|
Report Date : |
28.04.2014 |
DENTIFICATION DETAILS
|
Name : |
ACE CORPORATION |
|
|
|
|
Registered Office : |
55, Ikseon-dong, Jongno-gu, Seoul, Korea Rm. 231, Hyundai
Trevian 110-340 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
08.01.1996 |
|
|
|
|
Com. Reg. No.: |
101-20-66680 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale of Medical, Precision and Scientific Instruments
and Equipment |
|
|
|
|
No. of Employees |
01 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
ACE CORPORATION (Korean Company Name : “에이스상사”) |
|
Registered
Address |
55, Ikseon-dong, Jongno-gu, Seoul, Korea |
|
Building |
Rm. 231, Hyundai Trevian |
|
Zip Code |
110-340 |
|
Tel |
+82-2-766-5946 |
|
Fax |
+82-2-3672-4501 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm. 231, Hyundai Trevian, 59, Donhwamun-ro 11ga-gil, Jongno-gu, Seoul, Korea (Old Address System : Rm. 231, Hyundai Trevian, 55, Ikseon-dong, Jongno-gu, Seoul, Korea) |
|
Tel |
+82-2-766-5946 |
|
Fax |
+82-2-3672-4501 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Wholesale of Medical, Precision and Scientific Instruments
and Equipment |
|
Main Business |
Telescope |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
01/08/1996 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Laparoscopes or laparoscopic telescopes(42294805) |
CEO’s
|
Name |
Choi Chang-Young |
|
Address |
|
|
Date of Birth |
|
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable
to the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate
Registered No. |
Not Applicable
to the Sole Proprietorship |
|
Business
Registered No. |
101-20-66680 |
|
Permit &
Licenses |
Int’l Trade No.: 30697265 |
|
Shareholder Position |
The owner has
100% shares. |
|
Company
History |
01/08/1996
Established as the present name |
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Choi Chang-Young |
Male |
Korean |
01/08/1996 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
403,000,000 |
234,000,000 |
22,000,000 |
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) |
Not Applicable
to the Sole Proprietorship |
|
Paid-Up
Capital(KRW) |
Not Applicable
to the Sole Proprietorship |
|
Total Issued
Shares |
Not Applicable
to the Sole Proprietorship |
Products,
Technologies, Services Description
|
Main Products
& Services |
Telescope |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
CU CKIN CO.,
LTD. 5TH FI.,
SAMHYEONG CASTLE BLDG., 48-1, JAMWON-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-511-4288 FAX:+82-2-511-4624 MEDIWAY KOREA
CO., LTD. 3RD FL., SEOKCHO
BLDG., 1784-1, SEOBYEON-DONG, BUK-GU, DAEGU, KOREA TEL:+82-53-955-2225 FAX:+82-53-955-1124 HANKOOK
ANDERSON C-403,
LEADERSON TOWEN, 308, MANNYEON-DONG, SEO-GU, DAEJEON, KOREA TEL:+82-42-485-7412~3 FAX:+82-42-485-7416 |
Sales by Region
(Activity & Markets)
The Subject
exports to India.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.