MIRA INFORM REPORT

 

 

Report Date :

18.08.2014

 

IDENTIFICATION DETAILS

 

Name :

BEECOM INC CORPORATION

 

 

Registered Office :

10, Bamgogae-ro 1-gil, Gangnam-gu, Seoul, Korea Rm. 1928, Suseo Hyundai Venture Ville

 

 

Country :

South Korea

 

 

Date of Incorporation :

18.10.2000

 

 

Com. Reg. No.:

105-86-18115

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Industrial Basic Chemicals

 

 

No. of Employees

04

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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

BEECOM INC CORPORATION

(Korean Company Name : “(주)비컴아이엔씨”)

Registered Address

10, Bamgogae-ro 1-gil, Gangnam-gu, Seoul, Korea

Building

Rm. 1928, Suseo Hyundai Venture Ville

Zip Code

135-539

Tel

+82-2-6271-0405

Fax

+82-2-6271-0408

E-mail

jspark@beecominc.com

Website

www.beecom.co.kr

Trading Address

Rm. 1928, Suseo Hyundai Venture Ville, 10, Bamgogae-ro 1-gil, Gangnam-gu, Seoul, Korea

(Old Address System : Rm. 1928, Suseo Hyundai Venture Ville, 713, Suseo-dong, Gangnam-gu, Seoul, Korea)

Tel

+82-2-6271-0411

Fax

+82-2-6271-0408

Other Address

 

Tel

 

Fax

 

Type

Export/Import

Industry

Wholesale of Industrial Basic Chemicals

  Main Business

Methyl Chloride, Hydrogen Peroxide, Potassium Hydroxide

  Sub Business

 

Established (mm/dd/yyyy)

10/18/2000

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Methane(15111502)

Sell

Methyl Chloride

Sell

Hydrogen Peroxide

Sell

Potassium Hydroxide

 

CEO’s

 

Name

Park Jong-Su

Address

Suite 314-2202, 55, Naejeong-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

02/25/1968

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

90,000,000

Employees

4

Formation

Co., Ltd by shares

Bank Details

Hana Bank-Hongik University Branch

Corporate Registered No.

110111-2092990

Business Registered No.

105-86-18115

Permit & Licenses

Int’l Trade No.: 30225277

Shareholder Position

N/A

Company History

10/18/2000 Incorporated as the present name

12/02/2003 Moved to the present address from Rm. 1213, Suseo Hyundai Venture Ville, 713, Suseo-dong, Gangnam-gu, Seoul, Korea

03/2004 Set up Guangzhou Beecom Corp., in China

10/2006 Awarded US$20 Million Export Top Prize

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Park Jong-Su

Male

Korean

10/18/2000

Director

Mr.

Min Sung-Joon

Male

Korean

10/18/2000

Auditor

Mr.

Jung Myeon

Male

Korean

04/26/2006

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

 

 

 

2010

54,862,000,000

6,145,000,000

1,016,000,000

2009

48,397,000,000

6,034,000,000

650,000,000

2008

42,877,000,000

4,180,000,000

393,000,000

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)

360,000,000

Paid-Up Capital(KRW)

90,000,000

Total Issued Shares

18,000

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Industrial Chemicals

-Detergent: MEA, DEA, NPE

-Mining Chemicals: Sodium Cyanide, Hydrogen Peroxide, Gelatin

 

Fine Chemicals

-LCD: Photo Resist, Etchant, Cell Cleaner

-Semiconductor: High Purified materials

-Secondary Cell: Separator, Cathode Material, Anode Material

 

Special Chemicals

-Electroplating: Copper Cyanide, Zinc Cyanide, Brass Salt

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

DEERFOS CO., LTD.

290, GAJWA 4-DONG, SEO-GU, INCHEON, KOREA

TEL:+82-32-580-4100  FAX:+82-32-580-4199

 

PACO CORPORATION

345-1, WOLSONG-RI, YEOJU-EUP, YEOJU-GUN, GYEONGGI-DO, KOREA

TEL:+82-31-885-6573  FAX:+82-31-885-6574

 

VALEO PYEONG HWA INTERNATIONAL LTD.

RM. 902, HANARO BLDG., 194-4, INSA-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-734-3730  FAX:+82-2-736-7487

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

 

Overseas Office

GUANGZHOU BEECOM CORP.(CHINA)

Liaison Office

 

Overseas Branch

 

Joint Venture

 

Subsidiary

 

Corporate Ownership

 

Major Shareholders

 

Cooperative Enterprise

 

 

 

Sales by Region (Activity & Markets)

 

The Subject deals with the companies in China, India, Malaysia, Thailand, France, Netherlands, Turkey, South Africa and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.06

UK Pound

1

Rs.101.84

Euro

1

Rs.81.56

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.