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Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
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Name : |
JOEUN INK &
CHEMICAL CO., LTD. |
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Registered Office : |
1037-83, Mae-ri, Sangdong-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
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Country : |
South Korea |
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Date of Incorporation : |
20.05.2010 |
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Com. Reg. No.: |
602-01-47910 |
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Legal Form : |
Co., Ltd., by Shares |
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Line of Business : |
Manufacture of Printing Ink |
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No. of Employees : |
24 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – 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 |
|
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 currently is among the world's 20 largest
economies. 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. With the global economic
downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the
third quarter of 2009, the economy began to recover, in large part due to export
growth, low interest rates, and an expansionary fiscal policy, and growth was
3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by
both governments and is projected to go into effect in early 2012. 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 |
JOEUN INK &
CHEMICAL CO., LTD. (Korean Company
Name : “(주)조은잉크케미칼”) |
|
Registered Address |
1037-83, Mae-ri, Sangdong-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
|
Zip Code |
621-813 |
|
Tel |
+82-55-329-0615 |
|
Fax |
+82-55-329-0617 |
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E-mail |
|
|
Website |
|
|
Trading Address |
1037-83, Mae-ri, Sangdong-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-329-0615 |
|
Fax |
+82-55-329-0617 |
|
Type |
Export |
|
Industry |
Manufacture of Printing Ink |
|
Main Business |
Printing Ink, Offset Print Ink |
|
Established (mm/dd/yyyy) |
05/20/2010 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Printing and drawing inks(60121800) |
|
Name |
Lee Jong-Man |
|
Address |
Suite 202-1701, 683-3, Eomgung-dong,
Sasang-gu, Busan, Korea |
|
Date of Birth |
03/01/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
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Capital (KRW) |
155,000,000 |
|
Employees |
24 |
|
Formation |
Co., Ltd., by Shares Venture Business |
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Bank Details |
Hana Bank-Busan Branch |
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Corporate Registered No. |
195511-0127576 |
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Business Registered No. |
602-01-47910 |
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Permit & Licenses |
Int’l Trade No.: 12080209 |
|
Shareholder Position |
N/A |
|
Company History |
02/10/1998 Established as JOEUN INK & CHEMICAL CO. 05/20/2010 Incorporated as the present name 12/24/2011 Increased capital to 155,000,000
KRW from 50,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jong-Man |
Male |
Korean |
05/20/2010 |
|
Director |
Mr. |
Kwon Tae-Hyun |
Male |
Korean |
05/20/2010 |
|
Auditor |
Mr. |
Shin Myung-Koo |
Male |
Korean |
05/20/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2010 |
|
|
|
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2009 |
|
|
|
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2008 |
|
|
|
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2007 |
2,574,000,000 |
391,000,000 |
77,000,000 |
|
2006 |
2,097,000,000 |
311,000,000 |
50,000,000 |
|
2005 |
1,992,000,000 |
288,000,000 |
41,000,000 |
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) |
200,000,000 |
|
Paid-Up Capital(KRW) |
155,000,000 |
|
Total Issued Shares |
31,000 |
|
Main Products & Services |
Printing Ink |
|
Competitors |
ALPHACHEM CO., LTD. 407-1, MAETAN 3-DONG, YEONGTONG-GU,
SUWON-SI, GYEONGGI-DO, KOREA TEL:+82-31-214-4428~9 FAX:+82-31-216-4429 HAN YANG INK. CO., LTD. 55-1, YANGPYEONG-DONG 5-GA,
YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2676-6667 FAX:+82-2-2671-9686 DIPI COLOR KOREA CO., LTD. 952-14, DEOKJEONG-RI, SAMSEONG-MYEON,
EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-877-3165 FAX:+82-43-877-4395 |
The Subject exports
to Hong Kong and Thailand.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
|
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.71.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.