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Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ILSHIN STEEL INTERNATIONAL CO. |
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Registered Office : |
152, Eoyeon-gil, Cheongbuk-myeon, Pyeongtaek-si, Gyeonggi-do |
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Country : |
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Date of Incorporation : |
01.07.1998 |
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Com. Reg. No.: |
125-07-72398 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals |
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No. of Employees : |
2 |
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 – September 30, 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 |
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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 |
Basic
|
Company Name |
ILSHIN STEEL INTERNATIONAL CO. |
|
Registered Address |
152, Eoyeon-gil, Cheongbuk-myeon, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Zip Code |
451-833 |
|
Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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E-mail |
mhcho@ilshinsteel.co.kr;overseas@ilshinsteel.co.kr |
|
Website |
www.ilshinsteel.co.kr |
|
Trading Address |
152, Eoyeon-gil, Cheongbuk-myeon, Pyeongtaek-si, Gyeonggi-do, Korea (Old Address System : 177, Baekbong-ri, Cheongbuk-myeon, Pyeongtaek-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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Other Address |
Rm.603, Kyungsung Bldg., 814-1, Seojeong-dong,
Pyeongtaek-si, Gyeonggi-do, Korea |
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Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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Type |
Export |
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Industry |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals |
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Main Business |
Stainless Steel Sheet, Stainless Steel Coil |
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Sub
Business |
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Established (mm/dd/yyyy) |
07/01/1998 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel(11101704) |
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Sell |
Stainless Steel Sheet |
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Sell |
Stainless Steel Coil |
|
Sell |
Basic Metals |
CEO’s
|
Name |
Cho Moon-Hyun |
|
Date of Birth |
12/08/1959 |
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Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
2 |
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Formation |
Sole Proprietorship |
|
Bank Details |
Kookmin Bank-Songtan Branch |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
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Business Registered No. |
125-07-72398 |
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Permit & Licenses |
Int’l Trade No.: 21037634 |
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Shareholder Position |
N/A |
|
Company History |
07/01/1998 Established as ILSHIN STEEL
INTERNATIONAL CO. 1125/2004 Awarded the export top prize |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Cho Moon-Hyun |
Male |
Korean |
04/03 2008 |
|
Auditor |
M/S. |
Lee Ok-Hee |
Female |
Korean |
07/01/1998 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2009 |
8,781,000,000 |
1,493,000,000 |
253,000,000 |
|
2008 |
7,135,000,000 |
1,467,000,000 |
195,000,000 |
The latest & full financials are not available,
and the Subject Company does not have any obligations to release its financials
to the public.
Financial
Description
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
10,000 |
Products, Technologies,
Services Description
|
Main Products & Services |
Since 1998, The Subject Company is one of
the Korean trading companies, which is specialized in stainless steel
products, as an exporter, importer and distributor of stainless steel flat,
long and profile products. Its main business field is to export all of the
stainless steel products produced by Korean mills for overseas market. Cold Rolled Stainless Steel Strip in Coils Cold Rolled Stainless Steel Sheets & in
Coils, BA Finished Cold Rolled Stainless Steel Sheets & in
Coils, 2B Finished Stainless Steel Premium Finishes in Sheets Stainless Steel ERW Tubes for Automotive
Exhaust Systems Stainless Steel Seamless Pipes & Tubes Hot Rolled Stainless Wire Rods Hot Rolled Stainless Steel Round Bars Cold Drawn Round Bars Hot Rolled Annealed & Pickled Stainless
Steel Equal Angle Bars Hot Rolled Annealed & Pickled Stainless
Steel Equal Flat Bars Stainless Steel Silted Flat Bars from HRC Tool Steel Round Bars Tool Steel Wide Flat Bars |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
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Trade Partners
& Competitors
|
Competitors |
SUNGHO STEEL CO., LTD. 823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA TEL:+82-53-356-3587 FAX:+82-53-351-7577 KOREA STAINLESS METAL CO., LTD. 660-39, BONGAM-DONG, MASAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-299-6111 FAX:+82-55-299-6114 DUCKSOO METAL CO., LTD. 1658-5, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-7177 FAX:+82-51-831-7185 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
ILSHIN STEEL CO., LTD.(131311-0081186) |
Sales by Region
(Activity & Markets)
The Subject exports to Australia, Brazil and India.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
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.