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Report No. : |
324889 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOREA PRINTING
INK CO., LTD. |
|
|
|
|
Registered Office : |
271, Gangchon-ro, Danwon-gu, Ansan-si, Gyeonggi-do |
|
|
|
|
Country : |
South Korea |
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|
|
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Financials (as on) : |
21.12.2014 |
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|
|
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Date of Incorporation : |
08.11.1982 |
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|
|
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Com. Reg. No.: |
130111-0010700 |
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|
|
|
Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Subject is manufacture of printing ink |
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|
|
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No. of Employee : |
61 |
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 |
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|
|
|
Payment Behaviour : |
No complaints |
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|
|
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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 |
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Restricted |
C2 |
|
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, 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 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 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
|
Company Name |
KOREA PRINTING
INK CO., LTD. (Korean Company
Name : “한국신문잉크(주)”) |
|
Registered Address |
271, Gangchon-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea (Old Address System : 477-3, Mongnae-dong,
Danwon-gu, Ansan-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
425-100 |
|
Tel |
+82-31-494-7781 |
|
Fax |
+82-31-491-0486 |
|
E-mail |
gyl6365@naver.com |
|
Website |
www.korink.com |
|
Trading Address |
11FL., Sambo Bldg., 275-6, Yangjae-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-3272-4116 |
|
Fax |
+82-2-3272-6814 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Printing Ink |
|
Main Business |
Web Offset Ink, Heat-Set Ink, Sheet-Fed Ink |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/08/1982 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Printing and drawing inks(60121800) |
|
Sell |
Printing barens and brayers(60121713) |
|
Name |
Park Su-Man |
|
Address |
Suite 101-803, 67, Bangbae-ro 18-gil,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
08/05/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,411,400,000 |
|||||||||||||||||||||||||||
|
Employees |
61 |
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Formation |
Co., Ltd by Shares |
|||||||||||||||||||||||||||
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Bank Details |
Kookmin Bank Industrial Bank of Korea-Shinchon Branch Korea Exchange Bank |
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Corporate Registered No. |
130111-0010700 |
|||||||||||||||||||||||||||
|
Business Registered No. |
134-81-00414 |
|||||||||||||||||||||||||||
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Permit & Licenses |
11/07/2008 ISO 9001 11/07/2008 ISO 14001 Int’l Trade No.: 483809 |
|||||||||||||||||||||||||||
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Shareholder Position |
|
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Company History |
11/08/1982 Incorporated as the present name 01/15/2009 Designated as an INNO-BIZ
Company 10/16/2009 Designated as a MAIN-BIZ Company |
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|
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kwon Moon-Han |
Male |
Korean |
03/26/2014 |
|
Outside Director |
Mr. |
Lee Hee-Joon |
Male |
Korean |
03/22/2005 |
|
Outside Director |
Mr. |
Kim Kyung-Soon |
Male |
Korean |
03/19/2013 |
|
Outside Director |
Mr. |
Park Jang-Hee |
Male |
Korean |
03/19/2013 |
|
Outside Director |
Mr. |
Jang Soon-Taik |
Male |
Korean |
03/19/2013 |
|
Outside Director |
Mr. |
Na Yong-Ho |
Male |
Korean |
03/26/2014 |
|
Outside Director |
Mr. |
Choi Won-Seok |
Male |
Korean |
03/11/2015 |
|
Auditor |
Mr. |
Hur Seung-Ho |
Male |
Korean |
03/26/2014 |
|
Auditor |
Mr. |
Kwon Hae-Keun |
Male |
Korean |
04/01/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
31,332,690,652 |
26,007,041,142 |
492,412,949 |
|
|
2013 |
35,013,564,208 |
26,397,469,902 |
155,723,305 |
|
2012 |
36,179,924,452 |
28,658,424,151 |
580,871,114 |
|
2011 |
36,860,825,278 |
28,332,096,209 |
1,844,108,523 |
|
2010 |
31,940,219,228 |
24,258,316,216 |
112,705,988 |
|
2009 |
27,256,362,203 |
23,620,353,543 |
-677,267,542 |
|
Authorized Capital(KRW) |
3,200,000,000 |
|
Paid-Up Capital(KRW) |
1,411,400,000 |
|
Total Issued Shares |
14,114 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
26,007,041,142 |
26,397,469,902 |
28,658,424,151 |
|
Current Assets |
16,561,292,741 |
16,282,149,443 |
17,974,556,108 |
|
-Quick Assets |
12,610,471,233 |
12,453,622,482 |
14,384,086,546 |
|
-Inventories |
3,950,821,508 |
3,828,526,961 |
3,590,469,562 |
|
Fixed Assets |
9,445,748,401 |
10,115,320,459 |
10,683,868,043 |
|
-Investment |
3,000,000 |
9,365,000 |
9,365,000 |
|
-Tangibles |
9,255,902,806 |
9,893,551,532 |
10,472,810,585 |
|
-Intangibles |
19,748,545 |
62,106,877 |
104,646,058 |
|
-Others |
167,097,050 |
150,297,050 |
97,046,400 |
|
Total Liabilities |
11,696,688,443 |
12,579,530,152 |
14,996,207,706 |
|
Current Liabilities |
7,364,825,628 |
8,215,963,293 |
10,613,482,206 |
|
Fixed Liabilities |
4,331,862,815 |
4,363,566,859 |
4,382,725,500 |
|
Capital Stock |
1,411,400,000 |
1,411,400,000 |
1,411,400,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
12,898,952,699 |
12,406,539,750 |
12,250,816,445 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
14,310,352,699 |
13,817,939,750 |
13,662,216,445 |
|
Liab. & Shareholder’s Equity |
26,007,041,142 |
26,397,469,902 |
28,658,424,151 |
|
Current Liabilities |
7,364,825,628 |
8,215,963,293 |
10,613,482,206 |
|
Trade Payables |
6,693,058,102 |
7,286,501,688 |
8,383,325,617 |
|
Account Payables |
472,083,766 |
342,830,155 |
1,094,008,243 |
|
Advance Receipts |
21,555,112 |
32,893,215 |
34,198,253 |
|
Withholdings |
67,577,540 |
66,218,710 |
65,023,560 |
|
Accrued Expenses |
110,551,108 |
187,519,525 |
221,470,521 |
|
Accrued Income Tax |
|
|
178,456,012 |
|
Current Portion of Long-Term Debts |
- |
300,000,000 |
637,000,000 |
|
Fixed Liabilities |
4,331,862,815 |
4,363,566,859 |
4,382,725,500 |
|
Long-Term Borrowings |
|
|
300,000,000 |
|
Leasehold Deposit Received |
73,000,000 |
73,000,000 |
73,000,000 |
|
Long-Term Account Payables |
1,661,237,800 |
1,661,237,800 |
1,901,044,650 |
|
Provision for Severance & Retirement |
3,040,072,013 |
3,073,951,769 |
2,539,870,966 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
31,332,690,652 |
35,013,564,208 |
36,179,924,452 |
|
Cost of Sold Goods |
27,696,308,545 |
30,586,279,652 |
32,097,241,884 |
|
Gross Profit |
3,636,382,107 |
4,427,284,556 |
4,082,682,568 |
|
Selling & Admin. Expenses |
3,212,775,968 |
3,916,080,071 |
3,380,256,598 |
|
Operating Income |
423,606,139 |
511,204,485 |
702,425,970 |
|
Non-Operating Income |
280,248,178 |
220,251,495 |
300,081,135 |
|
Non-Operating Expenses |
197,811,592 |
562,593,083 |
239,362,044 |
|
Income Before Taxes |
506,042,725 |
168,862,897 |
763,145,061 |
|
Income Taxes Expenses |
13,629,776 |
13,139,592 |
182,273,947 |
|
Net Income |
492,412,949 |
155,723,305 |
580,871,114 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
416,396,729 |
1,349,752,090 |
3,439,063,017 |
|
-Net Income |
492,412,949 |
155,723,305 |
580,871,114 |
|
-Exp. without Cash Outflow |
1,448,810,829 |
2,495,788,812 |
1,852,917,278 |
|
-Revenue without Cash Inflows |
-56,635,461 |
-6,242,692 |
-56,381,426 |
|
-Changes in Asset/ & Liability |
-1,468,191,588 |
-1,295,517,335 |
1,061,656,051 |
|
Cash Flows from Investing |
-354,869,731 |
239,251,004 |
-6,196,465,132 |
|
-Cash Inflow from Investing |
978,636,364 |
1,150,531,818 |
1,755,209,091 |
|
-Cash Outflows for Investing |
-1,333,506,095 |
-911,280,814 |
-7,951,674,223 |
|
Cash Flows from Financing |
-300,000,000 |
-637,000,000 |
-301,000,000 |
|
-Cash Inflows from Financing |
500,000,000 |
- |
73,000,000 |
|
-Cash Outflows from Financing |
-800,000,000 |
-637,000,000 |
-374,000,000 |
|
Increase/Decrease in Cash |
-238,473,002 |
952,003,094 |
-3,058,402,115 |
|
Cash at the Beginning of Year |
1,810,970,302 |
858,967,208 |
3,917,369,323 |
|
Cash at the End of Year |
1,572,497,300 |
1,810,970,302 |
858,967,208 |
|
Main Products & Services |
Web Offset Ink, Heat-Set Ink, Sheet-Fed Ink Brand Name : KORINK |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
GS-CALTEX CORPORATION(110111-0078819) |
|
Customers |
DONG-A ILBO(110111-0013310) THE SEOUL SHINMUN(110111-0013493) CHOSUN IIBO CO., LTD.(110111-0015457) JOONGANG ILBO(110111-0051493) HANKOOK ILBO(110111-0223810) THE KYUNGHYANG DAILY NEWS(110111-0706501) |
|
Competitors |
DAIHAN INK CO., LTD. 615, BAKDAL 2-DONG, MANAN-GU, ANYANG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-467-6321~3 FAX:+82-31-443-4192 DONG YANG INK CO., LTD. 338-6, GAGOK-RI, JINWI-MYEON,
PYEONGTAEK-SI, GYEONGGI-DO, KOREA TEL:+82-31-660-9210 FAX:+82-31-667-4877 NAMYANG INK CO., LTD. 153-4, CHUNUI-DONG, WONMI-GU, BUCHEON-SI, GYEONGGI-DO,
KOREA TEL:+82-32-664-3970 FAX:+82-32-664-1473 |
|
Affiliates |
|
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
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Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) DONGBU INSURANCE CO., LTD.(110111-0095285) |
|
Sales/ Unit :Mil KRW |
2014 |
2013 |
2012 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports
to Russia, Japan, China, Philippines and Hong Kong.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/
Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
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No.
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.