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Report No. : |
348612 |
|
Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AGENCY FOR
DEFENSE DEVELOPMENT |
|
|
|
|
Registered Office : |
160, Bugyuseong-Daero 488beon -Gil, Yuseong-Gu, Daejeon, Korea 34188 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.01.1971 |
|
|
|
|
Com. Reg. No.: |
314-83-03869 |
|
|
|
|
Legal Form : |
Governmental Corporation |
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|
|
|
Line of Business : |
Manufacture of Motor Vehicles for Combat. |
|
|
|
|
No. of Employees : |
2,612 |
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 : |
Slow but correct |
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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 – 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
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 |
|
Company Name |
AGENCY FOR
DEFENSE DEVELOPMENT (Trade Name
: ADD) |
|
Registered Address |
160, Bugyuseong-daero 488beon -gil,
Yuseong-gu, Daejeon, Korea |
|
Building |
|
|
Zip Code |
34188 |
|
Tel |
+82-42-822-4271~4 |
|
Fax |
+82-42-823-3400 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
160, Bugyuseong-daero 488beon -gil,
Yuseong-gu, Daejeon, Korea (Old Address System : 111, Sunam-dong,
Yuseong-gu, Daejeon, Korea) (Yuseong Post Office Box 35) |
|
Tel |
+82-42-822-4271~4 |
|
Fax |
+82-42-823-3400 |
|
|
|
|
Type |
Export |
|
Industry |
Manufacture of Motor Vehicles for Combat |
|
Main Business |
Advanced Weapon Systems |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/28/1971 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
War vehicles(25102000) |
|
Sell |
Armored fighting vehicles(25102002) |
|
Name |
Jung Hong-Yong |
|
Address |
Suite 103-2605, 45, Yanghwa-ro, Mapo-gu,
Seoul, Korea |
|
Date of Birth |
06/21/1954 |
|
Title |
President |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to Governmental Corporation |
|
Employees |
2,612 |
|
Formation |
Governmental Corporation |
|
Bank Details |
N/A |
|
Corporate Registered No. |
164171-0003056 |
|
Business Registered No. |
314-83-03869 |
|
Permit & Licenses |
Int’l Trade No.: 16121119 |
|
Shareholder Position |
Defense Acquisition Program Administration (DAPA) |
|
Company History |
01/28/1971 Incorporated as the present name |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President |
Mr. |
Jung Hong-Yong |
Male |
Korean |
05/12/2014 |
|
Director |
Mr. |
Han Min-Koo |
Male |
Korean |
06/30/2014 |
|
Director |
Mr. |
Lee Seok-Joon |
Male |
Korean |
03/24/2013 |
|
Director |
Mr. |
Lee Kwan-Seob |
Male |
Korean |
07/25/2014 |
|
Director |
Mr. |
Cho Yang-Ho |
Male |
Korean |
10/01/2014 |
|
Director |
Mr. |
Lee Sang-Woo |
Male |
Korean |
07/01/2011 |
|
Director |
Mr. |
Jung Gap-Young |
Male |
Korean |
10/01/2014 |
|
Director |
Mr. |
Shin Sung-Cheol |
Male |
Korean |
10/01/2014 |
|
Director |
Mr. |
Chang Myung-Jin |
Male |
Korean |
11/19/2014 |
|
Director |
Mr. |
Jung Ho-Sub |
Male |
Korean |
02/26/2015 |
|
Director |
Mr. |
Chung Min-Geun |
Male |
Korean |
06/01/2015 |
|
Director |
Mr. |
Chang Joon-Kyu |
Male |
Korean |
09/16/2015 |
|
Director |
Mr. |
Jung Kyung-Doo |
Male |
Korean |
09/16/2015 |
|
Director |
Mr. |
Lee Soon-Jin |
Male |
Korean |
10/07/2015 |
|
Director |
Mr. |
Song Eon-Seok |
Male |
Korean |
10/21/2015 |
|
Auditor |
Mr. |
Choi Soo-Yong |
Male |
Korean |
11/16/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
N/A |
1,545,781,469,773 |
N/A |
|
|
2013 |
N/A |
1,401,136,716,132 |
N/A |
|
2012 |
N/A |
1,268,142,196,261 |
N/A |
|
2011 |
N/A |
1,121,503,527,456 |
N/A |
The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
|
Authorized Capital(KRW) |
Not Applicable to Governmental Corporation |
|
Paid-Up Capital(KRW) |
Not Applicable to Governmental Corporation |
|
Total Issues Shares |
Not Applicable to Governmental Corporation |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
1,545,781,469,773 |
1,401,136,716,132 |
1,268,142,196,261 |
|
Current Assets |
511,230,050,935 |
483,258,099,438 |
439,352,387,835 |
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
1,034,551,418,838 |
917,878,616,694 |
828,789,808,426 |
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
600,765,241,810 |
590,304,572,612 |
556,611,070,027 |
|
Current Liabilities |
458,123,900,970 |
468,669,708,622 |
438,720,082,069 |
|
Fixed Liabilities |
142,641,340,840 |
121,634,863,990 |
117,890,987,958 |
|
Capital Stock |
1,034,183,411,213 |
917,729,107,488 |
828,628,603,454 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-89,167,183,250 |
-106,886,963,968 |
-117,097,477,220 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
945,016,227,963 |
810,842,143,520 |
711,531,126,234 |
|
Liab. & Shareholder’s Equity |
1,545,781,469,773 |
1,401,146,716,132 |
1,268,142,196,261 |
|
Main Products & Services |
The Subject is the one and only national
agency for R&D in defense technology contributing to enforcing the
national defense, to improving the national R&D capacity. and to
fostering the domestic industry, and is in charge of the planning and conduct
of all defense acquisition for the Republic of Korea, including R&D, Test
and Evaluation and support for foreign military purchases. |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
SAMSUNG TECHWIN CO., LTD. 19FL., SEOCHO TOWER, 1321-15, SEOCHO-DONG,
SEOCHO-GU, SEOUL, KOREA TEL:+82-3467-7114 FAX:+82-3467-7000 DOOSAN INFRACORE CO., LTD. DOOSAN TOWER 22TH~26TH FL. 18-12,
EULJIRO-6GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-3398-8114 FAX:+82-2-3398-8117 |
The Subject exports
to USA.
Not Available.
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.