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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TAEGANG IND. CO., LTD. |
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Registered Office : |
837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 135-768 |
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Country : |
South Korea |
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Date of Incorporation : |
09.08.1982 |
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Com. Reg. No.: |
220-81-21078 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
· Wholesale of Dyes, Pigments and Related Products ·
Wholesale of Other Chemical Materials and
Chemical Products |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
Basic
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Company Name |
TAEGANG IND. CO., LTD. (Korean Company Name : “(주)태강실업”) |
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Registered
Address |
837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
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Building |
Rm. 701, Samil Plaza Officetel |
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Zip Code |
135-768 |
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Tel |
+82-2-556-8882 |
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Fax |
+82-2-552-8343 |
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E-mail |
taeggkor@kornet.net |
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Website |
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Trading Address |
Rm. 701, Samil Plaza Officetel, 837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea (New Address System : 14, Dogok-ro 1-gil, Gangnam-gu, Seoul, Korea) |
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Tel |
+82-2-556-8882 |
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Fax |
+82-2-552-8343 |
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Other Address |
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Tel |
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Fax |
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Type |
Export |
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Industry |
Wholesale of Dyes, Pigments and Related Products |
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Main Business |
Titanium Dioxide, Ferrous Sulphate, Pentaerythritol,
Sodium Formate |
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Sub Business |
Wholesale of Other Chemical Materials and Chemical
Products |
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Established
(mm/dd/yyyy) |
08/09/1982 |
Mr. Kim
Jung-Suk, Representative Director, owns the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Titanium dioxide(12171604) |
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Sell |
Ferrous sulfate(51131503) |
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Sell |
Inorganic metal salts(12352302) |
CEO’s
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Name |
Kim Jung-Suk |
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Address |
Suite 507-501,
214, Sinbong 1-ro, Suji-gu, Yongin-si, Gyeonggi-do, Korea |
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Date of Birth |
01/25/1946 |
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Title |
Representative
Director |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
50,000,000 |
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Employees |
2 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial
Bank of Korea-Samseong Dong Branch |
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Corporate
Registered No. |
110111-0324741 |
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Business
Registered No. |
220-81-21078 |
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Permit &
Licenses |
Int’l Trade
No.: 950167 |
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Shareholder
Position |
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Company
History |
08/09/1982 Incorporated as the present name 09/27/1993 Moved to the present HQ address |
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Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative
Director |
Mr. |
Kim Jung-Suk |
Male |
Korean |
12/02/1998 |
|
Auditor |
Mr. |
Kim Hyung-Kyu |
Male |
Korean |
03/27/2013 |
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Year / Unit :
KRW |
Sales |
Assets |
Net Income |
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2012 |
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2011 |
4,088,000,000 |
562,000,000 |
-20,000,000 |
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2010 |
4,650,000,000 |
325,000,000 |
36,000,000 |
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2009 |
3,449,000,000 |
252,000,000 |
64,000,000 |
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2008 |
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2007 |
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2006 |
|
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2005 |
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2004 |
3,082,000,000 |
375,000,000 |
95,000,000 |
|
2003 |
3,535,000,000 |
220,000,000 |
101,000,000 |
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) |
60,000,000 |
|
Paid-Up
Capital(KRW) |
50,000,000 |
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Total Issues
Shares |
10,000 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Titanium Dioxide KA-100 Anatase (normal grade) Titanium Dioxide KA-300 Textile fiber grade Penta erythritol 95% or 98% Nitro Cellulose Spin finish oil Gas cylinder for chair and all types of gas spindle Health clean bidet (electric or mechemical type) Golf bag builted in carter PVC flooring All kind of special paints |
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Detailed
Products Spec. |
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Technologies
Acquired |
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Trade Partners & Competitors
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Suppliers |
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Customers |
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Competitors |
COSMO CHEMICAL
CO., LTD. 1534-5, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-32-451-6100 FAX:+82-32-451-6119 WE
INTERNATIONAL CO., LTD. RM. 1402, BYEOKSAN
GWANGHWAMUN SIDAE OFFICETEL, 74, NAESU-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-2195-4281~3 FAX:+82-2-2185-4280 NANO CO., LTD. 1108-1, BONGGOK-RI, SABONG-MYEON, JINJU-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-762-8887 FAX:+82-55-755-6755 |
Sales by Region
(Activity & Markets)
The Subject
exports to Bangladesh, Sri Lanka, China, India, Malaysia, Pakistan and
Thailand.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
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Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.