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Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLRESCO CORPORATION |
|
|
|
|
Registered Office : |
11, Dongil-ro 18-gil, Gwangjin-gu, Seoul, Korea Rm. 302, Gwangwoo
Bldg. 143-842 |
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|
|
Country : |
South Korea |
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|
|
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Date of Incorporation : |
25.01.2011 |
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|
|
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Com. Reg. No.: |
206-86-50456 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Collection and Wholesale of Recycling Materials |
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|
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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 |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 and 2013 the economy experienced sluggish growth because of
market slowdowns in the United States, China, and the Eurozone. The
administration in 2014 is likely to face the challenge 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 about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
GLRESCO CORPORATION |
|
Registered Address |
11, Dongil-ro 18-gil, Gwangjin-gu, Seoul, Korea |
|
Building |
Rm. 302, Gwangwoo Bldg. |
|
Zip Code |
143-842 |
|
Tel |
+82-2-468-5751 |
|
Fax |
+82-2-468-5754 |
|
E-mail |
sales@glresco.com |
|
Website |
www.glresco.com |
|
Trading Address |
Rm. 302, Gwangwoo Bldg., 11, Dongil-ro 18-gil, Gwangjin-gu, Seoul,
Korea (Old Address System : Rm. 302, Gwangwoo Bldg., 24-5, Jayang 4-dong,
Gwangjin-gu, Seoul, Korea) |
|
Tel |
+82-2-468-5751 |
|
Fax |
+82-2-468-5754 |
|
Type |
Export |
|
Industry |
Collection and Wholesale of Recycling Materials |
|
Main Business |
Scrap Iron, Steel Scrap, Agricultural Raw Material |
|
Established (mm/dd/yyyy) |
01/25/2011 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Metal scrap(11191600) |
|
Name |
Kim Byung-Yoon(Bennion) |
|
Address |
Suite 204-501, 32, Gwangnaru-ro 56-gil,
Gwangjin-gu, Seoul, Korea |
|
Date of Birth |
11/11/1958 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
50,000,000 |
|
Employees |
4 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
1101114-523589 |
|
Business Registered No. |
206-86-50456 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
01/25/2011 Incorporated as the present name |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Kim Byung-Yoon(Bennion) |
Male |
Korean |
01/25/2011 |
|
Auditor |
M/S. |
Kim Da-Hyun |
Female |
Korean |
01/25/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
The financials are not available, and the
Subject Company does not have any obligations to release its financials to the
public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issues Shares |
50,000 |
|
Main Products & Services |
Scrap Iron, Steel Scrap, Agricultural Raw Material |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DAEHYUN NONFERROUS METAL CORP. 844-11, SONGMA-RI, DAEGOT-MYEON, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-989-6941 FAX:+82-31-989-3577 JASON & COMPANY CO., LTD. 8TH FL., DAEWOO BLDG., 526, NAMDAEMUNNO
5-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-6366-1234 FAX:+82-2-6366-1235 SOLMICS CO., LTD. 624, JANGDANG-DONG, PYEONGTAEK-SI,
GYEONGGI-DO, KOREA TEL:+82-31-660-8400 FAX:+82-31-664-8876 |
|
Sales/ Unit :Mil KRW |
2013 |
2012 |
2011 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports to Netherlands. And it
deals with the companies in USA, Brazil and China.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.