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Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HACO CO., LTD. |
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|
|
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Registered Office : |
263-3, Yulgeum-ri, Seonghwan-eup, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea, Zip code 331-807 |
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|
|
Country : |
South Korea |
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|
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Date of Incorporation : |
09.10.1998 |
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|
|
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Com. Reg. No.: |
310-81-10817 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Manufacturer
of Synthetic Leather Nonwoven Fabric, Artificial Leather Nonwoven Fabric, hacolon (flexible nonwoven fabric and
synthetic leather), Flexible Microfiber, Durase (for high-end furniture and
cloths), Cleaning cloths (Ultra microfiber wiper for car wash and for
household) |
|
|
|
|
No. of Employees : |
54 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
|
Company
Name |
HACO CO., LTD. (Korean Company Name : “(주)하코”) |
|
Registered Address |
263-3, Yulgeum-ri, Seonghwan-eup, Seobuk-gu,
Cheonan-si, Chungcheongnam-do, Korea |
|
Zip Code |
331-807 |
|
Tel |
+82-41-582-2046 |
|
Fax |
+82-41-582-2049 |
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E-mail |
|
|
Website |
|
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Trading
Address |
2nd Fl., Songnam Bldg., 1358-6, Seocho 2-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-3446-3090 |
|
Fax |
+82-2-518-5945 |
|
Type |
Export |
|
Main Business |
Manufacturer of Synthetic
Leather Nonwoven Fabric, Artificial Leather Nonwoven Fabric, hacolon (flexible nonwoven fabric and
synthetic leather), Flexible Microfiber, Durase (for high-end furniture and
cloths), Cleaning cloths (Ultra microfiber wiper for car wash and for household) |
|
Established (mm/dd/yyyy) |
10/09/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Nonwoven fabrics(11162200) |
|
Sell |
Synthetic or imitation leather(11162307) |
|
Sell |
Cleaning cloths or wipes(47131502) |
|
Sell |
Air filters(40161505) |
|
Sell |
Shoe accessories(53112000) |
|
Buy |
Packaging films(24141514) |
|
Buy |
Tags(55121500) |
|
Buy |
Bags(24111500) |
|
Buy |
Paper tubes or cores(24141701) |
|
Buy |
Yarns(11151700) |
|
Buy |
Clothing labels(55121602) |
|
Name |
Kim
Young-Il |
|
Address |
Suite 501, 938-21, Bangbae-dong,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
10/09/1947 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,830,000,000 |
||||||||||||
|
Employees |
54 |
||||||||||||
|
Formation |
Co.,
Ltd by Shares |
||||||||||||
|
Bank Details |
Kookmin Bank |
||||||||||||
|
Corporate Registered No. |
161411-0007358 |
||||||||||||
|
Business Registered No. |
310-81-10817 |
||||||||||||
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Permit & Licenses |
0/1999 ISO 9002 Int’l
Trade No.: 11485133 |
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Shareholder Position |
|
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Company History |
10/09/1998 Incorporated as the present name 05/2000 Designated as a Venture Business 11/2003 Awarded US$ 10 Million Export Top
Prize 11/2004 Designated as a Venture Business
again 06/16/2006 Moved to the present HQ address
from 61-1, Sudang-ri, Unsan-myeon, Seosan-si,
Chungcheongnam-do, Korea |
||||||||||||
|
|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Young-Il |
Male |
Korean |
09/04/2002 |
|
Director |
Mr. |
Choi Do-Young |
Male |
Korean |
05/13/2008 |
|
Director |
Mr. |
Lee Duck-Woo |
Male |
Korean |
03/29/2012 |
|
Auditor |
M/S. |
Yoon So-Jung |
Female |
Korean |
03/29/2009 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2010 |
17,000,000,000 |
|
900,000,000 |
|
2009 |
14,000,000,000 |
|
500,000,000 |
|
2004 |
13,595,000,000 |
|
|
|
2003 |
12,311,000,000 |
|
|
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
3,000,000,000 |
|
Paid-Up Capital(KRW) |
1,830,000,000 |
|
Total Issued Shares |
366,000 |
|
Main Products & Services |
(1) Synthetic leather nonwoven fabric - high Density nonwoven fabric, multi
layered nonwoven fabric and more. (2) Artificial leather nonwoven fabric - Ultra microfiber nonwoven
fabric (application: shoes/furniture/clothing). (3) HACOLON - flexible nonwoven fabric and synthetic leather. (4) The latest development item (5) Cleaning cloths - Ultra microfiber wiper for car wash and for
household. |
|
Customers |
M&FC CO., LTD.(164811-0007452) |
|
Competitors |
JINSUNG
TEXTILE CO., LTD. 161,
GUGOK-RI, MUNBAEK-MYEON, JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-534-0540 FAX:+82-43-534-2962 RIO
INDUSTRIES CO., LTD. RM. 404, MICHELAN147,
147-2, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-508-0469 FAX:+82-2-508-6111~2 DONGIL
INDUSTRIAL CO. 725-5,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-2341 FAX:+82-31-494-2343 |
(Activity & Markets)
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
UK Pound |
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.