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Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
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Name : |
YOUNG NAM MACHINERY CO. |
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Registered Office : |
94,
Jangnimbeonyeong-ro, Saha-gu, |
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Country : |
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Date of Incorporation : |
04.01.1974 |
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Com. Reg. No.: |
603-24-61724 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Machinery for Food, Beverage and Tobacco Processing. |
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No of Employees : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
Korea (South) |
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 |
KOREA (SOUTH) - 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 |
|
Company
Name |
YOUNG
NAM MACHINERY CO. (Korean Company Name : “영남기계”) |
|
Registered Address |
94,
Jangnimbeonyeong-ro, Saha-gu, Busan, Korea |
|
Zip Code |
604-845 |
|
Tel |
+82-51-261-3170 |
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Fax |
+82-51-261-4415 |
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E-mail |
youngnam@foodmach.co.kr;youngnam@foodmach.co.kr |
|
Trading Address |
94, Jangnimbeonyeong-ro,
Saha-gu, Busan, Korea (Old Address System : 340-1, Jangnim
2-dong, Saha-gu, Busan, Korea) |
|
Tel |
+82-51-261-3170 |
|
Fax |
+82-51-261-4415 |
|
Type |
Export |
|
Industry |
Manufacture of Machinery for Food, Beverage and Tobacco Processing |
|
Main Business |
Fishery Food Processing Machine |
|
Established (mm/dd/yyyy) |
04/01/1974 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Grading machines for seed or grain or dried leguminous
vegetables(21102003) |
|
Sell |
Agricultural machinery for cleaning and sorting and grading(21102000) |
CEO’s
|
Name |
Ye In-Hye |
|
Date of Birth |
05/05/1950 |
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Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
24 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Kookmin Bank-Daejung Dong Branch |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
603-24-61724 |
|
Permit & Licenses |
Int’l Trade no.: 12056976 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
04/01/1974 Established as the present name |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Ye In-Hye |
Male |
Korean |
04/01/1974 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
3,647,000,000 |
2,311,000,000 |
165,000,000 |
|
2008 |
6,199,000,000 |
2,193,000,000 |
288,000,000 |
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 |
Fishery Food Processing Machine |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
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Competitors |
ATS INTERNATIONAL CO., LTD. RM. 707, PHOENIX BLDG., 702-23, YEOKSAM
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2051-2650~4 FAX:+82-2-2051-2655 HANSUNG ENGINEERING CO., LTD. 586, PUNGSEO-RI, PUNGSE-MYEON, DONGNAM-GU, CHEONAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-553-4561 FAX:+82-41-553-6053 HAN JAM MACHINERY CO., LTD. 123-6, HA-RI, YEOJU-EUP, YEOJU-GUN,
GYEONGGI-DO, KOREA TEL:+82-31-883-9559 FAX:+82-31-884-0598 |
Sales by Region (Activity & Markets)
The Subject exports
to the companies in China, America and Russia.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
UK Pound |
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.