|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ICOOP UNION |
|
|
|
|
Registered Office : |
149, Gongdan-ro, Gunpo-si, Gyeonggi-do,
Korea |
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|
|
|
Country : |
Korea (South) |
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|
|
|
Date of Incorporation : |
14.07.2000 |
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|
|
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Com. Reg. No.: |
130-82-12050 |
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|
|
|
Legal Form : |
Non-Profitable Cooperative |
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|
|
|
Line of Business : |
Wholesales for Agricultural Products and
Meat Products |
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|
|
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No. of Employees : |
37 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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. 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 |
Basic
|
Company Name |
ICOOP UNION |
|
Registered Address |
149, Gongdan-ro, Gunpo-si, Gyeonggi-do,
Korea (Old Address System : 14-1, Dang-dong,
Gunpo-si, Gyeonggi-do, Korea) |
|
Building |
Rm.401, I-Valley Gunpo |
|
Zip Code |
435-010 |
|
Tel |
+82-1577-6009 +82-31-460-7809 |
|
Fax |
+82-31-460-7810 |
|
E-mail |
webmaster@icoop.or.kr |
|
Website |
www.icoop.or.kr |
|
Trading Address |
2nd Fl., C-2-dong, Korea Integrated Freight Terminal, 82,
Beonyeong-ro, Gunpo-si, Gyeonggi-do, Korea (Old Address System : 2nd Fl., C-2-dong, Korea Integrated Freight
Terminal, 451, Bugok-dong, Gunpo-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-460-7849 |
|
Fax |
+82-31-460-7815 |
|
Other Address |
330-2, Daeam-ri, Geumseong-myeon, Geumsan-gun, Chungcheongnam-do,
Korea |
|
Tel |
+82-41-754-7840 |
|
Fax |
+82-41-754-7822 |
|
Type |
Services |
|
Industry |
Services for Memberships Wholesales for Agricultural Products and
Meat Products |
|
Main Business |
Education, Training, Support and
Coordination Services for the members, Facilities Operations, Market Place
Operations, Financing Services |
|
Established (mm/dd/yyyy) |
07/14/2000 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Services for Memberships |
CEO’s
|
Name |
Shin Bok-Soo |
|
Address |
22-9, Ganghwanam-ro 518beon-gil,
Yangdo-myeon, Ganghwa-gun, Incheon, Korea |
|
Date of Birth |
11/25/1958 |
|
Title |
President |
|
Sex |
Female |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to this Entity |
|
Employees |
37 |
|
Formation |
Non-Profitable Cooperative |
|
Bank Details |
N/A |
|
Corporate Registered No. |
121171-0003560 |
|
Business Registered No. |
130-82-12050 (Central Logistics : 134-82-04931) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
Memberships |
|
Company History |
07/14/2000 Incorporated as ICOOP UNION, “(사)아이쿱생활연대” 05/19/2008 Changed Korean name to “(사)아이쿱생협연대” 09/16/2011 changed Korean name to the
present name |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President |
M/S. |
Shin Bok-Soo |
Female |
Korean |
03/23/2008 |
|
Director |
Mr. |
Kim Kyun-Sub |
Male |
Korean |
03/23/2006 |
|
Director |
Mr. |
Kang Seok-Ho |
Male |
Korean |
03/23/2006 |
|
Director |
M/S. |
Choi Kyung-Ae |
Female |
Korean |
03/23/2008 |
|
Director |
Mr. |
Kwon Young-Joon |
Male |
Korean |
03/23/2008 |
|
Director |
M/S. |
Kim Dong-Hee |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Kim Ran-Hee |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Kim Mi-Sun |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Kim Soon-Hee |
Female |
Korean |
03/23/2012 |
|
Director |
Mr. |
Park Seok-Won |
Male |
Korean |
03/23/2012 |
|
Director |
M/S. |
Bae Sook-Sun |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Byun Ji-Sook |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Lee Sun-Kyung |
Female |
Korean |
03/23/2012 |
|
Director |
M/S. |
Kwon Mi-Ok |
Female |
Korean |
03/22/2013 |
|
Director |
M/S. |
Lee Myung-Sook |
Female |
Korean |
03/22/2013 |
|
Director |
M/S. |
Choi Mi-Ok |
Female |
Korean |
03/22/2013 |
|
Auditor |
M/S. |
Min Kyung-Ja |
Female |
Korean |
03/23/2012 |
|
Auditor |
M/S. |
Cho Hyang-Sook |
Female |
Korean |
03/23/2012 |
|
Auditor |
M/S. |
Choi Kong-Sook |
Female |
Korean |
03/23/2012 |
Financials
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) |
Not Applicable to this Entity |
|
Paid-Up Capital(KRW) |
Not Applicable to this Entity |
|
Total Issued Shares |
Not Applicable to this Entity |
Products, Technologies,
Services Description
|
Main Products & Services |
Supplier’s membership: 75 Membership : 155,705 Shops : 110 |
Trade Partners
& Competitors
|
Competitors |
NATIONAL FEDERATION OF FISHERIES
COOPERATIVES 11-6, SINCHEON-DONG, SONGPA-GU, SEOUL,
KOREA TEL:+82-2-2240-2114 FAX:+82-2-2240-3044 KOREAN FEDERATION OF COMMUNITY CREDIT
COOPERATIVES KOREAN FEDERATION OF COMMUNITY CREDIT
COOPERATIVES, 164, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3459-9114 FAX:+82-2-3459-9241 NATIONAL AGRICULTURAL COOPERATIVE FEDERATION 75, CHUNGJEONGNO 1-GA, JUNG-GU, SEOUL,
KOREA TEL:+ 82-2-2080-6120 FAX:+82-2-2080-6130 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
COOP STORE CO., LTD.(161111-0010737) ICOOP NONGSAN CO., LTD.(161111-0009566) ICOOP ECO-FRIENDLY CATERING CO., LTD.(150111-0107024) COOP BAKERY CORPORATION(134111-0191168) ICOOP CHUKSAN CO., LTD.(135111-0089346) COOP FOOD SYSTEM CO., LTD.(135111-0093454) SUNCHEON WOORI MIL BAKERY CO., LTD.(201311-0038091) |
|
Subsidiary |
COOP SERVICE CO., LTD.(135111-0085401) (99.0% held by the subject company) |
Sales by Region
(Activity & Markets)
Not Available.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.20 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
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.