MIRA INFORM REPORT

Report Date :

25.09.2012

IDENTIFICATION DETAILS

Name :	IL WON MACHINERY CO., LTD.

Registered Office :	1383, Jeongwang 1-dong, Siheung-si, Gyeonggi-do, Korea, 3Ra-517, Sihwa Industrial Complex, Zip Code 429-934

Country :	South korea

Date of Incorporation :	24.09.1993

Com. Reg. No.:	133-81-24499

Legal Form :	Co., Ltd by Shares

Line of Business :	Manufacturer of Containers Cleaning, Packing and Wrapping Machinery and Charger

No. of Employees :	25 employees

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

South Korea

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	IL WON MACHINERY CO., LTD. (Korean Company Name : “일원기계(주)”)
Registered Address	1383, Jeongwang 1-dong, Siheung-si, Gyeonggi-do, Korea
Building	3Ra-517, Sihwa Industrial Complex
Zip Code	429-934
Tel	+82-31-499-5091~3
Fax	+82-31-499-5094
E-mail	ilwonmc@hotmail.com
Website	www.iwmc.co.kr
Trading Address	3Ra-517, Sihwa Industrial Complex, 1383, Jeongwang 1-dong, Siheung-si, Gyeonggi-do, Korea
Tel	+82-31-499-5091~3
Fax	+82-31-499-5094
Type	Export
Industry	Manufacture of Containers Cleaning, Packing and Wrapping Machinery and Charger
Main Business	Twist Wrapping Machine, Chewing Gum Wrapping Machine
Established (mm/dd/yyyy)	09/24/1993

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Packaging machinery(23152900)
Sell	Wrapping machinery(23152901)

CEO’s

Name	Park Jeong-Ho
Address	Suite 707, 21-2, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea
Date of Birth	09/08/1946
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	100,000,000
Employees	25
Formation	Co., Ltd by Shares
Bank Details	Kopokmin Bank-Shinchon Branch
Corporate Registered No.	1101110-975031
Business Registered No.	133-81-24499
Permit & Licenses	Int’l Trade No.: 11108414
Shareholder Position	N/A
Company History	01/1978 Established as ILWON MACHINERY CO. 10/11/1993 Incorporated as the present name

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Park Jeong-Ho	Male	Korean	09/24/1999
Director	Mr.	Park Byung-Ho	Male	Korean	09/24/1999
Auditor	Mr.	Park Jung-Eui	Male	Korean	03/24/2000

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2009	2,071,0000,000	1,551,0000,000	61,0000,000
2008	1,987,0000,000	1,017,0000,000	249,0000,000
2007	1,482,0000,000	782,0000,000	-237,0000,000

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)	400,000,000
Paid-Up Capital(KRW)	100,000,000
Total Issues Shares	10,000

Products, Technologies, Services Description

Main Products & Services

Twist Wrapping Machine, Chewing Gum Wrapping Machine

Trade Partners & Competitors

Competitors

SEJIN TECH CO., LTD.

129B-5L, NAMDONG INDUSTRIAL COMPLEX, 696-4, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA

TEL:+82-32-819-2004 FAX:+82-32-819-0053

HAN DONG SYSTEM CO., LTD.

432-41, MAEKGEUM-DONG, PAJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-8071-3630~4 FAX:+82-31-8071-3635

HYOWON MACHINERY CO., LTD.

61-18, JIK-DONG, GWANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-799-1100 FAX:+82-31-799-1199

Sales by Region

(Activity & Markets)

Not Available.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.29
UK Pound	1	Rs.86.44
Euro	1	Rs.68.95

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%)

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