MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

CORED TRADING CO., LTD.

 

 

Registered Office :

191-8, Munchon-ri, Wonsam-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea, Zip Code 449-873

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

08.02.2001

 

 

Com. Reg. No.:

212-81-50757

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesaler of Construction Materials

 

 

No. of Employees :

02 employees

 

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

(31.03.2012)

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

CORED TRADING CO., LTD.

(Korean Company Name : “코레드무역(주)”)

Registered Address

191-8, Munchon-ri, Wonsam-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea

Zip Code

449-873

Tel

+82-2-3426-3583

Fax

+82-2-3426-3584

E-mail

yskim@coredtrading.com

Website

www.coredtrading.com

Trading Address

191-8, Munchon-ri, Wonsam-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea

Tel

+82-2-3426-3583

Fax

+82-2-3426-3584

Other Address

520-19, Mangwol-dong, Hanam-si, Gyeonggi-do, Korea

Tel

+82-31-791-3996~7

Fax

+82-31-791-2995

Type

Export/Import

Industry

Wholesales of Construction Materials

  Main Business

Marble, Granite

Established (mm/dd/yyyy)

02/08/2001

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Masonry and stonework and tile setting(72102500)

Sell

Stone(11111600)

Sell

Granite(11111604)

 

 

CEO’s

 

Name

Kim Young-Seok (Mobile +82-17-242-6405)

Address

474, Amsa-dong, Gangdong-gu, Seoul, Korea

Date of Birth

11/29/1969

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

200,000,000

Employees

2

Formation

Co., Ltd by Shares

Bank Details

Suhyup Bank

Corporate Registered No.

1101112-167058

Business Registered No.

212-81-50757

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

02/08/2001 Incorporated as the present name

02/22/2011 Moved to the present HQ address from 474, Amsa-dong, Gangdong-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Young-Seok

Male

Korean

02/22/2011

Director

Mr.

Lee Young-Mook

Male

Korean

02/22/2011

Director

Mr.

Lee Ho-Ryun

Male

Korean

02/22/2012

Auditor

Mr.

Choi Hyun-Duck

Male

Korean

02/22/2011

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

1,974,000,000

572,000,000

56,000,000

2008

2,342,000,000

675,000,000

97,000,000

2007

2,175,000,000

509,000,000

96,000,000

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

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

 

572,000,000

675,000,000

Current Assets

 

355,000,000

515,000,000

-Quick Assets

 

74,000,000

144,000,000

-Inventories

 

282,000,000

371,000,000

Fixed Assets

 

216,000,000

160,000,000

-Investment

 

7,000,000

2,000,000

-Tangibles

 

141,000,000

116,000,000

-Intangibles

 

2,000,000

2,000,000

Total Liabilities

 

71,000,000

230,000,000

Current Liabilities

 

65,000,000

224,000,000

Fixed Liabilities

 

6,000,000

6,000,000

Capital Stock

 

100,000,000

100,000,000

Capital Surplus

 

-

-

Profit Surplus

 

400,000,000

345,000,000

Capital Adjustment

 

-

-

Total Equity

 

500,000,000

445,000,000

Liab. & Shareholder’s Equity

 

572,000,000

675,000,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

 

1,974,000,000

2,342,000,000

Cost of Sold Goods

 

1,384,000,000

1,913,000,000

Gross Profit

 

590,000,000

429,000,000

Selling & Admin. Expenses

 

530,000,000

332,000,000

Operating Income

 

60,000,000

97,000,000

Non-Operating Income

 

1,000,000

-

Non-Operating Expenses

 

1,000,000

1,000,000

Income Before Taxes

 

60,000,000

97,000,000

Income Taxes Expenses

 

5,000,000

-

Net Income

 

56,000,000

97,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Sand Stone, Marble, Granite

 

 

Trade Partners & Competitors

 

Competitors

ROLLING STONE CO., LTD.

131-3, GAMIL-DONG, HANAM-SI, GYEONGGI-DO, KOREA

TEL:+82-70-7096-1000  FAX:+82-31-903-1495

 

SAMJIN STONE & CONSTRUCTION CO., LTD.

3713-1, HWABUK 2-DONG, JEJU-SI, JEJU-DO, KOREA

TEL:+82-64-756-2821  FAX:+82-64-755-3151

 

JD STONE CO., LTD.

979-51, GUPYEONG-RI, NANGSAN-MYEON, IKSAN-SI, JEOLLABUK-DO, KOREA

TEL:+82-63-858-8474  FAX:+82-63-858-8473

 

 

Sales by Region

(Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

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%)

 

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.