Daewon San-up Co.

Daewon San-up Co., Ltd. is a Korea-based company specialized in manufacture and sale of vehicle seats. The Company mainly provides seats for automobiles of Kia Motors such as Sorento, Morning, G-Carnival and others. The Company also offers components for seats manufacturing. During the year ended December 31, 2007, the Company had a production capacity of 420,820 seats and its actual output was 367,647 seats. In 2007, the seat for G-Carnival, Sorento and Morning accounted for approximately 51%, 24% and 14% of the Company's total revenue, respectively. On July 23, 2008, the Company established a wholly owned subsidiary company, DAEWON RUS LLC, which is mainly engaged in the manufacturing and sale of automobile devices.