Korea Comprehensive Report Sample KOREA Co., Ltd. :

Transcription

Korea Comprehensive Report
KOREA COMPREHENSIVE REPORT
Sample KOREA Co., Ltd.
D-U-N-S: 68-845-1780
Prepared for
:
TSR
Inquiry Date
:
Apr. 16, 2008
Delivery Date
:
Apr. 27, 2008
Note:
1. The information in Korea Comprehensive Report was mainly obtained from a third party source. D&B reviews, verifies
and enriches the information by checking historic records in D&B database, public media records, governmental files
and/or conducting management interviews with subject.
2. This report, which is licensed under contract solely for use by D&B's customer as one factor in its business decisions,
contains information compiled from sources D&B does not control and which, unless otherwise indicated in this report,
have not been verified. D&B does not assume any of user's business risk; does not guarantee the accuracy,
completeness, and timeliness of the information; and shall not be liable in tort, contract or otherwise for any loss,
damage, and injury resulting from use of this information, even if caused by D&B's negligence.
3. Please contact your local customer service center if you are not able to see this report using your application.
NICE D&B Co., Ltd.
15th FL., Credit Center Bldg. 686, Ahyeon-dong, Mapo-gu, Seoul, 121-709, Korea
COMPANY DETAILS
SAMPLE KOREA CO., LTD.
D-U-N-S
68-845-1780
ADDRESS
124-8, Seocho-dong, Seocho-gu, Seoul, Korea
TEL
822-32811234
FAX
822-32810100
URL
www.sample1234.co.kr
Chief Executive
Hong, Gil Dong
President
Line of Business
Manufacture of Apparel
SIC
2341-0000
Started
1999
Registered
1999
Paid Up Capital
1,395,000,000
Import
Yes
Sales
3,291,000,000
Export
Yes
Tangible Net Worth
4,762,000,000
Employs
21
History
CLEAR
Condition
FAIR
Trend
EVEN
D&B Rating
(Prev. D&B Rating)
CLIP Risk Analysis
(Prev. CLIP Risk Analysis)
: 3A3
AA3
: BB
Not Applicable
CURRENCY : All Monetary shown in KOREAN MILLION WON unless otherwise stated.
Exchange Rate of The Latest Fiscal Year (as of Dec. 31st 2007) : 938.20 KRW/USD
NICE D&B Co., Ltd.
1
CURRENT INVESTIGATION
On Apr 19, 2008, Mr. Hong, Gil Dong, president of the subject, submitted financial statement and confirmed
operational and historical information.
EXECUTIVE SUMMARY
The D&B Rating for the subject is 3A3 which indicates a tangible net worth between KRW1,065,000,000 and
KRW 7,102,999,999, and an overall credit condition which is considered FAIR.
The CLIP Risk Analysis for the subject is BB. Based on this Analysis, the subject is judged to “Moderate level of
credibility for short-term business. However, possessed with relatively negative factors in business stability for the
future.” According to the peer group analysis, credibility of the subject is in above the average, which was
analyzed to be within top 20% among peer group.
Subject company is a company limited by shares established in 1999 with 21 employees.
Subject company's registered capital is KRW 1,395 mil.
Subject company has 1 media record in the past 12 months.
Operations are profitable operations based on its 2007 financial statement.
Parent Sample Co.(687965556) is the parent company of the subject.
MEDIA RELEASE
Date
Jan, 26th 2008
Source
Korea English Times
Details
Faide Designer Gets Versailles Accolade
Kim, Mi-Sook, who designs apparel for Faide, an Sejin’s PB brand, has become the second
Asian to be invited to participate in the Paris International Apparel Show.
NICE D&B Co., Ltd.
2
CLIP Risk Analysis
CLIP Creditability
No Grade
Watchful
Usual
Superior
CLIP Risk Analysis
Upper 20%
BB
Ind. Avg.
The Subject
Lower 20%
(As of Apr. 27 2008)
D
C
CC
CCC
B
BB
Brief Financial Summary
Item
2005.12
2006.12
BBB
A
AA
AAA
(Unit : %, Time)
2007.12
Financial Ratios
2005.12
2006.12
2007.12
Total Assets
6,321
6,357
6,560
Total Assets
Turnover
0.5
0.5
0.5
Total SH’ Equity
4,747
4,917
4,778
SHs' Equity to
Total Assets
75.1
77.3
72.8
Capital Stock
1,395
1,395
1,395
Working Capital
Turnover
3.2
2.8
2.7
14.1
15.7
18.7
2.4
1.9
2.2
Growth Rate of
Sales
-20.9
-4.3
5.3
Total Borrowings
Total Borrowings
890
996
1,224
and Debentures
Payables to Total
Assets
Financial Exp. to
Sales
79
58
72
3,268
3,126
3,291
Operating
Income
399
252
270
Operating Income
to Sales
12.2
8.1
8.2
Net Income
296
170
141
Net Income
to Sales
9.0
5.4
4.3
Financial Exp.
Sales
*Note: CLIP stands for Credit Level Investigation for Partners.
The Clip Analysis and the Weighted Grand Total come out through the specialized evaluation system embedding a specific
formula considering key ratios and full mark which are applied differently on the industry the subject operates in. In case of F/S
unavailable, the CLIP Risk Analysis will be assigned by the SME (small-medium enterprise) Model.
*SME Model: Evaluate the small-medium enterprise with credit score system of its representative and company’s basic profile
model.
NICE D&B Co., Ltd.
3
FINANCE
Balance Sheet
Account
(Unit : KRW Mil., %)
2005.12
Amount
2006.12
% Growth
Amount
2007.12
%
Growth
Current Assets
Quick Assets
Cash & Cash Equivalent
S/T Investments
Trade Receivables
Other Receivables
Advance Payments
Prepaid Expense
Other Quick Assets
Inventories
2,130
1,649
120
601
714
15
0
22
176
481
33.7
26.1
1.9
9.5
11.3
0.2
0.0
0.3
2.8
7.6
-12.8
-18.0
346.7
-14.2
-6.0
-60.1
221.5
-62.5
11.5
2,571
2,000
860
0
842
44
0
11
243
570
40.4
31.5
13.5
0.0
13.2
0.7
0.0
0.2
3.8
9.0
20.7
21.3
614.7
-100.0
17.9
194.5
-51.0
37.5
18.7
Amount
3,190
2,568
1,058
214
968
14
78
12
224
622
48.6
39.1
16.1
3.3
14.7
0.2
1.2
0.2
3.4
9.5
%
Growth
24.1
28.4
23.0
14.9
-69.1
12.3
-7.7
9.1
Non-current Assets
Investments
L/T Financial Instruments
Other Investments
Tangible Assets
Land
Assets for Depreciation
Construction in-Progress
Other Tangible Assets
Intangible Assets
Other Non-current Assets
4,191
385
385
0
3,149
889
2,236
0
23
20
637
66.3
6.1
6.1
0.0
49.8
14.1
35.4
0.0
0.4
0.3
10.1
4.4
-41.3
-41.3
2.2
0.0
3.6
-26.8
-11.3
148.7
3,786
152
150
2
2,979
889
2,075
0
15
17
637
59.6
2.4
2.4
0.0
46.9
14.0
32.6
0.0
0.2
0.3
10.0
-9.7
-60.5
-61.0
499.4
-5.4
0.0
-7.2
-36.6
-12.7
0.0
3,371
726
0
726
2,628
889
1,716
15
8
15
0
51.4
11.1
0.0
11.1
40.1
13.6
26.2
0.2
0.1
0.2
0.0
-11.0
377.6
-100.0
-11.8
-0.0
-17.3
-46.8
-14.6
-100.0
0
0.0
-
0
0.0
-
0
0.0
-
Total Assets
6,321
100
-2.1
6,357
100
0.6
6,560
100
3.2
Current Liabilities
Trade Payables
Short Term Borrowings
Advance Receipts
Accrued Expenses
Accrued Income Taxes
Current Portion of L/T Liabilities
Other Current Liabilities
1,018
171
448
0
38
0
0
361
16.1
2.7
7.1
0.0
0.6
0.0
0.0
5.7
11.0
2.6
-19.0
676.8
-5.2
130.0
1,146
239
819
1
40
0
0
47
18.0
3.8
12.9
0.0
0.6
0.0
0.0
0.7
12.5
40.0
82.7
112.4
4.9
-87.1
1,665
285
1,224
0
42
0
0
113
25.4
4.3
18.7
0.0
0.6
0.0
0.0
1.7
45.3
19.1
49.4
-75.6
6.6
141.8
556
0
441
92
23
8.8
0.0
7.0
1.4
0.4
-35.7
-42.8
30.6
0.0
294
0
177
95
23
4.6
0.0
2.8
1.5
0.4
-47.1
-60.0
3.4
0.0
118
0
0
95
23
1.8
0.0
0.0
1.4
0.4
-60.0
-100.0
-0.1
0.0
Total Liabilities
1,574
24.9
-11.7
1,440
22.7
-8.5
1,782
27.2
23.8
Capital Stock
Capital Surplus
Retained Earnings
(Net Income)
Capital Adjustments
Other Accu. Comprehensive Income
1,395
0
3,352
296
0
0
22.1
0.0
53.0
4.7
0.0
0.0
0.0
2.2
-69.1
-
1,395
0
3,522
170
0
0
21.9
0.0
55.4
2.7
0.0
0.0
0.0
5.1
-42.6
-
1,395
0
3,383
141
0
0
21.3
0.0
51.6
2.1
0.0
0.0
0.0
-3.9
-17.1
-
Total Stockholders’ Equity
4,747
75.1
1.5
4,917
77.3
3.6
4,778
72.8
-2.8
Total Liabilities & Capital
6,321
100
-2.1
6,357
100
0.6
6,560
100
3.2
Housing Assets for Rent
Non-current Liabilities
Debentures
Long-Term Borrowings
Provision for S&R Benefits
Other Non-Current Liabilities
NICE D&B Co., Ltd.
4
890
Total Borrowings *
14.1
-32.9
996
15.7
11.9
1,224
18.7
22.9
*NOTE: Total borrowings include Long-Term Trade Payables and Long-Term Accounts Payable.
Income Statement
2005.12
2006.12
2007.12
Account
Amount
%
Sales
3,268
100.0
-20.9
3,126
100.0
-4.3
3,291
100.0
5.3
Cost of Sales
2,267
69.4
-4.3
2,321
74.2
2.4
2,353
71.5
1.4
Gross Income
1,001
30.6
-43.2
805
25.8
-19.5
938
28.5
16.5
602
18.4
-7.1
553
17.7
-8.1
668
20.3
20.9
294
9.0
4.6
307
9.8
4.5
313
9.5
1.8
S&R Benefits
35
1.1
-32.4
20
0.6
-43.2
28
0.9
43.2
Employee Benefits
36
1.1
-12.8
30
1.0
-15.9
22
0.7
-27.1
Taxes And Dues
18
0.6
16.0
21
0.7
16.6
20
0.6
-3.9
0
0.0
-
0
0.0
-
0
0.0
-
81
2.5
-22.1
39
1.2
-52.2
81
2.5
107.6
Advertising Expense
8
0.3
341.9
20
0.6
144.6
14
0.4
-30.6
Bad Debt Expenses
4
0.1
806.1
0
0.0
-100.0
27
0.8
-
125
3.8
-17.1
116
3.7
-7.6
169
5.1
46.0
399
12.2
-64.2
252
8.1
-36.7
270
8.2
6.9
91
2.8
-38.6
63
2.0
-31.0
17
0.5
-72.9
85
2.6
-39.6
52
1.7
-38.7
13
0.4
-75.6
S&A Expenses
Salaries
Rent
Depreciation
Others
Operating Income
Non-Operating Income
Interest Income
Growth
Amount
%
Growth
Amount
%
Growth
Dividends Income
0
0.0
-
0
0.0
-
0
0.0
-
Gains On Foreign
Currency Transaction
2
0.1
-63.0
4
0.1
105.0
3
0.1
-24.7
Others
4
0.1
59.2
7
0.2
63.4
2
0.0
-78.3
111
3.4
-5.7
101
3.2
-8.7
121
3.7
19.2
79
2.4
33.6
58
1.9
-26.3
72
2.2
24.2
4
0.1
-49.3
7
0.2
69.0
5
0.2
-21.0
28
0.9
-44.3
37
1.2
29.2
44
1.3
18.9
379
11.6
-66.9
214
6.8
-43.5
166
5.0
-22.5
83
2.6
-55.7
44
1.4
-46.7
25
0.8
-42.9
296
9.0
-69.1
170
5.4
-42.6
141
4.3
-17.1
0
0.0
-
0
0.0
-
0
0.0
-
296
9.0
-69.1
170
5.4
-42.6
141
4.3
-17.1
Non-Operating Expenses
Interest Expense
Losses On Foreign
Currency Transaction
Others
Ongoing Biz. Income
Before Income Taxes
Income Tax Expenses for
Ongoing Biz. Income
Ongoing Biz. Income
Discontinued Biz. Income
Net Income
Auditor’s Opinion & Source of F/S : Unaudited
NICE D&B Co., Ltd.
5
Manufacturing Cost Statement
2005.12
2006.12
2007.12
Account
Amount
%
Growth
Amount
%
Growth
Amount
%
Growth
1,793
71.3
1.2
1,541
68.7
-14.1
1,563
66.6
1.4
299
11.9
28.4
276
12.3
-7.8
350
14.9
27.1
286
11.4
24.3
271
12.1
-5.4
331
14.1
22.3
0
0.0
-
0
0.0
-
0
0.0
-
423
16.8
26.8
426
19.0
0.6
434
18.5
2.0
241
9.6
115.3
252
11.2
4.6
178
7.6
-29.5
Taxes And Dues
11
0.5
98.7
9
0.4
-22.8
11
0.5
22.6
Employee Benefits
29
1.2
-24.1
26
1.2
-10.2
40
1.7
53.1
0
0.0
-
0
0.0
-
0
0.0
-
36
1.4
-26.3
37
1.6
2.1
0
0.0
-100.0
106
4.2
-17.8
102
4.6
-3.3
206
8.8
100.7
2,516
100.0
7.6
2,242
100.0
-10.9
2,348
100.0
4.7
11
0.4
-
128
5.7
1,049.4
189
8.1
48.4
128
5.1
1,049.4
189
8.4
48.4
69
2.9
-63.7
0
0.0
-
0
0.0
-
0
0.0
-
2,399
95.4
3.1
2,181
97.2
-9.1
2,468
105.1
13.2
98
3.9
-30.1
230
10.3
135.0
90
3.8
-60.9
0
0.0
-
0
0.0
-
0
0.0
-
230
9.1
135.0
90
4.0
-60.9
205
8.7
128.4
2,267
90.1
-4.3
2,321
103.5
2.4
2,353
100.2
1.4
Cost of Materials
Labor Costs
Salaries
Severance And
Retirement Benefits
Expenses
Depreciation
Rent
Outside Processing
Expense
Others
Total Mfg. Overhead
Beginning Work-in
Process
Ending Work-in Process
Transfers-In
Cost of Goods
Manufactured During the
Year
Beginning Inventory
Transfers-In
Ending Work-In Process
Cost of Sales
NICE D&B Co., Ltd.
6
Financial Ratios
(Unit : %, Time)
Item
<Profitability>
Arithmetic Expression
2006.12
2007.12
Avg. of
same Ind.
(%)
Net Income to SHs’ Equity
Net Income/SH’s Equity x 100
3.5
2.9
12.4
Net Income to Total Assets
Net Income/Total Assets x 100
2.7
2.2
8.0
Net Income to Sales
Net Income/Sales x 100
5.4
4.3
7.6
Fixed-Charge Coverage (Times)
(Financial Exp.+ Net Income Before Income
Taxes)/Financial Exp.
4.7
3.3
-
Financial Exp. to Sales
Financial Exp./Sales x 100
1.9
2.2
0.8
Cost of Sales to Sales
Cost of Sales/Sales x 100
74.2
71.5
80.0
(Capital Surplus+R/E)/ SHs' Equity x 100
71.6
70.8
-
8.1
8.2
7.3
Capital Surplus and R/E to SHs’
Equity
Operating Income to Sales
<Stability>
Operating Income/Sales x 100
(%)
Current Ratio
Current Assets/Current Liabilities x 100
224.4
191.6
137.8
Non-current Assets to SHs'
Equity & Non-current Liab.
Non-current Assets / (SHs' Equity + Noncurrent Liabilities) x 100
72.7
68.8
89.0
Debt to Equity Ratio
Total Liabilities/SHs' Equity x 100
29.3
37.3
56.1
SHs' Equity to Total Assets
SHs' Equity/Total Assets x 100
77.3
72.8
64.1
Total Borrowings/Total Assets x 100
15.7
18.7
14.0
Quick Assets/Current Liabilities x 100
174.6
154.2
109.4
Sales/Average of Working Capital
2.8
2.7
11.7
Trade Payables Turnover
Sales/Average of Trade Payables
15.2
12.6
16.2
Trade Receivables Turnover
Sales/Average of Trade Receivables
4.0
3.6
11.8
Inventories Turnover
Sales/Average of Inventories
5.9
5.5
16.0
Total Assets Turnover
Sales/Average of Total Assets
0.5
0.5
1.0
3.6
-2.8
10.8
-36.7
6.9
-
0.6
3.2
12.3
-4.3
5.3
6.3
Total Borrowings and Debentures
Payables to Total Assets
Quick Ratio
<Turnover Ratios>(Times)
Working Capital Turnover
<Growth Ratios>
(%)
Growth Rate of SHs’ Equity
Growth Rate of Operating Income
Growth Rate of Total Assets
Growth Rate of Sales
SHs' Equity in this term/SHs' Equity in former
term x 100-100
Operating Income in this term/Operating
Income in former term x 100-100
Total Assets in this term/Total Assets in former
term x 100-100
Sales in this term/Sales in former term x 100100
*Note: Source of Industrial Average : THE BANK OF KOREA (D18000) Sewn wearing apparel and fur articles (All Enterprise), The
Average of the fiscal year 2006
NICE D&B Co., Ltd.
7
FINANCIAL ANALYSIS
The subject sells most of products through home shopping companies and powered up by average growth of home
shopping market since 2006, the subject is showing continuous upward tendency in its sales and assets.
The subject, powered up by sales increase of ‘Faide’, SEJIN’s PB brand, recorded sales increase of 5.3% in 2007.
Despite internal reservation of continuous retained earnings resulting from net profit, due to the increase in liabilities
created by the expansion of short term borrowing, overall financial stability was rather degraded. Stockholders' equity
to total assets decreased from 77.3% of FY2006 to 72.8% in FY2007, and debt to equity ratio increased from 29.3% in
2006 to 37.3% in 2007.
The subject company funded most capital requirements mainly by the net cash generated from the operating activities,
and some by the external borrowings.(S/T borrowings : KRW 1,490 mil. as of investigation date.)
Meanwhile, financial summary of Sehoon Industry (President Park, Han Kuk) responsible for manufacturing of the
product is as follows: (Unit: Mil. KRW)
FY
Total Asset
Sales
Net Income
Net-Worth
2006
548
1,003
40
88
2007
433
630
27
115
INDUSTRY HIGHLIGHTS
Women’s apparel product emphasizes the function of each part, demanding production technology and plans along
with material development. Therefore, women’s apparel industry is comparatively more difficult to enter the market
than other Industries. In case of new enterprises, they are trying to enter the market through import of foreign brands.
Production system is converting into minimum production of multiple-items, which can correspond rapidly to the
changes in demands in the market. Circulation structure promotes massiveness and professionalism of the store
focusing on department stores and specializing shops. It is understood to perform priced brand sales strategy.
Consumption of women’s apparel is in a stage of stabilizing as a fashion good. Different from simple and similar
design, unique design, and different color, lighter and high-grade material are tactics to satisfy consumers.
As so, apparel has become general and its demand has converted into product of high quality and value. Therefore,
development of women’s apparel industry is relatively stable.
NICE D&B Co., Ltd.
8
BANK
The company maintains relationship(s) with the following bank(s) in Korea:
Industrial Bank Of Korea(IBK)
Guro Industrial Complex Branch
Kookmin Bank
Seocho Branch
As of Apr. 16th, 2008(Unit: KRW, Mil.)
Borrowings
Creditor
Long Term
IBK
Kookmin Bank
Short Term
Discounted Notes
Limit
Balance
Remark
1,490
500
DETRIMENTAL INFORMATION
As of Apr. 16th, 2008 (Unit: KRW, Mil.)
Subject Company
Date of Event
Initial Date
Dissolution Date
No. of Note
No. of Institutes
Total Amount
The Reason of detrimental information
Principal
Date of Event
Initial Date
Dissolution Date
No. of Note
No. of Institutes
Total Amount
The Reason of detrimental information
29/09/2006
03/10/2006
01/10/2006
06/10/2006
31/12/2006
2
2
12
Arrears, Subrogation
29/01/2006
02/02/2006
15/06/2006
03/02/2006
08/02/2006
30/06/2006
Not Applicable
3
3
44
Subrogation, Substitute Payment, Arrears.
Note : Detrimental Information is sourced from National Information & Credit Evaluation (NICE) Ltd. which is an
authorized Credit Bureau in Korea with more than 160 financial and non-financial institutions such as banks, credit
card companies, capital, leasing, factoring, distribution companies and many others including Federation of Banks,
contributing their data into NICE Credit Bureau. NICE collates various kinds of negative information such as
bankruptcy, payment delinquency, etc.
Date of Event : The date which major detrimental information occurred
NICE D&B Co., Ltd.
9
Initial Date : The date in which such relevant financial organization as banks, and credit card companies provided
the negative information with NICE, an authorized CB(Credit Bureau) in Korea
Dissolution Date : The date of detrimental information dissolved
No. of Note : Total number of negative credit event
No. of Institutes : Total number of financial organizations such as banks, credit card companies which disclosed
detrimental information
Total Amount : The sum of Arrears, Subrogation, Substitute Payment, and etc
The Reason of detrimental information : Description of detrimental information
HISTORY
Registration Date
Corporate Registration No.
Business Registration No.
Registered Capital
Net Worth
Business Start Year
Legal Status
:
:
:
:
:
:
:
Aug. 30th 1999
1101111762487
1138155232
50 mil.
464 mil.
1999
Company Limited by shares
:
:
:
:
Founded
Acquired Hansung Co., Ltd.
Renamed to Sample Korea Co., Ltd.
Acquired ISO9002 Certification
Other key event
Sep. 1st 1999.
Aug. 2nd 1999.
Dec. 10th 1999.
Jul. 26th 2000.
Shareholders’ List
Name of SH
Parent Sample Co.
Hong, Gil Dong
Hong, Gil Soo
Kim, Yeon Hee
Lee, Won Han
Total
No. of Shares
69,750
27,900
13,950
13,950
13,950
139,500
Ratio(%)
50.0
20.0
10.0
10.0
10.0
100.0
Amount(KRW Mil.)
698
279
140
139
139
1,395
Relation with Majority SH
Majority Shareholder
President
President’s Siblings
President’s Wife
Other
NICE D&B Co., Ltd.
10
PRINCIPALS
Details of director(s) are listed as follows:
Name(ENG)
: Hong, Gil Dong
Gender
: Male
Date of Birth
: Sep. 23th 1962
Title
: President & CEO
Education Level
: Suwon High School
Started with Subject
: 1999
Activity Status
: Active in day-to-day operations
Area of Responsibility
: Overall Management
Employment History
Period
1998-present
1999-present
Company Employed
Sehoon Industry
Sample Korea Co., Ltd.
Last Position Held
President
President
OPERATION
Subject is engaged in
Manufacturing of Apparel
100%
Line of Products / Services
Suit
Casual Wear
Knit
Others
Major brands includes
50%
30%
10%
10%
:
CHA
Production Capacity and Actual Output
Product Capacity
Suit
Casual Wear
Knit
200 PCS/day
100 PCS/day
50 PCS/day
Actual Output
Suit
Casual Wear
Knit
150 PCS/day
80 PCS/day
40 PCS/day
PURCHASE TERRITORY
Local
International
Import from
:
:
:
85%
15%
China
PURCHASING TERMS
Cash on Delivery
Cash on Credit(45days)
30%
70%
NICE D&B Co., Ltd.
11
MAJOR SUPPLIERS
Name
Texso Co., Ltd.
Juns Trading
Kumi Ribbon Co., Ltd.
Samfoong
Others
Product(s)/Service(s) bought
Lace
Lace
Subsidiary materials
Textile
others
(%)
30
20
10
20
20
SALES TERRITORY
Local
International
Export to
Export Volume (2006)
Export Volume (2007)
:
:
:
:
:
90%
10%
United States
KRW 329 Mil.
KRW 309 Mil.
SELLING TERMS
Cash on Credit(45 days)
100%
MAJOR CUSTOMERS
Name
Sejin homeshopping Co., Ltd.
Pazio
Eye Co., Ltd.
NYNY Corporation(USA)
Product(s)/Service(s) sold
Apparel
Apparel
Apparel
Apparel
TOTAL EMPLOYEES
21 (Total)
Staff Breakdown
Directors
Plant Workers
Office Personnel
Other
3
7
10
1
NICE D&B Co., Ltd.
(%)
80
10
5
5
12
OPERATION ANALYSIS
1. Company Profile
With purposes of manufacture and wholesale and retail of women’s apparel, Sample Korea Co., Ltd. has been
established in Aug. 1999. The subject’s total asset is KRW 6,560 Mil. as of Dec. 31st 2007 with sales of KRW 3,291
Mil. in FY2007.
2. Management
Hong, Gil Dong, the president, established sole proprietorship, Sehoon Industry, with a purpose to manufacture
apparel in Oct. 1998. Mr. Hong, president of the subject had worked for a apparel manufacturing company, and
established the subject in Aug. 1999 to manufacture and sell apparel.
Sehoon Industry and the subject’s addresses are same and each company is responsible for manufacture and sales
of apparel respectively. Therefore, they are regarded as substantial one company managed by Park, Han Kuk.
3. Operations
The subject manufactures suits, knits, casual wear and other forms of apparel under names of ‘CHA’, its own brand,
and ‘Faide’, PB brand of Sejin home Shopping which are sold.
80% of the total sales is achieved through Sejin home Shopping, indicating relatively stable distribution channel.
Parts of the subject’s product are sold through domestic catalogue DM such as Eyes Co., Ltd. and Pajio and 5% of
total sales is exported to United States.
20% of products are actually manufactured through Sehoon Industry, which has a role of the subject’s own factory,
and 80% are manufactured through outside processing companies such as Gsan Industry.
NICE D&B Co., Ltd.
13
LINKAGE
Ultimate Parent
D-U-N-S
Name
Address
:
:
:
Phone
:
68-781-5238
Ultimate Sample Company
888, Seocho-dong, Seocho-gu,
Seoul, 135450, Korea
822-30479876
Parent Company
D-U-N-S
Name
Address
:
:
:
Country
Phone
% Share Hold
:
:
:
68-787-3166
Parent Sample Co.
999, Seohyun-dong, Bundang-gu
Songnam-si, Kyonggi-do, 741450,
Korea
8231-21229876
51%
Affiliated Companies
D-U-N-S
Name
Address
:
:
:
Phone
Capital
Relationship with subject
Started
:
:
68-832-1111
Sehoon Industry
94-8, Guro-6-dong, Guro-gu,
Seoul, 285840, Korea
822-21222571
KRW 50 mil.
25% of shares owned subject
1980
Branches
Address
:
Phone
Nature of Business
:
:
703-2, Sadang-dong, Dongjak-gu,
Seoul, 158940, Korea.
822-21450477
Office
NICE D&B Co., Ltd.
14
APPENDIX
CLIP Analysis Definition
Classification
Rating
Description
Est. Rate of Failure
Highest level of credibility for short-term business. Superior level of credibility which can
AAA
SUPERIOR
made at current status.
AA
A
BBB
USUAL
BB
B
CCC
CC
WATCHFUL
C
D
NO GRADE
0.00%
correspond to any changes in circumstance within the rational estimation that can be
NG
Very high level of credibility for short-term business. May correspond to changes in
0.82%
circumstances that could be assumed.
High level of credibility for short-term business. However, has limited ability in
1.35%
corresponding to presumable changes in circumstances.
Adequate level of credibility for short-term business. However, possessed with relatively
2.92%
negative factors in business stability for the future.
Moderate level of credibility for short-term business. However, possessed with relatively
4.06%
negative factors in business stability for the future.
May be acknowledged for short-term credibility. However, possessed with possibility of
5.12%
reimbursement guarantee degraded in case of environmental change.
Very limited credibility at present and presumed to degrade long-term business stability.
6.29%
Called to attention.
Has possibility of default. Business stability is very low compared to above classes.
7.57%
High possibility of default. Low possibility of recovery in the future. The level of which
11.84%
reimbursement ability is doubted.
The subject defaulted or is facing impending default.Credit should be denied.
Over 68.46%
No Grade: Reservation of judgment due to lack of information, decline of credit evaluation, cessation of
business, suspend business and others.
Features of CLIP Evaluation System
CLIP Evaluation System is a credibility evaluation system with high accuracy developed with diverse evaluation and statistical
information of National Information & Credit Evaluation, Inc.(NICE), the biggest credibility evaluation company and specialist in RISK
MANAGEMENT SYSTEM field of Korea.
1. CLIP Non-Financial Evaluation System reflects evaluations of credibility evaluator about production competitiveness, marketing
competitiveness, management capability, etc according to the types of standard industry category.
2. CLIP Financial Evaluation System is “an Evaluation System following financial statement” provided by our company, which provided credibility
evaluation information for long time.
3. CLIP Analysis combines non-financial evaluation system, financial evaluation system as well as our experienced Business Analysts’
subjectivity which assess all circumstances surrounding the subject.
4. Estimated rate of failure is generated from very high level of accuracy using a failure forecasting system applied to the subjects.
*FULL DISPLAY COMPLETE*
This report is provided strictly for internal use by the subscriber in accordance with the terms of the subscription contract.
Re-distribution or re-selling of this report for use by companies other than the subscriber is prohibited.
NICE D&B Co., Ltd.
15

Korea Comprehensive Report Sample KOREA Co., Ltd. :

Transcription

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