|
Report No. : |
319062 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONG-A
PUBLISHING CO., LTD |
|
|
|
|
Registered Office : |
30, Eunhaeng-Ro, Yeongdeungpo-Gu, Seoul, Korea 150-740 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.10.2008 |
|
|
|
|
Com. Reg. No.: |
101-86-42059 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Publishing of Textbooks and Study Books |
|
|
|
|
No. of Employees : |
378 |
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 |
|
|
|
|
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
economic 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. A
system of close government and business ties, including directed credit and
import restrictions, initially 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 7% 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 over 6% growth in 2010. The US-Korea
Free Trade Agreement was ratified by both governments in 2011 and went into
effect in March 2012. Between 2012 and 2014, the economy experienced sluggish
growth because of external market slowdowns. The administration in 2015 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 the heavy reliance on
exports, which comprise about half of GDP.
|
Source
: CIA |
|
Company Name |
DONG-A
PUBLISHING CO., LTD (Ex. Company
Name : DOOSAN DONG-A CO., LTD. |
|
Registered Address |
30, Eunhaeng-ro, Yeongdeungpo-gu, Seoul,
Korea |
|
Building |
-- |
|
Zip Code |
150-740 |
|
Tel |
+82-2-3670-5000 |
|
Fax |
+82-2-3670-5002 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
30, Eunhaeng-ro, Yeongdeungpo-gu, Seoul,
Korea (Old Address System : 16-2, Yeouido-dong,
Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-3670-5000 |
|
Fax |
+82-2-3670-5002 |
|
|
|
|
Other Address-Ansan Factory |
244, Gangchon-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-489-7800 |
|
Fax |
+82-31-492-2438 |
|
|
|
|
Industry |
Publishing of Textbooks and Study Books |
|
Main Business |
Study-aid Book, Textbook, Dictionary, Electronic Dictionary, Catalog,
Calendar, Label |
|
Sub
Business |
Commercial Printing By Stencil Plate and Similar Plates |
|
Established (mm/dd/yyyy) |
10/01/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Magazines(55101506) |
|
Sell |
Industrial printing services(73151900) |
|
Sell |
Publishing(82121800) |
|
Name |
Lee Jae-Seok |
|
Address |
Suite 23-1805, 32, Dasan-ro, Jung-gu,
Seoul, Korea |
|
Date of Birth |
03/20/1960 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
10,000,000,000 |
|||||||||
|
Employees |
378 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Woori Bank Hana Bank Korea Development Bank |
|||||||||
|
Corporate Registered No. |
110111-3977117 |
|||||||||
|
Business Registered No. |
101-86-42059 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 30635292 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
10/01/2008 Incorporated as DOOSAN DONG-A CO., LTD., after split off
from DOOSAN CO.,LTD(110111-0013774) 10/23/2014 Changed company name to the
present name 10/23/2014 YES24 CO., LTD.(110111-1673288) acquired the subject’s
100% shares from DOOSAN CO., LTD(110111-0013774). 03/27/2015
Moved to the present HQ address from 5th Fl., Yeonkang Bldg., 15, Jong-ro
33-gil, Jongno-gu, Seoul, Korea |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jae-Seok |
Male |
Korean |
10/23/2014 |
|
Executive Director |
Mr. |
Shin Seung-Yong |
Male |
Korean |
10/23/2014 |
|
Executive Director |
Mr. |
Kim Ki-Ho |
Male |
Korean |
10/23/2014 |
|
Auditor |
Mr. |
Jeon Jong-Yoon |
Male |
Korean |
10/23/2014 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)2014 |
144,096,599,315 |
134,921,249,676 |
755,776,455 |
|
(*)2013 |
163,634,068,382 |
151,631,853,800 |
613,395,031 |
|
(*)2012 |
196,957,977,234 |
170,595,241,618 |
-12,586,243,935 |
|
(*)2011 |
242,270,173,254 |
202,960,572,757 |
6,619,345,536 |
|
2010 |
232,005,873,271 |
211,960,259,215 |
1,419,279,548 |
|
2009 |
227,079,881,937 |
212,765,807,725 |
-1,179,048,136 |
(*)Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
10,000,000,000 |
|
Total Issued Shares |
2,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/203 |
As of 12/31/2012 |
|
Total
Assets |
134,921,249,676 |
151,631,853,800 |
170,595,241,618 |
|
Current Assets |
56,292,011,849 |
66,467,377,313 |
78,296,038,456 |
|
Cash
& Cash Equivalents |
142,794,068 |
520,382,662 |
1,260,772,999 |
|
Trade
Receivables & Other Receivables |
46,462,421,892 |
52,602,042,542 |
61,194,026,456 |
|
Inventories |
7,668,164,980 |
10,918,297,838 |
12,227,953,163 |
|
Other
Current Assets |
2,018,630,909 |
2,426,654,271 |
3,613,285,838 |
|
Non-Current Assets |
78,629,237,827 |
85,164,476,487 |
92,299,203,162 |
|
Non-Current
Financial Instruments |
3,000,000 |
3,000,000 |
3,000,000 |
|
Marketable
Financial Instruments |
765,690,000 |
806,583,066 |
919,438,066 |
|
Other
Financial Assets |
11,816,342 |
6,290,055 |
16,521,777 |
|
Tangibles |
53,582,460,507 |
56,071,680,597 |
54,898,449,948 |
|
Intangibles |
22,109,050,115 |
25,818,645,348 |
28,078,697,517 |
|
Investment_Real
Estates |
|
|
4,275,313,465 |
|
Other Long-Term Receivables |
1,095,684,173 |
1,112,604,467 |
1,229,137,420 |
|
Deferred
Income Tax Assets |
1,061,536,690 |
1,302,538,100 |
2,866,052,339 |
|
Other
Non-Current Assets |
- |
43,134,854 |
12,592,630 |
|
Total Liabilities |
105,568,516,617 |
122,733,994,368 |
147,578,941,297 |
|
Current Liabilities |
103,140,745,974 |
102,483,735,932 |
114,170,943,648 |
|
Trade
Payables & Other Payables |
31,250,580,943 |
34,117,377,348 |
39,569,163,586 |
|
Short-Term
Borrowings |
52,450,000,000 |
43,300,000,001 |
33,000,000,000 |
|
Current
Portion of Debentures |
|
|
9,886,834,185 |
|
Current
Portion of Long-Term Debts |
10,000,000,000 |
15,000,000,000 |
20,110,000,000 |
|
Deferred
Income Tax Credit |
- |
314,758,019 |
512,772,323 |
|
Provisionㄴ |
5,252,855,143 |
4,303,622,163 |
5,372,178,512 |
|
Other
Current Liabilities |
4,187,309,888 |
5,447,978,401 |
5,719,995,042 |
|
Non-Current Liabilities |
2,427,770,643 |
20,250,258,436 |
33,407,997,649 |
|
Long-Term
Borrowings |
- |
15,000,000,000 |
20,000,000,000 |
|
Confirmed
Salaries |
2,427,770,643 |
4,925,091,410 |
13,176,392,092 |
|
Other Long-Term Payables |
|
|
42,084,073 |
|
Other
Non-Current Liabilities |
- |
325,167,026 |
189,521,484 |
|
Capital Stock |
10,000,000,000 |
10,000,000,000 |
10,000,000,000 |
|
Capital
Surplus |
27,518,541,765 |
27,518,541,765 |
27,518,541,765 |
|
Others |
2,436,018,000 |
2,436,018,000 |
- |
|
Profit
Surplus |
-10,601,826,706 |
-11,056,700,333 |
-14,502,241,444 |
|
Total
Equity |
29,352,733,059 |
28,897,859,432 |
23,016,300,321 |
|
Liab.
& Shareholder’s Equity |
134,921,249,676 |
151,631,853,800 |
170,595,241,618 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/203 |
As of 12/31/2012 |
|
Sales |
144,096,599,315 |
163,634,068,382 |
196,957,977,234 |
|
Cost
of Sold Goods |
89,237,009,033 |
101,769,549,398 |
133,946,748,761 |
|
Gross
Profit |
54,859,590,282 |
61,864,518,984 |
63,011,228,473 |
|
Selling
& Admin. Expenses |
47,763,638,678 |
54,576,327,154 |
65,118,533,865 |
|
Operating
Income |
7,095,951,604 |
7,288,191,830 |
-2,107,305,392 |
|
Finance
Income |
368,601,328 |
171,934,315 |
166,293,537 |
|
Finance
Expenses |
4,452,584,795 |
5,124,056,023 |
5,549,760,679 |
|
Non-Operating
Income |
477,001,099 |
1,334,457,821 |
827,289,365 |
|
Non-Operating
Expenses |
2,509,061,762 |
2,975,635,529 |
3,037,450,760 |
|
Equity Method Profits |
5,526,287 |
-10,231,722 |
5,527,074 |
|
Income
Before Taxes |
985,433,761 |
684,660,692 |
-9,695,406,855 |
|
Income
Taxes Expenses |
229,657,306 |
71,265,661 |
2,890,837,080 |
|
Net
Income |
755,776,455 |
613,395,031 |
-12,586,243,935 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/203 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
17,901,912,704 |
12,060,519,922 |
8,594,677,612 |
|
Cash
Flows from Operating |
22,367,438,621 |
15,562,287,511 |
16,154,964,864 |
|
Net
Income |
755,776,455 |
613,395,031 |
-12,586,243,935 |
|
Adjustment |
24,496,282,099 |
25,255,757,427 |
35,395,791,526 |
|
Changes
in Asset/ & Liability |
-2,884,619,933 |
-10,306,864,947 |
-6,654,582,727 |
|
Interests
Received |
63,143,585 |
22,825,428 |
41,010,781 |
|
Interests
Paid |
-4,306,678,072 |
-3,332,934,858 |
-5,223,170,052 |
|
Income
Taxes |
-221,991,430 |
-191,658,159 |
-2,378,127,981 |
|
Cash Flows from Investing |
-7,429,501,298 |
-2,980,910,259 |
-13,144,569,740 |
|
Cash
Inflow from Investing |
235,465,384 |
5,500,289,014 |
5,061,162,183 |
|
Cash
Outflows for Investing |
-7,664,966,682 |
-8,481,199,273 |
-18,205,731,923 |
|
Cash Flows from Financing |
-10,850,000,000 |
-9,820,000,000 |
2,609,351,135 |
|
Cash
Inflows from Financing |
9,150,000,000 |
20,300,000,000 |
22,937,086,915 |
|
Cash
Outflows from Financing |
-20,000,000,000 |
-30,120,000,000 |
-20,327,735,780 |
|
Increase/Decrease in Cash |
-377,588,594 |
-740,390,337 |
-1,940,540,993 |
|
Cash at the Beginning of Year |
520,382,662 |
1,260,772,999 |
3,201,313,992 |
|
Cash at the End of Year |
142,794,068 |
520,382,662 |
1,260,772,999 |
|
Main Products & Services |
Study-aid Book, Textbook, Dictionary, Electronic Dictionary, Catalog,
Calendar, Label |
|
Competitors |
JIHAK PUBLISHING CO., LTD.(110111-0382327) KYOWON CO., LTD.(110111-0556617) WOONGJIN THINKBIG CO., LTD.(284911-0065613) JEI CORPORATION(110111-0218465) |
|
Affiliates-Domestic |
HANSAE YES24 HOLDINGS CO., LTD.(120111-0019382) HANSAE CO., LTD.(120111-0484303) E&T 24 CO., LTD.(110111-3162065) DONG-A E&C CONTENTS CO., LTD.(110111-4033182) (20.0% held by the subject company) |
|
Affiliates-Overseas |
HANSAE VIETNAM CO., LTD. HANSAE NICARAGUA, S.A. HANSAE TN CO., LTD.(VIETNAM) AMERICAN PACIFIC TEXTILE, INC.(SAIPAN) HANSAE GUATEMALA, C.A. PT. HANSAE INDONESIA UTAMA HANSAE(SAIPAN), INC. PT. HANSAE KARAWANG INDONESIA CAMBO HANSAE CO., LTD. QINGDAO HANSAE CO., LTD. |
|
Corporate Ownership |
YES24 CO., LTD.(110111-1673288) |
|
Major Shareholders |
YES24 CO., LTD.(110111-1673288) |
|
Sales/ Unit
:Thousand KRW |
2014 |
2013 |
2012 |
|
Export |
9,687,753 |
9,361,044 |
|
|
Domestic |
134,408,846 |
154,273,024 |
|
|
Total |
144,096,599 |
163,634,068 |
|
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
GAP Media Co., Ltd.(110111-3487413) |
The Subject Company |
Receivables |
99,000,000 |
1st round is proceeding |
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.