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Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEOJIN CHEMICAL CO., LTD. |
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|
|
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Registered Office : |
17-2, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea A-1204, Baekgung Dongyang Paragon 463-842 |
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Country : |
South Korea |
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Date of Incorporation : |
04.03.2005 |
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|
|
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Com. Reg. No.: |
129-81-82243 |
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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 Other Chemical Materials and Chemical
Products |
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|
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No. of Employees : |
2 |
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 : |
Small Company |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
SEOJIN CHEMICAL CO., LTD. (Korean Company Name : “(주)서진케미칼”) |
|
Registered Address |
17-2, Jeongja-dong, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea |
|
Building |
A-1204, Baekgung Dongyang Paragon |
|
Zip Code |
463-842 |
|
Tel |
+82-31-782-7330 |
|
Fax |
+82-31-728-7332 |
|
E-mail |
seojinchem1@kornet.net |
|
Website |
www.seojinchem1.com |
|
Trading Address |
A-1204, Baekgung Dongyang Paragon, 17-2, Jeongja-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-782-7330 |
|
Fax |
+82-31-728-7332 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Chemicals for Processing Textiles,
Thickener, Pure Sodium Alginate |
|
Established (mm/dd/yyyy) |
03/04/2005 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Sell |
Additives(12160000) |
|
Name |
Kim Young-Sook |
|
Address |
Suite 308-501, 132, Imae-dong,
Bundang-gu ,Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
02/09/1965 |
|
Title |
President & CEO |
|
Sex |
Female |
|
Nationality |
Korean |
|
Capital (KRW) |
50,000,000 |
|
Employees |
2 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Woori Bank- Jeongja Station Branch Address: 15-7, Jeongja-Dong, Seongnam-Si,
Kyongki-Do 463-010 Korea Tel: 82-31-729-9423 Korea Exchange Bank |
|
Corporate Registered No. |
131111-0135234 |
|
Business Registered No. |
129-81-82243 |
|
Permit & Licenses |
Int’l Trade No.: 45208548 |
|
Shareholder Position |
N/A |
|
Company History |
03/04/2005 Incorporated as the present
name 03/13/2006 Moved to the present address from A-1216, Dong Yang Paragon, 17-2 Jeong Ja-Dong, Bundang Gu, Seong Nam Si,
Kyong Ki-do, Korea |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
Kim Young-Sook |
Female |
Korean |
03/04/2005 |
|
Director |
Mr. |
Kim Young-Seob |
Male |
Korean |
03/07/2008 |
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
10,000 |
|
Main Products & Services |
The Subject
Company is one of leading manufacturer of thickening agent for textile printing
and preparation for textile dyeing and printing in the world. The Subject
Company established one joint venture factory in China for sodium alginate,
gum derivated thickener for textile printing and operating preparation
factory for dyeing and printing textile in Korea. Industrial Basic Chemicals Super Reactive Dyestuff Non-Formalin Fixing Agent For Cotton & Rayon Sodium Alginate |
|
Competitors |
CHUNGHAN CHEM INTERNATIONAL LTD. RM. 604, ID TOWER, 99-7, GARAK-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-448-0477 FAX:+82-2-448-0722 TAEKWANG DEVELOPMENT CO., LTD. 204-1, SIMGOK-RI, SINBUK-MYEON, POCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-533-3255 FAX:+82-31-532-7221 CHEMPIA CORPORATION RM. 502-2, ANSAN LEGAL TOWN, 707, GOJAN-DONG,
DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-486-6898 FAX:+82-31-413-3048 |
(Activity &
Markets)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
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.