MIRA INFORM REPORT
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Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ART N CRAFT |
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Registered Office : |
265-8, Hakjang-dong, Sasang-gu, Busan |
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Country : |
South Korea |
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Date of Incorporation : |
01.01.2001 |
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Com. Reg. No.: |
606-32-97793 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale & Retails of Household Furniture |
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No. of Employees : |
Not Available |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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 Information
|
Company Name |
ART N CRAFT (Korean Company Name : “아트앤크래프트”) |
|
Registered Address |
265-8, Hakjang-dong, Sasang-gu, Busan, Korea |
|
Zip Code |
617-844 |
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Tel |
+82-70-7019-7482 |
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Fax |
+82-51-246-7482 |
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E-mail |
youngoh0007@naver.com |
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Website |
www.artncraft.kr |
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Trading
Address |
265-8, Hakjang-dong, Sasang-gu, Busan, Korea |
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Tel |
+82-70-4655-7482 |
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Fax |
+82-51-246-7482 |
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|
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Other
Address-Shop |
4-9, Bupyeong-dong 1-ga, Jung-gu, Busan, Korea |
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Tel |
+82-70-7019-7482 |
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Fax |
+82-51-246-7482 |
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Type |
Export/Import |
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Industry |
Wholesale
& Retails of Household Furniture |
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Main Business |
Vintage Furniture, Industrial Lighting,
Industrial Furniture, Industrial Lighting |
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Sub
Business |
|
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Established (mm/dd/yyyy) |
01/01/2001 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Furniture(56101500) |
CEO’s
|
Name |
Kim Young-Oh |
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Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole
Proprietorship |
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Bank Details |
Kookmin Bank(A/C. No.: 106901-04-091963) |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
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Business Registered No. |
606-32-97793 |
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Permit & Licenses |
N/A |
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Shareholder Position |
The owner has 100% shares. |
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Company History |
01/01/2001 Established as the present name |
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Kim Young-Oh |
Male |
Korean |
01/01/2001 |
Financials
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
Financial Description
|
Authorized Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable
to the Sole Proprietorship |
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Total Issued Shares |
Not
Applicable to the Sole Proprietorship |
Products, Technologies, Services
Description
|
Main Products & Services |
Vintage Furniture, Industrial Lighting, Industrial
Furniture, Industrial Lighting |
Trade Partners & Competitors
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Competitors |
NEOZEN CO., LTD. RM. 8012, SK M-CITY OFFICE TOWER, 869,
JANGHANG 2-DONG, ILSANDONG-GU, GOYANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-906-8971 FAX:+82-31-920-8975 INITIATE FURNITURE TWO CO., LTD. RM. 502, KIU BLDG., 1338-10, SEOCHO 2-DONG,
SEOCHO-GU, SEOUL, KOREA TEL:+82-2-573-3201 FAX:+82-2-573-1203 ILSEONG FURNITURE CO., LTD. 7TH FL., FURNITURE GALLERY, 1-19, MUNHWA
1-DONG, JUNG-GU, DAEJEON, KOREA TEL:+82-42-221-8811 FAX:+82-42-221-4569 |
Sales by Region (Activity &
Markets)
Not Available.
Court Action
Not Available.
News Clipping
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.86 |
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 |
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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 |
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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.