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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
JUNG HAN CORPORATION |
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Registered Office : |
180, Songpa-daero, Songpa-gu, |
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Country : |
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Date of Incorporation : |
23.05.1990 |
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Com. Reg. No.: |
208-81-10829 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Export of Weaving of Man-Made Fiber Fabrics |
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No. of Employees : |
9 |
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 |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
KOREA (SOUTH) - 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. South 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. South 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-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,
dominance of large conglomerates (chaebols), and heavy reliance on exports,
which comprise about half of GDP
|
Source
: CIA |
|
Company
Name |
JUNG HAN CORPORATION (Korean Company Name : “정한통상(주)”) |
|
Registered Address |
180, Songpa-daero,
Songpa-gu, Seoul, Korea |
|
Building |
2nd Fl., Jeong-han Bldg. |
|
Zip Code |
138-826 |
|
Tel |
+82-2-2088-8000 |
|
Fax |
+82-2-2088-8800 |
|
E-mail |
|
|
Trading Address |
2nd Fl., Jeong-han Bldg.,180, Songpa-daero, Songpa-gu, Seoul, Korea (Old Address System : 2nd Fl., Jeong-han
Bldg., 55-6, Munjeong 1-dong, Songpa-gu, Seoul, Korea) |
|
Tel |
+82-2-2088-8000 |
|
Fax |
+82-2-2088-8800 |
|
Type |
Export |
|
Industry |
Weaving of Man-Made Fiber Fabrics |
|
Main Business |
Polyester Fabrics |
|
Established (mm/dd/yyyy) |
05/23/1990 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Synthetic fabrics(11161800) |
CEO’s
|
Name |
Kim Han-Joo |
|
Address |
Suite 87-706, 201, Apgujeong-ro,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
01/09/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
200,000,000 |
|
Employees |
9 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Industrial Bank of Korea-Jongno 6 ga Branch |
|
Corporate Registered No. |
110111-0700208 |
|
Business Registered No. |
208-81-10829 |
|
Permit & Licenses |
03/2006 ISO 14001 Int’l Trade No.: 534820 |
|
Shareholder Position |
N/A |
|
Company History |
05/23/1990 Incorporated as the present name 10/1994 Awarded US$ 10 Million Export Top
Prize 12/27/2001 Increased capital to 200,000,000
KRW from 50,000,000 KRW 01/28/2005 Moved to the present HQ address from
167, Hyoje-dong, Jongno-gu, Seoul, Korea |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Han-Joo |
Male |
Korean |
05/23/1993 |
|
Director |
Mr. |
Kim Han-Sung |
Male |
Korean |
05/23/1993 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
|
|
|
|
2011 |
8,892,000,000 |
3,148,000,000 |
101,000,000 |
|
2010 |
10,220,000,000 |
3,056,000,000 |
139,000,000 |
|
2009 |
8,532,000,000 |
2,647,000,000 |
29,000,000 |
|
2008 |
|
|
|
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) |
200,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Main Products & Services |
Polyester Fabrics |
|
Competitors |
DO BEST CO., LTD. 105-112, GONGDEOK-DONG, MAPO-GU, SEOUL,
KOREA TEL:+82-2-3271-3800 FAX:+82-2-3271-3899 DREAM SEEKERS INC. RM. 2410, MASTERS TOWER BLDG., 553,
DOHWA-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3275-5111~2 FAX:+82-2-3275-5113 HANWOO CORPORATION 4TH FL., 322-21, HAENGDANG 2-DONG,
SEONGDONG-GU, SEOUL, KOREA TEL:+82-2-2299-9100~8 FAX:+82-2-2299-9109 |
The Subject exports
to USA and Europe.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.100.23 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.