|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMS CORPORATION |
|
|
|
|
Registered Office : |
1, Janggyo-dong, Jung-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
11.02.2010 |
|
|
|
|
Com. Reg. No.: |
130-86-49176 |
|
|
|
|
Legal Form : |
Co., Ltd., by Shares |
|
|
|
|
Line of Business : |
Wholesale of Chemical Materials and Chemical Products |
|
|
|
|
No. of Employees : |
05 |
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 : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 |
Basic
|
Company Name |
IMS CORPORATION (Korean Copany Name : “(주)아이엠에스코퍼레이션”) |
|
Registered
Address |
1, Janggyo-dong, Jung-gu, Seoul, Korea |
|
Building |
Rm. 2210, Janggyo Bldg. |
|
Zip Code |
100-760 |
|
Tel |
+82-2-588-8818 |
|
Fax |
+82-2-588-9384 |
|
E-mail |
msk@imscorp.kr |
|
Website |
www.imscorp.kr |
|
Trading Address |
Rm. 2210, Janggyo Bldg., 1, Janggyo-dong, Jung-gu, Seoul, Korea (New Address System : 363, Samil-daero, Jung-gu, Seoul, Korea) |
|
Tel |
+82-70-8899-9384 |
|
Fax |
+82-2-588-9384 |
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical
Products |
|
Main Business |
Caustic Soda, Glycerine |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
02/11/2010 |
The Subject
Company occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Inorganic hydroxides(12352305) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
CEO’s
|
Name |
Kim Min-Sang |
|
Address |
Suite 204-301,
300, Omok-ro, Yangcheon-gu, Seoul, Korea |
|
Date of Birth |
03/20/1974 |
|
Title |
Representative
Director |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
300,000,000 |
|
Employees |
5 |
|
Formation |
Co., Ltd., by Shares |
|
Bank Details |
Korea Exchange
Bank-Nonhyun Nam Branch |
|
Corporate
Registered No. |
121111-0198599 |
|
Business
Registered No. |
130-86-49176 |
|
Permit &
Licenses |
N/A |
|
Shareholder
Position |
N/A |
|
Company
History |
02/11/2010
Incorporated as the present name 01/27/2012
Increased the authorized shares to 1,000,000 shares from 80,000 shares 01/28/2012
Increased capital to 200,000,000 KRW from 100,000,000 KRW 10/30/2013
Increased capital to 300,000,000 KRW from 200,000,000 KRW 05/25/2012
Moved to the present HQ address from Samkyung Bldg.,167, Nae-dong,
Ojeong-gu, Bucheon-si, Gyeonggi-do, Korea |
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative Director |
Mr. |
Kim Min-Sang |
Male |
Korean |
02/11/2010 |
|
Auditor |
M/S. |
Kim Ji-Young |
Female |
Korean |
02/11/2010 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
46,000,000,000 |
|
|
|
|
2011 |
28,964,000,000 |
3,458,000,000 |
375,000,000 |
|
2010 |
12,870,000,000 |
595,000,000 |
141,000,000 |
The 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) |
5,000,000,000 |
|
Paid-Up
Capital(KRW) |
300,000,000 |
|
Total Issues
Shares |
60,000 |
Trade Partners &
Competitors
|
Suppliers |
SK ENERGY CO., LTD.(110111-3710385) SKC LTD(130111-0001585) HONAM PETRO CHEMICAL CORPORATION(110111-0193196) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.( 130111-0006246) MARUBENI CORPORATION(JAPAN) |
|
Competitors |
JMC
CORPORATION 125,
HWASAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN, KOREA TEL:+82-52-231-5741 FAX:+82-52-238-9210 KOC CO., LTD. 749-4,
HWASAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN, KOREA TEL:+82-52-238-5885 FAX:+82-52-238-5886 KWANGJIN
CHEMICAL CO., LTD. 1DA-306, SIHWA
INDUSTRIAL COMPLEX, 1245-5, JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-498-4555 FAX:+82-31-498-4557 |
Sales by Region
(Activity & Markets)
The Subject
deals with the companies in Japan.
Court Action
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 : |
NIS |
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.