MIRA INFORM REPORT

 

 

Report Date :

07.08.2012

 

IDENTIFICATION DETAILS

 

Name :

RAREMETAL KOREA CO., LTD.

 

 

Formerly Known As :

RAREMETAL KOREA CO.

 

 

Registered Office :

144B-11L, Namdong Industrial Complex, 716-10, Gojan-dong, Namdong-gu, Incheon, Korea, Zip Code 405-821

 

 

Country :

South Korea

 

 

Date of Incorporation :

07.09.2007

 

 

Com. Reg. No.:

131-86-05114

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture of Pipes and Tubes, of Non-cast Iron or Steel

 

 

No. of Employees :

18

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Basic

 

Company Name

RAREMETAL KOREA CO., LTD.

(Korean Company Name : “(주)레어메탈코리아”)

Registered Address

144B-11L, Namdong Industrial Complex, 716-10, Gojan-dong, Namdong-gu, Incheon, Korea

Zip Code

405-821

Tel

+82-32-819-5827

Fax

+82-32-819-5829

E-mail

webmaster@raremetal.co.kr

rm1@raremetal.co.kr 

rm2@raremetal.co.kr

herena3@hanmail.net

Website

www.raremetal.co.kr

Tel

+82-32-819-5827

Fax

+82-32-819-5829

Type

Export

Industry

Manufacture of Pipes and Tubes, of Non-cast Iron or Steel

  Main Business

Steel Pipe

Established (mm/dd/yyyy)

09/07/2007

 

The Subject Company occupies the premises of registered HQ address by leasing base.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Hardware and fittings(40141700)

 

 

CEO’s

 

Name

Na Han-Sung

Address

Suite 111-606, 925, Dongchun-dong, Yeonsu-gu, Incheon, Korea

Date of Birth

12/25/1960

Title

Representative Director

Sex

Male

Nationality

Korean

 

Mr. Na Han-Sung has been graduated from Induck College, Korea.

 

 

Profiles

 

Capital (KRW)

400,000,000

Employees

18

Formation

Co., Ltd by shares

Bank Details

Korea Exchange Bank-Namdong Industrial Complex Branch

Corporate Registered No.

120111-0443747

Business Registered No.

131-86-05114

Permit & Licenses

Int’l Trade No.: 11924779

Shareholder Position

Name

Shares

%

NA HAN-SUNG

72,000

90.00

HWANG KYU-DONG

8,000

10.00

TOTAL

80,000

90.00

Company History

12/2000 Established as RAREMETAL KOREA CO.(Sole Proprietorship)

09/07/2007 Incorporated as the present name

10/29/2007 Moved to 115B-6L, 685-5, Gojan-dong, Namdong-gu, Incheon, Korea from Rm.301, IMC-9, Bldg., 502-1, Cheonghak-dong, Yeonsu-gu, Incheon, Korea

11/20/2008 Moved to 699-15, Gojan-dong, Namdong-gu, Incheon, Korea from 115B-6L, 685-5, Gojan-dong, Namdong-gu, Incheon, Korea

04/27/2009 Moved to 368-1, Gojan-dong, Namdong-gu, Incheon, Korea from 126B-13L, 699-15, Gojan-dong, Namdong-gu, Incheon, Korea

11/24/2009 Moved to the present HQ address from 368-1, Gojan-dong, Namdong-gu, Incheon, Korea

12/25/2009 Increased capital to 60,000,000 KRW from 400,00,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Na Han-Sung

Male

Korean

09/07/2007

Auditor

Mr.

Hwang Kyu-Dong

Male

Korean

09/07/2007

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

37,251,000,000

22,195,000,000

1,062,000,000

2010

16,521,000,000

9,894,000,000

830,000,000

2009

21,648,000,000

6,723,000,000

1,346,000,000

2008

6,504,795,000

2,903,858,000

178,935,000

2007

1,106,048,000

2,070,624,000

29,537,000

2006

1,615,000,000

220,000,000

44,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

1,600,000,000

Paid-Up Capital(KRW)

600,000,000

Total Issues Shares

120,000

 

Products, Technologies, Services Description

 

Main Products & Services

Minor metals

-Titanium

-Molybdenum

 

Carbon & Stainless Steel, Alloys-Ship Building & Storage Tank Materials

-Carbon Steel & Alloys

-Stainless Steel & Alloys

 

Pipe, Flange, Fitting

-ERW/LSAW/SSAW

-Seamless Pipe

-Forged Products

-Fittings

 

Water Injection System

Explosion Bond & Overaly Welded Products

-Explosion Bond

-Overlay Welding

 

Engineering Service

 

 

Trade Partners & Competitors

 

Competitors

HANWOO CORPORATION

C-58, 2ND FL., COEX, 159, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-551-3671  FAX:+82-2-551-3673

 

YUNG JIN CO., LTD.

563, OKMYEONG-RI, DAESONG-MYEON, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-720-9000  FAX:+82-54-278-5020

 

TRIUS CO., LTD.

RM. 1311, ROYAL BLDG., 5, DANGJU-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2176-1190  FAX:+82-2-720-6992

 

YOO CHEON CO., LTD.

1713-24, NANJEON-RI, SAMHO-EUP, YEONGAM-GUN, JEOLLANAM-DO, KOREA

TEL:+82-61-464-0167  FAX:+82-61-464-0168

 

Sales by Region

(Activity & Markets)

 

The Subject exports to Middle East, Asia, Europe, China and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.47

UK Pound

1

Rs.86.60

Euro

1

Rs.68.66

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.