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MIRA INFORM REPORT
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Report No. : |
502566 |
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Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
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Name : |
C.K TEXTILE CO. |
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Registered Office : |
17,
Jwacheondong-Ro, Dong-Gu, Busan, Korea 48771 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
30.06.1997 |
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Com. Reg. No.: |
604-01-28957 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture, Wholesales and Retails of Working Clothes
and Similar Garments. |
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No. of Employees : |
7 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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South Korea |
A2 |
A2 |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
After emerging from the 1950-53 war
with North Korea, South Korea emerged as one of the 20th century’s most
remarkable economic success stories, becoming a developed, globally connected,
high-technology society within decades. In the 1960s, GDP per capita was
comparable with levels in the poorest countries in the world. In 2004, South
Korea joined the trillion-dollar club of world economies.
Beginning in the 1960s under President
PARK Chung-hee, the government promoted the import of raw materials and technology,
encouraged saving and investment over consumption, kept wages low, and directed
resources to export-oriented industries that remain important to the economy to
this day. Growth surged under these policies, and frequently reached
double-digits in the 1960s and 1970s. Growth gradually moderated in the 1990s
as the economy matured, but remained strong enough to propel South Korea into
the ranks of the advanced economies of the OECD by 1997. These policies also
led to the emergence of family-owned chaebol conglomerates such as Daewoo,
Hyundai, and Samsung, which retained their dominant positions even as the
government loosened its grip on the economy amid the political changes of the
1980s and 1990s.
The Asian financial crisis of 1997-98 hit
South Korea’s companies hard because of their excessive reliance on short-term
borrowing, and GDP ultimately plunged by 7% in 1998. South Korea tackled
difficult economic reforms following the crisis, including restructuring some
chaebols, increasing labor market flexibility, and opening up to more foreign
investment and imports. These steps lead to a relatively rapid economic
recovery. South Korea also began expanding its network of free trade agreements
to help bolster exports, and has since implemented 16 free trade agreements
covering 58 countries—including the United State and China—that collectively
cover more than three-quarters of global GDP.
In 2017, the election of President MOON
Jae-in brought a surge in consumer confidence, in part, because of his
successful efforts to increase wages and government spending. These factors
combined with an uptick in export growth to drive real GDP growth to more than
3%, despite disruptions in South Korea’s trade with China over the deployment
of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will
contend with gradually slowing economic growth - in the 2-3% range - not
uncommon for advanced economies. This could be partially offset by efforts to
address challenges arising from its rapidly aging population, inflexible labor
market, continued dominance of the chaebols, and heavy reliance on exports
rather than domestic consumption. Socioeconomic problems also persist, and
include rising inequality, poverty among the elderly, high youth unemployment,
long working hours, low worker productivity, and corruption.
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Source
: CIA |
Basic
Information
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Company Name |
C.K TEXTILE CO. |
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Registered Address |
17,
Jwacheondong-ro, Dong-gu, Busan, Korea |
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Building |
-- |
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Zip Code |
48771 |
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Tel |
+82-51-644-6938 |
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Fax |
+82-51-644-6939 |
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E-mail |
cktextile@hanmail.net |
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Website |
-- |
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Trading Address |
17, Jwacheondong-ro, Dong-gu, Busan, Korea (Old Address System : 819-8,
Jwacheon-dong, Dong-gu, Busan, Korea) |
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Tel |
+82-51-644-6938 |
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Fax |
+82-51-644-6939 |
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Type |
Export/Import |
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Industry |
Manufacture, Wholesales and Retails of Working Clothes
and Similar Garments |
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Main Business |
Cotton & Polyester Fabrics, Hospital Uniform and Linen |
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Sub
Business |
-- |
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Established (mm/dd/yyyy) |
06/30/1997 |
Detailed
Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Uniforms(53102700) |
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Sell |
Corporate uniforms(53102710) |
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Sell |
Clothing(53100000) |
CEO’s
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Name |
Cho In-Suk |
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Date of Birth |
-- |
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Title |
Owner |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
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Employees |
7 |
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Formation |
Sole Proprietorship |
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Bank Details |
Kookmin Bank-Busan Jin Branch |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
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Business Registered No. |
604-01-28957 |
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Permit & Licenses |
N/A |
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Shareholder Position |
The owner(s) has 100% shares. |
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Company History |
06/30/1997 Established as the present name |
Management
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Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
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Owner |
Cho In-Suk |
Korean |
|
06/30/1997 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2016 |
1,690,750,000 |
400,254,000 |
78,064,000 |
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2015 |
2,001,610,000 |
532,273,000 |
102,157,000 |
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2014 |
1,655,025,000 |
462,988,000 |
72,263,000 |
Financial
Description
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Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
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Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
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Total Issued Shares |
Not Applicable to the Sole Proprietorship |
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Balance Sheet |
|||
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Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
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Total Assets |
400,254,000 |
532,273,000 |
462,988,000 |
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Current Assets |
341,384,000 |
477,865,000 |
385,350,000 |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
58,870,000 |
54,408,000 |
77,638,000 |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
120,112,000 |
580,195,000 |
171,068,000 |
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Current Liabilities |
120,112,000 |
580,195,000 |
171,068,000 |
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Fixed Liabilities |
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Capital Stock |
280,142,000 |
-47,922,000 |
291,920,000 |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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Total Equity |
280,142,000 |
-47,922,000 |
291,920,000 |
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Liab. & Shareholder’s Equity |
400,254,000 |
532,273,000 |
462,988,000 |
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Income Statement |
|||
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Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
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Sales |
1,690,750,000 |
2,001,610,000 |
1,655,025,000 |
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Cost of Sold Goods |
1,375,905,000 |
1,638,247,000 |
1,331,279,000 |
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Gross Profit |
314,845,000 |
363,363,000 |
323,746,000 |
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Selling & Admin. Expenses |
213,555,000 |
243,413,000 |
233,184,000 |
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Operating Income |
101,290,000 |
119,950,000 |
90,562,000 |
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Non-Operating Income |
10,085,000 |
7,745,000 |
78,000 |
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Non-Operating Expenses |
10,826,000 |
13,761,000 |
8,105,000 |
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Income Before Taxes |
100,549,000 |
113,934,000 |
82,535,000 |
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Income Taxes Expenses |
22,485,000 |
11,777,000 |
10,272,000 |
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Net Income |
78,064,000 |
102,157,000 |
72,263,000 |
Products, Technologies, Services
Description
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Main Products & Services |
Cotton & Polyester Fabrics, Hospital Uniform and Linen |
Trade
Partners & Competitors
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Suppliers |
-- |
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Customers |
-- |
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Competitors |
APROPOS CO., LTD. RM. 1506, HANWHA BIZ METRO 1-CHA, 449-4,
GAYANG 3-DONG, GANGSEO-GU, SEOUL, KOREA TEL:+82-2-715-5855 FAX:+82-2-715-8788 VEGA CORPORATION 1125, BONGGI-RI, PUNGGAK-MYEON,
CHEONGDO-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-371-6835 FAX:+82-54-371-6838 KC CORPORATION RM. 1502, NEW SEOUL BLDG., 62-7, CHUNGMURO
2-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-319-1133 FAX:+82-2-319-5300 |
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Sales
by Region (Activity & Markets)
Not Available.
Court
Action
Not Available.
News
Clipping
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 64.99 |
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|
1 |
INR 90.96 |
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Euro |
1 |
INR 79.51 |
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KRW |
1 |
INR 0.061 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.