MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

DESIGN CLUB CO., LTD.

 

 

Registered Office :

310-14, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

24.06.2004

 

 

Com. Reg. No.:

206-81-91748

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesales and retails of leather products.

 

 

No. of Employees :

04

 

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 :

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

 

Basic Information

 

Basic

 

Company Name

DESIGN CLUB CO., LTD.

(Korean Company Name : “(주)디자인클럽”)

Registered Address

310-14, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

Building

 

Zip Code

133-120

Tel

+82-2-467-4682

Fax

+82-2-467-4684

E-mail

design56@naver.com

Website

 

Trading Address

310-14, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

(New Address System : 42, Yeonmujang-gil, Seongdong-gu, Seoul, Korea)

Tel

+82-2-467-4682

Fax

+82-2-467-4684

Type

Export/Import

Industry

Wholesales and Retails of Leather Products

  Main Business

Leather, Handbags, Accessories

  Sub Business

 

Established (mm/dd/yyyy)

06/24/2004

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Handbags or purses(53121601)

Sell

Belts or suspenders(53102501)

Sell

Leathers(11162300)

 

CEO’s

 

Name

Park Dong-Sik

Address

Suite 1312-603, 327, Sinjeong-dong, Yangcheon-gu, Seoul, Korea

Date of Birth

08/20/1956

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

100,000,000

Employees

5

Formation

Co., Ltd by Shares

Bank Details

Korea Exchange Bank-Sungsu Station Branch

Corporate Registered No.

1101113-036806

Business Registered No.

206-81-91748

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

05/01/2001 Established as DESIGN CLUB CO.(Sole Proprietorship)

06/24/2004 Incorporated as the present name

11/23/2007 Moved to the present HQ address from 315-54, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Park Dong-Sik

Male

Korean

05/20/2011

Director

Mr.

Park Taik-Soo

Male

Korean

05/20/2011

Auditor

M/S.

Baik In-Hwa

Female

Korean

11/23/2007

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

 

 

 

2007

 

 

 

2006

1,539,000,000

624,000,000

41,000,000

2005

1,860,000,000

311,000,000

45,000,000

2004

1,048,000,000

194,000,000

1,000,000

2003

 

 

 

The latest & 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)

400,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issued Shares

20,000

 

Products, Technologies, Services Description

 

Main Products & Services

Leather, Handbags, Accessories

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

SHINWON CORPORATION

SINWON BLDG., 532, DOHWA-DONG, MAPO-GU, SEOUL, KOREA

TEL:+82-2-3274-5000  FAX:+82-2-3274-5611

 

SUNGJOO D & D INC.

5TH FL., MCM HAUS, 78-12, CHEONGDAM-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-2194-6700  FAX:+82-2-2269-7742

 

SSAMZIE CO., LTD.

177-14, BANGI 2-DONG, SONGPA-GU, SEOUL, KOREA

TEL:+82-2-422-8111  FAX:+82-2-422-8351

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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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