Sungwon Pipe Commences Trading on OTCQX

SEOUL, Republic of Korea, Sept. 17 /PRNewswire-FirstCall/ -- Sungwon Pipe Co. Ltd., Korea's leading provider of stainless steel pipes, announced today that its American Depository Receipts (ADRs) are available for trading in the United States on OTCQX International under the symbol "SNGWY" as of market open this morning.  Each ADR represents 10 ordinary shares listed on the KOSDAQ under the symbol "015200."

"Given our current leadership in the Korean market and a strategic focus to expand our business internationally, this is an opportune time for Sungwon Pipe to increase its visibility and to establish a direct channel with U.S. investors to share our strategic vision of becoming a major global player in the stainless steel pipe industry," said Mr. Chung Keun Kim, Chief Executive Officer of Sungwon Pipe. "We have achieved a milestone today as we are the first company from Korea to list on the OTCQX. By doing so, we are demonstrating our commitment to providing our investors with trading transparency, easy access and high quality disclosure. We are confident that our OTCQX listing paired with the extensive expertise and support of Madison Williams will generate the long-term relationships we are seeking within the U.S. investment community."

Managing Director and Head of Madison Williams' OTCQX Advisory Group Stephen Nash said, "With an industry-leading energy investment banking practice, Madison Williams has the expertise and network to raise Sungwon Pipe's profile among U.S. investors.  Several high caliber international companies have recently taken advantage of OTCQX's cost-effective U.S. quotation, enabling foreign equities to be traded during U.S. market hours using U.S. dollars and be held in U.S. brokerage accounts."

As part of Madison Williams' Principal American Liaison sponsorship, the firm has been retained to provide a suite of capital markets services and will provide the PAL compliance function for Sungwon Pipe's listing on the OTCQX International.  Madison Williams' suite of services distinguishes its PAL sponsorship program by providing the highest level of client service, integration and coordination among the firm's institutional sales, trading, research and investment banking departments.  

The OTCQX is a highly visible trading platform that has attracted more than 125 companies since its inception in early 2007. Built on a robust electronic quotation and trading platform, the OTCQX International has emerged as the world's premier cross-listing venue for international issuers that wish to benefit from U.S. trading and investor demand without diluting their current shareholder base.  In just over three years, the OTCQX has grown to include more than $600 billion in companies traded on the market.  

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.

About Madison Williams

Madison Williams is a privately held integrated capital markets and investment banking firm offering advisory services, equity sales, trading, and research services to institutional and corporate clients. Headquartered in New York, the firm has more than 100 employees in six major offices, including New York, Houston, New Orleans, Boston, Chicago and San Francisco. Madison Williams was the capital markets business of Sanders Morris Harris Group and was spun out in a management-led buyout in December 2009. For more information about Madison Williams, contact 212-317-2707, or log on to http://www.madisonwilliams.com

SOURCE Sungwon Pipe Co. Ltd.