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Report No. : |
329105 |
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Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
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Name : |
HYO WON CORPORATION |
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Registered Office : |
Rm. 607, Centum IS Tower, 60, Centum buk-daero, Haeundae-gu, Busan 612-050 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.06.1194 |
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Com. Reg. No.: |
617-81-12827 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Exporter and Importer of Net, Rope, Extrusion Line, Take-up Winder, Spin Draw, Paperbag Making Machine, Twisting Machines, Rope Machine, Netting Machines |
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No of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SOUTH KOREA ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible economic 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. A system of close government and business ties, including directed credit and import restrictions, initially 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 7% 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 over 6% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Between 2012 and 2014, the economy experienced slow growth due to sluggish domestic consumption and investment. The administration in 2015 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 the heavy reliance on exports, which comprise about half of GDP. In an effort to address the long term challenges and sustain economic growth, the current government has prioritized structural reforms, deregulation, promotion of entrepreneurship and creative industries, and the competitiveness of small and medium enterprises.
|
Source
: CIA |
Basic
|
Company Name |
HYO WON CORPORATION (Korean Company Name :”(주)효원상사”) |
|
Registered
Address |
60, Centum buk-daero, Haeundae-gu, Busan, Korea |
|
Building |
Rm.
607, Centum IS Tower |
|
Zip
Code |
612-050 |
|
Tel |
+82-51-780-8040 |
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Fax |
+82-51-780-8042 |
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E-mail |
hyowonco@yahoo.co.kr,park-hyowon@daum.net,hurman@naver.com |
|
Website |
www.koneroma.co.kr |
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Trading
Address |
Rm. 607, Centum IS Tower, 60, Centum
buk-daero, Haeundae-gu, Busan, Korea (Old Address System : Rm. 607, Centum IS Tower, 1209, Jaesong-dong,
Haeundae-gu, Busan, Korea) |
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Tel |
+82-51-780-8040 |
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Fax |
+82-51-780-8042 |
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Other
Address |
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|
Tel |
|
|
Fax |
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Type |
Export/Import |
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Industry |
Wholesales
of Other Cordage |
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Main
Business |
Net,
Rope, Extrusion Line, Take-up Winder, Spin Draw, Paperbag Making Machine,
Twisting Machines, Rope Machine, Netting Machines |
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Sub Business |
|
|
Established
(mm/dd/yyyy) |
06/09/1994 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Ropes(31151500) |
|
Sell |
Nylon
rope(31151504) |
CEO’s
|
Name |
Park Jong-Wook |
|
Address |
Suite 108-1302, 19, Sesil-ro, Haeundae-gu,
Busan, Korea |
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Date of Birth |
12/06/1950 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
400,000,000 |
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Employees |
4 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
Woori Bank-Kwangan Dong Branch |
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Corporate Registered No. |
180111-0158104 |
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Business Registered No. |
617-81-12827 |
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Permit & Licenses |
Int’l
Trade No.: 12005185 |
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Shareholder Position |
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Company History |
06/09/1994 Incorporated as the present name 07/26/2007 Increased the authorized shares to
1,000,000 shares from 100,000 shares 01/05/2009 Moved to the present HQ address
from 450-10, Suyeong-dong, Suyeong-gu, Busan, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President
& CEO |
Mr. |
Park Jong-Wook |
Male |
Korean |
03/26/2003 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
|
|
|
|
2013 |
7,334,154,000 |
5,232,899,000 |
76,506,000 |
|
2012 |
8,055,432,000 |
5,406,835,000 |
89,431,000 |
|
2011 |
8,832,212,000 |
5,460,662,000 |
87,144,000 |
|
2010 |
17,289,062,000 |
5,125,221,000 |
165,964,000 |
|
2009 |
8,545,693,000 |
5,117,221,000 |
145,900,000 |
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) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issued Shares |
40,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
5,232,899,000 |
5,406,835,000 |
5,460,662,000 |
|
Current Assets |
4,714,727,000 |
4,934,007,000 |
4,978,090,000 |
|
-Quick
Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed
Assets |
518,172,000 |
472,828,000 |
482,572,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
3,771,872,000 |
4,022,314,000 |
4,165,572,000 |
|
Current Liabilities |
2,749,676,000 |
2,778,718,000 |
2,700,576,000 |
|
Fixed Liabilities |
1,022,196,000 |
1,243,596,000 |
1,464,996,000 |
|
Capital Stock |
400,000,000 |
400,000,000 |
400,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
1,061,027,000 |
984,521,000 |
895,090,000 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
1,461,027,000 |
1,384,521,000 |
1,295,090,000 |
|
Liab. & Shareholder’s Equity |
5,232,899,000 |
5,406,835,000 |
5,460,662,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
7,334,154,000 |
8,055,432,000 |
8,832,212,000 |
|
Cost of Sold Goods |
5,729,848,000 |
7,076,023,000 |
7,673,550,000 |
|
Gross Profit |
1,604,306,000 |
979,409,000 |
1,158,662,000 |
|
Selling & Admin. Expenses |
1,295,835,000 |
637,679,000 |
889,263,000 |
|
Operating Income |
308,471,000 |
341,730,000 |
269,399,000 |
|
Non-Operating Income |
6,070,000 |
17,625,000 |
81,667,000 |
|
Non-Operating Expenses |
229,362,000 |
259,816,000 |
249,952,000 |
|
Income Before Taxes |
85,179,000 |
99,539,000 |
101,114,000 |
|
Income Taxes Expenses |
8,673,000 |
10,108,000 |
13,970,000 |
|
Net Income |
76,506,000 |
89,431,000 |
87,144,000 |
|
Main Products & Services |
Net,
Rope, Extrusion Line, Take-up Winder, Spin Draw, Paperbag Making Machine,
Twisting Machines, Rope Machine, Netting Machines |
|
Detailed Products Spec. |
|
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Technologies Acquired |
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Suppliers |
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Customers |
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Competitors |
SAMWOO ST CORPORATION RM. 201, YOJIN BLDG., 7-3, NONHYEON 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-701-3995 FAX:+82-2-701-3996 AJIN ROPE CO., LTD. 2ND FL., A-JIN BLDG., 492-4, GONGNEUNG
1.3-DONG, NOWON-GU, SEOUL, KOREA TEL:+82-2-949-0090 FAX:+82-2-949-0094 JIN SUNG COMPANY 461-1, GWANGWOL-RI, SINNI-MYEON,
CHUNGJU-SI, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-854-3140~1 FAX:+82-43-854-3142 |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.60 |
|
|
1 |
Rs. 100.09 |
|
Euro |
1 |
Rs. 71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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-- |
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.