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I am very pleased to be able to celebrate Nepes 18th anniversary during this clear and fruitful season of the fall. First of all, I think this year is a very meaningful for Nepes because it marks the second year since we declared Nepes II and is the last toward a grown-up if comparing a person.
Looking back upon the last 18 years, Nepes has grown in terms of quality and quantity; Nepes has 4 manufacturing companies and 7 factories in Korea, and 2 manufacturing companies and 3 joint ventures abroad. Based on strategic alliances with leading companies in Korea and abroad, Nepes has grown into a sound medium-sized company.
I would like to give thanks to many who made it possible form the bottom of my heart. First of all, I believe that our success has been made by the grace of the God since we applied Biblical principles to our management philosophy and tried to practice them in everyday lives.
And also, Nepes has been fortunate enough to have hard working executives and staffs like you. Nepes would not be as it is today without any of you. I deeply appreciate for your continuous effort and hard working.
And I would like to thank our country too. Despite of all the trials and difficulties we have been through, the Korean government has offered lots of benefits and important opportunities to small and medium-sized companies like us.
Lastly, I would like to appreciate our customers as well. They have given us not only nice jobs but also guidance and support so that we have improved.
On the other side, I think that we should learn the lesson from the past. We have rapidly grown for a short period of time. The rapid growth caused some of side effect; huge financial damage and loss of great opportunity from careless decisions and emotional tension or even hostility between employees. For this reason, I would like to ask all of you to confess your fault in front of the God and to ask to be excused. And I hope that all of you have a chance to confess our wrongdoings and to forgive each other.
Currently, we are facing a major economic crisis caused by the U.S. subprime mortgage crisis. This crisis is causing wide economic fluctuation and making us hard to predict the future. In this situation, if we were a bit slow, we would be eliminated from competition right away.
In the past, we caught some of great opportunities, however, we will not be able to do in the future unless we are prepared in advance and catch them at right time. As you may know, Nepes launched a 5-year business plan by 2010 to achieve sales of KRW 1 trillion in 2010 and to get into 100 largest companies in Korea. Now, we have 2 years to make this "Quantum Leap" realized. At Nepes 20th anniversary in 2010, I truly believe we would achieve this goal.

To make our dream come true, I would like to propose three practical ways.
Firstly, in order to be flexible to frequent changes from business environment, all of us need to change in ourselves. In other words, we need to throw away old ways of thinking or working which we used to. I expect it is not easy. Most of us tend to refuse changes, because unfamiliarity from changes is causing fear, risk, or hard work. However, please remember the saying that the bitter goes with the sweet and pleasure goes with pain. Only if overcoming fear from change, you will get more confident in yourself and there will be a huge synergy between us. And ultimately we will be able to achieve our goal by 2010.

Secondly, we need to sincerely pursue for "T(togetherness)-Management," to realize the management philosophy and the vision of Nepes. As an owner of Nepes, each of us should cooperate to achieve your objective in your personal life and in turn, to meet the goal of the company. Can anyone climb Mt. Everest by yourself? You can make it only with the help from others. Similarly, we can not do everything all alone. If you make a decision by yourself without cooperation or discussion with other members of the company, you will lose opportunities in many times. It will do harm to the company itself. Consequently, working alone means being arrogant. It's silly. Your colleague next to you is there to help you and you should be there for him too.
Success can be defined in many ways, but some people define it as ‘taking the initiative'. You can not take the lead every time for yourself because you are strong in some aspects but you are not in others. Therefore, you should cooperate to take the initiative all the time. By putting the slogan of ‘Cannot Do It Alone' into practice, we will be able to cope with the rapid changes in business conditions with strength, as one organization.

Thirdly, we need to actively follow "Nepes Way" to feel proud of being a Nepes employee. And we need to strengthen Nepes culture with our unique and original ideas from enjoying it. Indifference is one of the most dangerous things to a community or a company. For the prosperity of the company, we should actively participate in company activities and events, through which we can openly express our opinions and improve our relationship with the colleagues. Daily music class, "I" training, monthly church service, work club activities, and trainings done in the Nepes learning center are good examples of the Nepes Way. They would be helpful for cultivating personality and making our working place more interesting and exciting due to deepened friendliness among colleagues. At the same time, we will be able to develop our problem solving skill through those activities.
When we vigorously practice three keywords(Change=1W, T-Management, Nepes Way) mentioned so far into our daily lives, we will have many things to be thankful for. We will make wonder of taking the lead even in a difficult business environment and be summoned by the times. I am pretty sure that all of us will become the one that our country and the world needs in hard times.

Finally, I would like to give my sincere thanks to all of you who have given so much of yourselves to make Nepes as it is today, and wish God's blessings for you and your families.
Thank you very much.

October 24, 2008