Company Profile For Daewoo Shipbuilding & Marine Engineering Co Ltd

Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) is engaged in building ships and offshore structures. Its product portfolio includes commercial ships, such as liquefied natural gas (LNG) carriers, oil tankers, containerships, liquefied petroleum gas (LPG) carriers, pure car carriers; offshore structures, such as FPSO vessels, drilling rigs, drillships and fixed platforms, and naval vessels, including submarines, destroyers,rescue ships and patrol boats. The Company operated in three segments: Shipbuilding, Offshore plants and Other. DSME is a specialized shipbuilding and offshore contractor that builds various vessels, offshore platforms, drilling rigs , floating oil production units, submarines, and destroyers. The Company’s subsideries include DW Mangalia Heavy Industries S.A, DSEC Co., Ltd., Welliv Corp., DSME Construction Co., Ltd., DSME Shandong Co., Ltd., Shinhan Machinery Co., Ltd. and DSME E&R.

BRIEF: For the fiscal year ended 31 December 2008, Daewoo Shipbuilding & Marine Engineering's revenues increased 56% to W12.221T. Net income decreased 14% to W260.61B. Revenues reflect increased demands for various products. Net income was offset by lower gain on currency forwards valuation, higher loss on currency forwards transaction and higher loss on foreign exchange transaction as well as higher loss on foreign currency translation.