Welcome to Heavy Industry Division. Korindo signed a commercial vehicle CKD (Complete-Knock-Down) contract on June 16 2006, which is Hyundai’s largest supply contract in the Asian region. Indonesia is the world’s 23rd largest automobile market and the largest commercial vehicle market in Southeast Asia where over 500,000 units, both passenger and commercial vehicles were sold in 2005, up 67% from 2002. With the latest contract in a market where the demand in on the steady rise, Korindo/Hyundai has secured a foothold to enhance its brand image for commercial vehicles in the Asian market, rapidly emerging as a vast market for commercial vehicle markets. With the launch of the commercial vehicle business with Hyundai, Korindo plans to promote the automobile business in earnest, by establishing production facilities capable of producing 5,000 trucks and 2,000 buses annually. We promise to give more than 100% to be the leader in commercial vehicle industry in Asean and also working our best to keep its cooperative relationship with Hyundai in its future business expansion into the heavy-duty truck and large-size bus markets. Sincerely yours Kim Byung-Soo Head of Heavy Industry Division