|
Report No. : |
351111 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
JUNGWOO METAL IND. CO., LTD. |
|
|
|
|
Registered Office : |
431, Cheonggyecheon-ro, Dongdaemun-gu,
Seoul |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.12.1986 |
|
|
|
|
Com. Reg. No.: |
127-81-08951 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Copper. |
|
|
|
|
No. of Employee : |
270 |
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) |
|
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. 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
|
Company Name |
JUNGWOO METAL IND. CO., LTD. (Trade Name : JNS) |
|
Registered Address |
431, Cheonggyecheon-ro, Dongdaemun-gu,
Seoul, Korea |
|
Building |
|
|
Zip Code |
02586 |
|
Tel |
+82-2-2253-1327 |
|
Fax |
+82-2-925-0544 |
|
E-mail |
|
|
Website |
www.jwmetal.co.kr |
|
Trading Address |
431, Cheonggyecheon-ro, Dongdaemun-gu, Seoul, Korea (Old Address System : 100-23, Sinseol-dong, Dongdaemun-gu, Seoul,
Korea) |
|
Tel |
+82-2-3290-9051~3 |
|
Fax |
+82-2-2253-1326 |
|
Other Address |
71-30, Gamaksan-ro 199beon-gil, Nam-myeon, Yangju-si, Gyeonggi-do,
Korea (Old Address System : 371, Guam-ri, Nam-myeon, Yangju-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-866-5950
+82-31-860-0500 |
|
Fax |
+82-31-863-0507 |
|
Type |
Export |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
Main Business |
Copper Fitting, Adapter, Dielectric Flange, Dielectric Unions, Elbows,
P-Trap, Reducers, Plumbing Tube, HVAC Tube, Medical/Gas Tube, Polylagged
Tube, Plumbing Fittings, HVAC Fittings, Press Fittings, Grooved Fittings,
Medical Fittings |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/01/1986 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe fittings(40142300) -Pipe Fittings Copper solder fittings designed and manufactured in
compliance with major international standards |
|
Sell |
Copper tubing(31231302) |
|
Name |
Lee Kwang-Won |
|
Address |
Suite 126-502, 810, Hannam-dong,
Yongsan-gu, Seoul, Korea |
|
Date of Birth |
05/09/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,000,000,000 |
||||||||||||
|
Employees |
270 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Korea Development Bank Shinhan Bank Industrial Bank of Korea Kookmin Bank |
||||||||||||
|
Corporate Registered No. |
111511-0009310 |
||||||||||||
|
Business Registered No. |
127-81-08951 |
||||||||||||
|
Permit & Licenses |
03/1985 KS Mark 04/1991 KS Mark 04/1991 ISO 9002 01/2007 ISO 14001 Int’l Trade No.: 590565 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
02/1979 Established as Bukwang Metal Special Industrial Co.(Sole
Proprietorship) 03/1983 Changed company name to JUNGWOO
METAL IND. CO. 12/16/1986 Incorporated as the present name 07/28/2011 Moved to the present HQ address from 271-12, Deokgye-dong, Yangju-si, Gyeonggi-do, Korea |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Kwang-Won |
Male |
Korean |
12/16/1998 |
|
Director |
M/S. |
Sohn Ok-Jeom |
Female |
Korean |
03/31/2014 |
|
Director |
M/S. |
Lee Joo-Hyun |
Female |
Korean |
12/17/2007 |
|
Auditor |
M/S. |
Yoon Hee-Jung |
Female |
Korean |
03/26/2001 |
|
Supervisor |
Mr. |
Park Jae-Cheol |
Male |
Korean |
09/09/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
47,746,902,959 |
76,496,895,106 |
34,423,452 |
|
2013 |
58,525,221,150 |
75,348,590,301 |
228,177,572 |
|
2012 |
60,852,167,244 |
84,183,143,544 |
1,946,407,109 |
|
2011 |
78,329,281,722 |
93,593,516,607 |
5,617,511,057 |
|
2010 |
82,827,927,185 |
109,103,438,567 |
6,949,913,321 |
|
Authorized Capital(KRW) |
6,880,000,000 |
|
Paid-Up Capital(KRW) |
3,000,000,000 |
|
Total Issued Shares |
300,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
76,496,895,106 |
75,348,590,301 |
84,183,143,544 |
|
Current Assets |
34,503,060,713 |
31,471,507,988 |
37,874,583,881 |
|
-Quick Assets |
13,808,454,018 |
14,101,099,232 |
16,182,331,526 |
|
-Inventories |
20,694,606,695 |
17,370,408,756 |
21,692,252,355 |
|
Fixed Assets |
41,993,834,393 |
43,877,082,313 |
46,308,559,663 |
|
-Investment |
1,090,850,000 |
1,305,793,211 |
2,601,910,362 |
|
-Tangibles |
40,094,097,911 |
41,259,469,960 |
42,751,629,507 |
|
-Intangibles |
35,764,182 |
42,196,842 |
54,754,294 |
|
-Others |
773,122,300 |
1,269,622,300 |
900,265,500 |
|
Total Liabilities |
26,595,053,464 |
25,467,199,477 |
34,527,195,292 |
|
Current Liabilities |
25,680,329,421 |
11,934,529,077 |
33,985,284,632 |
|
Fixed Liabilities |
914,724,043 |
13,532,670,400 |
541,910,660 |
|
Capital Stock |
3,000,000,000 |
3,000,000,000 |
3,000,000,000 |
|
Capital Surplus |
40,509,148 |
40,509,148 |
40,509,148 |
|
Profit Surplus |
40,884,613,303 |
40,850,189,851 |
40,622,012,279 |
|
Capital Adjustment |
5,976,719,191 |
5,990,691,825 |
5,993,426,825 |
|
Total Equity |
49,901,841,642 |
49,881,390,824 |
49,655,948,252 |
|
Liab. & Shareholder’s Equity |
76,496,895,106 |
75,348,590,301 |
84,183,143,544 |
|
Current Liabilities |
25,680,329,421 |
11,934,529,077 |
33,985,284,632 |
|
Trade Payables |
1,245,662,052 |
952,810,421 |
810,909,042 |
|
Short-Term Borrowings |
7,500,000,000 |
8,500,000,000 |
12,600,000,000 |
|
Advance Receipts |
40,305,516 |
149,932,574 |
270,938,625 |
|
Account Payables |
312,808,439 |
377,498,959 |
332,011,212 |
|
Withholdings |
48,846,782 |
50,149,212 |
34,706,330 |
|
Accrued Expenses |
1,214,599,376 |
947,256,145 |
821,818,180 |
|
Accrued Income Tax |
611,507,103 |
949,937,246 |
1,111,129,553 |
|
Current Portion of Long-Term Debts |
13,010,769,570 |
6,944,520 |
18,003,771,690 |
|
Derivatives |
1,695,830,583 |
- |
- |
|
Fixed Liabilities |
914,724,043 |
13,532,670,400 |
541,910,660 |
|
Long-Term Borrowings |
254,534,510 |
13,264,420,400 |
270,380,660 |
|
Provision for Severance & Retirement |
387,939,533 |
- |
- |
|
Leasehold Deposit Received |
272,250,000 |
268,250,000 |
271,530,000 |
|
INCOME STATEMENT |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
47,746,902,959 |
58,525,221,150 |
60,852,167,244 |
|
Cost of Sold Goods |
40,204,023,044 |
49,125,980,897 |
49,418,783,560 |
|
Gross Profit |
7,542,879,915 |
9,399,240,253 |
11,433,383,684 |
|
Selling & Admin. Expenses |
5,142,488,947 |
5,522,403,649 |
5,760,626,038 |
|
Operating Income |
2,400,390,968 |
3,876,836,604 |
5,672,757,646 |
|
Non-Operating Income |
2,413,570,157 |
932,160,851 |
1,066,751,159 |
|
Non-Operating Expenses |
3,289,831,847 |
2,180,913,037 |
2,705,329,029 |
|
Income Before Taxes |
1,524,129,278 |
2,628,084,418 |
4,034,179,776 |
|
Income Taxes Expenses |
1,489,705,826 |
2,399,906,846 |
2,087,772,667 |
|
Net Income |
34,423,452 |
228,177,572 |
1,946,407,109 |
|
CASH FLOWS |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
1,124,899,491 |
11,617,049,409 |
5,365,802,729 |
|
-Net Income |
34,423,452 |
228,177,572 |
1,946,407,109 |
|
-Exp. without Cash Outflow |
5,190,506,656 |
3,427,275,337 |
4,108,243,755 |
|
-Revenue without Cash Inflows |
-985,957,703 |
-9,758,406 |
-30,580,437 |
|
-Changes in Asset/ & Liability |
-3,114,072,914 |
7,971,354,906 |
-658,267,698 |
|
Cash Flows from Investing |
444,073,628 |
-635,771,615 |
4,129,031,455 |
|
-Cash Inflow from Investing |
4,033,836,333 |
3,315,433,469 |
8,280,404,490 |
|
-Cash Outflows for Investing |
-3,589,762,705 |
-3,951,205,084 |
-4,151,373,035 |
|
Cash Flows from Financing |
-1,006,060,840 |
-9,106,067,430 |
-11,127,633,710 |
|
-Cash Inflows from Financing |
4,100,000,000 |
20,114,000,000 |
16,241,649,200 |
|
-Cash Outflows from Financing |
-5,106,060,840 |
-29,220,067,430 |
-27,369,282,910 |
|
Increase/Decrease in Cash |
562,912,279 |
1,875,210,364 |
-1,632,799,526 |
|
Cash at the Beginning of Year |
3,226,294,245 |
1,351,083,881 |
2,983,883,407 |
|
Cash at the End of Year |
3,789,206,524 |
3,226,294,245 |
1,351,083,881 |
|
Main Products & Services |
Copper Fitting (Elbow, Tee, Reducer, Socket,
Adapter, Cap, Dielectric Flange, etc.) |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
NUNGWON METAL INDUSTRY CO., LTD.( 111511-0021877) |
|
Customers |
SMI CO., LTD.(164911-0004864) |
|
Competitors |
DOOSAN MECATEC CO., LTD. 64, SINCHON-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-279-5555 FAX:+82-55-279-5777 SUNG JIN GEOTEC CO., LTD. 20-1, SEONGAM-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-228-5801 FAX:+82-52-228-5989 SEWON CELLONTECH CO., LTD. 11TH FL., GOOD MORNING SHINHAN SECURITIES
BLDG., 23-2, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2167-9000 FAX:+82-2-2167-9157 |
|
Affiliates |
NUNGWON METAL INDUSTRY CO., LTD.( 111511-0021877) SMI CO., LTD.(164911-0004864) S&D TECH CO., LTD.(111511-0050975) |
|
Overseas Office |
EUROPE SALES OFFICE JOHN BRAZIER, DIRECTOR-EUROPE SALISBURY,
WILTSHIRE, SP5 3AN, UK TEL:+44 -(0)-757-651-8702 |
|
Liaison Office |
-- |
|
Overseas Branch |
-- |
|
Joint Venture |
-- |
|
Subsidiary |
-- |
|
Corporate Ownership |
-- |
|
Major Shareholders |
-- |
|
Cooperative Enterprise |
-- |
The Subject exports to Australia, Canada, Italy, Japan, Sweden, UK and
USA.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
- |
The Subject Company |
- |
714 |
Proceeding |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.