|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GCM |
|
|
|
|
Registered Office : |
Rm. 710, Samsung Town 11-34, Dangsandong 5-ga, Yeongdeungpo-gu, Seoul, Korea 150-045 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
11.03.1992 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of Rubber, Man-made fiber and Plastic
Machinery |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
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 – 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 is currently the world's 12th largest economy.
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. Korea's export focused economy was hit hard
by the 2008 global economic downturn, but quickly rebounded in subsequent
years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement
was ratified by both governments in 2011 and went into effect in March 2012.
Throughout 2012 the economy experienced sluggish growth because of market
slowdowns in the United States, China, and the Eurozone. The incoming
administration in 2013, following the December 2012 presidential election, is
likely to face the challenges of balancing heavy reliance on exports with
developing domestic-oriented sectors, such as services. 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 |
GCM (Korean Company
Name : “지씨엠”) |
|
Registered Address |
11-34, Dangsandong 5-ga, Yeongdeungpo-gu,
Seoul, Korea |
|
Building |
Rm. 710, Samsung Town |
|
Zip Code |
150-045 |
|
Tel |
+82-2-701-8205 |
|
Fax |
+82-2-701-8207 |
|
E-mail |
gcm701@paran.com |
|
Website |
www.gcmtubemachine.com |
|
Trading Address |
Rm. 710, Samsung Town, 11-34, Dangsandong
5-ga, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-701-8205 |
|
Fax |
+82-2-701-8207 |
|
Other Address |
337, Seogu-ri, Gwangjeok-myeon, Yangju-si,
Gyeonggi-do, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Rubber, Man-made fiber and Plastic Machinery |
|
Main Business |
Injection Heading Machine, Topsealing & Capping Machine, Offset
Printing Machine, Extruder |
|
Established (mm/dd/yyyy) |
03/11/1992 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Tube and tubing(31231300) |
|
Sell |
Printing presses(45101507) |
|
Name |
Kwon Hyuk-Sung |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to the
Sole Proprietorship |
|
Employees |
2 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
106-31-***** (The full numbers are kept by the
National Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
03/11/1992 Established as CHANGIL TRADING
CO.(Sole Proprietorship) 07/2004 Changed company name to the present
name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Kwon Hyuk-Sung |
Male |
Korean |
03/11/1992 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
2,574,000,000 |
|
|
|
2007 |
1,395,000,000 |
|
|
|
2006 |
1,000,000,000 |
|
|
|
2005 |
|
|
|
|
2004 |
|
|
|
|
2003 |
|
|
|
The latest &
full financials are not available, and the Subject Company does not have any obligations
to release its financials to the public.
|
Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
|
Main Products & Services |
Injection Heading Machine, Topsealing & Capping Machine, Offset
Printing Machine, Extruder |
|
Competitors |
JEIL MACHINERY CO. GA-118, GORYEO COMPLEX, 10-279,
JONGAM-DONG, SEONGBUK-GU, SEOUL, KOREA TEL:+82-2-941-2977 FAX:+82-2-917-8921 JEIL CORPORATION 657-5, ILPAE-DONG, NAMYANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-2-943-0041 FAX:+82-2-911-4229 SOO SUNG MACHINE COMPANY 768-2, HASIN-RI, GEUMSEONG-MYEON,
GEUMSAN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-751-2644 FAX:+82-41-751-2646 |
(Activity &
Markets)
The Subject deals
with the companies in Finland.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.