MIRA INFORM REPORT
|
Report No. : |
322441 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAM JUNG INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
26, Donghae-daero 1845beon-gil, Heunghae-eup, Buk-gu, Pohang-si,
Gyeongsangbuk-do |
|
|
|
|
Country : |
Korea South |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.04.1996 |
|
|
|
|
Com. Reg. No.: |
503-81-31812 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
|
|
|
No. of Employee : |
44 |
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) |
|
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, and is currently the world's 12th
largest economy. 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 andINVESTMENT
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 sluggish growth because of external market slowdowns. 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.
|
Source
: CIA |
Basic
Information
Basic
|
Company Name |
SAM JUNG INDUSTRIES CO., LTD. |
|
Registered Address |
26, Donghae-daero 1845beon-gil, Heunghae-eup, Buk-gu, Pohang-si,
Gyeongsangbuk-do, Korea |
|
Building |
|
|
Zip Code |
791-945 |
|
Tel |
+82-54-262-6251 |
|
Fax |
+82-54-262-6255 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
26, Donghae-daero 1845beon-gil, Heunghae-eup, Buk-gu, Pohang-si,
Gyeongsangbuk-do, Korea (Old Address System : 363-1, Deogjang-ri, Heunghae-eup, Buk-gu,
Pohang-si, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-260-7777 |
|
Fax |
+82-54-262-6259 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
Main Business |
Steel Pallet, Automobile Parts |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
04/10/1996 |
Detailed
Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pallets(24112505) |
|
Sell |
Automotive chassis(25181600) |
|
Sell |
Transportation components and systems(25170000) |
CEO’s
|
Name |
Lee Hi-Man |
|
Address |
Suite 106-2101, 1198-1, Yangdeok-dong,
Buk-gu, Pohang-si, Gyeongbuk, Korea |
|
Date of Birth |
06/14/1961 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,510,000,000 |
|||||||||
|
Employees |
44 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Industrial Bank of Korea-Pohang Branch |
|||||||||
|
Corporate Registered No. |
1701110-098063 |
|||||||||
|
Business Registered No. |
503-81-31812 |
|||||||||
|
Permit & Licenses |
11/27/2003 QS 9000 11/19/2004 ISO 14001 12/27/2004 ISO 9001 Int’l Trade No.: 11669092 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
01/05/1992 Established as SAM JUNG
INDUSTRIES CO.(Sole Proprietorship) 11/2001 Designated as an INNO-BIZ Company 04/10/2005 Moved to the present HQ address
from 22-8, Sang-dong, Suseong-gu, Daegu, Korea 12/28/2006 Increased capital to
1,510,000,000 KRW from 1,310,000,000 KRW |
Detailed
Information
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Hi-Man |
Male |
Korean |
04/10/2005 |
|
Director |
M/S. |
Shin Kui-Sook |
Female |
Korean |
11/09/2009 |
|
Director |
M/S. |
Lee Seul-Ki |
Female |
Korean |
03/31/2014 |
|
Auditor |
Mr. |
Lee Dong-Seok |
Male |
Korean |
04/16/2007 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
21,027,242,412 |
18,391,385,267 |
146,656,976 |
|
|
2013 |
21,405,009,567 |
16,253,378,304 |
129,642,482 |
|
2012 |
10,367,378,571 |
13,741,714,615 |
-1,420,608,073 |
|
2011 |
16,422,662,074 |
13,014,511,983 |
158,121,540 |
|
2010 |
9,851,000,000 |
9,932,000,000 |
65,000,000 |
|
2009 |
10,639,000,000 |
9,969,000,000 |
227,000,000 |
|
2008 |
31,223,000,000 |
9,703,000,000 |
911,000,000 |
|
2007 |
12,751,000,000 |
6,921,000,000 |
179,000,000 |
|
2006 |
11,531,000,000 |
6,881,000,000 |
145,000,000 |
Financial
Description
|
Authorized Capital(KRW) |
3,640,000,000 |
|
Paid-Up Capital(KRW) |
1,510,000,000 |
|
Total Issued Shares |
302,000 |
|
BALANCE SHEET |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
18,391,385,267 |
16,253,378,304 |
13,741,714,615 |
|
Current Assets |
6,266,059,096 |
6,228,520,711 |
4,551,702,921 |
|
-Quick Assets |
1,982,794,737 |
2,370,860,773 |
1,529,844,179 |
|
-Inventories |
4,283,264,359 |
3,857,659,938 |
3,021,858,742 |
|
Fixed Assets |
12,125,326,171 |
10,024,857,593 |
9,190,011,694 |
|
-Investment |
294,000,000 |
212,000,000 |
254,000,000 |
|
-Tangibles |
9,784,327,213 |
7,783,105,704 |
6,978,843,125 |
|
-Intangibles |
2,039,104,439 |
2,029,751,889 |
1,957,168,569 |
|
-Others |
7,894,519 |
- |
- |
|
Total Liabilities |
13,137,583,471 |
11,146,233,484 |
9,819,359,177 |
|
Current Liabilities |
9,507,527,470 |
7,957,292,474 |
6,418,220,299 |
|
Fixed Liabilities |
3,630,056,001 |
3,188,941,010 |
3,401,138,878 |
|
Capital Stock |
1,510,000,000 |
1,510,000,000 |
1,510,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
1,120,542,806 |
973,885,830 |
844,243,348 |
|
Capital Adjustment |
2,623,258,990 |
2,623,258,990 |
1,568,112,090 |
|
Total Equity |
5,253,801,796 |
5,107,144,820 |
3,922,355,438 |
|
Liab. & Shareholder’s Equity |
18,391,385,267 |
16,253,378,304 |
13,741,714,615 |
|
Current Liabilities |
9,507,527,470 |
7,957,292,474 |
6,418,220,299 |
|
Trade Payables |
1,509,977,621 |
1,062,220,207 |
914,408,950 |
|
Short-Term Borrowings |
6,961,199,704 |
4,438,050,125 |
4,174,074,299 |
|
Withholdings |
32,863,403 |
22,806,652 |
16,448,268 |
|
VAT Withhold |
- |
80,552,977 |
- |
|
Advance Receipts |
293,720,993 |
1,480,167,652 |
687,320,547 |
|
Accrued Expenses |
446,185,749 |
603,494,861 |
510,328,235 |
|
Current Portion of Long-Term Debts |
263,580,000 |
270,000,000 |
115,640,000 |
|
Fixed Liabilities |
3,630,056,001 |
3,188,941,010 |
3,401,138,878 |
|
Long-Term Borrowings |
1,531,420,000 |
1,095,000,000 |
1,365,000,000 |
|
Debentures |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Provision for Severance & Retirement |
98,636,001 |
93,941,010 |
50,134,378 |
|
INCOME STATEMENT |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
21,027,242,412 |
21,405,009,567 |
10,367,378,571 |
|
Cost of Sold Goods |
16,996,184,414 |
17,188,631,104 |
8,782,396,385 |
|
Gross Profit |
4,031,057,998 |
4,216,378,463 |
1,584,982,186 |
|
Selling & Admin. Expenses |
3,501,470,228 |
3,787,300,435 |
2,068,885,979 |
|
Operating Income |
529,587,770 |
429,078,028 |
-483,903,793 |
|
Non-Operating Income |
161,826,576 |
252,952,932 |
106,731,966 |
|
Non-Operating Expenses |
544,757,370 |
552,388,478 |
1,026,708,266 |
|
Income Before Taxes |
146,656,976 |
129,642,482 |
-1,403,880,093 |
|
Income Taxes Expenses |
- |
- |
16,727,980 |
|
Net Income |
146,656,976 |
129,642,482 |
-1,420,608,073 |
|
CASH FLOWS |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
-462,204,366 |
637,301,862 |
26,235,669 |
|
-Net Income |
146,656,976 |
129,642,482 |
-1,420,608,073 |
|
-Exp. without Cash Outflow |
868,273,598 |
887,814,062 |
836,256,929 |
|
-Revenue without Cash Inflows |
-3,271,603 |
-16,204,509 |
-6,117,137 |
|
-Changes in Asset/ & Liability |
-1,473,863,337 |
-363,950,173 |
616,703,950 |
|
Cash Flows from Investing |
-2,956,343,544 |
-291,889,963 |
-2,223,827,696 |
|
-Cash Inflow from Investing |
- |
323,265,500 |
2,401,284 |
|
-Cash Outflows for Investing |
-2,956,343,544 |
-615,155,463 |
-2,226,228,980 |
|
Cash Flows from Financing |
3,029,122,648 |
51,629,811 |
1,891,429,050 |
|
-Cash Inflows from Financing |
3,299,122,648 |
263,975,826 |
2,233,100,963 |
|
-Cash Outflows from Financing |
-270,000,000 |
-212,346,015 |
-341,671,913 |
|
Increase/Decrease in Cash |
-389,425,262 |
397,041,710 |
-306,162,977 |
|
Cash at the Beginning of Year |
530,533,342 |
133,491,632 |
439,654,609 |
|
Cash at the End of Year |
141,108,080 |
530,533,342 |
133,491,632 |
Products, Technologies, Services
Description
|
Main Products & Services |
Steel Pallet |
|
Detailed Products Spec. |
-- |
|
Technologies Acquired |
-- |
Trade
Partners & Competitors
|
Suppliers |
-- |
|
Customers |
-- |
|
Competitors |
DAEJIN METAL CO., LTD. 689-78, SEOKGYE-RI, OEDONG-EUP,
GYEONGJU-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-772-1741 FAX:+82-54-772-1749 KUM KANG MACHINERY INDUSTRIAL CO., LTD. 686-1, HYOMUN-DONG, BUK-GU, ULSAN, KOREA TEL:+82-52-288-6001~5 FAX:+82-52-287-9006 SNS INDUSTRY CO., LTD. 832-1, OSIKDO-DONG, GUNSAN-SI,
JEOLLABUK-DO, KOREA TEL:+82-63-468-3328 FAX:+82-63-468-3359 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
SAMJUNG CARRYWORLD CO., LTD.(171711-0060704) SAMJUNG AMERICA CORP. 535, N WOLF RD., WHEELING, IL 60090, USA TEL:+1-847-465-0925 FAX:+1-847-465-0987 |
|
Overseas Office |
-- |
|
Liaison Office |
-- |
|
Overseas Branch |
-- |
|
Joint Venture |
-- |
|
Subsidiary |
-- |
|
Corporate Ownership |
-- |
|
Major Shareholders |
-- |
|
Cooperative Enterprise |
-Insured Company HEUNGKUK FIRE & MARINE INSURANCE CO., LTD.(110111-0016728) LIG INSURANCE CO., LTD.(110111-0017859) |
Sales
by Region (Activity & Markets)
The Subject exports to Spain, USA and Middle
East.
Court
Action
Not Available.
News
Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.