|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WOO YANG
R&B CORPORATION |
|
|
|
|
Registered Office : |
725,
Nonhyeon-ro, Gangnam-gu, Seoul, Korea 3FL., Sam Yoo Bldg. 135-010 |
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|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
07.01.2000 |
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|
|
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Com. Reg. No.: |
120-81-97846 |
|
|
|
|
Legal Form : |
Co., Ltd. by
shares |
|
|
|
|
Line of Business : |
Wholesales of
Home Total Fashion and textiles |
|
|
|
|
No. of Employees |
70 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
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 |
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
|
Company Name |
WOO YANG
R&B CORPORATION (Korean Company Name : “(주)우양알앤비”) |
|
Registered
Address |
725,
Nonhyeon-ro, Gangnam-gu, Seoul, Korea |
|
Building |
3FL., Sam
Yoo Bldg. |
|
Zip Code |
135-010 |
|
Tel |
+82-2-518-4877 |
|
Fax |
+82-2-518-4879 |
|
E-mail |
bassetti2002@yahoo.co.kr |
|
Website |
|
|
Trading Address |
3FL., Sam
Yoo Bldg., 725, Nonhyeon-ro, Gangnam-gu, Seoul, Korea (Old Address System : 3FL., Sam Yoo Bldg., 33-23, Nonhyeon-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-518-4877 |
|
Fax |
+82-2-518-4879 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesales of
Home Total Fashion and textiles |
|
Main Business |
High End Carpet, Rug, Designer Edition Custom Made Rug,
Master Piece Carpet, Bath Mat |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
01/07/2000 |
The Subject
Company occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Blankets(52121508) |
|
Sell |
Carpeting(30161701) |
|
Sell |
Rugs and mats(52101500) |
CEO’s
|
Name |
Park Chan-Yeop |
|
Address |
Suite 321-306,
91, Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do 463-822 Korea |
|
Date of Birth |
02/01/1958 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
200,000,000 |
||||||||||||
|
Employees |
70 |
||||||||||||
|
Formation |
Co., Ltd. by
shares |
||||||||||||
|
Bank Details |
Woori
Bank-Bubjo Town Branch Korea Exchange
Bank-Trade Center Branch |
||||||||||||
|
Corporate
Registered No. |
110111-1846083 |
||||||||||||
|
Business
Registered No. |
120-81-97846 |
||||||||||||
|
Permit &
Licenses |
N/A |
||||||||||||
|
Shareholder
Position |
|
||||||||||||
|
Company
History |
01/07/2000 Incorporated as the present name 01/026/2006 Moved to the present address from 1FL., Kyunghui Bldg., 109-18, Samseong-dong, Gangnam-gu, Seoul, Korea 12/08/2008 Increased the authorized shares to 160,000 shares from 80,000 shares 12/25/2008 Increased capital to 200,000,000 KRW from
100,000,000 KRW |
||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Park Chan-Yeop |
Male |
Korean |
03/31/2003 |
|
Director |
M/S |
Yoo Sun-Ok |
Female |
Korean |
01/07/2000 |
|
Auditor |
Mr. |
Chung Hae-Chun |
Male |
Korean |
03/11/2004 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
9,147,000,000 |
3,799,000,000 |
271,000,000 |
|
2011 |
8,769,000,000 |
4,827,000,000 |
186,000,000 |
|
2010 |
7,083,000,000 |
5,386,000,000 |
161,000,000 |
|
2009 |
6,427,000,000 |
|
131,000,000 |
|
2008 |
6,086,580,000 |
|
105,010,000 |
|
2007 |
5,006,980,000 |
|
81,550,000 |
|
2006 |
3,937,050,000 |
|
76,410,000 |
|
2005 |
2,480,860,000 |
|
44,500,000 |
|
2004 |
2,466,800,000 |
|
41,420,000 |
|
2003 |
2,810,000,000 |
|
82,000,000 |
The latest
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) |
400,000,000 |
|
Paid-Up
Capital(KRW) |
200,000,000 |
|
Total Issued
Shares |
40,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of 12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
3,799,000,000 |
4,827,000,000 |
5,386,000,000 |
|
Current Assets |
2,822,000,000 |
3,829,000,000 |
4,497,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
977,000,000 |
998,000,000 |
889,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total
Liabilities |
2,398,000,000 |
3,674,000,000 |
4,421,000,000 |
|
Current
Liabilities |
1,996,000,000 |
3,144,000,000 |
3,821,000,000 |
|
Fixed
Liabilities |
402,000,000 |
530,000,000 |
600,000,000 |
|
Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
|
Capital
Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital
Adjustment |
- |
- |
- |
|
Total Equity |
1,401,000,000 |
1,153,000,000 |
965,000,000 |
|
Liab. &
Shareholder’s Equity |
3,799,000,000 |
4,827,000,000 |
5,386,000,000 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
9,147,000,000 |
8,769,000,000 |
7,083,000,000 |
|
Cost of Sold
Goods |
5,209,000,000 |
5,244,000,000 |
4,329,000,000 |
|
Gross Profit |
3,938,000,000 |
3,525,000,000 |
2,754,000,000 |
|
Selling &
Admin. Expenses |
3,569,000,000 |
3,242,000,000 |
2,579,000,000 |
|
Operating
Income |
369,000,000 |
283,000,000 |
175,000,000 |
|
Non-Operating
Income |
81,000,000 |
39,000,000 |
108,000,000 |
|
Non-Operating
Expenses |
130,000,000 |
110,000,000 |
102,000,000 |
|
Income Before
Taxes |
320,000,000 |
212,000,000 |
181,000,000 |
|
Income Taxes
Expenses |
49,000,000 |
26,000,000 |
20,000,000 |
|
Net Income |
271,000,000 |
186,000,000 |
161,000,000 |
Products,
Technologies, Services Description
|
Main Products
& Services |
High End Carpet, Rug, Designer Edition Custom Made Rug, Master Piece Carpet, Bath Mat Brand Name : Bassetti, Zucchi |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
BASSETTI-ITALY HABIDECOR(UNDERFOOT MASTERPIECE)-PORTUGAL HARO-GERMANY V.M. CARPET-FINLAND THE SUBJECT IMPORTS FROM THE ABOVE SUPPLIERS. |
|
Customers |
The subject
sells through major department stores and Marts including Hyundai, Lotte,
Shinsegei Department Store. |
|
Competitors |
WONU CO., LTD. 2ND FL.,
SEO-IL BLDG., 222, JAMSILBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-569-5722 FAX:+82-2-569-5081 NAMHWA
CORPORATION 4TH FL., DAR
BLDG., 93-5, CHEONGDAM-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-784-9142~4 FAX:+82-2-784-9607 BOOMIN
ENTERPRISE CO., LTD. 576,
GAPSAN-RI, ANGANG-EUP, GYEONGJU-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-761-8677 FAX:+82-54-761-3642 |
Sales by Region
(Activity & Markets)
The subject
imports from India, Italy and other European countries.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
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.