|
Report No. : |
316905 |
|
Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOREAN AIR LINES
CO., LTD. |
|
|
|
|
Registered Office : |
260, Haneul-gil, Gangseo-gu, Seoul, Korea,
Korean Air Operations Center 157-712 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
19.06.1962 |
|
|
|
|
Com. Reg. No.: |
110-81-14794 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Airline Transportation Services, Airline Freight Transportation
Services |
|
|
|
|
No. of Employees : |
18,224 |
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 : |
Slow but correct |
|
Litigation : |
Exist |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
|
Company Name |
KOREAN AIR LINES
CO., LTD. (Trade Name :
KAL) (Korean Company
Name : “(주)대한항공”) |
|
Registered Address |
260, Haneul-gil, Gangseo-gu, Seoul, Korea |
|
Building |
Korean Air Operations Center |
|
Zip Code |
157-712 |
|
Tel |
+82-2-2656-7114 |
|
Fax |
+82-2-2656-7169 |
|
E-mail |
cyberdesk@koreanair.com |
|
Website |
www.koreanair.co.kr |
|
Trading Address |
260, Haneul-gil, Gangseo-gu, Seoul, Korea (Old Address System : 1370, Gonghang-dong,
Gangseo-gu, Seoul, Korea) |
|
Tel |
+82-2-2656-7114 |
|
Fax |
+82-2-2656-7169 |
|
Other Address |
Korean Air Bldg., 360-1,
Gonghang-dong, Gangseo-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address |
103, Daejeo 2-dong, Gangseo-gu,
Busan, Korea |
|
Tel |
+82-51-972-6219 |
|
Fax |
|
|
Other Address |
1116-6, Ponam-dong, Gangneung-si,
Gangwon-do, Korea |
|
Tel |
+82-33-651-1699 |
|
Fax |
+82-33-652-4916 |
|
Other Address |
1690-8, Ido 1-dong, Jeju-si,
Jeju-do, Korea |
|
Tel |
+82-64-750-8212 |
|
Fax |
+82-64-750-8797 |
|
Other Address-Jinju Branch |
1720-1, Guam-ri, Sacheon-eup,
Sacheon-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-853-5014 |
|
Fax |
+82-55-852-3375 |
|
Other Address |
1st FI., Jeongseok Bldg. Annex,
7-241, Jeongseok Bldg., 7-241, Sinheungdong 3-ga, Jung-gu, Incheon, Korea |
|
Tel |
+82-32-882-2008 |
|
Fax |
+82-32-885-6649 |
|
Other Address-Gimpo International
Freight Branch |
274, Gwahae-dong, Gangseo-gu, Seoul,
Korea |
|
Tel |
+82-2-2656-5032 |
|
Fax |
|
|
Other Address |
2840, Unseo-dong, Jung-gu,
Incheon, Korea |
|
Tel |
+82-32-742-5567 |
|
Fax |
+82-32-742-5678 |
|
Other Address |
400-1, Jijeo-dong, Dong-gu,
Daegu, Korea |
|
Tel |
+82-53-984-0111 |
|
Fax |
+82-53-982-4878 |
|
Pohang Branch |
402-1, Dogu 1-ri, Donghae-myeon,
Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-284-6722 |
|
Fax |
+82-54-284-5350 |
|
Seoul Passenger Branch |
41-3, Seosomun-dong, Jung-gu,
Seoul, Korea |
|
Tel |
+82-2-751-7622 |
|
Fax |
|
|
Other Address |
486-3, Topyeong-dong,
Seogwipo-si, Jeju-do, Korea |
|
Tel |
+82-64-733-2001 |
|
Fax |
+82-64-733-9377 |
|
Other Address |
567, Wondang-dong, Seo-gu,
Incheon, Korea |
|
Tel |
+82-2-2656-7180 |
|
Fax |
|
|
Other Address |
568-148, Seonosong-dong,
Wansan-gu, Jeonju-si, Jeollabuk-do, Korea |
|
Tel |
+82-63-287-0353 |
|
Fax |
|
|
Other Address-Daegu Branch |
5th FI., Dongyang Fire Bldg., 40,
Pojeong-dong, Jung-gu, Daegu, Korea |
|
Tel |
+82-53-606-2055 |
|
Fax |
+82-53-606-2099 |
|
Other Address |
7, Geumnamno 2-ga, Dong-gu,
Gwangju, Korea |
|
Tel |
+82-62-227-8775 |
|
Fax |
|
|
Other Address |
700-3, Sinjeong 1-dong, Nam-gu,
Ulsan, Korea |
|
Tel |
+82-52-271-2122 |
|
Fax |
|
|
Other Address |
77-1, Jungangdong 4-ga, Jung-gu, Busan,
Korea |
|
Tel |
+82-51-461-7102 |
|
Fax |
|
|
Other Address |
931, Dunsan-dong, Seo-gu,
Daejeon, Korea |
|
Tel |
+82-42-862-2001 |
|
Fax |
|
|
Suwon Branch |
942-9, Ingye-dong, Paldal-gu,
Suwon-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-239-3539 |
|
Fax |
+82-31-232-3532 |
|
Other Address |
Incheon International Airport
Passenger Terminal, Unseo-dong, Jung-gu, Incheon, Korea |
|
Tel |
+82-32-742-5694 |
|
Fax |
+82-32-742-5695 |
|
Other Address |
Incheon International Airport Passenger
Terminal, Unseo-dong, Jung-gu, Incheon, Korea |
|
Tel |
+82-32-742-5694 |
|
Fax |
|
|
Other Address |
Incheon International Airport
Passenger Terminal, Unseo-dong, Jung-gu, Incheon, Korea |
|
Tel |
+82-32-742-5144 |
|
Fax |
|
|
Other Address |
Korea Airlines. Inc., 1370,
Gonghang-dong, Gangseo-gu, Seoul, Korea |
|
Tel |
+82-2-2656-6572 |
|
Fax |
|
|
Other Address |
San 5-1, Ipsang-ri, Naesu-eup,
Cheongwon-gun, Chungcheongbuk-do, Korea |
|
Tel |
+82-43 214-6222 |
|
Fax |
+82-43-211-0051 |
|
Other Address |
Wonju Airport , 111-1, Gokgyo-ri,
Hoengseong-eup, Hoengseong-gun, Gangwon-do, Korea |
|
Tel |
+82-33-345-2041 |
|
Fax |
+82-33-344-0165 |
|
Type |
Import/Export |
|
Industry |
Scheduled Air Transport |
|
Main Business |
Airline Transportation Services, Airline Freight Transportation
Services |
|
Sub
Business |
Manufacture of Aircrafts, Maintenance &
Repairing Services, Food Catering Service |
|
Established (mm/dd/yyyy) |
06/19/1962 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Airline Transportation Services |
|
Sell |
Scheduled Air Transport |
|
Sell |
Banquet and catering services(90101600) |
|
Sell |
Packaged combination meals(50192700) |
|
Name |
Ji Chang-Hoon |
|
Address |
|
|
Date of Birth |
01/03/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
298,931,160,000 |
||||||||||||||||||
|
Employees |
18,224 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 003490) as of 03/19/1966 A Company of HANJIN GROUP Foreign Direct Investment Corporation |
||||||||||||||||||
|
Bank Details |
Kookmin Bank Woori Bank |
||||||||||||||||||
|
Corporate Registered No. |
110111-0108484 |
||||||||||||||||||
|
Business Registered No. |
110-81-14794 |
||||||||||||||||||
|
Permit & Licenses |
Awards 9/2000 ‘Business Traveller’ No.1 Frequent Flyer Program, Economy Class 2/1998 Mercury Award : Bibimbab (mixed vegetable and rice) 2/2008 Awarded the gold medal in the corporate category at the “2008
Advertisement Awards” hosted by ATW. 2/2008 Awarded the “6th Best HRD” for human resource development in
Korea. 3/2008 Awarded the “Advertisement of the Year” hosted by KOADS in the
magazine category. 3/2008 Received the Excellent Advertisement award from the Korean AD
Association in the magazine category. 4/2008 Korean Air wins two major honors at the 20th annual Freddie
awards that celebrate the best frequent flyer programs. 4/2008 - Best frequent flyer member communications in the
Japan/Pacific/Asia/Australia region 4/2008 - Best Customer Service in the Japan/Pacific/Asia/Australia
region 6/2008 Awarded the Best Brand by Dongah.com / Hankyung.com / IMBC. 6/2008 Awarded the Best Brand by Hankyung Daily. 6/2008 Certified for “Global Customer Satisfaction” by JMAC, Korean
Air placed first in air passenger transport service for the 4th consecutive
year. 6/2008 Ranked first in international freight transport for the 4th
consecutive year. 7/2008 Awarded the Best Trusted Management by Kyunghyang Daily. 10/2008 Awarded the 2008 Best Sustainable Management by Hankyung
Daily. 1/2007 Business Traveler USA ‘Best Business Class to
Asia/Trans-Pacific’ 2/2007 Business Traveller (UK) ‘Cellars in the Sky’ Best Business
Class White Wine 3/2007 Mercury Awards: Gold Medal for On-Board Service Air 4/2007 U.K. OAG ‘Airline of the Year’: Best Economy Class Award 4/2007 U.S. Boeing Company: ‘Best Business Partner’ Award 7/2007 Skytrax World Airline Awards : Best Economy Class 9/2007 World Airline Entertainment Association’s (WAEA) 2007 Avion
Awards ‘Best Achievement In Flight Entertainment’ Top 3 9/2007 ‘Best in Region – Asia & Australasia’ Top 3 12/2007 2007 Readers’ Choice Travel Survey : ‘Best Airline in Asia’
and ‘Best Transpacific Business Class’ 2/2006 ATW Phoenix Award |
||||||||||||||||||
|
Permit & Licenses |
2/2006 ‘PAX International’ : Asia's top airline for ‘Outstanding Food
Service by a Carrier’ and ‘Best New Product Launch’ 3/2006 A330 Operational Excellence Award 3/2006 Mercury Award : Bibimguksoo (Spicy Korean Noodles) 6/2006 UK’s Priority Pass : Korean Air Lounge at Incheon Airport No.1
in Asia Pacific 6/2006 World’s top commercial airline cargo operation (IATA ranking,
2nd year) 9/2006 ‘Overhaul and Maintenance’ MRO Asia Awards : Asia-Pacific Airline of the Year 10/2006 Time Readers’ Travel Choice Awards 2006 : No. 1 for Best First/Business Class and Best Frequent Flyer Program : No. 2 for Preferred Airline 11/2006 ‘PAX International’ : Airline of the Year Food Services for
2006 1/2005 IOSA Certification 6/2005 World’s top commercial airline cargo operation(IATA ranking,
1st year) 10/2005 Airbus : ‘Operational Excellence’ Award 10/2005 Boeing : ‘Outstanding Dispatch Reliability’ Award 11/2005 TIME Readers’ Travel Choice Awards 2005 11/2005 : No. 2 for Best First/Business Class, Best Economy Class,
Best Service, etc. 11/2005 : No. 5 for Preferred Airline 11/2004 Business Traveller 2004 Cellars in the Sky : Best Business and First Class Wine 2/2003 ATW Cargo Airline of the Year 7/2003 ‘Business Traveller’ Best Cellar in the Sky (2nd consecutive
year) 11/2002 Flight Safety Foundation’s Safety Award to President Y.T. Shim |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
06/19/1962 Incorporated as KOREAN AIR LINES CORPORATION operated by the Korea Government 03/1969 Changed company name to the present
name 04/2005 Moved to the present HQ address from
41-3,
Seosomun-dong, Jung-gu, Seoul, Korea 02/01/2013 Acquired Investment Business from HANJIN TRAVEL
SERVICE CO., LTD.(110111-5059533) 08/01/2013 Split off the existing company, and newly established
company, HANJIN KAL CO., LTD.(110111-5197193) |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Cho Yang-Ho |
Korean |
1949.03.08 |
University of Southern California |
|
President & CEO |
Mr. |
Ji Chang-Hoon |
Korean |
1953.01.03 |
Seoul National University, Korea |
|
Vice President & CFO |
Mr. |
Lee Sang-Kyun |
Korean |
1948.10. |
Dankuk University, Korea |
|
Vice President & CMO |
Mr. |
Cho Won-Tae |
Korean |
1976.01. |
- |
|
Advisor |
Mr. |
Lee Tae-Hee |
Korean |
1940.05.09 |
Harvard University, Korea |
|
Outside Director |
Mr. |
Park Oh-Soo |
Korean |
1952.12.24 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Lee Seok-Woo |
Korean |
1949.01.20 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Lee Yoon-Woo |
Korean |
1943.08.19 |
Korea University, Korea |
|
Outside Director |
Mr. |
Hyun Jung-Taik |
Korean |
1953.05.05 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Kim Seung-Yu |
Korean |
1943.08 |
Korea University, Korea |
|
Outside Director |
Mr. |
Bahn Jang-Sik |
Korean |
1956.06 |
Korea University, Korea |
|
Outside Director |
Mr. |
Ahn Yong-Seok |
Korean |
1962.01 |
Seoul National University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
11,680,398,139,595 |
21,420,446,969,171 |
-205,476,811,352 |
|
|
(*)2013 |
11,712,354,061,563 |
20,964,254,228,282 |
-290,459,634,454 |
|
(*)2012 |
12,261,681,009,551 |
20,678,036,299,113 |
259,596,526,787 |
|
(*)2011 |
11,803,067,820,557 |
20,222,503,362,678 |
-301,090,815,517 |
|
2010 |
11,460,521,559,526 |
17,814,309,253,916 |
461,700,871,765 |
|
2009 |
9,393,703,224,239 |
16,919,272,442,513 |
-98,895,975,758 |
|
2008 |
10,212,578,077,486 |
15,867,628,167,525 |
-1,942,429,962,956 |
|
2007 |
8,811,989,415,822 |
15,143,703,774,181 |
12,892,856,749 |
|
2006 |
8,077,871,280,841 |
13,584,705,242,346 |
383,011,754,266 |
|
2005 |
7,584,221,229,919 |
13,568,643,867,523 |
200,376,091,666 |
|
2004 |
7,210,859,204,373 |
13,738,958,567,741 |
519,492,139,397 |
|
2003 |
6,177,150,161,580 |
14,021,111,953,641 |
-238,284,405,689 |
(*)Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
1,250,000,000,000 |
|
Paid-Up Capital(KRW) |
298,931,160,000 |
|
Total Issues Shares |
59,786,232 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
21,420,446,969,171 |
20,964,254,228,282 |
20,678,036,299,113 |
|
Current Assets |
2,392,891,900,448 |
2,925,306,869,481 |
2,973,522,131,906 |
|
Cash & Cash Equivalents |
410,108,319,781 |
1,002,505,201,107 |
1,250,002,489,928 |
|
Current Financial Instruments |
9,167,908,506 |
10,462,460,264 |
10,895,036,361 |
|
Current Portion of Finance Lease Receivables |
13,013,899,577 |
7,729,710,511 |
|
|
Trade Receivables & Other
Receivables |
938,812,237,523 |
981,945,338,451 |
762,947,190,416 |
|
Other Receivables-Construction |
130,209,450,666 |
145,744,700,506 |
122,821,657,586 |
|
Marketable Financial Instruments |
|
3,000,000,000 |
|
|
Held-to-Maturity Financial Assets |
1,105,000 |
9,356,265,000 |
857,120,000 |
|
Inventories |
416,668,674,377 |
452,041,733,752 |
481,642,183,611 |
|
Deferred Income Tax Assets |
5,388,879,891 |
3,418,817,705 |
6,476,768,086 |
|
Derivatives |
|
4,892,921,329 |
45,593,410,167 |
|
Other Current Assets |
469,521,425,127 |
304,209,720,856 |
292,286,275,751 |
|
Non-Current
Assets |
19,027,555,068,723 |
18,038,947,358,801 |
17,704,514,167,207 |
|
Non-Current Financial Instruments |
55,327,073,278 |
349,647,381 |
340,993,465 |
|
Marketable Financial Instruments |
188,449,047,952 |
191,925,517,631 |
127,654,040,931 |
|
Held-to-Maturity Financial Assets |
848,280,000 |
846,590,000 |
10,078,850,000 |
|
Finance Lease Assets |
72,341,278,762 |
72,422,458,453 |
29,741,295,717 |
|
Investment_Related Companies |
444,829,453,400 |
42,310,851,150 |
50,537,001,905 |
|
Investment_Subsidiaries |
1,347,657,971,739 |
1,127,226,522,855 |
1,459,482,680,202 |
|
Tangibles |
15,120,651,951,272 |
15,049,842,766,284 |
14,404,533,768,024 |
|
Investment_Real Estates |
59,185,408,918 |
58,922,021,232 |
84,931,781,633 |
|
Intangibles |
320,606,330,736 |
342,223,279,064 |
299,444,523,108 |
|
Derivatives |
5,736,332,000 |
|
|
|
Other Financial Assets |
254,105,340,810 |
250,497,081,323 |
265,267,466,093 |
|
Deferred Income Tax Assets |
813,738,926,681 |
657,901,438,931 |
657,254,393,089 |
|
Other Non-Current Assets |
344,077,673,175 |
244,479,184,497 |
315,247,373,040 |
|
Total
Liabilities |
19,440,734,673,957 |
18,693,690,565,414 |
18,304,367,770,708 |
|
Current
Liabilities |
6,350,692,460,258 |
6,688,805,989,480 |
6,072,874,978,896 |
|
Trade Payables & Other
Payables |
699,169,000,794 |
851,330,852,058 |
940,948,344,465 |
|
Short-Term Borrowings |
563,314,898,879 |
786,019,892,419 |
1,234,048,224,167 |
|
Current Portion of Long-Term
Debts |
2,748,856,818,480 |
3,039,516,584,822 |
1,916,009,267,719 |
|
Finance Lease Debts |
957,217,663,156 |
871,447,394,762 |
918,147,365,877 |
|
Derivatives |
205,204,168,184 |
27,640,334,423 |
22,749,839,570 |
|
Current Portion of Finance
Guarantee Debts |
7,618,090,474 |
2,863,401,580 |
|
|
Other Payables-Construction |
148,133,974,278 |
124,474,881,732 |
63,526,173,818 |
|
Other Current Liabilities |
1,021,177,846,013 |
985,512,647,684 |
977,445,763,280 |
|
Non-Current
Liabilities |
13,090,042,213,699 |
12,004,884,575,934 |
12,231,492,791,812 |
|
Long-Term Trade Payables &
Other Payables |
120,129,727,048 |
174,124,500,000 |
133,887,500,000 |
|
Long-Term Borrowings |
1,518,031,924,554 |
1,146,645,013,048 |
876,411,290,657 |
|
Debentures |
1,854,847,024,327 |
2,140,274,937,785 |
3,480,280,050,871 |
|
ABS Borrowings |
1,388,446,547,197 |
916,114,340,798 |
587,479,130,222 |
|
Other Long-Term Borrowings |
17,220,876,334 |
24,667,319,668 |
31,432,508,479 |
|
Finance Lease Debts |
5,547,250,641,619 |
5,019,925,370,004 |
4,709,966,822,298 |
|
Confirmed Salaries |
820,532,382,231 |
849,572,806,537 |
823,463,599,825 |
|
Other Provisions |
136,434,485,691 |
135,186,764,519 |
82,462,345,259 |
|
Deferred Income Tax Credit |
1,633,782,108,041 |
1,558,786,680,190 |
1,476,694,786,664 |
|
Derivatives |
476,353,085 |
399,012,068 |
|
|
Finance
Guarantee |
15,672,190,602 |
9,643,663,612 |
|
|
Other Non-Current Liabilities |
37,217,952,970 |
29,544,167,705 |
29,414,757,537 |
|
Capital
Stock |
298,931,160,000 |
298,931,160,000 |
366,754,040,000 |
|
Capital Surplus |
11,247,795,884 |
11,247,795,884 |
125,677,716,255 |
|
Others |
206,894,490,766 |
368,227,493,156 |
33,636,163,407 |
|
Profit Surplus |
1,462,638,848,564 |
1,592,157,213,828 |
1,847,600,608,743 |
|
Total Equity |
1,979,712,295,214 |
2,270,563,662,868 |
2,373,668,528,405 |
|
Liab. & Shareholder’s Equity |
21,420,446,969,171 |
20,964,254,228,282 |
20,678,036,299,113 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
11,680,398,139,595 |
11,712,354,061,563 |
12,261,681,009,551 |
|
Cost of Sold Goods |
10,171,067,806,857 |
10,606,443,605,306 |
10,865,704,485,679 |
|
Gross Profit |
1,509,330,332,738 |
1,105,910,456,257 |
1,395,976,523,872 |
|
Selling & Admin. Expenses |
1,136,822,618,201 |
1,123,911,311,952 |
1,118,395,060,965 |
|
Operating Income |
372,507,714,537 |
-18,000,855,695 |
277,581,462,907 |
|
Finance Income |
54,003,032,644 |
107,709,479,916 |
112,529,289,614 |
|
Finance Expenses |
422,315,468,996 |
465,668,127,601 |
518,294,681,301 |
|
Other Non-Operating Income |
442,999,789,808 |
731,637,700,949 |
1,163,260,181,115 |
|
Other Non-Operating Expenses |
784,079,983,241 |
756,813,272,025 |
638,713,390,302 |
|
Income Before Taxes |
-336,884,915,248 |
-401,135,074,456 |
396,362,862,033 |
|
Income Taxes Expenses |
-131,408,103,896 |
-106,837,499,247 |
135,894,332,579 |
|
Income from Continuous Business |
-205,476,811,352 |
-294,297,575,209 |
260,468,529,454 |
|
Income from Stopped Business |
|
3,837,940,755 |
-872,002,667 |
|
Net Income |
-205,476,811,352 |
-290,459,634,454 |
259,596,526,787 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
1,840,787,052,820 |
1,762,075,443,840 |
2,065,535,824,923 |
|
Cash Flows from Operating |
1,803,558,558,280 |
1,721,616,248,410 |
2,014,269,901,991 |
|
Net Income |
-205,476,811,352 |
-290,459,634,454 |
259,596,526,787 |
|
Exp. without Cash Outflow |
2,666,067,438,632 |
2,716,571,282,011 |
2,648,546,597,895 |
|
Revenue without Cash Inflows |
-381,727,999,098 |
-674,348,376,670 |
-957,387,900,092 |
|
Changes in Asset/ & Liability |
-275,304,069,902 |
-30,147,022,477 |
63,514,677,401 |
|
Interests Received |
37,496,462,159 |
29,758,126,774 |
40,969,091,104 |
|
Dividends Received |
3,176,950,907 |
10,253,311,022 |
10,318,307,872 |
|
Income Taxes |
-3,444,918,526 |
447,757,634 |
-21,476,044 |
|
Cash Flows from Investing |
-799,623,157,251 |
-1,128,164,875,689 |
-480,475,883,649 |
|
Cash Flows from Financing |
-1,629,505,784,220 |
-871,682,970,401 |
-1,697,954,616,509 |
|
Increase/Decrease in Cash |
-588,341,888,651 |
-237,772,402,250 |
-112,894,675,235 |
|
Cash at the Beginning of Year |
1,002,505,201,107 |
1,250,002,489,928 |
1,381,684,677,018 |
|
Cash at the End of Year |
410,108,319,781 |
1,002,505,201,107 |
1,250,002,489,928 |
|
Main Products & Services |
Air Transportation-Passenger, Cargo,
Maintenance service, Training service, building lease etc Other Business -Aerospace, Catering, Hotel
& In-Flight Sales Brand Name : KAL |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
THE BOEING COMPANY(USA) S-OIL CORPORATION(110111-0189955) GS-CALTEX CORPORATION(110111-0078819) |
|
Customers |
THE BOEING COMPANY AIRBUS (FRANCE) FISC(FLEET INDUSTRY SUPPLY CENTER : JAPAN) SINGAPORE AIRLINES, AIR FRANCE, UNITED
AIRLINE, CATHAY PACIFIC AIRLINE AND TOTAL 28 FOREIGN AIRLINE COMPANIES DEFENSE ACQUISITION PROGRAM ADMINISTRATION,
KOREA LIG NEX1 CO., LTD.(110111-1516933) |
|
Competitors |
ASIANA AIRLINES INC.(110111-0562804) 47, OSOE-DONG, GANGSEO-GU, SEOUL, KOREA TEL:+82-2-2669-3114
FAX:+82-2-2669-3170 CATHAY PACIFIC AIRWAYS LIMITED 35TH FLOOR TWO PACIFIC PLACE 88 QUEENSWAY,
HONG KONG TEL:+85227475210 FAX:+85228106563 DEUTSCHE LUFTHANSA AG VON-GABLENZ-STRASSE 2-6 COLOGNE, 50679
GERMANY TEL:+49-69-6960 FAX:+49-69-69633022 |
|
Affiliates-Domestic |
HANJIN TRANSPORTATION CO.,
LTD.(110111-0003668) KOREANAIRLINESCO.,LTD.(110111-0108484) HANJIN SHIPPING CO., LTD.(110111-0003262) KOREAN AIR TERMINAL SERVICE CO.,
LTD.(110111-0003692) HANJIN TRAVEL SERVICE CO.,
LTD.(110111-0219405) HANJIN SHIP MANAGEMENT CO.,
LTD.(180111-0566133) HANJIN PACIFIC CORPORATION(110111-3535064) AIR TOTAL SERVICE CO., LTD.(110111-2204024) BUSAN TUREE PIER OPERATON
COMPANY(180111-0289933) THE THIRD TERMINAL OF INCHEON PORT
OPERATING CO., LTD.(120111-0194861) POHANG PORT 7TH TERMINAL OPERATING CO.,
LTD.(171711-1136797) PYONGTAEK CONTAINER TERMINAL CO.,
LTD.(131311-0054589) GWANGYANG INTERNATIONAL CONTAINER TERMINAL
CO., LTD.(204611-0022029) BUSAN INTERNATIONAL CONTAINER TERMINAL CO.,
LTD.(180111-0525858) HANJIN NEWPORT CO., LTD.(194111-0012875) HJLK CO., LTD.(110111-384917) HANJIN INCHEON NORTH PORT OPERATION CO.,
LTD.(120111-0460014) AIR TOP SERVICE CO., LTD.(110111-3896325) HANJIN CARRY LOGISTICS CO.,
LTD.(194111-0013948) HANJIN DREAM EXPRESS CO.,
LTD.(110111-1956692) JUNGSEOK ENTERPRISE CO.,
LTD.(110111-0026397) HANJIN INFORMATION SYSTEMS & TELECOMMUNICATION
CO., LTD(110111-0657259) TOPAS CO., LTD.(110111-1674864) GLOBAL LOGISTICS SYSTEM KOREA CO.,
LTD.(110111-1814105) CYBER LOGITEC CO., LTD.(110111-1922750) UNICONVERSE CO., LTD.(110111-3596454) KAL HOTEL NETWORK CO., LTD.(110111-2240169) CYBER SKY CO., LTD.(110111-1993397) JEDONG LEISURE CO., INC.(220111-0042077) HANJIN ENERGY CO., LTD.(180111-0584903) HOMEO THERAPY CO., LTD.(120111-0473546) SAMOUL.CO., LTD.(110111-3669912) IAT CO., LTD.(KOREA) |
|
Affiliates-Overseas |
HANJIN INT'L CORP TIANJIN HANJIN-SINO TRANS AIR CARGO TERMINAL CO., LTD. HANJIN CENTRAL ASIA HIJC TOMI KALF GLSAP US CARGO SALES JOINT VENTURE, LLC GRANDSTAR CARGO INT'L AIRLINES CO., LTD. WAIKIKI RESORT HOTEL, INC., |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
US CARGO SALES JOINT VENTURE,LLC. (33.33% held by the subject company) |
|
Subsidiary |
KOREAN AIR TERMINAL SERVICE CO.,
LTD.(110111-0003692) (59.54% held by the subject company) HANJIN TRAVEL SERVICE CO.,
LTD.(110111-0219405) (55.82% held by the subject company) JUNGSEOK ENTERPRISE CO.,
LTD.(110111-0026397) (24.0% held by the subject company) HANJIN INFORMATION SYSTEMS &
TELECOMMUNICATION CO., LTD.(110111-0657259) (99.35% held by the subject company) TOPAS CO., LTD.(110111-1674864) (67.35% held by the subject company) KAL HOTEL NETWORK CO., LTD.(110111-2240169) (100.0% held by the subject company) AIR TOTAL SERVICE CO., LTD.(110111-2204024) (100.0% held by the subject company) KOREAN AIR LEASE & FINANCE CO., LTD. (100.0% held by the subject company) HANJIN INT'L CORP., (100.0% held by the subject company) JEDONG LEISURE CO., INC.(220111-0042077) (100.0% held by the subject company) HANJIN ENERGY CO., LTD.(180111-0584903) (82.52% held by the subject company) GLSAP (31.50% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company AMLIN-UK MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) LIG INSURANCE CO., LTD.(110111-0017859) -Leasing Agreement NEW YORK CITY INDUSTRIAL DEVELOPMENT
AGENCY(IDA) for using JFK Airport Freight Terminal KALF & GECAS TECHNICAL SERVICES LTD.,
for airplane and components |
|
Sales/ Unit :Mil KRW |
2010 |
2009 |
2008 |
|
Export |
10,143,341 |
8,218,737 |
8,967,582 |
|
Domestic |
1,317,181 |
1,174,966 |
1,244,996 |
|
Total |
11,460,522 |
9,393,703 |
10,212,578 |
The Subject
provides the services through 38 countries 115cities.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
Gong Keun-Hye |
The Subject Company |
Infringement of Copyright |
- |
Proceeding |
|
|
|
Eom Tae-Hyung |
The Subject Company |
Refund on Inappropriate Profits |
109,032,830 |
Proceeding |
|
|
|
The Subject Company & Others(19) |
SFO(San
Francisco) City |
Refund of Occupancy TAX USD533,084 |
USD533,084 |
proceeding |
|
|
Seoul Nambu District Court |
Kim Kyung-A & Others(4) |
The Subject Company |
Claim for Compensation form Damages |
USD 400,000 |
The Subject won. |
|
|
US District Court for the Central District of California |
Bruce Lee |
The Subject Company |
Claim for Compensation form Damages |
USD 1,000,000 |
Proceeding |
|
|
Le Tribunal de Commerce(France) |
SAMSUNG FIRE & MARINE INSURANCE CO.,LTD., & Samsung
Electronics Co., Ltd.(France) |
The Subject Company & Air France |
Claim for Compensation form Damages |
USD 12,938 |
The subject was defeated as of 01/26/2011. |
|
|
Court of Haarlem(Netherlands) & Dusseldorf District Court(Germany) |
Jan De Rijk(Contracting Trucking Company) & Nico Haven (Actual
Trucker) |
The Subject Company |
Claim for Compensation form Damages |
USD 940,000 |
1st round is proceeding. |
|
|
U.S. District Court, Southern District of New York |
DHL Global Forwarding |
The Subject Company |
Claim for Compensation form Damages |
USD 267,000 |
Proceeding |
|
|
Seoul Central District Court, Korea |
DHL Global Forwarding Korea |
The Subject Company |
Claim for Compensation form Damages |
USD 129,200 |
Proceeding |
|
|
United States District Court, Eastern District of New York |
The Subject Company |
The Port Authority of NY & NJ et al |
Claim for Compensation form Damages |
USD 2,160,000 & USD 560,000 |
Proceeding |
|
|
U.S. District Court Eastern District of New York |
The Ministry of Justice, USA |
The Subject Company & Other Air Lines |
ANTITRUST |
- |
Proceeding |
|
|
U.S. District Court Central District of California |
Multiple Purchasers |
The Subject Company & Asiana Air Lines |
|
- |
Proceeding |
There are several
cases filed as Plaintiff(s)/ Creditor(s)/ Applicant(s) for claims for freight related
losses and the subject expects they will win in most of cases, and for the
contingency cases the insurance will cover for the losses. And there are also
several cases filed Plaintiff(s)/ Creditor(s)/ Applicant(s) in USA and Canada.
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.92.53 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.