|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
KORYO METAL CO., LTD. |
|
|
|
|
Registered Office : |
1521-19, Seosam-ro, Chukdong-myeon, Sacheon-si,
Gyeongsangnam-do, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
14.05.2001 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacture and
Sales of Agricultural Machinery, Construction Equipment. |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Liquidated |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
KORYO METAL CO., LTD. (Ex. Company Name : KUM GANG TRACK CO.,
LTD., “(주)금강트랙”) (Korean Company Name : “(주)고려금속”) |
|
Registered Address |
1521-19, Seosam-ro, Chukdong-myeon,
Sacheon-si, Gyeongsangnam-do, Korea |
|
Building |
|
|
Zip Code |
664-811 |
|
Tel |
N/A |
|
Fax |
N/A |
|
E-mail |
|
|
Website |
|
|
Trading Address |
1521-19, Seosam-ro, Chukdong-myeon, Sacheon-si,
Gyeongsangnam-do, Korea (Old Address
System : 1, Tap-ri, Chukdong-myeon, Sacheon-si, Gyeongsangnam-do, Korea) |
|
Tel |
N/A |
|
Fax |
N/A |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture and Sales of Agricultural
Machinery, Construction Equipment |
|
Main Business |
Agricultural Machinery & Parts,
Construction Equipment, Metal Products |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
05/14/2001 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Agricultural Machinery |
|
Sell |
Construction Equipment |
|
Name |
Park Chan-Dong |
|
Address |
480, Daeha-ri, Samjang-myeon,
Sancheong-gun, Gyeongsangnam-do, Korea |
|
Date of Birth |
10/01/1969 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
100,000,000 |
|
Employees |
N/A |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
191111-0022562 |
|
Business Registered No. |
N/A. (The numbers are kept by the National
Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
05/14/2001 Incorporated as KUM GANG TRACK
CO., LTD. 04/23/2002 Moved to the present HQ address from 155-6, Sangpyeong-dong,
Jinju-si, Gyeongsangnam-do, Korea 12/26/2002 Changed company name to the present name 12/01/2009 Considered as disorganized company based as
the Commercial Law(520-2-1) 12/03/2012 Liquidated as the Commercial
Law(520-2-4) |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Chan-Dong |
Male |
Korean |
08/02/2004 |
|
Director |
Mr. |
Park Chan-Dong |
Male |
Korean |
08/02/2004 |
|
Director |
Mr. |
Kim Hong-Cheol |
Male |
Korean |
08/02/2004 |
|
Auditor |
M/S. |
Kim Oi-Soon |
Female |
Korean |
08/02/2004 |
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
400,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issued Shares |
20,000 |
|
Main Products & Services |
Agricultural Machinery, Construction Equipment |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Not Available.
Not Available.
-----
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 : |
TPT |
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.