MIRA INFORM REPORT

 

 

Report No. :

328192

Report Date :

20.06.2015

 

IDENTIFICATION DETAILS

 

Name :

YOONG TRACHEM CO.

 

 

Registered Office :

173-37, Haguidong-ro 34beon-gil, Daegot-myeon, Gimpo-si, Gyeonggi-do, Korea

 

 

Country :

South Korea

 

 

Date of Incorporation :

01.12.2012

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesale of Materials for Recycling and Other Specialized Goods

 

 

No. of Employees :

01

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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

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 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. 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 slow growth due to sluggish domestic consumption and investment. 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. In an effort to address the long term challenges and sustain economic growth, the current government has prioritized structural reforms, deregulation, promotion of entrepreneurship and creative industries, and the competitiveness of small and medium enterprises.

 

Source : CIA

 

Basic Information

 

Company Name

YOONG TRACHEM CO.

(Korean Company Name : “N/A”)

Registered Address

173-37, Haguidong-ro 34beon-gil, Daegot-myeon, Gimpo-si, Gyeonggi-do, Korea

Building

 

Zip Code

415-853

Tel

N/A

Fax

N/A

E-mail

 

Website

 

Trading Address

173-37, Haguidong-ro 34beon-gil, Daegot-myeon, Gimpo-si, Gyeonggi-do, Korea

(Old Address System : 15-3, Daemyeong-ri, Daegot-myeon, Gimpo-si, Gyeonggi-do, Korea)

Tel

N/A

Fax

N/A

Other Address

 

Tel

 

Fax

 

Type

Export/Import

Industry

Wholesale of Materials for Recycling and Other Specialized Goods n.e.c.

  Main Business

Covercoat, Decal, Ceramic Color, Medium for Ceramic and Glass Printing

  Sub Business

 

Established (mm/dd/yyyy)

12/01/2012

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Coating paints(31211504)

Sell

Chemicals including Bio Chemicals and Gas Materials(12000000)

 

 

CEO’s

 

Name

Park Sug-Chul

Address

 

Date of Birth

 

Title

Owner / General Manager

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

Not Applicable to the Sole Proprietorship

Employees

1

Formation

Sole Proprietorship

Bank Details

N/A

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

N/A. (The numbers are kept by the National Tax Service confidentially.)

Because the subject’s full Business Registered No., for checking through the National Tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.)

Permit & Licenses

N/A

Shareholder Position

The owner has 100% shares.

Company History

12/01/2012 Established as the present name

In our research through the official sources including the Supreme Court Registry at which every Co Ltd type of Company should be registered, we could not find the subject company under the subject company name. So we submit the report as a Sole Proprietorship Type of Company as long as the subject company exists.

 

A source tells 107-71-78407(Business Registered No.) belongs to the subject, but we could not confirm of it by our own investigation. And this number is not active any more according to the National Tax Services.

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

Mr.

Park Sug-Chul

Male

Korean

12/01/2012

 

 

Financials

 

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)

Not Applicable to the Sole Proprietorship

Paid-Up Capital(KRW)

Not Applicable to the Sole Proprietorship

Total Issued Shares

Not Applicable to the Sole Proprietorship

 

 

Products, Technologies, Services Description

 

Main Products & Services

Covercoat, Decal, Ceramic Color, Medium for Ceramic and Glass Printing

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

SUNG DO INTERNATIONAL CO., LTD.

RM. 204, SINHWA TOWER, 502-1, MOK 2-DONG, YANGCHEON-GU, SEOUL, KOREA

TEL:+82-2-2652-9482~3  FAX:+82-2-2651-5648

 

SYNOPEX INC.

856, SONGDONG-RI, DAESONG-MYEON, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-289-4012  FAX:+82-54-278-6716

 

KORTEK CORPORATION

1385-15, JUAN 5-DONG, NAM-GU, INCHEON, KOREA

TEL:+82-32-860-3000  FAX:+82-32-862-6839

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

-------

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.82

UK Pound

1

Rs.101.26

Euro

1

Rs.72.36

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

TPT

 

               

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.