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Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
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Name : |
JJ CORPORATION |
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Registered Office : |
233-6, Jeonpo-dong, Busanjin-gu, Busan, Korea 614-866 |
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Country : |
South Korea |
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Date of Incorporation : |
26.04.2004 |
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Com. Reg. No.: |
605-81-65845 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Other Agricultural Raw Materials and Live Animals |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
JJ CORPORATION |
|
Registered
Address |
233-6,
Jeonpo-dong, Busanjin-gu, Busan, Korea |
|
Zip
Code |
614-866 |
|
Tel |
+82-51-802-6331 |
|
Fax |
+82-51-802-6303 |
|
Trading
Address |
233-6,
Jeonpo-dong, Busanjin-gu, Busan, Korea |
|
Tel |
+82-51-802-6331 |
|
Fax |
+82-51-802-6303 |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Other Agricultural Raw Materials and Live Animals |
|
Main Business |
Shoes
for Leather Products, Natural Cowhide, Leather |
|
Established
(mm/dd/yyyy) |
04/26/2004 |
The Subject Company occupies the premises of registered HQ address by
leasing base.
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Fabrics
and leather production(73141700) |
|
Name |
Kim
Jung-Hoon |
|
Address |
Suite
101-2029, 1200, Jaesong-dong, Haeundae-gu, Busan, Korea |
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Date
of Birth |
01/19/1972 |
|
Title |
President
& CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital
(KRW) |
50,000,000 |
|
Employees |
2 |
|
Formation |
Co.,
Ltd by shares |
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Bank
Details |
N/A |
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Corporate
Registered No. |
180111-0483030 |
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Business
Registered No. |
605-81-65845 |
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Permit
& Licenses |
N/A |
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Shareholder
Position |
N/A |
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Company
History |
04/26/2004
Incorporated as the present name |
|
|
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Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim
Jung-Hoon |
Male |
Korean |
04/26/2004 |
|
Director |
Mr. |
Kim
Wook-Sung |
Male |
Korean |
04/26/2004 |
|
Auditor |
Mr. |
Song
Jae-Yong |
Male |
Korean |
04/26/2004 |
Financials
|
Year
/ Unit : KRW |
Sales |
Assets |
Net
Income |
|
|
|
|
|
|
2010 |
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2009 |
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2008 |
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2007 |
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2006 |
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2005 |
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2004 |
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The financials are not available, and the Subject Company does not have
any obligations to release its financials to the public.
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Authorized
Capital(KRW) |
200,000,000 |
|
Paid-Up
Capital(KRW) |
50,000,000 |
|
Total
Issued Shares |
5,000 |
|
Main
Products & Services |
Shoes
for Leather Products, Natural Cowhide |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
|
Suppliers |
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|
Customers |
|
|
Competitors |
SHINDO LEATHER CO., LTD. 810-2, DEOKDO-RI, GWANGJEOK-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-871-8185~6 FAX:+82-31-871-8187 SEWHA LEATHER CO., LTD. 587-8, JAJAK-DONG, POCHEON-SI, GYEONGGI-DO, KOREA TEL:+82-31-536-6458
FAX:+82-31-536-6459 GALAXY LEATHER CO., LTD. RM. 5, 5TH FL., 1-DONG, DADAEPO HYUNDAI APT. COMPLEX, 120-1, DADAE
2-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-262-9194 FAX:+82-51-262-9195 |
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.