MIRA INFORM REPORT

 

 

Report Date :

31.08.2014

 

IDENTIFICATION DETAILS

 

Name :

JASON TRAVEL SERVICE CO., LTD.

 

 

Registered Office :

129, Bongeunsa-ro, Gangnam-gu, Seoul, Korea

 

 

Country :

South Korea

 

 

Date of Incorporation :

23.06.1994

 

 

Com. Reg. No.:

211-86-32052

 

 

Legal Form :

Co., Ltd by Shares           

 

 

Line of Business :

General and Foreign Travel Agencies

 

 

No of Employees :

10

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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

 

 

Basic Information

 

Company Name

JASON TRAVEL SERVICE CO., LTD.

(Trade Name : JTS)

(Korean Company Name : “(주)제이슨관광”)

Registered Address

129, Bongeunsa-ro, Gangnam-gu, Seoul, Korea

Building

A-1807, Geopyeong Town

Zip Code

135-726

Tel

+82-2-515-6897

Fax

+82-2-514-3602

E-mail

info@jasontravel.co.kr

Website

www.jasontravel.co.kr

Trading Address

A-1807, Geopyeong Town, 129, Bongeunsa-ro, Gangnam-gu, Seoul, Korea

(Old Address System : A-1807, Geopyeong Town, 203-1, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea)

Tel

+82-2-515-6897

Fax

+82-2-514-3602

Type

Services

Industry

General and Foreign Travel Agencies

  Main Business

Overseas Travel Agencies, Ticket Selling Service

Established (mm/dd/yyyy)

06/23/1994

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Travel agencies(90121502)

Sell

Tour arrangement services(90121501)

Sell

Visa or auxiliary document services(90121602)

 

 

CEO’s

 

Name

Seo Hyun-Seok

Address

Suite 205, 14, Sinbanpo-ro 3-gil, Seocho-gu, Seoul, Korea

Date of Birth

07/13/1970

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

200,000,000

Employees

10

Formation

Co., Ltd by Shares

Bank Details

Hana Bank-Nonhyun Dong Branch (A/C No.: 560-810004-08104)

Kookmin Bank(A/C No.: 640637-04-002721)

 

Barclays Bank-Nonhyun Dong, Korea

Corporate Registered No.

110111-1049752

Business Registered No.

211-86-32052

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

06/23/1994 Incorporated as the present name

08/28/1996 Moved to the present HQ address from 277-21, Nonhyeon-dong, Gangnam-gu, Seoul, Korea

10/23/2007 Increased capital to 200,000,000 KRW from 100,000,000 KRW

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Seo Hyun-Seok

Male

Korean

09/30/2012

Director

M/S.

Seo Eun-Sook

Female

Korean

03/27/2014

Auditor

Mr.

Seo Woo-Seok

Male

Korean

03/27/2014

 

 

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)

200,000,000

Paid-Up Capital(KRW)

200,000,000

Total Issued Shares

40,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Overseas Travel Agencies

 

 

Trade Partners & Competitors

 

Competitors

HANA TOUR SERVICE INC.

1, GONGPYEONG-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2127-1000  FAX:+82-2-2127-1993

 

MODE TOUR NETWORK CO., LTD.

RM. 501, BAEKNAM BLDG., 188-3, EULJIRO 1-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-728-8000  FAX:+82-2-2021-7803

 

TOP TRAVEL SERVICE CO., LTD.

5TH FL., YMCA BLDG., 9, JONGNO 2-GA, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-723-6077  FAX:+82-2-720-9626

Sales by Region

(Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

News Clipping

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.47

UK Pound

1

Rs.100.35

Euro

1

Rs.79.86

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.