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Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
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Name : |
POLYCHEM KOREA LTD. |
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Registered Office : |
2nd Fl., 72-8, Eungam 1-dong, Eunpyeong-gu, Seoul, Korea - 122-906 |
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Country : |
South Korea |
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Date of Incorporation : |
01.10.2004 |
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Com. Reg. No.: |
110-10-***** |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Synthetic Rubber and Plastics Materials |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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 |
POLYCHEM KOREA LTD. (Korean Company Name : “폴리켐코리아”) |
|
Registered Address |
2nd Fl., 72-8, Eungam 1-dong,
Eunpyeong-gu, Seoul, Korea |
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Zip Code |
122-906 |
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Tel |
+82-2-357-8398 |
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Fax |
+82-2-357-8310 |
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E-mail |
cbjlnsok@yahoo.co.kr |
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Trading Address |
2nd Fl., 72-8, Eungam 1-dong,
Eunpyeong-gu, Seoul, Korea |
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Tel |
+82-2-357-8398 |
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Fax |
+82-2-357-8310 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Synthetic Rubber and Plastics Materials |
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Main Business |
Compound Resin, High Density Polyethylene(HDPE), Low Density Polyethylene(LDPE),
Linear Low Density Polyethylene(LLDPE), Polypropylene(PP), DOP |
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Sub
Business |
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Established (mm/dd/yyyy) |
10/01/2004 |
The Subject
occupies the premises of registered address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Elastomers(13101700) |
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Sell |
Plasticizers(12162000) |
|
Name |
Choi Byoung-Jin(Mobile: +82-10-6799-0398) |
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Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
Not applicable to the
Sole Proprietorship |
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Employees |
2 |
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Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
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Corporate Registered No. |
Not applicable to the Sole Proprietorship |
|
Business Registered No. |
110-10-***** (The full numbers are kept by the
National Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
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Company History |
10/01/2004 Established as the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Choi Byoung-Jin |
Male |
Korean |
10/01/2004 |
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) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
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Total Issued Shares |
Not Applicable to the Sole Proprietorship |
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Main Products & Services |
Compound Resin, High Density Polyethylene(HDPE), Low Density
Polyethylene(LDPE), Linear Low Density Polyethylene(LLDPE),
Polypropylene(PP), DOP |
|
Competitors |
DYM CO., LTD. 624-2, EOPSEONG-DONG, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-621-6250 FAX:+82-41-621-8420 JUNGWOO TRADING CO., LTD. 869-11, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-386-5003 FAX:+82-55-364-1778 HUMADE
CORPORATION RM. 2310, MASTERS TOWER BLDG., 553, DOHWA
1-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3275-5155~8 FAX:+82-2-3275-5157 |
The Subject deals with the companies in China, Germany and India.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
UK Pound |
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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 |
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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 |
|
<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.