|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOSPOL CO., LTD. |
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Registered Office : |
945-2, Daechi 2-dong, Gangnam-gu, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.07.2001 |
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Com. Reg. No.: |
215-86-11160 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Synthetic Rubber and Plastics Materials |
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|
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No. of Employees : |
07 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
|
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 30, 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 |
Basic
|
Company Name |
KOSPOL CO., LTD. (Korean Company Name : “(주)코스폴물산”) |
|
Registered
Address |
945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea |
|
Building |
Rm. 1002, Semyeong Bldg. |
|
Zip Code |
135-846 |
|
Tel |
+82-2-3452-6078 |
|
Fax |
+82-2-3452-6076 |
|
E-mail |
steve.chang@kospol.com;danny.seo@kospol.com |
|
Website |
www.kospol.com |
|
Trading Address |
Rm. 1002, Semyeong Bldg., 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3452-6078 |
|
Fax |
+82-2-3452-6076 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Wholesale of Synthetic Rubber and Plastics Materials |
|
Main Business |
PP, HEPE, LLDPE, EVA, PS, EPS, ABS, SBR, BR, PVC |
|
Sub Business |
Food &
Beverage |
|
Established
(mm/dd/yyyy) |
07/09/2001 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Polystyrene resin(13111023) |
|
Sell |
High Density Polyethylene HDPE(13102017) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Polypropylene PP(13102022) |
CEO’s
|
Name |
Chang Young-Bae(Steve) |
|
Address |
Suite 15-707,
500, Daechi-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
12/12/1964 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
50,000,000 |
|||||||||
|
Employees |
7 |
|||||||||
|
Formation |
Co., Ltd by shares |
|||||||||
|
Bank Details |
Korea Exchange
Bank-Jamsil Branch Kookmin
Bank-Samsung Corporate Finance Branch Shinhan Bank |
|||||||||
|
Corporate
Registered No. |
110111-2282426 |
|||||||||
|
Business
Registered No. |
215-86-11160 |
|||||||||
|
Permit &
Licenses |
Int’l Trade No.: 11927840 |
|||||||||
|
Shareholder
Position |
|
|||||||||
|
Company
History |
07/09/2001
Incorporated as PACHEM MULSAN CO., LTD. 05/20/2005
Changed company name to the present name 11/2005 Awarded
US$ 30 Million Export Top Prize 02/09/2009 Moved to Rm. 803, Semyeong Bldg., 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea from Rm. 802, Semyeong Bldg., 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea 12/17/2012 Moved to the present HQ address from Rm. 803,
Semyeong Bldg., 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea |
|||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Chang Young-Bae(Steve) |
Male |
Korean |
09/16/2002 |
|
Director |
M/S. |
Jung Keum-Rok |
Female |
Korean |
10/15/2002 |
|
Auditor |
Mr. |
Lee Soon-Young |
Male |
Korean |
03/10/2010 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
209,979,000,000 |
23,430,000,000 |
4,714,000,000 |
|
|
2011 |
143,147,000,000 |
8,653,000,000 |
1,510,000,000 |
|
2010 |
102,682,000,000 |
9,587,000,000 |
1,510,000,000 |
|
2009 |
88,185,000,000 |
9,017,000,000 |
2,069,000,000 |
|
2008 |
74,542,000,000 |
8,867,000,000 |
1,617,000,000 |
|
2007 |
71,965,000,000 |
|
|
|
2006 |
48,360,000,000 |
|
|
|
2005 |
28,829,000,000 |
|
|
|
2004 |
44,845,000,000 |
|
|
|
2003 |
20,361,000,000 |
|
|
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) |
200,000,000 |
|
Paid-Up
Capital(KRW) |
50,000,000 |
|
Total Issues
Shares |
10,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
23,430,000,000 |
8,653,000,000 |
9,587,000,000 |
|
Current Assets |
23,100,000,000 |
8,388,000,000 |
9,406,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
330,000,000 |
265,000,000 |
181,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total
Liabilities |
13,413,000,000 |
2,731,000,000 |
4,138,000,000 |
|
Current
Liabilities |
13,407,000,000 |
2,731,000,000 |
4,068,000,000 |
|
Fixed
Liabilities |
6,000,000 |
- |
70,000,000 |
|
Capital Stock |
50,000,000 |
50,000,000 |
50,000,000 |
|
Capital
Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital
Adjustment |
- |
- |
- |
|
Total Equity |
10,017,000,000 |
5,922,000,000 |
5,449,000,000 |
|
Liab. &
Shareholder’s Equity |
23,430,000,000 |
8,653,000,000 |
9,587,000,000 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
209,979,000,000 |
143,147,000,000 |
102,682,000,000 |
|
Cost of Sold
Goods |
195,947,000,000 |
135,100,000,000 |
95,866,000,000 |
|
Gross Profit |
14,032,000,000 |
8,047,000,000 |
6,816,000,000 |
|
Selling &
Admin. Expenses |
8,536,000,000 |
5,916,000,000 |
5,211,000,000 |
|
Operating
Income |
5,496,000,000 |
2,131,000,000 |
1,605,000,000 |
|
Non-Operating
Income |
2,047,000,000 |
2,361,000,000 |
2,328,000,000 |
|
Non-Operating
Expenses |
1,571,000,000 |
2,200,000,000 |
1,937,000,000 |
|
Income Before
Taxes |
5,972,000,000 |
2,292,000,000 |
1,996,000,000 |
|
Income Taxes
Expenses |
1,258,000,000 |
783,000,000 |
486,000,000 |
|
Net Income |
4,714,000,000 |
1,510,000,000 |
1,510,000,000 |
Products,
Technologies, Services Description
|
Main Products
& Services |
PP, HEPE, LLDPE, EVA, PS, EPS, ABS, SBR, BR, PVC |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
CRESCO
CORPORATION LTD. RM. 407,
GWANGHWAMUN OFFICIA, 163, SINMUNNO 1-GA, JONGNO-GU, SEOUL, KOREA TEL:+82-2-3276-3777 FAX:+82-2-3276-3779 SAMMIN
CORPORATION RM. 408,
DAEGWANG BLDG., 7-15, NONHYEON 1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-547-2556 FAX:+82-2-547-2559 JUNGWOO
CORPORATION 2ND FL.,
JEONG-U BLDG., 1552-8, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-523-9661 FAX:+82-2-523-9671 |
Sales by Region
(Activity & Markets)
The Subject
exports to Iran, South Africa, Egypt and Ecuador. And it imports from USA.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.