|
Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DONGJIN SEMICHEM CO., LTD. |
|
|
|
|
Registered Office : |
644, Baekbeom-ro, Seo-gu, Incheon 404-817 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
10.07.1973 |
|
|
|
|
Com. Reg. No.: |
137-81-07814 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Diodes, Transistors and Similar Semi-conductor Devices |
|
|
|
|
No of Employees : |
911 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
DONGJIN SEMICHEM CO., LTD. (Korean Company Name : “(주)동진쎄미켐”) |
|
Registered Address |
644, Baekbeom-ro, Seo-gu, Incheon, Korea (Old Address System : 472-2, Gajwa 3-dong, Seo-gu, Incheon, Korea) |
|
Building |
|
|
Zip Code |
404-817 |
|
Tel |
+82-32-578-5091~4 |
|
Fax |
+82-32-578-7226 |
|
E-mail |
jskim@dongjin.com;wgonlee@dongjin.com;jp0528@dongjin.com |
|
Website |
www.dongjin.com |
|
Trading
Address |
23th Fl., KGIT Center, 1601, Sangam-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-6355-6100 |
|
Fax |
+82-2-325-9459 |
|
Other
Address-Sihwa Factory |
1Ra-101, Sihwa Industrial Complex, 1236, Jeongwang-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-319-0011~6 |
|
Fax |
+82-31-319-0017 |
|
Other
Address-Balan Factory |
625-3, Yodang-ri, Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-353-6340 |
|
Fax |
+82-31-353-6459 |
|
Other
Address-Busan Branch |
4, Donggwang-dong 2-ga, Jung-gu, Busan, Korea |
|
Tel |
+82-51-246-8494 |
|
Fax |
+82-51-255-3978 |
|
Other
Address-Gumi Branch |
1074-8, Wonpyeong-dong, Gumi-si, Gyeongbuk, Korea |
|
Tel |
+82-54-457-1864 |
|
Fax |
+82-54-457-1863 |
|
Type |
Export |
|
Industry |
Manufacture
of Diodes, Transistors and Similar Semi-conductor Devices |
|
Main Business |
ArF
Photo Resist, Foaming Agents, Photoresist, Epoxy Molding Compound, Caustic
Soda |
|
Sub
Business |
Manufacture
of All Other Chemical Products n.e.c. |
|
Established (mm/dd/yyyy) |
07/10/1973 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Foaming agents(12161903) |
|
Sell |
Optical network or communication filters(43221802) |
|
Sell |
Electronic component parts and raw materials and accessories(32131000) |
|
Sell |
Coating paints(31211504) |
|
Sell |
Abrasives and abrasive media(31191500) |
|
Sell |
General purpose cleaners(47131805) |
|
Sell |
Miscellaneous finishes(31211700) |
|
Sell |
BARC(Bottom Anti-Reflective Coating) |
|
Sell |
Stripper |
|
Buy |
Ethylene Vinyl Acetate EVA(13102009) |
|
Buy |
Ethers or its substitutes(12352112) |
|
Buy |
Melamine MF(13101905) |
|
Buy |
Amines or imines or its substitutes(12352116) |
|
Buy |
Inorganic metal salts(12352302) |
|
Buy |
Organic derivatives and substituted compounds(12352100) |
|
Buy |
EEP(Ethyl 3-Ethoxy Propionate) |
|
Buy |
D-methyl sulfoxide |
|
Buy |
Hydrazodicarbonamide |
|
Buy |
Diazo chemical |
|
Buy |
Ethyl Lactate |
|
Buy |
Propylene Glicol mono methyl ether |
|
Buy |
Normal buthyl acetate |
|
Buy |
GBL(Gamma Buthyl Lactone) |
CEO’s
|
Name |
Lee Boo-Sup |
|
Address |
|
|
Date of Birth |
11/22/1937 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
21,019,262,000 |
||||||||||||||||||
|
Employees |
911 |
||||||||||||||||||
|
Formation |
Listed
Company(KOSDAQ: 005290) as
of 12/18/1999 |
||||||||||||||||||
|
Bank Details |
Korea Exchange
Bank-Shinchon Branch Kookmin Bank Korea
Development Bank Shinhan Bank Woori Bank S.C. First
Bank of Korea |
||||||||||||||||||
|
Corporate
Registered No. |
120111-0003848 |
||||||||||||||||||
|
Business
Registered No. |
137-81-07814 |
||||||||||||||||||
|
Permit &
Licenses |
12/1987 UL 04/1994 KT 08/1998 KT 11/2002 ISO
9001 10/2009 ISO
14001 Int’l Trade
No.: 740281 |
||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||
|
Company
History |
10/1967 Established as Dongjin Chemical Industry Co. 07/10/1973 Incorporated as Dongjin Chemical Industry Co., Ltd. 08/10/1995 Acquired Kumjin Distribution Co., Ltd. 08/27/1999 Changed company name to the present name 12/18/1999 Listed at KOSDAQ Market 12/2010 Awarded US$ 200 Million Export Top Prize |
||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of
Birth |
Education |
|
Chairman
& CEO |
Mr. |
Lee Boo-Sup |
Korean |
1937.11.22 |
Seoul National University |
|
President
& CEO |
Mr. |
Lee Joon-Hyuck |
Korean |
1967. 05.26 |
Seoul National University |
|
President |
Mr. |
Lee Joon-Kyu |
Korean |
1964.03 |
Yonsei University, Korea |
|
Sr.
Executive Director |
Mr. |
Jung Yong-Hak |
Korean |
1965.03 |
- |
|
Outside
Director |
Mr. |
Lee Sang-Sub |
Korean |
1937.01 |
Yonsei University, Korea |
|
Outside
Director |
Mr. |
Lee Jin-Ho |
Korean |
1937.05 |
- |
|
Outside
Director |
Mr. |
Lee Hwa-Young |
Korean |
1937. 04.21 |
Seoul National University |
|
Auditor |
Mr. |
Kim Wan-Jung |
Korean |
1938. 03.14 |
Yonsei University |
Financials
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
(*)03/2014 |
134,431,235,340 |
547,147,123,228 |
4,787,536,372 |
|
(*)2013 |
551,737,987,819 |
533,833,650,194 |
17,100,321,520 |
|
(*)2012 |
527,305,207,994 |
515,077,372,402 |
13,093,238,928 |
|
2011 |
441,224,831,378 |
464,260,244,933 |
-5,559,272,930 |
|
2010 |
408,644,566,213 |
435,975,043,706 |
13,007,063,195 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
21,019,262,000 |
|
Total Issued Shares |
42,038,524 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
547,147,123,228 |
533,833,650,194 |
515,077,372,402 |
|
Current Assets |
215,828,934,005 |
201,602,070,109 |
185,324,790,511 |
|
Cash & Cash
Equivalents |
10,276,763,740 |
8,493,024,982 |
14,840,010,464 |
|
Current Financial
Instruments |
598,752,000 |
635,455,602 |
20,000,000 |
|
Trade Receivables
& Other Receivables |
109,445,950,690 |
102,529,652,344 |
99,991,863,784 |
|
Inventories |
46,831,521,454 |
42,108,535,451 |
47,468,764,125 |
|
Other Current Assets |
48,675,946,121 |
47,835,401,730 |
23,004,152,138 |
|
Non-Current Assets |
331,318,189,223 |
332,231,580,085 |
329,752,581,891 |
|
Tangibles |
174,941,606,685 |
177,405,119,686 |
183,700,499,893 |
|
Investment_Real
Estates |
14,943,896,109 |
14,982,231,495 |
15,135,573,033 |
|
Intangibles |
21,507,612,847 |
21,165,066,807 |
21,504,182,052 |
|
Non-Current Financial
Instruments |
678,643,252 |
627,643,252 |
473,643,252 |
|
Marketable Financial
Instruments |
3,058,764,000 |
3,058,764,000 |
3,058,764,000 |
|
Investment_Subsidiaries |
97,980,716,128 |
98,116,255,702 |
87,320,855,702 |
|
Investment_Related
Companies |
0 |
0 |
4,083,148,997 |
|
Deferred Income Tax
Assets |
8,612,813,130 |
7,548,763,428 |
5,868,028,685 |
|
Non-Current Assets to be Sold |
315,333,171 |
315,333,171 |
0 |
|
Long-Term Trade
Receivables |
9,269,517,164 |
8,288,091,807 |
6,662,762,070 |
|
Other Non-Current
Assets |
9,286,737 |
724,310,737 |
1,945,124,207 |
|
Total
Liabilities |
374,458,545,125 |
363,410,297,023 |
362,771,037,936 |
|
Current Liabilities |
305,741,689,098 |
289,401,880,823 |
299,587,928,028 |
|
Trade Payables &
Other Payables |
34,218,273,332 |
33,086,635,495 |
35,516,791,456 |
|
Short-Term Borrowings |
260,871,794,885 |
248,571,916,490 |
254,048,255,284 |
|
Other Current
Financial Debts |
1,629,205,364 |
1,736,017,856 |
1,671,082,812 |
|
Deferred Income Tax
Credit |
2,110,901,400 |
2,076,902,328 |
2,448,900,534 |
|
Other Current Liabilities |
6,911,514,117 |
3,930,408,654 |
5,902,897,942 |
|
Non-Current Liabilities |
68,716,856,027 |
74,008,416,200 |
63,183,109,908 |
|
Long-Term Trade
Payables & Other Payables |
2,634,641,513 |
2,884,402,138 |
3,057,586,087 |
|
Long-Term Borrowings |
48,204,399,958 |
53,872,958,352 |
44,592,337,900 |
|
Other Non-Current
Financial Debts |
567,095,725 |
888,049,367 |
2,624,067,223 |
|
Provision for
Severance & Retirement |
9,006,218,831 |
8,062,306,343 |
7,055,245,298 |
|
Other Non-Current
Liabilities |
8,304,500,000 |
8,300,700,000 |
5,853,873,400 |
|
Capital Stock |
21,019,262,000 |
21,019,262,000 |
21,019,262,000 |
|
Capital Surplus |
71,315,421,611 |
71,315,421,611 |
67,614,455,446 |
|
Others |
19,457,138,645 |
19,457,138,645 |
19,457,138,645 |
|
Profit Surplus |
60,896,755,847 |
58,631,530,915 |
44,215,478,375 |
|
Total Equity |
172,688,578,103 |
170,423,353,171 |
152,306,334,466 |
|
Liab. &
Shareholder’s Equity |
547,147,123,228 |
533,833,650,194 |
515,077,372,402 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
134,431,235,340 |
551,737,987,819 |
527,305,207,994 |
|
Cost of Sold Goods |
113,505,754,828 |
473,117,543,235 |
457,446,794,658 |
|
Gross Profit |
20,925,480,512 |
78,620,444,584 |
69,858,413,336 |
|
Logistics |
2,454,317,911 |
10,982,404,551 |
10,237,109,495 |
|
Selling & Admin.
Expenses |
7,283,714,624 |
23,851,616,638 |
20,608,107,090 |
|
R&D |
3,402,933,178 |
14,107,727,288 |
13,517,607,602 |
|
Operating Income |
7,784,514,799 |
29,678,696,107 |
25,495,589,149 |
|
Finance Income |
163,259,308 |
1,158,569,427 |
1,441,779,878 |
|
Finance Expenses |
3,619,734,922 |
15,073,082,220 |
15,145,245,211 |
|
Non-Operating Profits |
330,037,403 |
3,313,154,197 |
3,495,818,758 |
|
Income Before Taxes |
4,658,076,588 |
19,077,337,511 |
15,287,942,574 |
|
Income Taxes Expenses |
129,459,784 |
-1,977,015,991 |
-2,194,703,646 |
|
Net Income |
4,787,536,372 |
17,100,321,520 |
13,093,238,928 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Operating
Activities Cash Flows |
178,281,748 |
19,177,400,364 |
25,834,738,750 |
|
Net Income |
4,787,536,372 |
17,100,321,520 |
13,093,238,928 |
|
Adjustment |
-508,724,471 |
18,852,464,896 |
25,864,088,872 |
|
Interests Received |
88,554,578 |
667,735,260 |
1,216,514,947 |
|
Interests Paid |
-3,288,493,885 |
-13,939,896,952 |
-15,196,028,849 |
|
Income Taxes Received |
0 |
0 |
403,860,545 |
|
Income Taxes Paid |
-900,590,846 |
-3,984,068,609 |
-17,489,315 |
|
Dividends Received |
0 |
480,844,249 |
470,553,622 |
|
Cash Flows from Investing |
-3,959,636,519 |
-32,681,197,164 |
-44,843,973,598 |
|
Cash Flows from Financing |
6,176,654,836 |
7,788,350,247 |
20,266,433,622 |
|
Increase/Decrease in Cash |
1,783,738,758 |
-6,346,985,482 |
654,421,440 |
|
Cash at the Beginning
of Year |
8,493,024,982 |
14,840,010,464 |
14,185,589,024 |
|
Cash at the End of
Year |
10,276,763,740 |
8,493,024,982 |
14,840,010,464 |
Products, Technologies,
Services Description
|
Main Products
& Services |
PHOTORESISTS BARCS THINNERS STRIPPERS DEVELOPERS CMP SLURRIES Brand Name:
DPR, DNR, UNICELL |
Trade Partners &
Competitors
|
Suppliers |
ATAKA-SOLVENT MIWON COMMERCIAL
CO.,LTD.(130111-0007707)-PAC DIC KOR-RESIN SOPO |
|
Customers |
SAMSUNG
ELECTRONICS CO,.LTD.(130111-0006246) SAMSUNG
CORPORATION(110111-0002975) LG.PHILIPS LCD
CO., LTD.(110111-0393134) HYNIX
SEMICONDUCTOR INC(134411-0001387) |
|
Competitors |
TOK-JAPAN SUMITOMO-JAPAN CLARIANT-SWISS SHINETSU-JAPAN SHIPLEY-USA JSR-JAPAN FUJI
FILM-JAPAN |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DONGJIN DISPLAY MATERIALS CO., LTD.(135511-0190848) (100.00% held by the subject company) SINAM REFINED FUEL CO., LTD.(164911-0009012) (69.63% held
by the subject company) |
|
Subsidiary |
TAIWAN DONGJIN
HWASUNG CO., LTD. (89.38% held
by the subject company) NO.21 HSIENGONG NORTH 1ST RD, CHANGBIN IND. COMPLEX, CHANG
HUAHSIEN, TAIWAN R.O.C BEIJING
DONGJIN SEMICHEM CO., LTD. (100.0% held
by the subject company) NO 10, XINGYEJIE, BDA, BEIJING , CHINA, 100176 DONGJIN
ELECTRONIC MATERIALS CO., LTD. (100.0% held
by the subject company) BINHAI INDUSTRY AREA QIDONG ECONOMIC DEVELOPMENT ZOON
QIDONG CITY JIANGSU, CHINA DONGJIN SEMICHEM(SEOAN) CO., LTD. (100.0% held
by the subject company) ROOM 2013, BLOCK B, GREENLAND SOHO LEAGUE, JINYE ROAD,
HI-TECH DEVELOPMENT ZONE, XIAN CITY, SHAANXI , CHINA EODOSI DONGJIN SEMICHEM ELECTRONIC MATERIALS CO., LTD. (100.0% held
by the subject company) 90, BUILDING 1, NO 13, TIANJIAO-RD, DONGSHENG DISTRICT,
ORDOS, INNER MONGOLIA, CHINA PT.DONGJIN INDONESIA (27.53% held by the subject company) DONGJIN TECHNOLOGY INC (100.00% held by
the subject company) |
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2012DA84004 |
|
The
Subject Company |
Kim
Sang-Moon |
- |
643,465,400 |
Proceeding |
|
2012NA104382 |
|
The
Subject Company |
Kim
Sang-Moon |
Claim
for Compensation from Damages |
1,044,834,284 |
Proceeding |
|
2013NA11678 |
|
The
Subject Company |
Syber
Logic Ink & Mobile Project |
- |
1,050,000,000 |
Proceeding |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.