MIRA INFORM REPORT

 

 

Report Date :

13.09.2014

 

IDENTIFICATION DETAILS

 

Name :

CANKO MARKETING INC.

 

 

Registered Office :

Rm.901, Changdong Cityworld, 132-89926, Nohae-Ro 69-Gil, Dobong-Gu, Seoul

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.04.2008

 

 

Com. Reg. No.:

127-86-10001

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Other Chemical Materials and Chemical Products.

 

 

No of Employees :

3

 

 

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 :

Slow but correct

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 Information

 

Company Name

CANKO MARKETING INC.

Registered Address

26, Nohae-ro 69-gil, Dobong-gu, Seoul, Korea

Building

Rm.901, Changdong Cityworld

Zip Code

132-899

Tel

+82-31-821-8774~5

Fax

+82-31-821-8776

E-mail

cankoinc@yahoo.co.kr

k4eyongj@naver.com

Website

www.cankoinc.co.kr

 

 

Trading Address

Rm.901, Changdong Cityworld, 26, Nohae-ro 69-gil, Dobong-gu, Seoul, Korea

Tel

+82-2-6315-0051

Fax

+82-2-6315-0052

 

 

Type

Export/Import

Industry

Wholesale of Other Chemical Materials and Chemical Products

  Main Business

Chemicals, Dyestuff, Phosphoric Acid, PVC, ABS, PP, PE

 

 

Established (mm/dd/yyyy)

04/10/2008

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Phthalein dyes(12171502)

Sell

Dyes(12171500)

Sell

Ink and lead refills(44121900)

Sell

Reactive Dyestuffs

Sell

Dyes(12171500)

 

 

CEO’s

 

Name

Kwon Ki-Hong(David)

Address

Suite 609, 29, Dongil-ro 203ga-gil, Nowon-gu, Seoul, Korea

Date of Birth

08/14/1962

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

250,000,000

Employees

3

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea-Deokgye Branch

Nonghyup Bank

Shinhan Bank

Corporate Registered No.

280111-0086966

Business Registered No.

127-86-10001

Permit & Licenses

Int’l Trade No.: 45301957

Shareholder Position

N/A

Company History

04/10/2008 Incorporated as the present name

12/31/2009 Increased capital to 250,000,000 KRW from 100,000,000 KRW

10/2010 Awarded US$ 1 Million Export Top Prize

10/2011 Awarded US$ 5 Million Export Top Prize

02/15/2012 Moved to Rm. 623, Tomato Parco, 1267, Sanggye 1-dong, Nowon-gu, Seoul, , Korea from Rm. 614, Central Tower, 494, Uijeongbu 2-dong, Uijeongbu-si, Gyeonggi-do, Korea

03/27/2013 Moved to Rm. 1512, Tomato Parco, 1267, Sanggye 1-dong, Nowon-gu, Seoul, , Korea from Rm. 623, Tomato Parco, 1267, Sanggye 1-dong, Nowon-gu, Seoul, , Korea

10/2013 Awarded US$ 10 Million Export Top Prize

08/29/2014 Moved to the present HQ address from Rm. 1512, Tomato Parco, 1700, Dongil-ro, Nowon-gu, Seoul, Korea(Old Address System : Rm. 1512, Tomato Parco, 1267, Sanggye 1-dong, Nowon-gu, Seoul, , Korea)

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Kwon Ki-Hong (David)

Male

Korean

04/10/2008

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

9,439,976,000

2,503,368,000

142,602,000

2011

5,723,417,000

1,253,990,000

53,319,000

2010

9,083,000,000

1,413,000,000

84,000,000

2009

6,000,000,000

 

 

2008

3,102,000,000

 

 

 

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)

250,000,000

Total Issues Shares

25,000

 

Balance Sheet

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Total Assets

2,503,368,000

1,253,990,000

1,413,000,000

Current Assets

2,312,860,000

1,022,049,000

988,000,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

190,508,000

231,941,000

425,000,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

1,921,100,000

814,323,000

1,026,000,000

Current Liabilities

1,921,100,000

814,323,000

1,026,000,000

Fixed Liabilities

-

-

-

Capital Stock

250,000,000

250,000,000

250,000,000

Capital Surplus

-

-

-

Profit Surplus

332,268,000

190,510,000

138,000,000

Capital Adjustment

-

-843,000

-1,000,000

Total Equity

582,268,000

439,667,000

387,000,000

Liab. & Shareholder’s Equity

2,503,368,000

1,253,990,000

1,413,000,000

 

 

Income Statement

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Sales

9,439,976,000

5,723,417,000

9,083,000,000

Cost of Sold Goods

8,498,203,000

5,132,001,000

8,353,000,000

Gross Profit

941,773,000

591,416,000

730,000,000

Selling & Admin. Expenses

816,356,000

525,251,000

698,000,000

Operating Income

125,417,000

66,165,000

32,000,000

Non-Operating Income

112,523,000

158,689,000

178,000,000

Non-Operating Expenses

91,838,000

154,702,000

116,000,000

Income Before Taxes

146,102,000

70,152,000

94,000,000

Income Taxes Expenses

3,500,000

16,833,000

10,000,000

Net Income

142,602,000

53,319,000

84,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Acid Dyes, Direct Dyes

Auxiliaries for Leather

Chemicals for The Leather Treatments

Dyestuffs & Chemicals

Leather Dyes

 

 

Trade Partners & Competitors

 

Competitors

JIN WOONG INDUSTRIAL CO., LTD.

619-1, GANAP -RI, GWANGJEOK-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-837-6005  FAX:+82-31-837-6006

 

NATO CORPORATION LTD.

73, YONGAM-RI, EUNHYEON-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-862-8181  FAX:+82-31-864-4294

 

RHEESOO DYES & CHEMICALS CO., LTD.

6TH FL., YEONGSANG BLDG., 397-17, DAEBANG-DONG, DONGJAK-GU, SEOUL, KOREA

TEL:+82-2-825-8541  FAX:+82-2-824-4294

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

--------

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to India, Malaysia and Pakistan.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.84

UK Pound

1

Rs.98.73

Euro

1

Rs.78.64 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.