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Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINSEUNG D&C CO., LTD. |
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|
|
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Registered Office : |
Rm. 1322, Geopyeong Town 203-1, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea 135-726 |
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|
|
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Country : |
South Korea |
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|
|
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Date of Incorporation : |
06.12.2007 |
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|
|
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Com. Reg. No.: |
211-88-06223 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Wholesale of Materials for Recycling and Other Specialized
Goods |
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|
|
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No. of Employees : |
1 |
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 |
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Payment Behaviour : |
Unknown |
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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 (31.03.2011) |
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
|
Company Name |
SHINSEUNG
D&C CO., LTD. (Korean Company
Name : “(주)신승디엔씨”) |
|
Registered Address |
203-1, Nonhyeon 1-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
Rm. 1322, Geopyeong Town |
|
Zip Code |
135-726 |
|
Tel |
+82-2-542-3477 |
|
Fax |
+82-2-542-3471 |
|
Trading Address |
Rm. 1322, Geopyeong Town, 203-1, Nonhyeon
1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-542-3477 |
|
Fax |
+82-2-542-3471 |
|
Type |
Export |
|
Industry |
Wholesale of Materials for Recycling and Other Specialized Goods
n.e.c. |
|
Main Business |
Textiles, Leather, Paper, Emboss Roller,
Release Paper |
|
Established (mm/dd/yyyy) |
12/06/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Leathers(11162300) |
|
Name |
Cheong Joong-Tae |
|
Address |
Suite 22-504, 1031, Banpo-dong, Seocho-gu,
Seoul, Korea |
|
Date of Birth |
06/04/1961 |
|
Title |
Representative Director |
|
Sex |
Male |
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Nationality |
Korean |
|
Capital (KRW) |
10,000,000 |
|
Employees |
1 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
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Corporate Registered No. |
1101113-800128 |
|
Business Registered No. |
211-88-06223 |
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Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
12/06/2007 Incorporated as the present name (*) The Subject has been established with
the minimum paid up capital, 10,000,000 KRW, based on the Special Law for
assisting Small Enterprises and Entrepreneurs. |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Cheong Joong-Tae |
Male |
Korean |
12/06/2010 |
|
Auditor |
M/S. |
Kim Jung-Sook |
Female |
Korean |
03/23/2010 |
The financials are not
available, and the Subject Company does not have any obligations to release its
financials to the public.
|
Authorized Capital(KRW) |
40,000,000 |
|
Paid-Up Capital(KRW) |
10,000,000 |
|
Total Issued Shares |
2,000 |
|
Main Products & Services |
Leather |
|
Suppliers |
AJINOMOTO TRADING INC.(JAPAN) |
|
Competitors |
PIWON CO., LTD. 542, DONGDUCHEON-DONG, DONGDUCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-867-8670 FAX:+82-31-866-8670 BUMYANG LEATHER TECH CO., LTD. 27-5, CHOSEONG-RI, CHEONGSAN-MYEON,
YEONCHEON-GUN, GYEONGGI-DO, KOREA TEL:+82-31-835-6177 FAX:+82-31-835-6252 DSI COMPANY LTD. 617-1, SEONGGOK-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-491-9421 FAX:+82-31-491-0387 |
(Activity &
Markets)
The Subject imports
from Japan, and exports to China and India.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.98 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.