JIPYONG LLC

Jipyong & Jisung rendered legal advice to Moorim International Co., Ltd. in connection with a joint venture agreement by and between Moorim International Co., Ltd. and PT. PLASMA NUTFAH MARIND PAPUA, a reforestation company in indonesia in June, 2011.

Moorim International Co., Ltd. is an independent legal entity established by Moorim P &P, a leading paper manufacturing company in Korea, for investment purpose in reforestation project in Indonesia. In April 2011, Moorim International Co., Ltd. entered into an agreement to propel reforestation project, acquiring 50.6% stakes in an Indonesia-based reforestation company, PT. PLASMA NUTFAH MARIND PAPUA.

Pursuant to the Agreement, Moorim International Co., Ltd. will develop 65,000hectar (size of Seoul Metropolitan area) of forest plantation in Indonesia and it plans to invest KRW 100 Billion in the project by 2018. And thanks to the project, it has secured the provision of more than 400,000 tons of wood chip per year.

[Korean Article Reference]

• Asia Economy - Moorim International, Full blown development of Forest Plantation (June 2, 2011)