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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SEOK-AM TECH CO., LTD. |
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Registered Office : |
552-1, Dogok 1-dong, Gangnam-gu, 3rd Fl., Jinyang Bldg., Zip Code 135-858, Seoul, Korea |
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Country : |
South Korea |
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Date of Incorporation : |
29.06.2009 |
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Com. Reg. No.: |
220-87-83872 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesaler of other machinery and equipment including :- ·
Distribution and Conditioning Systems and
Equipment and Components · Heating and ventilation and air circulation · Heating equipment and parts and accessories · Forging and Equipment for Power plant, chemical and petrochemical plant, refinery and environmental plant |
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|
|
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
|
Without Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 |
SEOK-AM TECH
CO., LTD. (Trade Name : SATCO) (Korean Company Name : “(주)석암테크”) |
|
Registered Address |
552-1, Dogok 1-dong, Gangnam-gu, Seoul, Korea |
|
Building |
3rd
Fl., Jinyang Bldg. |
|
Zip Code |
135-858 |
|
Tel |
+82-2-3288-8222 +82-2-2051-0397 |
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Fax |
+82-2-3288-8223 |
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E-mail |
|
|
Website |
|
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Trading
Address |
3rd Fl., Jinyang Bldg., 552-1, Dogok 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3288-8222 +82-2-2051-0397 |
|
Fax |
+82-2-3288-8223 |
|
Other
Address-Gimhae Factory |
786-1, Toerae-ri, Hallim-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-342-8220 ~1 |
|
Fax |
+82-55-342-8226 |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Other Machinery and Equipment n.e.c. |
|
Main Business |
Heat
Exchanger Equipment, Chemical, Subsistence Commodities, Forging |
|
Sub
Business |
Wholesale
of Other Chemical Materials and Chemical Products |
|
Established (mm/dd/yyyy) |
06/29/2009 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Heating equipment and parts and
accessories(40101800) |
|
Name |
Park
Kuk-Won |
|
Address |
Suite 103-402, 22, Dogok-ro 7-gil,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
09/23/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
400,000,000 |
|
Employees |
35 |
|
Formation |
Co.,
Ltd by Shares |
|
Bank Details |
Woori Bank |
|
Corporate Registered No. |
110111-4126771 |
|
Business Registered No. |
220-87-83872 |
|
Permit & Licenses |
Int’l
Trade No.: 11635491 |
|
Shareholder Position |
N/A |
|
Company History |
06/29/2009 Incorporated as the present name 10/05/2011 Moved to the present HQ address
from Rm.
501, Young Place Bldg., 837-33, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 10/24/2012 10/25/2012
Increased capital to 400,000,000 KRW
from 100,000,000 KRW |
|
|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Park
Kuk-Won |
Male |
Korean |
06/29/2009 |
|
Director |
M/S. |
Yoon Soon-Joong |
Female |
Korean |
06/29/2009 |
|
Auditor |
Mr. |
Yoon Hee-Joong |
Male |
Korean |
06/29/2009 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
5,389,000,000 |
|
70,000,000 |
|
2009 |
7,010,000,000 |
|
46,000,000 |
The latest & full
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issues Shares |
80,000 |
|
Main Products & Services |
Distribution and Conditioning Systems and Equipment and Components Heating and ventilation and air circulation Heating equipment and parts and accessories Forging
and Equipment for Power plant, chemical and petrochemical plant, refinery and
environmental plant |
|
Customers |
WONIL CO.(KOREA) GUMKWANG SCRAP CO., LTD.(KOREA) WONIL F&T CO., LTD.(KOREA) |
|
Competitors |
SHIN HAN HEAT EXCHANGER IND. CO. 127-69, GUJANG-RI, PALTAN-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-354-3242 FAX:+82-31-354-3246 KOREA HEAT EXCHANGER CO., LTD. FREE TRADE ZONE, 502-1, OSIKDO-DONG,
GUNSAN-SI, JEOLLABUK-DO, KOREA TEL:+82-63-441-5510 FAX:+82-63-464-5440 TAEWON UBC CO., LTD. NOKSAN NATIONAL INDUSTRIAL COMPLEX,
1635-20, SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA TEL:+82-51-831-0310 FAX:+82-51-831-0340 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
WONIL
F&T CO., LTD.(195511-0112816) |
(Activity & Markets)
The subject deals
with the companies in India, China, Kuwait and Japan.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.