MIRA INFORM REPORT

 

 

Report Date :

26.06.2013

 

IDENTIFICATION DETAILS

 

Name :

SEJONG ENGINEERING CO., LTD.

 

 

Registered Office :

179-13, Cheongcheon-dong, Bupyeong-gu, Incheon, Korea 403-853

 

 

Country :

South Korea

 

 

Date of Incorporation :

14.03.2005

 

 

Com. Reg. No.:

130-86-12456

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture and Process of Machinery Parts

 

 

No. of Employees :

11

 

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 :

Unknown

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

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 Information

 

Company Name

SEJONG ENGINEERING CO., LTD.

(Korean Company Name : “(주)세종산기”)

Registered Address

179-13, Cheongcheon-dong, Bupyeong-gu, Incheon, Korea

Zip Code

403-853

Tel

+82-32-672-7811~2

Fax

+82-32-674-7801

E-mail

dy9993@paran.com;ys3426@naver.com;mc2huni@naver.com

Trading Address

179-13, Cheongcheon-dong, Bupyeong-gu, Incheon, Korea

Tel

+82-32-672-7811~2

Fax

+82-32-674-7801

Type

Export/Import

Industry

Manufacture and Process of Machinery Parts

  Main Business

Processing Works of Machinery Parts for Pharmaceuticals manufacturers & Health Food Manufacturers

Established (mm/dd/yyyy)

03/14/2005

The Subject Company occupies the premises of registered HQ address by leasing base.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Coating machines(23151502)

Sell

Battery chargers(26111704)

Sell

Batch mixers(23191000)

Sell

Form or fill or seal machinery(23152902)

Sell

Iron plate(30102203)

Sell

Hydraulic presses(27121500)

Buy

Nuts(31161700)

Buy

Aluminum(11101705)

Buy

Iron plate(30102203)

Buy

Stainless steel plate(30102205)

Buy

Bolts(31161600)

Buy

Non ferrous alloy(11101711)

 

 

CEO’s

 

Name

Yeo Dae-Shik

Address

Suite 603-503, 22, Gajwa 2-ro, Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea

Date of Birth

11/10/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

150,000,000

Employees

11

Formation

Co., Ltd by shares

Bank Details

N/A

Corporate Registered No.

121111-0130616

Business Registered No.

130-86-12456

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

03/14/2005 Incorporated

05/10/2007 Moved to 473-3, Gajwa-dong, Seo-gu, Incheon, Korea from 159-11, Dodang-dong, Wonmi-gu ,Bucheon-si, Gyeonggi-do, Korea

05/10/2007 Changed Korean company name to SEJONG ENGINEERING CO., LTD., “(주)세종산기” from SEJONG ENGINEERING CO., LTD., “ (주)세종엔지니어링”

03/10/2009 Moved to the present HQ address from 473-3, Gajwa-dong, Seo-gu, Incheon, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Jung Ju-Ik

Male

Korean

03/14/2005

Director

Mr.

Lee Won-Woo

Male

Korean

03/14/2005

Director

Mr.

Lee Sang-Ho

Male

Korean

03/14/2005

Auditor

Mr.

Lee Jae-Young

Male

Korean

03/14/2005

 

 

Financials

 

The 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)

600,000,000

Paid-Up Capital(KRW)

150,000,000

Total Issues Shares

30,000

 

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Processing Works of Machinery Parts for Pharmaceuticals manufacturers & Health Food Manufacturers

 

 

Trade Partners & Competitors

 

Customers

SEJONG PHARMATECH CO., LTD.(124311-0038227)

Competitors

KEUMSUNG MACHINERY CO., LTD.

6BA-504, SIHWA INDUSTRIAL COMPLEX, 683-3, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-491-5505  FAX:+82-31-491-5504

 

HL PHARM TECH CO., LTD.

3BA-815, SIHWA INDUSTRIAL COMPLEX, 2180-8, JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-434-0126~7  FAX:+82-31-433-3157

 

SHINWHA PHARMA TECH

3RA-202, SIHWA INDUSTRIAL COMPLEX, 1273-1, JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-434-3240  FAX:+82-31-434-3239

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

SEJONG PHARMATECH CO., LTD.(124311-0038227)

419-4, CHEONGCHEON 2-DONG, BUPYEONG-GU, INCHEON, KOREA

TEL:+82-32-508-1280~7 FAX:+82-32-508-1288~9

 

SEJONG INDUSTRIAL MACHINERY CO., LTD.(121111-0130616)

 

 

Sales by Region

 (Activity & Markets)

 

The subject exports to Asia including India, Europe, Africa and North America.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.70

UK Pound

1

Rs.92.25

Euro

1

Rs.78.38

 

 

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

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.