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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
HEE CHANG COMPANY |
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Registered Office : |
58, Hakjang-ro 169beon-gil, Sasang-gu, Busan, Korea |
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Country : |
Korea (South) |
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Date of Incorporation : |
01.08.1993 |
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Com. Reg. No.: |
617-844 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
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No. of Employees : |
13 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) - 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 |
HEE CHANG COMPANY (Korean Company Name : “희창산업”) |
|
Registered Address |
58,
Hakjang-ro 169beon-gil, Sasang-gu, Busan, Korea |
|
Zip Code |
617-844 |
|
Tel |
+82-51-316-5211 |
|
Fax |
+82-51-313-5212 |
|
E-mail |
heechangco@hanmail.net |
|
Trading Address |
58, Hakjang-ro
169beon-gil, Sasang-gu, Busan, Korea (Old Address
System : 265-3, Hakjang-dong, Sasang-gu, Busan, Korea) |
|
Tel |
+82-51-317-5212 |
|
Fax |
+82-51-313-5212 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
|
Main Business |
Cutting Tools, Broach Abrasive |
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Established (mm/dd/yyyy) |
08/01/1993 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cutting tools(23153300) |
|
Sell |
Tool attachments and accessories(27112800) |
|
Sell |
Grinding and sanding and polishing equipment and supplies(23131500) |
CEO’s
|
Name |
Min Byung-Kwon |
|
Date of Birth |
07/22/1952 |
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Title |
Owner |
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Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
13 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
606-44-81412 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
08/01/1993 Established as the present name |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Min Byung-Kwon |
Male |
Korean |
08/01/1993 |
Financials
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 the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
Products,
Technologies, Services Description
|
Main Products & Services |
Cutting Tools, Broach Abrasive |
Trade Partners
& Competitors
|
Customers |
HYUNDAI STEEL COMPANY(120111-0001743) ILJIN GLOBAL CO., LTD.(110111-0224165) |
|
Competitors |
JINMYUNG INDUSTRY CO., LTD. 321-2, DANGJEONG-DONG, GUNPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-455-0441~3 FAX:+82-31-455-0444 SE WOONG CO. 549, CHASAN-RI, HWADO-EUP, NAMYANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-593-6014 FAX:+82-31-593-6015 PACK CHEON MACHINERY CO., LTD. 427-17, CHEONGCHEON 2-DONG, BUPYEONG-GU,
INCHEON, KOREA TEL:+82-32-517-8014 FAX:+82-32-517-8024 |
Sales by Region (Activity & Markets)
Not Available.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
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.