MIRA INFORM REPORT

 

 

Report Date :

11.11.2013

 

IDENTIFICATION DETAILS

 

Name :

Daeho International Corp.

 

 

Registered Office :

917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea

 

 

Country :

South Korea

 

 

Date of Incorporation :

10.09.2003

 

 

Com. Reg. No.:

101-81-98219

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Synthetic Rubber and Plastics Materials.

 

 

No. of Employees :

2

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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 Information

 

Company Name

DAEHO INTERNATIONAL CORP.

(Translated from Korean Company Name : DAEHO COMMERCE CORP.)

Registered Address

917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea

Building

Rm. 1611, Hyundai 41 Tower

Zip Code

158-723

Tel

+82-2-2654-3846

Fax

+82-2-2654-3845

E-mail

davidkim@daehocorp.com

Website

--

 

 

Trading Address

Rm. 1611, Hyundai 41 Tower, 917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea

Tel

+82-2-2654-3844

Fax

+82-2-2654-3845

 

 

Type

Export/Import

Industry

Wholesale of Synthetic Rubber and Plastics Materials

  Main Business

Plastic Resin, Chemical, Machinery

 

 

Established (mm/dd/yyyy)

10/09/2003

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Plastic resins(13111059)

 

 

CEO’s

 

Name

Kim Dae-Whee

Address

Suite 101-1010, 202, Mokdongdong-ro, Yangcheon-gu, Seoul, Korea

Date of Birth

08/04/1964

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

2

Formation

Co., Ltd by Shares

Bank Details

Kookmin Bank

Woori Bank (A/C No. : 1081-100-568593)

Corporate Registered No.

110111-2872219

Business Registered No.

101-81-98219

Permit & Licenses

Int’l Trade No.: 45126736

Shareholder Position

N/A

Company History

2002 Established Daeho Corporation(Sole Proprietorship)

10/09/2003 Incorporated as the present name

01/04/2012 Moved to the present HQ address from Rm. 1509-1, Hyundai 41 Tower, 917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Kim Dae-Whee

Male

Korean

10/09/2003

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

5,192,000,000

 

 

2011

3,842,000,000

 

 

2010

4,100,000,000

 

 

2009

 

 

 

2008

 

 

 

2007

2,740,000,000

258,000,000

19,000,000

2006

2,248,000,000

204,000,000

15,000,000

2005

2,281,000,000

320,000,000

14,000,000

2004

 

 

 

2003

 

 

 

The full 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)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issued Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Plastic Resin, Chemical, Machinery

 

 

Trade Partners & Competitors

 

Suppliers

HONAM PETRO CHEMICAL CORPORATION(110111-0193196)

KUMHO PETRO CHEMICAL CO., LTD.(110111-0205975)

LG CHEM LTD(110111-2207995)

Competitors

JUNYOUNG CORPORATION

6TH FL., GREEN POINT BLDG., 655-12, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-547-8595  FAX:+82-2-547-8598

 

NAMDUCK MOOLSAN CO., LTD.

RM. 1014, YEOUIDO DEPT. STORE, 36-2, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3774-0900  FAX:+2-2-3774-0901

 

KOWON CO., LTD.

7TH FL., GOWON BLDG., 20-19, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-578-6181  FAX:+82-2-578-6692

 

 

Sales by Region (Activity & Markets)

 

The Subject deals with the companies in Myanmar, China, Italy and Pakistan.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

-----

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.73

UK Pound

1

Rs.100.92

Euro

1

Rs.84.06

 

 

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%)

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