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Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
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Name : |
IK TECH CO., LTD. |
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Formerly Known As : |
Ilkwang
Electronics Industries Co., Ltd. |
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Registered Office : |
18, Cheyukgwan-ro, Bupyeong-gu, Incheon, Rm. 604, |
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Country : |
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Date of Incorporation : |
01.10.1999 |
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Com. Reg. No.: |
122-81-59246 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
|
Company
Name |
IK TECH CO.,
LTD. (English Name : INTERNATIONAL KAISER TECHNOLOGY CO., LTD.) (Korean Company Name : “(주)아이케이테크”) |
|
Registered Address |
18, Cheyukgwan-ro, Bupyeong-gu, Incheon, Korea |
|
Building |
Rm.
604, Daekyeong Plaza |
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Zip Code |
403-866 |
|
Tel |
+82-32-523-0243 |
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Fax |
+82-32-523-0244 |
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Trading
Address |
Rm. 604, Daekyeong Plaza, 18,
Cheyukgwan-ro, Bupyeong-gu, Incheon, Korea (Old Address System : Rm. 604, Daekyeong Plaza, 462-3, Samsan 2-dong,
Bupyeong-gu, Incheon, Korea) |
|
Tel |
+82-32-523-0243 |
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Fax |
+82-32-523-0244 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Other Electronic Valves, Tubes and Electronic Components n.e.c. |
|
Main Business |
Switch,
Resonator, Vibration Motor, Electrolytic Capacitor |
|
Sub
Business |
Manufacture
of Electrical Apparatuses for Switching, Protecting and Connecting Electrical
Circuits Used in Power Distribution Systems |
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Established (mm/dd/yyyy) |
10/01/1999 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Switches and controls and relays and
accessories(39121500) |
|
Sell |
Motors(26101600) |
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Sell |
Mufflers or resonators(25173702) |
|
Name |
Lee Kyung-Soo |
|
Address |
Suite 102-304, 7, Sinsong-ro 6beon-gil,
Yeonsu-gu, Incheon, Korea |
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Date of Birth |
10/12/1954 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
420,000,000 |
|
Employees |
10 |
|
Formation |
Co.,
Ltd by Shares |
|
Bank Details |
Kookmin Bank-Bupyung Corporate Finance
Branch |
|
Corporate Registered No. |
1201110-203365 |
|
Business Registered No. |
122-81-59246 |
|
Permit & Licenses |
Int’l
Trade No.: 14032963 |
|
Shareholder Position |
N/A |
|
Company History |
09/10/1996 Established as Ilkwang
Electronics Industries Co.(Sole Proprietorship) 10/01/1999 Incorporated as Ilkwang
Electronics Industries Co., Ltd. 06/26/2002 Changed company name to the
present name 07/14/2007 Moved to the present HQ address
from 59-8, Galsan-dong, Bupyeong-gu, Incheon, Korea 12/16/2009 Increased capital to 420,000,000
KRW from 200,000,000 KRW |
|
|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative Director |
Mr. |
Lee Kyung-Soo |
Male |
Korean |
07/22/2013 |
|
Auditor |
M/S. |
Oh Eun-Sook |
Female |
Korean |
07/11/2007 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2009 |
2,660,000,000 |
1,690,000,000 |
93,000,000 |
|
2008 |
2,019,000,000 |
1,273,000,000 |
59,000,000 |
The latest &
full financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
800,000,000 |
|
Paid-Up Capital(KRW) |
420,000,000 |
|
Total Issued Shares |
42,000 |
|
Main Products & Services |
Switch,
Resonator, Vibration Motor, Electrolytic Capacitor |
|
Competitors |
SERI2B CO. RM. 306,
GUMI TECHNO BUSINESS SUPPORT CENTER ANNEX Ⅱ, 267, GONGDAN 2-DONG, GUMI-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-465-1530 FAX:+82-54-465-1532 UPERT, INC. 59,
SINBANG-RI, JEONUI-MYEON, YEONGI-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-863-6812 FAX:+82-41-863-6814 GLOBAL
TECHNOLOGY CO., LTD. 3RD FL.,
UCHANG BLDG., 912-1, GUUN-DONG, GWONSEON-GU, SUWON-SI, GYEONGGI-DO, KOREA TEL:+82-31-292-2560 FAX:+82-31-292-2507 |
(Activity & Markets)
The Subject deals with
the companies in China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.101.25 |
|
Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.