|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOREA AGRICULTURE & FISHERY CORPORATION |
|
|
|
|
Registered Office : |
68, Cheonjung-ro, Gangdong-gu, Seoul, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Date of Incorporation : |
07.09.1993 |
|
|
|
|
Com. Reg. No.: |
212-81-25506 |
|
|
|
|
Legal Form : |
Shinhan Bank |
|
|
|
|
Line of Business : |
Wholesales of Agricultural Raw Materials and Live Animals |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Liquidated |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
KOREA (SOUTH) - ECONOMIC OVERVIEW
South Korea over the past
four decades has demonstrated incr edible
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
|
Company Name |
KAFCO (English Company Name : KOREA AGRICULTURE & FISHERY CORPORATION) |
|
Registered Address |
68, Cheonjung-ro, Gangdong-gu, Seoul, Korea |
|
Zip Code |
134-020 |
|
Tel |
+82-2-486-6907~8 |
|
Fax |
+82-2-479-2323 |
|
E-mail |
kafco@kafco.co.kr |
|
Website |
www.kafco.co.kr |
|
Trading Address |
68, Cheonjung-ro, Gangdong-gu, Seoul, Korea (Old Address System : 363-32 Chonho-Dong,
Kangdong-Gu, Seoul, Korea) |
|
Tel |
+82-2-486-6907~8 |
|
Fax |
+82-2-479-2323 |
|
Type |
Export/Import |
|
Industry |
Wholesales of Agricultural Raw Materials and
Live Animals |
|
Main Business |
Sesame Seed, Perilla Seed, Corn |
|
Established (mm/dd/yyyy) |
09/07/1993 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cereals(50221100) |
CEO’s
|
Name |
Park Wan-Sur |
|
Address |
363-32 Chonho-Dong, Kangdong-Gu, Seoul,
Korea |
|
Date of Birth |
02/21/1944 |
|
Title |
Liquidator |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
100,000,000 |
|
Employees |
N/A |
|
Formation |
Shinhan Bank |
|
Bank Details |
Kookmin Bank |
|
Corporate Registered No. |
110111-0970164 |
|
Business Registered No. |
212-81-25506 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
09/07/1993 Incorporated as the present name 09/22/2004 Increased capital to 100,000,000
KRW from 50,000,000 KRW 01/13/2009 The Subject has been
disorganized. 03/31/2009 The Subject has been closed
according to the National Tax Services. 05/12/2009 The Subject has been Liquidated. |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Liquidator |
Mr. |
Park Wan-Sur |
Male |
Korean |
01/13/2009 |
|
Auditor |
Mr. |
Jeon Il-Ku |
Male |
Korean |
09/21/2004 |
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) |
100,000,000 |
|
Total Issued Shares |
10,000 |
Products, Technologies,
Services Description
|
Main Products & Services |
Sesame Seed, Perilla Seed, Corn |
Trade Partners
& Competitors
|
Competitors |
DAE GU AGRICULTURAL PRODUCTS CO., LTD. RM.904, NASEONG BLDG., 176, INJUNG-RO,
JUNG-GU, INCHEON, KOREA TEL:+82-32-772-0714 FAX:+82-32-772-0715 WOORI NONGSAN 433-5, YONGGWAN-DONG, CHUNGJU-SI,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-857-3301 FAX:+82-43-857-3302 KOREA RICE CO., LTD. 1598, HWAMOK-DONG, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-323-4085 FAX:+82-55-323-4088 |
Sales by Region
(Activity & Markets)
The Subject deals with USA, Brazil, Nigeria, China and India.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.01 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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.