|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Kospol Co., ltd. |
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|
|
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Registered Office : |
945-2, Daechi 2-dong, Gangnam-gu, Seoul |
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Country : |
South Korea |
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|
|
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
07.09.2001 |
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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 : |
7 |
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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|
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Payment Behaviour : |
No Complaints |
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|
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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 – 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
|
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 |
|
|
|
|
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 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polystyrene resin(13111023) |
|
Sell |
High Density Polyethylene HDPE(13102017) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Polypropylene PP(13102022) |
|
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 |
|
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 |
|||||||||
|
|
|
|
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 |
|
|
|
|
|
|
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.
|
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 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
|
|
8,867,000,000 |
|
Current Assets |
|
|
8,651,000,000 |
|
-Quick Assets |
|
|
8,070,000,000 |
|
-Inventories |
|
|
581,000,000 |
|
Fixed Assets |
|
|
216,000,000 |
|
-Investment |
|
|
86,000,000 |
|
-Tangibles |
|
|
- |
|
-Intangibles |
|
|
- |
|
Total Liabilities |
|
|
5,469,000,000 |
|
Current Liabilities |
|
|
5,406,000,000 |
|
Fixed Liabilities |
|
|
63,000,000 |
|
Capital Stock |
|
|
50,000,000 |
|
Capital Surplus |
|
|
- |
|
Profit Surplus |
|
|
3,348,000,000 |
|
Capital Adjustment |
|
|
- |
|
Total Equity |
|
|
3,398,000,000 |
|
Liab. & Shareholder’s Equity |
|
|
8,867,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
|
|
74,542,000,000 |
|
Cost of Sold Goods |
|
|
65,757,000,000 |
|
Gross Profit |
|
|
8,786,000,000 |
|
Selling & Admin. Expenses |
|
|
5,820,000,000 |
|
Operating Income |
|
|
2,966,000,000 |
|
Non-Operating Income |
|
|
3,035,000,000 |
|
Non-Operating Expenses |
|
|
3,753,000,000 |
|
Income Before Taxes |
|
|
2,248,000,000 |
|
Income Taxes Expenses |
|
|
630,000,000 |
|
Net Income |
|
|
1,617,000,000 |
|
Main Products & Services |
PP, HEPE, LLDPE, EVA, PS, EPS, ABS, SBR, BR, PVC |
|
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 |
The Subject exports
to Iran, South Africa, Egypt and Ecuador. And it imports from USA.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.70.50 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.