MIRA INFORM REPORT
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Report No. : |
332645 |
|
Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANSOL PAPER CO., LTD. |
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Registered Office : |
100, Eulji-Ro, Jung-Gu, Seoul, 23~24 FL., B-Dong, Pine Avenue Bldg. Korea 100-192 |
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Country : |
South
Korea |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
02.01.2015 |
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Com. Reg. No.: |
104-86-58322 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Printing and Writing Paper |
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No. of Employees : |
849 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Basic
Information
|
Company Name |
HANSOL PAPER CO., LTD. |
|
Registered Address |
100, Eulji-ro, Jung-gu, Seoul, Korea |
|
Building |
23~24 FL., B-Dong, Pine Avenue Bldg. |
|
Zip Code |
100-192 |
|
Tel |
+82-2-3287-6040 |
|
Fax |
+82-2-6031-0909 |
|
E-mail |
heesun@hansol.co.kr |
|
Website |
www.hansolpaper.co.kr |
|
Trading Address |
23~24 FL., B-Dong, Pine Avenue Bldg., 100,
Eulji-ro, Jung-gu, Seoul, Korea (Old Address System : 23~24 FL., B-Dong, Pine
Avenue Bldg., 203, Euljiro 2-ga, Jung-gu, Seoul, Korea) |
|
Tel |
+82-2-3287-6040 |
|
Fax |
+82-2-6031-0909 |
|
Other Address-Daejeon Factory |
1674-2, Sinil-dong, Daedeok-gu, Daejeon,
Korea |
|
Tel |
+82-42-939-1114 |
|
Fax |
+82-42-939-1112 |
|
Other Address-Cheonan Factory |
40-1, Haengjeong-ri, Gwangdeok-myeon, Cheonan-si, Chungcheongnam-do,
Korea |
|
Tel |
+82-41-559-6126 |
|
Fax |
+82-41-559-6177 |
|
Other Address-Janghang Factory |
481-8, Hwacheon-ri, Janghang-eup, Seocheon-gun, Chungcheongnam-do,
Korea |
|
Tel |
+82-41-955-1111 |
|
Fax |
+82-41-955-6488 |
|
Other Address-Sangju Factory |
67-12, Oedap-dong, Sangju-si, Gyeongbuk, Korea |
|
Tel |
+82-54-534-6641 |
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Printing and Writing Paper |
|
Main Business |
Woodfree Paper, Duplex Board, Specialty Paper |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/02/2015 |
Detailed
Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Art or craft paper(14111606) |
|
Sell |
Label papers(14111537) |
|
Sell |
Coated papers(14121800) |
|
Sell |
Printer or copier paper(14111507) |
|
Sell |
Business cards(14111604) |
|
Sell |
Thermal paper(14111818) |
|
Sell |
Origami craft papers(60121114) |
|
Sell |
Printing and writing paper(14111500) |
|
Sell |
Tissue papers(14121600) |
|
Sell |
Wallpapers(30161502) |
|
Sell |
Paperboard and packaging papers(14121500) |
|
Sell |
Computer printout paper(14111506) |
|
Sell |
Carbonless paper(14111527) |
|
Sell |
Novelty paper(14111600) |
|
Sell |
Offset paper(14121904) |
|
Sell |
Bleached paperboard(14121501) |
|
Sell |
Facsimile paper(14111508) |
|
Sell |
Transparency film(44103118) |
|
Sell |
Silicone coated papers(14121804) |
|
Buy |
Paper pulp(14101501) |
|
Buy |
LBKP (Leaf Bleached Kraft Pulp) |
|
Buy |
NBKP (Needle Bleached Kraft Pulp) |
|
Buy |
BCTMP (Bleached Chemical Thermal Mechenical Pulp) |
|
Buy |
OCC (Old Corrugated Container) |
|
Buy |
ALUM |
CEO’s
|
Name |
Lee Sang-Hoon |
|
Address |
|
|
Date of Birth |
12/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
82,682,545,000 |
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|
Employees |
849 |
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Formation |
Listed Company (Korea Stock Exchange: 213500) as of 01/26/2015 A Company of HANSOL GROUP |
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Bank Details |
Woori Bank Kookmin Bank Hana Bank Korea Development Bank |
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Corporate Registered No. |
110111-5604700 |
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Business Registered No. |
104-86-58322 |
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Permit & Licenses |
Int’l Trade No.: 673114 |
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Shareholder Position |
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Company History |
01/02/2015 Incorporated as the present name
after split off into Hansol Holdings Co., Ltd.(110111-0017867) and
Hansol Paper Co., Ltd.(110111-5604700) |
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Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Lee Sang-Hoon |
Korean |
1952.12 |
Seoul National University, Korea |
|
Executive Director |
Mr. |
Choi Won-Kyung |
Korean |
1960.07 |
Sangji University, Korea |
|
Vice President |
Mr. |
Kim Eun-Seok |
Korean |
1956.05 |
Sungsil University, Korea |
|
Vice President |
Mr. |
Lee Cheon-Hyun |
Korean |
1961.01.08 |
Sungkyunkwan University, Korea |
|
Outside Director |
Mr. |
Lee Seung-Sub |
Korean |
1962.08 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Ko Jung-Hee |
Korean |
1962.02 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Ahn Kwang-Bok |
Korean |
1956.10 |
Yonsei University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
03/2015 |
341,483,494,000 |
1,355,742,227,000 |
11,250,669,000 |
Financial
Description
|
Authorized Capital(KRW) |
350,000,000,000 |
|
Paid-Up Capital(KRW) |
82,682,545,000 |
|
Total Issued Shares |
16,536,509 |
|
Balance Sheet |
|||
|
Unit : Thousand Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
1,355,742,227 |
|
|
|
Current
Assets |
382,309,025 |
|
|
|
Cash & Cash Equivalents |
9,198,466 |
|
|
|
Trade Receivables |
216,879,883 |
|
|
|
Inventories |
139,298,947 |
|
|
|
Held-to-Maturity Financial Assets |
2,473,200 |
|
|
|
Other Financial Assets |
7,159,152 |
|
|
|
Other Current Assets |
7,299,377 |
|
|
|
Non-Current
Assets |
973,433,202 |
|
|
|
Marketable Financial Instruments |
1,355,207 |
|
|
|
Other Financial Assets |
2,088,962 |
|
|
|
Investment_Subsidiaries |
52,898,391 |
|
|
|
Tangibles |
912,463,682 |
|
|
|
Intangibles |
4,308,563 |
|
|
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Other Non-Current Assets |
318,397 |
|
|
|
Total
Liabilities |
1,050,435,068 |
|
|
|
Current
Liabilities |
742,047,586 |
|
|
|
Short-Term Borrowings |
560,929,294 |
|
|
|
Trade Payables |
85,752,854 |
|
|
|
Advance Receipts |
2,472,985 |
|
|
|
Other Current Financial Debts |
84,659,519 |
|
|
|
Deferred Income Tax Credit |
1,589,274 |
|
|
|
Other Current Liabilities |
6,643,660 |
|
|
|
Non-Current
Liabilities |
308,387,482 |
|
|
|
Long-Term Trade Payables &
Other Long-Term Payables |
287,287,769 |
|
|
|
Other Non-Current Financial Debts |
1,875,291 |
|
|
|
Provision for Severance &
Retirement |
2,326,455 |
|
|
|
Other Provisions |
578,572 |
|
|
|
Deferred Income Tax Credit |
16,319,395 |
|
|
|
Capital
Stock |
82,682,545 |
|
|
|
Capital Surplus |
211,608,527 |
|
|
|
Others |
-104,072 |
|
|
|
Profit Surplus |
11,120,159 |
|
|
|
Total Equity |
305,307,159 |
|
|
|
Liab. & Shareholder’s Equity |
1,355,742,227 |
|
|
|
Income Statement |
|||
|
Unit : Thousand Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
341,483,494 |
|
|
|
Cost
of Sold Goods |
276,676,684 |
|
|
|
Gross
Profit |
64,806,810 |
|
|
|
Selling
& Admin. Expenses |
42,705,906 |
|
|
|
Operating
Income |
22,100,904 |
|
|
|
Other
Income |
1,953,546 |
|
|
|
Other
Expenses |
4,872,705 |
|
|
|
Finance
Income |
4,106,564 |
|
|
|
Finance
Expenses |
8,639,118 |
|
|
|
Income
Before Taxes |
14,649,191 |
|
|
|
Income
Taxes Expenses |
3,398,522 |
|
|
|
Net
Income |
11,250,669 |
|
|
|
Cash Flows |
|||
|
Unit : Thousand Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating Activities Cash Flows |
-5,004,819 |
|
|
|
Cash
Flows from Operating |
1,725,857 |
|
|
|
Interests
Received |
32,263 |
|
|
|
Interests
Paid |
-6,757,971 |
|
|
|
Dividends
Received |
|
|
|
|
Income
Taxes |
-4,968 |
|
|
|
Cash Flows from Investing |
-10,352,436 |
|
|
|
Cash
Inflow from Investing |
168,746 |
|
|
|
Cash
Outflows for Investing |
-10,521,182 |
|
|
|
Cash Flows from Financing |
12,444,452 |
|
|
|
Cash
Inflows from Financing |
258,096,017 |
|
|
|
Cash
Outflows from Financing |
-245,651,565 |
|
|
|
Increase/Decrease in Cash |
-2,912,803 |
|
|
|
Cash at the Beginning of Year |
12,111,269 |
|
|
|
Cash at the End of Year |
9,198,466 |
|
|
Products, Technologies, Services
Description
|
Main Products & Services |
Printing & Writing Papaer Business Div. Recomposing and selling printing paper such
as uncoated woodfree series, coated woodfree series and information paper
series produced at the paper mill in Changhang Industrial Paper Business Div. Recomposing and selling packaging paper
such as duplex board series and common type of cartonboard series produced at
the mills in Taejeon and Cheongju City. Other Business Div. Engineering Business Division which runs
environment business and paper manufacturing plant business. |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Trade
Partners & Competitors
|
Suppliers |
DONGHAEPULP CO., LTD(181211-0002548) APRIL(INDIA) INTERNATIONAL PAPER(USA) FIBRZA(BRAZIL) |
|
Customers |
GS RETAIL CO., LTD.(110111-0090037) |
|
Competitors |
-Printing Paper EN PAPER MFG CO.,LTD(134811-0000034) MOORIM PAPER CO.,LTD(191111-0000782) HONG WON PAPER MFG CO.,
LTD.(110111-0239221) HANKUK PAPER MFG CO.,LTD(110111-0002818) -Industrial Paper DAEHAN PAPERTECH CO.,LTD(204311-0008603) SERIM(110111-0233645) HANCHANG PAPER CO.,LTD(184511-0000105) SHINPOONG PAPER MFG CO.,LTD(134711-0002644) |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates-Domestics |
HANSOL HOLDINGS CO., LTD.(110111-0017867) HANSOL
HOMEDECO CO.,LTD.(110111-0825624) HANSOL CHEMICAL
CO., LTD(110111-0270895) HANSOL
CONSTRUCTION CO.,LTD.(110111-2664400) HANSOL
DEVELOPMENT CO., LTD.(141211-0005540) HANSOL LCD
INC.(110111-0004682) HANSOL CSN
CO.,LTD(110111-0150659) HANSOL EME
CO., LTD.(160111-0123185) INNOPTIX
CO.,LTD(110111-2296253) HANSOL PNS CO.,LTD. (110111-0175970) SEOUL PAPER CO., LTD.(110111-0990609) CNP CHEMICAL
CO., LTD.(124411-0043349) E-SERVICE
CO.,LTD.(284311-0011634) HANSOL
LIGHTING INC.(110111-3626003) SEOUL PAPER
CO.,LTD.(110111-0990609) MUNGYEONG ESCO CO.,LTD.(131311-0079553) HANSOL INTICUBE CO., LTD.(110111-2915605) MAUL SOUP CO., LTD.(110111-3858078) ARTONE PAPER MFG. CO.,LTD.(134811-0000034) HANSOL PAPERTECH CO.,LTD.(204311-0008603) |
|
Affiliates-Overseas |
HANSOL
AMERICA, INC. (USA) (100.00% held by the
subject company) HANSOL
DENMARK APS (DENMARK) (50.00% held by
the subject company) TELROL B.V. (NETHERLANDS) (51.97% held by
the subject company) HANSOL
EUROPE B.V. (NETHERLANDS) (100.00% held by
the subject company) SCHADES A/S (DENMARK) SCHADES HOLDINGS
LTD. (UK) SCHADES LTD. (UK) HEIPA
TECHNISCHE PAPIERE GMBH (GERMANY) SCHADES
NORDIC A/S (DENMARK) SCHADES
SWEDEN AB (SWEDEN) SCHADES OY (FINLAND) SCHADES
BENELUX N.V. - S.A (BELGIUM) SCHADES
HOLDING SAS (FRANCE) SNC SCHADES
HOLDING (FRANCE) SCHADES SNC (FRANCE) SCHADES
FRANCE EURL (FRANCE) PRONTRO A.G. (SWISS) KOLIBRI
LABELS B.V. (NETHERLANDS) BIOABLE B.V. (NETHERLANDS) PEHA LABELS
B.V. (NETHERLANDS) TELROL
SERVICES B.V. (NETHERLANDS) KOLIBRI
SERVICES B.V. (NETHERLANDS) HANZEE
INDUSTRIAL CO.,LTD. (BANGLADESH) HANSOL NEW
ZEALAND (NEW ZEALAND) KOPRI INC. (PHILIPPINES) HANSOL
TECHNICS THAILAND (THAILAND) HANSOL
TECHNICS EUROPE S.R.O (SLOVAKIA) HANSOL
LOGISTICS (SHAGHAI) CO.,LTD. (CHINA) HANSOL
LOGISTICS (TIANJIN) CO.,LTD. (CHINA) HANSOL GOLD
POINT LLC (USA) HANSOL
LOGISTICS INDIA PRIVATE LIMITED (INDIA) HANSOL
LOGISTICS MALAYSIA SDN.BHD. (MALAYSIA) HANSOL CSN
LOGISTICS (HONG KONG) CO. LTD. (HONG
KONG) HANSOL
LOGISTICS VINA CO. LTD. (VIETNAM) HANSOL
LOGISTICS GUANGZHOU CO.,LTD. (CHINA) TIANJIN
C&P CHEMICAL CO.,LTD. (CHINA) HANSOL CNP
VINA CO.,LTD. (VIETNAM) HANSOL
ELECTRONIC MATERIALS (XI'AN) CO.,LTD. (CHINA) GREENPOINT
GLOBAL MITTELSTNAD FUND SPECIAL PURPOS VEHICLE I, LLC (USA) HANSOL
ELECTRONICS VIETNAM CO.,LTD. (VIETNAM) HANSOL EME (THILAND)
CO.,LTD. (THAILAND) TOKYO
KAKOHKI CO.,LTD. (JAPAN) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
HANSOL AMERICA INC, HANSOL DENMARK APS |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) |
Sales by Region (Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2015 |
2014 |
2013 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject deals with the companies in China, New Zealand, Thailand, and Hong Kong.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
Administrative Court |
The Subject Company |
Fair Trade Commission |
Imposed Penalty |
|
Proceeding |
News
Clipping
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
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.