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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHON WOUNG
TEXTILE CO., LTD. |
|
|
|
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Registered Office : |
Rm. 1012, Seogyo Tower Bldg. 353-1, Seogyo-dong, Mapo-gu, Seoul, Korea 121-760 |
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Country : |
South Korea |
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Date of Incorporation : |
23.08.2012 |
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|
|
Legal Form : |
Co., Ltd by Shares |
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|
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Line of Business : |
Wholesale of Spun Fibers and Yarns |
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|
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – 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
|
Company
Name |
CHON WOUNG
TEXTILE CO., LTD. (Korean Company
Name : “천웅섬유(주)”) |
|
Registered Address |
353-1, Seogyo-dong, Mapo-gu, Seoul, Korea |
|
Building |
Rm. 1012, Seogyo Tower Bldg. |
|
Zip Code |
121-760 |
|
Tel |
+82-2-3142-0952 |
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Fax |
+82-2-3142-0953 |
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Trading Address |
Rm. 1012, Seogyo Tower Bldg., 353-1, Seogyo-dong,
Mapo-gu, Seoul, Korea (New Address System : 133, Yanghwa-ro,
Mapo-gu, Seoul, Korea) |
|
Tel |
+82-2-3142-0952 |
|
Fax |
+82-2-3142-0953 |
|
Type |
Export |
|
Industry |
Wholesale of Spun Fibers and Yarns |
|
Main Business |
Spandex Yarn, Polyester Yarn |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/23/2012 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Synthetic yarn(11151709) |
|
Sell |
Yarns(11151700) |
|
Name |
Kim Duk-Soo |
|
Address |
51-5, Geumyeonghwa-gil, Paju-si,
Gyeonggi-do, Korea |
|
Date of Birth |
11/04/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
50,000,000 |
|
Employees |
3 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
110111-4944181 |
|
Business Registered No. |
105-87-***** (The full numbers are kept by
the National Tax Service confidentially.) Because the subject’s full Business Registered
No., for checking through the National Tax Service whether the subject is
still existing or not, is not available, so we cannot confirm if the subject
exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
09/11/2001 Established as CHON WOUNG TEXTILE CO.(Sole Proprietorship) 08/23/2012 Incorporated as the present name |
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Duk-Soo |
Male |
Korean |
08/23/2012 |
|
Auditor |
M/S. |
Lee Eun-Sook |
Female |
Korean |
08/23/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
10,000 |
|
Main Products & Services |
Spandex Yarn, Polyester Yarn |
|
Competitors |
N & T GLOBAL INC. RM. 2109, RENAISSNACE TOWER BLDG., 456,
GONGDEOK-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-704-6401 FAX:+82-2-704-6403 GLOBAL KOREA TRADING CO., LTD. RM. 304, SEOKTOP OFFICETEL, 1588-7, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3472-3751 FAX:+82-2-3472-3752 GATE TRADING CO., LTD. RM. 302-1, SEONGU BLDG., YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-556-3153 FAX:+82-2-555-7633 |
(Activity &
Markets)
The Subject exports
to China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.