MIRA INFORM REPORT

Report Date :

07.11.2013

IDENTIFICATION DETAILS

Name :	METALONE CO., LTD.

Registered Office :	887-5, Geomdan-dong, Buk-gu, Daegu, Korea 702-800

Country :	South Korea

Date of Incorporation :	21.01.2008

Com. Reg. No.:	504-81-75211

Legal Form :	Company Ltd by Shares

Line of Business :	Wholesale of Basic Metals, Steel Plate, Angle Iron.

No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Korea

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	METALONE CO., LTD. (Korean Company Name : “(주)메탈원”)
Registered Address	887-5, Geomdan-dong, Buk-gu, Daegu, Korea
Zip Code	702-800
Tel	+82-53-381-7695
Fax	+82-53-383-7695
E-mail	metalone1@naver.com
Website	--

Trading Address	887-5, Geomdan-dong, Buk-gu, Daegu, Korea (New Address System : 60, Geomdangongdan-ro, Buk-gu, Daegu, Korea)
Tel	+82-53-381-7695
Fax	+82-53-383-7695

Type	Export
Industry	Wholesale of Basic Metals
Main Business	Steel Plate, Angle Iron

Established (mm/dd/yyyy)	01/21/2008

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

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Steel plate(30102204)
Sell	Iron plate(30102203)
Sell	Steel channels(30101804)

CEO’s

Name	Choi Bong-Ho
Address	Suite 101-501, 750, Maeho-dong, Suseong-gu, Daegu, Korea
Date of Birth	02/16/1959
Title	Representative Director
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	50,000,000
Employees	2
Formation	Co., Ltd by Shares
Bank Details	Nonghyup Bank
Corporate Registered No.	170111-0348038
Business Registered No.	504-81-75211
Permit & Licenses	N/A
Shareholder Position	N/A
Company History	01/21/2008 Incorporated as the present name

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Representative Director	Mr.	Choi Bong-Ho	Male	Korean	04/15/2009
Auditor	Mr.	Park Kyung-Nam	Male	Korean	04/15/2009

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)	200,000,000
Paid-Up Capital(KRW)	50,000,000
Total Issues Shares	5,000

Products, Technologies, Services Description

Main Products & Services

Steel Plate, Angle Iron

Trade Partners & Competitors

Competitors

SAM YANG STEEL IRON CO., LTD.

813-5, HYOMUN-DONG, BUK-GU, ULSAN, KOREA

TEL:+82-52-288-8880 FAX:+82-52-289-2244

KYUNG BUK STEEL CO., LTD.

230-17, HAKJANG-DONG, SASANG-GU, BUSAN, KOREA

TEL:+82-51-323-2321~4 FAX:+82-51-323-4403

SUNGHO STEEL CO., LTD.

823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA

TEL:+82-53-356-3587 FAX:+82-53-351-7577

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

Affiliates

DAE YOUNG STEEL HOUSING CO.(KOREA)

386-2, DONGIN-DONG 4-GA, JUNG-GU, DAEGU, KOREA

Sales by Region (Activity & Markets)

The Subject exports to India, UK, Pakistan, Bangladesh and Vietnam.

Court Action

Not Available.

News Clipping

----

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.92
UK Pound	1	Rs.99.60
Euro	1	Rs.83.64

INFORMATION DETAILS

Report Prepared by :

NIT

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%)

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