MIRA INFORM REPORT

Report Date :

09.08.2014

IDENTIFICATION DETAILS

Name :	SUN TRADING CO.

Registered Office :	Rm. 7-28, Industrial Material Center, Yutong Danji, 16, Yutongdanji-ro, Buk-gu, Daegu

Country :	South Korea

Date of Incorporation :	15.04.1999

Com. Reg. No.:	504-04-51163

Legal Form :	Sole Proprietorship

Line of Business :	Wholesales of Other Industrial Machinery and Equipment

No of Employees :	1

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 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Korea

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. 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	SUN TRADING CO. (Korean Company Name : “태양무역”)
Registered Address	16, Yutongdanji-ro, Buk-gu, Daegu, Korea
Building	Rm. 7-28, Industrial Material Center, Yutong Danji
Zip Code	702-010
Tel	+82-53-604-0213~4
Fax	+82-53-604-0224
E-mail
Website
Trading Address	Rm. 7-28, Industrial Material Center, Yutong Danji, 16, Yutongdanji-ro, Buk-gu, Daegu, Korea (Old Address System : Rm. 7-28, Industrial Material Center, Yutong Danji, 1629, Sangyeok-dong, Buk-gu, Daegu, Korea)
Tel	+82-53-604-0213~4
Fax	+82-53-604-0224
Other Address
Tel
Fax
Type	Export
Industry	Wholesales of Other Industrial Machinery and Equipment
Main Business	Textile Machine, Spare Parts
Sub Business
Established (mm/dd/yyyy)	04/15/1999

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Textile working machinery and equipment and accessories(23121600)
Sell	Machinery for Apparel and Leather Production

CEO’s

Name	Kim Hong-Bin
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	Daegu Bank-Sankyuk Branch Industrial Bank of Korea-Daegu Yutong Branch
Corporate Registered No.	Not Applicable to the Sole Proprietorship
Business Registered No.	504-04-51163
Permit & Licenses	Int’l Trade No.: 13062473
Shareholder Position	The owner has 100% shares.
Company History	04/15/1999 Established as the present name

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Owner	Mr.	Kim Hong-Bin	Male	Korean	04/15/1999

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	Textile Machine, Spare Parts
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

Customers

Competitors

KORIN MACHINERY CO., LTD.

929-9, WORAM-DONG, DALSEO-GU, DAEGU, KOREA

TEL:+82-53-587-9231~3 FAX:+82-53-587-9230

OKWON INDUSTRY CO., LTD.

100-58, GALSAN-DONG, DALSEO-GU, DAEGU, KOREA

TEL:+82-53-583-1722 FAX:+82-53-582-1724

SUNG CHANG TEXTILE MACHINE CO., LTD.

189, CHANGHYEON-RI, HWADO-EUP, NAMYANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-594-3382 FAX:+82-31-594-3389

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.55
UK Pound	1	Rs. 103.50
Euro	1	Rs. 82.41

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	DPT

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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