MIRA INFORM REPORT

Report Date :

29.10.2012

IDENTIFICATION DETAILS

Correct Name :	APROPOS CO., LTD.

Registered Office :	449-4, Gayang 3-dong, Gangseo-gu, Seoul, Korea, Rm. 1506, Hanwha Biz Metro 1-cha, Zip Code 157-804

Country :	South korea

Date of Incorporation :	12.08.2008

Com. Reg. No.:	105-87-22993

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesaler of Shirts and Outer Garments

No. of Employees :	17 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South korea

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	APROPOS CO., LTD. (Korean Company Name : “(주)아프로포스”)
Registered Address	449-4, Gayang 3-dong, Gangseo-gu, Seoul, Korea
Building	Rm. 1506, Hanwha Biz Metro 1-cha
Zip Code	157-804
Tel	+82-2-715-5855
Fax	+82-2-715-8788
Trading Address	Rm. 1506~1510, Hanwha Biz Metro 1-cha, 449-4, Gayang 3-dong, Gangseo-gu, Seoul, Korea (New Address System : Rm. 1506~1510, Hanwha Biz Metro 1-cha, 551-17, Yangcheon-ro, Gangseo-gu, Seoul, Korea)
Tel	+82-2-715-5855
Fax	+82-2-715-8788
Type	Export
Industry	Wholesale of Shirts and Outer Garments
Main Business	Working Uniform, Knitwear, Shirts, Medical Uniform
Established (mm/dd/yyyy)	08/12/2008

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Uniforms(53102700)
Sell	Corporate uniforms(53102710)

CEO’s

Name	Kim Yoon-Kyung
Address	Suite 104-703, 508, Daebang-dong, Dongjak-gu, Seoul, Korea
Date of Birth	05/07/1964
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	200,000,000
Employees	17
Formation	Co., Ltd by Shares
Bank Details	N/A
Corporate Registered No.	1101113-951757
Business Registered No.	105-87-22993
Permit & Licenses	N/A
Shareholder Position	N/A
Company History	08/12/2008 Incorporated as the present name 12/30/2009 Increased capital to 200,000,000 KRW from 100,000,000 KRW 11/2010 Awarded US$ 5 Million Export Top Prize 11/2011 Awarded US$ 10 Million Export Top Prize 03/16/2012 Moved to the present HQ address from Rm.215, Mapo Trapalace, 559, Dohwa-dong, Mapo-gu, Seoul, Korea

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Kim Yoon-Kyung	Male	Korean	09/15/2010
Director	M/S.	Lee Yoon-Joo	Female	Korean	08/12/2011
Auditor	Mr.	Lee Dae-Woon	Male	Korean	03/18/2011

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2011	30,123,000,000	6,541,000,000	441,000,000
2010	26,334,000,000	5,419,000,000	417,000,000
2009	18,482,000,000	4,372,000,000	257,000,000
2008	2,011,000,000

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)	400,000,000
Paid-Up Capital(KRW)	200,000,000
Total Issued Shares	40,000

Products, Technologies, Services Description

Main Products & Services

Working Uniform, Knitwear, Shirts, Medical Uniform

Trade Partners & Competitors

Competitors

ENTER. B CO., LTD.

RM. 402, ACE HIGH AND TOWER 1-CHA, 235-2, GURO 3-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-2-6220-2081 FAX:+82-2-6220-2088

VEGA CORPORATION

1125, BONGGI-RI, PUNGGAK-MYEON, CHEONGDO-GUN, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-371-6835 FAX:+82-54-371-6838

KC CORPORATION

RM. 1502, NEW SEOUL BLDG., 62-7, CHUNGMURO 2-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-319-1133 FAX:+82-2-319-5300

Sales by Region

(Activity & Markets)

The Subject exports to USA.

Court Action

Not Available.

News Clipping

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.63
UK Pound	1	Rs.86.18
Euro	1	Rs.69.75

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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