SAMPLE Co., Ltd.

D-U-N-S: 99-999-9999

Inquiry Date : Sep. 02, 2019

Delivery Date : Sep. 11, 2019

NICE D&B Co., Ltd.

15th FL., Credit Center Bldg. 686, Ahyeon-dong, Mapo-gu, Seoul 121-709, Korea

NICE D&B Co., Ltd.

15th FL., Credit Center Bldg., 217, Mapo-daero, Mapo-gu, Seoul 04117, Korea

Tel:(822)2122-2562 Fax:(822)2122-2590 http://www.nicednb.com

Note:

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Korea Comprehensive Report

Company Name SAMPLE Co., Ltd.

President(CEO) Roh, Young Whun Established Date 2002/11/01

DUNS Number 99-999-9999 Registered Date 2002/10/12

Business Registration No. 107-86-24874 Corporate Registration

No. 110111-2629347

Address 217, Mapo-daero, Mapo-gu, Seoul

D&B Rating 5A1 (Prev. 5A1) CLIP Risk Rating AA (Prev. AA)

CRI Rating A1 History Clear

Condition Strong Trend Even

No. of Employee 298 Sales Account KRW 42,167,014,703

Net Income KRW 7,840,103,594 Total Assets KRW 51,102,350,093

Issued Capital KRW 7,700,000,000 Settle Accounts Month 12

Telephone 822-21222500 FAX 822-21222591

E-mail sample@sample.com Website www.samplekorea.com

Import Yes Export Yes

Line of Business Company Credit Investigation Service

SIC 7323-9904

Parent Company

▹Name : None

▹Country :

▹Share hold% : % Currency: All Monetary shown in KOREAN MILLION Won unless otherwise stated.

Exchange Rate of The Latest Fiscal Year (as of Dec. 31, 2018) : 1,118.10 KRW/USD

On Sep. 06, 2019, an office manager of the subject confirmed operational & historical information and obtained F/S from annual reports.

Company Summary

Current Investigation

Subject company is a corporation - KOSDAQ listed established in 2002 with 298 employees.

Subject company's registered capital is KRW 7,700 mil.

Subject company has 1 media record in the past 6 months.

Operations are profitable operations based on its 2018 financial statement.

Date Sep. 02, 2019

Source Financial News

Details Chungnam Techno Park-SAMPLE, Export Promotion Agreement

Chungnam Techno Park announced on the 2nd, Sep. that it has entered into a business

agreement with SAMPLE, a corporate credit certification agency, to promote and promote

export of auto parts industry. Under the agreement, the two sides will work together to

foster the auto parts companies as export leaping SMEs. The contents of the agreement

include: △ Establishment of a database for the automobile industry enterprise information

database (DB) △ Support for strengthening the export capacity of the automotive industry

△ Support for overseas buyer discovery and matching △ Support for trade practice and

performance expansion.

Executive Summary

Media Release

D&B Risk Assessment D&B Rating

5A1

Net Worth 5A

The D&B Rating for the subject is 5A1 which indicates a tangible net worth more than KRW 35,515,000,000, and an overall credit condition which is considered strong.

CLIP Risk Analysis

AA

Upper 20%

Ind. Avg.

The Subject

Lower 20%

D C CC CCC B BB BBB A AA AAA

The CLIP Risk Analysis for the subject is AA. Based on this Analysis, the subject is judged to Very high level of credibility for short-term business. May correspond to changes in circumstances that could be assumed. According to the peer group analysis, credibility of the subject is in above the average, which was analyzed to be within top 20% among peer group.

CRI Rating

A1

Highest level of credibility for short-term business. Superior level of credibility which can correspond to any changes in circumstance within the rational estimation that can be made at current status.

CRI Rating Analysis

Category Factor Mark

0 1 2 3 4 5 6 7 8 9 10

Loan status Loans from banks

Profitability

Net Income to Total Asset

Retained Earnings to Paid-in Capital

Total Expenses to Total Revenues

Stability Stockholders' Equity to Total Assets

Total Liabilities to Sales

Activity Trade Receivables Turnover

Appraisal Item

Unsatisfactory level of loan status, which is within lower 30% among peer group Superior level of overall profitability, which is within top 10% among peer group. Superior level of overall financial stability, which is within top 10% among peer group. Average level of overall turnover ratios, which is average among peer group

Remark

Brief Financial Summary

(Unit : KRW Mil., %)

Item 2016/12 2017/12 2018/12 Financial Ratios 2016/12 2017/12 2018/12

Total Assets 37,344 43,008 51,102 Total Assets Turnover 0.7 0.8 0.9

Total SH’ Equity 32,232 35,612 40,955 SHs' Equity to Total Assets 86.3 82.8 80.1

Capital Stock 7,700 7,700 7,700 Debt to Equity 15.9 20.8 24.8

Total Borrowings - - -

Total Borrowings and Debentures

Payables to Total Assets

- - -

Financial Exp. - - - Financial Exp. to Sales - - -

Sales 24,018 32,327 42,167 Growth Rate of Sales 1.4 34.6 30.4

Operating Income 4,752 6,644 8,817 Operating Income to Sales 19.8 20.6 20.9

Net Income 4,342 4,961 7,840 Net Income to 18.1 15.3 18.6

Sales

Finance *Note : If F/S are not obtainable, this section is substituted to financial ratio analysis on industry average. Statement of Financial Position (Unit : KRW Mil., %)

Account 2016/12 2017/12 2018/12

Amount % Growth Amount % Growth Amount % Growth Current Assets 25,828 69.2 -3.6 23,475 54.6 -9.1 30,158 59.0 28.5 Quick Assets 25,828 69.2 -3.6 23,475 54.6 -9.1 30,158 59.0 28.5 Cash & Cash Equivalent 4,203 11.3 -15.4 5,017 11.7 19.4 6,895 13.5 37.4 S/T Investments 20,100 53.8 0.0 14,400 33.5 -28.4 17,800 34.8 23.6 Trade Receivables 1,375 3.7 -9.1 3,559 8.3 158.9 4,384 8.6 23.2 Other Receivables 16 0.0 -50.2 0 0.0 -99.9 572 1.1 4,767,466.7 Advance Payments 6 0.0 9.8 9 0.0 46.0 1 0.0 -83.0 Prepaid Expense 64 0.2 -7.6 113 0.3 76.6 115 0.2 1.9 Other Quick Assets 64 0.2 -40.5 378 0.9 490.8 391 0.8 3.4 Inventories 0 0.0 - 0 0.0 - 0 0.0 - Non-current Assets 11,516 30.8 43.7 19,533 45.4 69.6 20,944 41.0 7.2 Investments 9,438 25.3 42.2 16,697 38.8 76.9 17,129 33.5 2.6 L/T Financial Instruments 0 0.0 - 0 0.0 - 700 1.4 - Other Investments 9,438 25.3 42.2 16,697 38.8 76.9 16,429 32.1 -1.6 Tangible Assets 1,200 3.2 269.7 1,021 2.4 -14.9 959 1.9 -6.0 Land 0 0.0 - 0 0.0 - 0 0.0 - Assets for Depreciation 577 1.5 77.8 777 1.8 34.7 837 1.6 7.7 Construction in-Progress 623 1.7 - 243 0.6 -61.0 122 0.2 -49.7 Other Tangible Assets 0 0.0 - 0 0.0 - 0 0.0 - Intangible Assets 586 1.6 3.3 1,214 2.8 107.1 1,586 3.1 30.6 Other Non-current Assets 292 0.8 -39.8 601 1.4 105.9 1,270 2.5 111.3 Housing Assets for Rent 0 0.0 - 0 0.0 - 0 0.0 - Total Assets 37,344 100.0 7.3 43,008 100.0 15.2 51,102 100.0 18.8 Current Liabilities 5,007 13.4 -8.0 7,217 16.8 44.1 9,662 18.9 33.9 Trade Payables 0 0.0 - 0 0.0 - 0 0.0 - Short Term Borrowings 0 0.0 - 0 0.0 - 0 0.0 - Advance Receipts 823 2.2 7.4 651 1.5 -20.9 885 1.7 36.0 Accrued Expenses 2,675 7.2 -17.6 3,794 8.8 41.8 5,606 11.0 47.8 Accrued Income Taxes 536 1.4 -20.0 939 2.2 75.3 1,325 2.6 41.0 Current Portion of L/T Liabilities 0 0.0 - 0 0.0 - 0 0.0 - Other Current Liabilities 1,510 4.0 5.6 2,772 6.4 83.6 3,170 6.2 14.4 Non-current Liabilities 104 0.3 -86.8 179 0.4 72.0 485 0.9 170.6 Debentures 0 0.0 - 0 0.0 - 0 0.0 - Long-Term Borrowings 0 0.0 - 0 0.0 - 0 0.0 - Provision for S&R Benefits 104 0.3 -86.8 179 0.4 72.0 485 0.9 170.6 Other Non-Current Liabilities 0 0.0 - 0 0.0 - 0 0.0 - Total Liabilities 5,112 13.7 -18.0 7,396 17.2 44.7 10,147 19.9 37.2 Capital Stock 7,700 20.6 0.0 7,700 17.9 0.0 7,700 15.1 0.0 Capital Surplus 4,478 12.0 0.0 4,478 10.4 0.0 4,478 8.8 0.0 Retained Earnings 19,736 52.8 20.4 23,434 54.5 18.7 30,288 59.3 29.2 (Net Income) 4,342 11.6 1.7 4,961 11.5 14.2 7,840 15.3 58.0 Capital Adjustments 0 0.0 - 0 0.0 - 0 0.0 - Other Accu. Comprehensive Income 319 0.9 - 0 0.0 - -1,510 -3.0 - Total Stockholders’ Equity 32,232 86.3 12.8 35,612 82.8 10.5 40,955 80.1 15.0 Total Liabilities & Capital 37,344 100.0 7.3 43,008 100.0 15.2 51,102 100.0 18.8 Total Borrowings * 0 0.0 - 0 0.0 - 0 0.0 - *Note: Total borrowings include Long-Term Trade Payables and Long-Term Accounts Payables.

Income Statement (Unit : KRW Mil., %)

Account 2016/12 2017/12 2018/12

Amount % Growth Amount % Growth Amount % Growth Sales 24,018 100.0 1.4 32,327 100.0 34.6 42,167 100.0 30.4 Cost of Sales 0 0.0 - 0 0.0 - 0 0.0 - Gross Income 24,018 100.0 1.4 32,327 100.0 34.6 42,167 100.0 30.4 S&A Expenses 19,266 80.2 2.7 25,683 79.4 33.3 33,350 79.1 29.9

Salaries 9,319 38.8 10.6 12,588 38.9 35.1 16,690 39.6 32.6 S&R Benefits 590 2.5 -7.3 762 2.4 29.1 876 2.1 15.0 Employee Benefits 417 1.7 17.7 506 1.6 21.3 712 1.7 40.7 Taxes And Dues 357 1.5 29.4 421 1.3 18.1 574 1.4 36.3 Rent 355 1.5 7.7 444 1.4 24.9 581 1.4 30.8 Depreciation 276 1.1 -10.2 543 1.7 96.8 717 1.7 32.1 Advertising Expense 407 1.7 45.6 617 1.9 51.4 883 2.1 43.2 Bad Debt Expenses 0 0.0 - 0 0.0 - 0 0.0 - Others 7,544 31.4 -7.4 9,802 30.3 29.9 12,316 29.2 25.6

Operating Income 4,752 19.8 -3.6 6,644 20.6 39.8 8,817 20.9 32.7 Non-Operating Income 685 2.9 -6.2 929 2.9 35.6 1,253 3.0 34.8

Interest Income 530 2.2 -2.0 313 1.0 -40.9 494 1.2 57.5 Dividends Income 0 0.0 - 334 1.0 - 672 1.6 101.3 Gains On Foreign Currency Transaction 101 0.4 15.7 39 0.1 -61.1 39 0.1 -0.1 Others 53 0.2 -47.6 243 0.8 353.8 48 0.1 -80.3

Non-Operating Expenses 107 0.4 -32.6 1,332 4.1 1,147.5 106 0.3 -92.1 Interest Expense 0 0.0 - 0 0.0 - 0 0.0 - Losses On Foreign Currency Transaction 80 0.3 10.0 53 0.2 -33.4 26 0.1 -50.7 Others 27 0.1 -68.7 1,279 4.0 4,659.1 79 0.2 -93.8

Ongoing Biz. Income Before Income Taxes 5,330 22.2 -3.1 6,241 19.3 17.1 9,964 23.6 59.6 Income Tax Expenses for Ongoing Biz. Income 988 4.1 -19.8 1,280 4.0 29.6 2,124 5.0 65.9 Ongoing Biz. Income 4,342 18.1 1.7 4,961 15.3 14.2 7,840 18.6 58.0 Discontinued Biz. Income 0 0.0 - 0 0.0 - 0 0.0 - Net Income 4,342 18.1 1.7 4,961 15.3 14.2 7,840 18.6 58.0 Auditor’s Opinion & Source of F/S : Unqualified, The F/S was obtained from its audited report.

Manufacturing Cost Statement (Unit : KRW Mil., %)

Account 2016/12 2017/12 2018/12

Amount % Growth Amount % Growth Amount % Growth Cost of Materials - - - - - - - - - Labor Costs - - - - - - - - - Salaries - - - - - - - - - Severance And Retirement Benefits - - - - - - - - - Expenses - - - - - - - - - Depreciation - - - - - - - - - Taxes And Dues - - - - - - - - - Employee Benefits - - - - - - - - - Rent - - - - - - - - - Outside Processing Expense - - - - - - - - - Others - - - - - - - - - Total Mfg. Overhead - - - - - - - - - Beginning Work-in Process - - - - - - - - - Ending Work-in Process - - - - - - - - - Transfers-In - - - - - - - - - Cost of Goods Manufactured During the Year - - - - - - - - - Beginning Inventory - - - - - - - - - Transfers-In - - - - - - - - - Ending Work-In Process - - - - - - - - - Cost of Sales - - - - - - - - -

Financial Ratios (Unit : %, Time)

Item Arithmetic Expression 2017/12 2018/12 Avg. of same Ind.

<Profitability>

Net Income to SHs' Equity Net Income/(SHs' Equity in former term+SHs' Equity in this term)x200 14.6 20.5 5.4

Net Income to Total Assets Net Income/(Total Assets in former term+Total Assets in this term)x200 12.3 16.7 1.8

Net Income to Sales Net Income/Sales x 100 15.3 18.6 1.9 Interest Coverage Ratio (Operating Income/Interest Expenses)*100 - - 144.3 Financial Exp. to Sales Financial Exp./Sales x 100 0.0 0.0 1.4 Cost of Sales to Sales Cost of Sales/Sales x 100 0.0 0.0 45.6 Capital Surplus and R/E to SHs’ Equity (Capital Surplus+R/E)/ SHs' Equity x 100 78.4 84.9 - Operating Income to Sales Operating Income/Sales x 100 20.6 20.9 2.0 <Stability> Current Ratio Current Assets/Current Liabilities x 100 325.3 312.1 137.2 Non-current Assets to SHs' Equity & Non-current Liab.

Non-current Assets / (SHs' Equity + Non-current Liabilities) x 100 54.6 50.5 85.0

Debt to Equity Ratio Total Liabilities/SHs' Equity x 100 20.8 24.8 228.9 SHs' Equity to Total Assets SHs' Equity/Total Assets x 100 82.8 80.1 30.4 Total Borrowings and Debentures Payables to Total Assets Total Borrowings/Total Assets x 100 0.0 0.0 48.6

Quick Ratio Quick Assets/Current Liabilities x 100 325.3 312.1 106.4 <Turnover Ratios> Working Capital Turnover Sales/Average of Working Capital 13.1 10.6 7.9 Trade Payables Turnover Sales/Average of Trade Payables - - 40.8 Trade Receivables Turnover Sales/Average of Trade Receivables 13.1 10.6 11.3 Inventories Turnover Sales/Average of Inventories - - 15.8 Total Assets Turnover Sales/Average of Total Assets 0.8 0.9 0.9 <Growth Ratios>

Growth Rate of SHs’ Equity SHs' Equity in this term/SHs' Equity in former term x 100-100 10.5 15.0 32.6

Growth Rate of Operating Income Operating Income in this term/Operating Income in former term x 100-100 39.8 32.7 -

Growth Rate of Total Assets Total Assets in this term/Total Assets in former term x 100-100 15.2 18.8 56.3

Growth Rate of Sales Sales in this term/Sales in former term x 100-100 34.6 30.4 26.2 *Note: Source of Industrial Average : Financial Statement Analysis For 2018 of THE BANK OF KOREA (N75900) Other Business Support Services (All Enterprise), The Average of the fiscal year 2017

The firm has experienced an upwards trend in total revenues over the past three years. Total sales during FY2016 were KRW 24,018 Mil representing an increase of 1.4% yoy, FY2017 sales were KRW 32,327 Mil (yoy increase of 34.6%) and FY2018 sales were KRW 42,167 Mil. (yoy increase of 30.4%) helped by positive commercial business sector’s performance. Operating income margin remained relatively stable at 20.9% for FY2018 (FY2017: 20.6%). The reason of stable operating profitability is similar portion of operating expenses. However, as non-operating profitability turned into profit-making area for FY2018, overall net income margins improved to 18.6% in FY2018 compared to 15.3% in FY2017. [Net Income FY2016: KRW 4,342 Mil., FY2017: KRW 4,961 Mil., FY2018: KRW 7,840 Mil.] Its financial stability was lowered in FY2018 due to increased total liabilities including accrued expenses, etc. despite of the increase in total stockholders' equity caused by internal reserve of net profit. Its index recorded higher level than peer group's average. [Debt to equity ratio: 20.8% in FY2017, 24.8% in FY2018] [Stockholders' Equity to Total Assets: 82.8% in FY2017, 80.1% in FY2018] In FY2018, the subject maintained positive(+) cash generation from operating activities. It funded capital requirements related to investing activities including acquisition of financial assets, etc. and financing activities including cash dividends, etc. by cash inflow through the generated by the operating activities. And its cash reserves increased from KRW 5,017 Mil. at the beginning of the year to KRW 6,895 Mil. at the ending of the year for FY2018. The subject's brief financial summary until the first half of FY2019 is as follows:[KRW mil.] ======================================================================== Total Assets Net Worth Sales Operating Income Net Income ------------------------------------------------------------------------------------------------------------------------------- 59,013 45,920 28,848 8,351 7,275

======================================================================== From Jan. 2019 to Jun. 2019, the subject recorded the sales of KRW 28,848 mil. increased by 15.7% from the same period in FY2018. Its operating income to sales decreased from 32.2% in previous year to 28.9% as of Jun. 2019. Its net income to sales also increased from 27.3% to 25.2%.

Not available

FINANCIAL ANALYSIS

Industry Highlights

The company maintains relationship(s) with the following bank(s) in Korea:

Shinhan Bank Ahyeon Branch

Borrowings

As of Jun. 30, 2019 (Unit: KRW, mil.)

Creditor Short Term Long Term Discounted Notes

Remark Limit Balance

None

As of Sep. 09, 2019 (Unit: KRW, mil.)

Subject Company Date of Event Not Reported Initial Date Dissolution Date No. of Note No. of Institutes Total Amount The Reason of detrimental information Principal Date of Event Not Reported Initial Date Dissolution Date No. of Note No. of Institutes Total Amount The Reason of detrimental information

Note: Detrimental Information is sourced from National Information & Credit Evaluation (NICE) Ltd. which is an authorized Credit Bureau in Korea with more than 160 financial and non-financial institutions such as banks, credit card companies, capital, leasing, factoring, distribution companies and many others including Federation of Banks, contributing their data into NICE Credit Bureau. NICE collates various kinds of negative information such as bankruptcy, payment delinquency, etc. Date of Event: The date which major detrimental information occurred Initial Date: The date in which such relevant financial organization as banks, and credit card companies provided the

negative information with NICE, an authorized CB(Credit Bureau) in Korea

Bank

Detrimental Information

Dissolution Date: The date of detrimental information dissolved No. of Note: Total number of negative credit event No. of Institutes: Total number of financial organizations such as banks, credit card companies which disclosed

detrimental information Total Amount: The sum of Arrears, Subrogation, Substitute Payment, and etc The Reason of detrimental information: Description of detrimental information

Registration Date : Oct. 12, 2002 Corporate Registration No. : 1101112629347 Business Registration No. : 1078624874 Registered Capital : KRW 7,700 mil. Net Worth : KRW 40,955 mil. Business Start Year : 2002 Legal Status : Corporation - KOSDAQ Listed

Other key event Oct. 2002 : Established as the name of SAMPLE Korea Co., Ltd. Oct. 2002 : Relocated from 60, Yeouido-dong, Yeongdeungpo-gu, Seoul to 14-33, Yeouido-

dong, Yeongdeungpo-gu, Seoul. Jan. 2003 : Relocated from 14-33, Yeouido-dong, Yeongdeungpo-gu, Seoul to 686, Ahyeon-

dong, Mapo-gu, Seoul. Mar. Dec. Dec.

2008 2011 2011

: Renamed to SAMPLE Co., Ltd. : Increased its capital to KRW 7,700 Mil. : Listed on KOSDAQ.

Jan. Sep. Mar. Jan. .

2014 2015 2016 2017

: Due to the implementation of new address system based on road name address, its head office address was changed from 686, Ahyeon-dong, Mapo-gu, Seoul to 217, Mapo-daero, Mapo-gu, Seoul. It is only change in expression by new address system but not change in physical location.

: Acquired the 60% of the shares of Sample Data Ltd.(Duns No.: 63-114-4128) : Inaugurated Rho,Young Whun as the president. : Obtained perimission of Tech Credit Bureau.

Shareholders’ List As of Jun. 30, 2019

Name of SH No. of Shares Ratio(%) Amount(KRW mil.) Relation with Majority SH

NICE Holdings Co., Ltd. 5,385,000 34.97 2,693 Majority Shareholder Phillip Capital Pte Ltd. 4,099,990 26.62 2,050 - Tokyo Shoko Research, Ltd. 1,450,000 9.42 725 - Others 4,465,010 28.99 2,232 - Total 15,400,000 100.00 7,700

History

Details of director(s) are listed as follows: Name(ENG) : Roh, Young Whun Gender : Male Date of Birth : Nov. 25, 1961 Title : President Education Level : Master's degree from Korea University Started with Subject : 2016 Activity Status : Active in subject's day-to-day operation Area of Responsibility : Overall Management Employment History Period Company Employed Last Position Held 1984-1988 Andong Accounting Corporation - 1988-2000 2000-2009 2010-2012 2013-2016 2016-present

Korea Investors Service, Inc. NICE Information Service Co., Ltd. Nice E-Banking Services Co.,Ltd. KIS Information & Communications Co., Ltd. SAMPLE Co., Ltd.

- Director of CB Director of Channel President President

Subject is engaged in Company Credit Investigation Service 100% Major brands includes : N/A Products / Services Domestic Credit Evaluation Report(CLIP, TCB) Overseas Credit Evaluation Report(BIR) Customer & Supplier Management Service

61.7% 30.4% 7.9%

Production Capacity and Actual Output [FY2018] Product Capacity Not Applicable

Actual Output Not Applicable

PURCHASE TERRITORY Local : Not Available International : Not Available Import from : USA, Japan, etc. PURCHASING TERMS Contra Basis MAJOR SUPPLIERS Name Product(s)/Service(s)

bought (%)

Principals

Operation

D&B NICE Infra Co., Ltd. D&B HongKong Ltd. EK Man Power Co., Ltd. NICE Information Service Co., Ltd.

Company Credit Investigation Service Lease, etc. Company Credit Investigation Service Outsourcing, etc. Lease, Charges, etc.

SALES TERRITORY Local : 91.9% International : 8.1% Export to : Worldwide Export Volume (2018) : KRW 3,432 Mil. Export Volume (2017) : KRW 3,520 Mil. SELLING TERMS Cash, Contract Basis, etc. MAJOR CUSTOMERS Name Product(s)/Service(s) sold

(%) Korea Trade Insurance Corporation Korea International Trade Association Small & Medium Business Corporation POSCO International Corporation Industrial Bank of Korea

Company Credit Investigation Service Company Credit Investigation Service Company Credit Investigation Service Company Credit Investigation Service Company Credit Investigation Service

TOTAL EMPLOYEES 298 (Total) (As of Jun. 30, 2019)

Staff Breakdown Director 15 Other 283

1. Company Profile NICE D&B Co., Ltd. was established on the purposes of company credit investigation service as the name of D&B Korea Co., Ltd. in Oct, 2002, and renamed to NICE D&B Co., Ltd. on Mar, 2008. It listed its stocks on KOSDAQ in Dec., 2011. The subject is a KOSDAQ listed company with total asset of KRW 51,102 mil. as of Dec., 31, 2018, annual sales of KRW 42,167 mil. in FY2018 and 298 employees as of Jun. 30, 2019. 2. Management

Roh, Young Whun, president, was born in 1961 and acquired master degree from from Korea University. He had worked for KIS Information & Communications Co., Ltd. as a president from 2013 to 2016, etc. Afterwrds, he has been responsible overall management since he inaugurated the president of the subject in 2016.

As of Jun. 2019, its paid-up capital is KRW 7,700 mil. and SAMPLE Holdings Co., Ltd. holds 34.97% of whole shares.

3. Operations

The subject is engaged in company credit investigation service. and located at 217, Mapo-daero, Mapo-gu, Seoul. It is mainly responsible for providing global corporate credit information and corporate information that can be used for commerce. On the basis of total sales of FY2018, domestic credit evaluation report(CLIP, TCB) sales of the company is 61.7%, overseas credit evaluation report(BIR) 30.4%, and customer & supplier management service 7.9%.

The main customers of global corporate information services are large corporates, overseas trading companies, etc. At the request of customers' corporate information, it provides electronically documented reports online, or provides services to view information after registering on the website dedicated to the service.

The main customers of credit authentication services are large corporations, B2B trading companies, and public tender application companies. It provides services by conducting due diligence on companies that have applied for credit ratings. It creates assessment reports including credit ratings and provides electronically documented reports online, or publishes them on information websites.

Ultimate Parent D-U-N-S : None Name : Address Phone

: :

Parent Company D-U-N-S : None Name : Address : Country : Phone : % Share Hold :

Operation Analysis

Linkage

Affiliated Companies D-U-N-S : 63-114-4128 Name : SAMPLE Data & Research Inc. Address : 36, Chungjeong-ro, Seodaemun-gu, Seoul. Phone 822-21224751 Capital KRW 4,545 Mil. Relationship with subject : 100% of shares owned by the subject Started : 2008 D-U-N-S : 68-783-0406 Name : SAMPLE Holdings Co., Ltd. Address : 17, Eunhaeng-ro, Yeongdeungpo-gu, Seoul. Phone 822-21224000 Capital KRW 18,941 Mil. Relationship with subject : 34.97% of shares held in the subject Started : 1986 D-U-N-S : 62-830-1624 Name : Phillip Capital Pte Ltd. Address : 250 North Bridge Road, Singapore Phone N/A Capital N/A Relationship with subject : 26.62% of shares held in the subject Started : N/A D-U-N-S : 69-062-0307 Name : Tokyo Shoko Research, Ltd. Address : 1-3-1, Otemachi, Japan Phone N/A Capital N/A Relationship with subject : 9.42% of shares held in the subject Started : N/A Branches Address : None Phone : Nature of Business :

CLIP Analysis Definition

Classification Rating Description Est. Rate of Failure

SUPERIOR

AAA Highest level of credibility for short-term business. Superior level of credibility which can correspond to any changes in circumstance within the rational estimation that can be made at current status.

0.00%

AA Very high level of credibility for short-term business. May correspond to changes in circumstances that could be assumed.

0.82%

A High level of credibility for short-term business. However, has limited ability in corresponding to presumable changes in circumstances.

1.35%

USUAL

BBB Adequate level of credibility for short-term business. However, possessed with relatively negative factors in business stability for the future.

2.92%

BB Moderate level of credibility for short-term business. However, possessed with relatively negative factors in business stability for the future.

4.06%

B May be acknowledged for short-term credibility. However, possessed with possibility of reimbursement guarantee degraded in case of environmental change.

5.12%

WATCHFUL CCC

Very limited credibility at present and presumed to degrade long-term business stability. Called to attention.

6.29%

CC Has possibility of default. Business stability is very low compared to above classes. 7.57%

RISK C

High possibility of default. Low possibility of recovery in the future. The level of which reimbursement ability is doubted.

11.84%

D The subject defaulted or is facing impending default. Credit should be denied. Over 68.46%

NO GRADE NG No Grade: Reservation of judgment due to lack of information, decline of credit evaluation, cessation of business, suspend business and others.

Features of CLIP Evaluation System CLIP Evaluation System is a credibility evaluation system with high accuracy developed with diverse evaluation and statistical information of National Information & Credit Evaluation, Inc. (NICE), the biggest credibility evaluation company and specialist in RISK MANAGEMENT SYSTEM field of Korea. 1. CLIP Non-Financial Evaluation System reflects evaluations of credibility evaluator about production competitiveness, marketing competitiveness, management capability, etc according to the types of standard industry category. 2. CLIP Financial Evaluation System is “an Evaluation System following financial statement” provided by our company, which provided credibility evaluation information for long time. 3. CLIP Analysis combines non-financial evaluation system, financial evaluation system as well as our experienced Business Analysts’ subjectivity which assess all circumstances surrounding the subject. 4. Estimated rate of failure is generated from very high level of accuracy using a failure forecasting system applied to the subjects.

Appendix

Definition of CRI Rating

Status Rating Description

SUPERIOR

A1 Highest level of credibility for short-term business. Superior level of credibility which can correspond to any changes in circumstance within the rational estimation that can be made at current status.

A2 Very high level of credibility for short-term business. May correspond to changes in circumstances that could be assumed.

A3 High level of credibility for short-term business. However, has limited ability in corresponding to presumable changes in circumstances.

USUAL

B1 Adequate level of credibility for short-term business. However, possessed with relatively negative factors in business stability for the future.

B2 Moderate level of credibility for short-term business. However, possessed with relatively negative factors in business stability for the future.

B3 May be acknowledged for short-term credibility. However, possessed with possibility of reimbursement guarantee degraded in case of environmental change.

WATCHFUL C1 Very limited credibility at present and presumed to degrade long-term business stability. Called to attention.

C2 Has possibility of default. Business stability is very low compared to above classes.

RISK C3

High possibility of default. Low possibility of recovery in the future. The level of which reimbursement ability is doubted.

D The subject defaulted or is facing impending default. Credit should be denied.

NO GRADE NG No Grade: The lack of information caused by decline of credit evaluation

Features of CRI Evaluation System CRI (Credit Risk Index) is an automated model of corporation credibility system developed by Nice D&B Co., Ltd., the commercial credit bureau.

1. CRI is an estimated rating model with multiple variables and information on the base of Business Registry number. 2. CRI is keeping up to date with latest financial/non-financial information covered from Conglomerate to proprietorship by estimating credit level respectively. 3. CRI is composed of 10 grade system. 4. CRI provides the lowest limitation of automated rating model.

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