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Report No. : |
326548 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAE RYONG IND. CO., LTD. |
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Registered Office : |
56-13, Gongdan-Gil, Hanam-Myeon,
Hwacheon-Gun, Gangwon-Do, Korea 209-842 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.05.2000 |
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Com. Reg. No.: |
221-81-16544 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of All Other Chemical Products n.e.c. (Hyper Seal,
Hydrophilic Bentonite) |
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No. of Employees : |
26 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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 – 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 |
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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 economic 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. A system of close government and business ties, including
directed credit and import restrictions, initially 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 7% 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 over 6% growth in
2010. The US-Korea Free Trade Agreement was ratified by both governments in
2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced sluggish growth because of external market slowdowns. The
administration in 2015 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 the heavy reliance on exports, which comprise about half of
GDP.
|
Source
: CIA |
|
Company Name |
DAE RYONG IND.
CO., LTD. |
|
Registered Address |
56-13, Gongdan-gil, Hanam-myeon,
Hwacheon-gun, Gangwon-do, Korea (Old Address System : 146-3, Woncheon-ri,
Hanam-myeon, Hwacheon-gun, Gangwon-do, Korea) |
|
Zip Code |
209-842 |
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Tel |
+82-33-441-0960 |
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Fax |
+82-33-441-0988 |
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E-mail |
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Website |
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Trading Address |
2FL., Daeryong Bldg., 127, Nonhyeon-ro,
Seocho-gu, Seoul, Korea (Old Address System : 2FL., Daeryong
Bldg., 84-12, Yangjae-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-573-4690 |
|
Fax |
+82-2-578-4935 |
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Other Address |
845-16, Yuram-ri, Paltan-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
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|
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|
Type |
Export |
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Industry |
Manufacture of All Other Chemical Products n.e.c. |
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Main Business |
Hyper Seal, Hydrophilic Bentonite |
|
|
|
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Established (mm/dd/yyyy) |
05/09/2000 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Moisture repellent(15121801) |
|
Name |
Lee In- Kil |
|
Address |
B-4509, 467-29, Dogok-dong, Gangnam-gu,
Seoul, Korea |
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Date of Birth |
01/05/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
200,000,000 |
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Employees |
26 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Citibank, Korea-Gangnam Branch |
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Corporate Registered No. |
144111-0000680 |
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Business Registered No. |
221-81-16544 |
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Permit & Licenses |
09/15/2014 ISO 9001 01/22/2014 KS Mark 04/20/2011 KS Mark 09/15/1999 ISO 9001 |
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Shareholder Position |
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Company History |
07/1989 Established as DAE RYONG CELLULOSE INDUSTRY CO. 05/09/2000 Incorporated as the present name |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee In-Kil |
Male |
Korean |
03/31/2003 |
|
Director |
Mr. |
Han Myung-Jin |
Male |
Korean |
03/31/2003 |
|
Director |
Mr. |
Cho Young-Gui |
Male |
Korean |
03/31/2003 |
|
Director |
Mr. |
Seo Bok-Sun |
Male |
Korean |
03/31/2006 |
|
Auditor |
Mr. |
Hong Seok-Kyun |
Male |
Korean |
03/31/2003 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
9,905,056,000 |
9,475,390,000 |
514,484,000 |
|
2012 |
8,859,640,000 |
8,536,710,000 |
455,228,000 |
|
2011 |
7,839,230,000 |
8,441,026,000 |
593,444,000 |
|
2010 |
7,808,914,000 |
7,941,465,000 |
263,448,000 |
|
2009 |
7,515,164,000 |
6,739,431,000 |
568,022,000 |
|
2008 |
7,566,000,000 |
5,780,000,000 |
506,000,000 |
|
Authorized Capital(KRW) |
800,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
9,475,390,000 |
8,536,710,000 |
8,441,026,000 |
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Current Assets |
|
|
|
|
-Quick Assets |
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|
|
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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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|
|
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Total Liabilities |
4,785,382,000 |
4,361,187,000 |
4,720,731,000 |
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Current Liabilities |
|
|
|
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Fixed Liabilities |
|
|
|
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Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
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Capital Surplus |
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|
|
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Profit Surplus |
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|
|
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Capital Adjustment |
|
|
|
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Total Equity |
4,690,008,000 |
4,175,523,000 |
3,720,295,000 |
|
Liab. & Shareholder’s Equity |
9,475,390,000 |
8,536,710,000 |
8,441,026,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
9,905,056,000 |
8,859,640,000 |
7,839,230,000 |
|
Cost of Sold Goods |
|
|
|
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Gross Profit |
|
|
|
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Selling & Admin. Expenses |
|
|
|
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Operating Income |
798,650,000 |
339,210,000 |
522,660,000 |
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Non-Operating Income |
|
|
|
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Non-Operating Expenses |
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|
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Income Before Taxes |
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|
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Income Taxes Expenses |
|
|
|
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Net Income |
514,484,000 |
455,228,000 |
593,444,000 |
|
Main Products & Services |
Hydrophilic Rubber Hydrophilic Bentonite Dual structure PVC plate Hydrophilic Sealant Hydrophilic PU Sealant PU Sealant |
|
Customers |
WONYOUNG CONSTRUCTION CO., LTD.(110111-0358378) ILHO INTERNATIONAL CO., LTD.(134211-0011736) KOREA SEOKYU INDUSTRY CO., LTD.(KOREA) DONGAH JIJIL CO., LTD.(KOREA) |
|
Competitors |
NALCO KOREA LTD. 11TH FL., KOREA LIFE INSURANCE 63 BLDG.,
60, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-789-6961 FAX:+82-2-786-3140 SILKROAD C & T CO., LTD. 9TH FL., DIPLOMATIC CENTER BLDG., 1376-1,
SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-2057-0114 FAX:+82-2-2057-6060 HANSU LTD. 8B-14L, 741-5, WONSI-DONG, DANWON-GU,
ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-492-7800 FAX:+82-31-492-6800 |
The Subject exports
to Europe and South East Asia.
Not Available.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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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 |
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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 |
|
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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.