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Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SUN KOREA
CORPORATION |
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|
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Registered Office : |
54, Seongnam-daero 779beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do,
Korea, Rm.212, Dongsan Shoppong Mall, Zip Code 463-806 |
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Country : |
South Korea |
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Date of Incorporation : |
13.02.2002 |
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Com. Reg. No.: |
129-25-55570 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler of Other Construction Materials such as Jute Tape, Jute
Rope, Coir Tape, Coir Rope & Coir Net |
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|
|
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No of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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.
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 |
|
Concern
Name |
SUN KOREA CORPORATION (Korean Concern Name : “썬코리아”) |
|
Registered Address |
54, Seongnam-daero 779beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do,
Korea |
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Building |
Rm.212,
Dongsan Shoppong Mall |
|
Zip Code |
463-806 |
|
Tel |
+82-31-701-9377 |
|
Fax |
+82-31-701-9375 |
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Trading
Address |
Rm.212, Dongsan Shoppong Mall, 54, Seongnam-daero
779beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (Old Address System : Rm.212, Dongsan Shoppong Mall, 137-3, Imae-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-701-9377 |
|
Fax |
+82-31-701-9375 |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Other Construction Materials n.e.c. |
|
Main Business |
Jute
Tape, Jute Rope, Coir Tape, Coir Rope & Coir Net |
|
Established (mm/dd/yyyy) |
02/13/2002 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Landscaping services(72102902) -Material
for protection a tree |
|
Sell |
Fabrics
and leather materials(11160000) |
|
Sell |
Tents(49121503) |
|
Sell |
Nylon
rope(31151504) |
|
Sell |
Polypropylene
rope(31151503) |
|
Sell |
Ropes(31151500) |
|
Name |
Park
Hyung-Su |
|
Address |
101-406,
Samick Apt., 152-3, Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do,
Korea |
|
Date of Birth |
10/20/1970 |
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Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Korea
Exchange Bank-Seongsu Station Branch |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
129-25-55570 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Concern History |
02/13/2002
Established as the present name |
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Park Hyung-Su |
Male |
Korean |
02/13/2002 |
|
Main Products & Services |
Jute
Tape, Jute Rope, Coir Tape, Coir Rope & Coir Net |
|
Competitors |
SOO TRADING CO. 1ST FL., GAB-BU BLDG., 1472-9, SAMSAN-DONG,
NAM-GU, ULSAN, KOREAN TEL:+82-52-256-1780 FAX:+82-52-256-1781 DAEHWA SEED COMPANY RM. 809, JUNG-ANG OFFICETEL, 527-9, GOJAN 2-DONG,
DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREAN TEL:+82-31-482-5856 FAX:+82-31-482-5826 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DAMO TRADING CO. INHU-DONG 1-GA ,DEOKJIN-GU ,JEONJU-SI, JEONBUK, KOREA TEL: +82-63-242-6206 FAX:
+82-2-63-242-8764 |
(Activity & Markets)
The Subject deals with the companies in Bangladeshi, Sri Lanka, India
and Vietnam.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.