|
Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
JC WORLD |
|
|
|
|
Registered Office : |
1661-10, Bongcheon-dong, Gwanak-gu, Seoul,
Korea, 1F, Samjung Bldg., Zip Code 151-050 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
01.07.2002 |
|
|
|
|
Com. Reg. No.: |
119-07-94378 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesaler of Processed Food |
|
|
|
|
No. of Employees : |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
JC WORLD (Korean Company Name : “제이씨월드”) |
|
Registered Address |
1661-10,
Bongcheon-dong, Gwanak-gu, Seoul, Korea |
|
Building |
1F, Samjung Bldg. |
|
Zip Code |
151-050 |
|
Tel |
+82-2-875-4144 |
|
Fax |
+82-2-887-3383 |
|
E-mail |
|
|
Trading Address |
1F, Samjung Bldg., 1661-10, Bongcheon-dong, Gwanak-gu, Seoul, Korea |
|
Tel |
+82-2-881-0690 |
|
Fax |
+82-2-887-3383 |
|
Type |
Export/Import |
|
Industry |
Wholesales of Processed Food |
|
Main Business |
Food Additives |
|
Established (mm/dd/yyyy) |
07/01/2002 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Food or drug additives(12164500) |
|
Sell |
Flavours or extracts(12164502) |
|
Name |
Youn Soon-Ok |
|
Title |
Owner |
|
Sex |
Female |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Korea Exchange Bank-Guro Digital Branch |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
119-07-94378 |
|
Permit & Licenses |
Int’l Trade No.: 45030051 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
07/01/2002 Established as the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Youn Soon-Ok |
Male |
Korean |
07/01/2002 |
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
|
Main Products & Services |
Food Additives |
|
Competitors |
TAEWON FOOD
INDUSTRY CO., LTD. 1125-2,
SINGIL-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-7912 FAX:+82-31-491-7909 OKCHEON FOOD
CO., LTD. 321-1, SINCHON-RI,
GYOHA-EUP, PAJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-943-0451 FAX:+82-31-943-0433 YUJUNG FOOD
CO., LTD. 15B-14L,
450-1, MONGNAE-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-8062 FAX:+82-31-491-8064 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SAMJUNG FLAVOR CO., LTD.(1545110-010572) SAMJEONG BLDG., 1661-10, NAKSEONGDAE-DONG,
GWANAK-GU, SEOUL, KOREA TEL:+82-43-873-4121 FAX:+82-43-872-3383 SAMJUNG CO., LTD.(110111-4596388) SAMJEONG BLDG., 1661-10, NAKSEONGDAE-DONG,
GWANAK-GU, SEOUL, KOREA TEL:+82-2-881-0661 FAX:+82-2-881-0699 |
(Activity & Markets)
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
|
UK Pound |
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.