HOMENEWSPress Release Subject COWON to enter the solar energy business Date 2010.02.11 Seoul, February 11, 2010 – COWON SYSTEM (President Park, Nam Gyu, www.cowon.com) announced that it would establish COWON FIS collaborating with FIS (President Lee Min Seok, www.fis-s.co.kr) and enter the business of solar energy and LED equipments. FIS, COWON’s partner, is a mid-firm that focuses on solar energy machinery such as INGOT-GROWER and slim rods for polycrystal silicone. INGOT-GROWER produces silicone ingot (which smelts and grows polycrystal silicone) for solar cells. COWON will participate in this business by holding over 50% stakes of COWON FIS that is expected to be established this year. INGOT-GROWER, one of the key products of COWON FIS, is the sophisticated device that grows ingots for solar cells. When you smelt polycrystal silicone as raw materials, using the INGOT-GROWER, produce ingots, cut them into thin slices and make them into cells through the wafer process, you will get solar cells that produce electricity. COWON estimates the sales of COWON FIS of this year to be about 30 billion won. The main reason that COWON established this venture is that they think highly of high potential growth on solar energy machinery and FIS’ excellent technology competitiveness. According to Bharatbook, a renowned research center, the solar energy is a high-growth business in that its market is estimated to be 7.2 billion won in 2010 and 72 billion won in 2020. In case of the domestic market, particularly, this business is attracting a lot of attention as high value-added industry and the market for parts and elements such as solar cells and ingots is growing rapidly. So it is expected that the demand of their devices will be on sharp increase. In addition, FIS holds the technology to design and produce the devices for solar cells such as INGOT-GROWER and it has high competition over foreign companies in the quality and prices for its products. So COWON FIS is expected to be the outpost of new growth engines of COWON as much as the solar energy industry develops in the future. President Park said, “We established COWON FIS as one of our business strategies to develop our growth engines for future. We focus on the business of digital devices and contents and keep finding new growth businesses for next generation based on our business know-how and brand reliability. This way, we will continue developing our businesses profitably.” On the other hand, COWON plans to expand its businesses to sapphire ingots for LED including solar energy by diversifying INGOT-GROWER devices and to grow COWON FIS as a leading company of ingot elements and devices.