|
Report No. : |
330873 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGJIN SEMICHEM CO., LTD. |
|
|
|
|
Registered Office : |
644, Baekbeom-ro, Seo-gu, Incheon, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
10.07.1973 |
|
|
|
|
Com. Reg. No.: |
137-81-07814 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Diodes, Transistors and Similar Semi-conductor Devices |
|
|
|
|
No. of Employee : |
1,014 |
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 – 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 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 |
DONGJIN SEMICHEM CO., LTD. |
|
Registered Address |
644, Baekbeom-ro, Seo-gu, Incheon, Korea (Old Address System : 472-2, Gajwa 3-dong,
Seo-gu, Incheon, Korea) |
|
Building |
|
|
Zip Code |
404-817 |
|
Tel |
+82-32-578-5091~4 |
|
Fax |
+82-32-578-7226 |
|
E-mail |
jskim@dongjin.com;wgonlee@dongjin.com;jp0528@dongjin.com |
|
Website |
www.dongjin.com |
|
Trading Address |
23th Fl., KGIT Center, 1601, Sangam-dong,
Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-6355-6100 |
|
Fax |
+82-2-325-9459 |
|
Other Address-Sihwa Factory |
1Ra-101, Sihwa Industrial Complex, 1236,
Jeongwang-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-319-0011~6 |
|
Fax |
+82-31-319-0017 |
|
Other Address-Balan Factory |
625-3, Yodang-ri, Yanggam-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-353-6340 |
|
Fax |
+82-31-353-6459 |
|
Other Address-Busan Branch |
4, Donggwang-dong 2-ga, Jung-gu, Busan, Korea |
|
Tel |
+82-51-246-8494 |
|
Fax |
+82-51-255-3978 |
|
Other Address-Gumi Branch |
1074-8, Wonpyeong-dong, Gumi-si, Gyeongbuk, Korea |
|
Tel |
+82-54-457-1864 |
|
Fax |
+82-54-457-1863 |
|
Type |
Export |
|
Industry |
Manufacture of Diodes, Transistors and Similar Semi-conductor Devices |
|
Main Business |
ArF Photo Resist, Foaming Agents, Photoresist, Epoxy Molding Compound,
Caustic Soda |
|
Sub
Business |
Manufacture of All Other Chemical Products n.e.c. |
|
Established (mm/dd/yyyy) |
07/10/1973 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Foaming agents(12161903) |
|
Sell |
Optical network or communication filters(43221802) |
|
Sell |
Electronic component parts and raw materials and accessories(32131000) |
|
Sell |
Coating paints(31211504) |
|
Sell |
Abrasives and abrasive media(31191500) |
|
Sell |
General purpose cleaners(47131805) |
|
Sell |
Miscellaneous finishes(31211700) |
|
Sell |
BARC(Bottom Anti-Reflective Coating) |
|
Sell |
Stripper |
|
Buy |
Ethylene Vinyl Acetate EVA(13102009) |
|
Buy |
Ethers or its substitutes(12352112) |
|
Buy |
Melamine MF(13101905) |
|
Buy |
Amines or imines or its substitutes(12352116) |
|
Buy |
Inorganic metal salts(12352302) |
|
Buy |
Organic derivatives and substituted compounds(12352100) |
|
Buy |
EEP(Ethyl 3-Ethoxy Propionate) |
|
Buy |
D-methyl sulfoxide |
|
Buy |
Hydrazodicarbonamide |
|
Buy |
Diazo chemical |
|
Buy |
Ethyl Lactate |
|
Buy |
Propylene Glicol mono methyl ether |
|
Buy |
Normal buthyl acetate |
|
Buy |
GBL(Gamma Buthyl Lactone) |
|
Name |
Lee Boo-Sup |
|
Address |
|
|
Date of Birth |
11/22/1937 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
21,019,262,000 |
||||||||||||||||||
|
Employees |
1,014 |
||||||||||||||||||
|
Formation |
Listed Company(KOSDAQ: 005290) as of 12/18/1999 |
||||||||||||||||||
|
Bank Details |
Korea Exchange Bank-Shinchon Branch Kookmin Bank Korea Development Bank Shinhan Bank Woori Bank S.C. First Bank of Korea |
||||||||||||||||||
|
Corporate Registered No. |
120111-0003848 |
||||||||||||||||||
|
Business Registered No. |
137-81-07814 |
||||||||||||||||||
|
Permit & Licenses |
12/1987 UL 04/1994 KT 08/1998 KT 11/2002 ISO 9001 10/2009 ISO 14001 Int’l Trade No.: 740281 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
10/1967 Established as Dongjin Chemical Industry
Co. 07/10/1973 Incorporated as
Dongjin Chemical Industry Co., Ltd. 08/10/1995 Acquired Kumjin Distribution
Co., Ltd. 08/27/1999 Changed company name to the
present name 12/18/1999 Listed at KOSDAQ
Market 12/2010 Awarded US$ 200 Million Export Top
Prize |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Lee Boo-Sup |
Korean |
1937.11.22 |
Seoul National University |
|
President & CEO |
Mr. |
Lee Joon-Hyuck |
Korean |
1967. 05.26 |
Seoul National University |
|
President |
Mr. |
Lee Joon-Kyu |
Korean |
1964.03 |
Yonsei University, Korea |
|
Sr. Executive Director |
Mr. |
Jung Yong-Hak |
Korean |
1965.03 |
- |
|
Outside Director |
Mr. |
Lee Sang-Sub |
Korean |
1937.01 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Lee Jin-Ho |
Korean |
1937.05 |
- |
|
Outside Director |
Mr. |
Lee Hwa-Young |
Korean |
1937. 04.21 |
Seoul National University |
|
Auditor |
Mr. |
Kim Wan-Jung |
Korean |
1938. 03.14 |
Yonsei University |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)09/2014 |
410,229,724,705 |
565,735,177,431 |
12,121,574,573 |
|
(*)2013 |
551,737,987,819 |
533,833,650,194 |
17,100,321,520 |
|
(*)2012 |
527,305,207,994 |
515,077,372,402 |
13,093,238,928 |
|
2011 |
441,224,831,378 |
464,260,244,933 |
-5,559,272,930 |
|
2010 |
408,644,566,213 |
435,975,043,706 |
13,007,063,195 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
21,019,262,000 |
|
Total Issued Shares |
42,038,524 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
565,735,177,431 |
533,833,650,194 |
515,077,372,402 |
|
Current
Assets |
166,830,661,326 |
201,602,070,109 |
185,324,790,511 |
|
Cash & Cash Equivalents |
8,300,606,127 |
8,493,024,982 |
14,840,010,464 |
|
Current Financial Instruments |
106,267,193 |
635,455,602 |
20,000,000 |
|
Trade Receivables & Other
Receivables |
111,251,267,215 |
102,529,652,344 |
99,991,863,784 |
|
Inventories |
45,158,276,301 |
42,108,535,451 |
47,468,764,125 |
|
Other Current Assets |
2,014,244,490 |
47,835,401,730 |
23,004,152,138 |
|
Non-Current
Assets |
398,904,516,105 |
332,231,580,085 |
329,752,581,891 |
|
Tangibles |
275,397,441,443 |
177,405,119,686 |
183,700,499,893 |
|
Investment_Real Estates |
14,867,225,337 |
14,982,231,495 |
15,135,573,033 |
|
Intangibles |
21,404,687,270 |
21,165,066,807 |
21,504,182,052 |
|
Non-Current Financial Instruments |
778,643,252 |
627,643,252 |
473,643,252 |
|
Marketable Financial Instruments |
3,058,764,000 |
3,058,764,000 |
3,058,764,000 |
|
Investment_Subsidiaries |
67,839,136,128 |
98,116,255,702 |
87,320,855,702 |
|
Investment_Related Companies |
0 |
0 |
4,083,148,997 |
|
Deferred Income Tax Assets |
7,025,886,529 |
7,548,763,428 |
5,868,028,685 |
|
Non-Current Assets to be Sold |
0 |
315,333,171 |
0 |
|
Long-Term Trade Receivables |
8,523,445,409 |
8,288,091,807 |
6,662,762,070 |
|
Other Non-Current Assets |
9,286,737 |
724,310,737 |
1,945,124,207 |
|
Total
Liabilities |
413,118,347,683 |
363,410,297,023 |
362,771,037,936 |
|
Current
Liabilities |
355,595,882,481 |
289,401,880,823 |
299,587,928,028 |
|
Trade Payables & Other
Payables |
41,330,535,051 |
33,086,635,495 |
35,516,791,456 |
|
Short-Term Borrowings |
305,267,702,724 |
248,571,916,490 |
254,048,255,284 |
|
Other Current Financial Debts |
4,137,074,230 |
1,736,017,856 |
1,671,082,812 |
|
Deferred Income Tax Credit |
380,778,136 |
2,076,902,328 |
2,448,900,534 |
|
Other Current Liabilities |
4,479,792,340 |
3,930,408,654 |
5,902,897,942 |
|
Non-Current
Liabilities |
57,522,465,202 |
74,008,416,200 |
63,183,109,908 |
|
Long-Term Trade Payables &
Other Payables |
1,828,379,840 |
2,884,402,138 |
3,057,586,087 |
|
Long-Term Borrowings |
38,882,023,344 |
53,872,958,352 |
44,592,337,900 |
|
Other Non-Current Financial Debts |
593,272,880 |
888,049,367 |
2,624,067,223 |
|
Provision for Severance & Retirement |
9,093,889,138 |
8,062,306,343 |
7,055,245,298 |
|
Other Non-Current Liabilities |
7,124,900,000 |
8,300,700,000 |
5,853,873,400 |
|
Capital
Stock |
21,019,262,000 |
21,019,262,000 |
21,019,262,000 |
|
Capital Surplus |
43,909,635,055 |
71,315,421,611 |
67,614,455,446 |
|
Others |
19,457,138,645 |
19,457,138,645 |
19,457,138,645 |
|
Profit Surplus |
68,230,794,048 |
58,631,530,915 |
44,215,478,375 |
|
Total Equity |
152,616,829,748 |
170,423,353,171 |
152,306,334,466 |
|
Liab. & Shareholder’s Equity |
565,735,177,431 |
533,833,650,194 |
515,077,372,402 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
410,229,724,705 |
551,737,987,819 |
527,305,207,994 |
|
Cost of Sold Goods |
354,514,112,464 |
473,117,543,235 |
457,446,794,658 |
|
Gross Profit |
55,715,612,241 |
78,620,444,584 |
69,858,413,336 |
|
Logistics |
7,966,490,988 |
10,982,404,551 |
10,237,109,495 |
|
Selling & Admin. Expenses |
18,809,797,359 |
23,851,616,638 |
20,608,107,090 |
|
R&D |
9,572,610,148 |
14,107,727,288 |
13,517,607,602 |
|
Operating Income |
19,366,713,746 |
29,678,696,107 |
25,495,589,149 |
|
Finance Income |
498,318,989 |
1,158,569,427 |
1,441,779,878 |
|
Finance Expenses |
11,167,165,903 |
15,073,082,220 |
15,145,245,211 |
|
Non-Operating Profits |
5,646,646,678 |
3,313,154,197 |
3,495,818,758 |
|
Income Before Taxes |
14,344,513,510 |
19,077,337,511 |
15,287,942,574 |
|
Income Taxes Expenses |
2,222,938,937 |
1,977,015,991 |
2,194,703,646 |
|
Net Income |
12,121,574,573 |
17,100,321,520 |
13,093,238,928 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating
Activities Cash Flows |
20,006,268,244 |
19,177,400,364 |
25,834,738,750 |
|
Net Income |
12,121,574,573 |
17,100,321,520 |
13,093,238,928 |
|
Adjustment |
21,108,891,977 |
18,852,464,896 |
25,864,088,872 |
|
Interests Received |
334,001,868 |
667,735,260 |
1,216,514,947 |
|
Interests Paid |
-10,074,872,706 |
-13,939,896,952 |
-15,196,028,849 |
|
Income Taxes Received |
0 |
0 |
403,860,545 |
|
Income Taxes Paid |
-3,483,327,468 |
-3,984,068,609 |
-17,489,315 |
|
Dividends Received |
0 |
480,844,249 |
470,553,622 |
|
Cash Flows from Investing |
-15,348,560,834 |
-32,681,197,164 |
-44,843,973,598 |
|
Cash Flows from Financing |
-5,173,320,542 |
7,788,350,247 |
20,266,433,622 |
|
Increase/Decrease in Cash |
-192,418,855 |
-6,346,985,482 |
654,421,440 |
|
Cash at the Beginning of Year |
8,493,024,982 |
14,840,010,464 |
14,185,589,024 |
|
Cash at the End of Year |
8,300,606,127 |
8,493,024,982 |
14,840,010,464 |
|
Main Products & Services |
PHOTORESISTS BARCS THINNERS STRIPPERS DEVELOPERS CMP SLURRIES Brand Name: DPR, DNR, UNICELL |
|
Suppliers |
ATAKA-SOLVENT MIWON COMMERCIAL
CO.,LTD.(130111-0007707)-PAC DIC KOR-RESIN SOPO |
|
Customers |
SAMSUNG ELECTRONICS
CO,.LTD.(130111-0006246) SAMSUNG CORPORATION(110111-0002975) LG.PHILIPS LCD CO., LTD.(110111-0393134) HYNIX SEMICONDUCTOR INC(134411-0001387) |
|
Competitors |
TOK-JAPAN SUMITOMO-JAPAN CLARIANT-SWISS SHINETSU-JAPAN SHIPLEY-USA JSR-JAPAN FUJI FILM-JAPAN |
|
Affiliates |
DONGJIN DISPLAY MATERIALS CO., LTD.(135511-0190848) (100.00% held by the subject company) SINAM REFINED FUEL CO., LTD.(164911-0009012) (69.63% held by the subject company) EOLDOSI
DONGJIN SEMICHEM ELECTRONIC
MATERIALS CO., LTD. 90, BUILDING 1, NO 13, TIANJIAO-RD, DONGSHENG DISTRICT, ORDOS, INNER
MONGOLIA, CHINA |
|
|
|
|
Subsidiary |
TAIWAN DONGJIN HWASUNG CO., LTD. (89.38% held by the subject company) NO.21 HSIENGONG NORTH 1ST RD, CHANGBIN IND. COMPLEX, CHANG HUAHSIEN,
TAIWAN R.O.C BEIJING DONGJIN SEMICHEM CO., LTD. (100.0% held by the subject company) NO 10, XINGYEJIE, BDA, BEIJING , CHINA, 100176 DONGJIN ELECTRONIC MATERIALS CO., LTD. (100.0% held by the subject company) BINHAI INDUSTRY AREA QIDONG ECONOMIC DEVELOPMENT ZOON QIDONG CITY
JIANGSU, CHINA DONGJIN SEMICHEM(SEOAN) CO., LTD. (100.0% held by the subject company) ROOM 2013, BLOCK B, GREENLAND SOHO LEAGUE, JINYE ROAD, HI-TECH
DEVELOPMENT ZONE, XIAN CITY, SHAANXI , CHINA JUNGGYUNG DONGJIN SEMICHEM ELECTRONIC MATERIALS
CO., LTD.(CHINA) (100.0% held by the subject company) DONGJIN USA INC (100.00% held by the subject company) |
The Subject exports to Taiwan, Germany, Japan and USA.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2012DA84004 |
|
The Subject Company |
Kim Sang-Moon |
- |
643,465,400 |
Proceeding |
|
2012NA104382 |
|
The Subject Company |
Kim Sang-Moon |
Claim for Compensation from Damages |
1,044,834,284 |
Proceeding |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.