JIPYONG LLC

Jipyong Jisung provided legal advisory services to Woori Investment & Securities Co., Ltd. as the arranger as well as to lenders and the guarantor with respect to the asset backed loan which Qingdao Lidong Chemical Co., Ltd. obtained by providing the local accounts receivable and bank notes as pledge to a Korean special purpose corporation, the first such case for a Chinese enterprise.  In close cooperation between our head office and our Shanghai office, Jipyong Jisung provided a one-stop destination for thorough, comprehensive legal services with respect to various matters under the Korean laws and Chinese laws, including the establishment of the transactional structure, all matters relating to the taxation between China and Korea, preparation and execution of various agreements and contracts in both Korean and Chinese versions, as well as the registration of the accounts receivable pledge with the pledge registration system and registration of the foreign security.