Oki Microelectronics Establishes a Semiconductor Sales Company in Korea

Oki Electric Industry Co., Ltd. today announced that Oki Microelectronics Co., Ltd., a wholly owned semiconductor sales company, establishes a new sales company: Oki Microelectronics Korea Co., Ltd., in Seoul, Korea. It will market Oki's semiconductor products, in particular system LSIs, to the Korean market, beginning its operation on October 1, 2002.

Tokyo, Japan, September 30, 2002 -- Oki Electric Industry Co., Ltd. today announced that Oki Microelectronics Co., Ltd., a wholly owned semiconductor sales company, establishes a new sales company: Oki Microelectronics Korea Co., Ltd., in Seoul, Korea. It will market Oki's semiconductor products, in particular system LSIs, to the Korean market, beginning its operation on October 1, 2002.

"As Oki's semiconductor businesses grow in Korea, it became important to have our own sales company in this market. The establishment of the new sales company represents Oki's commitment to respond customers requirements quickly in this drastically changing market," said Kazuhiko Shimizu, President of Oki Microelectronics in Japan.

As Oki's semiconductor business in Korea has been expanding rapidly, the company has decided to enhance its marketing and sales functionality by establishing a sales company in the market while keeping its existing sales channels. In order to increase services to customers, the new company will employ field application engineers for quick technical supports. It will also accelerate cultivation of new customers in the Korean market.

The new sales company in Korea is a wholly owned subsidiary of Oki Microelectronics Co., Ltd. in Japan, capitalized at 500 million won. The sales targets are 1.2 billion yen in the first fiscal year ending March 2003, and 5 billion yen in the fiscal year ending March 2006. Total sales in Korea will be 10 billion combining both the sales of the new sales company and that of the existing channels.


About the new semiconductor sales company
- Company Name: Oki Microelectronics Korea Co., Ltd.
- Company Address: 909C CCMM B/D, 12 Yoido-dong,Youngdungpo-ku,Seoul 150-869 Korea
- Branch Office: Sunggang B/D, 369-3, Wongpeyong-1Dong, Gumi, Goungbuk, Korea
- President: Jun Hara
- Employees: 9 upon commencement of operations
- Establishment: October 1, 2002
- Operation commencement: October 1, 2002
- Capital: 500 million won
- Investor: Oki Microelectronics Co., Ltd. 100%
- Business: Import, market, and sales of electronic devices

About Oki Electric Industry Co., Ltd.
Founded more than a century ago in 1881, Oki Electric Industry Co., Ltd. is Japan's first telecommunications manufacturer, headquartered in Tokyo, Japan. With more than 23,000 employees worldwide, Oki Electric provides customers with top-quality products, technologies and solutions for telecommunication systems, information systems and electronic devices through its corporate vision, "Oki, Network Solutions for a Global Society." Visit Oki's global web site at http://www.oki.com/.

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