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Report No. : |
343479 |
|
Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOKEM CO., LTD. |
|
|
|
|
Registered Office : |
70, Gukjegeumyung-Ro, Yeongdeungpo-Gu, Seoul, Korea, 150-733, Rm. 1010, Miwon Bldg. |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.08.1993 |
|
|
|
|
Com. Reg. No.: |
116-81-45747 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
|
|
|
|
No. of Employees : |
2 |
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 : |
No Complaints |
|
|
|
|
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 |
|
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 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, and is currently the world's 12th
largest economy. 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 sluggish growth because of external market slowdowns. 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.
|
Source
: CIA |
|
Company Name |
KOKEM CO., LTD. |
|
Registered Address |
70, Gukjegeumyung-ro, Yeongdeungpo-gu,
Seoul, Korea |
|
Building |
Rm. 1010, Miwon Bldg. |
|
Zip Code |
150-733 |
|
Tel |
+82-2-780-8832 |
|
Fax |
+82-2-780-9883 |
|
E-mail |
|
|
|
|
|
Trading Address |
Rm. 1010, Miwon Bldg., 70, Gukjegeumyung-ro, Yeongdeungpo-gu, Seoul,
Korea (Old Address System : Rm. 1010, Miwon
Bldg., 43, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-3215-5000 |
|
Fax |
+82-2-780-9883 |
|
|
|
|
Other Address |
61, Yeouinaru-ro, Yeongdeungpo-gu, Seoul, Korea (Old Address System : 25-15, Yeouido-dong, Yeongdeungpo-gu, Seoul,
Korea) |
|
|
|
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Dioxide Titanium, Tanning Product, Real Estate Leasing Services |
|
|
|
|
Established (mm/dd/yyyy) |
08/11/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Surfactants(12161900) |
|
Sell |
Titanium dioxide(12171604) |
|
Name |
Yoon Dae-Sik |
|
Address |
Suite 3302, 36, 63-ro, Yeongdeungpo-gu,
Seoul, Korea |
|
Date of Birth |
11/12/1941 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
|||||||||||||||
|
Employees |
2 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||
|
Bank Details |
Woori Bank-Toigyero Branch |
|||||||||||||||
|
Corporate Registered No. |
110111-0964753 |
|||||||||||||||
|
Business Registered No. |
116-81-45747 |
|||||||||||||||
|
Permit & Licenses |
N/A |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
08/11/1993 Incorporated as the present name 06/30/2010 Increased the authorized shares
to 200,000 shares from 20,000 shares 07/06/2010 Increased capital to 500,000,000
KRW from 50,000,000 KRW |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Yoon Dae-Sik |
Male |
Korean |
03/31/2013 |
|
Director |
M/S. |
Park Soo-Yeon |
Female |
Korean |
07/04/2007 |
|
Director |
Mr. |
Yoon Kang-Hoon |
Male |
Korean |
03/31/2013 |
|
Auditor |
Mr. |
Yoon Sung-Won |
Male |
Korean |
03/31/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
5,204,820,131 |
59,152,525,458 |
978,620,346 |
|
2013 |
5,043,424,258 |
58,585,433,525 |
1,026,536,709 |
|
2012 |
4,663,050,665 |
62,168,870,695 |
1,017,426,707 |
|
2011 |
4,674,288,798 |
57,762,172,431 |
506,317,914 |
|
2010 |
2,158,911,090 |
59,656,935,694 |
-268,692,681 |
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issued Shares |
50,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
59,152,525,458 |
58,585,433,525 |
62,168,870,695 |
|
Current Assets |
590,440,644 |
309,064,993 |
5,978,153,645 |
|
-Quick Assets |
541,196,484 |
309,024,993 |
5,978,153,645 |
|
-Inventories |
49,244,160 |
40,000 |
- |
|
Fixed Assets |
58,562,084,814 |
58,276,368,532 |
56,190,717,050 |
|
-Investment |
4,199,848,800 |
2,999,892,000 |
- |
|
-Tangibles |
54,361,326,014 |
55,275,566,532 |
56,189,807,050 |
|
-Intangibles |
|
|
|
|
-Others |
910,000 |
910,000 |
910,000 |
|
Total Liabilities |
55,824,506,176 |
56,236,034,589 |
60,846,008,468 |
|
Current Liabilities |
52,887,883,725 |
53,320,646,118 |
57,963,822,383 |
|
Fixed Liabilities |
2,936,622,451 |
2,915,388,471 |
2,882,186,085 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
2,828,019,282 |
1,849,398,936 |
822,862,227 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
3,328,019,282 |
2,349,398,936 |
1,322,862,227 |
|
Liab. & Shareholder’s Equity |
59,152,525,458 |
58,585,433,525 |
62,168,870,695 |
|
Current
Liabilities |
52,887,883,725 |
53,320,646,118 |
57,963,822,383 |
|
Short-Term Borrowings |
52,649,199,360 |
52,930,000,000 |
57,600,000,000 |
|
Account Payables |
943,840 |
56,400,787 |
4,629,160 |
|
Advance Receipts |
1,097,500 |
- |
|
|
VAT Withhold |
103,752,749 |
100,729,498 |
97,961,336 |
|
Accrued Expenses |
28,546,847 |
27,855,505 |
41,917,808 |
|
Accrued Income Tax |
104,343,429 |
205,660,328 |
219,314,079 |
|
Fixed
Liabilities |
2,936,622,451 |
2,915,388,471 |
2,882,186,085 |
|
Leasehold Deposit Received |
2,936,622,451 |
2,915,388,471 |
2,882,186,085 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Revenues |
5,204,820,131 |
5,043,424,258 |
4,663,050,665 |
|
Operating
Expenses |
2,326,214,104 |
2,321,375,569 |
2,226,216,618 |
|
Operating
Income |
2,878,606,027 |
2,722,048,689 |
2,436,834,047 |
|
Non-Operating
Income |
138,378,564 |
111,120,988 |
48,110,008 |
|
Non-Operating
Expenses |
1,827,874,396 |
1,570,078,450 |
1,221,817,084 |
|
Income
Before Taxes |
1,189,110,195 |
1,263,091,227 |
1,263,126,971 |
|
Income
Taxes Expenses |
210,489,849 |
236,554,518 |
245,700,264 |
|
Net
Income |
978,620,346 |
1,026,536,709 |
1,017,426,707 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
1,580,328,191 |
1,912,216,026 |
2,243,262,871 |
|
-Net Income |
978,620,346 |
1,026,536,709 |
1,017,426,707 |
|
-Exp. without Cash Outflow |
914,240,518 |
914,240,518 |
914,240,518 |
|
-Revenue without Cash Inflows |
- |
- |
- |
|
-Changes in Asset/ & Liability |
-312,532,673 |
-28,561,201 |
311,595,646 |
|
Cash Flows from Investing |
-1,199,956,800 |
2,800,043,200 |
-5,199,956,800 |
|
-Cash Inflow from Investing |
- |
9,000,000,000 |
- |
|
-Cash Outflows for Investing |
-1,199,956,800 |
-6,199,956,800 |
-5,199,956,800 |
|
Cash Flows from Financing |
-280,800,640 |
-4,670,000,000 |
3,031,450,805 |
|
-Cash Inflows from Financing |
689,199,360 |
15,490,000,000 |
13,501,450,805 |
|
-Cash Outflows from Financing |
-970,000,000 |
-20,160,000,000 |
-10,470,000,000 |
|
Increase/Decrease in Cash |
99,570,751 |
42,259,226 |
74,756,876 |
|
Cash at the Beginning of Year |
166,669,646 |
124,410,420 |
49,653,544 |
|
Cash at the End of Year |
266,240,397 |
166,669,646 |
124,410,420 |
|
Main Products & Services |
Dioxide Titanium, Tanning Product, Real Estate Leasing Services |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
WE
INTERNATIONAL CO., LTD. RM. 1402,
BYEOKSAN GWANGHWAMUN SIDAE OFFICETEL, 74, NAESU-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-2195-4281~3 FAX:+82-2-2185-4280 TMC CO.,
LTD. NAJEON
INDUSTRIAL COMPLEX, 554-5, NAJEON-RI, SAENGNIM-MYEON, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-323-3663 FAX:+82-55-323-3687 NANO CO.,
LTD. 1108-1,
BONGGOK-RI, SABONG-MYEON, JINJU-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-762-8887 FAX:+82-55-755-6755 |
|
Affiliates |
WOOJIN FINE
CHEMICAL CO.(123-14-60948) |
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
The Subject exports
to China.
No.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.