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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
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Name : |
LG TECH CO., LTD. |
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Registered Office : |
205-9, Hak-dong, Yeosu-si, Jeollanam-do, Korea, Zip Code 555-809 |
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Country : |
South Korea |
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Date of Incorporation : |
15.09.1993 |
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Com. Reg. No.: |
417-81-07990 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesaler of Petrochemicals, Chemicals and Oils |
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No. of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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Company
Name |
LG TECH CO., LTD. (Korean Company Name : “(주)엘지테크”) |
|
Registered Address |
205-9, Hak-dong,
Yeosu-si, Jeollanam-do, Korea |
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Zip Code |
555-809 |
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Tel |
+82-61-686-2500 |
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Fax |
+82-61-684-3071 |
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Trading Address |
205-9, Hak-dong,
Yeosu-si, Jeollanam-do, Korea |
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Tel |
+82-61-686-2500 |
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Fax |
+82-61-684-3071 |
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Type |
Export/Import |
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Industry |
Wholesales of Petrochemicals, Chemicals and
Oils |
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Main Business |
Petrochemicals, Chemicals and Oils,
Machinery |
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Established (mm/dd/yyyy) |
09/15/1993 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
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Name |
Lee Young-Wan |
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Address |
Suite 1-804, 53, Seonwon-dong,
Yeosu-si, Jeollanam-do, Korea |
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Date of Birth |
06/23/1954 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
100,000,000 |
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Employees |
8 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Kookmin Bank-Yeocheon Branch |
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Corporate Registered No. |
206211-0003017 |
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Business Registered No. |
417-81-07990 |
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Permit & Licenses |
Int’l Trade No.: 15001092 |
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Shareholder Position |
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Company History |
09/15/1993 Incorporated 06/14/1994 Changed company name to the
present name 07/16/2002 Moved to the present HQ address
from 205-8, Hak-dong, Yeosu-si, Jeollanam-do, Korea 12/11/2007 Increased capital to 100,000,000
KRW from 50,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Young-Wan |
Male |
Korean |
07/06/2006 |
|
Auditor |
M/S. |
Ko Ae-Ran |
Female |
Korean |
07/06/2009 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2006 |
7,516,000,000 |
1,516,000,000 |
116,000,000 |
|
2005 |
10,256,000,000 |
2,002,000,000 |
161,000,000 |
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2004 |
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2003 |
2,894,000,000 |
806,000,000 |
59,000,000 |
The latest & full
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
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Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
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Total Issued Shares |
10,000 |
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Main Products & Services |
Petrochemicals, Chemicals and Oils,
Machinery |
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Competitors |
SHARON CHEMICALS & TRADE CO., LTD. 105-117, DONGJAK SANGTEVILLE OFFICETEL,
719, SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-832-6822~3 FAX:+82-2-832-6825 DNS INTERNATIONAL RM. 701, HARVARD OFFICETEL, 875-7,
CHEONGNYONG-DONG, GWANAK-GU, SEOUL, KOREA TEL:+82-2-872-0947 FAX:+82-2-6280-0960 SAMBO GLOBAL CO., LTD RM. 818, HANSHIN CORE OFFICETEL, 11-9,
SINCHEON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-2202-2251 FAX:+82-2-2202-2254 |
(Activity & Markets)
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
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UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.