MIRA INFORM REPORT

 

 

Report Date :

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

JEJU TOURISM ORGANIZATION

 

 

Registered Office :

3FL., Jeju Welcome Center 313-80, Yeon-dong, Jeju-si, Jeju-do, Korea 690-785

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.06.2008

 

 

Com. Reg. No.:

616-82-21432

 

 

Legal Form :

Governmental Corporation

 

 

Line of Business :

Other Tourist Assistance and Reservation Services

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Basic

 

Company Name

JEJU TOURISM ORGANIZATION

(Korean Company Name : “제주관광공사”)

Registered Address

313-80, Yeon-dong, Jeju-si, Jeju-do, Korea

Building

3FL., Jeju Welcome Center

Zip Code

690-785

Tel

+82-64-740-6000

Fax

+82-64-740-6090~1

E-mail

guardwin@empal.com;jtokms@naver.com

Website

www.ijto.or.kr

Trading Address

3FL., Jeju Welcome Center, 313-80, Yeon-dong, Jeju-si, Jeju-do, Korea

Tel

+82-64-740-6000

Fax

+82-64-740-6090~1

Type

Services

Industry

Other Tourist Assistance and Reservation Services

  Main Business

PR Services, Marketing Services, Products Development, R&D, Tour System, Education & Consulting Services, Duty Free Shop Operation Services

Established (mm/dd/yyyy)

06/25/2008

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Distribution(80141700)

 

 

CEO’s

 

Name

Park Young-Soo

Address

Suite Ra-610, 261-44, Yeon-dong, Jeju-si, Jeju-do, Korea

Date of Birth

02/05/1951

Title

President

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

6,500,000,000

Employees

50

Formation

Governmental Corporation

Bank Details

Jeju Bank

Corporate Registered No.

220171-0006762

Business Registered No.

616-82-21432

Permit & Licenses

N/A

Shareholder Position

Name

Amount

%

JEJU SPECIAL SELF-GOVERNING PROVINCE

4,500,000,000

90.00

JEJU INTERNATIONAL FREE CITY DEVELOPMENT CENTER(114671-0029705)

500,000,000

10.00

TOTAL

5,000,000,000

100.00

(*)The above list is based as of 12/31/2010.

Company History

06/25/2008 Incorporated as the present name

03/11/2009 Moved to the present HQ address from 324-37, Yeon-dong, Jeju-si, Jeju-do, Korea

05/02/2011 Increased capital to 6,500,000,000 KRW from 5,000,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President

Mr.

Park Young-Soo

Male

Korean

06/25/2008

Director

Mr.

Kim Sung-Do

Male

Korean

01/09/2009

Director

Mr.

Han Dong-Joo

Male

Korean

08/05/2010

Auditor

Mr.

Yang Dong-Gon

Male

Korean

01/09/2009

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

42,957,053,035

16,917,479,154

4,078,267,667

2009

22,340,418,888

14,365,286,781

1,085,188,628

 

 

Financial Description

 

Authorized Capital(KRW)

15,000,000,000

Paid-Up Capital(KRW)

6,500,000,000

Total Issues Shares

1,300,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

16,917,479,154

14,365,286,781

 

Current Assets

11,818,024,803

9,184,297,570

 

-Quick Assets

 

 

 

-Inventories

 

 

 

Fixed Assets

5,099,454,351

5,180,989,211

 

-Investment

 

 

 

-Tangibles

 

 

 

-Intangibles

 

 

 

Total Liabilities

7,197,623,348

9,423,698,642

 

Current Liabilities

4,171,460,298

3,738,038,823

 

Fixed Liabilities

3,026,163,050

5,685,659,819

 

Capital Stock

 

 

 

Capital Surplus

5,000,000,000

3,500,000,000

 

Profit Surplus

0

800,000,000

 

Capital Adjustment

4,719,855,806

641,588,139

 

Total Equity

9,719,855,806

4,941,588,139

 

Liab. & Shareholder’s Equity

16,917,479,154

14,365,286,781

 

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

42,957,053,035

22,340,418,888

 

Cost of Sold Goods

28,105,194,005

13,690,279,381

 

Gross Profit

14,851,859,030

8,650,139,507

 

Selling & Admin. Expenses

11,911,641,856

8,553,863,117

 

Operating Income

2,940,217,174

96,276,390

 

Non-Operating Income

2,887,540,813

1,742,437,370

 

Non-Operating Expenses

424,738,560

572,891,972

 

Income Before Taxes

5,403,019,427

1,265,821,788

 

Income Taxes Expenses

1,324,751,760

180,633,160

 

Net Income

4,078,267,667

1,085,188,628

 

 

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

3,134,586,162

145,476,485

3,134,586,162

Cash Flows from Investing

-580,918,999

-5,413,731,394

-580,918,999

Cash Flows from Financing

-1,104,395,000

7,125,000,000

-1,104,395,000

Increase/Decrease in Cash

1,449,272,163

1,856,745,091

1,449,272,163

Cash at the End of Year

3,614,236,737

2,164,964,574

3,614,236,737

 

Products, Technologies, Services Description

 

Main Products & Services

PR Services, Marketing Services, Products Development, R&D, Tour System, Education & Consulting Services, Duty Free Shop Operation Services

 

 

Trade Partners & Competitors

 

Competitors

AK GLOBAL CO., LTD.

INCHEON INTERNATIONAL AIRPORT PASSENGER TERMINAL, P.O.BOX 35, 2851, UNSEO-DONG, JUNG-GU, INCHEON, KOREA

TEL:+82-32-743-2468  FAX:+82-32-743-2417

 

DONG WHA DUTY FREE SHOP CO., LTD.

B1, GWANGHWAMUN BLDG., 211, SEJONGNO, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-399-3000  FAX:+82-2-399-3111~2

 

PARADISE GLOBAL CO., LTD.

1408-5, JUNG 1-DONG, HAEUNDAE-GU, BUSAN, KOREA

TEL:+82-51-749-3335  FAX:+82-51-742-9992

 

KOREA NATIONAL TOURISM ORGANIZATION

10, DA-DONG, JUNG-GU, SEOUL, KOREA

TEL:+82-2-7299-497~499  FAX:+82-2-757-5997

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.05

UK Pound

1

Rs.71.91

Euro

1

Rs.64.34

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.