|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE VOLON |
|
|
|
|
Registered Office : |
4FL., 741, Nonhyeon-ro, Gangnam-gu, Seoul, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of Handbags and Purses |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. 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 |
THE VOLON |
|
Registered
Address |
4FL.,
741, Nonhyeon-ro, Gangnam-gu, Seoul, Korea |
|
Zip
Code |
135-812 |
|
Tel |
+82-2-515-9748 |
|
Fax |
+82-2-515-9745 |
|
E-mail |
thevolonnol@thevolon.com |
|
Website |
www.thevolon.com |
|
Trading
Address |
4FL., 741, Nonhyeon-ro, Gangnam-gu, Seoul, Korea (Old
Address System : 4FL., 8-15, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-515-9748 |
|
Fax |
+82-2-515-9730 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Handbags and Purses |
|
Main Business |
Handbags,
Bags |
|
Established
(mm/dd/yyyy) |
N/A |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Handbags
or purses(53121601) |
|
Sell |
Briefcases(53121701) |
CEO’s
|
Name |
Jang
Eu-Jung |
|
Title |
Owner |
|
Sex |
Female |
|
Nationality |
Korean |
Profiles
|
Capital
(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole
Proprietorship |
|
Bank
Details |
N/A |
|
Corporate
Registered No. |
Not
Applicable to the Sole Proprietorship |
|
Business
Registered No. |
N/A. (The numbers are kept by the National Tax Service
confidentially.) Because
the subject’s full Business Registered No., for checking through the National
Tax Service whether the subject is still existing or not, is not available,
so we cannot confirm if the subject exist or not legally.) |
|
Permit
& Licenses |
N/A |
|
Shareholder
Position |
The
owner has 100% shares. |
|
Company
History |
N/A |
In our research through the official sources including the Supreme Court
Registry at which every Co Ltd type of Company should be registered, we could
not find the subject company. So we submit the report as a Sole Proprietorship
Type of Company as long as it exists.
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
M/S. |
Jang
Eu-Jung |
Female |
Korean |
|
Financial
Description
|
Authorized
Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Paid-Up
Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Total
Issued Shares |
Not
Applicable to the Sole Proprietorship |
Products,
Technologies, Services Description
|
Main
Products & Services |
Handbags,
Bags |
Trade Partners
& Competitors
|
Competitors |
SHINWON CORPORATION SINWON BLDG., 532, DOHWA-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3274-5000
FAX:+82-2-3274-5611 SUNGJOO D & D INC. 5TH FL., MCM HAUS, 78-12, CHEONGDAM-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2194-6700
FAX:+82-2-2269-7742 SIMONE ACCESSORY COLLECTION LTD. 317-1, GOCHEON-DONG, UIWANG-SI, GYEONGGI-DO, KOREA TEL:+8282-31-477-1430 FAX:+82-31-420-0333 |
Sales by Region
(Activity & Markets)
The Subject deals with the companies in Italy.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.