|
Report No. : |
306116 |
|
Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
OH YOUNG INC. |
|
|
|
|
Formerly Known As : |
OH YOUNG INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
102, Somanggongwon-ro, Siheung-si, Gyeonggi-do, Korea, 1Ra-402, Sihwa Industrial Complex, 429-914 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.201981 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
214 |
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 : |
No complaints |
|
|
|
|
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 – 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 |
OH YOUNG INC. (Ex. Company Name : OH YOUNG INDUSTRIAL CO., LTD., |
|
Registered Address |
102,
Somanggongwon-ro, Siheung-si, Gyeonggi-do, Korea (Old
Address System : 1250-1, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea) |
|
Building |
1Ra-402, Sihwa Industrial Complex |
|
Zip Code |
429-914 |
|
Tel |
+82-31-499-2781 |
|
Fax |
+82-31-499-2785 |
|
E-mail |
ohyoung@ohyoung.net |
|
Website |
www.ohyoung.net |
|
Trading Address |
6th
Fl., Sem Top Bldg., 59, Singil-ro, Yeongdeungpo-gu, Seoul, Korea (Old
Address System : 6th Fl., Sem Top Bldg., 448-16, Singil 5-dong,
Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Other Address-Munsan
Factory |
685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
|
Main Business |
Reactive Dyes, Disperse Dyes, Acid Dyes, Direct Dyes, Ink |
|
Sub Business |
Manufacture of Surface-Active Agents |
|
Established (mm/dd/yyyy) |
08/20/1981 |
The Subject owns
the premises of registered HQ address and Munsan Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Phthalein dyes(12171502) |
|
Sell |
Dyes(12171500) |
|
Sell |
Ink and lead refills(44121900) |
|
Sell |
Reactive Dyestuffs |
|
Name |
Chung Hong-Key |
|
Address |
Suite A-406, 56, Eonju-ro 30-gil,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
12/28/1938 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
|||||||||||||||||||||||||||
|
Employees |
214 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Mapo Branch Shinhan Bank-Mapo Branch Korea Exchange Bank-Youngdungpo Branch Hana Bank-Gonduck Station Branch |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
115611-0001071 |
|||||||||||||||||||||||||||
|
Business Registered No. |
128-81-02417 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
The subject became the first member of
ETAD(Ecological and Toxicological Association of Dyes and Organic Pigments
Manufacturers) among the Korean dyestuff makers in 1995. The subject obtained ISO14001 certificate
in Shi-wha factory from TUV Rheinland(Germany) in 07/1999. And two patents acquired. |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
08/20/1981 Incorporated as OH YOUNG INDUSTRIAL CO., LTD. 12/29/2005 Moved to the present HQ address
from 685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea 12/23/2013 Changed company name to the present name |
|||||||||||||||||||||||||||
|
|
|
MANAGEMENT
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Chairman & CEO |
Mr. |
Chung Hong-Key |
Male |
Korean |
08/07/2000 |
|
President & CEO |
Mr. |
Chung Jin-Wook |
Male |
Korean |
12/23/2013 |
|
Director |
Mr. |
Chung Yoong-Sung |
Male |
Korean |
05/18/1999 |
|
Director |
Mr. |
Lee Jeong-Bok |
Male |
Korean |
05/18/2005 |
|
Director |
Mr. |
Kim Seung-Nyon |
Male |
Korean |
06/09/2006 |
|
Auditor |
M/S. |
Chung Mi-Ji |
Female |
Korean |
03/31/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
154,202,709,057 |
97,065,113,757 |
2,618,826,228 |
|
|
2012 |
124,086,226,732 |
93,916,560,057 |
2,383,340,607 |
|
2011 |
105,130,676,018 |
99,986,861,963 |
382,378,575 |
|
2010 |
124,043,426,197 |
87,348,800,177 |
1,741,882,927 |
|
2009 |
108,395,349,366 |
80,441,551,720 |
3,975,474,880 |
|
2008 |
91,048,721,052 |
76,444,332,558 |
2,723,092,632 |
|
2007 |
66,813,636,284 |
69,239,217,069 |
861,986,827 |
|
2006 |
61,739,691,331 |
62,326,139,922 |
452,416,555 |
|
2005 |
52,031,979,901 |
58,844,442,062 |
307,938,785 |
|
2004 |
50,344,436,618 |
57,709,001,059 |
775,480,083 |
|
2003 |
50,022,950,927 |
58,257,822,559 |
604,220,322 |
|
Authorized
Capital(KRW) |
1,200,000,000 |
|
Paid-Up
Capital(KRW) |
500,000,000 |
|
Total Issues Shares |
100,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
97,065,113,757 |
93,916,560,057 |
99,986,861,963 |
|
Current Assets |
73,431,909,019 |
70,578,745,363 |
75,350,686,321 |
|
-Quick Assets |
44,944,858,621 |
40,462,199,566 |
38,779,079,499 |
|
-Inventories |
28,487,050,398 |
30,116,545,797 |
36,571,606,822 |
|
Fixed Assets |
23,633,204,738 |
23,337,814,694 |
24,636,175,642 |
|
-Investment |
4,478,948,596 |
3,422,090,895 |
3,201,475,496 |
|
-Tangibles |
18,530,459,332 |
19,341,720,251 |
21,050,695,386 |
|
-Intangibles |
30,681,337 |
89,371,875 |
23,646,760 |
|
-Others |
593,115,473 |
484,631,673 |
360,358,000 |
|
Total Liabilities |
46,205,601,445 |
45,675,873,973 |
53,999,353,526 |
|
Current Liabilities |
40,339,823,564 |
39,401,107,794 |
48,173,429,979 |
|
Fixed Liabilities |
5,865,777,881 |
6,274,766,179 |
5,825,923,547 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
9,191,920,822 |
9,191,920,822 |
9,191,920,822 |
|
Profit Surplus |
41,167,591,490 |
38,548,765,262 |
36,295,587,615 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
50,859,512,312 |
48,240,686,084 |
45,987,508,437 |
|
Liab. & Shareholder’s Equity |
97,065,113,757 |
93,916,560,057 |
99,986,861,963 |
|
Current Liabilities |
40,339,823,564 |
39,401,107,794 |
48,173,429,979 |
|
Trade
Payables |
4,312,201,476 |
3,589,547,502 |
3,946,544,010 |
|
Short-Term
Borrowings |
29,541,106,071 |
30,546,066,391 |
39,667,403,261 |
|
Account
Payables |
168,272,400 |
223,400,000 |
784,854,468 |
|
Accrued
Expenses |
4,318,466,117 |
3,589,888,377 |
3,098,687,577 |
|
Withholdings |
604,515,719 |
615,335,433 |
440,457,341 |
|
Advance
Receipts |
168,552,311 |
327,458,131 |
91,185,282 |
|
Accrued
Income Tax |
661,706,770 |
285,325,740 |
39,167,370 |
|
Provision
for Products Guarantee |
154,202,700 |
124,086,220 |
105,130,670 |
|
Current Portion of Long-Term Borrowings |
410,800,000 |
100,000,000 |
- |
|
Fixed Liabilities |
5,865,777,881 |
6,274,766,179 |
5,825,923,547 |
|
Long-Term
Borrowings |
1,343,200,000 |
1,754,000,000 |
1,854,000,000 |
|
Provision
for Severance & Retirement |
9,364,123,380 |
8,884,756,390 |
7,984,689,880 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
154,202,709,057 |
124,086,226,732 |
105,130,676,018 |
|
Cost of Sold Goods |
136,185,363,883 |
110,029,185,881 |
92,152,188,862 |
|
Gross Profit |
18,017,345,174 |
14,057,040,851 |
12,978,487,156 |
|
Selling
& Admin. Expenses |
12,530,810,207 |
11,081,836,595 |
10,923,379,684 |
|
Operating Income |
5,486,534,967 |
2,975,204,256 |
2,055,107,472 |
|
Non-Operating Income |
2,778,133,295 |
2,687,346,016 |
1,816,702,275 |
|
Non-Operating Expenses |
3,138,598,234 |
2,941,694,485 |
3,336,588,403 |
|
Income Before Taxes |
5,126,070,028 |
2,720,855,787 |
535,221,344 |
|
Income Taxes Expenses |
2,507,243,800 |
337,515,180 |
152,842,769 |
|
Net Income |
2,618,826,228 |
2,383,340,607 |
382,378,575 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
1,556,738,521 |
8,583,846,490 |
-9,217,010,173 |
|
-Net Income |
2,618,826,228 |
2,383,340,607 |
382,378,575 |
|
-Exp. without Cash Outflow |
3,777,109,435 |
3,707,595,583 |
6,140,861,510 |
|
-Revenue without Cash Inflows |
-483,375,369 |
-1,255,572,611 |
-722,733,439 |
|
-Changes in Asset/ & Liability |
-4,355,821,773 |
3,748,482,911 |
-15,017,516,819 |
|
Cash Flows from Investing |
-1,347,671,500 |
-903,971,957 |
-3,562,070,907 |
|
-Cash Inflow from Investing |
1,793,137,750 |
4,454,914,082 |
966,274,673 |
|
-Cash Outflows for Investing |
-3,140,809,250 |
-5,358,886,039 |
-4,528,345,580 |
|
Cash Flows from Financing |
-664,592,752 |
-7,894,690,454 |
11,512,456,822 |
|
-Cash Inflows from Financing |
76,552,266,363 |
76,201,900,662 |
88,037,081,360 |
|
-Cash Outflows from Financing |
-77,216,859,115 |
-84,096,591,116 |
-76,524,624,538 |
|
Increase/Decrease in Cash |
-455,525,731 |
-214,815,921 |
-1,266,624,258 |
|
Cash at the Beginning of Year |
593,899,903 |
808,715,824 |
2,075,340,082 |
|
Cash at the End of Year |
138,374,172 |
593,899,903 |
808,715,824 |
|
Main Products &
Services |
Reactive Dyes Disperse Dyes Acid Dyes Direct Dyes Ink Petrochemical Raw Materials Inorganic Chemical & Fertilizer Brand Name: “Suncolours”, “Suncid”,
“Sunrrect”, “Suntex”, “Sunfix Sufra” |
|
Detailed Products
Spec. |
|
|
Technologies
Acquired |
|
|
Suppliers |
HANA CAPITAL CO., LTD.(110111-0519970) provides vehicles leasing service
to the subject company. |
|
Customers |
|
|
Competitors |
COLORANT COREA CORPORATION 782-4, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-388-9003 FAX:+82-55-388-9006 MYUNGJIN TRADING CO., LTD. 4TH FL., MYEONGJIN BLDG., 236-7, NONHYEON
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-546-5040 FAX:+82-2-546-6566 YOOJIN CHEMICAL CO., LTD. 8B-28L, BANWOL INDUSTRIAL COMPLEX, 743-7,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-0618 FAX:+82-31-494-0617 |
|
Affiliates |
SEM INC.(110111-2013681) 1250-2, JEONGWANG-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-434-8390 |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
|
Sales/ Unit : KRW |
2013 |
2012 |
2011 |
|
Export |
93,140,127,355 |
71,033,847,020 |
52,091,535,794 |
|
Domestic |
60,983,712,586 |
52,987,182,483 |
52,910,921,725 |
|
Others |
78,869,116 |
65,197,229 |
128,218,499 |
|
Total |
154,202,709,057 |
124,086,226,732 |
105,130,676,018 |
The subject deals
with the companies in China, India, Turkey, USA and Pakistan.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.87 |
|
|
1 |
Rs. 94.07 |
|
Euro |
1 |
Rs. 70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.