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Title Daesung Group to Provide New & Renewable Energy System for Bangladesh 2010.07.02

FROM: Daesung Group

Daesung Group to Provide 
New & Renewable Energy System for Bangladesh

- Reliable electricity supply and water for agricultural use through solar home system
  and solar pumping system
- Part of KOICA’s ‘East Asia Climate Partnership’ project

SEOUL, Korea – June 29, 2010 – Daesung Group (Chairman, Younghoon David Kim) will expand its new and renewable energy system business to Bangladesh after continuing successes in Mongolia and Kazakhstan.

Daegu City Gas Co., Ltd., a major subsidiary of Daesung Group, announced that it has won the contract for a ‘new & renewable energy system project for Bangladesh’ that is part of KOICA’s ‘2009 East Asia Climate Partnership’.

Daegu City Gas Co., Ltd. will install 1,250 solar home systems with irrigation pumps and generators in regions where power grids do not exist in Bangladesh. The KRW 2.3 billion project will last for 21 months from July 2010.

In addition to creating electricity generating systems, Daegu City Gas Co., Ltd. plans to dispatch specialists in water resources and energy as well as to support the training of local experts through the appropriate educational opportunities. Bangladeshi workers will be invited to training programs in Korea by Daegu City Gas where they will learn about energy policy and study management techniques.

 “Daesung Group’s professionalism and credibility accumulated over the past 60 years with successful projects in energy technology are widely-known domestically and internationally,” said Younghoon David Kim, Chairman of Daesung Group. “This project is a great opportunity to enhance the status of the company as a leading eco-friendly corporation that promotes green business by supplying new and renewable energy systems all around the world.”

Daegu City Gas Co., Ltd. successfully completed the GEEP (Green Eco Energy Park) project for anti-desertification by using the SolaWin system in Ulaanbaatar, Mongolia in 2009. The company has also completed the Mandakh Soum project, which was to supply agricultural water and electricity for residents this year. In addition, the company was selected by KOICA as the main business provider for SolaWin systems in Kazakhstan last May.

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