|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
JIN WOONG
INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
35, Buheung-ro 882beon-gil, Gwangjeok-myeon,
Yangju-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.06.1989 |
|
|
|
|
Com. Reg. No.: |
127-81-15151 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
|
|
|
|
No. of Employees : |
71 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
KOREA (SOUTH) - 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 |
JIN WOONG
INDUSTRIAL CO., LTD. (Korean Company
Name : “(주)진웅산업”) |
|
Registered Address |
35, Buheung-ro 882beon-gil, Gwangjeok-myeon,
Yangju-si, Gyeonggi-do, Korea (Old Address System : 619-1, Ganap -ri,
Gwangjeok-myeon, Yangju-si, Gyeonggi-do, Korea) |
|
Zip Code |
482-841 |
|
Tel |
+82-31-837-6005 |
|
Fax |
+82-31-837-6006 |
|
E-mail |
webmaster@lecotan.com |
|
Website |
www.lecotan.com |
|
Trading Address |
432-6, Beon 2-dong, Gangbuk-gu, Seoul,
Korea |
|
Tel |
+82-2-988-5135 |
|
Fax |
+82-2-987-3183 |
|
Other Address-2nd Factory |
666-9, Sangsu-ri, Nam-myeon, Yangju-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-837-6005 |
|
Fax |
+82-31-837-6006 |
|
Type |
Export |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
|
Main Business |
Dyestuffs for Leather |
|
Established (mm/dd/yyyy) |
06/22/1989 |
The Subject owns the
premises of registered HQ address and 2nd Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dyes(12171500) |
CEO’s
|
Name |
Lee Jong-Myung |
|
Address |
Suite 101-1501, 1444-7, Seocho-dong,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
08/17/1948 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,500,000,000 |
||||||||||||||||||
|
Employees |
71 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Shinhan Bank Industrial Bank of Korea |
||||||||||||||||||
|
Corporate Registered No. |
110111-0634752 |
||||||||||||||||||
|
Business Registered No. |
127-81-15151 |
||||||||||||||||||
|
Permit & Licenses |
07/05/1997 ISO 9001 by LLOYD 07/30/1999 ISO 14001 by LLOYD Int’l Trade No.: 430735 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
06/22/1989 Incorporated 07/10/1990 Changed company name to the
present name |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jong-Myung |
Male |
Korean |
03/30/2002 |
|
Director |
Mr. |
Lee Jung-Il |
Male |
Korean |
03/30/2002 |
|
Director |
Mr. |
Kim Jong-Woong |
Male |
Korean |
03/30/2002 |
|
Director |
Mr. |
Kim Seung-Bum |
Male |
Korean |
03/30/2014 |
|
Auditor |
Mr. |
Jung Han-Young |
Male |
Korean |
03/30/2005 |
|
Supervisor |
Mr. |
Kim Dong-Min |
Male |
Korean |
11/05/2007 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
9,718,383,943 |
17,474,836,540 |
-2,340,470,368 |
|
|
2012 |
8,854,290,559 |
13,172,555,413 |
65,650,773 |
|
2011 |
9,059,996,298 |
10,397,282,706 |
-1,262,638,242 |
|
2010 |
11,033,493,440 |
10,984,025,996 |
-844,088,703 |
|
2009 |
9,499,861,691 |
12,127,873,682 |
899,692,803 |
|
2008 |
9,204,551,619 |
12,159,579,724 |
-727,896,249 |
|
2007 |
10,943,625,996 |
11,493,954,146 |
-149,109,001 |
|
2006 |
11,356,233,989 |
11,810,005,914 |
471,452,395 |
|
2005 |
10,815,930,326 |
11,266,068,839 |
367,383,132 |
Financial
Description
|
Authorized Capital(KRW) |
3,200,000,000 |
|
Paid-Up Capital(KRW) |
1,500,000,000 |
|
Total Issues Shares |
150,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
17,474,836,540 |
13,172,555,413 |
10,397,282,706 |
|
Current Assets |
8,021,655,234 |
7,107,265,940 |
5,747,947,915 |
|
-Quick Assets |
4,139,131,180 |
3,782,831,235 |
2,956,669,388 |
|
-Inventories |
3,882,524,054 |
3,324,434,705 |
2,791,278,527 |
|
Fixed Assets |
9,453,181,306 |
6,065,289,473 |
4,649,334,791 |
|
-Investment |
274,300,000 |
385,140,000 |
230,700,000 |
|
-Tangibles |
9,019,311,560 |
5,605,879,727 |
4,344,365,045 |
|
-Intangibles |
159,569,746 |
74,269,746 |
74,269,746 |
|
Total Liabilities |
12,965,236,688 |
8,783,067,703 |
6,073,445,769 |
|
Current Liabilities |
5,173,164,884 |
3,258,959,498 |
1,573,471,304 |
|
Fixed Liabilities |
7,792,071,804 |
5,524,108,205 |
4,499,974,465 |
|
Capital Stock |
1,500,000,000 |
1,500,000,000 |
1,500,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
549,017,342 |
2,889,487,710 |
2,823,836,937 |
|
Capital Adjustment |
2,460,582,510 |
|
|
|
Total Equity |
4,509,599,852 |
4,389,487,710 |
4,323,836,937 |
|
Liab. & Shareholder’s Equity |
17,474,836,540 |
13,172,555,413 |
10,397,282,706 |
|
Current Liabilities |
5,173,164,884 |
3,258,959,498 |
1,573,471,304 |
|
Trade Payables |
612,971,967 |
1,280,152,549 |
334,565,055 |
|
Account Payables |
191,867,553 |
214,244,026 |
154,154,099 |
|
Withholdings |
77,153,990 |
49,985,030 |
39,531,540 |
|
Short-Term Borrowings |
4,095,000,000 |
1,345,000,000 |
875,000,000 |
|
Accrued Expenses |
196,171,374 |
157,290,430 |
170,220,610 |
|
Short-Term Borrowings to Shareholders/ Executives/
Employees |
- |
212,287,463 |
- |
|
Fixed Liabilities |
7,792,071,804 |
5,524,108,205 |
4,499,974,465 |
|
Long-Term Borrowings |
3,948,400,000 |
1,796,900,000 |
635,900,000 |
|
Provision for
Severance & Retirement |
3,862,722,104 |
3,746,258,505 |
3,883,124,765 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
9,718,383,943 |
8,854,290,559 |
9,059,996,298 |
|
Cost of Sold Goods |
9,253,900,353 |
6,928,037,713 |
7,313,059,730 |
|
Gross Profit |
464,483,590 |
1,926,252,846 |
1,746,936,568 |
|
Selling & Admin. Expenses |
2,529,044,740 |
1,746,841,612 |
2,923,329,739 |
|
Operating Income |
-2,064,561,150 |
179,411,234 |
-1,176,393,171 |
|
Non-Operating Income |
174,247,404 |
114,993,940 |
162,936,390 |
|
Non-Operating Expenses |
450,156,622 |
228,754,401 |
249,181,461 |
|
Income Before Taxes |
-2,340,470,368 |
65,650,773 |
-1,262,638,242 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
-2,340,470,368 |
65,650,773 |
-1,262,638,242 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
-3,171,336,592 |
1,301,580 |
-466,984,581 |
|
-Net Income |
-2,340,470,368 |
65,650,773 |
-1,262,638,242 |
|
-Exp. without Cash Outflow |
590,926,148 |
324,138,228 |
904,268,402 |
|
-Revenue without Cash Inflows |
|
|
-19,461,634 |
|
-Changes in Asset/ & Liability |
-1,421,792,372 |
-388,487,421 |
-89,153,107 |
|
Cash Flows from Investing |
-1,344,899,602 |
-1,734,840,000 |
-267,186,718 |
|
-Cash Inflow from Investing |
110,840,000 |
|
19,463,634 |
|
-Cash Outflows for Investing |
-1,455,739,602 |
-1,734,840,000 |
-286,650,352 |
|
Cash Flows from Financing |
4,689,212,537 |
1,843,287,463 |
535,900,000 |
|
-Cash Inflows from Financing |
4,901,500,000 |
1,843,287,463 |
535,900,000 |
|
-Cash Outflows from Financing |
-212,287,463 |
- |
- |
|
Increase/Decrease in Cash |
172,976,343 |
109,749,043 |
-198,271,299 |
|
Cash at the Beginning of Year |
382,469,150 |
272,720,107 |
470,991,406 |
|
Cash at the End of Year |
555,445,493 |
382,469,150 |
272,720,107 |
Products, Technologies, Services Description
|
Main Products & Services |
Dyestuffs Brand Name : LECOTAN |
Trade Partners & Competitors
|
Competitors |
CANKO MARKETING INC. RM. 614, CENTRAL TOWER, 494, UIJEONGBU
2-DONG, UIJEONGBU-SI, GYEONGGI-DO, KOREA TEL:+82-31-821-8774 FAX:+82-31-821-8776 NATO CORPORATION LTD. 73, YONGAM-RI, EUNHYEON-MYEON, YANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-862-8181 FAX:+82-31-864-4294 RHEESOO DYES & CHEMICALS CO., LTD. 6TH FL., YEONGSANG BLDG., 397-17,
DAEBANG-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-825-8541 FAX:+82-2-824-4294 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SHANGHAI HANWOONG DYES CHEMICAL CO.,
LTD.(CHINA) |
|
Overseas Office |
SHANGAHI OFFICE, CHINA TEL: +86 21 5977 0520 FAX:+FAX + 86 21 5977
0947 BEIJING OFFICE, CHINA TEL: +86 1370 118 4822 FAX:+86 10 6432 0345 GQANGZHOU OFFICE, CHINA TEL: +86 20 2223 3185 FAX:+86 20 2223 3219 |
|
Cooperative Enterprise |
-Insured Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region (Activity & Markets)
The Subject exports
to China, India, Indonesia and Thailand.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.