|
Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GAEUN CORPORATION |
|
|
|
|
Registered Office : |
16-26, Seongsu-dong 1-ga, Seongdong-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Com. Reg. No.: |
110-12-26412 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesales of Leather & Fur Products |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 is currently the world's 12th largest economy. 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. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. 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 |
GAEUN CORPORATION |
|
Registered Address |
16-26, Seongsu-dong 1-ga, Seongdong-gu, Seoul, Korea |
|
Building |
1FL. |
|
Zip Code |
133-110 |
|
Tel |
+82-2-497-0544 |
|
Fax |
+82-2-497-0543 |
|
Trading Address |
1FL., 16-26, Seongsu-dong 1-ga, Seongdong-gu,
Seoul, Korea |
|
Tel |
+82-2-497-0544 |
|
Fax |
+82-2-497-0543 |
|
Type |
Export/Import |
|
Industry |
Wholesales of Leather & Fur Products |
|
Established (mm/dd/yyyy) |
N/A |
The Subject Company occupies the premises of
registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Leathers(11162300) |
CEO’s
|
Name |
Kim Yo-Hyung |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Industrial Bank of Korea-Ttukseom Station Branch 1FL., SK Techno Bldg, 16-4, Seongsu-dong 1-ga, Seongdong-gu,
Seoul, Korea Tel:+82-2-2205-2052~3 |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
110-12-26412 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The Owner has 100% shares. |
|
Company History |
Not Available, but it is known that it has
been established before 2008. |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Kim Yo-Hyung |
Male |
Korean |
|
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 |
Leather and Fur Products |
Trade Partners
& Competitors
|
Competitors |
DAE IL LEATHER CO., LTD. 1086-1, JANGNIM 1-DONG, SAHA-GU, BUSAN,
KOREA TEL:+82-51-262-9191~4 FAX:+82-51-262-9195 SEONG WON LEATHER IND. CO., LTD. 18B-45, BANWOL INDUSTRIAL COMPLEX, 617-7,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-0212~3 FAX:+82-31-491-0504 YONG SHIN LEATHER CO., LTD. 100, SAMBANG-DONG, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-329-0871 FAX:+82-55-329-0874 |
Sales by region (Activity & Markets)
The subject imports from India and
Pakistan.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.