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Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
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Name : |
JESSY CORPORATION |
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Registered Office : |
Rm. 407, Hyundai Officetel 98-16, Guro 4-dong, Guro-gu, Seoul, Korea 152-841 |
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Country : |
South Korea |
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Date of Incorporation : |
28.01.2005 |
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Com. Reg. No.: |
113-81-95888 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Basic Metals |
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No. of Employees : |
4 |
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 : |
Small Company |
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Payment Behaviour : |
Slow |
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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 |
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Moderate |
B1 |
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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 |
JESSY
CORPORATION (Korean Company
Name : “(주)제시코”) |
|
Registered Address |
98-16, Guro 4-dong, Guro-gu, Seoul, Korea |
|
Building |
Rm. 407, Hyundai Officetel |
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Zip Code |
152-841 |
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Tel |
+82-2-869-5567~8 |
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Fax |
+82-2-869-5569 |
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Trading Address |
Rm. 407, Hyundai Officetel, 98-16, Guro
4-dong, Guro-gu, Seoul, Korea (New Address System : 5, Gurojungang-ro
18-gil, Guro-gu, Seoul, Korea) |
|
Tel |
+82-2-869-5567~8 |
|
Fax |
+82-2-869-5569 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Basic Metals |
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Main Business |
Electrolytic Tin Plate, Cold Rolled Steel In Coil, Electro Galvanized
Iron Sheet |
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Sub
Business |
Wholesale of Other Chemical Materials and Chemical Products |
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Established (mm/dd/yyyy) |
01/28/2005 |
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Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel plate(30102204) |
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Sell |
Tin plate(30102213) |
|
Name |
Lee Jung-Chan |
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Address |
Suite 1213-1001, 449, Cheolsan-dong,
Gwangmyeong-si, Gyeonggi-do, Korea |
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Date of Birth |
06/20/1950 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
50,000,000 |
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Employees |
4 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Korea Exchange Bank-Guro Branch |
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Corporate Registered No. |
1101113-161166 |
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Business Registered No. |
113-81-95888 |
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Permit & Licenses |
Int’l Trade No.: 45203288 |
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Shareholder Position |
N/A |
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Company History |
01/28/2005 Incorporated as the present name |
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jung-Chan |
Male |
Korean |
01/28/2008 |
|
Director |
Mr. |
Kim Sook-Ja |
Male |
Korean |
01/28/2008 |
|
Director |
M/S. |
Lee Woon-Jung |
Female |
Korean |
01/28/2008 |
|
Auditor |
Mr. |
Lee Eun-Sang |
Male |
Korean |
01/28/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
3,660,000,000 |
|
|
|
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2011 |
4,078,000,000 |
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2010 |
|
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2009 |
|
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2008 |
|
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|
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2007 |
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2006 |
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|
2005 |
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The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
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Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
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Total Issued Shares |
10,000 |
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Main Products & Services |
Electrolytic Tin Plate, Cold Rolled Steel In Coil, Electro Galvanized
Iron Sheet |
|
Competitors |
BUSAN STEEL CO., LTD. 720-4, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-325-1131~4 FAX:+82-51-324-6440 DEOGWON STEEL CO., LTD. 507-5, BANJEONG-DONG, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-223-7708 FAX:+82-31-223-0977 WELLSTEEL CO., LTD. 1752-1, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-7330 FAX:+82-51-831-7329 |
(Activity &
Markets)
The Subject deals
with the companies in Yemen, Egypt and China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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 |
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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 |
|
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 |
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<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.