MIRA INFORM REPORT

 

 

Report Date :           

21.09.2011

 

IDENTIFICATION DETAILS

 

Name :

LUCE'N LEE CO., LTD.

 

 

Formerly Known As :

GP JEWELRY CO., LTD

 

 

Registered Office :

96-15, Cheongdam-dong, Gangnam-gu, Seoul, Korea, 2FL., Dongyang Bldg., Zip Code 137-898

 

 

Country :

South korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.09.2003

 

 

Com. Reg. No.:

101-81-97791

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Diamond and Jewelry

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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

 

 Bottom of Form

Basic

 

Company Name

LUCE'N LEE CO., LTD.

(Korean Company Name : “(주)루첸리”)

Registered Address

96-15, Cheongdam-dong, Gangnam-gu, Seoul, Korea

Building

2FL., Dongyang Bldg.

Zip Code

137-898

Tel

+82-2-577-4880

Fax

+82-2-766-5767

E-mail

jusakim@hanmail.net

Website

www.lucenlee.com

Trading Address

2FL., Dongyang Bldg., 96-15, Cheongdam-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-577-4880

Fax

+82-2-766-5767

Other Address-Dogok Branch

B1FL., 467-7, Dogok-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-3462-4880

Other Address-Hyundai Apgujeong Branch

Hyundai Dept. Store Co., 1F., 429, Apgujeong-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-3438-6167

Other Address-Hyundai Mok Dong Branch

Mokdong Hyundai Hiperion II, 1F., 916, Mok 1-dong, Yangcheon-gu, Seoul, Korea

Tel

+82-2-2163-1185

Other Address-Hyundai Trade Center Branch

Trade Center Hyundai Dept. Store, 1F., 159-7, Samseong 1-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-3467-8481

Other Address-Hyundai Shinchon Branch

Hyundai Dept. Store Shinchon Branch, 2F., 30-33, Changcheon-dong, Seodaemun-gu, Seoul, Korea

Tel

+82-2-3145-2171

Other Address-Hyundai Mia Branch

Hyundai Dept. Store Mia Branch, 1F., 20-1, Gireum 2-dong, Seongbuk-gu, Seoul, Korea

Tel

+82-2-2117-1182

Other Address-Hyundai Bucheon Jungdong Branch

Hyundai Dept. Store Bucheon Jungdong Branch, 1F., 1164, Jung 1-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

Tel

+82-32-623-2194

Other Address-Hyundai KINTEX Branch

KINTEX, 1F., 2611, Daehwa-dong, Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea

Tel

+82-31-822-2924

Other Address-Hyundai Ulsan Branch

Hyundai Dept. Store, 1F., 1521-1, Samsan-dong, Nam-gu, Ulsan, Korea

Tel

+82-52-228-0181

Other Address-Lotte HQ Branch

Lotte Shopping Center Bldg., B1., 1, Sogong-dong, Jung-gu, Seoul, Korea

Tel

+82-2-726-4067

Other Address-Lotte Yeongdeungpo Branch

Lotte Dept. Store Youngdungpo Branch, 1F., 618-496, Yeongdeungpo-dong, Yeongdeungpo-gu, Seoul, Korea

Tel

+82-2-2164-5090

Other Address-Lotte Chungryangri Branch

Lotte Dept. Store, Chungryangri Branch, 1F., 620-69, Jonnong-dong, Dongdaemun-gu, Seoul, Korea

Tel

+82-2-3707-1137

Other Address-Lotte Kundae Starcity Branch

Lotte Dept. Store, Kundae Starcity Branch, 1F., 227-342, Jayang-dong, Gwangjin-gu, Seoul, Korea

Tel

+82-2-2218-3181

Other Address-Lotte Anyang Branch

Lotte Dept. Store, Anyang Branch, 1F., 88-1, Anyang-dong, Manan-gu, Anyang-si, Gyeonggi-do, Korea

Tel

+82-31-463-2132

Other Address-Lotte Ilsan Branch

Lotte Dept. Store Ilsan Branch, 2F., 784, Janghang 2-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea

Tel

+82-31-909-3111

Other Address-Lotte Busan HQ Branch

Lotte Dept. Store, 1F., 503-15, Bujeon 2-dong, Busanjin-gu, Busan, Korea

Tel

+82-51-810-4150

Other Address-Lotte Daegu Branch

Lotte Dept. Store, Daegu Branch, 1F., 302-155, Chilseong-dong 2-ga, Buk-gu, Daegu, Korea

Tel

+82-53-660-3199

Other Address-Lotte Gwangju Branch

Lotte Dept Store, Gwangju Branch 1F., 7-1, Daein-dong, Dong-gu, Gwangju, Korea

Tel

+82-62-221-1177

Other Address-AK Plaza Bundang Branch

AK Plaza, Bundang Branch, 1F., 263, Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Tel

+82-31-709-4881

Other Address-Galleria Time World Branch

Galleria Time World Branch, B1., 1036, Dunsan 2-dong, Seo-gu, Daejeon, Korea

Tel

+82-42-720-6151

Type

Export/Import

Industry

Wholesale of Diamond and Jewelry

  Main Business

Jewelry, Ring, Necklace, Earring, Bracelet, Couple ring, Brooch

Established (mm/dd/yyyy)

09/24/2003

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Diamond gemstones(54121501)

Sell

Fine jewelry necklaces(54101502)

Sell

Jewelry(54100000)

 

 

CEO’s

 

Name

Kim Sang-Ok

Address

Suite 202, 365-2, Yangjae-dong, Seocho-gu, Seoul, Korea

Date of Birth

01/25/1953

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

1,000,000,000

Employees

80

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea

Corporate Registered No.

110111-2862616

Business Registered No.

101-81-97791

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

09/24/2003 Incorporated as GP JEWELRY CO., LTD.

12/22/2005 Increased capital to 250,000,000 KRW from 100,000,000 KRW

05/15/2006 Increased the authorized shares to 5,000,000 shares from 300,000 shares

05/23/2006 Increased capital to 1,000,000,000 KRW from 250,000,000 KRW

03/30/2007 Increased the authorized shares to 5,000,000 KRW from 300,000 shares

03/31/2009 Changed company name to the present name

03/31/2009 Moved to the present HQ address from 179, Myo-dong, Jongno-gu, Seoul, Korea

04/20/2011 Moved to the present HQ address from 2FL., GP Bldg., 362-5, Yangjae-dong, Seocho-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Sang-Ok

Male

Korean

05/15/2006

Director

M/S.

Yoo Kwang-Soon

Female

Korean

09/24/2006

Auditor

M/S.

Lee Hyun-Jung

Female

Korean

03/31/2006

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

12,330,000,000

8,898,000,000

322,000,000

2009

11,275,000,000

9,738,000,000

15,000,000

2008

5,198,000,000

2,694,000,000

90,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

25,000,000,000

Paid-Up Capital(KRW)

1,000,000,000

Total Issues Shares

200,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

8,898,000,000

9,738,000,000

2,694,000,000

Current Assets

7,419,000,000

8,258,000,000

 

-Quick Assets

2,581,000,000

2,016,000,000

 

-Inventories

4,838,000,000

6,242,000,000

 

Fixed Assets

1,479,000,000

1,479,000,000

 

-Investment

965,000,000

957,000,000

 

-Tangibles

296,000,000

308,000,000

 

-Intangibles

-

3,000,000

 

 

217,000,000

212,000,000

 

Total Liabilities

7,072,000,000

8,234,000,000

1,474,000,000

Current Liabilities

6,979,000,000

8,141,000,000

 

Fixed Liabilities

93,000,000

93,000,000

 

Capital Stock

1,000,000,000

1,000,000,000

 

Capital Surplus

-

-

 

Profit Surplus

834,000,000

512,000,000

 

Capital Adjustment

-8,000,000

-8,000,000

 

Total Equity

1,826,000,000

1,504,000,000

1,220,000,000

Liab. & Shareholder’s Equity

8,898,000,000

9,738,000,000

2,694,000,000

 

Income Statement

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

12,330,000,000

11,275,000,000

5,198,000,000

Cost of Sold Goods

6,152,000,000

5,947,000,000

 

Gross Profit

6,179,000,000

5,328,000,000

 

Selling & Admin. Expenses

5,376,000,000

5,091,000,000

 

Operating Income

803,000,000

237,000,000

 

Non-Operating Income

120,000,000

67,000,000

 

Non-Operating Expenses

519,000,000

286,000,000

 

Income Before Taxes

404,000,000

18,000,000

 

Income Taxes Expenses

82,000,000

2,000,000

 

Net Income

322,000,000

15,000,000

90,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Jewelry, Ring, Necklace, Earring, Bracelet, Couple ring, Brooch

 

 

Trade Partners & Competitors

 

Customers

Major Domestic Department Stores including Hyundai and Lotte Department Stores

Competitors

ADONIS JEWELRY CO., LTD.

RM.601, APGUJUNG SQUARE, 620, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-512-3268  FAX:+82-2-512-3269

 

SAMSHIN DIAMOND CO., LTD.

SAMSIN BLDG., 598-6, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-540-3344  FAX:+82-2-540-2779

 

YEJI JEWELRY

B1, YUNGGI BLDG., 614-3, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-515-9983  FAX:+82-2-515-9184

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

GP PHARM. CO., LTD.(110111-1737430)

 

QINGDA GP DIAMOND CO., LTD.(CHINA)

150 CHONGQINGNAN ROAD, QINGDAO, CHINA, 266100

TEL:+86-532-8562-4770

 

GP DIAMONDS CO., LTD.(110111-1867782)

(*)06/01/2010 GP DIAMONDS CO., LTD.(110111-1867782) has been disorganized the subject company after being acquired by BLUEGEM D&C CO., LTD.(Ex. MIJU C&I CO., LTD. :110111-1458482)

 

 

Sales by Region

(Activity & Markets)

 

The Subject imports from China.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.22

UK Pound

1

Rs.75.63

Euro

1

Rs.65.65

 

 

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.