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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SI GROUP KOREA LTD. |
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Registered Office : |
223-26, Yeosusandan 2-ro, Yeosu-si, Jeollanam-do,
Korea |
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Country : |
South Korea |
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Date of Incorporation : |
19.12.2001 |
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Com. Reg. No.: |
206214-0006594 |
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|
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Legal Form : |
Limited Responsibility Company |
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|
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Line of Business : |
Manufacture and Sales of Chemicals |
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|
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No. of Employees : |
9 |
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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|
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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 |
|
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 |
Basic
|
Company Name |
SI GROUP KOREA LTD. (Korean Company Name : “에스아이그룹코리아(유)”) |
|
Registered Address |
223-26, Yeosusandan 2-ro, Yeosu-si,
Jeollanam-do, Korea (Old Address System : 356-6, Hwachi-dong,
Yeosu-si, Jeollanam-do, Korea) |
|
Zip Code |
555-280 |
|
Tel |
+82-61-688-3643 |
|
Fax |
+82-61-691-1917 |
|
E-mail |
sd.korea@siigroup.com |
|
Website |
www.siigroup.com |
|
Trading Address |
Rm.308, Namsan Lotte
Castle Iris, 35, Sogong-ro, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-6937-8900 +82-2-3276-2686 |
|
Fax |
+82-2-6937-8999 +82-2-3276-2684 |
|
Type |
Export/Import |
|
Industry |
Manufacture and Sales of Chemicals |
|
Main Business |
Alkyl Phenol |
|
Established (mm/dd/yyyy) |
12/19/2001 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Anti corrosives(15121800) |
|
Sell |
Polymerics(12162002) |
|
Sell |
Flocculents(47101608) |
|
Sell |
Resins(13111000) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Anti oxidants(12162200) |
|
Sell |
Phenolic resin(13111002) |
|
Sell |
Pesticides or pest repellents(10191500) |
|
Sell |
Polyurethane resins(13111061) |
CEO’s
|
Name |
Shim Jin-Sub |
|
Address |
Suite 109-301, 334-13, Gungnae-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
10/20/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
520,000,000 |
|
Employees |
9 |
|
Formation |
Limited Responsibility Company Foreign Direct Investment Corporation |
|
Bank Details |
Citibank, Korea |
|
Corporate Registered No. |
206214-0006594 |
|
Business Registered No. |
417-81-24757 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
12/19/2001 Incorporated as SCHENECTADY
KOREA LTD. 12/28/2001 Increased capital to 520,000,000
KRW from 50,000,000 KRW 06/29/2012 Changed company name to the
present name |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Shim Jin-Sub |
Male |
Korean |
04/08/2002 |
|
Director |
Mr. |
Emmanuel Hess |
Male |
French |
06/29/2012 |
|
Auditor |
Mr. |
Sia Bun Wa |
Male |
Singaporean |
08/31/2012 |
The 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) |
Not Applicable to Limited Responsibility Company |
|
Paid-Up Capital(KRW) |
520,000,000 |
|
Total Issued Shares |
Not Applicable to Limited Responsibility Company |
Products,
Technologies, Services Description
|
Main Products & Services |
Adhesives Antioxidants Engineering Plastics Fuels & Lubricants Industrial Resins Active Pharmaceutical Ingredients Plastic Additives Rubber Specialty Surfactants |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Trade Partners &
Competitors
|
Competitors |
WOOCHANG CHEMICAL CO., LTD(161411-0002746) KOREA DAEHYUP CHEMICAL CO., LTD.(134111-0013255) DANSUK CO., LTD.(134111-0010839) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SI GROUP, INC. 2750 BALLTOWN ROAD SCHENECTADY, NY 12301
U.S.A. TEL:+1 518.347.4200 |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2013 |
2012 |
2011 |
The Subject deals with the companies in USA.
Court Action
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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.