MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
DONG WON CORPORATION |
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Registered Office : |
1486-1, Samgye-Dong, Gimhae-Si, Gyeongsangnam-Do, Korea, Rm.403, Samgye Winner’s Town, Zip code 621-070 |
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Country : |
South Korea |
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Date of Incorporation : |
07.03.2006 |
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Com. Reg. No.: |
615-81-47752 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Sections for Ships, Wholesales
and Retails of Materials for Ships |
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No. of Employees : |
08 |
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 : |
Slow but Correct |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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South Korea |
A2 |
A2 |
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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 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.
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Source : CIA |
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Company
Name |
DONG WON CORPORATION (Korean Company Name : “(주)동원”) |
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Registered Address |
1486-1, Samgye-dong, Gimhae-si, Gyeongsangnam-do, Korea |
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Building |
Rm.403, Samgye Winner’s Town |
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Zip Code |
621-070 |
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Tel |
+82-55-343-7774 |
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Fax |
+82-55-343-7771 |
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Website |
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Trading
Address |
Rm.403, Samgye Winner’s Town, 1486-1, Samgye-dong,
Gimhae-si, Gyeongsangnam-do, Korea |
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Tel |
+82-55-343-7774 |
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Fax |
+82-55-343-7771 |
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Other
Address-Sunwoo |
376-3, Jangbang-ri, Hallim-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
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Tel |
+82-55-343-7774 |
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Fax |
+82-55-343-7771 |
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Type |
Export/Import |
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Industry |
Manufacture
of Sections for Ships, Wholesales and
Retails of Materials for Ships |
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Main Business |
Steel Structure, Metal Products, Plant,
Equipment and facilities for Environment |
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Established (mm/dd/yyyy) |
03/07/2006 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Metal Products |
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Sell |
Steel Structure |
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Name |
Kim Ik-Kyung |
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Address |
Suite
802-1804, 1371, Yulha-ri, Jangyu-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
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Date of
Birth |
06/20/1971 |
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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) |
800,000,000 |
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Employees |
8 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
Busan Bank-Samgye Dong Branch |
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Corporate Registered No. |
1955110-085956 |
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Business Registered No. |
615-81-47752 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
03/07/2006 Incorporated as the present name 11/06/2009 Increased capital to 320,000 shares
from 40,000 shares 11/07/2009 Increased capital to 800,000,000
KRW from 100,000,000 KRW 06/03/2010 Moved to the present HQ address
from 644-1, Gasan-ri, Hallim-myeon, Gimhae-si, Gyeongsangnam-do, Korea 07/22/2010 Decided to start Corporate
Reviving Procedure by Changwon District Court(2010HOIHAP30) 12/31/2010 Decided to withdraw of Corporate
Reviving Procedure 03/31/2011 Closed according to the National
Tax Services 06/14/2011 Reach a verdict of Bankrupt by
Changwon District Court(2011HAHAP2) 02/18/2013 Completed Bankrupt Procedure |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Ik-Kyung |
Male |
Korean |
05/25/2007 |
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Trustee
of Bankrupt Procedure |
Mr. |
Hwang Seok-Bo |
Male |
Korean |
06/14/2011 |
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Auditor |
Mr. |
Kim Kui-Deuck |
Male |
Korean |
03/07/2009 |
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Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2009 |
3,029,000,000 |
4,140,000,000 |
69,000,000 |
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2008 |
12,674,000,000 |
4,431,000,000 |
343,000,000 |
|
2007 |
2,119,000,000 |
2,152,000,000 |
73,000,000 |
The latest &
full financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
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Authorized Capital(KRW) |
3,200,000,000 |
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Paid-Up Capital(KRW) |
800,000,000 |
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Total Issued Shares |
80,000 |
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Main Products & Services |
Steel Structure, Metal Products, Plant, Equipment
and facilities for Environment |
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Competitors |
DAEKYUNG MACHINERY & ENGINEERING CO.,
LTD. 125-2, BUGOK-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-278-9000 FAX:+82-52-273-9898 ILSUNG CORPORATION 917, WONSAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN,
KOREA TEL:+82-52-231-7514~5 FAX:+82-52-239-0333 DKT CO., LTD. 916-1, WONSAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-231-7300 FAX:+82-52-238-7291 |
(Activity & Markets)
The Subject deals
with the companies in India.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.04 |
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UK Pound |
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.