MIRA INFORM REPORT

 

 

Report Date :

12.12.2012

 

IDENTIFICATION DETAILS

 

Name :

OH JUNG COMMERCIAL CO., LTD.

 

 

Registered Office :

291-10, Hawangsimni-dong, Seongdong-gu, Seoul

 

 

Country :

South Korea

 

 

Date of Incorporation :

24.10.1977

 

 

Reg. No.:

206-81-05714

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Other Prepared Food

 

 

No. of Employees :

15

 

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 :

Unknown

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

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 Information

 

Company Name

OH JUNG COMMERCIAL CO., LTD.

Registered Address

291-10, Hawangsimni-dong, Seongdong-gu, Seoul, Korea

Building

B1, Deogyung Bldg.

Zip Code

133-854

Tel

+82-2-2293-7883

Fax

+82-2-2294-4389

E-mail

lily2426@nate.com

Website

 

Trading Address

B1, Deogyung Bldg., 291-10, Hawangsimni-dong, Seongdong-gu, Seoul, Korea

(New Address System : 452, Cheonggyecheon-ro, Seongdong-gu, Seoul, Korea)

Tel

+82-2-2293-7883

Fax

+82-2-2294-4389

Other Address

3rd Fl., Ojeong Bldg., 14-19, Sangwangsimni-dong, Seongdong-gu, Seoul, Korea

Tel

+82-2-2293-7883

Fax

+82-2-2294-4389

Type

Export

Industry

Wholesale of Other Prepared Food

  Main Business

Food Additives, Chemicals, Cosmetics Raw Materials, Pharmaceuticals Raw Materials

Established (mm/dd/yyyy)

10/24/1977

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Food or drug or cosmetic safe FDC dyes(12171504)

 

 

CEO’s

 

Name

Choi Byung-Jin

Address

Suite 127-806, 433, Apgujeong-dong, Gangnam-gu, Seoul, Korea

Date of Birth

07/13/1952

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

200,000,000

Employees

15

Formation

Co., Ltd by Shares

Bank Details

Industrial Bank of Korea-Chunggye Branch

Corporate Registered No.

110111-0220626

Business Registered No.

206-81-05714

Permit & Licenses

Int’l Trade No.: 949051

Shareholder Position

Name

Shares

%

CHOI BYUNG-JIN

13,000

32.50

CHOI BYUNG-GAK

12,600

31.50

CHOI BYUNG-GEON

12,600

31.50

CHOI KYUNG-WON

800

2.00

CHOI SANG-DUCK

600

1.50

OTHERS

400

1.00

TOTAL

40,000

100.00

Company History

10/24/1977 Incorporated as the present name

02/01/2002 Moved to the present HQ address from 16-26, Sangwangsimni-dong, Seongdong-gu, Seoul, Korea

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Choi Byung-Jin

Male

Korean

04/01/1998

Director

Mr.

Lee Ki-Jung

Male

Korean

10/24/1994

Director

Mr.

Choi Sang-Duck

Male

Korean

10/24/1994

Auditor

Mr.

Choi Byung-Geon

Male

Korean

03/02/1994

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

 

 

 

2007

 

 

 

2006

 

 

 

2005

2,198,000,000

4,867,000,000

278,000,000

2004

2,046,000,000

4,619,000,000

221,000,000

2003

1,825,000,000

4,086,000,000

284,000,000

The latest 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)

400,000,000

Paid-Up Capital(KRW)

200,000,000

Total Issued Shares

40,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Food Additives, Chemicals, Cosmetics Raw Materials, Pharmaceuticals Raw Materials

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

CSF CORPORATION

167-12, ALLAK 2-DONG, DONGNAE-GU, BUSAN, KOREA

TEL:+82-51-531-8181  FAX:+82-51-531-8286

 

ILSHIN CHEMICAL CO., LTD.

287-2, BUKJEONG-DONG, YANGSAN-SI, GYEONGSANGNAM-DO, KOREA

TEL:+82-55-385-5826~7  FAX:+82-55-383-4808

 

ORAE FOOD CO., LTD.

103, GONJIAM-RI, SILCHON-EUP, GWANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-761-2733  FAX:+82-31-761-2735

 

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2011

2010

2009

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

Not Available.

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (Million KRW)

Status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not Available.

 

 

News Clipping

 

 

Not Available.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.32

UK Pound

1

Rs.87.36

Euro

1

Rs.70.36

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.