The investment department engages in administering the local areas as well as overseas affiliates and corporations and exploring new profitable businesses. It has played a vital role in exploring and fostering the best local Internet venture industries.

Not content with past success, the Investment Department is doing its best to develop promising businesses with an open mind that gives efficient top priority.

In February 1999, THE WILLBES & CO., LTD. Incorporated KTB Securities, as a member of the Willbes Group through its purchase of equity shares of Korean Government

In February 2001, the Willbes Group realized capital gains of more than KRW 150billion (approx. USD 125Million) through its equity divestment of Internet Auction CO., LTD. (the largest online auction company in Korea) to eBay Inc., one of the largest online trading companies in the world.

THE WILLBES & CO., LTD. Once again impressed local M&A enterprises by completing a merger between Wowbook, one of its affiliates, and Yes24 in May 2002. As an unprecedented event, the merger made great splash in the market once again after the divestment of Auction. Through its merger with an allied industry, Yes24, ranked first in Korea, Wowbook has become the largest Internet bookstore in Korea with its potential to create maximum synergy effects including cost reduction in delivery and storage, increase in the number of members through efficient management.

We sold the internet tower, located in Daechi-dong, Seoul, to Carlyle group which is an American global investment company at 69 billion won in August, 2003 because we worried about decreasing rent revenue and the value of building after venture bubble. It is one of the most successful deals that we ever have had in financial restructuring area to secure liquidity and refund bank debts. The company has enjoyed superior capital gains through its highly successful investment strategy that concentrates its investments on top-tier and leading companies in their respective industry.