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Report No. : |
315774 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MGK CORPORATION |
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Registered Office : |
24, Gimhae-Daero 2567beon-Gil, Gimhae-Si, Gyeongsangnam-Do, Korea 621-916 |
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Country : |
South Korea |
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Date of Incorporation : |
05.07.2001 |
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Com. Reg. No.: |
615-81-20603 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Adhesives and Gelatin (Archaism Glue, Eraser, Pencil) |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 |
MGK CORPORATION |
|
Registered Address |
24, Gimhae-daero 2567beon-gil, Gimhae-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
621-916 |
|
Tel |
+82-55-333-3311 |
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Fax |
+82-55-334-3315 |
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E-mail |
ohw0511@hotmail.com |
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Website |
www.mungyo.co.kr |
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|
|
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Trading Address |
24, Gimhae-daero 2567beon-gil, Gimhae-si,
Gyeongsangnam-do, Korea (Old Address System : 1067-5, Eobang-dong,
Gimhae-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-333-3311 |
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Fax |
+82-55-334-3315 |
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Type |
Export/Import |
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Industry |
Manufacture of Adhesives and Gelatin |
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Main Business |
Archaism Glue, Eraser, Pencil |
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|
|
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Established (mm/dd/yyyy) |
07/05/2001 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pastes(31201602) |
|
Sell |
Chemical adhesives(31201601) |
|
Sell |
Erasers(44121804) |
|
Name |
Kim Min-Ja |
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Address |
Suite 103-3022, 740, Goejeong-dong,
Saha-gu, Busan, Korea |
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Date of Birth |
05/17/1944 |
|
Title |
President & CEO |
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Sex |
Female |
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Nationality |
Korean |
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Capital (KRW) |
200,000,000 |
|
Employees |
21 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Busan Bank-Gimhae Branch |
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Corporate Registered No. |
195511-0048665 |
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Business Registered No. |
615-81-20603 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
|
Company History |
07/05/2001 Incorporated as the present name 11/22/2004 Increased the authorized shares
to 60,000 shares from 20,000 shares 11/23/2004 Increased capital to 200,000,000
KRW from 50,000,000 KRW |
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
Kim Min-Ja |
Female |
Korean |
08/25/2004 |
|
Director |
Mr. |
Nam Myung-Seok |
Male |
Korean |
08/25/2013 |
|
Auditor |
Mr. |
Nam Won-Seok |
Male |
Korean |
03/31/2007 |
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
600,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issued Shares |
20,000 |
|
Main Products & Services |
Archaism Glue, Eraser, Pencil |
|
Competitors |
LEEHO CO., LTD. 1033, JANGNIM 1-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-265-9777 FAX:+82-51-265-3868 SUHAN CORPORATION 43-5, MUKGYE-RI, HOENGSEONG-EUP,
HOENGSEONG-GUN, GANGWON-DO, KOREA TEL:+82-33-342-0601 FAX:+82-33-342-0020 YOUMI CORP. 2ND FL., 547-12, BANGHWA 2-DONG,
GANGSEO-GU, SEOUL, KOREA TEL:+82-2-2663-5913~4 FAX:+82-2-2664-1093 |
|
Affiliates |
MUNGYO KYOJAI
CO.(BIZ. REG. NO.: 622-09-60553) 44-20,
EOBANG-DONG, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-333-3311
FAX:+82-55-334-3315 MUNGYO
INDUSTRY CO., LTD.(195511-0089552) 717-4, SINCHEON-RI,
HALLIM-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-346-1001~5 FAX:+82-55-346-1011 MUNGYO CO.,
LTD.(195511-0051220) 717-4, SINCHEON-RI,
HALLIM-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-346-1010 FAX:+82-55-346-1011 |
The Subject deals with
the companies in China, Japan, North America and Middle East.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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 |
|
|
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 |
|
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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.