Generating Power from Wind
- Unison getting high dividends from its Wind Park

Unison (Chairman J. S. Lee) is the first company to design and build a commercial Wind Park in Korea. Sales from this project in 2004 reached 45 billion KRW. The company does'nt only want to solely become a Wind Park developer but wants to be a holding company for other Wind Parks, and it does'nt seem too far away from reaching this goal.
Unison is the major stakeholder of three Wind Parks built in Youngduk, Daegwallyong, and Jeju Island. In case of Youngduk Wind Power Co., Ltd., it is capitalized at KRW 15.75 billion. Unison, Armada of Spain and NEG MICON of Denmark hold 61%, 34% and 5% of Youngduk Wind Power respectively. Also, Unison holds 93.3 % and 98 % stakes in Gangwon Wind Power Co., Ltd. and Jeju Wind Power Co., Ltd. until so far, which are supposed to be built this year. A German company invested in Gangwon Wind Park, and more foreign investors seem to participate in the investment.
Chairman Lee said that the participation of experienced foreign companies shows that Wind Park construction has succeeded until now and a German engineering firm was quite surprised at the success of Wind Park construction in Korea.
We expect that the amount of dividend reached KRW 850 million in 2006, KRW 1.554 billion in 2007 and KRW 5.265 billion in 2017. As mentioned above, Union holds 61 percent of stakes in Youngduk Wind Power Co., Ltd. and will be the one to get quite more income from dividends in the near future. Also, Unison is expected to earn additional income from its operation and maintenance service. Unison has been carrying out the site survey as Wind Park developer in Jeju, Gangwon, North Gyeongsang, South Jeolla, and South Chungchong provinces, which amounts to 17 locations.
Chairman also said that Wind Parks in Korea are especially built to be pro-environment and clean energy among all new energy sources and have been very successful in European countries like Germany, Demark, and are growing fast in other advanced European countries, too
Wind Park construction is expanding in Korea based on the Kyoto protocol's going into force in the first half of next year.
Unison earned KRW 6.2 billion from operating profit on 2004, KRW 80 billion from sales, which are more than double the figure in 2003. Operating profit had been increased nearly four times as much as one of 2003 due to the recovery of the sale in civil engineering material and due to new income from the sale of New & Renewable Energy business. Last year, income from New & Renewable Energy sources amounted to KRW 44.9 billion, which is almost the same as figure of the existing business sales, KRW 42.9 billion. New & Renewable Energy business causes Unison to increase total income.
Chairman Lee told that the company would be able to make KRW 50 billion in sales from its existing business because order backlog of total KRW 70 billion. The company expects its sales to increase sharply as it is ready to supply steel structures for Yonuk and Yondo bridges in southern coastal areas and anti-earthquake equipment for high-rise buildings. Unison has over 25% market share for civil engineering products, maintaining its top position with high quality products in the market. Also, Unison sells its products not only in domestic but also foreign countries such as Taiwan, Turkey and etc. and is in the process of knocking at China's doors for exports.
Unsion is aiming for a turnover of KRW 110 billion and operating profit of 15 billion. Civil engineering and etc., which are the existing businesses, are anticipated to expand more this year due to the recovery of local economy and intensified anti-vibration design for building. Also, Gangwon Wind Power Co., Ltd. is scheduled to begin installing Wind Turbines during the first phase (14 units) and Jeju Wind Park construction is proceeding. nw

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