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Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MIRAE GLOBAL LIMITED CO., LTD. |
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Registered Office : |
99-6, Garak-dong, Songpa-gu, Seoul, Korea Rm. 814, Dongbu Sun-ville
138-160 |
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Country : |
South Korea |
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Date of Incorporation : |
26.04.2002 |
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Com. Reg. No.: |
211-87-14139 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
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No. of Employees : |
3 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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.
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Source : CIA |
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Company Name |
MIRAE GLOBAL LIMITED CO., LTD. |
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Registered Address |
99-6, Garak-dong, Songpa-gu, Seoul, Korea |
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Building |
Rm. 814, Dongbu Sun-ville |
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Zip Code |
138-160 |
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Tel |
+82-2-2242-5044 |
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Fax |
+82-2-2242-5046 |
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E-mail |
hscho@mic.co.kr;emkim@mic.co.kr |
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Website |
www.mic.co.kr |
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Trading Address |
Rm. 814, Dongbu Sun-ville, 99-6, Garak-dong, Songpa-gu, Seoul, Korea |
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Tel |
+82-2-2242-5044 |
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Fax |
+82-2-2242-5046 |
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Type |
Export/Import |
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Industry |
Wholesale of Other Chemical Materials and Chemical Products |
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Main Business |
Propylene, Toluene, Mixed Xylene, Solvent, Wax, High Density
Polyethylene, Polyethylene Terephthalate, Polyester Yarn, PA,DOP, DOA, NBR,
DBP, PTA, DMT |
|
Sub
Business |
Meat Products, Gold Aid Products |
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Established (mm/dd/yyyy) |
04/26/2002 |
The Subject owns the premises of registered
HQ address.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
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Sell |
Synthetic Fiber |
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Sell |
Petrochemical Products |
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Sell |
Basic Chemicals |
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Name |
Cho Hee-Sung |
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Address |
Suite 44-1402, 44, Ogeum-dong,
Songpa-gu, Seoul, Korea |
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Date of Birth |
12/06/1956 |
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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) |
100,000,000 |
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Employees |
3 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Hana Bank-Nonhyun Central Branch |
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Corporate Registered No. |
110111-2509078 |
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Business Registered No. |
211-87-14139 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
04/26/2002 Incorporated as the present name 09/04/2006 Moved to Rm. 103, 322-15, Dapsimni 5-Dong, Dongdaemun-Gu,
Seoul, Korea from 725, Suseo-dong, Gangnam-gu, Seoul, Korea 10/01/2008 Moved to the present HQ address from Rm. 103, 322-15,
Dapsimni 5-Dong, Dongdaemun-Gu, Seoul, Korea 08/24/2012 increased capital to 100,000,000
from 50,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Cho Hee-Sung |
Male |
Korean |
04/26/2002 |
|
Director |
M/S. |
Lee In-Sook |
Female |
Korean |
03/31/2005 |
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Auditor |
Mr. |
Cho Hee-Joon |
Male |
Korean |
03/31/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2011 |
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2010 |
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2009 |
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2008 |
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2007 |
10,312,000,000 |
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2006 |
3,631,000,000 |
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2005 |
- |
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2004 |
9,337,000,000 |
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2003 |
9,216,000,000 |
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The latest & 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 |
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Paid-Up Capital(KRW) |
100,000,000 |
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Total Issues Shares |
20,000 |
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Main Products & Services |
Propylene, Toluene, Mixed Xylene, Solvent, Wax, High Density
Polyethylene, Polyethylene Terephthalate, Polyester Yarn, PA,DOP, DOA, NBR,
DBP, PTA, DMT |
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Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
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Customers |
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Competitors |
JUNYOUNG CORPORATION 6TH FL., GREEN POINT BLDG., 655-12,
SINSA-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-547-8595 FAX:+82-2-547-8598 COGNIS KOREA LTD. 5TH FL., GANGNAM METRO BLDG., 1339-9,
SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3489-7600 FAX:+82-2-584-7603 NAMDUCK MOOLSAN CO., LTD. RM. 1014, YEOUIDO DEPT. STORE, 36-2,
YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3774-0900 FAX:+82-2-3774-0901 |
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Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
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Export |
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Domestic |
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Total |
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The Subject deals with the companies in China, India, Indonesia, Nigeria,
Pakistan, Peru, Philippines, Saudi Arabia and USA.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
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Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.