|
Report No. : |
354370 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DK DONGSHIN CO., LTD. |
|
|
|
|
Registered Office : |
46, Dadong-Gil, Jung-Gu, Seoul, 11FL., Dadong
Bldg. Korea 04522 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.02.2008 |
|
|
|
|
Com. Reg. No.: |
104-86-13169 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
· Manufacture of Structural Metal Sheet Products and Ornamental Metal Works Used on Building ·
Color
Steel Products of PCM(Pre Coated Metal), Pre-Coated Metal
Plate, Steel Plate, Stainless Plate |
|
|
|
|
No. of Employees : |
205 |
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 : |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. 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 slow growth due to sluggish domestic consumption and investment.
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. In an effort to address the long term challenges and sustain economic
growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
DK DONGSHIN CO., LTD. |
|
Registered Address |
46, Dadong-gil, Jung-gu, Seoul, Korea (Old Address System : 92, Da-dong,
Jung-gu, Seoul, Korea) |
|
Building |
11FL., Dadong Bldg. |
|
Zip Code |
04522 |
|
Tel |
+82-54-286-0050 |
|
Fax |
+82-54-286-0176 |
|
E-mail |
lemonlike2@dkdongshin.co.kr;garam34@dkis.co.kr |
|
Website |
www.dkdongshin.co.kr |
|
Trading Address |
154, Daesong-ro, Nam-gu, Pohang-si,
Gyeongsangbuk-do, Korea (Old Address System : 710-1, Goedong-dong,
Nam-gu, Pohang-si, Gyeongbuk, Korea) |
|
Tel |
+82-54-280-0211 |
|
Fax |
+82-54-286-0176 |
|
Other Address-Gyeongju Branch |
736-3, Cheongang-ro, Gangdong-myeon,
Gyeongju-si, Gyeongsangbuk-do, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Structural Metal Sheet Products and Ornamental Metal
Works Used on Building |
|
Main Business |
Color Steel Products of PCM(Pre Coated Metal),
Pre-Coated Metal Plate, Steel Plate, Stainless Plate |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/29/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel(11101704) |
|
Sell |
Steel plate(30102204) |
|
Sell |
Metal smelting and refining and forming
processes(73121500) |
|
Name |
Ju Hern-Wook |
|
Address |
Suite 105-1901, 391, Samho-ro, Buk-gu,
Pohang-si, Gyeongsangbuk-do, Korea |
|
Date of Birth |
07/26/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
22,050,000,000 |
|||||||||||||||||||||
|
Employees |
205 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares A Company of DONGKUK INDUSTRIES GROUP |
|||||||||||||||||||||
|
Bank Details |
Shinhan Bank Kookmin Bank KEB Hana Bank SC Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
110111-3850959 |
|||||||||||||||||||||
|
Business Registered No. |
104-86-13169 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 45341566 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
02/29/2008 Incorporated as the present name 04/02/2008 Increased capital to 30,000,000,000
KRW from 7,500,000,000 KRW 06/30/2008 Increased the authorized shares
to 200,000,000 shares from 6,000,000 shares 07/02/2008 Increased capital to
45,000,000,000 KRW from 30,000,000,000 KRW 04/27/2014 Decreased capital to
11,250,000,000 from 45,000,000,000 KRW 05/15/2014 Increased capital to
22,050,000,000 KRW from 11,250,000,000 KRW |
|||||||||||||||||||||
|
|
|
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Ju Hern-Wook |
Korean |
11/02/1956 |
07/01/2014 |
|
Director |
Jang Se-Hee |
Korean |
03/12/1968 |
02/29/2008 |
|
Director |
Jang Sang-Geon |
Korean |
12/02/1935 |
02/29/2008 |
|
Director |
Jang Hye-Won |
Korean |
12/21/1970 |
02/29/2008 |
|
Auditor |
Lee Chan-Kook |
Korean |
09/14/1952 |
02/29/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
165,563,491,784 |
124,522,670,407 |
-803,192,384 |
|
|
(*)2013 |
186,944,723,782 |
117,366,562,752 |
-1,982,340,849 |
|
(*)2012 |
189,876,710,491 |
125,706,566,742 |
315,676,686 |
|
(*)2011 |
179,171,718,630 |
144,120,327,654 |
711,507,940 |
|
(*)2010 |
171,123,453,055 |
134,164,767,137 |
2,664,615,141 |
|
2009 |
114,514,297,294 |
122,261,143,621 |
-26,412,748,050 |
|
2008 |
94,168,921,793 |
118,394,363,644 |
2,272,632,811 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
1,000,000,000,000 |
|
Paid-Up Capital(KRW) |
22,050,000,000 |
|
Total Issues Shares |
4,410,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
124,522,670,407 |
117,366,562,752 |
125,706,566,742 |
|
Current
Assets |
72,173,980,447 |
59,790,605,513 |
67,007,348,365 |
|
Cash
& Cash Equivalents |
1,473,473,449 |
604,849,110 |
14,671,058 |
|
Current
Financial Instruments |
7,874,579,638 |
4,482,265,562 |
4,145,257,095 |
|
Trade
Receivables |
23,927,766,878 |
21,546,133,446 |
24,309,515,970 |
|
Other
Receivables |
1,087,975,849 |
997,396,205 |
1,264,652,386 |
|
Advance
Payments |
3,762,928 |
224,234,398 |
30,922,894 |
|
Accrued Income |
149,669,106 |
34,863,539 |
27,633,248 |
|
Prepaid Expenses |
102,970,720 |
89,734,966 |
105,967,732 |
|
Prepaid Income Taxes |
21,856,150 |
16,600,650 |
65,426,041 |
|
Inventories |
29,797,566,777 |
31,794,527,637 |
37,043,301,941 |
|
Non-Current
Assets to be Sold |
7,734,358,952 |
- |
|
|
Non-Current
Assets |
52,348,689,960 |
57,575,957,239 |
58,699,218,377 |
|
Non-Current
Financial Instruments |
561,742,969 |
893,063,503 |
391,274,877 |
|
Marketable
Financial Instruments |
580,934,759 |
731,552,113 |
731,552,113 |
|
Held-to-Maturity
Financial Assets |
- |
125,000 |
125,000 |
|
Investment_Related
Companies |
- |
2,018,015,871 |
5,385,957,218 |
|
Tangibles |
38,129,005,804 |
44,731,513,810 |
45,302,182,690 |
|
Investment_Real
Estates |
3,101,827,250 |
3,101,827,250 |
3,101,827,250 |
|
Intangibles |
48,432,072 |
62,256,468 |
1,749,734 |
|
Long-Term
Receivables |
3,814,224,000 |
- |
|
|
Guarantee Deposit Withhold |
566,646,000 |
904,541,310 |
574,755,586 |
|
Deferred
Income Tax Assets |
5,545,877,106 |
5,133,061,914 |
3,209,793,909 |
|
Total
Liabilities |
77,297,654,520 |
92,628,542,775 |
98,917,986,066 |
|
Current
Liabilities |
66,710,089,087 |
90,374,072,412 |
86,354,476,689 |
|
Trade
Payables |
22,436,484,978 |
17,840,171,559 |
20,727,320,007 |
|
Account
Payables |
3,409,064,692 |
2,390,701,162 |
2,382,323,386 |
|
Advance
Receipts |
120,409,927 |
365,824,255 |
91,943,820 |
|
Withholdings |
135,303,330 |
99,196,280 |
92,509,470 |
|
Accrued
Expenses |
501,706,525 |
534,393,957 |
501,229,622 |
|
Short-Term
Borrowings |
38,457,308,518 |
59,043,865,199 |
54,100,610,384 |
|
Current
Portion of Long-Term Debts |
- |
10,099,920,000 |
8,458,540,000 |
|
Derivatives |
1,649,811,117 |
- |
12,563,509,377 |
|
Non-Current
Liabilities |
10,587,565,433 |
2,254,470,363 |
5,000,000,000 |
|
Long-Term
Borrowings |
10,000,000,000 |
1,741,540,000 |
6,841,460,000 |
|
Provision
for Severance & Retirement |
584,837,863 |
442,424,789 |
669,205,803 |
|
Long-Term
Account Payables |
- |
17,662,000 |
- |
|
Other
Non-Current Financial Debts |
2,727,570 |
52,843,574 |
52,843,574 |
|
Capital
Stock |
22,050,000,000 |
45,000,000,000 |
45,000,000,000 |
|
Capital
Surplus |
46,229,406,610 |
- |
|
|
Capital
Adjustment |
- |
-662,059,000 |
-662,059,000 |
|
Profit
Surplus |
-21,054,390,723 |
-19,599,921,023 |
-17,549,360,324 |
|
Total
Equity |
47,225,015,887 |
24,738,019,977 |
26,788,580,676 |
|
Liab.
& Shareholder’s Equity |
124,522,670,407 |
117,366,562,752 |
125,706,566,742 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
165,563,491,784 |
186,944,723,782 |
189,876,710,491 |
|
Cost
of Sold Goods |
155,270,059,999 |
175,723,574,313 |
176,217,064,797 |
|
Gross
Profit |
10,293,431,785 |
11,221,149,469 |
13,659,645,694 |
|
Selling
& Admin. Expenses |
8,026,513,604 |
8,611,398,416 |
8,679,466,757 |
|
Operating
Income |
2,266,918,181 |
2,609,751,053 |
4,980,178,937 |
|
Other
Non-Operating Income |
2,411,276,478 |
1,306,370,459 |
783,918,622 |
|
Other
Non-Operating Expenses |
3,477,811,309 |
4,630,668,415 |
2,470,794,136 |
|
Finance
Income |
309,841,911 |
1,884,259,489 |
2,287,333,935 |
|
Finance
Expenses |
2,542,539,235 |
5,056,079,944 |
4,995,588,240 |
|
Income
Before Taxes |
-1,032,313,974 |
-3,886,367,358 |
585,049,118 |
|
Income
Taxes Expenses |
-229,121,590 |
-1,904,026,509 |
269,372,432 |
|
Net
Income |
-803,192,384 |
-1,982,340,849 |
315,676,686 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash
Flows from Operating |
6,841,382,021 |
6,829,091,412 |
2,418,271,446 |
|
-Net
Income |
-803,192,384 |
-1,982,340,849 |
315,676,686 |
|
-Exp.
without Cash Outflow |
7,671,510,538 |
10,014,237,048 |
8,952,545,099 |
|
-Revenue
without Cash Inflows |
-1,197,143,011 |
-1,409,523,117 |
-1,993,732,103 |
|
-Changes
in Asset/ & Liability |
3,555,652,701 |
3,650,062,619 |
-591,783,283 |
|
-Adjustment |
-2,385,445,823 |
-3,443,344,289 |
-4,264,434,953 |
|
Cash
Flows from Investing |
-7,449,674,695 |
-2,737,313,093 |
3,520,533,077 |
|
-Cash
Inflow from Investing |
131,771,558,839 |
10,862,236,746 |
11,656,882,022 |
|
-Cash
Outflows for Investing |
-139,221,233,534 |
-13,599,549,839 |
-8,136,348,945 |
|
Cash
Flows from Financing |
1,476,888,948 |
-3,501,255,784 |
-7,485,314,973 |
|
-Cash
Inflows from Financing |
133,243,713,338 |
4,957,284,216 |
49,151,177,095 |
|
-Cash
Outflows from Financing |
-131,766,824,390 |
-8,458,540,000 |
-56,636,492,068 |
|
Increase/Decrease
in Cash |
868,624,339 |
590,178,052 |
-1,546,510,450 |
|
Cash
at the Beginning of Year |
604,849,110 |
14,671,058 |
1,561,181,508 |
|
Cash
at the End of Year |
1,473,473,449 |
604,849,110 |
14,671,058 |
|
Main Products & Services |
Color Steel Products of PCM(Pre Coated Metal),
Pre-Coated Metal Plate, Steel Plate, Stainless Plate |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
DONGKUK INDUSTRIES CO.,
LTD.(110111-0085583) SOZHOU DONGSHIN COLOR METAL CO.,
LTD.(CHINA) |
|
Customers |
SAMSUNG C&T CORPORATION(110111-0002975) SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) |
|
Competitors |
DONGKWANG CO., LTD. 655, DONGO-RI, HYANGNAM-EUP, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-354-8599 FAX:+82-31-354-8662 SEYUN STEEL CO., LTD. 500-21, BUGYANG-DONG, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-355-5250 FAX:+82-31-356-7042~3 GWANG SHIN STEEL CO., LTD. 619-3, DOCHEON-DONG, GWANGSAN-GU, GWANGJU,
KOREA TEL:+82-62-959-9932 FAX:+82-62-959-9935 |
|
Affiliates |
DONGKUK INDUSTRIES CO.,
LTD.(110111-0085583) (6.67% held by the subject company) DAEWON STEEL CO., LTD.(120111-0123711) (33.33% held by the subject company) DONGKUK REFRACTORIES & STEEL CO.,
LTD.(195511-0069249) (4.44 held by the subject company) CHOSUN STEELWIRE CO.,LTD(110111-0008486) DONGKUK S&C(110111-2276784) DONGKUK REFRACTORIES CO.,
LTD.(195511-0069249) HANRYO ENERGY DEVELOPMENT CO.,
LTD.(206211-0026796) SHINAN WIND POWER CO., LTD.(201111-0023666) GO DEOK WIND POWER CO.,
LTD.(161311-0017432) DONGYEON S&T CO., LTD.(110111-3401059) CHUNGSEOK DEVELOPMENT CO., LTD. DK AMERICA, INC. KUMHWA METAL CO., LTD. DK WIND POWER CO., LTD.(234111-0045158) NAMWON WIND POWER CO., LTD.(211311-0005428) DK DONGSHIN CO., LTD.(110111-3850959) SOZHOU DONGSHIN COLOR METAL CO.,
LTD.(CHINA) (80.7% held by the
subject company) |
|
Overseas Office |
QSSC S.A DE C.V |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
Not Available.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
|
The Subject Company |
- |
432 |
The Subject won. |
-----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
|
1 |
Rs.100.58 |
|
Euro |
1 |
Rs.73.16 |
|
KRW |
` |
Rs.0.056 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.