Discussion of issues of joint cooperation in the field of cars technical assembly between Sumotoriand Daedong Car Adjust Co., Ltd

Vladivostok, January 10, 2018

The negotiations of Sumotori representatives with representatives of the DAEDONG Special Vehicle Co., Ltd Mr. Xi Nam Choy and Hyundai Motor Company Mr. Joo Yon Chu took place in the framework of the signed earlier agreement between the Group of Companies Sumotori and Daedong Car Adjust Co., Ltd.

The parties discussed issues of joint cooperation in the sphere of technical assembling of cars on the basis of Sumotori company.

The parties also discussed the participation of the Korean Automobile Manufacturers Association in the car show, which will be held in Vladivostok in May 2018, as well as in the international industrial exhibition INNOPROM-2018, where Korea has the official status of the partner country.

Also, on December 13, 2017 in Vladivostok, with the assistance of the Delegation of the International Congress of Industrialists and Entrepreneurs (ICIE or Congress) in the Asia-Pacific region, business negotiations were held and the agreement was signed between the Vice President of the Sumotori Group Yuri Bystrov and the President and Chief Executive Officer South Korean company Daedong Car Adjust Co., Ltd Mr. Choi Shi Nam.

As part of these negotiations, the parties agreed on joint cooperation in the field of automobile business. In particular, the issues of joint production of specialized vehicles on the basis of Korean low-tonnage trucks, including vans for medical care, refrigerators, ambulances, thermo vans, etc., have been discussed.