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Report No. : |
328107 |
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Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
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Name : |
LG TECH CO., LTD. |
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|
|
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Registered Office : |
30-7, Sicheongseo 4-Gil, Yeosu-Si, Jeollanam-Do, Korea 555-809 |
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Country : |
South Korea |
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|
|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.09.1993 |
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Com. Reg. No.: |
417-81-07990 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesales of Petrochemicals, Chemicals and
Oils |
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|
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
LG TECH CO., LTD. |
|
Registered Address |
30-7,
Sicheongseo 4-gil, Yeosu-si, Jeollanam-do, Korea |
|
Building |
|
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Zip Code |
555-809 |
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Tel |
+82-61-686-2500 |
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Fax |
+82-61-684-3071 |
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|
|
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Trading Address |
30-7,
Sicheongseo 4-gil, Yeosu-si, Jeollanam-do, Korea (Old Address
System : 205-9, Hak-dong, Yeosu-si, Jeollanam-do, Korea) |
|
Tel |
+82-61-686-2500 |
|
Fax |
+82-61-684-3071 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Wholesales of Petrochemicals, Chemicals and
Oils |
|
Main Business |
Petrochemicals, Chemicals and Oils,
Machinery |
|
|
|
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Established (mm/dd/yyyy) |
09/15/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Name |
Lee Young-Wan |
|
Address |
Suite 1-804, 53, Seonwon-dong, Yeosu-si,
Jeollanam-do, Korea |
|
Date of Birth |
06/23/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
100,000,000 |
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Employees |
7 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Kookmin Bank-Yeocheon Branch |
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Corporate Registered No. |
206211-0003017 |
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Business Registered No. |
417-81-07990 |
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Permit & Licenses |
Int’l Trade No.: 15001092 |
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Shareholder Position |
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Company History |
09/15/1993 Incorporated 06/14/1994 Changed company name to the
present name 07/16/2002 Moved to the present HQ address
from 205-8, Hak-dong, Yeosu-si, Jeollanam-do, Korea 12/11/2007 Increased capital to 100,000,000
KRW from 50,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Young-Wan |
Male |
Korean |
07/06/2006 |
|
Auditor |
M/S. |
Ko Ae-Ran |
Female |
Korean |
07/06/2009 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2013 |
|
|
|
|
2012 |
5,060,263,000 |
2,579,652,000 |
317,767,000 |
|
2011 |
5,023,000,000 |
2,505,000,000 |
234,000,000 |
|
2010 |
4,221,000,000 |
1,775,000,000 |
169,000,000 |
|
2009 |
2,814,000,000 |
1,058,000,000 |
85,000,000 |
The latest
financials are not available, and the Subject Company does not have any obligations
to release its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issued Shares |
10,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
|
2,579,652,000 |
2,505,000,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
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Fixed Assets |
|
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-Investment |
|
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|
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-Tangibles |
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|
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-Intangibles |
|
|
|
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Total Liabilities |
|
919,484,000 |
1,163,000,000 |
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Current Liabilities |
|
|
|
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Fixed Liabilities |
|
|
|
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Capital Stock |
|
100,000,000 |
100,000,000 |
|
Capital Surplus |
|
|
|
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Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
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Total Equity |
|
1,660,168,000 |
1,342,000,000 |
|
Liab. & Shareholder’s Equity |
|
2,579,652,000 |
2,505,000,000 |
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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 |
|
5,060,263,000 |
5,023,000,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
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Operating Income |
|
376,340,000 |
261,000,000 |
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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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Income Taxes Expenses |
|
|
|
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Net Income |
|
317,767,000 |
234,000,000 |
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Main Products & Services |
Petrochemicals, Chemicals and Oils,
Machinery |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
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Competitors |
SHARON
CHEMICALS & TRADE CO., LTD. 105-117,
DONGJAK SANGTEVILLE OFFICETEL, 719, SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL,
KOREA TEL:+82-2-832-6822~3 FAX:+82-2-832-6825 DNS
INTERNATIONAL RM. 701,
HARVARD OFFICETEL, 875-7, CHEONGNYONG-DONG, GWANAK-GU, SEOUL, KOREA TEL:+82-2-872-0947 FAX:+82-2-6280-0960 SAMBO GLOBAL
CO., LTD RM. 818,
HANSHIN CORE OFFICETEL, 11-9, SINCHEON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-2202-2251 FAX:+82-2-2202-2254 |
Not Available.
Not Available.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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 |
|
|
-- |
NB |
New Business |
-- |
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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.