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Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
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Name : |
C HO CORPORATION |
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Formerly Known as: |
C.HO TEX (Sole Proprietorship) |
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Registered Office : |
20, Noksansandan 261-ro 13beon-gil, Gangseo-gu, Busan, Korea, Zip Code 618-818 |
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Country : |
South Korea |
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Date of Incorporation : |
31.03.2010 |
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Com. Reg. No.: |
603-81-74431 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesaler of Textiles & Artificial Leather Subject product range includes Span Velvet,
Tricot Velvet, Knit Velvet, Woven Suede, Micro Fiber Suede, Knit Micro Suede,
Synthetic Leather, Micro Fiber Leather, Jacquard, Dobby, C/Knit Fabric,
Circular Knit Fabric, Lace Fabric, Woven, Moquette,
Glass Fiber, Velvet, Chenille Jacquard, Spun Lace & Spun Bond |
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No. of Employees |
14 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
South Korea |
A1 |
A1 |
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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 |
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 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration
in 2014 is likely to face the challenge 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 about half of GDP.
|
Source
: CIA |
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Company
Name |
C HO CORPORATION (Korean Company Name : “(주)시호코퍼레이션”) |
|
Registered Address |
20, Noksansandan
261-ro 13beon-gil, Gangseo-gu, Busan,
Korea |
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Zip Code |
618-818 |
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Tel |
+82-51-711-5046~7 |
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Fax |
+82-51-505-1047 |
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E-mail |
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Website |
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Trading
Address |
20, Noksansandan 261-ro 13beon-gil, Gangseo-gu,
Busan, Korea (Old Address System : 1573-14, Songjeong-dong, Gangseo-gu, Busan, Korea |
|
Tel |
+82-51-944-5048 |
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Fax |
+82-51-980-7967 |
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Type |
Export |
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Industry |
Wholesaler of Textiles & Artificial
Leather |
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Main Business |
Synthetic
Leather and Fabric, Velvet |
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Established (mm/dd/yyyy) |
03/31/2010 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Synthetic
fabrics(11161800) |
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Name |
Lim Dong-Kyu |
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Address |
Suite 121-1401, 80, Sajik-ro,
Dongnae-gu, Busan, Korea |
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Date of Birth |
01/20/1970 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
365,000,000 |
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Employees |
14 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
180111-0709874 |
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Business Registered No. |
603-81-74431 |
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Permit & Licenses |
06/2012
ISO 9001 |
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Shareholder Position |
N/A |
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Company History |
12/11/2008 Established as C.HO TEX(Sole
Proprietorship) 03/31/2010 Incorporated as the present name 09/07/2010 Designated as a Venture Business 12/2010 Awarded US$ 5 Million Export Top Prize 07/14/2011 Moved to the present HQ address from 53-18, Sajik-dong, Jongno-gu, Seoul,
Korea 05/17/2012 Increased the authorized shares to 2,000,000 shares from
240,000 shares 04/28/2013 Designated as an INNO-BIZ Company 06/06/2013
Increased capital to 365,000,000 KRW from 270,000,000 KRW |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Lim Dong-Kyu |
Male |
Korean |
03/31/2013 |
|
Director |
M/S. |
Jung Eun-Sook |
Female |
Korean |
03/31/2013 |
|
Auditor |
M/S. |
Choi Soon-Ja |
Female |
Korean |
03/31/2013 |
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Authorized Capital(KRW) |
1,000,000,000 |
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Paid-Up Capital(KRW) |
365,000,000 |
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Total Issued Shares |
730,000 |
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Main Products & Services |
Span Velvet, Tricot Velvet, Knit Velvet, Woven
Suede, Micro Fiber Suede, Knit Micro Suede, Synthetic Leather, Micro Fiber
Leather, Jacquard, Dobby, C/Knit Fabric, Circular Knit Fabric, Lace Fabric,
Woven, Moquette, Glass Fiber, Velvet, Chenille
Jacquard, Spun Lace & Spun Bond |
|
Competitors |
WOONGCHUN TEXTECH CO., LTD. RM. 401, NAMJEONG CITY PLAZA 2-CHA, 778-2,
JANGHANG 2-DONG, ILSANDONG-GU, GOYANG-SI, GYEONGGI-DO, KOREA TEL:+82-2-333-8164~5 FAX:+82-2-333-6134 KYUNG SUN TEXTILE CO., LTD. 118, DAEHWA-DONG, DAEDEOK-GU, DAEJEON,
KOREA TEL:+82-42-634-2865~6 FAX:+82-42-624-2865 DONG SEUNG CO., LTD. 118-1, BUSONG-RI, JIKSAN-EUP, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-583-2923 FAX:+82-41-583-2925 |
(Activity & Markets)
The Subject imports
from China, Vietnam and India.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
Sub |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.