MIRA INFORM REPORT

 

 

Report Date :

29.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SAMWON WELS CO., LTD.

 

 

Registered Office :

555-9, Hogye 1-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea 2-129, Anyang International Distribution Complex 431-763

 

 

Country :

South Korea

 

 

Date of Incorporation :

13.07.1998

 

 

Com. Reg. No.:

119-81-28204

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Machine-Tools

 

 

No. of Employees :

4

 

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

 

 

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, 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

 

Basic Information

 

Basic

 

Company Name

SAMWON WELS CO., LTD.

Registered Address

555-9, Hogye 1-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea

Building

2-129, Anyang International Distribution Complex

Zip Code

431-763

Tel

+82-31-479-3773

Fax

+82-31-479-3775

Trading Address

2-130, Anyang International Distribution Complex, 555-9, Hogye 1-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea

Tel

+82-31-479-3773

Fax

+82-31-479-3775

Other Address-Ulsan Branch

921, Deoksin-ri, Onsan-eup, Ulju-gun, Ulsan, Korea

Tel

+82-52-258-4096

Fax

+82-52-258-4196

Type

Export/Import

Industry

Wholesale of Machine-Tools

  Main Business

Welding Electrodes

Established (mm/dd/yyyy)

07/13/1998

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Workshop machinery and equipment and supplies(23170000)

Sell

Welding wire(23171510)

Sell

Welders(23171508)

Sell

Welding rods(23171512)

 

 

CEO’s

 

Name

Lee In-Hak

Address

Suite 212-902, 165, Siheung-daero, Geumcheon-gu, Seoul

Date of Birth

12/12/1962

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

100,000,000

Employees

4

Formation

Co., Ltd by Shares

Bank Details

Industrial Bank of Korea-Hogye Dong Branch

Corporate Registered No.

110111-1565237

Business Registered No.

119-81-28204

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

07/13/1998 Incorporated as the present name

06/27/2006 Increased capital to 100,000,000 KRW from 50,000,000 KRW

08/01/2007 Moved to the present HQ address from 15-115, Anyang International Distribution Complex, 555-9, Hogye 1-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Lee In-Hak

Male

Korean

03/31/2010

Director

M/S.

Kim Young-Boon

Female

Korean

07/20/2009

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

06/2012

 

 

 

06/2011

 

 

 

06/2010

 

 

 

06/2009

 

 

 

06/2008

 

 

 

06/2007

5,042,000,000

1,633,000,000

106,000,000

06/2006

3,863,000,000

1,252,000,000

60,000,000

06/2005

2,903,000,000

979,000,000

44,000,000

The latest & full financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issues Shares

20,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Welding Electrodes

 

 

Trade Partners & Competitors

 

Suppliers

HYUNDAI WELDING CO., LTD.(110111-0185193)

Customers

 

Competitors

KOREA WELDS CO., LTD.

8-117, SIHWA TOOL COMPLEX, 1367-1, JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-430-2388  FAX:+82-31-430-0853

 

JUMBOSONN CORP.

201, YANGPYEONG-DONG 4-GA, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-2679-0123  FAX:+82-2-2676-8530

 

CHEMIKO TRADING CO., LTD.

4TH FL., CHEONGROK BLDG., 721-29, YEOKSAM 2-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-567-5336~9  FAX:+82-2-554-1284

 

 

News Clipping

 

Not Available.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.50

UK Pound

1

Rs.99.49

Euro

1

Rs.84.88

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.