MIRA
INFORM REPORT
|
Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOREA AGRO-FISHERIES TRADE CORPORATION |
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Registered Office : |
232, Yangjae-dong, Seocho-gu, Seoul AT Center 137-130 |
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Country : |
Korea (South) |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.16.1980 |
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Com. Reg. No.: |
106-82-00944 |
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Legal Form : |
Corporation established by the Government |
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Line of Business : |
Agricultural and Fishery Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Basic
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Company Name |
KOREA AGRO-FISHERIES TRADE CORPORATION |
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Registered Address |
232, Yangjae-dong, Seocho-gu, Seoul, Korea
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|
Building |
AT Center |
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Zip Code |
137-130 |
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Tel |
+82-2-6300-1114 |
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Fax |
+82-2-6300-1608 |
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E-mail |
outreach@kati.net; yihjoo@kati.net |
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Website |
www.at.or.kr |
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Trading Address |
AT Center, 232, Yangjae-dong, Seocho-gu,
Seoul, Korea (P.O.BOX 3212) |
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Tel |
+82-2-6300-1114 |
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Fax |
+82-2-6300-1608 |
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Other Address-Agricultural Marketing Training Institute |
148-1, Dangsu-dong, Kweunsun-gu, Suwon, Gyeonggi, Korea |
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Tel |
+82-31-4003512 |
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Other Address-Gyeonggi Branch |
13-6, Noryangjin-dong, Dongjak-gu, Seoul, Korea |
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Tel |
+82-2-813-9340 |
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Other Address-Incheon Branch |
7-241, Shinheung-dong, Joong-gu, Incheon, Korea |
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Tel |
+82-32-888-6161 |
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Other Address-Gangwon Branch |
370-7 Okcheon-dong, Gangrung, Gangwon-do, Korea |
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Tel |
+82-33-647-0061 |
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Other Address-Chungnam Branch |
942, Dunsan-dong, So-gu, Daejeon, Korea |
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Tel |
+82-42-488-8542 |
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Other Address-Chungbuk Branch |
211-5, Songjeong-dong, Heungdeok-gu, Cheongju-si, Chungcheongbuk-do,
Korea |
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Tel |
+82-43-273-4556 |
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Fax |
+82-43-266-2458 |
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Other Address-Jeonnam Branch |
1607-1, Woosan-dong, Gwangsan-gu, Gwangju, Korea |
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Tel |
+82-62-944-2621 |
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Other Address-Jeonbuk Branch |
249-10, Palbok-dong, Deokjin-gu, Cheonju, Jeonbuk, Korea |
|
Tel |
+82-63-211-6178 |
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Other Address-Gyungbuk Branch |
126-4, Shincheon-dong, Dong-gu, Daegu, Korea |
|
Tel |
+82-63-741-5220 |
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Other Address-Gyungnam Branch |
815, Munhyun-dong, Nam-gu, Busan, Korea |
|
Tel |
+82-51-632-1282 |
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Fax |
|
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Other Address-Jeju Branch |
977-1, Nohyong-dong, Jeju, Korea |
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Tel |
+82-64-746-9472 |
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Type |
Export/Import |
|
Industry |
Administration of Agricultural, Forestry, Fishing and Hunting Affairs |
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Main Business |
Agricultural & Fishery Products |
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Established (mm/dd/yyyy) |
01/16/1980 |
The Subject owns the premises(Land &
Building) of the registered address, and its book value is 19,451,000,000KRW
and the appraisal value is 595,527,000,000 KRW.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Public administration(93151500) -Public Administration Services Agricultural and fishery products
price stabilization support services |
|
Sell |
Trade shows and exhibits(80141900) |
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Sell |
Aid financing(84101600) |
|
Sell |
National food intervention policy or programs(85151704) |
|
Sell |
Commodity policy or projections services(80151501) |
|
Sell |
Distribution(80141700) |
|
Sell |
Development assistance(84101500) |
|
Sell |
Commercial sector manpower development(86101804) |
|
Sell |
World wide web WWW site operation host services(81112105) |
CEO’s
|
Name |
Yoon Jang-Bae |
|
Address |
1151-5, Sanbon-dong, Gunpo-si, Gyeonggi-do, Korea |
|
Date of Birth |
11/22/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
66,200,000,000 KRW |
|
Employees |
580 |
|
Formation |
Corporation established by the government |
|
Bank Details |
The National Agricultural Co-Operative Federation (Nonghyup Bank)-aT Center Branch Korea Exchange Bank |
|
Corporate Registered No. |
114271-0001826 |
|
Business Registered No. |
106-82-00944 |
|
Permit & Licenses |
Int’l Trade No.: 871002 |
|
Shareholder Position |
The Ministry of Finance & Economy(The
Republic of Korea) has 100% shares. |
|
Company History |
11/30/1967:Founded as Agriculture &
Fishery Development Corporation (AFDC) according to the “Law of Agriculture
& Fishery Development Corporation” 08/1978:Implemented Price Stabilization Program
01/16/1980: Incorporated as the present
name 03/1984:Initiated Marketing Promotion
Program 04/1985:Established Training Institute for
Agricultural Marketing 12/31/1986:Reborn as Agricultural and
Fishery Marketing Corporation (AFMC) for the Settlement of Marketing &
Promotional Functions 06/1991:Opened Flower Marketing Center 01/1992:Expanded Export Promotion Program 10/2002:Opened Agro-Trade & Exhibition
Center, Seoul and moved to the present address 05/2005:Company name changed to Korea
Agro-Fisheries Trade Corporation(aT) |
|
|
|
aT(Korea Agro-Fisheries Trade Corp.) is a
wholly government-invested enterprise responsible for agricultural marketing
services and international trade.
aT provides publicly-profitable support
services in agricultural marketing sector. The Subject has performed its own
export sales as well as undertaking export agent functions for a large number
of small and medium size agro-processors.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Yoon Jang-Bae |
Male |
Korean |
11/05/2007 |
|
Director |
Mr. |
Im Ho |
Male |
Korean |
03/16/2005 |
|
Director |
Mr. |
Park Woo-Sun |
Male |
Korean |
03/16/2005 |
|
Director |
Mr. |
Kim Duck-Soon |
Male |
Korean |
08/02/2005 |
|
Director |
Mr. |
Moon Tae-Ryong |
Male |
Korean |
12/15/2005 |
|
Director |
Mr. |
Woo Jeong-Kyu |
Male |
Korean |
05/19/2006 |
|
Director |
Mr. |
Ahn Hyo- Seung |
Male |
Korean |
06/18/2007 |
|
Director |
Mr. |
Jung Woon-Cheon |
Male |
Korean |
06/26/2007 |
|
Director |
Mr. |
Kim Yang-Ha |
Male |
Korean |
01/01/2008 |
|
Auditor |
Mr. |
Park Soon-Kyung |
Male |
Korean |
12/18/2007 |
Financials Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2007 |
239,421,402,739 |
865,089,245,149 |
5,612,702,268 |
|
2006 |
139,257,975,630 |
893,802,764,371 |
4,963,820,829 |
|
2005 |
230,179,988,391 |
845,018,486,995 |
2,040,501,551 |
|
2004 |
200,182,813,925 |
875,117,428,640 |
2,023,936,612 |
Financial
Description Unit: KRW
|
Authorized
Capital |
200,000,000,000 |
|
Paid-Up
Capital |
66,200,000,000 |
|
Total Issues Shares |
13,240,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
865,089,245,149 |
893,802,764,371 |
845,018,486,995 |
|
Current Assets |
625,728,370,257 |
627,641,355,887 |
529,982,076,991 |
|
-Quick Assets |
625,667,843,537 |
627,545,293,073 |
529,948,734,941 |
|
-Inventories |
60,526,720 |
96,062,814 |
33,342,050 |
|
Fixed Assets |
239,360,874,892 |
266,161,408,484 |
315,036,410,004 |
|
-Investment |
148,528,370,008 |
173,649,251,840 |
220,796,192,311 |
|
-Tangibles |
90,832,504,884 |
92,512,156,644 |
94,240,217,693 |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
745,316,022,562 |
778,649,244,052 |
734,431,597,505 |
|
Current Liabilities |
598,815,194,261 |
607,652,449,096 |
539,501,361,617 |
|
Fixed Liabilities |
146,500,828,301 |
170,996,794,956 |
194,930,235,888 |
|
Capital Stock |
66,200,000,000 |
66,200,000,000 |
66,200,000,000 |
|
Capital Surplus |
168,490,176 |
168,490,176 |
168,490,176 |
|
Profit Surplus |
53,404,732,411 |
48,785,030,143 |
44,218,409,314 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
119,773,222,587 |
115,153,520,319 |
110,586,899,490 |
|
Liab. & Shareholder’s Equity |
865,089,245,149 |
893,802,764,371 |
845,018,496,995 |
|
Current
Liabilities |
598,815,194,261 |
607,652,449,096 |
539,501,361,617 |
|
Short-Term Borrowings |
540,435,700,000 |
532,330,554,790 |
467,514,394,000 |
|
Account Payables |
18,039,934,574 |
14,946,596,177 |
19,969,252,777 |
|
Advance Receipts |
1,474,931,192 |
1,317,520,529 |
1,124,161,724 |
|
Withholdings |
2,509,625,498 |
1,915,533,440 |
1,660,878,073 |
|
Accrued Expenses |
3,822,634,609 |
4,409,803,713 |
4,791,691,125 |
|
Accrued Income Tax |
1,476,838,042 |
1,940,578,482 |
174,443,046 |
|
Unearned Income |
11,100,004 |
15,345,465 |
- |
|
Current Portion of Long-Term Debts |
29,339,527,000 |
48,909,335,560 |
42,496,004,000 |
|
Others |
1,704,903,342 |
1,867,180,940 |
1,770,536,872 |
|
Fixed
Liabilities |
146,500,828,301 |
170,996,794,956 |
194,930,235,888 |
|
Long-Term Borrowings |
130,588,556,000 |
148,772,757,390 |
173,248,085,500 |
|
Provision for Severance & Retirement |
16,330,844,332 |
15,203,712,202 |
13,753,345,849 |
|
Leasehold Deposit Received |
15,912,272,301 |
16,164,496,479 |
16,181,131,881 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
239,421,402,739 |
139,257,975,630 |
230,179,988,391
|
|
Cost of Sold Goods |
226,126,188,244 |
125,371,403,876 |
218,574,199,053 |
|
Gross Profit |
13,295,214,495 |
13,886,571,754 |
11,605,789,338 |
|
Selling & Admin. Expenses |
9,886,861,481 |
10,774,519,467 |
10,680,035,243 |
|
Operating Income |
3,408,353,014 |
3,112,052,287 |
925,754,095 |
|
Non-Operating Income |
5,896,540,035 |
4,987,117,377 |
3,848,486,730 |
|
Non-Operating expenses |
1,159,460,225 |
888,483,862 |
1,560,642,001 |
|
Ordinary Income |
8,145,432,824 |
7,210,685,802 |
3,213,598,824 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
8,145,432,824 |
7,210,685,802 |
3,213,598,824 |
|
Income Taxes Expenses |
2,532,730,556 |
2,246,864,973 |
1,173,097,273 |
|
Net Income |
5,612,702,268 |
4,963,820,829 |
2,040,501,551 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
4,574,401,011 |
16,038,735,922 |
(-)4,877,767,089 |
|
-Net Income |
5,612,702,268 |
4,963,820,829 |
2,040,501,551 |
|
-Exp. without Cash Outflow |
8,237,669,408 |
9,205,859,804 |
9,818,124,807 |
|
-Revenue
without Cash Inflows |
(-)199,840,365 |
(-)112,594,158 |
(-)23,230,953 |
|
-Changes in
Asset/ & Liability |
-9,076,130,300 |
1,981,649,447 |
(-)16,713,162,494 |
|
Cash Flows
from Investing |
22,295,792,186 |
(-)25,060,799,667 |
48,565,933,045 |
|
-Cash Inflow
from Investing |
622,547,156,492 |
633,183,225,701 |
591,610,613,667 |
|
-Cash
Outflows for Investing |
(-)600,251,364,306 |
(-)658,244,025,368 |
(-)543,044,680,622 |
|
Cash Flows
from Financing |
-30,894,088,918 |
46,340,328,838 |
(29,368,770,266 |
|
-Cash
Inflows from Financing |
560,925,869,574 |
557,070,653,223 |
559,919,171,914 |
|
-Cash
Outflows from Financing |
(-)591,819,958,492 |
(-)510,730,324,385 |
(-)589,287,942,180 |
|
Increase/Decrease
in Cash |
-4,023,895,721 |
37,318,265,093 |
14,319,395,690 |
|
Cash at the Beginning of Year |
71,191,485,249 |
33,873,220,156 |
19,553,824,466 |
|
Cash at the End of Year |
67,167,589,528 |
71,191,485,249 |
33,873,220,156 |
Products, Technologies, Services
Description
-Price Stabilization
Financial Support
Method : Provision of raw material
procurement loans
Beneficiaries : Companies in the private
agro-processing industry who purchase, store, and
process designated items
Direct Procurement
Items : Red pepper, garlic, onion, seaweed,
anchovies, and other staples
Method : Disbursement of the agricultural
product price stabilization fund during peak harvest seasons
Storage
Facilities : 20 aT warehouses located in
Seoul, Busan, Daegu, Gwangju, Jeonju, Incheon, Daejon, and I-Cheon
Capacity : 60,000 M/T per shift
Release
Methods : Auction, direct sale, and wholesale
market distribution
Period : When prices are rising in the off
season
Beneficiaries : Wholesalers, retailers, and
bulk consumers
Import
Items : Products with poor harvests or weak
domestic production bases (e.g., sesame seed, red bean, soybean) and MMA/CMA
imports such as red pepper, garlic, and onion
Period : Year-round, according to each item's
domestic market situation
-Foreign Trade Promotion
Operation of Overseas Agri-Trade Center
Locations : Japan (Tokyo, Osaka), Netherlands
(Rotterdam), U.S.A. (New York, LA), Russia (Moscow), Singapore, and China
(Beijing, Shanghai)
Roles : Collection of agricultural &
fishery trade information, promotion of sales, and public relations development
in overseas markets
Methods : Participating in major
international exhibitions, improving packaging design, operating Korean
traditional food exhibitions and temporary overseas exhibitions, advertising in
popular foreign food magazines, and
installing export public relation towers in important partner trading countries
Effects : Developing overseas markets and
improving the image of Korean agricultural & fishery products
Development of Marketable Item
Method : Testing Korean foods in overseas
markets and modifying their taste and quality to meet consumer preferences
Items : Competitive export products such as
fruits (apples, pears), vegetables (egg plants, cucumbers), flowers (lilies,
roses), and processed foods (kimchi, ginseng-chicken soup)
Collection & Dissemination of Trade
Information
Data collected : Domestic and overseas
production levels, prices, and import/export market situations for each
prospective foreign trade item
Publishing Methods : Korea Agricultural Trade
Information (KATI) network
Korea Agriculture and Food Monthly Magazine
Operation of Agro-Trade & Exhibition
Center
Location : Yang Jae-dong (Seoul)
Function : Promotion of foreign trade in the
agro-fishery industry
Launch Year : 2001
Major Facilities : Exhibition halls,
Conference rooms, Agro-Trade information center, Agro-Trade office building,
Export Publicity Pavilion
-Marketing Support
Wholesale Market Guidance & Support
Financial Assistance : Wholesale market
construction loans, advanced payment loans, and shipping promotion loans
Market Support : Farm products collection and
distribution activities (in respect of fair trading practices)
Auctioneer Management : Education and
qualifying examinations for auctioneers
Personnel Training
Training Organization : Agricultural
Marketing Training Institute (Est. 1985)
Trainees : Government officials, auctioneers,
jobbers, and marketing personnel in the field of production
Collection & Dissemination of market
Information
Scope of Enumeration: Cultivation areas, crop
situations, supply levels, and shipping trends of 20 major agricultural and fishery
products
Distribution channels and wholesale/retail
prices of 70 selected items
Standardization of Physical Distribution
Standardized Practices : Transportation,
storage, loading, unloading, packaging, and marketing
Flower Marketing Center
Location : Yang Jae-dong (Seoul)
Functions : Providing flower marketing loans
and price information, holding flower fairs and exhibitions, ensuring the fair
trade of flowers by competitive auction and improvement of the marketing
system, and providing an export base for prospective items such as lilies and
roses
Main Facilities : Auction hall, jobber shops,
cut flower sales space, green houses, and ornamental gardens
-Food Industry Support
Supporting Food Processing Companies in Rural
Industrial Complex
Selection of Qualified Firms : Based on
business feasibility of food processing companies who apply to set up plants in
rural industrial complexes
Supporting Methods : Provision of facility
investment loans, business management and technology information services, and
sales promotion
Development of Food processing Companies in
Production Areas
Selection of Qualified Firms : Based on
business feasibility of applicants
Supporting Methods : Provision of financial
support, managerial guidance, sales promotion, personnel training, information
services, and operation of consultation councils
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
|
|
Overseas Office |
Korea Agro-Trade Center, ROTTERDAM VARESEWEG 1, 3047 AT ROTTERDAM, THE
NETHERLANDS TEL : 001-31-10-415-1091 KOREA AGRO-TRADE CENTER, NEW YORK 107 NORTHERN BLVD. SUITE 405 GREAT NECK, NY
11021, USA TEL : 001-1-516-829-1633 KOREA AGRO-TRADE CENTER, SINGAPORE 101 CECIL ST., #22-10,11,12 TONG ENG B/D
SINGAPORE 069533 TEL : 001-65-324-0402 KOREA AGRO-TRADE CENTER, BEIJING BEIJING SILVER TOWER ROOM 1506, #2, NORTH
DONGSANHUAN RD, BEIJING, 100027, CHINA TEL : 001-86-10-6410-6120 KOREA AGRO-TRADE CENTER, SHANGHAI ROOM 3112, NEW TOWN CENTER NO.83, #2, LOU
SHAN GUAN RD., CHANGNING DISTRICT, SHANGHAI, 200336, CHINA TEL :
86-21-6236-8341-2 KOREA AGRO-TRADE CENTER, TOKYO 5F, DAVINCI SHINJUKU GYOEN, 1-5-1,
SHINJUKU, SHINJUKU-KU, TOKYO, 160-0022, JAPAN TEL : 001-81-3-5367-6656 KOREA AGRO-TRADE CENTER, OSAKA 6F, NOMURA FUDOUSAN OSAKA BLDG. 1-8-15,
AZUCHIMACHI, CHUOU-KU, OSAKA, JAPAN TEL : 001-81-6-6260-7661 KOREA AGRO-TRADE CENTER, L.A. HUNTINGTON PLAZA, 5762 BOLSA AVE. #101
HUNTINGTON BEACH CA 92649, USA TEL : 001-1-714-901-7717 KOREA AGRO-TRADE CENTER, MOSCOW KRASNOPRESNENSKAYA NAB., 12, ENT.B, #1002,
MOSCOW, RUSSIA, 123610 TEL : 7-095-258-1397 |
|
Cooperative Enterprise-Insured Company |
SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD.(110111-0005078) |
Sales by
Region (Activity &
Markets)
The Subject deals with the companies in China, Taiwan, France, Hong
Kong, Japan and USA.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
Five (2) cases |
The Subject |
|
136,000,000 KRW |
|
News
Clipping
State-run firms to reduce labor
Korea Herald:11/20/2007
State-run companies, coveted employers for many young graduates due to
their stability and comfortable retirement conditions, are likely to hire much
fewer people in 2008 than this year.
According to industry sources, state enterprises will either hire a bare
minimum of fresh university graduates or significantly cut back on recruitment
next year, further intensifying competition in the youth job market.
State-run companies cited the possibility of an economic downturn next
year, and the likelihood of restructuring at the public firms following the
presidential elections in December as the reasons for not recruiting more
employees. A rising trend in job seekers with experience and specialized
skills, as well as job-seeking senior citizens is also adding to employment
competition.
Korea National Housing Corporation said it plans to recruit about 50 new
staff in 2008 - just enough to fill vacancies. The figure is 27.9 percent less
than the 179 new people it hired in the second half of 2007.
Incheon International Airport said it will hire no new staff next year,
after it hired 114 employees this year during its expansion projects. The Korea
Appraisal Board also said it has no plans to hire any full-time staff.
East Asia Airports Alliance said it will add about 30 new members, less
than half of the 86 it recruited this year. The Korea Rural Community and
Agriculture Corporation plans to add 100 next year, 25 less than this year,
while the Korea Resources Corporation has earmarked 100, down 40 from this
year`s figure.
The Korea Tourism Organization and Korea Agro-Fisheries Trade
Corporation, however, are exceptions. They each plan to hire about 20 people in
2008, as they had no recruitment this year.
A survey released yesterday by Incruit Corp., operator of a job portal
site, found that the average hiring competition rate for fresh university
graduates at state-run firms was 76:1 during the second half of this year. The
survey was conducted on a total of 33 public corporations. It showed that
competition to enter state-run firms was fiercer than at the country`s major
conglomerates, which was 42:1.
By Yoo Soh-jung (sohjung@heraldm.com)
Agriculture and Fishery Trade Imbalance Grows
MAEIL NEWSPAPER :2006-07-03
According to Korea Agro-fisheries Trade Corp. (AT) on July 3,
agro-fisheries' exports from January to May, 2006 totaled $1.27 billion, a 2.7
percent decrease, year-on-year, which expanded the deficit gap in the trade
balance this year.
On the other hand, imports were robust at $6.31 billion, a 7.2 percent
increase from the same period last year, which increased the trade balance
deficit by $5.4 billion.
The agro-fishery trade balance recorded an all-time high of a 10.1
percent increase from the $4.57 billion from January to May, 2005.
Although the agro-fishery deficit posted $4 billion in 1987, the figure
has constantly increased and marked $10.1 billion in 2004, to exceed $10
billion-level for the first time.
The figure has reached $10.86 billion in 2005, the all-time record.
The reason behind the trade imbalance has been attributed to the rising
consumption of Chilean products due to opening of the agro-fisheries market.
The export reduction gap for forest and marine products has been
magnified to a two-digit number and dull movement in export of domestic
agro-food products has triggered a trade imbalance.
Japan has strengthened its agricultural management and has decreased the
import volume of Kimchi and Paprika due to worries over parasites and Korean
agricultural chemicals.
Kimchi export volume has plummeted 43.9 percent from January to May and
the vegetable export volume has decreased by 23.7 percent.
[Bo-yung Kim / CJB]
Market Survey on Agricultural Products by Korean Agro-Fisheries Trade
Corporation
BUSAN ILBO : 2006. 04.13
A survey reveals that, as distribution fees of agricultural products are
increasing, the consumer price index soared 45% last year. If a consumer
purchases 10,000 worth of agricultural products, 5,500 won of the price is for
the product, but 4,500 won is for distribution fees.
The Korean Agro-Fisheries Trade Corporation yesterday conducted its
annual market survey of 24 major agricultural products showing domestic
distribution fees covered 45.6% of the product, up 4.2% compared to last year.
The ratio of distribution last year showed 40.6% of the product; 43.7% in 2001;
45.0% in 2002; 43.7% in 2003; and 40.8% in 2004.
A source from the corporation said, “A part of the reason for increased
distribution fees is due to an increase in benefits of distributors dealing
with agricultural products,” adding, “However, we consider it is because of
higher labor fees and oil prices.”
In detail, the sales price of a Korean cabbage was 702 won from the
farmer, but the consumer price was 2,490 won, implying that over 71.8% of
distribution fees were added. In case of other agricultural products, 83.1% was
added to green onions; 62.7% to apples; 66.8% to chickens; 74.0% to potatoes;
65.0% to lettuce; 69.1% to carrots; and 68.8% to onions.
In the case of rice, it is surveyed that 23.2% was added, a little lower
than other agricultural products, but a higher percentage compared to last
year. Comparatively lower products were dried peppers (30.0%), beef (36.6%),
garlic (37.5%), strawberries (38.7%), and pork (39.7%). A source said,
“Compared to distribution fees in the US, they are still lower in Korea.”
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)