7000426 9572727

Transcription

7000426 9572727

Daelim has led Korea’s
construction and petrochemical
industries for the past 74 years,
representing the history of
economic growth of Korea
Basic
Korea's leading conglomerate with 74 year history, sustainable business
portfolio and sound business ethics staying as one of top 100 companies
in Korea during last 60 years.
Challenge
History with Korea's First and No. 1
- Korea's first entrance into global construction market
by entering into Vietnam in 1966
- Completion of Korea's longest suspension bridge (world's 4th longest)
Synergy
Contents
Corporate Profile
01
Message from the CEO 02
Overview of Operations
04
Financial Highlights 06
Outstanding Feats of 2012 08
Review of Operations 22
Plant Works
24
Civil Works
32
Building & Housing Works 40
Petrochemicals
44
Research & Development 48
Safety & Environment
52
Social Contribution
56
Financial Review 59
Affiliates 70
Organization & Management 72
Korea's only one company with perfectly integrated business portfolio from
engineering, construction to commissioning of petrochemical plant as well
as from manufacturing, sales to exports of petrochemical products.
Human
Through corporate philosophy of human respect, continuous social
contribution and low carbon activities. Daelim is committed to
contributing to human and evironment.
1
Corporate History
1939-1958
1962-1970
1972-1981
1982-1996
1997-Present
1965-Present
Establishment of Daelim
Era of Development and Growth
Business Expansion and Takeoff
Rapid Growth and Blooming
Envisioning a New Millennium
Monuments in Overseas Markets
70-year History of Korean
Construction Started
A small construction materials store
with the name of Burim Corporation
started the business in front of the
Bupyeong Station on October 10, 1939,
and grew to become the nation’s leading
woods materials supplier by expanding
its businesses into forest development,
log production, and lumbering in just 6
years. The company changed the name
to “Daelim Industrial” and paved the
way for a comprehensive construction
company by leading the rebuilding of
the post-war economy.
Leading the Economic Development
and Advancing into Seoul
Daelim evolved to become the leader of
Korea’s construction industry by seizing
opportunities of the 5-Year National
Economic Development Plan launched
in 1962. The company ranked the top
in terms of the construction project
volume in 1966. And it started a new
business era by moving the head office
to Seoul. The construction of Gyeongbu
Expressway and Gyeongin Expressway,
the main artery of the nation’s economy
also started in this period.
Improving the Quality of Construction
Technologies
The construction of the POSCO Plants
was a monumental project for the government that vigorously pushed forward
with sophistication of the industrial
structure in the course of economic
development in the 1970s. Daelim carried out this project, which helped the
company leapfrog to become a leader in
the construction of heavy chemical and
plant facilities. Also, Daelim Engineering
Company was established in 1974 to
undertake the turn-key base construction projects.
Shaping a Future with the Strengths of
50-year History
Daelim successfully completed a number
of major construction projects both in
Korea and abroad in the 1980s in the
midst of the Economic Development
Plan. The company’s accomplishments
have been awarded with the Gold Tower
of Industrial Accomplishments and the
US$5 Billion Overseas Construction
Medal. The Olympic Main Stadium, Independence Hall and Seoul Court House
Complex are some of the outstanding
architectural structures built by Daelim
during this period.
Opening a New Chapter
Leapfrogging into a Global Leader
Backed by the recognition of contributions to the nation’s economic and social
development, Daelim received the Grand
Prize at the Korea Construction Award
in 2001. Today, the housing culture
is seeking more comfortable spaces
beyond just living spaces. To meet this
trend, Daelim is striving to improve the
quality of customers’ lives by adopting
environment-friendly and ergonomic
devices and innovative designs to the
construction of apartment complexes.
With the piling projects for the construction of sea berth in Rach Gia, Vietnam,
in 1966, Daelim entered the overseas
construction markets. The company
extended its reach to Southeast Asia
in the early 1970s and the Middle East
in 1974. Since then, Daelim was able
to penetrate over 10 countries in the
Middle East in just 5 years, which has
become the foundation for the construction boom in the Middle East.
Daelim has led Korea’s
construction and petrochemical
industries for the past 74 years,
representing the history of
economic growth of Korea
Basic
Korea's leading conglomerate with 74 year history, sustainable business
portfolio and sound business ethics staying as one of top 100 companies
in Korea during last 60 years.
1939
Establishment of Daelim
1965
Chuncheon Dam
1973
POSCO’s Steel Plants
1984
Jamsil Olympic Main Stadium
2000
Seohae Grand Bridge
1981
Saudi-Bahrain Cement Plants
Challenge
History with Korea's First and No. 1
- Korea's first entrance into global construction market
by entering into Vietnam in 1966
- Completion of Korea's longest suspension bridge (world's 4th longest)
1947
Bupyeong Police Headquarter Building
1969
Gyeongbu Expressway
1975
National Assembly House Yeongdong
1987
The Independence Hall of Korea
2005
Cheonggyecheon Restoration Project
2000
Karun Dam
Synergy
Korea's only one company with perfectly integrated business portfolio from
engineering, construction to commissioning of petrochemical plant as well
as from manufacturing, sales to exports of petrochemical products.
Human
1954
Daelim’s Headquarter Building in Dongja-dong
1969
Gyeongin Expressway
1975
Youngdong Expressway
1991
Gangneung Multipurpose Dam
2009
Gwanhwamun Square
2008
Petro FCC Plants in Philippines
1958
Filing and covering up Cheonggyecheon
1970
The Ministry of National Defense Building
1978
Sejong Performing Arts Center Yeongdong
1996
Diplomatic Center
2011
Ipo Weir
2010
Saudi Kayan Polycarbonate Project
Through corporate philosophy of human respect, continuous social
contribution and low carbon activities. Daelim is committed to
contributing to human and evironment.
1
Securing Global Competitive
Edge as a Developer
To our valued shareholders, customers and business partners.
Thank you for your unwavering interest and staunch support for
Daelim in 2012.
With the global economic crisis and recession in full effect, concern
from uncertainty was heightened throughout the year 2012. Despite
these uncertainties, Daelim has made significant accomplishments in
various fields to enable another leap forward.
Daelim succesfully diversified its business portfolio, which was concentrated
in petrochemicals and businesses in the Middle East region, by acquiring
a series of orders for projects related to power generation plants in the
Southeast Asian region including the Philippines and Vietnam. In addition,
despite a decrease in the number of orders in the domestic market, Civil
Business Division achieved orders in the amount of USD 0.9 billion and Building
& Housing Business Division has continued its relentless efforts in making its
turnaround, despite prolonged downturn of housing market, by focusing on
non-housing businesses and revising rate of cost to sales.
To enhance internal stability across all business activities, Daelim has taken
measures to ensure flexibility in the midst of market changes by revising
its business portfolio by profitability. As the domestic construction market
in South Korea has reached the point of saturation, Daelim will take steps
ahead to diversify its revenue structure by developing businesses related
to development as part of drivers for future growth. In particular, by taking
proactive measures in investing in IPP businesses, Daelim plans to increase
profit of investment and development business to that of profit from
traditional contract businesses. Further, Daelim will commit itself to strategic
micromanagement by thoroughly analyzing risk factors to be reflected in the
process of business planning and formulation of strategies and thus secure
core aspects of competence.
Plant Business Division, based on its extensive experience in business,
technological capability and trust built with local partners will continue its
outstanding performance in the Middle East while also securing orders in
regions other than the Middle East. The Division will strengthen its ground
for internal stability by enhancing competence within its organization and
revising processes related to its business activities. Further, Plant Business
Division will enhance its competence as a developer and build new business
models that will contribute in generating profits.
Civil Business Division will focus its resources to acquire new orders
amounting up to USD 2.2 billion in the domestic and overseas market by
leveraging and maximizing exsisting synergies from its current businesses.
In parallel, the Division will manage its profitability by selectively placing
its focus in new orders acquisitions while ensuring efficiency in execution.
Building & Housing Business Division, on the other hand, will place its
focus on Private Architecture and Contracting Housing business, while
reducing its emphasis on orders related to reconstruction and renovation.
Additionally, Building & Housing Business Division will expand and focus
on new orders awards in overseas markets by inaugurating a new group
dedicated to overseas business development.
Daelim’s continuous evolution and innovation for growth, over the past
74 years, were not without moments of crisis and tough decision-making.
As a result of prudent management, success has galvanized Daelim into
a premier construction company representing Korea with its consistency
and competence in achieving remarkable business performance in the global
market. Based on the company’s policy of “faithful commitment to basics
and principles”, our employees and executives take pride and are relentlessly
committed to growing Daelim into a sustainable company with transparent
management that garnishes respect from its valued customers and society.
Thank you.
Charles Y. Kim
Vice Chairman & CEO
2
3
Overview of Operations in 2012
New Orders and Order Backlog
In 2012, new orders was awarded to Daelim amounted
to USD 7 billion and the backlog stood at USD 22.9
billion. To take a closer look by Business Division, Plant
Business Division order intake was achieved in power
generation plants and petrochemical plants which has
been the center of focus, in Southeastern Asia and
the Middle East and achieved the amount of USD 3.6
billion in backlog, Civil Business Division, based on its
extensive experience and unparalleled technological
competence, has focused on profitable projects such
as those related to T/K and SOC. The Division acquired
orders amounting to USD 0.9 billion despite contraction
of new orders from the public sector and intensified
competition in the industry. Building & Housing
Business Division has achieved the amount of USD 2.5
billion in new orders by selectively focusing on projects
that potentially posed less risk and on new order
awards from the private and public sector.
Sales
Daelim has recorded USD 9.6 billion in sales, which
is a 28% increase from USD 7.5 billion of the previous
year. Engineering & Construction Unit achieved USD
7.7 billion in sales in 2012. Such increase is attributable
to continuous growth in overseas led by diversification
of projects and unrivaled technological competence.
Sales of Petrochemical Unit has reached USD 1.2
billion, backed by gradual increase of product prices.
Other affiliate companies including DSA, Daelim Motor,
Daelim C&S, Ora Resort demonstrated improvement in
performance and generated revenue of USD 9.6 billion
by consolidated standard.
Outlook for 2013 (New Orders, Sales)
In preparation against the prolonged economic
downturn in domestic and global markets, Daelim will
shift its focus to the pursuit of external growth for
securing internal stability. Furthermore, in preparation
against sluggish growth, Daelim will take preemptive
measures across all its management activities and
have individual Business Unit revise its portfolio by
profitability to ensure timely response to market
changes. By carrying out these strategies, Daelim has
set its business goal of receiving new orders up to
USD 12.1 billion in 2013, an increase of USD 5.1 billion
from USD 7.0 billion of 2012. Plant Business Division,
for instance, has set up its goal of order intake
amounting total of USD 7.7 billion – USD 0.9 billion in
domestic and USD 6.8 billion in overseas. The Division
aims to receive new orders for its Petrochemical Sector
and Power Generation Sector by equal amount.
Civil Business Division aims to receive new orders
with amount up to USD 2.2 billion – USD 1.2 billion in
domestic and USD 1.0 billion in overseas – and
will minimize risks of failure by placing its focus
on technical proposal projects in overseas markets.
Building & Housing Business Division, while
maintaining its status quo, has revised its business
portfolio of individual Business Unit in response to
market circumstances and set its business goal of
achieving total amount of USD 2.2 billion in new
orders – USD 1.5 billion for contracting housing
and USD 0.7 billion for private architecture.
Figures of Sales in Daelim
Portion of Sales in Daelim
USD thousands / (in KRW millions)
Percentage
Engineering & Construction Unit
Petrochemicals
Etc.
$ 7,720,741 (₩ 8,269,686)
$ 1,217,539 (₩ 1,304,106)
$ 634,447 (₩ 679,555)
Petrochemicals
13%
Engineering &
Construction Unit
Etc.
81%
6%
9,572,727
Total Sales in 2012 (USD thousands)
Figures of New Orders in Daelim E&C Unit
Portion of New Orders in Daelim E&C Unit
Percentage
$ 3,645,988 (₩ 3,905,218)
Plant Works
Civil Works
Plant Works
$ 885,427 (₩ 948,381)
52%
Civil Works
Building & Housing Works
$ 2,469,011 (₩ 2,644,557)
7,000,426
13%
Building &
Housing Works
35%
Total Sales in 2012 (USD thousands)
* Orders amount includes achievements from our overseas subsidiaries.
4
5
Financial Highlights
Performance Overview in 2012
in USD thousands
in KRW millions
(K-IFRS)
Classification 2012
(K-IFRS)
(K-IFRS)
2011
Sales
Operation Profits
(K-IFRS)
2012
2011
2012
2011
$ 9,572,727 (₩ 10,253,347)
$ 453,788 (₩ 486,052)
2012
For the Year
Sales
9,572,727
7,457,890 10,253,347 7,988,145
Operating Profit 453,788 408,418
486,052437,456
Net Income
374,183 354,624 400,788379,837
Owners of the Parent Company
365,159 341,401
Non-Controlling Interests
391,122365,674
9,02413,223
$ 7,457,890 (₩ 7,988,145)
2011
$ 408,418 (₩ 437,456)
Daelim has achieved the largest sales record and operating profit in its history
through its successful external growth backed by diversification of projects and region
and profitability enhancement backed by management of capabilities in project execution.
9,66614,163
At Year-End
Total Assets
10,275,85710,050,083
11,006,469 10,764,643
Current Assets
6,808,040 6,683,632
7,292,090 7,158,838
Non Current Assets 3,467,817
3,366,451 3,714,379 3,605,805
5,683,807
5,720,517 6,087,925 6,127,245
Total Liabilities
Current Liabilities
4,461,3104,341,081 4,778,509 Non Current Liabilities
1,222,497
1,379,436 1,309,4161,477,514
Total Shareholder’s Equity
4,592,050
4,329,566 4,918,5444,637,398
New Orders
Order Backlogs Net Debt 7,000,426
10,022,244 22,931,53123,652,004
123.77%132.13%
Exchange Rate of USD / KRW
1,071.10
* K-IFRS Consolidated Basis
1,071.10
Order Backlogs
2012
$ 7,000,426 (₩ 7,498,156)
2012
$ 22,931,531 (₩ 24,561,963)
4,649,731
7,498,15610,734,826
2011
$ 10,022,244 (₩ 10,734,826)
2011
$ 23,652,004 (₩ 25,333,662)
Due to decrease of new orders which is linked to global economic recession,
Daelim has seen sluggish growth in volume of new order in 2012.
24,561,963 25,333,662
(7,578)438,311
Debt to Equity Ratio
New Orders
(8,117) 505,503
123.77%132.13%
Net Dept
Dept to Equity Ratio
USD million
Percentage
2012
2011
- $ 7,578 (- ₩ 8,117)
2012
$ 438,311 (₩ 505,503)
2011
123.77%
132.13%
Daelim has succeeded in efforts to improve cash flow for increasing
its resource of investment in securing new growth drive.
6
7
Saudi Kayan LDPE, Saudi Arabia
300,000
LDPE (Low Density Poly Ethylene) Manufacturing Facility
with Annual Production Capacity of 300,000 tons
Completion of
Saudi Kayan LDPE
Project
Saudi Kayan LDPE, Saudi Arabia
April 2012, Daelim successfully completed Saudi Kayan
LDPE Project for constructing manufacturing facility of
LDPE (Low Density Poly Ethylene) with annual production
capacity of 300,000 tons. Saudi Kayan Petrochemical
Company, an affiliate of SABIC, placed the order for this
project worth approximately USD 500 million. Following
completion of Saudi Kayan PC project and HDPE project,
the project successfully completed and has earned
recognition from SABIC for incomparable technological
competence.
8
9
3
Out of Six Packages Ordered, Daelim Has Received
New Orders for Three Packages
Winning
Orders of
3 Packages of
Saudi SEP
Saudi elastomers project, Saudi Arabia
(MTBE Decomposition Facility/Utilities and
Offsite Facilities/Carbon Black Facility)
In June 2012, Daelim was awarded orders of three packages
of Saudi SEP which include indirect supporting facility,
utilities and offsite, carbon black production facility and
MTBE decomposition facility within Elastomer Complex
in Saudi Arabia. The volume of the project will exceed
USD 700 million and all of the three packages have been
ordered by Al-Jubail Petrochemical Company. Al-Jubail
Petrochemical Company is a joint venture founded by a
Saudi state-owned petrochemical company, SABIC
and ExxonMobil with each claiming half of the share.
By winning the new orders, Daelim will continuously
execute projects which have been ordered by SABIC,
following Saudi Kayan PC project, HDPE project and
LDPE project ordered by Al-Jubail.
Saudi Kayan PC, Saudi Arabia
10
11
Dangin-Steel Power Plant, Korea
1,200
The Largest Coal Fire Power Plant in Vietnam
with the Capacity of 1,200mw
Total Plant
Solution Provider
Thai Binh II CFPP Project, Vietnam
A Vietnamese state-owned petrochemical company,
Petro Vietnam placed an order for Thai Binh II CFPP Project.
The project aims to construct a coal fire power plant
with the total capacity of 1,200MW for 45 months in Thai
Binh, which is located approximately 100km southeast
of the Vietnamese capital, Hanoi. Daelim will embark
on the project on lump-sum turnkey basis, covering
comprehensive array of services which include design,
procurement, project management and test operation.
The project marks its significance because it is financed
by KEXIM and JBIC, making contribution to export of
a financial service product as well.
Daelim is harnessing its resources to grow energy
generation business into a future growth driver. It has been
hailed by customers for its well-designed proposals from
the perspective of “initial investment and maintenance”
and concurrently, it has provided an optimal condition
for project execution by taking initiatives in large-scale
financing from partnerships between South Korean and
Japanese government. The project has secured Daelim’s
position as the total plant solution provider with ideal
balance of technological competence in EPC and capability
in financing arrangement in power plant business.
12
13
Yi Sun-Shin Bridge, Korea
1,545
The Fourth Longest Span 1,545m in the World
The First
Suspension Bridge
Built Solely with
Daelim's own
Technology
Yi sun-Shin Bridge, Korea
Boasting a span of 1,545m, the fourth longest in the world,
and world’s tallest concrete pylon with a height of 270m,
Yi Sun-sin Bridge was officially opened in February 2013.
A mega container ship of 18,000TEU with length of 440m
can safely navigate under the bridge. Furthermore, the
bridge is designed to be earthquake-proof and to withstand
earthquakes magnitude scale up to 8 Richter magnitude
scale. Yi Sun-sin Bridge is the first suspension bridge in the
country that is built purely with technology developed by
Daelim. The project is significant since South Korea is the
sixth country in the world to develop its own technology
required for construction of suspension bridges. Yi Sunsin Bridge, connecting Yeosu National Industrial Complex
and Gwangyang Industrial Complex, will make a landmark
and tourist attraction in the West and South Sea region
of South Korea, while contributing to increase of cargo
transportation among industrial complexes and reduction
of logistic costs.
Daelim will make the best use of the core technology
secured from completion of this Yi Sun-sin Bridge project
to establish its presence in overseas bridge markets.
14
15
Kangjung Goryeong weir, Korea
954
Total Length of 954m
The Longest Weir
in the Four Major
Rivers Restoration
Project
Kangjung Goryeong Weir, Korea
Kangjung Goryeong weir, the largest of all the weirs
in the Four Major Rivers Restoration project which is one
of the largest national projects throughout the history of
South Korea, has come to completion, achieving zero accident. It is the longest among all 16 weirs in the project with
total length of 954m. Especially having the design inspired
from Korean traditional musical instrument “kayakeum”,
the weir now has become a land mark of Nakdong river
area. Kangjung Goryeong weir, beyond its conventional
role as protection against inundation and draught, aims to
embrace environment friendly design taking overall eco
system into consideration. It is to provide the people with
an infrastructure to enjoy the river and the surrounding
nature. The weir is having its location adjacent to “The
Arc”, a cultural center which is designed by one of the
world’s well-known architect Hani Rashid and constructed
by Daelim, provides a panoramic view of both structures
at a single view.
16
17
International Pavilion in Expo Yeosu, Korea
132,636
Exhibition Facility with the Space Measuring the Total of 132,636m2
The Largest
Exhibition Facility
in Expo 2012
Yeosu, Korea
Daelim was involved in the construction of one of the
major exhibition facilities, “International Pavilion”,
within the limited construction period of 20 months
before the opening of Expo 2012 Yeosu Korea in May 2012.
International Pavilion was constructed with four levels
above ground and one underground level and is known
to be the largest exhibition facility with the space
measuring the total of 132,636m2. Throughout the
three months of exposition, the facility provided
grounds for exhibition booths representing over
100 countries to showcase and encourage cultural
exchange for more than 8 million visitors.
18
19
e-Pyunhansesang Gwanggyo, Korea
27
Implementation of 27 Kinds of the Latest Green Technology
The First
Energy-Efficient
Condominium That
Achieved Reduction
of Heating and
Cooling Energy
Cost Down to 50%
e-Pyunhansesang Ganggyo, Korea
With gross area of 127,448m2, e-Pyunhansesang Gwanggyo
accommodates 1,970 households with 22 units, each
unit consisting of 39 stories above ground and 3 levels
underground. Daelim implemented its cutting-edge
green technology to construct the new “Smart Eco”
condominiums that have the company’s intelligent,
eco-friendly and energy-efficient technology infused.
In addition, on the gross area of 5,935m2 with two
community centers, a fitness center and an administrative
office, the annex facility is constructed with cutting-edge
energy reduction technology, renewable energy and energy
monitoring system. The facility is known to be the first
heating and cooling energy independent facility to be
commercialized in South Korea.
20
21
22
A Value Creator in The Global
Construction Market
Review of Operations
Plant Works
Oil & Gas Plants / Petroleum Refinery Plants /
Chemical & Petrochemical Plants / Power Plants and Others
e-PyunhanSeasang Residential Project / Commercial & mixed Use Project
Civil Works
Road / Bridge / Railway / Waterworks and Sewage Facility /
Dam and Others
Petrochemicals
Polyethylene (PE) / Polybutene (PB) / Film
22
23
Plant Works
The Plant Business Division posted sales of USD 4.1 billion, accounting for 57% of
Daelim E&C Units’ total sales in 2012. Domestic market sales amounted to USD 1.0
billion, making up 24% of the revenue and from the overseas market, USD 3.1 billion to
make up 76% of the revenue. The Division recorded new orders of USD 3.1 billion, 48%
of Daelim E&C’s total new orders. The figure can be broken down into USD 1.2 billion in
new orders from the domestic market or 38% of the total, and USD 1.9 billion from the
overseas market or 62% of the total. The goal for new orders in 2012 is USD 7.7 billion.
Out of the entire amount, the company seeks to win USD 0.9 billion from the domestic
market to take up 11% of the entire volume. In addition, Daelim will place its focus on
winning orders from the overseas market amounting up to USD 6.8 billion to make up
89% of the entire volume.
In the midst of fierce competition in Saudi Arabia, Daelim has harnessed its
know-how from acquired and extensive experience and has won new orders
including: 1) Rabigh II CP-1 projects, a project ordered from PetroRabigh, a joint
venture established by state-owned Saudi Aramco and Japanese company
Sumitomo Chemical; 2) SADARA CHEM II ISS Package of SADARA Complex,
a project ordered by SADARA Chemical Company, a joint venture between
Saudi Aramco and The Dow Chemical Company and 3) Saudi Elastomers
Project(MTBE, CB, U&O), a project ordered by Al-Jubail Petrochemical
Company (Kemya), a joint venture between SABIC and Exxon Chemical Arabia
Inc., an affiliate of ExxonMobil Chemical Company. As such, Daelim pushes
ahead in diversification of customer base and business portfolio by receiving
orders from the first customer of the company, Tasnee for Butanol and Syngas
Project and from SABIC, for FEED of ACN-NaCN Project, while continuously
earning trust from existing customers and thus receiving additional orders.
In addition, Daelim has made a remarkable accomplishment in the Middle East
by winning order for KOC Installation of Telemetry System Project in Kuwait.
Furthermore, Daelim has begun to turn its focus from the region it has long
been faring well, the Middle East, to Southeast Asia and has since received new
orders from customers in the region. In particular, Daelim has demonstrated
its unrivaled global competitiveness by consecutively winning orders for
O-Mon 1-2 Fire Power Generation Plant Project in Vietnam, Thai Binh II Fire
Power Generation Plant in Vietnam and for ZAM100 Fire Power Plant in the
Philippines. The volume of these projects stand at USD 1.2 billion.
With energy shortage on the horizon, demand for power generation plants is
anticipated to be on a constant rise around the globe. In the midst of changes
in the market, Daelim has shifted its focus from what it has been prioritizing
on, the Middle East, to make its foothold in a new market, Southeast Asia.
The ambitious attempt has not only proven Daelim’s competitiveness in EPC
but also secured drivers for its future growth by revising the business portfolio
by business and region.
Sales in Plant Works
$ 4,080,776 (₩ 4,370,919)
2012
2011
$ 2,174,433 (₩ 2,329,035)
New Order in Plant Works
2012
2011
24
$ 3,138,141 (₩ 3,361,263)
$ 4,820,296 (₩ 5,163,019)
25
Oil & Gas
Chemical & Petrochemical
New Orders
New Orders
Installation of Telemetry System for Monitoring and
Control of Consumers Network System, Kuwait
In June 2012, Daelim has won the order of Telemetry
System Project with the total volume of US$ 198 mil.
from Kuwait Oil Company (K. S. C.). This project is to
construct a new control building called the Secondary
Consumers Networks Management Center (SCNMC)
with installation of new SCADA & Leak Detection System
in Shuaiba and its associated ancillaries and packaged
field equipment inclusive of metering skids, analyzers,
isolation & control valves and RTUs to enable monitoring
and control along the pipelines. The project will be
completed in December 2014.
Saudi Elastomers Project, Saudi Arabia (MTBE
Decomposition Facility/Utilities and Offsite Facilities/
Carbon Black Facility)
Daelim Industrial was awarded the order for the Saudi
Elastomers Project – the largest Synthetic Rubber Plant in
Saudi Arabia in June 2012. The Project is being developed
by Al-Jubail Petrochemical Company, a Joint Venture
with 50% investment participation between SABIC
(Saudi Arabia’s state owned petrochemical company)
and ExxonMobil. The project, which is part of a large
industrial complex in Saudi Arabia, is planned to have
a capacity of 400,000 tons of synthetic rubber per year
and was initially split ordered into 6 separate packages.
Daelim was selected to construct the Administration
Buildings, Utilities & Offsite of the complex, structure
that produces Carbon Black(50,000 tons per year),
which is used for car tires and synthetic rubber, MTBE
Decomposition plant (102 tons per year), where isobutene
the ingredient to Halobutyl synthetic rubber is, and thus
grasped the opportunity to be further awarded other
grand projects by SABIC – Saudi Kayan PC, HDPE, LDPE
Projects in Jubail. Daelim will carry out the engineering,
procurement and construction for the project with
expected commercial operation by April 2015.
Rabigh II (CP-1) Project, Saudi Arabia
Daelim received orders from PetroRabigh, a joint venture
established by a Saudi state-owned petrochemical
company, Aramco and a Japanese company, Sumitomo
Chemical, for construction of Rabigh II (CP-1) Project, to
construct a mega petrochemical complex on the shore
of Red Sea located near Rabigh, Saudi Arabia. This CP-1
package is a construction project for production facilities
that produce 384,000 tons of cumene and 75,000 tons
of phenol and 165,000 tons of acetone annually. Daelim
has won the new order on turnkey basis and aims to
complete the project by June 2015.
SADARA CHEM II ISS Project, Saudi Arabia
In September 2012, Daelim won a new order for
SADARA ISS Project, one of CHEM II Packages of SADARA
Complex. SADARA Complex is the largest petrochemical
complex that is being constructed by SADARA Chemical
Company, a joint venture between Saudi Aramco and
The Dow Chemical Company. SHROUQ CAN/NaCN FEED
Project, Saudi Arabia. This is a utilities & offsite project
of CHEM II (TDI/PMDI, MNB/DNT) Projects that are
currently being executed. A US-based company, Fluor
is responsible for engineering and Daelim has received
orders for LSPB (Lump Sum Procure & Build) to be in
charge of partial procurement of and construction. The
project is scheduled for completion in January 2015.
Butanol & Syngas Project, Saudi Arabia
Daelim won a new order for Butanol & Syngas Project
in the end of 2012. The project is commissioned by
Saudi Butanol Company (SABUCO), a joint venture
set up by SAAC, Saudi Kayan and SADARA.
This project aims to establish a set of facilities with
production capacity of 330,000 tons of n-butanol, 10,400
tons of i-butanol and 28,400 Nm3/h of syngas. Daelim will
be responsible for engineering, procurement, construction
and test operation in the wake of transition to LSTK.
The construction period is expected to be 28 months,
scheduled to complete in May 2015. Fluor B.V. Netherlands
is in charge of PMC for this project and the new facility will
be located within Tasnee Complex in Al Jubail Industrial
City, Saudi Arabia. The project will be executed in the
form of early work for the first six months and then
will be converted into the form of EPC LSTK. SAAC is a
joint venture of TASNEE, SAHARA and GOSI (General
Organization for Social Insurance) and is currently in
charge of order for early work. Daelim has had experience
working with all its customers (SADARA, Saudi Kayan
and SAHARA), with TASNEE being the only exception,
and now has the opportunity to take part in a project
run by a private ordering organization, TASNEE.
SHROUQ CAN/NaCN FEED Project, Saudi Arabia
In August 2012, Daelim signed a FEED orders for ACN
(acrylonitrile)/NaCN (sodium cyanide) Project run by
SHROUQ, a joint venture established by a Saudi stateowned petrochemical company SABIC and Japanese
companies, Asahi Kasei and Mitsubishi.
The project aims to construct production facilities to
produce 200,000 tons of acrylonitrile and 40,000 tons of
sodium cyanide annually for Al Jubail Industrial Complex
in Saudi Arabia. Daelim has signed a order for FEED,
a process taken before delving into detailed design,
procurement and construction. Daelim has received
orders with amount of USD 11.9 million and the duration
of order dates from August 2012 to May 2013.
9 Crude Oil Project, Kuwait
26
NCP Ploymers Project, Saudi Arabia
Shanghai IIP, China
27
Power Plants & Others
Completed Projects
New Orders
Saudi Kayan LDPE Project, Saudi Arabia
Led by an affiliate of SABIC, Saudi Kayan Petrochemical
Company has been constructed production facility of
LDPE with annual capacity of 300,000 tons. Daelim has
completed the construction as scheduled, in April 2012.
Thai Binh II CFPP Project, Vietnam
Thai Binh II CFPP Project is a project commissioned
by Petrovietnam (PVN), a Vietnamese state-owned
petrochemical company, to construct a coal-fired
power plant on a lump-sum turnkey basis to provide a
wide range of services including design, procurement,
supervision of work and test operation. Daelim has
partnered with a Japanese company, Sojitz Corporation,
and will take responsibility for basic and detailed design
and provision and test operation of power blocks which
include core parts and boilers of the power plant. The
project in Vietnam is anticipated to secure Daelim’s
competitive edge in winning order in power plant
business in the Southeast Asian region. Thai Binh II CFPP
project will undergo 45 months of construction period
and is scheduled for completion in the first half of 2016.
BASF Korea MDI Expansion Project, South Korea
MDI Expansion Project (expansion of Yeosu material plant)
ordered from BASF Korea was started in May 2011 and
was completed in May 2012. Producing highly functional
polyurethane raw material MDI used for a wide range of
applications such as automotive interiors, refrigerator
insulation, building materials, LNG carriers and cooling
materials, this project ramped up BASF Korea’s production
capability of MDI to the best in the industry.
Kumho Petrochemical S-SBE Project, South Korea
Kumho Petrochemical placed order for S-SBE Project to
expand its production facility located in Yeosu, South
Korea. Daelim embarked on the project in July 2011
and completed in November 2012. The project revolves
around producing S-SBR (Solution Styrene Butadiene
Rubber), which make up the core part of eco-friendly
tires that are widely used in advanced economies
including EU and Japan.
Petro FCC, Philippines
28
Omon I No.2 Thermal Power Project, Vietnam
Omon I No.2 Thermal Power Project is an ongoing
project that will meet soaring demand for electricity in
Vietnam, which is increasingly facing a power shortage
linked to rapid economic growth. Cantho, a state-owned
fire power plant company, has placed an order for this
project. Daelim will embark in the project on a lumpsum turnkey basis, partnering with Sojitz Corporation,
with the construction period of 36 months to construct
one unit of fire power plant with capacity of 330MW
in Omon, Cantho in Vietnam. Daelim anticipates that
the project will provide opportunities for ensuring
competitiveness for future orders in Vietnam and
other Southeast Asian countries,where demand for
power plants is dramatically increasing.
Ulchin Nuclear Power Plant 3&4, Korea
SRPI ZAM 100 CFPP Project, Philippines
SRPI ZAM100 CFPP Project is a project for the
construction of a coal-fired power plant. San Ramon
Power Inc., a subsidiary of Alcantara Group, has placed
an order for this project which is similar to Sarangani
Energy Corp.’s SM 200 Coal Fire Power Plant, also being
built by Daelim. The project will be executed on EPC
turnkey basis including design and provision of the core
parts of power plant, boiler and main facility. Daelim
pledges to construct an eco-friendly power plant by
implementing circulating fluidized bed boiler that will
significantly reduce emission of pollutants induced
from nitrogen and sulfur oxides. The project solidifies
Daelim’s position and competitive advantage in power
plant EPC business and will open ground for securing
competitiveness in winning new orders in the
Philippines and other Southeast Asian regions.
Ulchin Nuclear Power Plant Unit 3&4 Steam Generator,
South Korea
Daelim established a consortium with Doosan Heavy
Industries to receive an order for SGR Project for Ulchin
Nuclear Power Plant unit 1 and 2 from Korea Hydro &
Nuclear Power. The project is scheduled for completion
in May 2014. The projects involves replacement of Ulchin
Nuclear Power Plant Unit 3 and 4 (approximately 550
tons, 2 per each unit)) Daelim anticipates that this project
will secure competitive advantages in projects related
to replacement of steam generators.
2nd Pyeongtaek Combined Cycle Power Plant,
South Korea
This project is a order won by MHI/ Marubei Consortium
from Korea East-West Power in February 2012 on EP basis
and Daelim is currently taking part as the sub-contractor
of Marubeni. The project revolves around construction of
NG combined fire power plant with capacity of 947MW
within the power plant of Korea Western Power Co. Ltd.,
located in Poseung-myun, Pyeongtaek-si, Gyeonggi and
is scheduled for the completion by October 2014.
Ulsan #4 Combined Cycle Power Plant Block,
South Korea
In February 2013, MHI/ Marubeni/ Daelim Consortium
won a new order for Ulsan #4 Comined Cycyle Power
Plant Block Project from Korea East-West Power on EPC
lump-sum turnkey basis. The project aims to construct
NG combined fire power plant with capacity of 948MW
within Ulsan Fire Power Plant located in Nam-gu,
Ulsan and is scheduled to be completed in July 2014.
Taean #9,10 Project, South Korea
Daelim received a new order from Korea Western Power
Co. Ltd., for civil engineering and construction of unit #9
and #10 of Taean West Power, South Korea’s largest coal
fire power plant. This project involves civil engineering
and construction of two units of coal fire power plants
with capacity of 1,000MW within Taean West Power
located in Bangal-ri, Wonbuk-myeon, Taean-gun, South
Chungcheong Province and is scheduled for completion
in December 2016.
Buk-Pyeong Thermal Power Plant Units 1&2, South Korea
Daelim won a new order for South Korea’s first privately
run coal fire power plant, Buk-Gyeong Thermal Power
Plant, ordered by STX Electric Power Co. Ltd.,
on EPC lump-sum turnkey basis in September 2012.
Within Buk-Pyeong Industrial Complex located in
Bukpyeong-dong, Samcheok-si, Gangwon Province,
the project aims to construct two units of coal fire
power plants, each with capacity 595MW and is
scheduled to complete in June 2016.
Gawangyang Combined Cycle Power Plant, Korea
29
Projects in Progress
Completed Projects
Ulchin Nuclear Power Plant Unit 1&2 Steam Generator,
South Korea
Daelim established a consortium with AREVA to win a
order from Korea Hydro & Nuclear Power Co. Ltd., for
SGR Project of Ulchin Nuclear Power Plant unit 1 and 2
in June 2009 and was completed in July 2012.
The project aimed to replace steam generators unit
1 and 2 in Ulchin Nuclear Power Plant (approximately
340 tons, 3 per each unit) and further, for stable
operation of power generator to generate power of up
to 1000 MW from each unit. The project is anticipated
to resolve power shortage. Though the project faced a
challenge of working within three months of suspension
period for each unit, Daelim’s project team managed to
complete the project on time by meticulously managing
the process and operating night shifts to successfully
complete the project with outstanding performance in
test operation.
Shin-Kori Nuclear Power Plant, Korea
30
LNG supplying facility construction for Oseong CCPP,
South Korea
Korea Gas Corporation ordered “Oseng CCPP Project”
to install main pipes as long as 3.5km and construct a
facility for supply management office to ensure supply
of LNG. The project embarked in April 2011 and saw the
completion in August 2012. By securing supply of fuel for
Oseng CCPP, this recently completed project will play its
part in stable supply of energy in the local community.
Gwanggyo Combined Heat & Power Plant, South Korea
Korea District Heating Corporation issued an order for
“Gwanggyo Combined Heat & Power Plant Construction”
which includes the construction of a power facility,
heating facility and BOP to start in December 2009 to
October 2012. Gwanggyo Combined Heat & Power
Plant is anticipated to supply energy resource and
electric power to Gwanggyo residential district and
its neighboring area.
Oil & Gas Plants
-
-
-
-
LPG Train-4 at MAA Refinery,
Kuwait (2010~2013)
Samcheok LNG #1~4 Receiving
Terminal Project, Korea (2010~2013)
Daegu Renovation City LNG Pipeline
Construction Project, Korea (2011~2013)
KOC Installation of Telemetry System,
Kuwait (2012~2014)
Petroleum Refineries
-
-
-
Jubail Export Refinery – PKG 2B,
Saudi Arabia (2009~2013)
Saudi Aramco Yanbu Export Refinery
Project EPC 3&4, Saudi Arabia (2010~2014)
Petron Refinery Master Plan Phase-2 Project,
Philippines (2011~2014)
- CA/EDC Project, Saudi Arabia (2009 ~ 2013)
- JG Summit NCC Project, Philippines
(2009~2013)
- BASF MDI Chongqing Project,
China (2011~2014)
- Kumho Petrochemical S-SBR Project,
Korea (2011~2013)
- Kumho Polychem YEP-IV Project,
Korea (2011~2013)
- SADARA Mixed Feed Cracker Project,
- SADARA Isocyanates, Saudi Arabia
(2011~2015)
- Saudi Elastomers Project, Saudi Arabia
(2012~2015)
- Rabigh II (CP-1) Project, Saudi Arabia
(2012~2015)
- SADARA CHEM II ISS Project, Saudi Arabia
(2012~2015)
- SHROUQ ACN/NaCN FEED Project, Saudi
Arabia (2012~2013)
- Butanol & Syngas Project, Saudi Arabia (2013~2015)
Chemical & Petrochemical Plants
-
-
-
-
-
-
-
-
-
-
Preparation Construction Works of the
Samcheok Green
Power Plant #1,2, Korea (2010~2014)
Purchase of Boiler, Related Equipment and
Service for Dang-Jin 9&10 TPP,
Korea (2010~2016)
Pocheon Combined Cycle Power Plant,
Korea (2011~2014)
SAUDI Shoaiba II CCPP Project,
SM 200 Power Station Project,
Thai Binh II CFPP Project,
Vietnam (2012~2016)
Omon I No.2 Thermal Power Project,
Vietnam (2012~2015)
SRPI ZAM 100 CFPP Project,
Buk-Pyeong Thermal Power Plant Units
1&2, Korea (2012~2016)
Ulchin Nuclear Power Plant Unit 3&4 Steam
Generator, Korea (2012~2014)
Incheon LNG Terminal, Korea
31
Civil Works
The Civil Business Division posted sales of USD 1.0 billion in 2012, accounting for 15%
Daelim’s E&C Unit’s total sales. The figure can be broken down to USD 960 million or
92% from the domestic market, and USD 80 million or 8% from the overseas market.
Out of the total sum of order backlog, civil works stood at USD 885 million, thus
making up 14%. Daelim’s goal the Civil Business Division is receiving USD 2.2 billion
of new orders among which USD 1.2 billion or 55% is expected to be generated from
the domestic market and USD 1.0 billion or 45% from the overseas market.
Throughout 2012, competition among contractors in the domestic civil
infrastructure market intensified as total volume of new orders reduced
following the government budget cuts.
In turnkey and alternative proposal tenders, price competition became
fiercer with new orders having reduced by 50% from the previous year,
and the privately funded SOC market was placed on the plateaued as well.
Generally, overheated competition among contractors resulted in continued
profit reduction as large-sized contractors, as well as mid-sized contractor,
began to pour resources in securing new orders. Price competition
and number of new orders dropped due to delay of large-scale railroad
construction projects.
In overseas markets, rapid growth, led by the Middle East and Asia, continued
as mega projects for construction of infrastructure have been ordered.
Competition still remains intense as other international contractors also seek
to expand their share in the overseas markets.
In the midst of fierce competition, Civil Business Division secured its
competitive edge in its core business activities and made achievements by
ranking the top in receiving new orders in privately funded SOC projects, and
further, demonstrated outstanding performance in other areas in the domestic
market. Daelim pledges to maintain its competitive advantage by ensuring
market insights and preemptive measures against shifts of market trend.
Sales in Civil Works
2012
2011
$ 1,034,538 (₩ 1,108,094)
$ 1,250,734 (₩ 1,339,661)
New Order in Civil Works
2012
2011
32
$ 885,427 (₩ 948,381)
$ 1,434,556 (₩ 1,536,553)
33
Road & Bridge Construction
Major New Orders
Completed Projects
Anyang-Sungnam Expressway (Section 1)
With the Ministry of Land and Marine taking the initiative,
the private investment project of Anyang-Sungnam
Expressway extends to the lengths of 4.0km with six
bridges and is scheduled to be completed by May 2017.
This new expressway is designed to connect the east
and west part of the suburban and metropolitan areas
of South Korea. It will connect other cities and provinces
nationwide, as well as the metropolitan area.
Geumgang Bridge No. 2 of Multifunctional
Administrative City
Tendered by Korea Land & Housing Corporation,
Geumgang Bridge No. 2 of Multifunctional Administrative
City Project has involved construction of a concrete
towered cable stayed bridge with two sided three
dimensional curves. The total length will be 880m with
a tower bridge as long as 340m and connecting bridge
as long as 540m. As a transit terminal and a sporting
facility are located in the neighborhood, traffic density
is anticipated to be high. Furthermore, as a landmark of
Sejong City, the bridge is expected to create a beautiful
scenery in the area.
Deoksong-Naegak Expressway
Tendered by Deoksong-Naegak Expressway Corporation,
the expressway extends as long as 4.9km, with four
bridges and a tunnel with the length of 3.27km. The
project is scheduled to be completed in the first half of
2016. The project is expected to resolve traffic congestion
in the northeastern part of the metropolitan area and
Namyangju area and further is anticipated to contribute
to local developments by enhancing accessibility to
Namyangju and its neighboring Byeolnae residential area.
Entrance Road of Iksan General Industrial Complex
This project of constructing the entrance road of Iksan
General Industrial Complex is a tender placed by Iksan
City Office. The project aims to construct four-lane
roads as long as 11.86km in total with nineteen bridges,
connecting Iksan General Industrial Complex and
Yeonmu IC on Cheonan-Nonsan Express National Way.
This project is expected to enhance the transportation
of Iksan General Industrial Complex and accessibility to
the area, thereby stimulating regional development and
contributing to a balanced national development.
Main Road of Multifunctional Administrative City, Section 2, Korea
34
Yeosu City Detour
Daelim received a tender from Iksan Regional
Construction Management Administration under the
Ministry of Land and Marine to construct a detour with
the total length of 1.82km with a cable-stayed bridge
(464m), a close parallel tunnel (290m), and an access road.
The project was completed in June 2012. The detour is
constructed to substitute a national highway connecting
Woodoo-ri, Dolsan-eup and Sujeong-dong of Yeosu
City, South Cheonnam Provice and is anticipated to
promote a balanced regional development and enhanced
transportation of commodity in South Cheonnam
Province area.
Yi Sun-sin Bridge, Korea
Cheongpoong Grand Bridge
North Choongcheong Province tendered a construction
of Cheongpoong Grand Bridge extending up to 1.56km
including a 472m cable-stayed bridge and 1,088m
double-lane road which was completed at 2012 April.
The Cheongpoong Grand Bridge, which crosses Lake
Chungju located in between Multae-ri and Dohwa-ri of
Cheongpoong-myeon, Jecheon, North Choongcheong
Province, is constructed to replace the old bridge and
blends into the splendid scenery nearby. Daelim has
resolved various geographical challenges with its
experience and technological competence. And the
Cheongpoong Bridge is anticipated to become the
new landmark of the region also contri-buting to the
promotion of the tourism industry of the region.
Cheongpoong Grand Bridge, Korea
Geumgang Bridge No.2, Korea
35
Railway
Waterworks and Sewage Facility
Major New Orders
Completed Projects
Major New Orders
Completed Projects
Seohae Line Hongseong-Songsan Railway Section 5
Daelim received the tender from Korea Rail Network
Authority to construct the double track railway extending
up to 5.9km in total with earth works as long as 0.99km
and a bridge with a length of 5.9km. The railway connects
with Janghang Line southward to directly connect to
Cheolla and Honam line and through the New Ansan
Line and Wonsi-Sosa-Daegok New Line. It directly
connects to Gyeongeui Line to stretch across the west
coast of South Korea. In addition, the new railway will
resolve issues surrounding shortage of railway capacity
which is linked to sudden increase in transportation
commodities volume and make a detour line
in the metropolitan area.
Gyeongeui Line Yongsan-Munsan Railway 1-2C
Daelim received the tender from Korail Airport Railway
Corporation to construct Gyeongeui Line YongsanMunsan Railway 1-2C with a total length of 1.3km, 0.8km
of main railroad excavation, 0.5km of main railroad
tunnel and two ventilators. The project has successfully
completed in December 2012. This recently completed
project will provide access to railroad transporation for
residents of the northwestern metropolitan area of South
Korea and further resolve issues related to concentration
of population in downtown Seoul, playing its part for
balanced regional growth.
Expansion and Modernization Project of Seonam
Water Recycling Center
Seoul Metropolitan Infrastructure Headquarters tendered
the Expansion and Modernization Project of Seonam
Water Recycling Center to refurbish the above-theground facility with a capacity of 2000 m3/day into a new
underground facility with a capacity of 4000 m3/day.
This project is scheduled for its completion by February
of 2015. Upon completion, the new facility is expected to
respond to continuous increase of excreta and proactively
remove odor with excrements treatment facilities to
improve the living conditions of local residents.
Munmak Sewage Treatment Plant
Daelim received the tender from Wonju Waterworks
Authority to construct Munmak Sewage Treatment Plant.
The project first started in August 2007 and completed
in February 2012 with one processing facility (Q=7,000
tons/day), two pump stations, intercepting pipes with
its length of 13.14km (D80mm~D700mm). The water
quality of Seom-River and southern Han-River’s dramatic
improvement is expected through this project
Onsu-Bupyeong Subway Section 701
Daelim received the tender from Seoul Metropolitan
Infrastructure Headquarters to complete Onsu-Bupyeong
Subway Section 701 extending up to 2.6km in total
with one station, six ventilators, a tunnel as long as
2.1km and 0.3km of main railroad excavation.
The project has seen its successful completion in
December of 2012. With the extension of the subway
line #7, this project is anticipated to enhance convenience
for commuters by resolving the congestion of Gyeongin
line, as well as improving accessibility to downtown
areas of the Seoul, such as Gangnam.
Siheung City Sewage Facility
This project had been led by Siheung City Government,
Gyeonggi Province with private investment to construct
a facility with a capacity of processing 68,000tons of
a sewage and a pump station and refurbishment of
drainage pipeline. The project is scheduled to commence
in October 2013. The project will secure competitive
advantage and confidence for Daelim in global expansion
of water management business. With completion,
the facility will respond to sewage process which is
anticipated to increase dramatically, in line with a
construction of Eungaebogeumjari Housing in Gunja
Residential District. In addition, a baseball stadium and
swimming pools will be ready to provide a venue for
leisure activities for residents of Siheung City.
Shillim Line Light Railway Private Investment Project
Seoul Metropolitan Government has been taking
its initiatives in Shillim Line Light Railway Private
Investment Project to construct the railway with a total
length of 7.69km and one deport. Daelim is currently
undergoing discussions with Seoul Metropolitan
Government regarding the project execution. The
railway is designed to connect Yeoeui-do and Shillimdong to resolve traffic congestion in the southern
part of Seoul and is anticipated to contribute to local
community by promoting the regional development of
the neighborhood.
Mokdong Subway, Section 906, Korea
36
Kyungbu High-Speed Railway, Section 3-9, Korea
Dalseocheon Sewage Treatment Plant, Korea
Woongdong Sewage Treatment Plant
Tendered by Changwon Municipal Government,
Woongdong Sewage Treatment Plant processes sewage
amounting to 10,000 tons every day. The project was
completed in August 2012. With its completion, sewage
generated in Woongdong and Woongcheon areas is
efficiently treated. Thus water quality of Woongdong
Bay is expected to show much improvement.
Ilsan Sewage Treatment Plant, Korea
37
Other Projects
Major New Orders
Completed Projects
Improvement of Water Management Capability
of the Peace Dam
Korea Water Resource Corporation tendered this project
for improvement of flood control capability of the Peace
Dam by supplementing slopes of the downstream of
the dam with concrete. The project is scheduled for
construction commencement in November 2016. With
completion of the project, Peace Dam is anticipated to
provide protection in the downstream area, preparing
against abnormal weather conditions linked to abrupt
climate change.
Geoje Stockpiling Base Wharf
This project is a tender placed by Korea National Oil
Corporation to build Geoje Stockpiling Base Wharf
with one berth of harbor and relevant facilities with a
capacity of shipping crude oil of as much as 325,000 DWT.
The project has successfully been handed over in June
2012. The project will secure a substituting facility for
deterioration of buoys and reduce air pollution to ensure
efficiency in management activity of Korea National Oil
Corporation in the future.
Hanam Misa Bogeumjari Housing District
Construction Project (Section 2)
Daelim signed a new order with Korea Land and Housing
Corporation for Hanam Misa Bogeumjari Housing
District Construction Project (Section 2). The project
planned to provide a large-sized housing district , started
construction in March 2012 and the completion due
in April 2015. The district is anticipated to make a selfcontained city with multiple features including residential,
commercial, industrial and administrative functions fused
into the area. Further, it is expected to build a green
network connecting Han river and Mangwol Stream.
Inha Dam Spillways
The project has been aimed to improve the discharge
capacity of the existing Inha dam by taking stricter
measures on PMF and recent climate changes
accompanied with frequent heavy rain. This project has
involved construction of tunnel-type emergency spillway
with a 15m diameter, six units of radial gate, energy
dissipator and bridge. With the successful completion in
December 2012, the facility is expected to secure stability
of dam in the midst of inundation, while providing
protection for local residents and their assets.
Yecheon Pump Storage Power Plant
Construction of 800MW Yecheon pumped storage
power plant tender - civil and M&E packages - called by
the Korea Hydro and Nuclear Power Corporation was
successfully complete in December 2012. This project
was part of the South Korean government’s long-term
project to secure a diversified energy source.
It involved construction of a pumped storage power
plant to promote balanced development of power plant
facilities. The facility is anticipated to ensure efficiency
in power supply by pumping water back into the reservoir
during off-peak hours while generating electricity
during peak hours.
Domestic
Road Construction Projects
- Gwangyang City Detour (2006~2014)
- Gangnam Belt Expressway Section
7-2 (2007~2016)
- Suwon-Gwangmyeong Expressway
Section 6 (2011~2016)
- Sangju-Yeongcheon Expressway Section
1,2,4,10 (2012~2017)
- Extension of Woongdong-Jangyu
National Highway (2006~2014)
- Donghongcheon-Yangyang Expressway
Section 10 (2008~2015)
- Namhae Naengjeong-Busan Expressway
Section 5 (2009~2014)
- Seocheon-Boryeong National Highway
Section 1 (2009~2016))
- Choongju-Jecheon Expressway
Section 1 (2009~2014)
- Yeosu Hwayang-Najin Road (2009~2016)
- Euiseong Dain-Bian National Highway
Section 2 (2009~2016)
- Neighboring Roads of Byeolnae,
Namyangju (2010~2013)
- Accessway to Daegu Technopolis Section 1
(2010~2014)
- Relocating Road of Hantan River Dam
(2010~2014)
- Busan Belt Express Way
Section 2,9 (2011~2016)
- Woolengdo Round Road (2011-2016)
- Accessway to Iksan General Industrial
Complex (2012~2016)
- Anyang-Seongnam Expressway
Section 1 (2012~2017)
- Sihwa MTV Road (2012~2015)
Bridge Construction Projects
- Jeokgeum-Yeongnam Bridge
(2004~2014)
- Accessway to Yeosu Industrial Complex
Section 3 (2007~2013)
- Aphae-Amtae National Highway
Section 2 (2010~2018)
- Sokcho Gusuro Bridge (2005~2013)
- Accessway to Gogunsan Archipelago
Section 1,2 (2009~2014)
- Hangangol Grand Bridge,
Busan New Port (2010~2014)
Railway Construction Projects
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-
-
-
-
-
-
-
-
-
-
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Gyeongjeon Line, Masan-Haman Electric
Railway (2003~2013)
Ulsan-Pohang Subway,
Section 2 (2009~2014)
Honam High-speed Railway,
Section 3-2 (2009~2013)
Honam High-speed Railway,
Section 3-3 (2009~2012)
Poseung-Pyeongtaek Railway,
Section 1 (2010~2014)
Extension of New Bundang Line
Section 3 (2011-2016)
Honam High-Speed Railway
Rolling Stock Base (2011~2014)
Expansion of Incheon International Airport
Railroad-linked Facilities(2011-2014)
Onsu-Bupyeong Subway,
Section 701 (2004~2013)
Gyeongui Line Yongsan-Munsan Railway,
Section 1-2C (2005-2014)
Donghae Nambu Line,
Section 2 (2005~2015)
Incheon MetropolitanTransit (2009~2014)
Daegu MetropolitanTransit,
Section 305 (2009~2014)
Seoul Subway, Section 923 (2010~2016)
Daegu Line Dongdaegu-Yeongcheon
Railway, Section 4(2011~2016)
- Jeju Navy Base Section 2 (2010~2014)
- Incheon New Port Rear District (2010~2013)
- Ulsan New Port Rear District
Section 1 (2010~2014)
- Saemangeum Seawll Section 4 (2010~2015)
- Busan Saenggok Industrial Complex
Section 1 (2010~2013)
- Sea Rout of Pohang New Port (2011~2013)
- Gongju Shingwan Water Treatment Facility
(2011~2013)
- Han River Restoration Section 3-4
(2011~2015)
- Baekryeongdo Facility Phase 2 (2011~2013)
- Hanam Misa Housing District
Section 2 (2012~2015)
- Aviation Base, Baekryeongdo (2012~2013)
- Civil Engineering & Construction of Taean
Fire Power Plant Unit 9,10 (2012~2016)
- Enhancement of Capacity of Water
Management of Peace Dam(2012~2016)
- Modernization of Seonam Sewage
Treatment Facility (2012~2015)
- Hantan River Dam (2007~2014)
Overseas
- MCE, Singapore (2008~2013)
- Container Terminal, Vietnam (2010~2013)
Dam & Other Projects
- Hantan River Dam (2007~2014)
- Sihwa, Section 3 (2007~2016)
- Nakdong River Restoration
Section 23 (2009~2013)
- Seonam Water Recycling Center
(2009~2015)
- Busan Shinhan Terminal Pier
Phase 2-5(2012~2017)
- Incheon Cheongra District
Section 5 (2007~2013)
- Eoyujeong Port (2007~2014)
- Expansion of Asan Bay Floodgate
Phase 1 (2008~2013)
- Andong Dam Spillways (2008~2013)
- Pyeongtaek Sewer Pipeline BTL (2009~2013)
- Woongdong Port Rear District
Section 4 (2009~2014)
Geoje Stockpiling Base Wharf, Korea
38
39
Since 2008, the real estate market in South Korea has faced continuous
downturn and moreover, the construction market has ordered in volume –
housing penetration rate is highly saturated almost reaching 100% and the
construction industry is making up no more than 13% of South Korea’s GDP
today. As a result of the competition and high saturation, the domestic market
has been depleted in terms of winning new orders.
In the midst of such downturn in the market, Daelim has won fourteen new
order for technological proposal projects including new headquarters building
of KEPCO and Pangyo N-Square. These accomplishments were backed by
competitive advantages secured by the technological competence acquired
throughout Daelim’s seventy-four years of history.
Daelim pledges to create strategic technological proposals for a win-win
strategy with its clientele by providing technical assistance throughout project
execution stages including engineering, finance and operation. Rather than
simply securing competitive edge in price, Daelim shall perform due diligence
for the complete satisfaction of the customer. Further, Daelim has been
placing its resources in developing new business ideas to set itself apart in
the saturated industry. Daelim efforts came to fruition as it received three new
orders in 2012 alone – construction of Sejongro Hotel, Incheon International
Airport H2 Hotel and Euljiro Business Hotel. Proposal for numerous other
projects are ongoing and Daelim has a confident forecast in winning future
projects by offering customized technical assistance for each individual project.
In addition, Daelim is making efforts in securing competence in diverse
business areas by winning turnkey project contracts such as relocation of
Korea National Police University and electric work project for Gyeongsang
University Arthritis Center and Sejong City Government Building. Furthermore,
by winning orders in public housing projects (Wirye New Town Block A2-11),
Daelim has secured a niche market with relatively lower risk in the midst of
sluggish housing market.
Sales in Building & Housing Works
2012
2011
In 2012, Bulding & Housing Business Division posted sales of USD 2.0 billion,
accounting for 28% of Daelimd E&C Unit’s total sales. New orders stood at USD 2.5
billion or 38% of total amount. Daelim has set its 2013 goal at USD 1.6 billion or 22% of
total sales of its E&C Unit, while new orders, USD 2.2 billion or 18% the total amount.
40
$ 1,983,601 (₩ 2,124,635)
$ 2,096,572 (₩ 2,245,638)
New Order in Building & Housing Works
2012
2011
$ 2,469,009 (₩ 2,644,556)
$ 2,557,729 (₩ 2,739,584)
41
Major New Orders
Completed Projects
Pyeongtaek Hyeonchon Project and Wirye A2-11
Bogeumjari Housing Project are the new flagship
housing projects of Daelim. Pyeongtaek Hyeonchon
Project, measuring at 34,050m2, involves construction
of ten units of condominiums to house 632 households,
with 89,825m2 of architectural area, while Wirye A211 Bogeumjari Housing Project involves construction
of nineteen units of condominiums to house 1,543
households, with 235,443m2 of architectural area
on the land measuring 88,819m2.
Throughout 2012, Daelim completed major construction
projects including International Pavilion of Yeosu Expo
(architectural area: 132,636m2), International Finance
Center (architectural area: 506,334m2), History Museum
(architectural area: 10,733m2). Housing projects that
have recently completed include e-Pyeonhansesang
Gwanggyo, housing 1,970 households, Euiwang Naeson
(2,422units), Gaejaewul (1,686units), Gimpo Hangang
Phase 1 (955units) and Daegu Yulha District 2 (1,180units)
Additionally, new construction projects include NHN
Chuncheon Knowledge Campus (architectural area:
34,630m2), Sejongro Hotel (architectural area: 67,002m2),
Incheon International Airport H2 Hotel (architectural area:
70,261m2), NHN Pangyo (architectural area: 133,170m2),
Pyeongtaek Elementary & Middle School (architectural
area: 42,142m2), new headquarters building of KEPCO
(architectural area: 145,802m2), relocation of Korea
National Police University (architectural area: 87,506m2),
remodeling of Numun-dong office of Kyobo Life Insurance
(architectural area: 26,464m2)
e-Pyeonghansesang Cheonggu, Korea
42
e-Pyeonghansesang Residential Projects
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Geoje Gohyeon(2012~2014) 478 households
Gimpo Hangang Phase 2(2010~2014)
1,726 households
Namyangsan (2011~2013) 976 households
Namyangsan Phase 2 (2011~2013)
998 households
Nonnyeon Gyeongbok (2012~2014)
368 households
Dujeong Phase 2 (2011~2013)
848 households
Mapo Phase 3 (2012~2015) 450 households
Bomun (2011~2013) 440 households
Sejong (2007~2013) 983 households
Yangdeok (2007~2013) 637 households
Wangsimni (2012~2015) 364 households
Wangsimni District 2(2010~2014)
378 households
Ulsan Jeonha( 2010~2013) 1,475 households
Wolbae (2012~2014) 932 households
Naju LH(2012~2014) 1,029 households
- DMC Digital Cube (2011~2014)
- IT Complex (2009~2014)
- KIST R&D Center (2010~2013)
- KOTITI Gangnam Facility (2012~2014)
- NHN Chuncheon (2012~2014)
- NHN Pangyo (2012~2013)
- Garak Market Moderniczation Phase 1
(2011~2015)
- Gwangjin Acrotel (2012~2014)
- Gwanghwamun D Tower (2012~2014)
- Remodling of Kyobo Numun-dong
Office Facility (2012~2013)
- Remodeling of Kyobo Daejeon
Office Facility (2012~2013)
- Korea Armed Forces Athletic Corp.
(2009~2013)
- National Asia Culture Hall (2008~2014)
- National Assembly Members’ Office
Building (2009~2013)
- Green Bio (2009~2013)
- Baekryeongdo (2011~2013)
- Sejongro Hotel (2012~2015)
- Remodling of Sejong Cultural Center
(2010~2012)
- Sejong-si Library (2011~2013)
- Sejong-si Governmental Building
District 2-2 (2011~2013)
- Sunhwadong Office Buildling (2011~2013)
- Yeonpyeongdo (2012~2013)
- Yongin Daiso Herb Center (2011~2012)
- Yongin-si Citizens’ Sports Center
(2010~2015)
- Unbuk Leisure Complex Lanscaping
(2010~2013)
- Incheon International Airport H2 Hotel
(2012~2014)
- New Office Facility of KIESCO (2012~2014)
- Jeju O’Sulloc (2012~2013)
- Jinju Gyeongsang University Hospital
(2012~2014)
- Tongyeong Musical Hall (2010~2013)
- Pyeongtaek Housing(2009~2013)
- Pyeongtaek SLZ BTL (2012~2014)
- New Office Facility of KOPEC (2012~2015)
- Hannam-dong Residential Facility
(2012~2014)
- Aerospace Museum (2010~2014)
- Korea Coast Guard Academy (2010~2014)
- Jamsil Veterans Tower (2011~2013)
Commercial & Mixed Use Projects
Korea History Museum, Korea
Kyobo Building Remodeling, Korea
43
Petrochemicals
In 2012, the Petrochemical Business Unit posted total sales of USD 1.2 billion,
with domestic sales accounting for 49% total sales (USD 595 million) and overseas
sales, 51% (USD 622 million). The figure can be broken down into USD 655 million
generated from PE, USD 486 million from PB, USD 56 million from film and
USD 20 million from others.
Despite abrupt trend shifts in business and the downturn of this industry,
Petrochemical Business Division placed resources on development and production
of high quality and functional products and services and thus made its achievement
of increasing sales by 11% year-on-year. Furthermore, throughout 2012, to maximize
value and benefits for both shareholders and customers, the Division has placed
its focus on activities in work fields, quality improvement to meet market demand
and improvement of productivity.
In 2013, Petrochemical Business Division aims to raise sales amounting to
USD 1.2 billion, 48% from the domestic market (USD 608 million) and 52%
from the overseas market (USD 634 million).
Business performance of 2012 implies that the year could be defined with a
pair of keywords - crisis and challenge. Throughout the year, petrochemical
industry has seen no exception from the influence from European financial
crisis, uncertainty of economic circumstances in China and the sluggish
global economy. In particular, the industry has been affected by inundation of
low price PE products offered from businesses based in the Middle East and
uncertainty in one of the largest markets, China. Clearly, uncertainty in the
market environment has been a blow to Petrochemical Business Division.
Nevertheless, Petrochemical Business Division has made relentless efforts in
quality improvement and meticulous market analysis to overcome crisis and
further, turning it into an opportunity. To such extent, throughout 2012, starting
with polybutene, the Division has conducted various innovation activities to
offer high quality and highly functional specialty products and reduce material
price. As a result, despite predicaments, the Division performed well with
increase of sales by 11% year-on-year. In addition, sales profit marked
USD 37.3 million and thus marked an increase by 8% year-on-year.
In 2013, Petrochemical Business Division will not remain complacent in its
achievement but rather, revise its business portfolio to revolve around high
quality and high functionality and further, place more resources on securing
drive for future growth enabled by generating new business opportunities. In
parallel, the Division will keep up with its innovation to secure competence in
price and absolute advantages in quality. All these tireless efforts will be made
to transform Daelim into a chemical company equipped with professional
experience and knowledge and pursuit of sustainable growth.
Major Products
PE
460,000 tons/year
Polybutene 140,000 tons/year
BOPP film 25,000 tons/year
Sales in Petrochemicals
2012
2011
44
$ 1,217,539 (₩ 1,304,106)
$ 1,099,928 (₩ 1,178,133)
45
Polyethylene (PE)
Polybutene (PB)
Introduction
Introduction
Customer Value Proposal
Introduction
The PE Business achieved annual sales of 460,000 tons by
consistently raising operation efficiency since the adoption
the CP Chem method in 1989 and Basell method in 1996.
It supplies multi-purpose products to domestic and
overseas processing companies. In particular, we were the
first to commercialize metallocene PE (mPE) by utilizing
proprietary catalyst technology, contributing to customer
value creation.
We are striving to move the heart of customers, going
beyond the level of satisfaction, to create customer
value that is differentiated from that of competitors.
Our PB Business has also been endeavoring to build a
business model that realizes win-win between customers
and the company through the production and supply of
high-quality, strong-performance products.
We embarked on the BOPP Film Business in 1955. Key
customers are domestic and overseas companies engaged
in flexible packaging and lamination. The market has been
indicating an annual growth rate of 6% thanks to the rise
in global demand for eco-friendly, high-performance films.
In response, Daelim is currently building a new production
line with the plan to start commercial production in the
second quarter of 2013. The investment will position us
as a leading company equipped with a production system
that boasts 50,000 tons of annual capacity.
Our mPE product is equipped with strong mechanical and
optical property and low seal temperature. It is utilized for
various purposes including high-quality films. Particularly,
the HDPE product boasts excellent workability and longterm physical property in blow molding including that
for large drums and pipe forming, indicating outstanding
quality.
Daelim Polybutene is the first petrochemical plant in
Korea to be built 100% with domestic technology. The
construction of the plant with 12,000 tons of capacity
was completed in December 1993. Through a number of
expansions, plant No.1 was improved to a capacity of
75,000 tons. In October 2009, plant No.2 with a capacity
of 65,000 tons was built. As a result, we secured the total
capacity of 140,000 tons for PB, growing to become the
second-largest company in the global market.
The value of the PB production technology is
acknowledged externally, corroborated by the Jang
Young Shil Award, and designation as a next-generation
world-class product and one of the top 100 technologies
of Korea. We will secure the position as a global market
player by harnessing our proprietary source technologies
for catalyst and processing. The company will also
develop new and relevant products to diversify business,
establishing a competitive product portfolio.
Competitive Edge
The PE Business is making utmost efforts in product
development and turnout to ensure a stable supply of
high-quality and strong-performance products,
improving customer value.
Unlike the technology of competitors, our PB production
technology enables a swing process that churns out both
HRPB and conventional PB. As a result, we are able to
produce and supply customized products that satisfy
customer needs. A swift response system including
technical support has been set up in order to offer
differentiated customer value. In addition, our expertise
that allows stable plant operation provides the highest
level of quality to customers.
Competitive Edge
Sales in 2012 : USD 655 million
Film
Competitive Edge
We hold a production system that enables us to supply a
variety of high-quality products ranging from conventional
multi-purpose films to high-performance specialized films.
We are focused on strengthening global competitiveness
by securing and nurturing overseas marketing experts.
Moreover, the global network of Daelim Corporation, an
affiliate, serves as a platform for overseas expansion.
Daelim is striving to grow into a global company
specialized in films by developing and producing
high-performance, specialty products, thereby
providing customer value that stands out among
that of competitors.
Daelim Yeosu HDPE Plant, Korea
46
PB #2 Plant, Korea
47
Civil Engineering
Yi Sun-Shin Bridge, Korea
Development of Daelim Technology Suspension Bridge
Key Goal
Securing self-sufficiency
in technology of engineering
and construction of
suspension bridge
R&D
Major Achievement of 2012
Development of engineering
abilities and equipment for the
construction of cable and girder
which are considered as the
highest technology in the field
of bridge construction.
Major Benefit
Reduction of cost of cable
works for suspension bridge
by 7% and securing capability
in construction to maximize
competitive advantage in
relevant business activities.
Achievement in Technology Development
Throughout 2012, resources and focus have been placed company-wide in developing profitable
technology that would enable Daelim to push ahead with its activities of global expansion of
construction business and making its presence in new growth/green growth businesses. To such
extent, the R&D branch of Daelim, Daelim Technology Research and Development Institute (DTRDI)
has been maintaining its efforts in researching and developing technology related to water treatment, Eco & Smart House, transformation of waste into resources, sea crossing infrastructure,
offshore wind power energy and recently, it has begun to see outcomes. Further, DTRDI aggressively
continues its research and development activities by expanding its pool of human resources to
promote development of core technology related to new growth businesses.
As a result, in 2012, one of the technologies has been designated as a new technology, two of them,
green technology and twenty-one of them acquired patents and four programs have been applied/
registered for patents. In addition, DTRDI began to collect royalties by running relevant businesses
related to the developed technology.
Furthermore, by taking proactive measures in providing technical assistance, Business Divisions
have seen significant reduction of cost and remarkable decrease in the number of cases of accidents
by operating technical safety process, including management of type of work with high risks. Also,
by providing assistance in technological proposals, DTRDI contributes in securing price competitive
edge and accomplishment in winning new orders.
Daelim’s technological competence came to be widely recognized outside of its organization and
has won fourteen awards including some from the Minister of Land and Marine and one from the
Minister of Education, Science and Technology.
48
Geumgang Bridge No.2, Korea
Cost-reducing Binding Material for Special Concrete
Key Goal
Reduction of lead time for
constructing PSCs by 15% and
development of binding material
to reduce amount of use of
cement by 20%
Early strength concrete in
marine use has been developed
to be implemented in Angol
Grand Bridge in Busan New
Port. In addition, by shortening
lead-time of implementing PSC
Box Girder, construction period
has been reduced by approximately 15%. Further, by reducing
amount of use of cement by 20%
to enhance solidity, the development made achievements in cost
reduction as well.
Major Benefit
Cost reduction and enhancement of competitive advantage
by claim leadership in technology related to above-sea bridge
construction.
49
Environmetal Engineering
Architectural Engineering
GT Tower, Korea
Post-Tensioned Outrigger System with Delayed Joint
Key Goal
Development of new posttensioned outrigger system
and cost reduction by 5% via
optimization of engineering
New post-tensioned outrigger
system has been developed with
adequacy for residential buildings as high as 50~60 stories and
completed patent application. The
new system will not only be effective in cost reduction but also
shortening construction period.
Major Benefit
New post-tensioned outrigger
system has substituted conventional SRC belt well and reduced
cost by 5%.
Architectural Environment
Dalseocheon Sewage Treatment Plant, Korea
Development of Sludge Reduction Sewage Treatment SBR Process
Key Goal
To secure proprietary technology
needed to enter into water-related business in the sewage treatment field and to reduce sewage
treatment costs by 30%.
50
The amount of excess sludge
was reduced by 63.5% compared
to that of conventional sewage
treatment process through the
development of pre-reduction
technology on excess sludge
generated while treating sewage water during the process.
As a result, the technology was
awarded the *NET & ETV certificate (No. 345, 2011.07.29) by the
Ministry of Environment. Also,
we managed to obtain the certification of Green Technology
(No. GT-12-00027, 2012.02.23).
Major Benefit
Construction cost reduction
of 5%~8% when the sewage
treatment T/K is reflected, and
leading the development of
environment friendly and green
technology for sewage treatment in Korea.
e-Pyunhansesang Gwanggyo Phase 2, Korea
Daellim Vacuum Insulation Glass
Key Goal
Development of high quality
vacuum insulation glass and
demonstration of function via
applicability tests
Samples of high quality vacuum
insulation glass (U-value 0.4 W/
m2K : IFT Rosenheim, Germany)
have been implemented for
e-Pyeonhansesang Gajaewul.
Further, it has been implemented
in KEPCO headquarters building, thereby achieving energyefficiency.
Major Benefit
Deemed as essential material for
achieving energy efficiency, the
product secured price competitiveness by 15% in comparison
with similar products from other
competing businesses.
51
Safety
Activities in Pursuit of Accident-Free Workplace
Compliance to OHSAS 18001
To ensure the constant improvement of safety levels, Daelim has been certified with
OHSAS 18001 in 2009. Daelim periodically undergoes renewal and ex post facto review
activities to verify its relevance to the system.
Execution of Policy of Intensive Management
Daelim conducts analysis on accidents that occured five years surrounding both the industry
and itself and formulated optimal intensive management plans.
In 2012, under the slogan, “I do safety activities myself!” Daelim has expanded its activities
to systemization of prediction of risks, preemptive measures on eradicating risk factors and
voluntary activities among employees to secure safety. Activities are continuously monitored
to discover best practices and employees are encouraged for participation and implementation.
Safety Education for Employees of All Positions
Daelim conducted safety training for employees and those of its partnering companies. Customized
for scope of work and responsibility of every position, the efforts have not only provided opportunity
in acquiring basic knowledge and raising awareness for safety but also for raising the awareness
and responsibility of every individual. Thus Daelim’s efforts opened grounds for all employees to
ensure rigorousness in assuring safety at work.
Safety & Environment
With focus on respect for humanity as a core part of principle for management activities, all
employees of Dealim are continuing their efforts in creating optimal and safe working conditions.
Keeping in mind that “safety is a necessity, not an option,” safety is prioritized across all
construction activities. Additionaly, Daelim is widely recognized for its emphasis on safety by
conducting activities to ensure safety by implementing Safety & Healthy Management System.
Further, as a business with its leadership in eco-friendly business activities, Daelim has implemented
ISO 14001 since 1997 and is leading in response to climate changes and reduction of energy
consumption. For instance, Daelim has begun to conduct a company-wide campaign series named
“Green Habit” to reduce global warming gas emission and in parallel, is meticulously managing
data of global warming gas emission. In 2011, Daelim has become the first construction business to
have been certified with Green Management System Certification and currently taking its leadership
in relevant activities.
e-Pyunhansesang Goyang Wondang, Korea
52
53
Safety
Environment
Management of Global Warming Gas Emission
Management of global warming gas emissions and third party verification to reduce emission
For the purpose of reducing global warming gas emission, Daelim inaugurated a company-wide campaign,
Green Habit, and established its own database system, Daelim Environment Management System (DEMS),
to thoroughly manage global warming gas emissions from its headquarters building, on-site offices,
employees’ residential facilities and equipment. For securing reliability of data, Daelim has commissioned
DNV for third party verification in 2012.
For global warming gas, verification has been collected for the year 2012, and the detail is provided as below.
e-Pyunhansesang Goyang Wondang, Korea
Accident Rate
(Unit: ton CO2 -e)
Direct Emissions
(Scope 1)
19,731 Indirect Emissions
Total
Emissions
(Scope 2)
Other Indirect Emissions
(Scope 3)
31,769
182,766 234,266
Relatively lower rate in comparison with industry average
Accident rate of Daelim has recorded relatively lower than that of the industry average, 0.05% and
is thus demonstrating its stability. Further, Daelim is aspiring to make its work place accident-free.
Major Accomplishment of 2012 (Zero-Accident Sites)
- Nineteen sites including e-Pyeonhansesang Gimpo Hangang Phase 1
- JER, Saudi Arabia: 20 million man hours
- Kayan LDPE, Saudi Arabia: 15 million man hours
- SAMAPCO CA/EDC, Saudi Arabia: 14 million man hours
- LPG Train, Kuwait: 12 million man hours
ISO14001 and Verification of Green Management System
After the fact review for ISO14001 to ensure sustainable management.
In 1997, Daelim acquired ISO14001 verification and claimed leadership in eco-friendly management
practices among all other construction companies. In 2012, Daelim has commissioned LRQA Korea for the
third party verification to ensure sustainable management and further improve its business performance.
In addition, in 2011, Daelim acquired and began operating Green Management System to assure prompt
response to climate change and efficient use of resources.
Accident Rates for Late 3 Years (By Ministry of Employment and Labor)
Percentage
2012
2012
2011
2011
54
0.46%
Average of Construction Industry in Korea
0.05%
Daelim Industrial Co. Ltd., (Expected)
0.46%
0.05%
Major Accomplishment of 2012
- Awarded in Korea Green Management Award
- Awarded in Best Practice in Construction Environment Management
- Certification of Green Technology
- A series of environment cleaning campaign, “Cleaning one mountain, one river and one street”
- Company-wide offline and online education programs
- Certification as eco-friendly workplace (Samcheok Production Base)
Daelim Industrial Co. Ltd.,
2010
2010
0.11%
0.41%
Daelim Industrial Co. Ltd.,
55
Social Contribution
"Daelim is taking part in creating a world where all are happy"
we take the greatest joy and happiness in sharing good things under the Hansup(great forest) spirit.
We pledge to share our happiness with our stakeholders in a world that is pleasant and abundant,
as well as expansive and unlimited.
Social Contribution
Daelim, as a responsible corporate citizen that fulfills its social responsibility, maintains its firm
ground for its philosophy of social contribution. Based on its philosophy, “Creating a pleasant and
abundant life,” Daelim is continuing its relevant social contribution activities by seeking ways for
sustainable growth with local communities.
Sharing of Happiness
(A series of activities to promote
improvement of living conditions of working
class who do not own their home)
Daelim has been harnessing its expertise to
conduct Sharing of Happiness activities since
2005, a series of activities to promote improvement of living conditions of the working class.
In 2012, Daelim partnered with Habitat Korea to
visit Ewha Maeul, Jonro-gu and Jangsoo Maeul,
Seongbuk-gu in Seoul to conduct activities of
maintenance. In addition, Daelim employees are
actively participating in monthly maintenance
activities for homes of single seniors residing
in Yeongdeungpo, Seoul.
Sharing of Friendship
(A series of volunteering activities,
partnering with local communities)
Daelim employees are teaming up to conduct
volunteering activities on a regular basis to give a
helping hand for the underprivileged in every corner of society by partnering with welfare facilities
including orphanages and senior homes. Employees are visiting these facilities on a weekly-basis
for cleaning, preparing meals and exchanging
conversations and further, a significant number of
special interest groups are making their contribution by harnessing their knowledge and skills. In
every construction site, a significant number of
crews are teaming up under the name of “Hansoop Volunteer Group” to serve members of local
communities who need a helping hand.
To ensure happiness and enrichment in life of the underprivileged in South Korean society,
Daelim has been continuing five activities of sharing called “Nanoom”. Daelim is harnessing its
knowledge and experience in its construction business and industry and working closely with local
communities to make contributions that would eventually benefit underprivileged members of
communities.
56
57
Financial Review
Sharing of Culture
(A series of activities to provide opportunities for
the underprivileged to explore cultural activities)
To ensure that the underprivileged of the South
Korean society can explore cultural activities from
their younger age, Daelim has been sponsoring art education programs and other relevant
programs that provide opportunities of exploring
arts. Since 1994, Daelim has been a member of
Korea Mecenat Association and has been providing support in culture and art related activities
for orphaned children in Seoul and Gyeonggi
Province areas. In addition, since 2010, Daelim has
partnered with its affiliate, Daelim Contemporary
Art Museum to run social contribution programs
by means of offering programs more than ten
times every year for four hundred children.
Clean Sharing
(A series of activities for the purpose of
environment protection)
To preserve and maintain a clean environment
for future generations, Daelim is taking initiatives in cleaning activities. As part of the efforts,
Daelim has inaugurated “Clean Sharing Volunteer
Group”, mostly made up of Daelim employees,
to work closely with local governments in ten
regions across South Korea to conduct campaigns
such as “cleaning and caring one mountain, one
river and one street”. Since 2005, employees and
families with Building & Housing, Civil works,
Plant and Management Division have begun to
take part in cleaning activities in Nam-San and
have been continuing relevant activities on a
regular basis.
Selected Financial Data
Report of independent auditors
Consolidated Statements of Financial Position
Consolidated Statements of income
Consolidated Statements of appropriations of Retained earnings
Consolidated Statements of Cash Flows
Sharing of Hope
(A series of activities to support those with
physical disabilities and support for research
in relevant fields)
For physically challenged and underprivileged
persons who need opportunities of rehabilitation, Daelim has been continuing its Sharing of
Hope activities, mainly by making donations and
providing financial support for researchers and
aspiring social workers via scholarship foundations. Since 2004, Daelim has donat second hand
computing devices to its partnering rehabilitation facilities. Some of the donated devices
are shipped overseas to promote education in
underdeveloped countries as well. In commemoration of its 50th anniversary in 1989, Daelim has
established its own non-profit foundation called
“Suam Scholarship Foundation” to provide support for university students and research activities
in academia.
58
59
Selected Financial Data
Independent Auditor’s Report
20122011
in USD thousands (K-IFRS) in KRW millions (K-IFRS)
in USD thousands (K-IFRS)
in KRW millions
(K-IFRS)
Operating results
Sales 9,572,727 10,253,347 Gross profit 965,326 1,033,961 867,965 929,677
Operating income 453,788 486,052
408,418 437,456
Income before income tax 522,886 560,064 484,978 519,460
Net income 374,183 400,788 354,624 379,837
7,457,890 7,988,145
Financial Position Current assets 6,808,040 7,292,090 Non-current assets Total Assets Current liabilities 4,461,310 4,778,509 4,341,081 4,649,731
Non-current liabilities 1,222,497 1,309,416 1,379,436 1,477,514
Total Liabilities 5,683,807 6,087,925 5,720,517 6,127,245
Capital stock 203,996 218,500 203,996
218,500
Other paid-in-capital 473,251 506,899 478,628 512,658
Retained earnings Other equity Non Controlling Interest
Total Shareholders’ Equity 3,467,817 3,714,379 6,683,632 7,158,838
10,275,857 11,006,469 3,738,869 4,004,703 45,362 130,571
4,592,050 48,587 139,855
4,918,544 3,366,451 3,605,805
10,050,083 10,764,643
3,382,939 3,623,466
58,124 205,879
4,329,566
62,257
220,517
4,637,398
Ratio
Net income margin 3.90%
4.76%
Return on assets 3.64%
3.53%
Return on equity 8.15%
8.19%
Debt-to-equity 123.77%132.13%
Current ratio Exchange Rate of USD/KRW 152.60%
1,071.10
154.00%
To the shareholders and the board of directors of Daelim industrial co., Ltd.:
We have audited the accompanying consolidated financial statements of Daelim Industrial Co., Ltd. and
subsidiaries (collectively, the “Group”). The consolidated financial statements consist of the consolidated
statements of financial position as of December 31, 2012 and 2011, respectively, and the related
consolidated statements of income, consolidated statements of comprehensive income, consolidated
statements of changes in stockholders’ equity and consolidated statements of cash flows, all expressed
in Korean won, for the years ended December 31, 2012 and 2011, respectively. The Group’s management
is responsible for the preparation and fair presentation of the consolidated financial statements and our
responsibility is to express an opinion on these consolidated financial statements based on our audits.
We did not audit the financial statements of Daelim Saudi Arabia Co., Ltd., and four other subsidiaries
whose financial statements represent 3.12% and 3.62% of the Group’s consolidated total assets as of
December 31, 2012 and 2011, respectively. Those subsidiaries represent 6.37% and 5.68% of the Group’s
consolidated total sales for the years ended December 31, 2012 and 2011, respectively.
We conducted our audits in accordance with auditing standards generally accepted in the Republic of
Korea. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the consolidated financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial
statements. An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall consolidated financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects, the financial position of the Group as of December 31, 2012 and 2011, respectively, and the
results of its operations and its cash flows for the years ended December 31, 2012 and 2011, respectively,
in conformity with Korean International Financial Reporting Standards (“K-IFRS”).
Accounting principles and auditing standards and their application in practice vary among countries.
The accompanying consolidated financial statements are not intended to present the consolidated
financial position, results of operations, changes in stockholders’ equity and cash flows in accordance with
accounting principles and practices generally accepted in countries other than the Republic of Korea.
In addition, the procedures and practices utilized in the Republic of Korea to audit such consolidated
financial statements may differ from those generally accepted and applied in other countries. Accordingly,
this report and the accompanying consolidated financial statements are for use by those knowledgeable
about Korean accounting principles and auditing standards and their application in practice.
1,071.10
* K-IFRS Consolidated Basis
March 4, 2013
This report is effective as of March 4, 2013, the auditors’ report date. Certain subsequent events or circumstances may
have occurred between the auditors’ report date and the time the auditors’ report is read. Such events or circumstances
could significantly affect the accompanying consolidated financial statements and may result in modifications to the
auditors’ report.
60
61
Consolidated Statements of Financial Position
As of December 31, 2012 and 2011
20122011
20122011
in USD thousands in KRW millions in USD thousands in KRW millions
(K-IFRS)(K-IFRS)(K-IFRS)(K-IFRS)
Assets
Liabilities
Current Assets
Cash and cash equivalents Short-term financial instruments
Current Liabilities
1,378,673 1,476,697 1,237,081 1,325,037
Trade and other accounts payable
1,950,311 2,088,978
1,597,436
1,711,014
32,866 35,203
145,758
156,121
Progress billing due to customers
739,369 791,938 725,675
777,270
Trade and other accounts receivables
2,371,858 2,540,497 2,345,019
2,511,750
Short-term borrowings and current
314,040 336,368
441,570
472,966
Progress billing due from customers
1,279,523 1,370,497
1,071,810
1,148,016 Portions of long-term liabilities
318,266
340,895
437,163
468,245
Payable related to held for sale
120,163
128,707
86,688
92,851
Inventories
Non-current assets held for sale Derivative assets
Other current assets 1,078,0381,154,687 1,286,8091,378,301
121,716 130,370
86,688 92,851
Income tax payable
72,060 77,184 87,317
93,525
39,764 42,591 13,327
14,275 Derivative liabilities
8,664 9,280
31,674
33,926
Other current liabilities
938,436 1,005,159 933,558
999,934
4,461,309 4,778,509 4,341,081
4,649,731
505,600
541,548 497,140 532,487
6,808,038 7,292,090 6,683,632
7,158,838
Non-Current Assets
Long-term financial instruments
Non-Current Liabilities
15,311 16,400
15,177 16,256
Long-term trade and other accounts payable
220,605 236,290
127,614
136,687
Long-term trade and other accounts receivables
948,988 1,016,461 725,408 776,984
Borrowings and corporate bond
771,655 826,520
976,053
1,045,450
Investments in subsidiaries
601,566
644,337 620,987 665,139
Retirement benefit obligation
28,873 30,926
29,950
32,079
Available-for-sale financial assets
245,267 262,705 250,562
268,377
Provision for construction warranties
67,912 72,741
74,248
79,527
Property, plant and equipment
1,416,500
1,517,213
1,526,361 1,634,885
Other provisions
4,165 4,461 3,823
4,095
48,431 51,874
93,470
100,116
1,241 1,329
6,027
6,455
79,614
85,275
68,252
73,105
Intangible assets
Investment property Derivative assets
Deferred tax assets
Other non-current assets
Total Assets
73,959 79,218 71,587 76,677
Financial guarantee contract liabilities
112,393 120,384 112,968 121,000
Derivative liabilities
4,232 4,533
737 789
Deferred tax liabilities
49,594 53,120 29,133
31,204
1,222,496
1,309,416 1,379,4371,477,514
7
8
13,532
14,494
Total Liabilities
5,683,805 6,087,925
5,720,518
203,996 218,500 203,996
3,467,817 10,275,855
6,127,245
3,714,379 3,366,4523,605,805
11,006,469 10,050,084 10,764,643
Shareholders’ Equity
Capital stock
Other paid-in-capital
Retained earnings
Other equity
218,500 473,251 506,899 478,628
512,658
3,738,869 4,004,703 3,382,939
3,623,466
45,362 48,587
58,124
62,257
Non controlling interest
130,571
139,855
205,879
220,517
Total Shareholders’ Equity
4,592,050
Total Liabilities and Shareholders’ Equity
62
10,275,855
4,918,544 4,329,5654,637,398
11,006,46910,050,08310,764,643
63
Consolidated Statements of Income
Consolidated Statements of Comprehensive Income
For the Years Ended December 31, 2012 and 2011
20122011
20122011
Sales
9,572,726 Cost of Sales
8,607,400 9,219,386 6,589,9257,058,469
Gross Profit
965,326 1,033,961 867,965929,677
Other Comprehensive Income (Loss)
511,539 547,909 492,220
453,787 486,052 408,419437,457
Selling and administrative expenses
Operating Income 10,235,347 7,457,890
459,546
7,988,146
Net Income 374,183 400,787 354,624379,838
Gain (loss) on valuation of 107
115 (97,207) (104,118)
available-for-sale financial assets Other income
250,179
267,967 281,786
301,821
Other expense
(216,994) (232,422)
(208,679)
(223,516)
Loss on disposal of available-for-sale (1,992)
(2,134) (3,590)
(3,845)
financial assets held for sale Financial income 89,627 96,000 88,391
94,676
Loss on overseas operations translation Financial expense
(95,427)
(102,212)
(120,505)
(129,073)
Effect of equity method capital change
Equity method profit/loss
41,713
44,679
35,566
38,095
Effect of capital changes not under the equity method
(18,889)
(20,232)
5,869
6,286
415
445 5
5
(194)
(208) -
-
-
-
Income Before Income Tax
522,887 560,064
484,978
519,460
Income Tax Expense
148,703 159,276 130,354
139,622
Net Income
374,184 400,788 354,624
379,838
Actuarial loss on defined benefit plans 9,024
9,666
13,223
Net Income Per Share
Tax effects on the other
comprehensive income(loss)
Basic earnings per share
9,456 10,128 8,840
9,469
(18,319)(19,621) (88,934)(95,257)
Diluted earnings per share
9,456 10,128 8,840
9,469
Comprehensive Income 355,864 64
Non-controlling Interests
14,163 Effect on valuation of deravative instruments -
-
(7,489)
(8,021)
(19,495)
(20,881)
9,723
10,414
25,484
27,296
381,166 265,690284,581
65
Consolidated Statements of Changes in Stockholders’ Equity
(in USD thousands)
Balances as of January 1, 2011
Capital
stock
Other
paid-incapital
Retained
earnings
NCI
135,246
58,065 3,958,666
-
(14,115)
(17,897)
15,413
13,223
502,037
Dividends
-
-
Comprehensive Income
-
-
327,398
Net income
-
-
341,400
Loss/Gain on valuation of available-for-sale
-
-
-
(75,821)
-
(75,821) financial instruments held-for-sale
(3,781)
(77,122)
-
(in KRW millions)
Total
shareholders'
equity
203,996 3,059,322
Other
equity
Capital
stock
Other
paid-incapital
Retained
earnings
NCI
Total
shareholders'
equity
144,862
62,193 -
(15,119)
(19,169)
16,509
284,580
14,163
379,837
218,500 537,732
Dividends
-
-
265,689
-
-
350,676
354,623
Net income
-
-
365,674
-
-
-
(81,212)
-
(81,212) financial instruments held-for-sale
3,276,840
Other
equity
(4,050)
(82,605)
-
4,240,127
-
-
-
(3,468)
1
(3,467) financial instruments Loss/Gain on valuation of available-for-sale
-
-
-
(3,715)
1
(3,714) financial instruments Loss on overseas operations translation
-
-
-
Loss on overseas operations translation
-
-
-
-
-
-
-
-
-
Effect of capital changes not under
the equity method
-
-
-
the equity method
-
-
-
Actuarial losses on defined benefit plans
-
-
-
-
Changes in Other NCI's equity
-
Changes in subsidiary's equity
-
Changes in conslidation scope
-
Balances as of December 31, 2011
-
(14,002)
2,845
(676)
-
-
3,024
-
-
(835)
(676)
-
(14,837)
(1)
-
-
Changes in Other NCI's equity
-
-
-
146,284
122,875
-
-
-
-
233
233
-
203,996
478,627
3,382,939
58,124
205,879
4,329,566
203,996 478,627
3,382,939
58,124
205,879
4,329,566
Dividends
-
-
-
-
359,712
Net income
-
-
365,159
(23,410)
(724)
-
-
3,239
6,286
-
(724)
-
-
(894)
-
-
-
-
156,685
131,611
-
-
-
250
250
218,500
512,658
3,623,466
62,257
220,517
4,637,398
218,500 512,658
3,623,466
62,257
220,517
4,637,398
(25,074)
-
-
8,915
355,865
-
-
385,287
9,024 374,183
Net income
-
-
391,122
-
-
-
82
-
82
financial instruments held-for-sale
-
-
-
88
-
88
financial instruments held-for-sale
-
-
-
(1,555)
-
(1,555)
financial instruments
-
-
-
(1,666)
-
(1,666)
financial instruments
-
-
-
(19,036)
(18,890)
-
-
-
(20,389)
-
-
-
7,894
7,894
-
-
-
8,455
the equity method
-
-
-
(147)
the equity method
-
-
-
-
-
Acquisition of subsidiary's treasury stock
-
(12)
-
(5,365)
-
203,996 66
(147)
146
-
-
-
(1)
Dividends
(12,762)
(4,050)
(1)
(15,892)
(17,620)
-
-
(14,998)
3,047
(13,839)
(3,781)
(1)
5,869
(13,670)
-
(158)
(14,823)
(18,873)
9,549
381,166
9,666 400,788
156
-
-
(20,233)
8,455
(158)
-
(255)
(5,702)
-
-
(273)
(6,108)
-
-
(5)
(17)
Acquisition of subsidiary's treasury stock
-
(12)
-
-
(5)
(17)
-
-
(16,017)
(21,382)
-
(5,747)
-
-
(17,156)
(22,903)
-
-
-
(54,362)
(54,362)
-
-
-
-
(58,227)
(58,227)
473,251
3,738,870
45,362
218,500
506,899
4,004,703
48,587
(5,447)
130,571
4,592,050
-
(5,835)
139,855
4,918,544
67
Consolidated Statements of Cash Flows
20122011
20122011
Cash Flows from Operating Activities
Cash generated from operating activities
779,008 834,395 502,564
Increase in guarantee liability
(485)
-
(520)
-
-
538,296
Acquisition of land
(229)
(4,992) (5,347)
Acquisition of property, plant and equipment
(11,045)
(11,830)
(10,954)
(11,733)
(126,566)
(135,565)
(258,454)
(276,830)
Net income
374,184 400,788 354,623 379,837
Adjustments
312,625 334,853 267,105 286,096
Acquisition of constructuion work in progress
Changes in Working Capital
92,200
98,755
(119,164) (127,637)
Acquisition of other tangible assets
(7,561)
(8,099)
(7,515)
(8,049)
56,857 60,900 44,682 47,859
Acquisition of intangible assets
(9,134)
(9,783)
(3,001)
(3,214)
(9,360)
(10,026)
Interest income received
Interest expense paid
(77,704)
(83,229)
(106,927)
(114,529)
Acquisition of other investment asset
(159)
(170)
Dividends income received
145,908 156,282 161,429 172,907
Cash flow caused by lost in control
(947)
(1,014)
Income taxes paid
(176,060)
(188,578)
(133,817)
(143,331)
Net Cash used in Investment Activities
Net cash provided by operating activities
728,010 779,771
467,932 501,202
-
(808,776)(866,280) (1,650,902)(1,768,281)
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Proceeds from short-term borrowings
-
2,485,528 2,662,249 2,853,152
3,056,011
300,390 321,748 769,069
823,750
Decrease in short-term financial instruments
184,965 198,116 279,466 299,336
Proceeds from long-term borrowings
Decrease in short-term loans
115,573 123,790 156,843 167,995
Disposal of available for sale asset
-
1,189 -
72,888
Repayment of current portions of
-
-
123,108
131,861
long-term liabilities
Disposal in available-for-sale financial assets
-
11,532 13,425 14,379
Proceeds from long-term debenture
Decrease in other quick asset
1,961
2,100 - -
Increase in goverment aid
Decrease in long-term loans
180,778 193,631 522,849 560,024
Increase in other fixed liabilty
Net Cash Inflow from Financing Activities
324,974 348,080
276,050
295,677
166 178
228
244
257
-
-
240 331 355 -
-
-
1,001 -
22
Repayment of short-term borrowings
510 546 2,404 2,575
Repayment of long-term borrowings
Proceeds from government aid
64 69 -
-
Decrease in goverment aid
-
Disposal of investment property
731 783 4,224
4,524
Repayment of long-term debenture
-
(501,334)
Disposal of intangible assets
-
511
-
-
Acquisition of subsidiary's stock
-
(22,952)
-
-
Increase in available-for-sale liability
-
37,117
-
-
Decrease in other fixed liabilty
-
(84)
-
-
1,121,743
Decrease in guarantees liability
Disposal in land
Disposal of property, plant and equipment
Net cash Inflow from Investing Activities
484,913 570,740
979,211 Payment of dividends
Increase in short-term financial instruments
(95,979)
(102,803)
(301,752)
(323,207)
Increase in treasury stock
Increase in short-term loans
(206,448)
(221,126)
(348,437)
(373,211)
Net cash Outflow from financing activities
Acquisition of trading asset
(220)
(236)
Acquisition of investments in subsidiaries
Acquisition in available-for-sale financial assets
Increase in long-term financial instruments
Increase in long-term loans
68
-
-
(698)
(748)
-
-
(50,568)
(54,163)
(28,136) (30,136)
(134)
(144)
(18,723)
(20,054)
(298,839)
(320,086)
(659,358) (706,238)
Net Increase(decrease) in Cash and Cash Equivalents
3,111,299 3,332,512 4,021,6074,307,543
(2,586,182)
(2,770,060)
(3,129,646)
(3,352,164)
(327,332)
(350,605)
(166,395)
(178,226)
-
(17,620)
(18,873)
(17)
(18)
-
(529,554)
(18,409)
-
(515)
(567,205)
(19,718)
-
(3,420,713)(3,663,926) (3,844,485)(4,117,828)
142,673
152,817
41,43344,379
Changes in Cash and Cash Equivalents due (1,080)
(1,157)
3537
to Foreign Currency Translation
Cash and Cash Equivalents, Beginning of the Year
1,237,081
1,325,037
1,195,6131,280,621
Cash and Cash Equivalents, End of the Year
1,378,673
1,476,697 1,237,0811,325,037
69
Affiliates
At Daelim, We are not alone in our commitment to building a better life. In addition to our synergistic partnerships
in the engineering and construction fields with affiliates Korea Development Corp. and Samho International Co., Ltd.
We are proud to be affiliated with a number of quality companies and organizations in trading, manufacturing,
information technology, leisure facility operation, education and cultural fields.
Logistics & Manufacturing
Engineering & Construction
Daelim Industrial Co., Ltd.
(E&C Unit)
Korea Development
Corporation
Samho International
Co., Ltd.
Petrochemical
(Petrochemical Unit)
Yeochun NCC Co., Ltd.
DAELIM Industrial Co., Ltd.
E&C Unit
146-12. Susong-dong, Jongno-gu,
Seoul, Korea
Tel: (82) 2-2011-7114
Fax: (82) 2-2011-8000
PETROCHEMICAL Unit
Korea Chamber of Commerce 10Fl, 45,
Namdaemunno 4ga, Jung-gu, Seoul, Korea
Tel: (82) 2-3708-3000
Fax: (82) 2-753-1181
PolyMirae Co., Ltd.
KOREA DEVELOPMENT CORPORATION
HEAD OFFICE
Hana Plaza Building, Suite 501 1080-4,
Pungdeokcheon-dong, Yongin, Gyeonggi-do,
Korea
Tel: (82) 31-264-9617
Fax: (82) 31-264-9619
ANYANG BRANCH OFFICE
954-2, Gwanyang-2-dong, Dongan-gu,
Anyang, Gyeonggi-do, Korea
Tel: (82) 31-420-9000
Fax: (82) 31-420-9010~1
www.kdc.co.kr
KRCC Co., Ltd.
IT
Daelim Corporation
Daelim C&S Co., Ltd.
Leisure
Education & Culture
Ora Resort Co., Ltd.
Daelim Educational Foundation/
Daelim Contemporary Art
Museum
Daelim Motors Co., Ltd.
Daelim I&S Co., Ltd.
Daelim University
College
SAMHO INTERNATIONAL CO., LTD.
HEAD OFFICE
1143-6, Illyu Building 4th Fl. Guwol-dong,
Namdong-gu, Incheon
Tel: (82) 32-518-3535
Fax: (82) 32-518-4343
DAELIM CORPORATION
Korea Chamber of Commerce 10Fl.
Namdaemunno 4ga, Jung-gu, Seoul, Korea
Tel: (82) 2-3708-3000/3114
Fax: (82) 2-754-7114
www.daelimcorp.co.kr
DAELIM MOTOR CO., LTD.
58, Seongsan-dong, Changwon,
Gyeongsangnam-do, Korea
Tel: (82) 55-239-7000
Fax: (82) 55-239-7522
www.dmc.co.kr
DAELIM EDUCATIONAL FOUNDATION
526-7, Bisan-dong, Dongan-gu, Anyang,
Gyeonggi-do, Korea
Tel: (82) 31-467-4700
Fax: (82) 31-446-8729
www.daelim.ac.kr
SEOUL BRANCH OFFICE
544, Dohwa-dong, Mapo-gu, Seoul, Korea
Tel: (82) 2-2170-5000
Fax: (82) 2-2170-5199
www.samho.co.kr
DAELIM C&S CO., LTD.
Dongwha Building,15th Fl. 58-7,
Seosomun-dong, Jung-gu, Seoul, Korea
Tel: (82) 2-311-3300
Fax: (82) 2-311-3399, 3337
www.daelimcns.co.kr
DAELIM I&S CO., LTD.
KBS Media Center, 19th Fl.1652, Sangamdong, Mapo-gu, Seoul, Korea
Tel: (82) 2-3704-8400
Fax: (82) 2-3704-8491
www.daelimins.com
DAELIM CONTEMPORARY ART MUSEUM
35-1, Tongui-dong, Jongno-gu, Seoul, Korea
Tel: (82) 2-720-0667
Fax: (82) 2-720-0665
www.daelimmuseum.org
ORA RESORT CO., LTD.
263-15, Yeon-dong, Jeju, Korea
Tel: (82) 64-747-5000
Fax: (82) 64-742-3150
www.grand.co.kr
70
71
Organization & Management
Honorary Chairman : Lee Joon-Yong
Vice Chairman & CEO : Kim Yun (Charles Y. Kim), Lee Hae-Wook
Engineering & Construction Unit :
Plant Business Division / Civil Business Division / Building & Housing Business Division /
Corporate Management Division / Development & Invesment Office / Overseas Business
Office / Public Business Office / Technology Research & Development Institute
Petrochemical Unit
Plant Business Division
President
Lee Chul-Kyoon
Park Hong-Chun
Chief Executive of Plant Business
The Middle East Business Support
Executive Vice Presidents
Kim Yun-Sub
Domestic, Overseas Execution
Park Heung-Kyun Plant Cost Estimation
Lee Ki-Bae Plant Project Execution
Han In-Chan Plant Engineering
Kang Yong-Cook Planning, Tender &
Cost Estimation
Senior Vice Presidents
Lee Sang-Taek Saudi JER Site
Choi Dong-Yeob Overseas Execution
Jang Jong-Kee Plant Project Conducting
Choi Ho-Young Overseas Execution
Vice Presidents
Chung Yun-Sik Lee Jung-Sub Kwon Soon-Ryong Kim Ki-Sang Seong Baeg-Yeol
Park Hee-Youl Kang Yeong-Chul Yim Heon-Jae Yoo Jae-Ho Park Young-Jick
Eom Ho-Sik
Seo Sang-Hye Yoon Hyung-kun
Jang Byeong-Sun
Jhee Sung-Hyun
Lee Kyung-Hee
Yi Bong-Jin
Kim Hyung-Keun
Overseas Execution
Saudi YERP-3 Site
Saudi IK EPC Site,
Overseas Business
Construction
Saudi Shoiba II Site
Philippines JG Summit Site
Overseas Execution
Saudi YERP-3 Site
Philippines RMP-2 Site
Tender, Cost Estimation
Kwait LPG Train-4 Site
Overseas Execution
Saudi Shoaiba II Site
Saudi Elastomers Site
Power Plant Engineering
Basic Concept Design
Planning
Vice Presidents
Yi Taek-Hee Cho Gyu-Yeung Kim Yon-Kee Kim Jong-Myung
Kang Jae-Ho
Kim Joo-Dong
Domestic Business
Domestic Business
Overseas Civil Business
Execution, Civil Safety & Quality
Planning, Cost Innovation
Domestic Business
Building & Housing Business Division
Senior Executive Vice President
Kim Ho Chief Executive of Building &
Housing Business
Cho Hyuk Business Support
Choo Moon-Suk Building & Housing Project Execution
Development & Investment Office
Kim Sang-Woo Chief Executive of
Development & Investment
Vice Presidents
Yoon Key-Hyun Building Project Management,
Customer Relationship
Management
Moon Jung-Dong
Public Architectural Business
Jang Se-Woong
Housing Project Management
Lee In-Hong Technology, Green
Lee Young-Sun
Building & Housing
Business Strategy
Lee Kee-Wook
Private Architectural Business
Overseas Business Office
Corporate Management Division
President
Oh Gyu-Seok
Chief Executive of Corporate
Management
Vice Presidents
Yeh Kyoung-Nam
President
Lee Chul-Kyoon IPP Business Development
Chief Executive of Overseas Business
Chung Ha-Chang
Overseas Power &
Industrial Business
Vice Presidents
Hong Sung-Duk Overseas Plant Business
Chae Dong-Won Overseas Plant Business
Chang Tack-Soon Overseas Plant Business Planning,
Overseas Power & Industrial Business
Han Kee-Hyun Overseas Civil Business
Lee Kee-Yong Overseas Civil Business
Public Business Office
Executive Vice President
Beak Un-Il
Yoo Hwan-Yong Corporate Subcontrats &
Procurement
Kim Young-Bok IT Planning, Plant BPI
Son Han-Jib Finance Strategy
Lee Phil-Keun Coporate Planning
Suk Jae-Duk Civil Safety & Quality
Kang Kyung-Il Execution
Yoon Tae-Seob Overseas Civil Business
Park Seong-Yoon Domestic Business, SOC Business
Park Hee-Tai Human Resources Development
Jung Il-Hyun Auditing & Legal Affairs
Park Kwang-Jin Marketing Strategy, Coporate
Planning
Chief Executive of Civil Business
Vice Presidents
Choi Sam-Sup Corporate Planning
Lee Jong-Il
Subcontracts & Procurement
Chang Sang-Wook Domestic Subcontracts, Procurement
Hong Beom-Lack
Marketing Strategy, Coporate
Innovation
Kim Yang-Sub Architectural Electricity,
HVAC & Plumbing
Kim Seung-Min
Cost Innovation
Seo Hong Building & Housing
Business Strategy
Civil Business Division
President
Kim Dong-Su
Bae Seon-Yong Corporate Communications,
Safety & Environment,
Quality Management
Kim Young-Hwan Finance Planning, Treasury,
Finance Management
Han Soon-Shik Overseas Subcontracts,
Plant Procurement Management,
Inspection
Park Young-Do Chief Executive Public
Business Office
Vice Presidents
Kim Kyoung-jun
Public Business
Technology Research & Development Institute
Vice Presidents
Park Hyung-Seop Chief Executive of Technology
Research & Development
Vice Presidents
Joo In-Sic
Hwang Tae-Su
Factory Manager
Corporate Management
Petrochemical Unit
President & CEO
Park Chan-Jo President & CEO
Senior Executive Vice Presidents
Kim Kil-Su Manufacturing
Lee Kyu-Jung Technology
72
Kim Hyung-Geun HR Planning, HR Management,
HR development
Yoo Jae-Kwan Flim Business
Park Ki-Soon
Chief Executive of Technology
Kim Man-Joong Manufacturing, Technology
Organization & Management
Honorary Chairman : Lee Joon-Yong
Vice Chairman & CEO : Kim Yun (Charles Y. Kim), Lee Hae-Wook
1
Engineering & Construction Unit :
Plant Business Division / Civil Business Division / Building & Housing Business Division /
Corporate Management Division / Development & Invesment Office / Overseas Business
Office / Public Business Office / Technology Research & Development Institute
Petrochemical Unit
KUWAIT
Kuwait Office
Egaila Block3, Street No.334,
House No.24, Kuwait
Tel: (965) 2294-2835
Fax: (965) 2294-2828
Plant Business Division
President
Lee Chul-Kyoon
Park Hong-Chun
Chief Executive of Plant Business
The Middle East Business Support
Kim Yun-Sub
Domestic, Overseas Execution
Park Heung-Kyun Plant Cost Estimation
Lee Ki-Bae Plant Project Execution
Han In-Chan Plant Engineering
Kang Yong-Cook Planning, Tender &
Cost Estimation
Lee Sang-Taek Saudi JER Site
Choi Dong-Yeob Overseas Execution
Jang Jong-Kee Plant Project Conducting
Choi Ho-Young Overseas Execution
Vice Presidents
Chung Yun-Sik Lee Jung-Sub Kwon Soon-Ryong Kim Ki-Sang Seong Baeg-Yeol
Park Hee-Youl Kang Yeong-Chul Yim Heon-Jae Yoo Jae-Ho Park Young-Jick
Eom Ho-Sik
Seo Sang-Hye Yoon Hyung-kun
Jang Byeong-Sun
Jhee Sung-Hyun
Lee Kyung-Hee
Yi Bong-Jin
Kim Hyung-Keun
Overseas Execution
Saudi YERP-3 Site
Saudi IK EPC Site,
Overseas Business
Construction
Saudi Shoiba II Site
Philippines JG Summit Site
Overseas Execution
Saudi YERP-3 Site
Philippines RMP-2 Site
Kwait LPG Train-4 Site
Overseas Execution
Saudi Shoaiba II Site
Saudi Elastomers Site
Power Plant Engineering
Basic Concept Design
Planning
Vice Presidents
Yi Taek-Hee Cho Gyu-Yeung Kim Yon-Kee Kim Jong-Myung
Kang Jae-Ho
Kim Joo-Dong
Domestic Business
Domestic Business
Execution, Civil Safety & Quality
Planning, Cost Innovation
Domestic Business
Senior Executive Vice President
Kim Ho Chief Executive of Building &
Housing Business
Cho Hyuk Business Support
Choo Moon-Suk Building & Housing Project Execution
Vice Presidents
Choi Sam-Sup Corporate Planning
Lee Jong-Il
Subcontracts & Procurement
Chang Sang-Wook Domestic Subcontracts, Procurement
Hong Beom-Lack
Marketing Strategy, Coporate
Innovation
Development & Investment Office
Kim Yang-Sub Architectural Electricity,
HVAC & Plumbing
Kim Seung-Min
Cost Innovation
Seo Hong Building & Housing
Business Strategy
Kim Sang-Woo Chief Executive of
Development & Investment
Vice Presidents
Yoon Key-Hyun Building Project Management,
Customer Relationship
Management
Moon Jung-Dong
Public Architectural Business
Jang Se-Woong
Housing Project Management
Lee In-Hong Technology, Green
Lee Young-Sun
Building & Housing
Business Strategy
Lee Kee-Wook
Private Architectural Business
Overseas Business Office
Corporate Management Division
President
Oh Gyu-Seok
Chief Executive of Corporate
Management
Vice Presidents
Yeh Kyoung-Nam
President
Lee Chul-Kyoon 1
IPP Business Development
Chief Executive of Overseas Business
Chung Ha-Chang
Overseas Power &
Industrial Business
Vice Presidents
Hong Sung-Duk Overseas Plant Business
Chae Dong-Won Overseas Plant Business
Chang Tack-Soon Overseas Plant Business Planning,
Overseas Power & Industrial Business
Han Kee-Hyun Overseas Civil Business
Lee Kee-Yong Overseas Civil Business
IRAN
Tehran Office
4
KUWAIT
Kuwait Office
3
2
Executive Vice President
Beak Un-Il
SAUDI ARABIA
Daelim-Dar Co., Ltd
Daelim Saudi Arabia Co., Ltd.
Suk Jae-Duk Civil Safety & Quality
Kang Kyung-Il Execution
Yoon Tae-Seob Overseas Civil Business
Park Seong-Yoon Domestic Business, SOC Business
Park Hee-Tai Human Resources Development
Jung Il-Hyun Auditing & Legal Affairs
Park Kwang-Jin Marketing Strategy, Coporate
Planning
Public Business
President & CEO
Senior Executive Vice Presidents
Kim Kil-Su Manufacturing
Lee Kyu-Jung Technology
Kim Hyung-Geun HR Planning, HR Management,
HR development
Yoo Jae-Kwan Flim Business
Park Ki-Soon
Kim Man-Joong Manufacturing, Technology
Vice Presidents
Joo In-Sic
Hwang Tae-Su
Factory Manager
Corporate Management
Copyright © 2012 by Daelim Industrial Co., Ltd. Designed by Studio Hey Joe
72
7
PHILIPPINES
Daelim
Philippines Inc.
Daelim Saudi Arabia Co., Ltd.
Al-Raja Tower (1st Floor), King
Abdulaziz Road, Al-Khobar, P.O.
Box 2346, Dammam 31541,
Saudi Arabia
Tel: (966) 3-887-9303 (Ext.124)
Fax: (966) 3-887-8909
INDONESIA
PT.Daelim Utama
Construction
CHINA
DALIN(Nanjing) Construction
Project Management Co.,Ltd.
A Room, 12F, Chang Fa Shu Ma
Building, NO.188, The North of
HongWu Road, Xuanwu District,
Nanjing 210008, China
Tel: (86) 25-8453-0090
Fax: (86) 25-8453-0096
3
6
U.A.E.
Abu Dhabi Office
P. O. Box 53587, Office No. 1002,
Silver Wave Tower, Mina Road,
Abu Dhabi, U.A.E.
Tel: (971) 2-679-7377
Fax: (971) 2-679-9092
VIETNAM
Hanoi Office
Unit No. 1911, 19th Fl.,
Keangnam Hanoi Landmark
Tower, 72 Building, Plot E6 Pham
Hung Str. Cau Giay New Urban
Area, Me Tri Commune, Tu Liem
District, Hanoi, Vietnam
Tel: (84) 4-3837-8330
Fax: (84) 4-3837-8329
4
8
5
IRAN
Tehran Office
No. 93, West Nahid Street,
Opposite of Mellat Park,
Valiasr Avenue, Tehran, Iran
Tel: (98) 21-2202-5182, 5192
(98) 21-2201-3504
(Direct: 112)
Fax: (98) 21-2205-8290
(98) 21-2202-5120
7
PHILIPPINES
Daelim Philippines Inc.
Unit No.902, One Corporate
Centre, Dona Julia Vargas
Avenue Corner Meralco Avenue,
Ortigas Center, Pasig City,
Philippines 1605
Tel: (63) 2-584-7010,7011
Fax: (63) 2-655-7750
8
Petrochemical Unit
President & CEO
Park Chan-Jo Vietnam
Hanoi Office
10
Technology Research & Development Institute
Vice Presidents
Park Hyung-Seop 6
CHINA
DALIN(Nanjing) Construction
Project Management Co.,Ltd.
MALAYSIA
Daelim
(Malaysia)
Sdn. Bhd
Park Young-Do Chief Executive Public
Business Office
Vice Presidents
Kim Kyoung-jun
5
U.A.E.
Abu Dhabi Office
Public Business Office
Yoo Hwan-Yong Corporate Subcontrats &
Procurement
Kim Young-Bok IT Planning, Plant BPI
Son Han-Jib Finance Strategy
Lee Phil-Keun Coporate Planning
Chief Executive of Civil Business
SAUDI ARABIA
Daelim-Dar Co., Ltd
Al-Khereji B/D 6th Floor., King
Faisal Bin Abdulaziz Road, PO
Box 20753, Al-Khobar 31952,
Saudi Arabia
Tel: (966) 3-849-3850
Fax: (966) 3-849-3821
Building & Housing Business Division
Civil Business Division
President
Kim Dong-Su
2
Bae Seon-Yong Corporate Communications,
Safety & Environment,
Quality Management
Kim Young-Hwan Finance Planning, Treasury,
Finance Management
Han Soon-Shik Overseas Subcontracts,
Plant Procurement Management,
Inspection
INDONESIA
PT.Daelim Utama Construction
Korea Center Building, 4th
Floor, JL. Gatot Subroto Kav. 58,
Jakarta Selatan 12950, Indonesia
Tel: (62) 21-5296-1060
Fax: (62) 21-5296-1065
9
U.S.A
Houston Office
Daelim USA Inc.
9
U.S.A
Houston Office
14701 St. Mary's Lane Suite
#335 Houston, Texas 77079
Tel: (1) 281-558-4700
Fax: (1) 281-558-4701
U.S.A
Daelim USA Inc.
2711 Centerville Road, Suite
400, in the City of Wilmington,
County of New Castle,
ZIP code 19808
Tel: (1) 281-558-4700
Fax: (1) 281-558-4701
10
MALAYSIA
Daelim (Malaysia) Sdn. Bhd
22nd Floor, UBN Tower
( Letter Box No. 51)
No. 10, Jalan P. Ramlee
50250 Kuala Lumpur, Malaysia
Tel: (60) 3-2022-1911
Fax: (60) 3-2022-2877
Daelim Bldg., 36, Jong-ro 1-gil,
Jongno-gu, Seoul, Korea
T: 82-2-2011-7114 / F: 82-2-2011-8000
www.daelim.co.kr
Petrochemical Unit
11F Korea Chamber of Commerce, 39,
Sejong-daero, Jung-gu, Seoul, Korea
T: 82-2-3708-3000 / F: 82-2-753-1181
www.daelimchem.co.kr

7000426 9572727

Transcription

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