21st Century Shipbuilding Co., Ltd.

Located in Tongyeong, the birthplace of the Turtle Ship, the world's first iron-clad warship, 21st Century Shipbuilding Co. was established in 1998 as a small block manufacturing and ship repair service company, before commencing shipbuilding in 2003. Over the past 10 years, and after only five short years since we entered this industry, we reached the milestone of delivering 60 small and medium-sized ships worth 520 billion won (approx. US$425 mil.) in sales and US$300 million in exports. Clarkson, a British market research company, has listed our company as the 45th-largest shipbuilding company in the world. While our production facility is relatively small by shipping industry standards at 42,000m2 we have delivered 16 ships per year with an average of 50 days shortened for each contract period. Our production turnover ratio and sales per unit area are one of the highest in the world, a testament to 21st Century Shipbuilding's technological and production capabilities that stem from our own independent design department, consisting of 120 experienced designers, fully-skilled engineers nurtured in the shipbuilding field, and research staff of over 40 experts holding advanced degrees and various shipbuilding-related patents, Fully aware that our accomplishments were made possible only through the confidence and trust of our valued customers, we will continue our efforts to provide the highest level of products, customer service quality, and innovative technologies. We appreciate your continued support as we devote ourselves to our new slogan of "Small but Strongest," overcoming the limitations of our size and scale and becoming one of the 21st century's shipbuilding powerhouses. C.E.O Kim Sang Sun