|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAE SUNG CO. |
|
|
|
|
Registered Office : |
22, Dodong-ro 88beon-gil, Jinju-si, Gyeongsangnam-do,
Korea |
|
|
|
|
Country : |
South Korea |
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|
|
|
Date of Incorporation : |
01.07.1985 |
|
|
|
|
Com. Reg. No.: |
613-16-97919 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of machinery for textiles, apparel and leather
production |
|
|
|
|
No. of Employees |
14 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 – 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. 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 |
DAE SUNG CO. (Korean Company Name : “대성공업사”) |
|
Registered Address |
22, Dodong-ro 88beon-gil, Jinju-si, Gyeongsangnam-do, Korea |
|
Building |
|
|
Zip Code |
660-902 |
|
Tel |
+82-55-752-1484 +82-55-755-1751 |
|
Fax |
+82-55- 752-3571 |
|
|
kh0902@kotis.net |
|
Website |
|
|
Trading Address |
22, Dodong-ro 88beon-gil, Jinju-si, Gyeongsangnam-do, Korea (Old Address System : 55-23, Sangpyeong-dong, Jinju-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-752-1484 |
|
Fax |
+82-55- 752-3571 |
|
Other Address-Branch Office |
188-8, Nowon-dong 2-ga, Buk-gu, Daegu, Korea |
|
Tel |
+82-53-358-0008 |
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Other Machinery for Textiles, Apparel and Leather Production n.e.c. |
|
Main Business |
Machinery and Parts for Textiles, Bobbin |
|
Sub Business |
|
|
Established (mm/dd/yyyy) |
07/01/1985 |
Mr. Kim Kyung
Ho/Owner has owned the premises of registered HQ address/Factory, and the
branch office.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Textile working machinery and equipment and accessories(23121600) |
|
Sell |
Machinery for Apparel and Leather Production |
CEO’s
|
Name |
Kim Kyung-Ho |
|
Address |
|
|
Date of Birth |
|
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable
to the Sole Proprietorship |
|
Employees |
14 |
|
Formation |
Sole
Proprietorship |
|
Bank Details |
Kyungnam
Bank-Seo Branch Nonghyup
Bank-Jinju Central Branch |
|
Corporate
Registered No. |
Not Applicable
to the Sole Proprietorship |
|
Business
Registered No. |
613-16-97919 |
|
Permit &
Licenses |
Int’l Trade
No.: 372611 |
|
Shareholder
Position |
The owner has
100% shares. |
|
Company
History |
07/01/1985 Established as the present name |
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Kim Kyung-Ho |
Male |
Korean |
07/01/1985 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
2,922,000,000 |
3,787,000,000 |
199,000,000 |
|
2007 |
1,566,400,000 |
|
|
|
2006 |
|
|
|
|
2005 |
3,651,000,000 |
2,470,000,000 |
298,000,000 |
|
2004 |
3,403,000,000 |
1,882,000,000 |
244,000,000 |
|
2003 |
2,100,000,000 |
|
|
The latest &
full financial is not available, and the subject does not have any obligation
to releases its financials to the public.
Financial Description
|
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 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Machinery for Textiles, Apparel and Leather Production |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
KORIN
MACHINERY CO., LTD. 929-9,
WORAM-DONG, DALSEO-GU, DAEGU, KOREA TEL:+82-53-587-9231~3 FAX:+82-53-587-9230 OKWON INDUSTRY
CO., LTD. 100-58,
GALSAN-DONG, DALSEO-GU, DAEGU, KOREA TEL:+82-53-583-1722 FAX:+82-53-582-1724 SUNG CHANG
TEXTILE MACHINE CO., LTD. 189,
CHANGHYEON-RI, HWADO-EUP, NAMYANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-594-3382 FAX:+82-31-594-3389 |
Sales by Region
(Activity & Markets)
The Subject exports to Indonesia, Japan, China and Pakistan.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.