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MIRA INFORM REPORT
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Report No. : |
486587 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
JT CORPORATION |
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Registered Office : |
7, Gukhoe-daero 70-gil, Yeongdeungpo-Gu,
Seoul, Korea, Rm. 302, Dong-a Bldg. 07238 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
18.01.2013 |
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Com. Reg. No.: |
107-87-86159 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
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No. of Employees : |
4 |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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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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
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 2016,
the economy experienced slow growth – 2%-3% per year - due to sluggish domestic
consumption, a drop in foreign demand for South Korean exports, increased
competition from regional rivals such as China and Japan, and declining
investment. The administration in 2016 faced the challenge of balancing heavy
reliance on exports with domestic restructuring efforts in the country’s shipbuilding
and shipping industries.
The South Korean economy's short-term challenges include a potential
loss of consumer confidence due to issues with its mobile phone industry, as
well as uncertainty stemming from a tumultuous domestic political situation. In
the long-term, South Korea must deal with a rapidly aging population,
inflexible labor market, dominance of large conglomerates (chaebols), and the
heavy reliance on exports, which comprise more than 40% of GDP. South Korea’s
low overall unemployment rate masks problems with high youth unemployment, low
worker productivity, high labor underutilization, and low female participation
in the workforce. The government has tried to implement structural reforms, but
continues to face significant headwind from vested interests. Finally, the
country could eventually face an unprecedented financial burden in the event
the unification of the Korean Peninsula were to occur.
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Source
: CIA |
Basic
Information
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Company Name |
JT CORPORATION (Korean Company Name
: “(주)제이티콥”) |
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Registered Address |
7, Gukhoe-daero 70-gil, Yeongdeungpo-gu,
Seoul, Korea |
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Building |
Rm. 302, Dong-a Bldg. |
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Zip Code |
07238 |
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Tel |
+82-70-7777-1812~3 |
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Fax |
+82-2-761-9373 |
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E-mail |
paul@jtcorporation.co.kr |
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Website |
www.jt-corp.co.kr |
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Trading Address |
Rm. 302, Dong-a Bldg., 7, Gukhoe-daero
70-gil, Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm. 302, Dong-a
Bldg., 14-2, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea) |
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Tel |
+82-70-7777-1810 |
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Fax |
+82-2-761-9373 |
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Other Address |
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Tel |
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Fax |
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Type |
Export/Import |
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Industry |
Wholesale of Other Chemical Materials and Chemical Products |
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Main Business |
Petrochemicals, Polyol, Polyurethane,
Solvents, Plastic & Paint Raw Materials, PE & PP, Solvent |
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Sub
Business |
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Established (mm/dd/yyyy) |
01/18/2013 |
Detailed
Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
CEO’s
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Name |
Kim Jun-Tae |
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Date of Birth |
01/18/1966 |
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Title |
President & CEO |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
300,000,000 |
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Employees |
4 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
110111-5048362 |
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Business Registered No. |
107-87-86159 |
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Permit & Licenses |
Int’l Trade No.: 30728161 |
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Shareholder Position |
N/A |
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Company History |
01/18/2013 Incorporated as the present name 02/10/2015 Decreased capital to 300,000,000
KRW from 500,000,000 KRW |
Detailed
Information
Management
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Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Kim Jun-Tae |
Korean |
01/18/1966 |
01/18/2013 |
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Director |
Park Hae-Jin |
Korean |
03/07/1968 |
01/18/2013 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2016 |
16,850,158,000 |
1,762,919,000 |
-150,838,000 |
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2015 |
15,580,032,000 |
1,799,078,000 |
221,676,000 |
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2014 |
25,582,747,000 |
790,334,000 |
41,989,000 |
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2013 |
30,112,432,000 |
1,805,448,000 |
162,640,000 |
Financial
Description
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Authorized Capital(KRW) |
2,000,000,000 |
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Paid-Up Capital(KRW) |
300,000,000 |
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Total Issued Shares |
60,000 |
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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 |
1,762,919,000 |
1,799,078,000 |
790,334,000 |
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Current Assets |
1,615,533,000 |
1,636,357,000 |
673,193,000 |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
147,386,000 |
162,721,000 |
117,141,000 |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
1,237,451,000 |
1,122,772,000 |
85,704,000 |
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Current Liabilities |
1,237,451,000 |
1,122,772,000 |
82,704,000 |
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Fixed Liabilities |
0 |
0 |
3,000,000 |
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Capital Stock |
300,000,000 |
300,000,000 |
500,000,000 |
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Capital Surplus |
0 |
0 |
0 |
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Profit Surplus |
225,468,000 |
426,306,000 |
204,630,000 |
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Capital Adjustment |
0 |
-50,000,000 |
0 |
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Total Equity |
525,468,000 |
676,306,000 |
704,630,000 |
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Liab. & Shareholder’s Equity |
1,762,919,000 |
1,799,078,000 |
790,334,000 |
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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 |
16,850,158,000 |
15,580,032,000 |
25,582,747,000 |
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Cost of Sold Goods |
16,094,867,000 |
14,395,891,000 |
24,450,138,000 |
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Gross Profit |
755,291,000 |
1,184,141,000 |
1,132,609,000 |
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Selling & Admin. Expenses |
941,246,000 |
977,788,000 |
1,119,242,000 |
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Operating Income |
185,955,000 |
206,353,000 |
13,367,000 |
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Non-Operating Income |
345,018,000 |
209,233,000 |
188,760,000 |
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Non-Operating Expenses |
309,901,000 |
169,003,000 |
159,031,000 |
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Income Before Taxes |
150,838,000 |
246,583,000 |
43,096,000 |
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Income Taxes Expenses |
0 |
24,907,000 |
1,107,000 |
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Net Income |
150,838,000 |
221,676,000 |
41,989,000 |
Products,
Technologies, Services Description
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Main Products & Services |
Chemicals, Polyol |
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Detailed Products Spec. |
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Technologies Acquired |
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Trade
Partners & Competitors
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Suppliers |
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Customers |
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Competitors |
SAMI TRADING INC. B-707, SAMSUNG TRAPALACE, 559, DOHWA-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-3272-9912 FAX:+82-2-3272-9971 WOORI P & C CORPORATION RM. 905, OLYMPIA BLDG., 196,
JAMSILBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3432-2800 FAX:+82-2-3432-4695 HANYONG CORPORATION RM. 814, MILLIANA 2-CHA OFFICETEL, 79-5,
GARAKBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3401-9850 FAX:+82-2-3401-9870 |
Sales
by Region (Activity & Markets)
The Subject exports
to Dubai, Saudi Arabia, Kuwait, Singapore and Thailand.
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 63.41 |
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|
1 |
INR 87.17 |
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Euro |
1 |
INR 77.45 |
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KRW |
1 |
INR 0.060 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
TPT |
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.