|
Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
JIN SUNG TEXTILES CO. |
|
|
|
|
Registered Office : |
2105,
Daesin-dong, Jung-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.11.1990 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale & Retails of Fibers and Yarns and Textiles |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
|
Company Name |
JIN SUNG TEXTILES CO. (Korean Company Name : “진성상사”) |
|
Registered
Address |
2105,
Daesin-dong, Jung-gu, Daegu, Korea |
|
Building |
Rm.276, Seomun
Market |
|
Zip Code |
700-320 |
|
Tel |
+82-53-253-9856 |
|
Fax |
+82-53-558-6132 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm.276, Seomun Market, 25, Keunjang-ro 26-gil, Jung-gu, Daegu, Korea (Old Address System : Rm.276, Seomun Market, 2105, Daesin-dong, Jung-gu, Daegu, Korea) |
|
Tel |
+82-53-253-9856 |
|
Fax |
+82-53-558-6132 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesale & Retails of Fibers and Yarns and Textiles |
|
Main Business |
Textiles,
Cotton fabric, Polyester |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
11/01/1990 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Silk fabrics(11161500) |
|
Sell |
Cotton fabrics(11161700) |
|
Sell |
Synthetic fabrics(11161800) |
CEO’s
|
Name |
Ham Chun-Sig |
|
Address |
|
|
Date of Birth |
|
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable
to the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate
Registered No. |
Not Applicable
to the Sole Proprietorship |
|
Business
Registered No. |
N/A. (The numbers
are kept by the National Tax Service confidentially.) Because the
subject’s full Business Registered No., for checking through the National Tax
Service whether the subject is still existing or not, is not available, so we
cannot confirm if the subject exist or not legally.) |
|
Permit &
Licenses |
N/A |
|
Shareholder
Position |
The owner has
100% shares. |
|
Company
History |
11/01/1990 |
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Ham Chun-Sig |
Male |
Korean |
11/01/1990 |
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) |
Not Applicable
to the Sole Proprietorship |
|
Paid-Up
Capital(KRW) |
Not Applicable
to the Sole Proprietorship |
|
Total Issued
Shares |
Not Applicable
to the Sole Proprietorship |
Products,
Technologies, Services Description
|
Main Products
& Services |
Textiles |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
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 |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
Not Available.
-
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
|
|
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.