SSANGYONG INFORMATION & COMMUICATIONS CORP.

SSANGYONG INFORMATION & COMMUICATIONS CORP.

Previous company name
Ssangyong Information Communications Corporation
Name change date
7/1995
Company Overview
SsangYong Information & Communications Corp. (SICC), headquartered in Seoul, is a global IT business partner and the leader of digital convergence. The company is a provider of comprehensive solutions in the fields of systems and network integration. The company was established in July 1981 as Woshin Information Industry Inc., which specialized in systems integration.
SsangYong Information & Communications Corp. offers a full range of systems and network integration in the fields of television broadcasting, telecommunications, national defense, sports, and public information. The company’s broadcast-communication solution includes construction of the next-generation multimedia broadcast system combined with accumulated network and Internet technology. SICC’s telecom SI focuses on the infra-construction of the national basic network, KT Komet ultra-speed information communication, construction of operation support system, and construction of customer information system. SICC offers key solutions needed for the Army/Navy/Air Force oversized projects, including localization of major technology by research study and joint development. SICC provides specialized IT service enterprise in national sports such as the 2002 World Cup and 2002 Busan Asian Games. SICC’s public SI contributes to the advancement of National Information based on information-oriented Nation proceeding policy of the public organization.
SsangYong Information & Communications Corp. aims to become the IT partner of customers by creating values in the areas of IP communication, IP media, IT infra, SOC, and ubiquitous IT service. The company’s sales target is to achieve one billion dollars by the year 2015.
SsangYong Information & Communications Corp. has a warehouse in An-Yang, Korea and a network of regional branch offices in Busan, Dae-gu, and Daejeon. The company’s client base includes Korea Highway Corporation, SBS, TBS, Defense Agency for Public Information Services, Korean Air Force, Korean Navy, Ministry of Information and Communication, Ministry of Government Administration and Home Affairs, and Korea Industrial Complex Corporation.
SsangYong Information & Communications Corp. is listed on KOSDAQ under the ticker symbol <010280>.
Business Summary
Overall sales decreased with fierce competition among vendors while orders are concentrated to large enterprise subsidiaries or market leaders. Net loss was posted with currency exchange loss while operating loss was posted with rising cost and expenses due to fierce competition. Burden for short-term repayment is limited with solid liquidity ratio though financial stability degraded with rising debt ratio. Sales will increase as SOC investment will increase and U-city and other new markets will become active while key projects are scheduled for the latter half. Improvement of performance will be limited to some extent as orders are concentrated on large vendors while low margin orders are often received due to fierce competition among vendors. Efforts are required to enhance turnover as operating cash flow remains in negative state with sharply increased inventory assets despite efforts made to collect trade receivables.
Description and history


Established as Woshin Information Industry Inc., which specialized in systems integration

Business Line
Provider of comprehensive solutions in the fields of systems and network integration
Subsidiary
SSANGYONG CEMENT INDUSTRIAL CO.,LTD.
Advisor
The Korea Development Bank
IPO date
4/14/2000
US SIC Code
4899
Company Address
12TH FL.,SSANGYONG BLDG., 24-1,JEO-DONG 2-GA
JUNG-GU, SEOUL 100-748
City province or state postal code

Phone:
Fax: +82-2-2277-2385
Country address: KOREA REPUBLIC OF
Website url: www.sicc.co.kr