We also achieved excellent results in new development of high power and earth-friendly gas engines, and vertical multi-joint robots for LCD manufacturing to foster new business. I believe they were the results of our energetic efforts over the year to achieve our goals.

This year we set goals of USD 3.2 billion in new orders and KRW 4.4 trillion in sales, up 40% and 12% respectively from last year. Our strategy to achieve these business goals is thus,

First, we will obtain the growth engines for new product development and new business launch. By focusing on new models and product development, we will continuously expand joinable market. For high speed engines, ballast water management systems, gear and high capacity gas compressors, we will increase sales through promoting new business.

Second, we will strengthen the core competence for securing production volume. We will focus on sales increase of CKD engines and engines with short period of deliveries with several aggressive strategies to extend or maintain our existing production volume at minimum. In addition, we will formulate a system of cooperation to deliver on time, reinforce technical support, product quality and customized service for our clients.

Third, we will strive to maintain the quality of our products and reduce their costs. We will work on existing products for zero-defects by improving design and quality management, and new products for early stabilization of quality by standardizing process methods. We will also study cost analysis and design improvements to remain competitive for small & medium size bore 2-stroke engines and HiMSEN engines.

Fourth, we will build foundation for global management. We will carry forward new global business, and make it stable early to build foundation for global management, make the best use of our global network and strengthen sales capacity and a quick A/S system to satisfy client needs with the best quality and service.

I guarantee that we can achieve our business objects this year if we always try to find better way and work with challenging attitude.

Additionally, I request that we all observe the safety rules and focus on preventing accidents at work so that we can make a zero-accidents workplace.

I wish all of you health and happiness.