MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

DAERYO INTERNATIONAL INC.

 

 

Registered Office :

234-36, Choi-dong, Hanam-si, Gyeonggi-do, Korea, Zip Code 465-220

 

 

Country :

South Korea

 

 

Date of Incorporation :

16.07.1997

 

 

Com. Reg. No.:

205-81-37343

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Sale of Motor Vehicle Upholstery, Parts and Accessories

 

 

No. of Employees :

07 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 :

Slow but Correct

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

DAERYO INTERNATIONAL INC.

(Korean Company Name : “(주)대려인터내셔날”)

Registered Address

234-36, Choi-dong, Hanam-si, Gyeonggi-do, Korea

Zip Code

465-220

Tel

+82-2-2213-0317

Fax

+82-2-2213-0316

E-mail

daeryo@kornet.net;daeryo5@hanmail.net ; sales@foodsaf.com

Website

www.daeryo.com;www.foodsaf.com  

Trading Address

234-36, Choi-dong, Hanam-si, Gyeonggi-do, Korea

Tel

+82-2-2213-0824~5

Fax

+82-2-2213-0316

Other Address

Rm. 102, Polaris B/D., 15-3, Jeongja-dong ,Bundang-gu ,Seongnam-si, Gyeonggi-do, Korea

Tel

+82-31-8022-8898

Fax

+82-31-8022-8895

Type

Export/Import

Industry

Sale of Motor Vehicle Upholstery, Parts and Accessories

  Main Business

Auto Parts, Lubricant, Food Waste Treatment Materials

  Sub Business

Wholesale of Liquid Fuel and Related Products

Established (mm/dd/yyyy)

07/16/1997

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Fuel injectors(26101740)

Sell

Automotive antennas(43221720)

Sell

Wheels and wheel trims(25171900)

Sell

Commercial and Military and Private Vehicles and their Accessories and Components(25000000)

 

 

CEO’s

 

Name

Kim Ji-Won

Address

Suite 1-502, 54, Myeongil-dong ,Gangdong-gu, Seoul, Korea

Date of Birth

07/15/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

150,000,000

Employees

7

Formation

Co., Ltd by shares

Bank Details

Citibank, Korea-Shinsel Dong Branch

Woori Bank(Acct. No.: 1005-100-978433)

Corporate Registered No.

110111-1441099

Business Registered No.

205-81-37343

Permit & Licenses

Int’l Trade No.: 11441964

Shareholder Position

N/A

Company History

07/16/1997 Incorporated as the present name

06/20/2009 Increased capital to 150,000,000 KRW from 50,000,000 KRW

09/15/2011 moved to the present HQ address from 415-10, Jangan-dong, Dongdaemun-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Ji-Won

Male

Korean

02/10/2006

Director

Mr.

Kim Hyung-Won

Male

Korean

02/16/2009

Auditor

M/S.

Lee Yoon-Sook

Female

Korean

07/16/1997

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

11,654,940,000

 

35,890,000

2010

14,419,950,000

 

154,780,000

2009

12,924,530,000

 

99,130,000

2008

10,005,890,000

 

-358,530,000

2007

8,340,000,000

1,571,000,000

128,000,000

2006

8,237,000,000

1,086,000,000

207,000,000

2005

7,861,000,000

1,529,000,000

134,000,000

 

The 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)

150,000,000

Total Issued Shares

30,000

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Auto Parts

-Genuine auto parts

-Clutch cover & disc

-Tensioner & Idler bearing

-Halogen bulb

-Brake pad & shoe

-Window regulator

-Automotive DC motor

-Other auto parts

 

Oils

-Lubricants

-Process oil

 

Engine

-Automobile & Industrial diesel engine

-CNG/LNG/LPG Engine Retrofit and Sales

-CNG/LNG/LPG Engine development and Engineering consulting

 

Brand Name: FOODSAF

 

 

Trade Partners & Competitors

 

Suppliers

HYDRACHEM(UK)

Competitors

DONG NAM PRECISION CO., LTD.

872, HWASAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN, KOREA

TEL:+82-52-239-0300  FAX:+82-52-238-7213

 

SEOJIN CLUTCH CORP.

3NA-609, SIHWA INDUSTRIAL COMPLEX, 1280-9, JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-496-1500  FAX:+82-31-499-7760

 

SAMYANG INTERNATIONAL CO., LTD.

3RD FL., BOHEON BLDG., 84-2, JAE-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-3670-9600  FAX:+82-2-764-9120

 

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in China, Germany, Italy, Pakistan and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

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.