|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DA WOO LEATHER CO. |
|
|
|
|
Registered Office : |
53, Seongsuil-ro 6-gil, Seongdong-gu, Seoul, Korea Rm.104, Jeil Bldg.
133-120 |
|
|
|
|
Country : |
South Korea |
|
|
|
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Date of Incorporation : |
01.03.2000 |
|
|
|
|
Com. Reg. No.: |
206-06-82320 |
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|
|
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Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesales of Leather Products |
|
|
|
|
No. of Employees |
7 |
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 – March 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
DA WOO LEATHER CO. |
|
Registered
Address |
53,
Seongsuil-ro 6-gil, Seongdong-gu, Seoul, Korea |
|
Building |
Rm.104,
Jeil Bldg. |
|
Zip
Code |
133-120 |
|
Tel |
+82-2-463-7816~7 |
|
Fax |
+82-2-463-7818 |
|
Trading
Address |
Rm.104, Jeil Bldg., 53, Seongsuil-ro 6-gil, Seongdong-gu, Seoul, Korea (Old
Address System : Rm.104, Jeil Bldg., 315-71, Seongsu-dong 2-ga, Seongdong-gu,
Seoul, Korea) |
|
Tel |
+82-2-463-7816~7 |
|
Fax |
+82-2-463-7818 |
|
Type |
Export/Import |
|
Industry |
Wholesales
of Leather Products |
|
Main Business |
Leather
Products |
|
Established
(mm/dd/yyyy) |
01/03/2000 |
The Subject Company occupies the premises of registered HQ address by
leasing base.
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Leathers(11162300) |
|
Name |
Cho
Sang-Joo |
|
Address |
|
|
Date
of Birth |
12/18/1963 |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital
(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Employees |
7 |
|
Formation |
Sole
Proprietorship |
|
Bank
Details |
Industrial
Bank of Korea-Sungsu Dong Branch |
|
Corporate
Registered No. |
Not
Applicable to the Sole Proprietorship |
|
Business
Registered No. |
206-06-82320 |
|
Permit
& Licenses |
N/A |
|
Shareholder
Position |
The
owner has 100% shares. |
|
Company
History |
01/03/2000
Established as the present name |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Cho
Sang-Joo |
Male |
Korean |
01/03/2000 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
|
|
|
The financials are not available, and the Subject Company does not have
any obligations to release its financials to the public.
|
Authorized
Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Paid-Up
Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Total
Issues Shares |
Not
Applicable to the Sole Proprietorship |
|
Main
Products & Services |
Leather
Products, Textiles |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
|
Competitors |
DAE IL LEATHER CO., LTD. 1086-1, JANGNIM 1-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-262-9191~4
FAX:+82-51-262-9195 SEONG WON LEATHER IND. CO., LTD. 18B-45, BANWOL INDUSTRIAL COMPLEX, 617-7, SEONGGOK-DONG, DANWON-GU,
ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-0212~3
FAX:+82-31-491-0504 YONG SHIN LEATHER CO., LTD. 100, SAMBANG-DONG, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-329-0871 FAX:+82-55-329-0874 |
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
UK Pound |
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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.