MIRA INFORM REPORT

 

 

Report Date :

01.12.2012

 

IDENTIFICATION DETAILS

 

Name :

WOORIN NATURE CO.

 

 

Formerly Known As :

WOORIN TRADING CO

 

 

Registered Office :

245-3, Seohyeon-dong, Seongnam Si Bundang-gu, Gyeonggi-do, Korea, Rm.916, Sungji Heightstel, Zip Code 463-824

 

 

Country :

South Korea

 

 

Date of Incorporation :

01.10.1995

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesaler of Animal Medicaments

 

 

No. of Employees :

05 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

Payment Behaviour :

---

Litigation :

---

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

South Korea - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

 

Source : CIA

 

 

Basic

 

Company Name

WOORIN NATURE CO.

(Ex. Company Name : WOORIN TRADING CO. “우린물산”)

(Korean Company Name : “우린네이쳐”)

Registered Address

245-3, Seohyeon-dong, Seongnam Si Bundang-gu, Gyeonggi-do, Korea

Building

Rm.916, Sungji Heightstel

Zip Code

463-824

Tel

+82-31-609-2142

Fax

+82-31-609-2143

E-mail

evernew92@hanmail.net

Website

www.woorin.info

Trading Address

Rm.916, Sungji Heightstel, 245-3, Seohyeon-dong, Seongnam Si Bundang-gu, Gyeonggi-do, Korea

Tel

+82-31-609-2143

Fax

+82-31-609-2143

Other Address

C-1017, 255-1, Seohyeon-dong, Seongnam Si Bundang-gu, Gyeonggi-do, Korea

Type

Export/Import

Industry

Wholesales of Animal Medicaments

  Main Business

Veterinary Products, Animal Feed

Established (mm/dd/yyyy)

10/01/1995

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Veterinary products(42121600)

Sell

Veterinary antibiotics(51102600)

 

 

CEO’s

 

Name

Ko Yeong-Gyu

Title

Owner

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

Not Applicable to the Sole Proprietorship

Employees

5

Formation

Sole Proprietorship

Bank Details

Hana Bank-Mikeum Station Branch

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

N/A. (The numbers are kept by the National Tax Service confidentially.)

Because the subject’s full Business Registered No., for checking through the National Tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.)

Permit & Licenses

Int’l Trade No.: 11833268

Shareholder Position

The owner has 100% shares.

Company History

10/01/1995 Established as WOORIN TRADING CO.

2010 Changed company name to the present name

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

Mr.

Ko Yeong-Gyu

Male

Korean

10/01/1995

 

 

Financials

 

The financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

Not Applicable to the Sole Proprietorship

Paid-Up Capital(KRW)

Not Applicable to the Sole Proprietorship

Total Issued Shares

Not Applicable to the Sole Proprietorship

 

 

Products, Technologies, Services Description

 

Main Products & Services

Veterinary Products, Animal Feed

 

Trade Partners & Competitors

 

Suppliers

AYURVET LTD. (INDIA)

BELMIN LTD. (UK)

BIOVETA, A.S. (CZECH)

EVANS VANODINE INT'L (UK)

INDIAN HERBS (INDIA)

INTRACARE (HOLLANDS)

NOREL MEXICO DE S.A. (MEXICO)

PRECO SYSTEM SRL (ITALY)

THAINAOKA PHARM (THAILAND)

TRISAL S.A. (SPAIN)

Customers

DAENONG CHEMICALS CO.(KOREA)

SAB BIO TECH CO., LTD.(KOREA)

BOOYUN P&F CO., LTD.(KOREA)

Competitors

WOOSUNG CO., LTD.

33-19, TOYANG-RI, EUNJIN-MYEON, NONSAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-741-7836~40  FAX:+82-41-742-6205

 

MERIAL KOREA CO., LTD.

3RD FL., JUHO BLDG., 49-5, BANPO 4-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-3478-2711  FAX:+82-2-3478-2888

 

EAGLE VET. TECH CO., LTD.

256-46, DUGOK-RI, SINAM-MYEON, YESAN-GUN, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-331-4100  FAX:+82-41-331-4103

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Overseas Office

EVERNEW TRADING CO., LTD.(NEW ZEALAND)

 

 

Sales by Region

(Activity & Markets)

 

The Subject imports from India, Thailand, UK and Spain.

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.53

UK Pound

1

Rs.87.48

Euro

1

Rs.70.89

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

 

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