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Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
BOO GYEONG CORP. |
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|
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Registered Office : |
421-13, Yongsan 2-dong, Dalseo-gu, Daegu, Korea, Zip Code 704-933 |
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Country : |
South Korea |
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Year of Establishments: |
2009 |
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|
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as Trading Company, Agent Services Subject products ranges includes Carbon Infra-red Heater, Carbon
Fabric Heater, Heated Car Seat Cover, Car Heated
Seat Cover, Papers for Recycle, Over Issued Newspaper, Construction Material, Interior Material, Kitchen & Flooring |
|
|
|
|
No. of Employees |
01 |
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 |
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|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. 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. 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-South Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The incoming administration in 2013, following
the December 2012 presidential election, is likely to face the challenges 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, and heavy reliance on
exports - which comprise half of GDP.
|
Source : CIA |
|
Concern Name |
BOO GYEONG CORP. (Korean Concern Name : “부경”) |
|
Registered Address |
421-13, Yongsan 2-dong, Dalseo-gu, Daegu,
Korea |
|
Zip Code |
704-933 |
|
Tel |
+82-70-8877-9957 |
|
Fax |
N/A |
|
Trading
Address |
Rm.208, Chokwang APT., 2275-12, Dalgubeol-daero,
Suseong-gu, Daegu, Korea (Old Address System : 1229-1, Suseong-dong 4-ga, Suseong-gu, Daegu,
Korea) |
|
Tel |
+82-70-7527-7523~4 |
|
Fax |
N/A |
|
Other
Address |
Rm.302, 29, Gukchaebosang-ro 171-gil,
Dong-gu, Daegu, Korea (Old Address System : Rm.302, 768-21, Sincheon 3-dong, Dong-gu, Daegu,
Korea) |
|
Type |
Export/Import |
|
Industry |
Trading Company, Agent Services |
|
Main Business |
Carbon
Infra-red Heater, Carbon Fabric Heater, Heated Car Seat Cover, Car Heated Seat Cover, Papers for Recycle, Over Issued Newspaper, Construction Material, Interior Material, Kitchen &
Flooring |
|
Established (mm/dd/yyyy) |
2009 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Carbon
Infra-red Heater |
|
Sell |
Carbon
Fabric Heater |
|
Sell |
Construction Material |
|
Sell |
Interior Material |
|
Name |
Son
Jin-Hyun(Mobile : +82-10-3013-1569) |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole
Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
N/A. (The numbers are kept by the National
Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Concern History |
It is not clear of the established date,
but it is known that it has been established at the end of 2008 or the
beginning of 2009. |
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Son
Jin-Hyun |
Male |
Korean |
2009 |
The financials are
not available, and the Subject Concern does not have any obligations to release
its financials to the public.
|
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 |
|
Main Products & Services |
Carbon
Infra-red Heater, Carbon Fabric Heater, Heated Car Seat Cover, Car Heated Seat Cover, Papers for Recycle, Over Issued Newspaper, Construction Material, Interior Material, Kitchen &
Flooring |
(Activity &
Markets)
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
UK Pound |
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.