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Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SEOK-AM TECH CO., LTD. |
|
|
|
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Registered Office : |
552-1, Dogok 1-dong, Gangnam-gu, Seoul, Korea, 3rd Fl., Jinyang Bldg. 135-858 |
|
|
|
|
Country : |
South Korea |
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|
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Date of Incorporation : |
29.06.2009 |
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|
|
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Com. Reg. No.: |
220-87-83872 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
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Line of Business : |
Wholesale of Other Machinery and Equipment |
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|
|
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No. of Employees : |
35 |
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 |
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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 |
|
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 |
SEOK-AM TECH
CO., LTD. (Trade Name : SATCO) (Korean Company
Name : “(주)석암테크”) |
|
Registered Address |
552-1, Dogok 1-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
3rd Fl., Jinyang Bldg. |
|
Zip Code |
135-858 |
|
Tel |
+82-2-3288-8222 +82-2-2051-0397 |
|
Fax |
+82-2-3288-8223 |
|
E-mail |
satco@lycos.co.kr;satco@satcokorea.com |
|
Website |
www.satcokorea.com |
|
Trading Address |
3rd Fl., Jinyang Bldg., 552-1, Dogok
1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3288-8222 +82-2-2051-0397 |
|
Fax |
+82-2-3288-8223 |
|
Other Address-Gimhae Factory |
786-1, Toerae-ri, Hallim-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-342-8220 ~1 |
|
Fax |
+82-55-342-8226 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Machinery and Equipment n.e.c. |
|
Main Business |
Heat Exchanger Equipment, Chemical, Subsistence Commodities, Forging |
|
Sub
Business |
Wholesale of Other Chemical Materials and Chemical Products |
|
Established (mm/dd/yyyy) |
06/29/2009 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Heating equipment and parts and
accessories(40101800) |
CEO’s
|
Name |
Park Kuk-Won |
|
Address |
Suite 103-402, 22, Dogok-ro 7-gil,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
09/23/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
400,000,000 |
|
Employees |
35 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Woori Bank |
|
Corporate Registered No. |
110111-4126771 |
|
Business Registered No. |
220-87-83872 |
|
Permit & Licenses |
Int’l Trade No.: 11635491 |
|
Shareholder Position |
N/A |
|
Company History |
06/29/2009 Incorporated as the present name 10/05/2011 Moved to the present HQ address
from Rm.
501, Young Place Bldg., 837-33, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 10/24/2012 10/25/2012 Increased capital to 400,000,000
KRW from 100,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Kuk-Won |
Male |
Korean |
06/29/2009 |
|
Director |
M/S. |
Yoon Soon-Joong |
Female |
Canada |
03/19/2012 |
|
Auditor |
Mr. |
Yoon Hee-Joong |
Male |
Korean |
06/29/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
5,389,000,000 |
|
70,000,000 |
|
2009 |
7,010,000,000 |
|
46,000,000 |
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) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issues Shares |
80,000 |
|
Main Products & Services |
Distribution and Conditioning Systems and Equipment and Components Heating and ventilation and air circulation Heating equipment and parts and accessories Forging and Equipment for Power plant, chemical and petrochemical
plant, refinery and environmental plant |
|
Customers |
WONIL CO.(KOREA) GUMKWANG SCRAP CO., LTD.(KOREA) WONIL F&T CO., LTD.(KOREA) |
|
Competitors |
SHIN HAN HEAT EXCHANGER IND. CO. 127-69, GUJANG-RI, PALTAN-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-354-3242 FAX:+82-31-354-3246 KOREA HEAT EXCHANGER CO., LTD. FREE TRADE ZONE, 502-1, OSIKDO-DONG,
GUNSAN-SI, JEOLLABUK-DO, KOREA TEL:+82-63-441-5510 FAX:+82-63-464-5440 TAEWON UBC CO., LTD. NOKSAN NATIONAL INDUSTRIAL COMPLEX,
1635-20, SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA TEL:+82-51-831-0310 FAX:+82-51-831-0340 |
|
Affiliates |
WONIL F&T CO., LTD.(195511-0112816) |
The subject deals
with the companies in India, China, Kuwait and Japan.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.