On December 20, 2016, our company and Ulsan signed a memorandum of understanding (MOU) to diversify the shipbuilding equipment business at the Ulsan plant.

Ulsan City is actively supporting administrative support such as subsidy support and licensing to smoothly promote business diversification investment. We will invest KRW 32 billion in the Ulsan Thermal Power Plant until 2019, which will be used for fusion reactor business, 3D print powder business, marine and onshore plant business Etc. to enter new markets.

In order to overcome the crisis of the shipbuilding industry and strengthen the competitiveness of the company, the company\'s investment was the first in Korea to utilize the \"Diversification Grant Program for Shipbuilding Equipment Business\" by the Ministry of Commerce, Industry and Energy It is a system subsidized by the government for a limited period of a year.

This investment is the first in Korea to utilize the \"Diversification Grant System for Shipbuilding Equipment Business\" by the Ministry of Commerce, Industry and Energy, which was implemented at the end of September to overcome the crisis of the shipbuilding industry and strengthen the competitiveness of the company.

It is the system that the government supports for up to 14% of the enterprise investment for a period of two years.