MIRA INFORM REPORT

 

 

Report Date :

01.11.2012

 

IDENTIFICATION DETAILS

 

Name :

WON YOUNG INDUSTRY CO., LTD.

 

 

Formerly Known As :

Won Young Industry Co.(Sole Proprietorship)

 

 

Registered Office :

1249-10, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea, 1Ra-510, Sihwa Industrial Complex, Zip Code 429-914

 

 

Country :

South korea

 

 

Date of Incorporation :

27.06.1986

 

 

Com. Reg. No.:

133-81-24000

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacturer of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents

 

 

No. of Employees :

18 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

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

 

Company Name

WON YOUNG INDUSTRY CO., LTD.

(Korean Company Name : “원영산업(주)”)

Registered Address

1249-10, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea

Building

1Ra-510, Sihwa Industrial Complex

Zip Code

429-914

Tel

+82-31-499-0785

Fax

+82-31-499-0788

E-mail

webmaster@rheotex.co.kr

Website

www.rheotex.co.kr

Trading Address

1Ra-510, Sihwa Industrial Complex, 1249-10, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea

Tel

+82-31-499-0785

Fax

+82-31-499-0788

Other Address

33-325, 1364, Jeongwang-dong, Siheung-si, Gyeonggi-do, Korea

Type

Export/Import

Industry

Manufacture of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents

  Main Business

Printing Thickener, Sodium Alginate, Gum, Polysaccharide, HPMC, Trowelling Mortar, Stucco Motor

  Sub Business

 

Established (mm/dd/yyyy)

06/27/1986

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Dyes(12171500)

 

 

CEO’s

 

Name

Kim Myoung-Won

Address

Suite 18-12, Sillim-ro 11-gil, Gwanak-gu, Seoul, Korea

Date of Birth

12/04/1936

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

700,000,000

Employees

18

Formation

Co., Ltd by Shares

Venture Business

Bank Details

Kookmin Bank-Youngdungpo Branch

Corporate Registered No.

124311-0015275

Business Registered No.

133-81-24000

Permit & Licenses

02/19/1997 ISO 9002

05/20/2000 ISO 9001

06/28/2003 ISO 14001

 

Int’l Trade No.: 230179

Shareholder Position

Name

Shares

%

KIM MYOUNG-WON

75,600

54.00

KANG SANG-HOON

28,000

20.00

KANG KEUM-SOON

11,200

8.00

KIM KI-HONG

11,200

8.00

KIM CHEOL-HONG

8,400

6.00

OTHERS

5,600

4.00

TOTAL

140,000

100.00

Company History

06/01/1981 Established as WON YOUNG INDUSTRY CO.(Sole Proprietorship)

06/27/1986 Incorporated as the present name

02/27/2002 Designated as a Venture Business

11/14/2006 Designated as an INNO-BIZ Company

05/12/2010 Designated as a Venture Business again

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Myoung-Won

Male

Korean

03/29/2001

Director

Mr.

Kang Sang-Hoon

Male

Korean

03/29/2001

Director

Mr.

Kim Cheol-Hong

Male

Korean

03/03/2009

Director

Mr.

Kim Beom-Yong

Male

Korean

03/03/2009

Director

Mr.

Kim Ki-Hong

Male

Korean

03/29/2010

Auditor

Mr.

Kim Cheon-Keun

Male

Korean

03/29/2010

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

7,118,000,000

 

397,000,000

2009

7,466,000,000

 

360,000,000

2008

5,611,000,000

 

178,660,000

2007

4,487,000,000

 

119,650,000

2006

3,961,000,000

 

 

2005

3,866,000,000

 

 

2004

4,561,000,000

 

 

2003

4,428,000,000

 

 

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)

1,000,000,000

Paid-Up Capital(KRW)

700,000,000

Total Issued Shares

140,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Printing Thickener, Sodium Alginate, Gum, Polysaccharide, HPMC, Trowelling Mortar, Stucco Motor

 

Brand Name : RHEOTEX

 

 

Trade Partners & Competitors

 

Competitors

NATO CORPORATION LTD.

73, YONGAM-RI, EUNHYEON-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-862-8181  FAX:+82-31-864-4294

 

TAESUK INTERNATIONAL CORP.

RM. 1502, GOLDEN TOWER BLDG., 191, CHUNGJEONGNO 2-GA, SEODAEMUN-GU, SEOUL, KOREA

TEL:+82-2-365-0727  FAX:+82-2-365-4786

 

WOOSHIN CORPORATION

RM. 309, HIGH-TECHNOLOGY SUPPORTING CENTER, 1-11, HOSAN-DONG, DALSEO-GU, DAEGU, KOREA

TEL:+82-53-593-0236  FAX:+82-53-593-0235

 

 

Sales by Region

(Activity & Markets)

 

Not Available.

 

Court Action

 

Not Available.

 

 

News Clipping

 

-

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.12

UK Pound

1

Rs.87.08

Euro

1

Rs.70.15

 

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.