|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
VFK HEAD CORP. |
|
|
|
|
Registered Office : |
A-801, Woolim Blue9 Business Center, 583, Yangcheon-ro, Gangseo-gu, Seoul |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
22.08.2003 |
|
|
|
|
Com. Reg. No.: |
109-81-87206 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Rubber, Man-made fiber and Plastic Machinery |
|
|
|
|
No of Employees : |
5 |
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 |
|
Company
Name |
VFK HEAD CORP. (Korean Company Name : “(주)브이에프케이헤드”) |
|
Registered Address |
583, Yangcheon-ro, Gangseo-gu, Seoul, Korea |
|
Building |
A-801,
Woolim Blue9 Business Center |
|
Zip Code |
157-779 |
|
Tel |
+82-2-3661-3106 |
|
Fax |
+82-2-3664-3106 |
|
E-mail |
vfk@korea.com |
|
Website |
www.vfk.com |
|
Trading
Address |
A-801, Woolim Blue9 Business Center, 583,
Yangcheon-ro, Gangseo-gu, Seoul, Korea (Old Address System : A-801, Woolim Blue9 Business Center, 240-21,
Yeomchang-dong, Gangseo-gu, Seoul, Korea) |
|
Tel |
+82-2-3661-3106 |
|
Fax |
+82-2-3664-3106 |
|
Other
Address-Factory |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture
of Rubber, Man-made fiber and Plastic Machinery |
|
Main Business |
Thermoforming
Machinery Line, Extruder, Grinder, Mold |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/22/2003 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Rubber and plastic processing machinery and
equipment and supplies(23151500) |
|
Sell |
Extruders(23151503) |
|
Name |
Jung
Hye-In |
|
Address |
Suite 105-3002, 155, Mokdongseo-ro,
Yangcheon-gu, Seoul, Korea |
|
Date of Birth |
05/25/1963 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
200,000,000 |
|
Employees |
5 |
|
Formation |
Co.,
Ltd by Shares |
|
Bank Details |
Industrial Bank of Korea |
|
Corporate Registered No. |
110111-2845133 |
|
Business Registered No. |
109-81-87206 |
|
Permit & Licenses |
10/10/2002 ISO 9001 Int’l
Trade No.: 45119271 |
|
Shareholder Position |
N/A |
|
Company History |
08/22/2003 Incorporated as
VFK CORP. 12/14/2004 Changed company name to the
present name 03/16/2009 Increased the authorized shares
to 500,000 shares from 40,000 shares 03/17/2009 Increased capital to 200,000,000
KRW from 100,000,000 KRW 09/17/2009 Moved to the present HQ address from
282-2, Deungchon-dong, Gangseo-gu, Seoul, Korea |
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative Director |
Mr. |
Jung
Hye-In |
Male |
Korean |
08/22/2006 |
|
Auditor |
Mr. |
Oh Dong-Ha |
Male |
Korean |
08/22/2006 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
21,462,000,000 |
7,168,000,000 |
|
|
2009 |
11,104,000,000 |
5,883,000,000 |
|
|
2008 |
12,155,000,000 |
|
|
The latest &
full 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) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Main Products & Services |
Thermoforming
Machinery Line, Extruder, Grinder, Mold |
|
Competitors |
MYUNG-IL
FOAMTEC 38B-7L,
SEONGSEO INDUSTRIAL COMPLEX 2-CHA 2-JIGU, 927-3, WORAM-DONG, DALSEO-GU,
DAEGU, KOREA TEL:+82-53-582-3911~4 FAX:+82-53-585-3915 POLYCELL KOREA
CORPORATION RM. 1409,
SEONGJI HEIGHTS 1-CHA BLDG., 702-13, YEOKSAM 1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-558-3061 FAX:+82-2-558-3062 PE TECH FOAM
CO., LTD. RM. B-5,
JEONGGOK BLDG. EAST ANNEX, 1704-1, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3482-1142 FAX:+82-2-3482-1143 |
Related
Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
VFK HEAD CO., LTD.(124411-0069741) |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
RGN |
|
|
|
|
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.