MIRA INFORM REPORT

Report Date :

06.08.2014

IDENTIFICATION DETAILS

Name :	SUNBRIDGE CO., LTD.

Registered Office :	122, Eonju-ro, Gangnam-gu, Seoul, Korea Rm. 408, Woosung Character Ville 135-856

Country :	South Korea

Date of Incorporation :	08.01.2004

Com. Reg. No.:	114-86-33352

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesale of synthetic rubber and plastics materials

No. of Employees	07

RATING & COMMENTS

MIRA’s Rating :

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Korea

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. South 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. South 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-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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP

Source : CIA

Basic Information

Basic

Company Name	SUNBRIDGE CO., LTD. (Korean Company Name : “(주)썬브릿지”)
Registered Address	122, Eonju-ro, Gangnam-gu, Seoul, Korea
Building	Rm. 408, Woosung Character Ville
Zip Code	135-856
Tel	+82-2-574-2450
Fax	+82-2-574-2451
E-mail	yjung@sunbridge.co.kr
Website	www.sunbridge.co.kr
Trading Address	Rm. 408, Woosung Character Ville, 122, Eonju-ro, Gangnam-gu, Seoul, Korea (Old Address System : Rm. 408, Woosung Character Ville, 467-18, Dogok 2-dong, Gangnam-gu, Seoul, Korea)
Tel	+82-70-8275-3471~2
Fax	+82-2-574-2451
Other Address
Tel
Fax
Type	Export/Import
Industry	Wholesale of Synthetic Rubber and Plastics Materials
Main Business	Plastic, Plastic Film, Silicon Wafer
Sub Business
Established (mm/dd/yyyy)	01/08/2004

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Silicone VMQ and PMQ and PVMQ(13101708)
Sell	Semiconductor wafers(32131003)

CEO’s

Name	Chung Yong
Address	Suite 168-601, 99, Olympic-ro, Songpa-gu, Seoul, Korea
Date of Birth	09/11/1976
Title	Representative Director
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	50,000,000
Employees	7
Formation	Co., Ltd by Shares
Bank Details	N/A
Corporate Registered No.	110111-2931370
Business Registered No.	114-86-33352
Permit & Licenses	Int’l Trade No.: 45141245
Shareholder Position	N/A
Company History	01/08/2004 Incorporated as the present name

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Representative Director	Mr.	Chung Yong	Male	Korean	02/17/2010
Auditor	M/S.	Choi Ji-Hye	Female	Korean	03/30/2007

Financials

The 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)	50,000,000
Total Issued Shares	100,000

Products, Technologies, Services Description

Main Products & Services	Plastic, Plastic Film, Silicon Wafer
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

POLY PLANT PROJECT, INC(USA)

CHANG CHUN PETROCHEMICAL(TAIWAN)

ELSA(SINGAPORE)

EQUISTAR(USA)

Customers

Competitors

SILTRON INCORPORATED

274, IMSU-DONG, GUMI-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-470-6116 FAX:+82-54-470-6618

TOKAI CARBON KOREA CO., LTD.

ANSEONG INDUSTRIAL COMPLEX 2, 271-2, GYEREUK-RI, MIYANG-MYEON, ANSEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-677-0277 FAX:+82-31-677-0276

ONSE INC.

264, SUCHAM-RI, TONGJIN-EUP, GIMPO-SI, GYEONGGI-DO, KOREA

TEL:+82-31-981-4506 FAX:+82-31-981-4507

WOONGJIN ENERGY CO. LTD.

I3-16B, DAEDEOK TECHNO VALLEY, 1316, GWANPYEONG-DONG, YUSEONG-GU, DAEJEON, KOREA

TEL:+82-42-939-8114 FAX:+82-42-939-8098

Sales by Region (Activity & Markets)

The Subject exports to USA, Japan, China and Middle East.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.86
UK Pound	1	Rs.102.67
Euro	1	Rs.81.69

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%)

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