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Report Date : |
29.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNGWON STEEL |
|
|
|
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Registered Office : |
131-4, Seoksan-ri, Dong-myeon, Yangsan-si, Gyeongsangnam-do, Korea, Zip code 626-821 |
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Country : |
South Korea |
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|
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Date of Incorporation : |
Not Available |
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|
|
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Com. Reg. No.: |
Not Available |
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|
|
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Wholesaler of Basic Metals |
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|
|
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No. of Employees : |
Not Available |
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 |
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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 |
|
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 |
|
Company Name |
SUNGWON STEEL (Korean Company Name : “N/A”) |
|
Registered Address |
131-4, Seoksan-ri, Dong-myeon, Yangsan-si, Gyeongsangnam-do, Korea |
|
Zip Code |
626-821 |
|
Tel |
N/A |
|
Fax |
+82-55- 381-3318 |
|
Trading
Address |
131-4, Seoksan-ri, Dong-myeon, Yangsan-si,
Gyeongsangnam-do, Korea (New Address System : 52, Gyeseok-ro, Dong-myeon, Yangsan-si, Gyeongsangnam-do, Korea) |
|
Tel |
N/A |
|
Fax |
+82-55- 381-3318 |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Basic Metals |
|
Main Business |
Basic
Metals, Steel Products |
|
Established (mm/dd/yyyy) |
N/A |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel
plate(30102204) |
|
Sell |
Iron
sheet(30102503) |
|
Name |
N/A |
|
Address |
N/A |
|
Date of Birth |
N/A |
|
Title |
Owner |
|
Sex |
N/A |
|
Nationality |
N/A |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole
Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
N/A. (The 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. |
|
Company History |
N/A |
In our research
through the official sources including the Supreme Court Registry at which
every Co Ltd type of Company should be registered, we could not find the subject
company under the subject company name at the location of 52, Gyeseok-ro, Dong-myeon, Yangsan-si,
Gyeongsangnam-do, Korea. So we submit the report as a Sole Proprietorship Type of Company as long as the
subject company exists.
The fax number, +82-55- 381-3318, is working, but we
could not identify who’s whom.
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
|
N/A |
|
|
|
The financials are not
available, and the Subject Company does not have any obligations to release its
financials to the public.
|
Authorized Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable
to the Sole Proprietorship |
|
Total Issued Shares |
Not
Applicable to the Sole Proprietorship |
|
Main Products & Services |
Basic
Metals, Steel Products |
|
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)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.74 |
|
UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.72.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.