Money Today

By Seo Myung-Hoon

29 September, 2010

Oullim Networks Inc. said on 29th that the Memorandum of Understanding (MOU) regarding to the SPIRRA supply has signed on 27th between Oullim Networks and the biggest company of import cars in China, “Shanghai Trading Co. Ltd. For Automobile Import CTCAI (Shanghai Trading)”.

According to MOU, Shanghai Trading imports and sells SPIRRA, and also it is responsible for after-sales service.  Two parties would begin to cooperate advertising dealerships in China and they plan to gradually extend dealerships, starting from Shanghai.

They decided to jointly exhibit SPIRRA in the 2011 Shanghai International Motor Show.
SPIRRA would be participated in the international motor show in three years since the 2008 Beijing Motor Show.

Shanghai Trading, which is the 100% owned by the Chinese government, has branches in the whole area of China, and also, in the last year, Shanghai Trading imported approximately 50,000 vehicles and took 11.7% market share of import cars in China.
 
Before the middle of November, the first SPIRRA Chinese dealership is planning to open a showroom in the central area of luxurious car stores in Shanghai. Oullim Networks would transport minimum two vehicles to China in the middle of October this year.

Mr. Park, the Chairman of Oullim Networks, stated that it is not an exaggeration to say that all luxury vehicles in the world are gathered in Shanghai. Moreover, he said that he would visit Shanghai next week for the showroom opening and build a positive cooperation system with Shanghai Trading.