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Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
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Name : |
SOYON INDUSTRIAL CO., LTD. |
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Registered Office : |
867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea, T1-507~508, Western Tower, Zip Code 410-837 |
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Country : |
South Korea |
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Date of Incorporation : |
29.08.2001 |
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Com. Reg. No.: |
107-86-04994 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesaler of Other Weaving of
Textiles such as P.E. Tarpaulins, PVC Tarpaulins, Mesh Nets,
Garden Tent and Covers |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 |
SOYON INDUSTRIAL CO., LTD. (Korean Company Name : “소연산업(주)”) |
|
Registered Address |
867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si,
Gyeonggi-do, Korea |
|
Building |
T1-507~508,
Western Tower |
|
Zip Code |
410-837 |
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Tel |
+82-31-931-5307~9 |
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Fax |
+82-31-931-5310 |
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E-mail |
|
|
Website |
|
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Trading
Address |
T1-507~508, Western Tower, 867, Janghang 2-dong
,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-931-5307/9 |
|
Fax |
+82-31-931-5310 |
|
Type |
Export |
|
Industry |
Wholesales of Other Weaving of
Textiles |
|
Main Business |
P.E. Tarpaulins, PVC Tarpaulins, Mesh Nets,
Garden Tent and Covers |
|
Sub
Business |
Constructional Materials |
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Established (mm/dd/yyyy) |
08/29/2001 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Tarpaulins(24141506) |
|
Sell |
Synthetic fabrics(11161800) |
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Sell |
Mesh
Nets |
|
Name |
Roh Se-Ho |
|
Address |
Suite 514-604, 70, Hanbit-ro, Paju-si,
Gyeonggi-do, Korea |
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Date of Birth |
08/02/1968 |
|
Title |
Representative Director |
|
Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
300,000,000 |
|
Employees |
5 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Industrial Bank of Korea-Ilsan Western Dom
Branch Citibank, Korea |
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Corporate Registered No. |
110111-2319138 |
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Business Registered No. |
107-86-04994 |
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Permit & Licenses |
Int’l Trade No. : 30078262 |
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Shareholder Position |
N/A |
|
Company History |
08/29/2001 Incorporated as the present
name 06/22/2007 Moved to the present address
from 12-1, Yeouido-dong ,Yeongdeungpo-gu, Seoul, Korea 12/07/2007 Increased the authorized shares
to 1,000,000 shares from 40,000 shares 12/12/2007 Increased capital to
300,000,000 KRW from 50,000,000 KRW |
|
|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative Director |
Mr. |
Roh Se-Ho |
Male |
Korean |
08/29/2001 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2010 |
7,400,000,000 |
|
|
|
2009 |
-- |
-- |
-- |
|
2008 |
8,518,000,000 |
1,786,000,000 |
174,000,000 |
|
2007 |
6,036,000,000 |
1,496,000,000 |
40,000,000 |
|
2006 |
4,327,000,000 |
376,000,000 |
19,000,000 |
|
2005 |
5,151,000,000 |
365,000,000 |
21,000,000 |
|
2004 |
5,100,000,000 |
|
|
|
2003 |
4,800,000,000 |
|
|
The latest &
full financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issues Shares |
60,000 |
|
Main Products & Services |
P.E Tarpaulin PVC Laminated Fabric Industrial Net Fabric Net Hay Cover Truck Tarpaulin Orange Fence Field Cover Roofing Membrane PVC Vinyl Fabric |
|
Competitors |
SOONGWON
IND. CO., LTD. 632,
GEUMMAE-RI, HYORYEONG-MYEON, GUNWI-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-383-6166 FAX:+82-54-383-6199 DONG WON
INDUSTRY CO. 951-2,GEUMPO-RI,
NONGONG-EUP, DALSEONG-GUN, DAEGU, KOREA TEL:+82-53-615-9791~5 FAX:+82-53-615-9796 NEW PRIME
INC. RM. 1416,
GWANGHWAMUN OFFICIA, 163, SINMUNNO 1-GA, JONGNO-GU, SEOUL, KOREA TEL:+82-2-730-4228 FAX:+82-2-730-4229 |
(Activity &
Markets)
The Subject exports to Europe, USA, Canada and Chile.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
UK Pound |
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
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 |
|
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.