Sungwon Pipe Announces Engagement With ICON Media Communications to Lead Investor Relations Efforts

SEOUL, Republic of Korea, Oct. 26 /PRNewswire-FirstCall/ -- Sungwon Pipe Co. Ltd ("Sungwon Pipe" or the "Company"), Korea's leading provider of stainless steel pipes (STS), announced today that the Company has engaged ICON Media Communications ("ICON Media"), to lead its public and investor relations efforts. ICON Media will work with Sungwon Pipe to facilitate the Company's exposure to the US capital markets, and coordinate their communications program with the investment communities for assets in the Company's ADRs, which recently was listed on the OTCQX.

"With the engagement of ICON Media we seek to enhance our international presence and generate long-term investor relationships with the growing interest in Korean companies. We are confident that raising our profile within the U.S. capital markets will strengthen and consolidate our investor communications with current shareholders, as well as create our exposure with new investors," said Mr. Chung Keun Kim, Chief Executive Officer of Sungwon Pipe.

Debra Chen, President of ICON Media said, "We are excited to be working with Korea's largest stainless steel pipe provider. Sungwon Pipe has attained market leadership consistently over the past few quarters and demonstrated impressive performance in one of Korea's fastest growing industries. We feel the Company is positioned to become a major global player in the STS market and their aggressive sales platform offers a compelling investment story for the US capital markets."

The management team of Sungwon Pipe will participate in a U.S. non-deal marketing road show beginning on Monday November 1st to Friday, November 5th, 2010. Investors are requested to contact Debra Chen for scheduling details at 917-499-8129 or by emailing [email protected].

About Sungwon Pipe Co. Ltd

Sungwon Pipe Co., Ltd. is a Korea-based company that is primarily involved in the production and supply of stainless steel pipes used in different industrial applications. Sungwon Pipe Co. Ltd. is Korea's number one stainless steel pipe manufacturing company. In December 2009, it acquired MS Metal, the stockist and distributor as a wholly-owned subsidiary to become Korea's first and largest total stainless steel pipe Company. The Company's products are used in paper manufacturing, petrochemical industry, food processing, heat exchangers, industrial structural products and shipbuilding. Sungwon Pipe distributes its products in domestic markets and recently announced an initiative to focus on the overseas markets with current contracts in the United States and Middle East. Its major customers include Samsung, Hyundai, Daewoo, etc.

www.sungwonpipe.com

SOURCE Sungwon Pipe Co. Ltd.