MIRA INFORM REPORT

Report Date :

31.08.2014

IDENTIFICATION DETAILS

Name :	SUNJIN SMART AUTOMATION CO., LTD

Registered Office :	6, Hasinjungang-ro 27beon-gil, Saha-gu, Busan, Korea 604-842

Country :	South Korea

Date of Incorporation :	27.12.2006

Com. Reg. No.:	606-86-01005

Legal Form :	Co., Ltd by Shares

Line of Business :	Manufacture of Other Special Purpose Machinery, n.e.c.

No. of Employees	16

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

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	SSA CO., LTD. (English Name : SUNJIN SMART AUTOMATION CO., LTD.)
Registered Address	6, Hasinjungang-ro 27beon-gil, Saha-gu, Busan, Korea
Zip Code	604-842
Tel	+82-51-325-2900
Fax	+82-51-971-2186
E-mail	sfa@sjfa.kr
Website	www.sjfa.kr
Trading Address	1109, Jangnim 1-dong, Saha-gu, Busan, Korea (Old Address System : 6, Hasinjungang-ro 27beon-gil, Saha-gu, Busan, Korea)
Tel	+82-51-325-2900
Fax	+82-51-971-2186
Type	Export
Industry	Manufacture of Other Special Purpose Machinery, n.e.c.
Main Business	F.A System, Hydraulic Cylinder Assembly Machine, Rod Buffing Machine, Ultra Transformer Winding Machine
Established (mm/dd/yyyy)	12/27/2006

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Cleaning equipment(47121800)
Sell	Assembly machines(23153400)
Sell	Conveyors and accessories(24101700)
Sell	Vehicle servicing equipment(25191700)
Sell	Electrical hardware and supplies(39121700)

CEO’s

Name	Kim Young-Choon
Address	Suite 203-404, 40, 40, Eomgung-ro, Sasang-gu, Busan, Korea
Date of Birth	03/05/1959
Title	Representative Director
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	300,000,000
Employees	16
Formation	Co., Ltd by Shares
Bank Details	Kookmin Bank-Busan Branch
Corporate Registered No.	180111-0577792
Business Registered No.	606-86-01005
Permit & Licenses	12/2006 ISO 9001 02/2007 ISO 14001 Int’l Trade No.: 30644780
Shareholder Position	N/A
Company History	12/27/2006 Incorporated as SFA CO., LTD. 10/19/2007 Moved to the present HQ address from 530-23, Daejeo 2-dong, Gangseo-gu, Busan, Korea 08/01/2008 Designated as a Venture Business 01/25/2011 Designated as a Venture Business again 10/22/2012 Changed company name to the present name

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Representative Director	Mr.	Kim Young-Choon	Male	Korean	03/22/2012
Auditor	M/S.	Cho Young-Ja	Female	Korean	03/31/2009

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2013
2012
2011
2010
2009	9,884,000,000
2008	6,978,000,000

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)	1,500,000,000
Paid-Up Capital(KRW)	300,000,000
Total Issued Shares	60,000

Products, Technologies, Services Description

Main Products & Services	F.A System, Hydraulic Cylinder Assembly Machine, Rod Buffing Machine, Ultra Transformer Winding Machine
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

Customers

Competitors

TOKIMEC KOREA CO., LTD.

RM. 803, URI VENTURE TOWN 2-CHA, 82-29, MULLAE-DONG 3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-2670-4611~6 FAX:+82-2-2672-5712~3

TANHAY CORPORATION

111-84, UJANGSAN-DONG, GANGSEO-GU, SEOUL, KOREA

TEL:+82-2-2691-8888 FAX:+82-2-2699-2225

HIM TECHNOLOGIES CORP.

RM. 605, DOWNTOWN BLDG., 1141-5, JUNG 1-DONG, WONMI-GU, BUCHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-32-326-2705 FAX:+82-32-326-8321

Sales by Region (Activity & Markets)

Sales/ Unit :Mil KRW	2013	2012	2011
Export
Domestic
Total

The Subject exports to China.

News Clipping

Not Available.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.48
UK Pound	1	Rs.100.35
Euro	1	Rs.79.86

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SDA

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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