|
Report No. : |
354839 |
|
Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEOUL DAIRY COOPERATIVE |
|
|
|
|
Registered Office : |
71, Jungnangcheon-ro, Jungnang-gu, Seoul |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.08.1971 |
|
|
|
|
Com. Reg. No.: |
216-82-00028 |
|
|
|
|
Legal Form : |
Special Organization-Cooperative |
|
|
|
|
Line of Business : |
Manufacture of Fluid Milk and Other Dairy Products. |
|
|
|
|
No. of Employee : |
1,830 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) 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 |
Basic
|
Company Name |
SEOUL DAIRY
COOPERATIVE |
|
Registered Address |
71, Jungnangcheon-ro, Jungnang-gu, Seoul,
Korea |
|
Building |
|
|
Zip Code |
131-704 |
|
Tel |
+82-2-490-8114 |
|
Fax |
+82-2-490-8019 |
|
E-mail |
smilk01@seoulmilk.co.kr;ohsebong@seoulmilk.co.kr;ispeedk@seoulmilk.co.kr |
|
Website |
www.seoulmilk.co.kr |
|
Trading Address |
71, Jungnangcheon-ro, Jungnang-gu, Seoul,
Korea (Old Address System : 137-7, Sangbong
2-dong, Jungnang-gu, Seoul, Korea) |
|
Tel |
+82-2-490-8151 |
|
Fax |
+82-2-490-8019 |
|
Other Address-East-South Dairy Farming Assistance Center |
173-1, Susan-ri, Seolseong-myeon, Icheon-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-643-1171∼3 |
|
Fax |
+82-31-637-1174 |
|
Other Address-Yangju Factory |
152, Deokgye-dong, Yangju-si, Gyeonggi-do,
Korea |
|
Tel |
+82-31-863-1901~3 |
|
Fax |
|
|
Other Address-Yongin Factory |
355-3, Mabuk-dong, Giheung-gu, Yongin-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-283-3031~2 |
|
Fax |
|
|
Other Address-Ansan Factory |
1059, Singil-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-491-3867~9 |
|
Fax |
|
|
Other Address-Geochang Factory |
500, Jeongjang-ri, Geochang-eup, Geochang-gun,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-940-1234 |
|
Fax |
|
|
Other Address-Muk-dong Branch |
174-5, Muk-dong, Jungnang-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Amsa Station Branch |
287-10, Cheonho-dong, Gangdong-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Seokyo Branch |
378-2, Mangwon-dong, Mapo-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Suyu Branch |
185-19, Suyu-dong, Gangbuk-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Achasan Station Branch |
54-13, Guui-dong, Gwangjin-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Boramae Station Branch |
401-7, Daebang-dong, Dongjak-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Eungam-dong Branch |
603-77, Eungam-dong, Eunpyeong-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Gaehwasan Station Branch |
534-9, Banghwa-dong, Gangseo-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Fluid Milk and Other Dairy Products |
|
Main Business |
Milk, Cheese, Milk Powder, Fresh Cream, Fermented Milk, Butter,
Condensed Milk |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/28/1971 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Shelf stable milk or butter
products(50131702) |
|
Sell |
Milk and butter products(50131700) |
|
Sell |
Infant foods(50193001) |
|
Sell |
Cheese(50131800) |
|
Sell |
Non alcoholic beverages(50202300) |
|
Name |
Song Yong-Hern |
|
Address |
Suite 106-1203, 82, Donghwa-gil,
Bongdam-eup, Hwaseong-si, Gyeonggi-do, Korea |
|
Date of Birth |
04/03/1944 |
|
Title |
President |
|
Nationality |
Korean |
|
Capital (KRW) |
106,437,491,509 |
|
Employees |
1,830 |
|
Formation |
Special Organization-Cooperative |
|
Bank Details |
Nonghup Bank-Seoul City Branch |
|
Corporate Registered No. |
114171-0001290 |
|
Business Registered No. |
216-82-00028 |
|
Permit & Licenses |
Int’l Trade No.: 11006130 |
|
Shareholder Position |
1,801 Membership 21,271,134 Accounts Paid Up Capital : 106,355,670,000 KRW |
|
Company History |
08/28/1971 Incorporated as the present name 01/11/2007 Increased capital to
92,120,475,000 KRW(18,424,095 Accounts) from 75,470,990,000 KRW(15,094,198
Accounts) 12/31/2007 Increased capital to
98,910,305,000 KRW(19,782,061 Accounts) from 92,120,475,000 KRW(18,424,095
Accounts) 12/31/2008 Increased capital to
108,094,315,000 KRW from 98,910,305,000 KRW(19,782,061 Accounts) |
|
|
|
The Subject covers
the areas of Seoul City, Incheon City, Gyeonggi Province, Gangwon
Province(Cheolwon), Chungnam Province(Cheonan City) and Chungbuk
Province(Jincheon & Eumsung).
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President |
Song Yong-Hern |
Korean |
04/03/1944 |
05/05/2011 |
|
Director |
Bae In-Ho |
Korean |
06/21/1946 |
02/28/2006 |
|
Director |
Lee Dong-Young |
Korean |
08/14/1953 |
08/14/2008 |
|
Director |
Lee Sang-Hern |
Korean |
04/29/1952 |
08/14/2008 |
|
Director |
Kwon Min-Hwan |
Korean |
02/12/1955 |
04/09/2010 |
|
Director |
Seo Ho-Won |
Korean |
05/10/1956 |
04/09/2010 |
|
Director |
Jung Keon-Hwa |
Korean |
11/15/1959 |
04/09/2010 |
|
Director |
Ji Hong-Keun |
Korean |
08/23/1962 |
04/09/2010 |
|
Director |
Choi Sun-Yong |
Korean |
03/21/1963 |
04/09/2010 |
|
Director |
Lee Jae-Yong |
Korean |
03/16/1948 |
11/07/2013 |
|
Director |
Lee Geon-Sub |
Korean |
06/18.1953 |
04/09/2014 |
|
Director |
Lee Jong-Chan |
Korean |
09/10/1954 |
04/09/2014 |
|
Auditor |
Min Byung-Mok |
Korean |
01/12/1959 |
04/16/2015 |
|
Auditor |
Park Min-Kil |
Korean |
11/24/1962 |
04/09/2010 |
|
Supervisor |
Choi Byung-Kwan |
Korean |
12/25/1957 |
06/21/2011 |
|
Supervisor |
Kim Byung-Soo |
Korean |
05/26/1958 |
01/09/2015 |
|
Supervisor |
Song Joon-Hak |
Korean |
12/01/1966 |
01/09/2015 |
|
Supervisor |
Choi Kil-Hoi |
Korean |
12/08/1966 |
01/09/2015 |
|
Supervisor |
Oh Sang-Mok |
Korean |
04/13/1959 |
01/09/2015 |
|
Supervisor |
Choi Chul-Soo |
Korean |
04/15/1957 |
07/03/2012 |
|
Supervisor |
Jung Jae-Ho |
Korean |
11/07/1958 |
07/01/2012 |
|
Agent |
Baik Seung-Cheon |
Korean |
12/25/1957 |
01/01/2013 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,745,303,960,950 |
1,556,697,496,885 |
19,722,562,217 |
|
|
2013 |
1,677,491,125,944 |
1,440,940,961,502 |
32,573,100,722 |
|
2012 |
1,638,047,000,000 |
1,395,789,000,000 |
19,831,000,000 |
|
2011 |
1,461,175,000,000 |
1,365,844,000,000 |
27,842,000,000 |
|
2010 |
1,488,962,206,989 |
1,325,419,353,902 |
36,708,893,175 |
|
2009 |
1,483,901,817,143 |
1,117,748,084,536 |
29,748,213,131 |
|
2008 |
1,264,215,000,000 |
1,049,392,000,000 |
(-)8,615,000,000 |
|
2007 |
1,100,301,000,000 |
907,841,000,000 |
197,000,000 |
|
2006 |
1,054,449,000,000 |
870,128,000,000 |
2,942,000,000 |
|
2005 |
1,017,328,000,000 |
777,869,000,000 |
4,249,000,000 |
|
2004 |
966,710,000,000 |
695,636,000,000 |
3,291,000,000 |
|
2003 |
916,478,000,000 |
619,634,000,000 |
1,821,000,000 |
|
Authorized Capital(KRW) |
Not Applicable to the Cooperative Organization |
|
Paid-Up Capital(KRW) |
106,437,491,509 |
|
Total Issues Shares |
Not Applicable to the Cooperative Organization |
|
BALANCE SHEET |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
1,556,697,496,885 |
1,440,940,961,502 |
1,395,789,000,000 |
|
Current
Assets |
269,796,751,206 |
253,085,246,774 |
243,323,000,000 |
|
Deposits |
164,501,006,592 |
199,488,328,887 |
|
|
Other Current Assets |
836,685,826,365 |
728,514,205,552 |
|
|
Non-Current
Assets |
285,713,912,722 |
259,853,180,289 |
|
|
Investment |
25,714,221,443 |
24,481,215,105 |
22,583,000,000 |
|
Tangibles |
244,807,437,346 |
222,150,028,599 |
208,489,000,000 |
|
Intangibles |
2,765,451,709 |
2,515,432,929 |
2,440,000,000 |
|
Other Non-Current Assets |
12,426,802,224 |
10,706,503,656 |
9,838,000,000 |
|
Total
Liabilities |
1,272,244,666,407 |
1,155,338,300,810 |
1,126,171,000,000 |
|
Current
Liabilities |
160,570,434,052 |
169,488,127,224 |
149,595,000,000 |
|
Deposits |
1,003,613,586,440 |
904,123,908,032 |
|
|
Short-Term Borrowings |
40,902,216,073 |
7,786,204,040 |
|
|
Non-Current
Liabilities |
67,158,429,842 |
73,940,061,514 |
76,231,000,000 |
|
Capital
Stock |
106,437,491,509 |
107,371,513,509 |
109,582,000,000 |
|
Capital Surplus |
88,574,886,972 |
88,574,886,972 |
88,575,000,000 |
|
Capital Adjustment |
-45,190,000 |
-115,745,000 |
-363,000,000 |
|
Profit Surplus |
89,485,641,997 |
89,772,005,211 |
71,823,000,000 |
|
Total Equity |
284,452,830,478 |
285,602,660,692 |
269,618,000,000 |
|
Liab. & Shareholder’s Equity |
1,556,697,496,885 |
1,440,940,961,502 |
1,395,789,000,000 |
|
INCOME STATEMENT |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Revenues |
1,745,303,960,950 |
1,677,491,125,944 |
1,638,047,000,000 |
|
Operating
Expenses |
1,458,671,875,629 |
1,380,305,147,851 |
1,362,395,000,000 |
|
Selling
& Admin. Expenses |
220,698,314,232 |
215,198,512,906 |
203,185,000,000 |
|
Operating
Income |
65,933,771,089 |
81,987,465,187 |
72,467,000,000 |
|
Other
Income |
1,117,311,680 |
2,271,431,060 |
|
|
Other
Expenses |
53,913,347,249 |
51,799,463,917 |
|
|
Non-Operating
Income |
11,854,513,321 |
6,759,882,920 |
6,084,000,000 |
|
Non-Operating
Expenses |
2,694,951,621 |
2,688,178,968 |
3,623,000,000 |
|
Income
Before Taxes |
22,297,297,220 |
36,531,136,282 |
26,818,000,000 |
|
Income
Taxes Expenses |
2,574,735,003 |
3,958,035,560 |
6,987,000,000 |
|
Income
from Continuous Business |
19,722,562,217 |
32,573,100,722 |
|
|
Net
Income |
19,722,562,217 |
32,573,100,722 |
19,831,000,000 |
|
Main Products & Services |
Milk, Milk Beverage, Soy Bean Milk, Milk Powder,
Cheese, Mineral Water The Subject provides the below services for
the associated members. Education Business Purchasing Business Selling Business Proceeding Business Credit Business |
|
Detailed Products Spec. |
-- |
|
Technologies Acquired |
-- |
|
Suppliers |
-- |
|
Customers |
-- |
|
Competitors |
NAMYANG DAIRY PRODUCTS CO., LTD. 4TH FL., DAE-IL BLDG., 18, NAMDAEMUNNO
1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-734-1305 FAX:+82-2-733-1399 SEO KANG DAIRY & FOOD CO., LTD. 421, WOLSEONG-RI, SANAM-MYEON, SACHEON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-852-5511 FAX:+82-55-852-5515 MAEIL DAIRY INDUSTRY LTD. SAMHWAN BLDG., 98-5, UNNI-DONG, JONGNO-GU,
SEOUL, KOREA TEL:+82-2-2127-2114 FAX:+82-2-3675-0501 |
|
Affiliates |
|
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Internet Shopping Mall Operating DONGNAM FOOD CO., LTD.(110111-1662215) |
The Subject exports
to Mongolia, Vietnam, China and USA.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
KRW |
1 |
Rs.0.056 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.