|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOREA CARRAGHEEN CO., LTD. |
|
|
|
|
Registered Office : |
Rm. 1022, Haenam Bldg. Annex, 64, Sejong-daero, Jung-gu, Seoul 100-080 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.11.1978 |
|
|
|
|
Com. Reg. No.: |
104-81-24166 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Food Additive Products |
|
|
|
|
No of Employees : |
25 |
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 (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
KOREA CARRAGHEEN
CO., LTD. (Korean Company Name : “(주)한국카라겐”) |
|
Registered Address |
64, Sejong-daero, Jung-gu, Seoul, Korea |
|
Building |
Rm.
1022, Haenam Bldg. Annex |
|
Zip Code |
100-080 |
|
Tel |
+82-2-773-6501~3 |
|
Fax |
+82-2-774-9740 |
|
E-mail |
webmaster@kocara.com |
|
Website |
www.kocara.com |
|
Trading
Address |
Rm. 1022, Haenam Bldg. Annex, 64,
Sejong-daero, Jung-gu, Seoul, Korea (Old Address System : Rm. 1022, Haenam Bldg. Annex, 21, Bukchang-dong,
Jung-gu, Seoul, Korea (C. P.O.BOX 5834)) |
|
Tel |
+82-2-773-6501~3 |
|
Fax |
+82-2-774-9740 |
|
Other
Address-Suncheon Factory |
253, Seonpyeong-ri, Seo-myeon, Suncheon-si, Jeollanam-do, Korea |
|
Tel |
+82-61-755-9455~7 |
|
Fax |
+82-61-755-9945~8 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Other Food Additive Products |
|
Main Business |
Carrageenan,
Xanthan-Gum, Locust Bean Gum, Tamarind Gum |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/01/1978 |
The Subject
Company occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Food
or drug additives(12164500) |
|
Sell |
Seasonings
and preservatives(50170000) |
|
Sell |
Additives(12160000) |
|
Sell |
Gels(12161801) |
|
Sell |
Pigment
paints(31211503) |
|
Buy |
Forestry
byproducts(11121700) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Settling
tanks(47101532) |
|
Buy |
Filters(40161500) |
|
Buy |
Washing
or dewatering machines(23151903) |
|
Buy |
Carbohydrates
or its derivatives(12352201) |
|
Buy |
Combinational
fructose Dextrose and phosphoric acid(51171811) |
|
Buy |
Cereal
flour(50221102) |
CEO’s
|
Name |
Kim
Jin-Sun |
|
Address |
166-123, Nusang-dong, Jongno-gu, Seoul, Korea |
|
Date of Birth |
08/07/1948 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,000,000,000 |
|
Employees |
25 |
|
Formation |
Co., Ltd by shares Foreign
Direct Investment Corporation |
|
Bank Details |
Shinhan Bank-Myungdong Corporate Finance
Branch |
|
Corporate Registered No. |
110111-0241119 |
|
Business Registered No. |
104-81-24166 |
|
Permit & Licenses |
11/2003 ISO 9001 Int’l
Trade No.: 87706 |
|
Shareholder Position |
N/A |
|
Company History |
11/01/1978 Incorporated as the present name 03/1980 Registered as a Foreign Direct
Investment Corporation 12/31/1994 Moved to the present HQ address from 70-1, Bukchang-dong,
Jung-gu, Seoul, Korea 03/2005 Designated as a Promising SME Company 10/06/2010
Increased capital to 1,000,000,000 KRW from 355,000,000 KRW |
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Chairman |
Mr. |
Kim Moung-Gon |
Male |
Korean |
02/25/1994 |
|
President
& CEO |
Mr. |
Kim Jin-Sun |
Male |
Korean |
06/22/1996 |
|
Director |
M/S. |
Kim Jung-Hee |
Female |
Korean |
07/01/1996 |
|
Director |
M/S. |
Kim Young-Hee |
Female |
Korean |
07/01/2005 |
|
Director |
M/S. |
Kim Kwang-Sook |
Female |
Korean |
12/15/2012 |
|
Auditor |
M/S. |
Kim Kwang-Ran |
Female |
Korean |
03/30/2004 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
9,387,000,000 |
7,030,000,000 |
972,000,000 |
|
2011 |
7,938,000,000 |
6,058,000,000 |
865,000,000 |
|
2010 |
8,226,000,000 |
5,319,000,000 |
677,000,000 |
|
2009 |
5,140,000,000 |
4,258,000,000 |
230,000,000 |
|
2008 |
|
|
|
|
2007 |
4,793,000,000 |
4,158,000,000 |
307,000,000 |
|
2006 |
4,725,000,000 |
3,812,000,000 |
292,000,000 |
|
2005 |
4,699,000,000 |
3,814,000,000 |
308,000,000 |
|
2004 |
5,066,000,000 |
|
|
|
2003 |
4,542,000,000 |
|
|
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
2,500,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
7,030,000,000 |
6,058,000,000 |
5,319,000,000 |
|
Current Assets |
5,008,000,000 |
4,078,000,000 |
3,354,000,000 |
|
-Quick
Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed
Assets |
2,022,000,000 |
1,980,000,000 |
1,965,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
1,893,000,000 |
1,692,000,000 |
1,618,000,000 |
|
Current Liabilities |
1,019,000,000 |
943,000,000 |
811,000,000 |
|
Fixed Liabilities |
874,000,000 |
749,000,000 |
807,000,000 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
5,137,000,000 |
4,366,000,000 |
3,701,000,000 |
|
Liab. & Shareholder’s Equity |
7,030,000,000 |
6,058,000,000 |
5,319,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
9,387,000,000 |
7,938,000,000 |
8,226,000,000 |
|
Cost of Sold Goods |
6,919,000,000 |
5,649,000,000 |
5,996,000,000 |
|
Gross Profit |
2,468,000,000 |
2,289,000,000 |
2,230,000,000 |
|
Selling & Admin. Expenses |
1,289,000,000 |
1,243,000,000 |
1,302,000,000 |
|
Operating Income |
1,179,000,000 |
1,046,000,000 |
928,000,000 |
|
Non-Operating Income |
31,000,000 |
38,000,000 |
39,000,000 |
|
Non-Operating Expenses |
56,000,000 |
54,000,000 |
128,000,000 |
|
Income Before Taxes |
1,154,000,000 |
1,030,000,000 |
838,000,000 |
|
Income Taxes Expenses |
182,000,000 |
165,000,000 |
162,000,000 |
|
Net Income |
972,000,000 |
865,000,000 |
677,000,000 |
|
Main Products & Services |
Carrageenan,
Xanthan-Gum, Locust Bean Gum, Tamarind Gum, Pectin |
|
Customers |
LOTTE SHOPPING CO., LTD.(110111-0000086) WOOJI
CHEMICALS CO., LTD.(KOREA) |
|
Competitors |
MSC CO., LTD. 439-13, SOJU-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-389-1001~20 FAX:+82-55-366-0478 CHEONG DO AGAR AGAR MFG. CO., LTD. 385, SORA-RI, HWAYANG-EUP, CHEONGDO-GUN,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-372-7701~3 FAX:+82-54-372-7705 SONG EUN COMMERCIAL CO., LTD. 60-2, OGEUM-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-406-2700 FAX:+82-2-406-2662 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
JAPAN OFFICE 20-9, 1-CHOME, SAKURAMODO, KAWASAKI-KU,
KAWASAKI, JAPAN |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.57 |
|
|
1 |
Rs. 98.87 |
|
Euro |
1 |
Rs. 80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.