Rehoboth Committed to
Transforming DR Congo
into an Economic
Powerhouse in Africa

Signs to make a massive investment into the country under its national development plan approved by the African government
The Rehoboth Group, founded by its current Chairman Lee Kap-woo, is not a Korean Chaebol (traditional family-controlled conglomerate), but a dynamic medium-scale group with its affiliate companies specialized in different business sectors. Starting from construction business the group has been evolving into a global enterprise expanding its activity to overseas construction, development of natural resources, energy and IT business. For recent years the group has been looking for the group's growth engine and heavily invested time and money in various overseas development projects.
Especially when Chairman Lee visited the DR Congo for the first time in his life, he saw enormous potentiality of the country. The DR Congo is one of the richest countries in natural resources such as oil, natural gas, minerals and water power resource. But due to these abundant natural resources the country has been in the status of civil war during last 40 years.
Recently, with the help of UN the country put an end to this long-lasting civil war and, for the first time, democratically elected Mr. Joseph Kabila as its new President of the DR Congo. After presidential election Congo President Joseph Kabila rapidly stabilized the political situation and set up a five-year national reconstruction plan for the period of year 2007 to 2011.
However, the country itself is too poor to get out of absolute poverty by its own efforts. This situation reminded Chairman Lee of the Korean economy situation of year 1960- right after the Korean War. Korea could get out of this difficulty through the help of foreign capitals, well-educated and diligent workers, and well ordered reconstruction plan of the government. Now Korea achieved the brilliant economic growth, so-called "Miracle of the Han River,"and became world's 11th economic powerhouse within so short period of time. Chairman Lee has a strong conviction that if his group, Rehoboth, can help and collaborate with the DR Congo for the national reconstruction,
the country can be economically one of the most dynamic countries in Africa, raise the national per capital income to $3,000 in a decade and achieve the so-called "Miracle of the Congo River's His national development proposal for the DR Congo is inspired by the reconstruction model of the Republic of Korea. First of all, his plan is not limited to partial sector such as the development projects of natural resources only. To maximize the development efficiency and achieve compressed economic growth he proposed a national-wide reconstruction plan which consists of six different development programs; 1. development for new town and industrial complex including national infrastructure such as railways, roads, highways, ports, airports and canals, 2. development for natural resources such as oil, gas, minerals and forest, 3. development for energy such as hydroelectric, 4. construction of agricultural plantation and food processing, 5. construction of factories for construction materials, 6. development for financial industry and IT business.
Chairman Lee said, "the DR Congo President Kabila, the government and people showed immediate interest to find out Rehoboth's economic development proposal were almost identical to those of their government. Furthermore, our basic idea is to make intensive investment first in the country and recoup the investment only after the country is fully recovered economically. The Rehoboth Group has secured funds up to $15 billion to carry out its project in the DR Congo as its initial investment."Rehoboth established a bridgehead for its presence in the DR Congo as Rehoboth Chairman Lee inked an MOU on Rehoboth's investment program with DR Congo Prime Minister Antoine Gizenga in Kinshasa on July 24. According to this MOU, Rehoboth will make investment up to $40 billion for next 15 years - $31 billion in construction of new cities and industrial complex; $5 billion in electricity industry; $2.8 billion in exploitation of gas, oil, minerals and forest development; $500 million in financing and IT industry; and $200 million in construction material manufacturing.
Chairman Lee said, "Rehoboth" initial $15 billion investments into gas and crude oil exploitation projects will trigger economic vitality of the DR Congo and create capital accumulation in the country within a short period of time. And most of the profits out of these projects will be reinvested into other projects in the country to expedite national reconstruction."Also he stressed that simple development of natural resources does not create large substantial value. "So development of higher value-added industry such as refining or food processing is very important."he said.
"The DR Congo has a huge amount of natural resources presumed to surpass those of Nigeria or Kazakhstan and foreign investment is only focused on short term business models due to country risk. However, if Rehoboth makes its first success with its long-term business model in the country, it will become a catalyst for investment into DR Congo from foreign investors,"Chairman Lee opined.
One of the barriers for foreign investment into the DR Congo is financing system which is premature yet. So Rehoboth plans to set up its own financing facilities and IT infrastructure in the DR Congo.
Among the projects, Chairman Lee pins high hopes on his version of the proposed mammoth Inga hydroelectric project, which has become a subject of international attention over the utilization of the Congo River's huge potential for hydroelectric power. "Due to natural water fall difference ranging from 100 meters to 150 meters and constant huge water volume through out the year we can obtain the cheapest electricity power. This electricity will be consumed not only in DR Congo but also exported to neighboring countries. And for the surplus electricity we are planning to set up plants for liquid hydrogen,"he said.
The DR Congo has still serious housing welfare problem due to the concentration of human and economic resources in few big cities. So Rehoboth plans to develop new towns throughout the nation including industrial complexes. These projects will be carefully designed and executed in line with other development programs.
The agreement of July 24 stipulates the establishment of the Technical Coordination Committee which has 14 members from the DR Congo and Rehoboth. The committee will be set up to harmonize the strategic orientation of the program between Rehoboth's and that of the DR Congo government and to provide advice for priority of the investment.
One of the most exiting programs for national reconstruction is now launched in the DR Congo and Cairman Lee is committed to steering major part of this program to initiate and trigger DR Congo's prosperous voyage.
Rehoboth has been accelerating its bid to strengthen its overseas presence in such areas as construction, construction materials, IT and security business in three former CIS (Commonwealth of Independent States) countries, including Kazakhstan as well as Southeast Asian countries. In particular, Rehoboth is in negotiations with Kazakhstan to participate in one of the nation's two massive casino town projects beyond Alma-Ata. It consists of four major companies -Rehoboth Holdings, Rehoboth Tech Co., Ltd., Rehoboth E&SC Co., Ltd. and Seok-Bo Industrial Co.. Ltd. nw

A map of the Democratic Republic of Congo (left photo) A delegation from the DR Congo government poses together with Rehoboth Chairman Lee Kap-woo and other officials during their visit to Rehoboth head office in Seoul June 3-10.

Rehoboth Chairman Lee Kap-woo shakes hands with the incumbent DR Congo President Joseph Kabila prior to their meeting at the presidential office.

Rehoboth Tech, a Pioneer in Biometric Industry

Set to mass produce a revolutionary breakthrough of iris technology

Rehoboth Tech Co., Ltd. is a specialist in the biometrics industry. The company's primary focus is to provide biometric security solutions using our unique iris authentication technology, so called IrikonTM, which is world's first embedded system for iris authentication. IrikonTM is based on a combination of patent-pending optical technology and recognition algorithms. Iris authentication is widely recognized as the fastest, most accurate and scalable of all biometric technologies.
But the barrier for market expansion for this technology was extremely high price and technical difficulties. The IrikonTM'technology is world's first stand-alone type iris authentication system and a revolutionary breakthrough of iris technology not only in its inexpensive cost but also in its system size. Rehoboth will bring out many products designed for security applications that include portable iris authentication device, iris USB key for computer and on-line transaction, residential biometric door lock and physical access control.
Rehoboth Chairman Lee Kap-woo said, "Iris recognition technology is the most promising business area."The company is set to mass produce iris recognition products, IrikonTM'flash memory and IrikonTM'stand-alone door lock, next February.
Rehoboth Tech's IrikonTM'products have attracted the spotlight from many exerts such as U.S. Defense Department and other nations during a security trade show held in Las Vegas this March, he said.