|
Report No. : |
308355 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KUMKANG CORP. |
|
|
|
|
Registered Office : |
2164-2, Jeongwang-Dong, Siheung-Si, Gyeonggi-Do, Rm.D-309, Megapolis, 429-450 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.04.2009 |
|
|
|
|
Com. Reg. No.: |
215-20-77943 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products. |
|
|
|
|
No. of Employees : |
1 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
|
Company Name |
KUMKANG CORP. |
|
Registered Address |
2164-2, Jeongwang-dong, Siheung-si, Gyeonggi-do, Korea |
|
Building |
Rm.D-309,
Megapolis |
|
Zip Code |
429-450 |
|
Tel |
+82-31-432-5260 |
|
Fax |
+82-31-432-5261 |
|
E-mail |
|
|
|
|
|
Trading Address |
Rm. 305, Hongik Bldg., 340-23, Jamsilbon-dong,
Songpa-gu, Seoul, Korea |
|
Tel |
+82-2-583-5260 |
|
Fax |
+82-2-583-5261 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
PVC Stabilizers, Plastic Additives |
|
|
|
|
Established (mm/dd/yyyy) |
04/02/2009 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Additives(12160000) |
|
Name |
Seo Eui-Young |
|
Address |
|
|
Date of Birth |
01/07/1969 |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
215-20-77943 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
04/02/2009 Established as the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Seo Eui-Young |
Male |
Korean |
04/02/2009 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2,841,518,000 |
285,535,000 |
54,256,000 |
|
|
2012 |
2,925,572,000 |
489,540,000 |
53,092,000 |
|
2011 |
2,365,963,000 |
353,288,000 |
28,945,000 |
|
2010 |
2,156,748,000 |
316,248,000 |
32,694,000 |
|
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 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
285,535,000 |
489,540,000 |
353,288,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
104,694,000 |
352,389,000 |
269,229,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
180,841,000 |
137,151,000 |
84,059,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
180,841,000 |
137,151,000 |
84,059,000 |
|
Liab. & Shareholder’s Equity |
285,535,000 |
489,540,000 |
353,288,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
2,841,518,000 |
2,925,572,000 |
2,365,963,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
54,256,000 |
53,092,000 |
28,945,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
|
Ordinary Income |
|
|
|
|
Special Income |
|
|
|
|
Income Before Taxes |
54,256,000 |
53,092,000 |
28,945,000 |
|
Income Taxes Expenses |
2,841,518,000 |
2,925,572,000 |
2,365,963,000 |
|
Net Income |
|
|
|
|
Main Products & Services |
PVC Stabilizers |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
KD CHEM CO., LTD.(134111-0013255) 22-3, GILSANG-RI, BOEUN-EUP, BOEUN-GUN,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-543-8430 FAX:+82-43-543-4177 |
|
Customers |
|
|
Competitors |
SUN KYUNG CHEMICAL CO., LTD. 348, HWASAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN,
KOREA TEL:+82-52-239-4343 FAX:+82-52-239-4340 DANSUK INDUSTRIAL CO., LTD. 1DA-705, SIHWA INDUSTRIAL COMPLEX, 1239-5,
JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-0700 FAX:+82-31-499-3909 ADEKA KOREA CORP. 839, YONGAM-RI, BONGDONG-EUP, WANJU-GUN,
JEOLLABUK-DO, KOREA TEL:+82-63-262-7190 FAX:+82-63-262-7338 |
The Subject imports
from China.
Not Available.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.