MIRA INFORM REPORT

 

 

Report Date :

21.09.2012

 

IDENTIFICATION DETAILS

 

Name :

SOYON INDUSTRIAL CO., LTD.

 

 

 

Registered Office :

T1-507~508, Western Tower 867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea 410-837

 

 

Country :

South Korea

 

 

Date of Incorporation :

29.08.2001

 

 

Com. Reg. No.:

107-86-04994

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesales of Other Weaving of Textiles

 

 

No. of Employees :

4

 

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 :

Unknown

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

 

 

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

SOYON INDUSTRIAL CO., LTD.

(Korean Company Name : “소연산업(주)”)

Registered Address

867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea

Building

T1-507~508, Western Tower

Zip Code

410-837

Tel

+82-31-931-5307~9

Fax

+82-31-931-5310

E-mail

info@soyon.com;soyon93@unitel.co.kr;tarps@soyon.com

Website

www.soyon.com;tarpaulins.soyon.com

Trading Address

T1-507~508, Western Tower, 867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea

Tel

+82-31-931-5307/9

Fax

+82-31-931-5310

Type

Export

Industry

Wholesales of Other Weaving of Textiles

  Main Business

P.E. Tarpaulins, PVC Tarpaulins, Mesh Nets, Garden Tent and Covers

  Sub Business

Constructional Materials

Established (mm/dd/yyyy)

08/29/2001

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

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Tarpaulins(24141506)

Sell

Synthetic fabrics(11161800)

Sell

Mesh Nets

 

 

CEO’s

 

Name

Roh Se-Ho

Address

Suite 1406-1803, 101, Juyeop-dong ,Ilsanseo-gu ,Goyang-si, Gyeonggi-do, Korea

Date of Birth

08/02/1968

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

300,000,000

Employees

4

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea-Ilsan Western Dom Branch

Citibank, Korea

Corporate Registered No.

110111-2319138

Business Registered No.

107-86-04994

Permit & Licenses

Int’l Trade No. : 30078262

Shareholder Position

N/A

Company History

08/29/2001 Incorporated as the present name

06/22/2007 Moved to the present address from 12-1, Yeouido-dong ,Yeongdeungpo-gu, Seoul, Korea

12/07/2007 Increased the authorized shares to 1,000,000 shares from 40,000 shares

12/12/2007 Increased capital to 300,000,000 KRW from 50,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Roh Se-Ho

Male

Korean

08/29/2001

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

8,518,000,000

1,786,000,000

174,000,000

2007

6,036,000,000

1,496,000,000

40,000,000

2006

4,327,000,000

376,000,000

19,000,000

2005

5,151,000,000

365,000,000

21,000,000

2004

5,100,000,000

 

 

2003

4,800,000,000

 

 

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)

5,000,000,000

Paid-Up Capital(KRW)

300,000,000

Total Issues Shares

60,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

P.E Tarpaulin

PVC Laminated Fabric

Industrial Net Fabric

Net

Hay Cover

Truck Tarpaulin

Orange Fence

Field Cover

Roofing Membrane

PVC Vinyl Fabric

 

Trade Partners & Competitors

 

Competitors

SOONGWON IND. CO., LTD.

632, GEUMMAE-RI, HYORYEONG-MYEON, GUNWI-GUN, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-383-6166  FAX:+82-54-383-6199

 

DONG WON INDUSTRY CO.

951-2,GEUMPO-RI, NONGONG-EUP, DALSEONG-GUN, DAEGU, KOREA

TEL:+82-53-615-9791~5  FAX:+82-53-615-9796

 

NEW PRIME INC.

RM. 1416, GWANGHWAMUN OFFICIA, 163, SINMUNNO 1-GA, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-730-4228  FAX:+82-2-730-4229

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to Europe, USA, Canada and Chile.

 

 

Court Action

 

Not Available.

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.87.91

Euro

1

Rs.70.57

 

 

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%)

 

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.