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Report No. : |
305982 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SOYON INDUSTRIAL CO., LTD. |
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Registered Office : |
24, Jeongbalsan-ro, Ilsandong-gu,
Goyang-si, Gyeonggi-do, Korea, T1-507~508, Western Tower, 410-837 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.08.2001 |
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Com. Reg. No.: |
107-86-04994 |
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
Wholesales of Other Weaving of
Textiles, P.E. Tarpaulins, PVC Tarpaulins, Mesh Nets,
Garden Tent and Covers |
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No. of Employee : |
5 |
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 : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 |
SOYON INDUSTRIAL CO., LTD. (Korean Company Name : “소연산업(주)”) |
|
Registered Address |
24, Jeongbalsan-ro, Ilsandong-gu,
Goyang-si, Gyeonggi-do, Korea |
|
Building |
T1-507~508, Western Tower |
|
Zip Code |
410-837 |
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Tel |
+82-31-931-5307~9 |
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Fax |
+82-31-931-5310 |
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E-mail |
info@soyon.com;soyon93@unitel.co.kr;tarps@soyon.com;soyon93@unitel.co.kr |
|
Website |
www.soyon.com;tarpaulins.soyon.com |
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Trading Address |
T1-507~508, Western Tower, 24, Jeongbalsan-ro, Ilsandong-gu,
Goyang-si, Gyeonggi-do, Korea (Old Address System : T1-507~508, Western Tower, 867, Janghang 2-dong ,Ilsandong-gu ,Goyang-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-931-5307/9 |
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Fax |
+82-31-931-5310 |
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Other Address |
|
|
Tel |
|
|
Fax |
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Type |
Export |
|
Industry |
Wholesales of Other Weaving of
Textiles |
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Main Business |
P.E. Tarpaulins, PVC Tarpaulins, Mesh Nets,
Garden Tent and Covers |
|
Sub
Business |
Constructional Materials |
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Established (mm/dd/yyyy) |
08/29/2001 |
The Subject Company occupies the premises of registered
HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Tarpaulins(24141506) |
|
Sell |
Synthetic fabrics(11161800) |
|
Sell |
Mesh Nets |
|
Name |
Roh Se-Ho |
|
Address |
Suite 514-604, 70, Hanbit-ro, Paju-si,
Gyeonggi-do, Korea |
|
Date of Birth |
08/02/1968 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
300,000,000 |
|
Employees |
5 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Industrial Bank of Korea-Ilsan Western Dom
Branch Citibank, Korea |
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Corporate Registered No. |
110111-2319138 |
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Business Registered No. |
107-86-04994 |
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Permit & Licenses |
Int’l Trade No. : 30078262 |
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Shareholder Position |
N/A |
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Company History |
08/29/2001 Incorporated as the present name 06/22/2007 Moved to the present address from 12-1, Yeouido-dong
,Yeongdeungpo-gu, Seoul, Korea 12/07/2007 Increased the authorized shares to 1,000,000 shares from
40,000 shares 12/12/2007 Increased capital to 300,000,000 KRW from 50,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Roh Se-Ho |
Male |
Korean |
08/29/2001 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
10,395,159,000 |
4,604,272,000 |
86,082,000 |
|
|
2012 |
11,090,445,000 |
3,614,098,000 |
120,840,000 |
|
2011 |
10,064,863,000 |
3,433,793,000 |
149,660,000 |
|
2010 |
7,345,711,000 |
3,077,597,000 |
130,225,000 |
|
2009 |
6,376,901,000 |
2,374,921,000 |
112,397,000 |
|
2008 |
8,517,518,000 |
1,786,372,000 |
173,950,000 |
|
2007 |
6,036,000,000 |
1,496,000,000 |
40,000,000 |
|
2006 |
4,327,000,000 |
376,000,000 |
19,000,000 |
|
2005 |
5,151,000,000 |
365,000,000 |
21,000,000 |
|
2004 |
5,100,000,000 |
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|
|
2003 |
4,800,000,000 |
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|
The latest & full financials are not
available, and the Subject Company does not have any obligations to release its
financials to the public.
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issues Shares |
60,000 |
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Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
4,604,272,000 |
3,614,098,000 |
3,433,793,000 |
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Current Assets |
|
|
|
|
-Quick Assets |
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-Inventories |
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Fixed Assets |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
3,347,786,000 |
2,443,695,000 |
2,384,230,000 |
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Current Liabilities |
|
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Fixed Liabilities |
|
|
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Capital Stock |
300,000,000 |
300,000,000 |
300,000,000 |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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Total Equity |
1,256,486,000 |
1,170,403,000 |
1,049,563,000 |
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Liab. & Shareholder’s Equity |
4,604,272,000 |
3,614,098,000 |
3,433,793,000 |
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Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
10,395,159,000 |
11,090,445,000 |
10,064,863,000 |
|
Cost of Sold Goods |
|
|
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Gross Profit |
|
|
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Selling & Admin. Expenses |
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Operating Income |
216,722,000 |
229,516,000 |
245,141,000 |
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Non-Operating Income |
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Non-Operating Expenses |
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Income Before Taxes |
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|
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Income Taxes Expenses |
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|
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Net Income |
86,082,000 |
120,840,000 |
149,660,000 |
|
Main Products & Services |
P.E Tarpaulin PVC Laminated Fabric Industrial Net Fabric Net Hay Cover Truck Tarpaulin Orange Fence Field Cover Roofing Membrane PVC Vinyl Fabric |
|
Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
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Customers |
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Competitors |
SOONGWON IND. CO., LTD. 632, GEUMMAE-RI, HYORYEONG-MYEON,
GUNWI-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-383-6166 FAX:+82-54-383-6199 DONG WON INDUSTRY CO. 951-2,GEUMPO-RI, NONGONG-EUP, DALSEONG-GUN,
DAEGU, KOREA TEL:+82-53-615-9791~5 FAX:+82-53-615-9796 NEW PRIME INC. RM. 1416, GWANGHWAMUN OFFICIA, 163,
SINMUNNO 1-GA, JONGNO-GU, SEOUL, KOREA TEL:+82-2-730-4228 FAX:+82-2-730-4229 |
The Subject exports to Europe, USA, Canada and Chile.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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.