|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
C HO CORPORATION |
|
|
|
|
Registered Office : |
1573-14, Songjeong-dong, Gangseo-gu, Busan,
Korea 618-818 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
31.03.2010 |
|
|
|
|
Com. Reg. No.: |
603-81-74431 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesales of Textiles, Artificial Leather |
|
|
|
|
No. of Employees : |
14 |
RATING & COMMENTS
|
MIRA’s Rating : |
|
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 |
C HO CORPORATION |
|
Registered Address |
1573-14, Songjeong-dong, Gangseo-gu, Busan,
Korea |
|
Zip Code |
618-818 |
|
Tel |
+82-51-711-5046~7 |
|
Fax |
+82-51-505-1047 |
|
E-mail |
cottage1@naver.com |
|
Website |
www.c-hocorp.com |
|
Trading Address |
1573-14, Songjeong-dong, Gangseo-gu, Busan,
Korea (New Address System : 20, Noksansandan
261-ro 13beon-gil, Gangseo-gu, Busan, Korea) |
|
Tel |
+82-51-944-5048 |
|
Fax |
+82-51-980-7967 |
|
Type |
Export |
|
Industry |
Wholesales of Textiles, Artificial Leather |
|
Main Business |
Synthetic Leather and Fabric, Velvet |
|
Established (mm/dd/yyyy) |
03/31/2010 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Synthetic fabrics(11161800) |
|
Name |
Lim Dong-Kyu |
|
Address |
Suite 121-1401, 80, Sajik-ro, Dongnae-gu,
Busan, Korea |
|
Date of Birth |
01/20/1970 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
365,000,000 |
|
Employees |
14 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
1801110-709874 |
|
Business Registered No. |
603-81-74431 |
|
Permit & Licenses |
06/2012 ISO 9001 |
|
Shareholder Position |
N/A |
|
Company History |
12/11/2008 Established as C.HO TEX(Sole
Proprietorship) 03/31/2010 Incorporated as the present name 09/07/2010 Designated as a Venture Business 12/2010 Awarded US$ 5 Million Export Top Prize 07/14/2011 Moved to the present HQ address from 53-18, Sajik-dong,
Jongno-gu, Seoul, Korea 05/17/2012 Increased the authorized shares to 2,000,000 shares from
240,000 shares 04/28/2013 Designated as an INNO-BIZ Company 06/06/2013 Increased capital to 365,000,000 KRW from 270,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lim Dong-Kyu |
Male |
Korean |
03/31/2013 |
|
Director |
M/S. |
Jung Eun-Sook |
Female |
Korean |
03/31/2013 |
|
Auditor |
M/S. |
Choi Soon-Ja |
Female |
Korean |
03/31/2013 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
365,000,000 |
|
Total Issued Shares |
730,000 |
|
Main Products & Services |
Span Velvet, Tricot Velvet, Knit Velvet, Woven
Suede, Micro Fiber Suede, Knit Micro Suede, Synthetic Leather, Micro Fiber
Leather, Jacquard, Dobby, C/Knit Fabric, Circular Knit Fabric, Lace Fabric,
Woven, Moquette, Glass Fiber, Velvet, Chenille Jacquard, Spun Lace, Spun Bond |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
WOONGCHUN TEXTECH CO., LTD. RM. 401, NAMJEONG CITY PLAZA 2-CHA, 778-2,
JANGHANG 2-DONG, ILSANDONG-GU, GOYANG-SI, GYEONGGI-DO, KOREA TEL:+82-2-333-8164~5 FAX:+82-2-333-6134 KYUNG SUN TEXTILE CO., LTD. 118, DAEHWA-DONG, DAEDEOK-GU, DAEJEON,
KOREA TEL:+82-42-634-2865~6 FAX:+82-42-624-2865 DONG SEUNG CO., LTD. 118-1, BUSONG-RI, JIKSAN-EUP, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-583-2923 FAX:+82-41-583-2925 |
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject imports
from China, Vietnam and India.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
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 |
|
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.