MIRA INFORM REPORT

 

 

Report Date :

29.12.2012

 

IDENTIFICATION DETAILS

 

Name :

SEYANG INTERNATIONAL CORP.

 

 

 

 

Registered Office :

Rm. 1608, Samsung Jeil Bldg. 702-2, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 135-513

 

 

Country :

South Korea

 

 

Date of Incorporation :

18.03.2010

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Basic Metals

 

 

No. of Employees :

4

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

Payment Behaviour :

--

Litigation :

--

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SOUTH KOREA - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible 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, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, 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 6.9% in 1998, and then recovered by 9% in 1999-2000. 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. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

Source : CIA

Basic Information

 

Company Name

SEYANG INTERNATIONAL CORP.

(Korean Company Name : “(주)세양인터내셔널”)

Registered Address

702-2, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Building

Rm. 1608, Samsung Jeil Bldg.

Zip Code

135-513

Tel

+82-2-527-2080~2

Fax

+82-2-527-2085

E-mail

info@seyang.net;suk728@gmail.com

Website

www.seyang.net

Trading Address

Rm. 1608, Samsung Jeil Bldg., 702-2, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-527-2080~2

Fax

+82-2-527-2085

Type

Export

Industry

Wholesale of Basic Metals

  Main Business

Cold Rolled Steel Sheet, Hot Rolled Steel Sheet, Steel Reinforcement, Billet, Wire Bar

  Sub Business

 

Established (mm/dd/yyyy)

03/18/2010

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Steel bars(30101604)

Sell

Steel beams(30101704)

Sell

Steel(11101704)

Sell

Steel plate(30102204)

 

 

CEO’s

 

Name

Kim Hyung-Sun

Address

Suite 202-1306, 14, Cheongdam-dong, Gangnam-gu, Seoul, Korea

Date of Birth

02/28/1968

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

100,000,000

Employees

4

Formation

Co., Ltd by Shares

Bank Details

N/A

Corporate Registered No.

110111-4308212

Business Registered No.

220-87-96*** (The full numbers are kept by the National Tax Service confidentially.)

Because the subject’s full Business Registered No., for checking through the National Tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.)

Permit & Licenses

Int’l Trade No.: 30672066

Shareholder Position

N/A

Company History

03/18/2010 Incorporated as the present name

11/2011 Awarded US$ 1 Million Export Top Prize

12/21/2011 Increased capital to 100,000,000 KRW from 50,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Hyung-Sun

Male

Korean

03/18/2010

Director

Mr.

Yeo Byung-Wook

Male

Korean

03/18/2010

Director

Mr.

Won Young-Seok

Male

Korean

03/18/2010

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

1,140,000,000

 

61,200,000

The latest & full financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issues Shares

20,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Cold Rolled Steel Sheet, Hot Rolled Steel Sheet, Steel Reinforcement, Billet, Wire Bar

 

Trade Partners & Competitors

 

Competitors

BUSAN STEEL CO., LTD.

720-4, HAKJANG-DONG, SASANG-GU, BUSAN, KOREA

TEL:+82-51-325-1131~4  FAX:+82-51-324-6440

 

DEOGWON STEEL CO., LTD.

507-5, BANJEONG-DONG, HWASEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-223-7708  FAX:+82-31-223-0977

 

WELLSTEEL CO., LTD.

1752-1, SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA

TEL:+82-51-831-7330  FAX:+82-51-831-7329

 

 

Sales by Region

 (Activity & Markets)

 

The Subject imports from China, Turkey, UK, Germany and Russia. And it exports to Belgium, Kuwait, Netherlands, Peru, Poland and South Africa.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.85

UK Pound

1

Rs.88.39

Euro

1

Rs.72.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

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