MIRA INFORM REPORT

 

 

Report Date :

29.07.2014

 

IDENTIFICATION DETAILS

 

Name :

PARTECK CORP.

 

 

Registered Office :

12, World Cup buk-ro 5ga-gil, Mapo-gu, Seoul, Korea

 

 

Country :

South Korea

 

 

Date of Incorporation :

24.12.2009

 

 

Com. Reg. No.:

105-87-39325

 

 

Legal Form :

Company Listed By Shares

 

 

Line of Business :

Wholesale of Other Chemical Materials and Chemical Products.

 

 

No. of Employees :

11

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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

 

Company Name

PARTECK CORP.

(Korean Company Name : “(주)파텍상사”)

Registered Address

12, World Cup buk-ro 5ga-gil, Mapo-gu, Seoul, Korea

Building

4th Fl., Seogyo Bldg.

Zip Code

121-841

Tel

+82-2-324-8526

Fax

+82-2-324-8528

E-mail

kim-mr1305@hanmail.net

Website

parteck.cafe24.com

Trading Address

4th Fl., Seogyo Bldg., 12, World Cup buk-ro 5ga-gil, Mapo-gu, Seoul, Korea

(Old Address System : 4th Fl., Seogyo Bldg., 448-24, Seogyo-dong, Mapo-gu, Seoul, Korea)

Tel

+82-2-324-8526

Fax

+82-2-324-8528

Other Address

405, Sanggeum-gil, Bongsan-myeon, Gimcheon-si, Gyeongsangbuk-do, Korea

Tel

 

Fax

 

Type

Export

Industry

Wholesale of Other Chemical Materials and Chemical Products

  Main Business

Adsorbents

  Sub Business

 

Established (mm/dd/yyyy)

12/24/2009

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Chemicals including Bio Chemicals and Gas Materials(12000000)

 

 

CEO’s

 

Name

Kim Young-Soon

Address

Suite 1007-103, 67, Jungang-dong, Gwacheon-si, Gyeonggi-do, Korea

Date of Birth

08/02/1956

Title

President & CEO

Sex

Female

Nationality

Korean

 

Profiles

 

Capital (KRW)

128,040,000

Employees

11

Formation

Co., Ltd by Shares

Bank Details

Shinhan Bank-Seogyo Branch

Corporate Registered No.

110111-4248575

Business Registered No.

105-87-39325

Permit & Licenses

Int’l Trade No.: 11865609

Shareholder Position

N/A

Company History

03/03/1997 Established as PARTECK CORP.(Sole Proprietorship)

12/24/2009 Incorporated as the present name

03/19/2013 Increased capital to 128,040,000 KRW from 100,000,000 KRW

03/29/2013 Acquired PARTECK C&T CO., LTD.(110111-3484881)

 

 

 

 

Detailed Information

 

MANAGEMENT

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

M/S.

Kim Young-Soon

Female

Korean

12/24/2012

Director

M/S.

Park Ju-Hee

Female

Korean

12/24/2012

Auditor

Mr.

Hwang Sun-Ki

Male

Korean

05/16/2012

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

14,7910,080,000

 

830,570,000

2010

10,543,920,000

5,332,000,000

697,670,000

2009

9,215,990,000

2,729,000,000

783,800,000

2008

 

 

 

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)

400,000,000

Paid-Up Capital(KRW)

128,040,000

Total Issued Shares

12,804

Products, Technologies, Services Description

 

Main Products & Services

Adsorbents

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

WOOJIN CHEMICAL CO., LTD.(KOREA)

HANSEO CHEM CO., LTD.(KOREA)

SEUNGIL CO., LTD.(KOREA)

GS CHEM CO., LTD.(KOREA)

Competitors

JUNYOUNG CORPORATION

6TH FL., GREEN POINT BLDG., 655-12, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-547-8595  FAX:+82-2-547-8598

 

COGNIS KOREA LTD.

5TH FL., GANGNAM METRO BLDG., 1339-9, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-3489-7600  FAX:+82-2-584-7603

 

NAMDUCK MOOLSAN CO., LTD.

RM. 1014, YEOUIDO DEPT. STORE, 36-2, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3774-0900  FAX:+82-2-3774-0901

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Taiwan, Indonesia and China.

 

 

Court Action

 

Not Available.

 

 

News Clipping

-----

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.10

UK Pound

1

Rs.102.04

Euro

1

Rs.80.74

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

TPT

 

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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