MIRA INFORM REPORT

 

 

Report Date :

27.11.2012

 

IDENTIFICATION DETAILS

 

Name :

JINO TRADING CORPORATION

 

 

Registered Office :

271-8, Seongsu 2-ga 3-dong, Seongdong-gu, Seoul 133-831

 

 

Country :

South Korea

 

 

Date of Incorporation :

26.06.1995

 

 

Reg. No.:

218-81-16460

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Other Agricultural Raw Materials and Live Animals

 

 

No. of Employees :

9

 

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

JINO TRADING CORPORATION

Registered Address

271-8, Seongsu 2-ga 3-dong, Seongdong-gu, Seoul, Korea

Zip Code

133-831

Tel

+82-2-497-6147

Fax

+82-2-497-6149

E-mail

sonsh83@hanmail.net

Trading Address

271-8, Seongsu 2-ga 3-dong, Seongdong-gu, Seoul, Korea

Tel

+82-2-497-6147

Fax

+82-2-497-6149

Other Address-Gangnam Branch

671-11, Yeoksam-dong, Gangnam-gu, Seoul, Korea

Type

Import

Industry

Wholesale of Other Agricultural Raw Materials and Live Animals

  Main Business

Leather

Established (mm/dd/yyyy)

06/26/1995

M/S. Hong Hye-Kyung (ex. director to the subject company) owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Leathers(11162300)

Sell

Cow leather(11162305)

 

 

CEO’s

 

Name

Sohn Jin-Ho

Address

6, Pangyoyeok-ro 18beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

09/13/1956

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

9

Formation

Co., Ltd by shares

Bank Details

Shinhan Bank-Seongsu Branch

Corporate Registered No.

110111-1170812

Business Registered No.

218-81-16460

Permit & Licenses

Int’l Trade No.: 1112113

Shareholder Position

Name

Shares

%

SOHN JIN-HO

3,000

60.00

SOHN JIN-BYUNG

1,050

21.00

SOHN YOUNG-MAN

500

10.00

OTHERS

450

9.00

TOTAL

5,000

100.00

Company History

06/26/1995 Incorporated as the present name

01/02/2003 Moved to the present HQ address from 277-17, Seongsu 2-ga 3-dong, Seongdong-gu, Seoul, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Sohn Jin-Ho

Male

Korean

06/26/1995

Director

Mr.

Sohn Young-Man

Male

Korean

06/26/1995

Auditor

Mr.

Yang Cheol-Jong

Male

Korean

06/26/1995

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

3,500,000,000

 

 

2008

4,000,000,000

 

 

2007

 

 

 

2006

 

 

 

2005

 

 

 

2004

 

 

 

2003

 

 

 

The full 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)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issues Shares

5,000

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Leather

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

The Subject wholesales to the domestic manufactures of shoes, bags and belts.

Competitors

KONA INTERNATIONAL CO., LTD.

RM. 512, BYUCKSAN DIGITAL VALLEY 2-CHA, 481-10, GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA

TEL:+82-2-863-5071~2  FAX:+82-2-863-5073

 

TAEHWA CO., LTD.

16B-5, 456, MONGNAE-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-491-6693  FAX:+82-31-491-3278

 

KWANG JE CO., LTD.

A-1301, SK LEADERS VIEW, 444-3, BANGBAE 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-581-0271  FAX:+82-2-581-0231

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2011

2010

2009

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

The Subject imports from India, France and Italy.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

Not Available.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.69

UK Pound

1

Rs.89.19

Euro

1

Rs.72.10

 

 

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%)

 

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