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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
ILSHIN STEEL INTERNATIONAL CO. |
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Registered Office : |
152,
Eoyeon-Gil, Cheongbuk-Myeon, Pyeongtaek-Si, Gyeonggi-Do 451-833 |
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Country : |
South Korea |
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Date of Incorporation : |
01.07.1998 |
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Com. Reg. No.: |
125-07-72398 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals. |
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No. of Employees : |
2 |
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 – 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
|
Company Name |
ILSHIN
STEEL INTERNATIONAL CO. |
|
Registered Address |
152,
Eoyeon-gil, Cheongbuk-myeon, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Building |
-- |
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Zip Code |
451-833 |
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Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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E-mail |
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Website |
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Trading Address |
152,
Eoyeon-gil, Cheongbuk-myeon, Pyeongtaek-si, Gyeonggi-do, Korea (Old
Address System : 177, Baekbong-ri, Cheongbuk-myeon, Pyeongtaek-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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|
|
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Other Address |
Rm.603, Kyungsung Bldg., 814-1, Seojeong-dong,
Pyeongtaek-si, Gyeonggi-do, Korea |
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Tel |
+82-31-666-8789 |
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Fax |
+82-31-668-8784 |
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Type |
Export |
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Industry |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals |
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Main Business |
Stainless Steel Sheet, Stainless Steel Coil |
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|
|
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Established (mm/dd/yyyy) |
07/01/1998 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Steel(11101704) |
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Sell |
Stainless Steel Sheet |
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Sell |
Stainless Steel Coil |
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Sell |
Basic Metals |
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Name |
Cho Moon-Hyun |
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Address |
|
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Date of Birth |
12/08/1959 |
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Title |
Owner |
|
Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
2 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Kookmin Bank-Songtan Branch |
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Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
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Business Registered No. |
125-07-72398 |
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Permit & Licenses |
Int’l Trade No.: 21037634 |
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Shareholder Position |
N/A |
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Company History |
07/01/1998 Established as ILSHIN STEEL
INTERNATIONAL CO. 1125/2004 Awarded
the export top prize |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Cho Moon-Hyun |
Male |
Korean |
04/03 2008 |
|
Auditor |
M/S. |
Lee Ok-Hee |
Female |
Korean |
07/01/1998 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
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2011 |
|
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2010 |
|
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2009 |
8,781,000,000 |
1,493,000,000 |
253,000,000 |
|
2008 |
7,135,000,000 |
1,467,000,000 |
195,000,000 |
The latest & full financials are not
available, and the Subject Company does not have any obligations to release its
financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
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Total Issued Shares |
10,000 |
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Main Products & Services |
Since 1998, The Subject Company is one of
the Korean trading companies, which is specialized in stainless steel products,
as an exporter, importer and distributor of stainless steel flat, long and
profile products. Its main business field is to export all of the stainless
steel products produced by Korean mills for overseas market. Cold Rolled Stainless Steel Strip in Coils Cold Rolled Stainless Steel Sheets & in
Coils, BA Finished Cold Rolled Stainless Steel Sheets & in
Coils, 2B Finished Stainless Steel Premium Finishes in Sheets Stainless Steel ERW Tubes for Automotive
Exhaust Systems Stainless Steel Seamless Pipes & Tubes Hot Rolled Stainless Wire Rods Hot Rolled Stainless Steel Round Bars Cold Drawn Round Bars Hot Rolled Annealed & Pickled Stainless
Steel Equal Angle Bars Hot Rolled Annealed & Pickled Stainless
Steel Equal Flat Bars Stainless Steel Silted Flat Bars from HRC Tool Steel Round Bars Tool Steel Wide Flat Bars |
|
Competitors |
SUNGHO STEEL CO., LTD. 823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA TEL:+82-53-356-3587 FAX:+82-53-351-7577 KOREA STAINLESS METAL CO., LTD. 660-39, BONGAM-DONG, MASAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-299-6111 FAX:+82-55-299-6114 DUCKSOO METAL CO., LTD. 1658-5, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-7177 FAX:+82-51-831-7185 |
|
Affiliates |
ILSHIN
STEEL CO., LTD.(131311-0081186) |
The Subject exports to Australia, Brazil and India.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
-- |
|
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.