MIRA INFORM REPORT

 

 

Report Date :

17.09.2013

 

IDENTIFICATION DETAILS

 

Name :

JINU DEV CO., LTD

 

 

Registered Office :

58-32, Ongjeong-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea 415-869

 

 

Country :

South Korea

 

 

Date of Incorporation :

07.11.2001

 

 

Com. Reg. No.:

113-81-72702

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Other Special Purpose Machinery, n.e.c.

 

 

No. of Employees :

11

 

 

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

 

Company Name

JINU DEV CO., LTD.

(Korean Company Name : “진우디이브이(주)”)

Registered Address

58-32, Ongjeong-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea

Zip Code

415-869

Tel

+82-70-7011-6669

Fax

+82-70-7016-1666

E-mail

jinu@jinu.biz;sklim@jinu.biz

Website

www.jinu.biz

Trading Address

58-32, Ongjeong-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea

(New Address System : 67-105, Gimpo-daero 2385beon-gil, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea)

Tel

+82-70-7011-6669

Fax

+82-70-7016-1666

Type

Export

Industry

 

  Main Business

Liquefied Petroleum Gas(LPG) & Air Mixers, Valves, Package Tank, Vaporazer, Auto Changeouer Device

  Sub Business

Heating, Air Conditioning and Plumbing Related Works

Established (mm/dd/yyyy)

11/07/2001

The Subject owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Gas regulators(40142201)

Sell

Storage tanks(24111803)

Sell

Oil and gas utilities(83101600)

Sell

Mixers and their parts and accessories(23190000)

Sell

Carburetors(26101710)

Buy

Motors(26101600)

Buy

Valves(40141600)

Buy

Thermal insulation(30141500)

Buy

Manipulators(24101610)

Buy

Pipe(40142100)

Buy

Iron plate(30102203)

Buy

Pressure indicators(41112403)

Buy

Air or gas tanks or cylinders(24111802)

Buy

Ball valves(40141607)

 

 

CEO’s

 

Name

Jang Seok-Woo

Address

Suite 306-506, 1312, Sanggye-dong, Nowon-gu, Seoul, Korea

Date of Birth

09/03/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

500,000,000

Employees

11

Formation

Co., Ltd by Shares

Bank Details

Korea Exchange Bank

Industrial Bank of Korea-Guro Central Branch

Corporate Registered No.

110111-2369620

Business Registered No.

113-81-72702

Permit & Licenses

11/30/2004 ISO 9001

 

Int’l Trade No.: 11964221

Shareholder Position

Name

Shares

%

YOU IN-KOO

70,000

70.00

CHANG SEOK-WOO

10,000

10.00

KIM YONG-WOON

5,000

5.00

YANG CHEOL-YOUNG

5,000

5.00

PARK JOON-MIN

5,000

5.00

OTHERS

5,000

5.00

TOTAL

100,000

100.00

Company History

11/07/2001 Incorporated as the present name

04/27/2010 Moved to the present name from 57-8, Sin-gok-ri, Gochon-eup, Gimpo-si, Gyeonggi-do, Korea

04/27/2010 Increased the authorized shares to 1,000,000 shares from 80,000 shares

04/28/2010 Increased capital to 500,000,000 KRW from 200,000,000 KRW

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Chang Seok-Woo

Male

Korean

11/28/2004

Director

Mr.

Kim Yong-Woon

Male

Korean

11/28/2004

Director

Mr.

Eom Joong-Seob

Male

Korean

03/09/2010

Auditor

Mr.

Lim Sun-Kyu

Male

Korean

05/21/2012

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

 

 

 

2011

4,152,660,000

 

203,070,000

2010

4,229,009,000

 

151,280,000

2009

4,117,310,000

 

143,040,000

2008

4,988,000,000

3,083,000,000

189,000,000

2007

2,596,190,000

2,359,000,000

131,110,000

2006

2,103,960,000

1,876,000,000

116,430,000

2005

3,499,400,000

1,860,000,000

177,990,000

2004

1,715,000,000

 

 

2003

1,868,000,000

 

 

The 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)

5,000,000,000

Paid-Up Capital(KRW)

500,000,000

Total Issued Shares

100,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Liquefied Petroleum Gas(LPG) & Air Mixers, Valves, Package Tank, Vaporazer, Auto Changeouer Device

 

Brand Name : JINU

 

 

Trade Partners & Competitors

 

Customers

POSCO ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979)

KC GREEN HOLDINGS CO.,LTD.(110111-0155683)

SAMSUNG HEAVY INDUSTRIES CO.,LTD.(110111-0168595)

SK GAS LTD(110111-0413247)

DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD.(194211-0000943)

DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.(110111-2137895)

KOYO(JAPAN)

Competitors

DOOHAP CLEAN TECH CO., LTD.

RM. 411, BYUCKSAN DIGITAL VALLEY 1-CHA, 212-16, GURO 3-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-2-2601-2612  FAX:+82-2-837-7888

 

KS ENVIRO CO., LTD.

RM. 606, SK TECHNO BLDG., 16-4, SEONGSU 1-GA 2-DONG, SEONGDONG-GU, SEOUL, KOREA

TEL:+82-2-3462-8000  FAX:+82-2-3463-3344

 

ECO BASE CO., LTD.

RM. 403, WONJAE BLDG., 468, GONGHEUNG-RI, YANGPYEONG-EUP, YANGPYEONG-GUN, GYEONGGI-DO, KOREA

TEL:+82-31-775-3666  FAX:+82-31-775-3667

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Japan.

 

 

Court Action

 

Not Available.

 

 

News Clipping

----

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.48

UK Pound

1

Rs.99.66

Euro

1

Rs.83.49

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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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