MIRA INFORM REPORT

Report Date :

25.08.2014

IDENTIFICATION DETAILS

Name :	JC RESOURCES CO., LTD.

Registered Office :	17, Seonyu-ro 52-gil, Yeongdeungpo-gu, Seoul, Korea

Country :	South Korea

Date of Incorporation :	03.01.2011

Com. Reg. No.:	107-87-46351

Legal Form :	Company Limited By Shares

Line of Business :	Wholesale of Basic Metals.

No of Employees :	03

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

Company Name	JC RESOURCES CO., LTD. (Korean Company Name : “(주)제이씨리소시즈”)
Registered Address	17, Seonyu-ro 52-gil, Yeongdeungpo-gu, Seoul, Korea
Building	Rm.503, Koas Bldg.
Zip Code	150-810
Tel	+82-2-2635-7732
Fax	+82-2-338-7732
E-mail	sam@jcresources.co.kr
Website
Trading Address	Rm.503, Koas Bldg.,17, Seonyu-ro 52-gil, Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm.503, Koas Bldg., 340-2, Dangsan-dong 6-ga, Yeongdeungpo-gu, Seoul, Korea)
Tel	+82-2-2635-7732
Fax	+82-2-338-7732
Other Address
Tel
Fax
Type	Export/Import
Industry	Wholesale of Basic Metals
Main Business	Non-Ferrous Metal Scrap
Sub Business
Established (mm/dd/yyyy)	01/03/2011

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Base Metals(11101700)
Sell	Steel coil(30101904)
Sell	Steel plate(30102204)
Sell	Steel(11101704)

CEO’s

Name	Kim Hyun-Soo
Address	Suite 101-403, 509, Mangwon-dong, Mapo-gu, Seoul, Korea
Date of Birth	12/03/1975
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	50,000,000
Employees	3
Formation	Co., Ltd by Shares
Bank Details	N/A
Corporate Registered No.	110111-4504977
Business Registered No.	107-87-46351
Permit & Licenses	N/A
Shareholder Position	N/A
Company History	05/2010 Established as JC RESOURCES CO.(Sole Proprietorship) 01/03/2011 Incorporated as the present name

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Kim Hyun-Soo	Male	Korean	01/03/2011
Director	Mr.	Kwon Se-Wook	Male	Korean	01/03/2011
Auditor	M/S.	Kim Mi-Kyung	Female	Korean	01/03/2011

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2013
2012
2011	3,500,000,000

Financial Description

Authorized Capital(KRW)	200,000,000
Paid-Up Capital(KRW)	50,000,000
Total Issued Shares	10,000

Products, Technologies, Services Description

Main Products & Services	Non-Ferrous Metal Scrap
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

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 by Region (Activity & Markets)

Not Available.

Court Action

Not Available.

News Clipping

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.77
UK Pound	1	Rs.100.72
Euro	1	Rs.80.55

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TPT

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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