprise about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
YOUNG`S CORPORATION |
|
Registered Address |
11, Gangnam-daero 18-gil, 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., 11, Gangnam-daero 18-gil, Seocho-gu, Seoul,
Korea (Old Address System : 3rd Fl., Young`s Bldg., 242-8, Yangjae 2-dong,
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 |
15 |
||||||||||||
|
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 |
||||||||||||
|
|
|
Management
|
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 |
M/S. |
You Ok-Ja |
Female |
Korean |
03/14/2014 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
30,988,000,000 |
9,268,000,000 |
816,000,000 |
|
|
2012 |
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 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
9,268,000,000 |
8,891,000,000 |
9,752,000,000 |
|
Current Assets |
7,542,000,000 |
7,420,000,000 |
8,209,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
1,726,000,000 |
1,471,000,000 |
1,543,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
1,438,000,000 |
1,728,000,000 |
3,228,000,000 |
|
Current Liabilities |
1,408,000,000 |
1,698,000,000 |
3,198,000,000 |
|
Fixed Liabilities |
30,000,000 |
30,000,000 |
30,000,000 |
|
Capital Stock |
500,000,000 |
- |
- |
|
Capital Surplus |
- |
500,000,000 |
500,000,000 |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
7,830,000,000 |
7,163,000,000 |
6,524,000,000 |
|
Liab. & Shareholder’s Equity |
9,268,000,000 |
8,891,000,000 |
9,752,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
30,988,000,000 |
30,560,000,000 |
28,543,000,000 |
|
Cost of Sold Goods |
26,651,000,000 |
26,398,000,000 |
24,282,000,000 |
|
Gross Profit |
4,337,000,000 |
4,162,000,000 |
4,261,000,000 |
|
Selling & Admin. Expenses |
3,433,000,000 |
3,109,000,000 |
3,324,000,000 |
|
Operating Income |
904,000,000 |
1,053,000,000 |
937,000,000 |
|
Non-Operating Income |
452,000,000 |
351,000,000 |
427,000,000 |
|
Non-Operating Expenses |
334,000,000 |
416,000,000 |
488,000,000 |
|
Income Before Taxes |
1,022,000,000 |
987,000,000 |
876,000,000 |
|
Income Taxes Expenses |
206,000,000 |
198,000,000 |
189,000,000 |
|
Net Income |
816,000,000 |
789,000,000 |
687,000,000 |
|
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 |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
SAMHWA PAINT INDUSTRIAL CO.,LTD.(110111-0014433) DAELIM INDUSTRIAL CO., LTD.(110111-0084915) |
|
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 |
|
Sales/ Unit :Mil KRW |
2013 |
2012 |
2011 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
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.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.