MIRA INFORM REPORT

 

 

Report Date :

27.09.2014

 

IDENTIFICATION DETAILS

 

Name :

DONG JUN INDUSTRIAL CO., LTD.

 

 

Registered Office :

396, Hambangmoe-ro, Namdong-gu, Incheon, Korea Rm. 101, Namdong Industrial Complex 405-848

 

 

Country :

South Korea

 

 

Date of Incorporation :

22.06.2007

 

 

Com. Reg. No.:

131-86-03023

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture of Lamination, Composition and Specific Surface Paper

 

 

No. of Employees :

7

 

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

Payment Behaviour :

Unknown

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 Information

 

Basic

 

Company Name

DONG JUN INDUSTRIAL CO., LTD.

Registered Address

396, Hambangmoe-ro, Namdong-gu, Incheon, Korea

Building

Rm. 101, Namdong Industrial Complex

Zip Code

405-848

Tel

+82-32-819-9043~5

Fax

+82-32-819-9044

E-mail

dongjun21@hanafos.com

Website

www.dong-jun.co.kr

Trading Address

Rm. 101, Namdong Industrial Complex, 396, Hambangmoe-ro, Namdong-gu, Incheon, Korea

(Old Address System : Rm. 101, Namdong Industrial Complex, 435-6, Nonhyeon-dong, Namdong-gu, Incheon, Korea)

Tel

+82-32-819-9043~5

Fax

+82-32-819-9044

Other Address-Hwaseong Factory

24-1, Yuram-ri, Paltan-myeon, Hwaseong-si, Gyeonggi-do, Korea

Other Address-Hwaseong 2nd Factory

302-14, Sangsin-ro, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea

Type

Export

Industry

Manufacture of Lamination, Composition and Specific Surface Paper

  Main Business

Aluminum Foil for Cigarette, Polyester Film for Capacitor

  Sub Business

Manufacture of Plastic Films, Sheets and Plates

Established (mm/dd/yyyy)

06/22/2007

Mr. Seo Min-Chul owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Aluminum foil(30102006)

Sell

Acetate or vinyl or polyester films(60121135)

Sell

Capacitors(32121500)

Buy

Polyethylene terpthalate resin(13111017)

Buy

Polypropylene resin(13111019)

 

 

CEO’s

 

Name

Kim Jin-Bae

Address

Suite 1201-1501, 1088, Sanbon-dong, Gunpo-si, Gyeonggi-do, Korea

Date of Birth

05/17/1958

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

500,000,000

Employees

7

Formation

Co., Ltd by shares

Bank Details

Woori Bank-Namdong Industrial Complex Branch

Industrial Bank of Korea-Namdong Industrial Complex Branch

Corporate Registered No.

120111-0437063

Business Registered No.

131-86-03023

Permit & Licenses

02/03/2000 ISO Certificate of 9001

 

Int’l Trade No.: 45317246

Shareholder Position

N/A

Company History

05/01/1996 Established as DONG JUN INDUSTRIAL CO.(Business Registered No.:139-12-69727 / Sole Proprietorship)

06/22/2007 Incorporated as the present name

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Jin-Bae

Male

Korean

06/22/2007

Director

Mr.

Choi Pyung-Sik

Male

Korean

03/02/2010

Director

M/S.

Lee Keum-Joo

Female

Korean

03/02/2010

Auditor

Mr.

Seo Min-Chul

Male

Korean

03/02/2010

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

 

 

 

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)

2,000,000,000

Paid-Up Capital(KRW)

500,000,000

Total Issues Shares

100,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Aluminum Products

-Cigarettes

-Confectionery

-Dairy products

-Pharmaceuticals

-Cosmetics

-PP cap , Labels in beverage industry

-Machinery

-Foodstuffs

-Insulation

-Fin(general, brazing)stocks

-Household products

 

Polyester film for capacitor

Aluminum foil for capacitor

Polypropylene film for capacitor

Slitter for PET/PP

Pharmaceutical packing materials

-ALU-ALU FOIL

-Blister Foil

 

The subject is known that Mr. Seo Min-Chul and three(3) employees started the business in Buchecon-City, Gyunggi-Do, Korea in 1996. Mr. Seo Min-Chul has graduated Commercial High School and worked for one big company. In spite of his irrelevant academic background, the subject’s technology is considered as a company of higher position.

 

 

Trade Partners & Competitors

 

Competitors

SAMJUNG PACKING & ALUMINUM CO., LTD.

967, GOEDONG-DONG, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-280-8114  FAX:+82-54-280-8301~3

 

CHOIL ALUMINUM CO., LTD.

1207-10, SINSANG-RI, JILLYANG-EUP, GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-53-856-5252   FAX:+82-53-856-5257

 

NAMSUN ALUMINUM CO., LTD.

29-13, BONRI-RI, NONGONG-EUP, DALSEONG-GUN, DAEGU, KOREA

TEL:+82-53-610-5200  FAX:+82-53-610-5102

 

LOTTE ALUMINIUM CO., LTD.

1005, DOKSAN 1-DONG, GEUMCHEON-GU, SEOUL, KOREA

TEL:+82-2-801-8000  FAX:+82-2-801-8109

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2013

2012

2011

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

The subject deals with the companies in China, India and Vietnam.

 

 

News Clipping

 

Not Available.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.57

UK Pound

1

Rs.100.42

Euro

1

Rs.78.45

 

INFORMATION DETAILS

 

Analysis Done by :

 RAS

 

 

Report Prepared by :

SDA

 

               

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%)

 

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