YOUNG IL VIETNAM CO.,LTD

YOUNG IL VIETNAM CO., LTD (CÔNG TY TNHH YOUNG IL VIỆT NAM) is a South Korean-invested manufacturer specializing in leather processing, with more than a decade of experience serving global supply chains. Registered as a one-member limited liability company under Tax Code: 3901164390, the company is fully owned by YOUNG IL LEATHER CO., LTD of Busan, South Korea. Its head office is located at Lot A6 1-4, Road N5, Thanh Thanh Cong Industrial Park, An Hoa Ward, Trang Bang Town, Tay Ninh Province, Vietnam.

Founded in April 2013, YOUNG IL VIETNAM CO., LTD is a significant employer in the region with 1,300 staff and serves as a major processing center for semi-finished leather. The company is helmed by Mr. Yoon H. C., the South Korean General Director, supported by Mr. Kim I. S. as Deputy General Director and Ms. Vo T. T. H., a Vietnamese national, as Chief Accountant.

In terms of financial performance, 2024 was a challenging year. Although the company maintained total assets of USD 97.88 million and equity of USD 36.73 million, both declined slightly year-on-year. Most notably, sales fell sharply to USD 128.59 million, a 15.12% drop, and net profit plummeted to just USD 230,901, down 94.51% from 2023. This steep decline in profit, despite a relatively stable asset base, indicates significant margin pressure—potentially due to reduced global demand, input cost fluctuations, or pricing constraints.

While working capital remained positive at USD 11.06 million, offering some short-term liquidity cushion, the erosion of profitability and equity over two consecutive years raises concerns about long-term sustainability. If the current trend continues, reinvestment capacity, debt servicing ability, and shareholder value could come under strain.

Despite these risks, YOUNG IL VIETNAM CO., LTD remains a strategically important manufacturer in Vietnam's leather supply chain. With operational experience, stable ownership, and high-capacity infrastructure, the company retains potential for recovery. Strategic cost optimization and renewed market expansion will be key for YOUNG IL VIETNAM CO., LTD to restore its financial strength and long-term competitiveness.