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Report No. : |
347998 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAKYUNG AGRICULTURAL CO., LTD. |
|
|
|
|
Registered Office : |
639, Daesan-ro, Bubal-eup, Icheon-si,
Gyeonggi-do, Korea, 17322 |
|
|
|
|
Country : |
South
Korea |
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|
|
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Financials (as on) : |
31.12.2014 |
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|
|
|
Date of Incorporation : |
15.06.2005 |
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|
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Com. Reg. No.: |
132-81-61282 |
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|
|
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Legal Form : |
Co., Ltd by Shares Agricultural Corporation |
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|
|
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Line of Business : |
Wholesales and Retails of Other Processed and Prepared Food |
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|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 351543 |
|
Status : |
Moderate |
|
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 – 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. 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 |
|
Company Name |
DAKYUNG AGRICULTURAL CO., LTD. (Korean Company Name : “농업회사법인(주)다경”) |
|
Registered Address |
639, Daesan-ro, Bubal-eup, Icheon-si,
Gyeonggi-do, Korea |
|
Building |
|
|
Zip Code |
17322 |
|
Tel |
+82-31-634-0604 |
|
Fax |
+82-31-634-0668 |
|
E-mail |
bpsdk@naver.com |
|
Website |
www.dakyung.co.kr |
|
Trading Address |
639, Daesan-ro, Bubal-eup, Icheon-si,
Gyeonggi-do, Korea (Old Address System : 311, Sanchon-ri, Bubal-eup, Icheon-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-634-0604 |
|
Fax |
+82-31-634-0668 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Wholesales and Retails of Other Processed and Prepared Food |
|
Main Business |
Agricultural Products, Food, Dried Fruit, Nuts, Stockfish |
|
Sub Business |
|
|
Established (mm/dd/yyyy) |
06/15/2005 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Fruits and vegetables and nuts and seeds(50100000) |
|
Name |
Chun Ki-Gon |
|
Address |
639, Daesan-ro, Bubal-eup, Icheon-si, Gyeonggi-do, Korea |
|
Date of Birth |
06/02/1962 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
400,000,000 |
|
Employees |
40 |
|
Formation |
Co., Ltd by Shares Agricultural Corporation |
|
Bank Details |
Shinhan Bank(A/C No.: 100-021-311696) |
|
Corporate Registered No. |
284111-0056642 |
|
Business Registered No. |
132-81-61282 |
|
Permit & Licenses |
07/23/2008 HACCP |
|
Shareholder Position |
N/A |
|
Company History |
06/15/2005 Incorporated as Donghyun Corporation 01/03/2007 Changed company name to ADF Co., Ltd. 01/03/2007 Moved to the present HQ address from 97, Yeonpyeong-ri,
Jinjeop-eup, Namyangju-si, Gyeonggi-do, Korea 09/01/2010 Changed company name to
Dakyungwon Co., Ltd. 12/06/2011 Designated as a MAIN-BIZ Company 04/24/2012 Changed company name to Dakyung Co.,
Ltd. 10/21/2013 Increased the authorized shares
to 160,000 shares from 10,000 shares 05/21/2014 Changed company name to the
present name 08/13/2014 Increased capital to 400,000,000
KRW from 200,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Chun Ki-Gon |
Male |
Korean |
09/01/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
22,255,501,000 |
3,695,474,000 |
217,118,000 |
|
2013 |
5,224,513,000 |
3,347,015,000 |
100,619,000 |
|
2012 |
5,553,082,000 |
1,387,056,000 |
65,212,000 |
|
2011 |
4,371,410,000 |
N/A |
31,380,000 |
|
2010 |
1,036,440,000 |
N/A |
10,360,000 |
|
Authorized Capital(KRW) |
800,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issued Shares |
80,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
3,695,474,000 |
3,347,015,000 |
1,387,056,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
2,866,721,000 |
2,924,096,000 |
1,207,404,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
400,000,000 |
200,000,000 |
50,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
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Total Equity |
828,753,000 |
422,919,000 |
179,652,000 |
|
Liab. & Shareholder’s Equity |
3,695,474,000 |
3,347,015,000 |
1,387,056,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
22,255,501,000 |
5,224,513,000 |
5,553,082,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
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Operating Income |
321,742,000 |
117,171,000 |
86,631,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
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Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
217,118,000 |
100,619,000 |
65,212,000 |
|
Main Products & Services |
Agricultural Products, Food, Dried Fruit, Nuts, Stockfish |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
HYUNDAI HOME SHOPPING NETWORK CORPORATION(110111-2248882) NOLBOO CO., LTD.(110111-0667167) WELLGA INC.(184511-0000379) LOTTE FOOD CO., LTD.(110111-0033722) HITE BREWERY CO., LTD.(110111-3927427) |
|
Competitors |
SEOBU FRUIT & VEGETABLE CO., LTD. 427, OEBALSAN-DONG, GANGSEO-GU, SEOUL,
KOREA TEL:+82-2-2640-8000 FAX:+82-2-2640-6868 BUSAN FRUIT & VEGETABLE CO., LTD. 649, EOMGUNG-DONG, SASANG-GU, BUSAN, KOREA TEL:+82-51-320-5000 FAX:+82-51-320-5171 FRUTERIA INC. RM.406, GEOBUKI OFFICETEL, 98-7,
GARAK-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-403-5260 FAX:+82-2-403-5262 |
|
Affiliates |
HOME IN FARM AGRICULTURAL CO.,
LTD.(134411-0062628) |
Not Available.
Not Available.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.