MIRA INFORM REPORT

 

 

Report Date :

14.07.2014

 

IDENTIFICATION DETAILS

 

Correct Name :

MEDITIP CO., LTD.

 

 

Registered Office :

621, Gaepo-ro, Gangnam-gu, Seoul, Rm. 401, SH Corporation Bldg., Zip code 135-988

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

28.12.2006

 

 

Com. Reg. No.:

120-87-13630

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

·         Engaged in providing total Medical Consulting services & Market Research

Engaged as Activities of Management Consultancy

 

 

No of Employees :

14

 

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

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

South Korea

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

 

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 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, and heavy reliance on exports - which comprise about half of GDP.

Source : CIA

 


Basic

 

Correct Company Name

MEDITIP CO., LTD.

(Korean Company Name : “()메디팁”)

Registered Address

621, Gaepo-ro, Gangnam-gu, Seoul, Korea

Building

Rm. 401, SH Corporation Bldg.

Zip Code

135-988

Tel

+82-2-2088-3170

Fax

+82-2-2088-3166

E-mail

mslim@meditip.co.kr

Website

www.meditip.co.kr

Trading Address

Rm. 401, SH Corporation Bldg., 621, Gaepo-ro, Gangnam-gu, Seoul, Korea

(Old Address System : Rm. 401, SH Corporation Bldg., 14-5, Gaepo-dong, Gangnam-gu, Seoul, Korea)

Tel

+82-2-2088-3170

Fax

+82-2-2088-3166

Type

Services

  Main Business

·         Engaged in providing total Medical Consulting services & Market Research

Engaged as Activities of Management Consultancy

Established (mm/dd/yyyy)

12/28/2006

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Market Research Services

 

 

CEO’s

 

Name

Yoo Jeoung-Hee

Address

Suite 203-303, 15, Gwangpyeong-ro 10-gil, Gangnam-gu, Seoul, Korea

Date of Birth

07/07/1970

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

120,000,000

Employees

14

Formation

Co., Ltd by Shares

Bank Details

N/A

Corporate Registered No.

134111-0149026

Business Registered No.

120-87-13630

Permit & Licenses

N/A

Shareholder Position

Name

Shares

%

YOO JEOUNG-HEE

55,002

91.67

KIM JI-YEON

2,502

4.17

KIM KYUNG-SOON

2,496

4.16

TOTAL

60,000

100.00

 

 

Company History

12/28/2006 Incorporated as the present name

09/04/2009 Designated as a Venture Business

08/30/2011 Designated as a Venture Business again

05/17/2013 Moved to the present HQ address from 644, Gaepo-ro, Gangnam-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Yoo Jeoung-Hee

Male

Korean

12/28/2006

Director

Mr.

Park Yang-Soo

Male

Korean

06/18/2012

Auditor

M/S.

Kim Ji-Yeon

Female

Korean

12/28/2006

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

1,008,000,000

492,000,000

150,000,000

2011

990,294,000

843,947,000

147,030,000

2010

1,814,018,000

1,487,345,000

542,618,000

 

The latest 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)

1,000,000,000

Paid-Up Capital(KRW)

120,000,000

Total Issued Shares

60,000

 


 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Total Assets

492,000,000

843,947,000

1,487,345,000

Current Assets

335,000,000

623,113,000

1,190,141,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

157,000,000

220,834,000

297,204,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

77,000,000

213,500,000

314,280,000

Current Liabilities

60,000,000

206,600,000

203,880,000

Fixed Liabilities

17,000,000

6,900,000

110,400,000

Capital Stock

50,000,000

120,000,000

120,000,000

Capital Surplus

-

-

-

Profit Surplus

365,000,000

511,949,000

1,054,066,000

Capital Adjustment

-

-1,502,000

-1,001,000

Total Equity

415,000,000

630,447,000

1,173,065,000

Liab. & Shareholder’s Equity

492,000,000

843,947,000

1,487,345,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Sales

1,008,000,000

990,294,000

1,814,018,000

Cost of Sold Goods

-

-

-

Gross Profit

1,008,000,000

990,294,000

1,814,018,000

Selling & Admin. Expenses

915,000,000

1,007,800,000

1,360,486,000

Operating Income

93,000,000

-17,506,000

453,532,000

Non-Operating Income

89,000,000

192,049,000

201,980,000

Non-Operating Expenses

12,000,000

8,376,000

16,142,000

Income Before Taxes

170,000,000

166,167,000

639,370,000

Income Taxes Expenses

20,000,000

19,137,000

96,752,000

Net Income

150,000,000

147,030,000

542,618,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

total Medical Consulting services & Market Research

 


Trade Partners & Competitors

 

Competitors

MARKET ENTRY SERVICES CO., LTD.

5-503, MISUNG B/D., 186-1, HONGEUN 3(SAM)-DONG, SEODAEMUN-GU, SEOUL, KOREA

TEL:+82-2-391-7403  FAX:+82-2-391-7404

 

CMIC KOREA CO., LTD.

5~6FL., MSA BLDG., 12, TEHERAN-RO 78-GIL, GANGNAM-GU, SEOUL, KOREA

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Cooperative Enterprise

CLINIVATION(USA)

DR. J CONSULTING(CHINA)

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in China and USA.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.103.15

Euro

1

Rs.81.87

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.