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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
DAEWON CORP. |
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Registered Office : |
486, Sin-dong, Yeongtong-gu ,Suwon-si, Gyeonggi-do, Korea, Rm.103-1213, Digital Empire 2, Zip Code 443-734 |
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Country : |
South korea |
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Date of Incorporation : |
01.02.2009 |
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Com. Reg. No.: |
135-86-01221 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesaler of Basic Metals |
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No. of Employees : |
04 |
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) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source : CIA |
|
Company
Name |
DAEWON CORP. (Korean Company
Name : “(주)대원코프”) |
|
Registered Address |
486, Sin-dong, Yeongtong-gu ,Suwon-si, Gyeonggi-do,
Korea |
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Building |
Rm.103-1213, Digital Empire 2 |
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Zip Code |
443-734 |
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Tel |
+82-31-695-6641~2 |
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Fax |
+82-31-695-6640 |
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E-mail |
m-youn@daewoncorp.co.kr;sophia@daewoncorp.co.kr;cwyoun824@naver.com
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|
Website |
|
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Trading Address |
Rm.103-1213, Digital Empire 2, 486,
Sin-dong, Yeongtong-gu ,Suwon-si, Gyeonggi-do, Korea |
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Tel |
+82-31-236-4395 |
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Fax |
+82-31-236-4462 |
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Type |
Export |
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Industry |
Wholesale of Basic Metals |
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Main Business |
Hot Coil, Cold Rolled Coil, Steel Plate |
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Established (mm/dd/yyyy) |
02/01/2009 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Iron plate(30102203) |
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Sell |
Steel plate(30102204) |
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Sell |
Steel sheet(30102504) |
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Sell |
Steel coil(30101904) |
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Name |
Youn Kun-Won |
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Address |
Suite 908-1902, 21-12, Dongtangongwon-ro, Hwaseong-si,
Gyeonggi-do, Korea |
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Date of Birth |
12/08/1972 |
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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) |
200,000,000 |
|
Employees |
4 |
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Formation |
Co., Ltd by shares |
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Bank Details |
N/A |
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Corporate Registered No. |
135811-0162049 |
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Business Registered No. |
135-86-01221 |
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Permit & Licenses |
Int’l Trade No: 306420 |
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Shareholder Position |
N/A |
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Company History |
01/29/2009 Incorporated as the present name
from GAT CORP.(Sole Proprietorship) 03/25/2009 Increased the authorized shares
to 200,000 shares from 40,000 shares 03/25/2009 Moved to the present HQ address
from Rm.
305, Pyeongeun Bldg., 944-2, Ingye-dong, Paldal-gu, Suwon-si, Gyeonggi-do,
Korea 03/26/2009 Increased capital to 200,000,000 KRW from 50,000,000 KRW 12/24/2011 Increased capital to 500,000,000 KRW from 300,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Youn Keun-Won |
Male |
Korean |
01/29/2009 |
|
Director |
M/S. |
Youn Keun-Ok |
Female |
Korean |
03/02/2009 |
|
Auditor |
Mr. |
Lee Young-Soo |
Male |
Korean |
03/02/2009 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2011 |
7,051,000,000 |
|
|
The full &
latest financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Main Products & Services |
Cold Rolled Steel Sheet Electric Galvanized Steel Sheet Hot-Dip Galvanized Steel Sheet Hot Rolled Plate Deformed Bars H-Beam |
|
Competitors |
HAN YANG STEEL IND. CO., LTD. 472-2, JAKJEON 2-DONG, GYEYANG-GU, INCHEON,
KOREA TEL:+82-32-547-5540 FAX:+82-32-549-7914 KUNYOUNG STEEL CO., LTD. 381-13, JEONGJA 1-DONG, JANGAN-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-244-9998 FAX:+82-31-244-9968 P & S KOREA CO., LTD. 3RD FL., HI-SENSE BLDG., 1688-17, SEOCHO
1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3474-3933 FAX:+82-2-3474-3936 |
(Activity & Markets)
The Subject exports
to South East Asia, East Europe and Middle East.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
UK Pound |
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
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 |
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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 |
|
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 |
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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 |
|
<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.