DOC No.

PQ21-01
Updated No. 6
DATE 2021.02.03

PRE­QUALIFICATION
STATEMENT

STEEL PIPE MANUFACTURER IN KOREA

LSAW, SSAW, COATING, FITTING & SPOOL
WWW.WELTECH3LP.CO.KR
CONTENTS

1. Company Profile 1

2. Mill Capacity 6

3. Production Range 7

4. Applications 8

5. Product Detail 9

6. Manufacturing Facilities 12

7. Test Equipment 13

8. Manufacturing Process 14

9. Inspection & Test Plan 19

10. Major Reference 24

11. Company Registration 26

12. Balance Sheets 27

13. Certificates 29

14. Vendor Approvals 41

15. Pictures 47
1. COMPANY PROFILE

󰋭 Brief History
Feb. 1997 Established Hyundai special steel pipe Co.,Ltd.
Oct. 1999 Approved NT mark : Automatic welding method for pipe fitting & Apparatus
Mar. 2000 Approved ‘certificate of excellent quality product’ by government
May. 2000 Awarded the Prize of Prime Minister For an Excellent Venture businessman

Jun. 2002 Nominated New technology ‘3-Layer coating method & Apparatus for steel
pipe & fittings’
Jan. 2003 “ISO9001” Approved
Feb. 2004 Establishment of the affiliated laboratory
Nov. 2004 Appointed Construction New method (No. 438)
Mar. 2005 Obtained Construction Industry license
Approved of the efficiency of 3-Layer coating method & Apparatus For steel
Sep. 2005 pipe & fittings by powder fusion by government
Oct. 2005 Certified Parts & Material business specializing company by government
Mar. 2006 Changed business name to Weltech
Approved Technological innovation type of Small and medium business by
Aug. 2006 government
May. 2007 Approved of the efficiency of 3LP ceramic coated steel pipe by government

Mar. 2008 Approved of the efficiency of 3layer polyethylene coated steel pipe by silver
nano epoxy
Selected Excellent product (No.2008250, supply Administration) : 3layer
Mar. 2009 polyethylene coated steel pipe by silver nano epoxy
Aug. 2009 Established 2nd Plant (Subsidiary “Hyundai special steel pipe Co.,Ltd.”)
Oct. 2010 Approved Korean industrial Standard : KS F 4602
Dec. 2010 Approved Korean industrial Standard : KS F 4602
Dec. 2010 Established the spiral welded steel pipe manufacturing factory

July. 2012 Selected Excellent product by government : 3layer polyethylene coated steel
pipe by hybrid
Aug. 2012 Plant Expanded (108-Dong) Spool Piping Fabrication Plant
Aug. 2014 Selected Excellent product by government : Feramic Coated Steel Pile
Nov. 2014 Established 3rd Plant (Subsidiary “Seongun General Steel Pipe Co.,Ltd.”)
New technology certified by the Minister of Environment: Rehabilitation Tech.
Feb. 2016 (RIR Technology
Feb. 2016 “ASME” Approved
Apr. 2016 “ISO14001” Approved
th
Mar. 2016 Established 4 Plant (Subsidiary “Hyundai steel pipe Co.,Ltd.”)
Dec. 2016 “API 5L” Approved
Nov. 2018 “ISO45001” Approved
Dec. 2018 CE Certificate on “Auto Welding System”
Dec. 2018 CE Certificate on “Internal Line-Up Clamp”

1
1. COMPANY PROFILE

󰋭 Company Address
󰋮 Seoul Office
ADDRESS: D-908, IT Valley, Indukwon, Poildong, 40, Imi-ro, Uiwang-si, Gyeonggi-do, Korea
TEL: +82 2 783 5470

󰋮 1st Plant
ADDRESS: 755, Hanu-ro, Hoengseong-eup, Hoengseong-gun, Gangwon-do, Korea
TEL: +82 33 342 6224

󰋮 2nd Plant
ADDRESS: 235, Sanghaga-ro, Uchun-myeon, Hoengseong-gun, Kangwon-do, Korea
TEL: +82 33 343 0560

󰋮 3rd Plant
ADDRESS: 56-33, Songdu 4GilJincheoneup, Jincheongun, Chungcheongbukdo, Korea
TEL: +82 43 535 5900

󰋮 4th Plant
ADDRESS: 38-20, Ucheonsaneopdanji-ro, Ucheon-myeon, Hoengseong-gun,
Gangwon-do, Korea
TEL: +82 33 345 8602

1st & 2nd

FACTORY
SEOUL OFFICE

4th FACTORY
3rd FACTORY & SUPPLY CENTER

2
1. COMPANY PROFILE

󰋭Plant Size

1st Plant : 109,998 ㎡

2nd Plant : 32,499 ㎡
rd
3 Plant : 28,143 ㎡
4th Plant : 31,700 ㎡

󰋭Name of Company : WELTECH CO., LTD.

󰋭Established : 21th February, 1997

󰋭Capital : $ 3,273,930

󰋭Sales Record :
- 2019 : USD 63,000,000
- 2018 : USD 70,000,000
- 2017 : USD 64,070,796
- 2016 : USD 46,551,724
- 2015 : USD 59,050,170

󰋭Board of Directors
Position Name Phone Email

Chair Man : Seong-Sik Lee 82-31-476-3485 wt-plant@weltech3lp.co.kr

Head Of The Board : Seong-Sik Lee 82-31-476-3485 wt-plant@weltech3lp.co.kr

Sale Manager ; Jae-il Kim 82-31-476-9621 wt-plant@weltech3lp.co.kr

Engineering Manager ; Il-hyun Jeong 82-33 342 6224 hdsspc1@daum.net

Quality Manager : Sung-goo Han 82-33 342 6224 hdsspc1@daum.net

President : SeoK-cheol Yoon 82-31-476-3483 wt-plant@weltech3lp.co.kr

Plant Manager : Il-hyun Jeong 82-33 342 6224 hdsspc1@daum.net

3
1. COMPANY PROFILE

󰋭Organization DOMESTIC
SALES
PLANT
SALES DIVISION SALES
OVERSEAS
BUSINESS

MANAGEMENT
DIVISION ACCOUNT

GENERAL
SEOUL OFFICE ADMINISTRATION

R&D

DOMESTIC
SALES
CONSTRUCTION
DIVISION CONSTRUCTION
SENIOR VICE
PRESIDENT PRESIDENT CONSTRUCTION
MANAGEMENT

QUALITY
ASSURANCE

#1 FACTORY PRODUCTION
PRODUCTION
MANAGEMENT
GENERAL
ADMINISTRATION

PRODUCTION
#2 FACTORY PRODUCTION MANAGEMENT

#3 FACTORY PRODUCTION
PRODUCTION
MANAGEMENT

#4 FACTORY PRODUCTION
PRODUCTION
MANAGEMENT

Joint Ventured SALES PRODUCTION

Factory in China MANAGEMENT MANAGEMENT

4
1. COMPANY PROFILE

󰋭PERSONAL STATUS
Director : 13
Administrators : 32 - Domestic Sales(15), Overseas Sales(15), R&D(2)
Engineers : 38 - Q.C(8), Production Admin(7), Equipment(4), Construction(7), Others(12)
Technicians : 56 - Welding(30), Coating(10), Repair(6), Shipment(5)
Others : 1
Total : 140 Persons

󰋭Bank Reference
<Industrial Bank of Korea>
Address: (2F, Daerim Acrotower Bldg.) 230, Simin-daero,
Dongan-gu, Anyang-si, Gyeonggi-do, 431-060
Tel : +82 31 478 7802
Fax : +82 31 383 0648

󰋭Subsidiaries
1. Hyundai Special Steel Pipe :
- Address : Factory : 235, Sanghaga-ro, Uchun-myeon, Hoengseong-gun, Kangwon-do, Korea
Head office : D-908, IT Valley, Indukwon, Poildong, 40, Imi-ro, Uiwang-si, Gyeonggi-do, Korea
- Tel : +82 31 476 9626
- Fax : +82 31 436 8590
2. Seongun General Steel Pipe
- Address : 56-33, Songdu 4GilJincheoneup, Jincheongun, Chungcheongbukdo, Korea
- Tel : +82 43 535 5900
- Fax : +82 43 535 5902
3. Hyundai Steel Pipe :
- Address : 38-20, Ucheonsaneopdanji-ro, Ucheon-myeon, Hoengseong-gun, Gangwon-do, Korea
- Tel : +82 33-345-8602
- Fax : +82 33-345-8603

󰋭Affiliates (Joint Venture)

1. China : Tianjin Zhongshun Weltech Hi tech Coating Steel pipe Co.,Ltd.
- Address : Guankeng Village, Daqiuzhuang Town, Jinghai County, Tianjin, China.
- Tel : +86 22 6811 7088
- Fax : +86 22 6811 7099
2. Saudi Arabia: Al-Rashid Weltech Company Ltd.
- Address : Saudi Dammam Industrial Complex
- TEL: +82 31 478 8237 (Internet Phone)

5
2. MILL CAPACITY

○ Product Detail in Korean Factory.

LSAW SSAW FITTING

COATING & SPOOL
(Roll Bending) (Spiral)
(Fabrication)

Annual Max. 100,000 MT Max. 100,000 MT Max. 60,000 MT Max. 60,000 MT

Capacity

Out
Diameter 28“ ~ 140” 20“ ~ 80” 8“ ~ 140” 8“ ~ 140”
(Inch)

Wall
Thickness Max 38 Max 22 Max 38
(mm)

Length 6M 12M 12M 12M

- Miter Tee, Elbow,

Standard Pipe -Internal - Reducer,Flange,Cap
Pressure Pipe Piling : FBE, Liquid Epoxy - Expansion Joint
Remark Coal Pipe Structural Pipe - Belows Flexible Joint
Cooling Water Pipe Water Service -External - All kinds of fabrication
: FBE, 3LPE according to client’s
Water Service
drawing.

6
3. PRODUCTION RANGE

󰋭LSAW (Longitudinal Submerged Arc Welded pipe)

Out Thickness (mm)
Diameter
N.D Inch 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 30 32 34 38
700 28
750 30
800 32
850 34
900 36
1000 40
1100 44
1200 48
1350 54
1500 60
1600 64
1800 72
2000 80
2200 88
2400 96
2600 104
2800 112
3000 120
3100 124
3200 128
3300 132
3400 136
3500 140

󰋭SSAW (Sprial Submerged Arc Welded pipe)

Out
Diameter Thickness (mm)
N.D Inch 6 7 10 12 14 16 18 20 22
500 20
600 24
700 28
800 32
900 36
1000 40
1100 44
1200 48
1350 54
1500 60
1600 64
1650 66
1800 72
1900 76
2000 80

7
4. APPLICATION

PIPE
PRODUCT STANDARD
CATEGORY

Standard Pipe ASTM A134

Low Pressure
Pressure Pipe ASTM A671
LSAW Conveyance KS D 3583
Coal Pipe ASTM A672
(Roll Bending) High Pressure KS D 3566
Cooling water pipe AWWA C200
Conveyance
Water service API 5L X70
SAW

Piling ASTM A252

SSAW Steel Pile, Pillar KS F 4602
Structural Pipe ASTM A500
(Spiral) Construction KS D 3583
Water service AWWA C200

Coating 3LP Water service Agricultural & KS D 3589

AWWA C210
(Powder industrial water KS D 3565
AWWA C213
type) FBE Water service underground water KS D 8502

Coated Water Service

Miter Bends Pipe Fittings
steel & waste Water
T & Y bends, (Water works,
pipes Agricultural & Industrial
Elbows, Drainage system, AWWA C208 KS D 3578
Fittings Water
Reducers, Agricultural &
and Gas & Oil Pipe
with Flanges Industrial and Plant
Spool underground water

※ EN, ISO, AWWA, ANSI, DIN and so on,

· KS - Korean Industrial Standard

· ISO – International Standard Organization
· AWWA - American Water Works Association
· ASTM - Amerian Society for Testing & Material Standard
· EN - European Standards
· ASME - American Society of Mechanical Engineering
· ANSI - American National Standards Institute
· DIN - Deutsche Industric Normen

8
5. PRODUCT DETAILS

○ LONGITUDINAL PIPE (LSAW)

󰋮 FACILITY
· Three Roll-Bending M/C

󰋮 PRODUCTION CAPACITY
#1 Heongseong Factory
· Length – Max 6M
· Thickness – Max 38mm
· O.D – Max 3500mm (140“)

󰋮 USAGE
· Bare steel pipe for coated steel pipes for water works (KS D 3565)
· Bare steel pipe for coated steel pipes for water services (KS D 3626)
· Arc welded carbon steel pipe (KS D 3583)
· Carbon steel tubes for general structural purposes (KS D 3566)
· Steel pipe for gas & Oil country tubular goods(API)
· Steel pipe for ordinary piping(ASTM)
· Pipe pile(KS F 4602)
· Propeled steel pipe
· Steel pipe for Draw sea water for power plant, Propulsion, underground

󰋮 MANUFACTURING SPECIFICATION AND MATERIAL

# Specification of Pipes
· ASTM A671/A672 etc
· KS D 3565, 3626, 3583, 3566, 4602
· Other ASME, EN, DIN, ISO, AWWA, ANSI etc

9
5. PRODUCT DETAILS

○ SPIRAL PIPE (SSAW)

󰋮 FACILITY
· Spiral M/C

󰋮 PRODUCTION CAPACITY
#1 Heongseong Factory
· Length – Max 18M
· Thickness – Max 20mm
· O.D – Max 2000mm (80“)

󰋮 USAGE
· Pipe pile(KS F 4602)
· Carbon steel tubes for general structural purposes (KS D 3566)
· Arc welded carbon steel pipe (KS D 3583)
· Propeled steel pipe
· Bare steel pipe for coated steel pipes for water works (KS D 3565)
· Bare steel pipe for coated steel pipes for water services (KS D 3626)

󰋮 MANUFACTURING SPECIFICATION AND MATERIAL

# Specification of Pipes
· ASTM A671/A672 etc
· KS F 4602, KS D 3566, 3583, 3565, 3626
· Other ASME, EN, DIN, ISO, AWWA, ANSI etc

10
5. PRODUCT DETAILS

○ COATINGS

󰋮 FACILITY
· Internal & External

󰋮 PRODUCTION CAPACITY
#1 & #2 & #3 Heongseong & Saudi Factories
· Length – Max 18M
· Thickness – Max 38mm
· External & Internal – Max 3500mm (140“)
· COATING for PIPES

󰋮 USAGE
· 3Layer PE(Polyethylen) Coating
· FBE (Fusion Bonded Epoxy) Coating)
· Liquid Epoxy Coating

○ FABRICATION OF SPOOLS and FITTINGS

󰋮 PRODUCTION CAPACITY (SPOOL & FITTING)

#1 & #2 Heongseong Factories
· Length – Max 18M
· Thickness – Max 38mm
· In & External – Max 3500mm (140“)
· COATING for PIPES, FITTINGS AND SPOOLS

󰋮 USAGE (SPOOL)
· Save the time for Pipe installment on site.
· Save the expenses for welding on site.
· All kinds of fabrication according to client’s drawing

󰋮 USAGE (FITTING)
· MITER BEND TYPE Fitting
· Miter Tee, Elbow, Reducer, Flange, Cap, Expansion Joint, Belows Flexible Joint
· All kinds of fabrication according to client’s drawing

11
5. PRODUCT DETAILS

○ PIPING MATERIALS (Trading)

Product Supplier Size

CTA, Bestar , Vanleeuwen,

Seamless steel
(Tenaris, V&M, Voest Alpine,
pipe(Carbon, STS, Alloy) ~ 720
TPCO, Tubacex etc),
Hengyang, PSST, NSSMC.

ERW steel pipe ERW

CTA, Vanleeuwen, Bestar
(Carbon, STS, ALLOY) ~ 609.6,
(Tenaris,V&M, TPCO,Tubacex
& Welded steel pipe Carbon
etc), CTA, Miju, TTPCO, MCC,
(Carbon, STS, Alloy) Steel
Shungjie steel, PCK etc
~ 3,500

SHANDONG,
BEITAI, SYI, Indipco,
Ductile iron
Sadip Electrotherm, ~ 104"
pipes and Fittings
Angang yongtong, Xingfen,
ElectroSteel

Risong, Esen Plastik, Hakan,

HDPE pipe & fitings ~ 48"
Lida plastic , Yilbor etc

Steel fittings ZIBO WEL-FIT, CTA,

~ 66"
(Carbon, STS, alloy) CHANG-HAI, Tectubi(Tianjin) etc

Butterfly, Ball valve Korean Valve Manufacturer ~ 100"

12
6. MANUFACTURING EQUIPMENT
INSTALLATION
MILLS FACILITY AUTHORIZED CAPACITY Q‘TY MANUFACTURER DATE
(YY.MM.DD)

Blasting M/C 50HP 2 Weltech 09.08.28

Heating Furnace
L11000 × W4000 × H5300 1 Weltech 09.08.28
(Heating Chamber)
FBE Spraying
Φ3000 1 Weltech 09.08.28
Machine

Adhesives Spread Facility Φ3000 1 Weltech 09.08.28

PE Coating
Φ3000 1 Weltech 09.08.28
Facility
Torch Lamp
20kg 2 Weltech 09.08.28
(Post Heat Treatment Facility)
Pipe End Coating
Φ100 ～ Φ250 8 Weltech 09.08.28
Process Facility
Sungwon
Polyurea Spraying Facility Φ3000 1 11.07.15
Egn.

Cutting Facility L9000 × W4300 × H630 4 Hansung Ind. 06.07.01

Roll
Sizing Facility 1 Φ700 ~ Φ1100 1 Weltech 08.06.31
Bending
Hyundai
Sizing Facility 2 Φ700 ~ Φ3500 1 06.10.01
Special Steel

Bevel M/C Φ700 ~ Φ1500 1 Weltech 08.08.18

ROLL Type Bell Hyundai

Φ600 ~ Φ3500 1 01.10.15
mo(u)lding Machine Special Steel
Forcibly insert type Bell Hyundai
Φ150 ~ Φ1500 1 04.05.01
mo(u)dling Machine Special Steel
Joil
Bending Machine Φ600 ~ Φ1800 / 2500 Ton 1 06.07.01
Machinery
3 Roll Bending
Φ600 ~ Φ3500 1 Japan 06.07.01
Machine

Gouging Machine Φ8 ~ Φ10 3 Daesin Eng. 07.05.30

External Welding Daehong

Φ700 ~ Φ3500 2 10.09.04
Machine Mechatronics
Internal Welding Daehong
Φ700 ~ Φ3500 4 10.09.04
Machine Mechatronics

SPIRAL FORMING M/C Φ400 ~ Φ2000 1 Sanshi 11.02.28

PIPE CUTTING M/C Φ400 ~ Φ2000 1 Weltech 11.02.28

REPAIR WELLDING MACHINE Φ400 ~ Φ2000 1 Weltech 11.02.28

REPAIR WELLDING MACHINE Φ400 ~ Φ2000 1 Weltech 11.02.28

SPIRAL
PAD RING WELDING MACHINE Φ400 ~ Φ2000 1 Weltech 11.02.28

BEBEL MACHINE Φ400 ~ Φ1000 1 Weltech 11.02.28

BELL MACHINE Φ400 ~ Φ3000 1 Weltech 11.02.28

CONVEYOR & SID DEVICE Φ400 ~ Φ3000 1 Weltech 11.02.28

13
7. TESTING EQUIPMENT
Date of
INSTALLATION
AUTHORIZED Calibration
No. FACILITY Q‘TY MANUFACTURER DATE
CAPACITY (YYYY.MM) Institution

Chemical Analysis
1 Mill Test Certificate from material supplier
Test Machine

Universal Metal 2015.04.16

2 980 KN / 0.098KN 1 C&T 2006.09
Material Test Equipment KRCMI

Polyethylene Test
Equipment
3
(Density, Melt index,
pigment, check) Mill Test Certificate from material supplier

Hydraulic pressure
4
Test Equipment

Coating Thickness 2015.10.22

5 0～14mm / 0.005mm 1 ELCOMETER 1997.10
Measurement KRCMI

Pin Hole Test Machine 2015.10.16

6 30kv / 0.01kv 1 PCWI 2012.06
(Holiday Detector) KRCMI

Impact Resistance Daekyung 2015.05.14

7 2,500g 1 1998.01
Test Equipment Tech KRCMI

Test Equipment for Peel Daekyung 2015.05.14

8 15.7kg 1 1998.01
Resistance for Adhesives Tech KRCMI

Stress Cracking Daekyung 2015.05.01

9 0~150℃ / 2℃ 1 2003.01
Test Equipment Tech KRCMI

Tensile elongation at
2015.04.16
10 Break point Test 980 KN / 0.098KN 1 C&T 2006. 09
KRCMI
Machine

2015.10.22
11 Vernier Calipers 150mm / 0.05mm 1 MITUTOYO 2009.08
KRCMI

12 Tape measure 10M / 1mm 1 TAJIMA 2014.01 -

Surface Temperature 2015.04.29

13 -30～500℃ / 0.1℃ 1 FLUKE 2009.08
Thermometer KRCMI

Penetration Test 2015.10.22

14 0 ~ 10mm / 0.01mm 1 TC & TECH 2011.12
Equipment KRCMI

14
8. MANUFACTURING PROCESS - LSAW STEEL PIPE (ROLL BENDING PIPE)

▶ ▶ ▶ ▶

4.Auto SAW for plate

1.Plate incoming 2.Auto cutting 3.Joining plates join (Front side) 5.Gauging of plate back side

▶ ▶ ▶ ▶

6.Auto SAW for plate 10.Auto SAW

join (back side) 7.Edge Bending 8.Roll bending 9.TAG welding (External surface)

▶ ▶ ▶ ▶

11.Auto SAW 12.Sizing Machine For 13.N D T inspection 14.N D T inspection 15.Finished product
(Internal surface Pipe End & Beveling

15
8. MANUFACTURING PROCESS – SSAW STEEL PIPE

▶ ▶ ▶ ▶

1.Uncoiling & Leveling 2.Edge milling 3.Forming & Inside 4.Out side welding 5.Cutting & finishing
welding

▶ ▶ ▶ ▶

6.Expanding 7.Sizing Machine For Pipe 8.N D T inspection 9.N D T inspection 10.Finished products
End & Beveling

16
8. MANUFACTURING PROCESS – 3LPE COATING

▶ ▶ ▶ ▶

1.Shot blast (External) 2.Preheating 3.Powder coating with FBE 4.Powder coating with 5.Powder coating with
adhesive polyethylene

▶ ▶ ▶ ▶

6.Peeling coated film on 7.Cooling 8.Shot blast(Internal) 9.Internal coating with 10.External pinhole detection
end part epoxy

▶ ▶ ▶ ▶

11.External coating 12.Internal coating 13.Internal pinhole 14.Finished product

thickness measuring thickness measuring detection

17
8. MANUFACTURING PROCESS – FBE COATING

▶ ▶ ▶ ▶

1.Internal Pipe 2.Inspection for 3.External Pipe 4.Inspection for 5.PIPE HEATING
Preprocessing pre-processing Preprocessing pre-processing

▶ ▶ ▶ ▶

6.PIPE TEMP. 7.External Pipe FBE 8.Internal Pipe FBE 9.Visual Insepction 10.Visual Insepction
CHECK(230±20℃) Coating Coating

▶ ▶ ▶ ▶

11.COATING 12.COATING 13.PINHOLE TEST(1,950V) 14.PINHOLE TEST(1,950V) 15.ADHESION TEST

THICKNESS(350㎛ ↑) THICKNESS(350㎛ ↑)

18
8. MANUFACTURING PROCESS – FITTING (MITER TYPE)

▶ ▶ ▶ ▶

1.Cut fitting in angle 2.Tag welding 3.SAW welding 4.Flange welding 5.N D T inspection

▶ ▶ ▶ ▶

6.Shot blast 7.Heating 8.External coating with 9.FBE & Epoxy coating 10.Finished Product
polyethylene (Internal surface)

19
9. INSPECTION & TEST PLAN

○ PIPES
CHARACTERISTICS VERIFYING SCOPE OF INSPECTION Factory
No QUALITY RELATED ACTIVITY REFERENCE DOCUMENT ACCEPTANCE CRITERIA
TO BE VERIFIED DOCUMENT WEL EPC TPI CLIENT Location
- Chemical Composition
Incoming Inspection for API 5L Para9.2 - Chemical and Mechanical Factory
1 Plate Table4,6 Properties
- Mechanical Properties MTC W R R R
#1
- Heat , Plate No.
Edge Milling before - Bevel angle Factory
2 welding
WELTECH Standard
- Root Face
- According to WPS - W - - -
#1

WELTECH Standard - Welding Parameter - Kv, A Speed Factory

3 SAW Welding(Plate Outside)
API 5L Para8.6 - Reinforcement - Max.3.5mm
WPS W - - -
#1

Press Bending or Roll - Both edge gap Factory

4 Bending
WELTECH Standard
- Shape of bended plate
- Max.150mm No unshaped - W - - -
#1

Tack Welding of Longitudinal WELTECH Standard Factory

5 (SMAW) API 5L Para8.4
- Welding Parameter - Kv, ,A, Speed WPS W R R R
#1

WELTECH Standard - Welding Parameter - Kv, A Speed Factory

6 SAW Welding(Outside)
API 5L Para8.6 -.Reinforcement - Max.3.5mm
WPS W R R R
#1

WELTECH Standard - Welding Parameter - Kv, A Speed Factory

7 SAW Welding(Inside)
API 5L Para8.6 -Reinforcement - Max.3.5mm
WPS W R R R
#1

WELTECH Standard - Straightness - Max.0.2%Length Factory

8 Sizing
API 5L Para9.11.3 - Out of Roundness - Max.1.0%(O.D > 24”)
- W R S/W R
#1

- 30° +5°, -0° Factory

9 End Preparation API 5L Para9.12.5.2 - Bevel angle Root-Face
- 1.6±0.8mm
MTC W R R R
#1

- Pressure : 60% SMYS Holding - Test Pressure/Holding Time Factory

10 Hydrostatic Testing API 5L Para10.2.6
Time :10s - Pipe conditions
MTC W R S/W R
#1

NDT (1.U/T or 2. R/T)

1.100%weldmentU/T+200mme
ndsweldmentR/T
Factory
11 2.100%weldmentR/T API 5L ANNEX E - Welding conditions - API 5L ANNEX E NDE Report W R R R
#1
-.X-Raytestingoflongitudinalwel
ds(RealtimeimageoftheTVscree
ntype)

20
9. INSPECTION & TEST PLAN

CHARACTERISTICS VERIFYING SCOPE OF INSPECTION Factory

No QUALITY RELATED ACTIVITY REFERENCE DOCUMENT ACCEPTANCE CRITERIA
TO BE VERIFIED DOCUMENT WEL EPC TPI CLIENT Location

Weld Repair(By SMAW) if Factory

12 applicable
API 5L ANNEX D - Quality of Weld - Welding conditions WPS W R R R
#1

Factory
13 Re –NDT(Only Repaired pipe) API 5L ANNEX E - Welding conditions - API 5L ANNEX E NDE Report W R R R
#1

Post Weld Heat ASME B31.3 Table Factory

14 Treatment(PWHT) 331.1.1
- 595℃ to 650℃ W R S/W R
#1

- C- Max.0.26%, Cu- Max.0.5%

- Mn-Max.1.2%, Ni- Max.0.5%
API 5L Para9.2 ,Table - P- Max.0.03%,Cr- Max.0.5% Factory
15 Chemical Composition - Chemical composition MTC W R R R
4 - S-Max.0.03%,,Mo- Max.0.15% #1
- Nb + V ≤ 0.06%
- Nb + V + Ti ≤ 0.15%

- Tensile test - Appendix A Factory

16 Mechanical Requirements API 5L Para9.3, 9.7
- Guided Bend test - Table. A.1
MTC W R R R
#1

- ±3.0mm
- Outside diameter (ends)
- Max.1.0%(O.D > 24”)
- Out of Roundness
- Max.0.2%L Visual &
Final Visual and Dimension - Alignment (Straightness) Factory
17 Inspection
API 5L Para9.11
- Length
- 0, + 30mm Dimensional W S/W S/W R
#1
- ±10% W.T( 5mm<W.T< 15mm) Report
- Wall thickness
±1.5mm(W.T ≥ 15mm)
-. Reinforcement
- Max.3.5mm

- MANUFACTURER’S NAME
- CODE OR STANDARDS
- MATERIAL SPEC and GRADE
WELTECH Standard - STENCILE MARKING ON THE Factory
18 Production Marking - MANUFACTURING METHOD - W S/W S/W R
API 5L Para11.2 INSIDE SURFACE AT ONE END #1
- DIMENSION
- HEAT NO
- PIPE NO.

Legend.: M: Monitoring W: Witness R: Review H: Hold Point S/W: Spot witness

21
9. INSPECTION & TEST PLAN

○ COATING
SCOPE OF INSPECTION
CHARACTERISTICS VERIFYING Factory
No QUALITY RELATED ACTIVITY REFERENCE DOCUMENT ACCEPTANCE CRITERIA
TO BE VERIFIED DOCUMENT Location
WEL EPC TPI CLIENT

- Surface luminous intensity:

38~102㎛. Factory
1 Surface preparation AWWA C 213 4.4.2.2 - luminous intensity, Rust, Y W R R R
- No foreign mateiral #3
Foreign material removing, - No Humidity
- Cleaness check.
Factory
2 Visual Inspection AWWA C 213 4.4.2.3 - Equivalent to SSPC-SP-10 - W - - -
#3

Factory
3 Preheat - Surface Temperature MAX 260º Y W R R R
#3

Factory
4 Internal Coating (F.B.E) Min. 500㎛ - W R S/W R
#3

Factory
5 External Coating (F.B.E) Min. 500㎛ - W R S/W R
#3
AWWA C 213 4.4.3 Factory
6 Cooling - W R R R
#3

- Min. 500㎛
- Thickness - No delamination or separation
- Adhesive Power - No process, air bubble, flowing Factory
7 Coating Inspection Y W R S/W R
- Surface Inspection or contamination. #3
- Pinhole Test(NACE) - No spark while testing with
3,000V.

- No spred on marking by using

oil ink. Factory
8 Packing WELTECH STD. Y W R S/W R
- Enough to prevent damage from #3
- Identification Marking
external shocks.
- Damage protection
- Storing condition - Pipes : #3 Factory in Jincheon.
Factory
9 Transport & Storage WELTECH STD. - Fittings: #1 Factory in - W R R R
#3
Hoengseong.

Legend.: M: Monitoring W: Witness R: Review H: Hold Point S/W: Spot witness

22
9. INSPECTION & TEST PLAN

○ SPOOL
SCOPE OF INSPECTION
CHARACTERISTICS VERIFYING Factory
No QUALITY RELATED ACTIVITY REFERENCE DOCUMENT ACCEPTANCE CRITERIA
TO BE VERIFIED DOCUMENT Location
WEL EPC TPI CLIENT

- Chemical Composition &

Incoming Inspection - Chemical Composition & Mechanical Properties Factory
1 API 5L MTC W R R R
for pipe and others Mechanical Properties - Dimension (Visual Check) #1
- Heat and Plate No.

- Within ±3mm
Factory
2 Cutting Weltech Standard - Marking Measurements - Distinguishable in production - W - - -
#1
process.

Weltech Drawing - BEVEL ANGLE : within ±2.5º Factory

FIT UP WPS W R R R
Standard - Bevel angle Root-Face, Surface - Root Gap: 0~MAX 3mm #1
3
quality - No foreign material on 1/2" Factory
TACK WELDING WPS ends of welded part WPS W R R R
#1

- Welding Parameter - Kv, A Speed Factory

4 SAW Welding(Outside) WPS WPS W R R R
- Reinforcement - Max.3.5mm #1

- Welding Parameter - Kv, A Speed Factory

5 SAW Welding(Inside) WPS WPS W R R R
- Reinforcement - Max.3.5mm #1

- Outer Dimension: 0.5%

Weltech Standard Factory
6 Dimension Check - DRAWINGS - Roundness: 0.5% Y W R S/W R
Drawings #1
- Thickness: Max\ ~ .03mm

Factory
7 NDE ASME B31.3 - R.T / M.T ASME B31.3 Y W R R R
#1

Post Weld Heat Treatment ASME B31.3 Table Factory

8 - 595℃ to 650℃ Y W S/W S/W R
(PWHT) 331.1.1 #1

- In good shape and condition Factory

9 Visual Inspection Weltech Standard - Storage protection status W S/W S/W R
by visual. #1

Legend.: M: Monitoring W: Witness R: Review H: Hold Point S/W: Spot witness

23
10. MAJOR REFERENCE
○ PIPE & SPOOL (Manufactured in Weltech)
- Coating: 3LPE, F.B.E, Polyurethane & Etc.
EPC Project EPC End User/ Size/ Qty Applicable
Year name / Country Country Range W.T Material (Ton) Codes/ Applied Coating
Standard

2020 Shuqaiq WTS RTCC SWCC / Saudi D2000 20mm Carbon Steel 122 API 5L Int&Ext: F.B.E
(SA3-PS4) /Saudi AWWA C208 (300~1000㎛)

2019 Shuqaiq WTS RTCC SWCC / Saudi D2000 20mm Carbon Steel 300 API 5L Int&Ext: F.B.E
(7 Stations) /Saudi AWWA C208 (300~1000㎛)

AICC API 5L Int&Ext: F.B.E

2019 Makkah&Taif SWCC / Saudi D2000 20mm Carbon Steel 1,500 (300~1000㎛)
/Saudi AWWA C208 Ext: Polyurethane

2019 Shoaiba Tankfarm4 RTCC SWCC / Saudi D2300 20mm Carbon Steel 1,000 API 5L Int&Ext: F.B.E
/Saudi AWWA C208 (300~1000㎛)

2017 Mega Reservoir CGGC Kahramaa D2400 23mm Carbon Steel 5,000 API 5L Int&Ext: F.B.E
2018 pkg.E / Qatar / Qatar AWWA C208 (500㎛)

2016 Mega Reservoir HBK Kahramaa D2400 23mm Carbon Steel 7,000 API 5L Int&Ext: F.B.E
pkg.B / Qatar / Qatar AWWA C208 (500㎛)

Hyundai E&C ADWEA A134 Int&Ext: F.B.E

2016 Mirfa D1400 10mm Carbon Steel 454 A283 GR.C
/ UAE / UAE AWWA C208 (300㎛)

Hwasung Dongtan DOOSAN KDHC A134 Int: Epoxy

2015 Combined Heat & D1900 16mm Carbon Steel 695 A283 GR.C
Power plant / Korea / Korea A672-B60 Ext: 3LPE

2015 Seoul Coal Power POSCO KOMIPO D2300 21mm Carbon Steel 1030 A516-70 Int: Epoxy
Plant / Korea / Korea A672-C70 Ext: 3LPE

2015 Seoul Coal Power DOOSAN KOMIPO D2300 21mm Carbon Steel 730 A516-70 Int: Epoxy
Plant / Korea / Korea A672-C70 Ext: 3LPE

Turkmenistan Ethane Hyundai E&C Turkmengas Int: Epoxy

2015 Cracker and PE PP D2200 18.2mm Carbon Steel 1000 API 5L GR.B
Plant Turkmenistan /Turkmenistan Ext: 3LPE

POSCO AES Gener A53-B Int: Epoxy

2014 Cochrane D2300 21mm Carbon Steel 800 A134
/ Chile / Chile A283 GR.C Ext: 3LPE

Saemankeum power DOOSAN KOMIPO A672-B60 Int: Epoxy

2014 D2400 19mm Carbon Steel 800 A53-B
plant / Korea / Korea A283 GR.C Ext: 3LPE

2014 Sinboryeong #1,2 KOMIPO KOMIPO D2400 22mm Carbon Steel 3000 A134 Int: Epoxy
Power Plant / Korea / Korea A283 GR.C Ext: 3LPE

2013 Azzour GS E&C MEW D2200 18.2mm Carbon Steel 1200 API 5L Int&Ext: F.B.E
/ Kuwait / Kuwait (300㎛)

2013 Termotasajero 2 Hyundai E&C Termotasajero D1900 13mm Carbon Steel 600 A134 Int: Epoxy
/ Colombia / Colombia A283 GR.C Ext: 3LPE

DANGJIN 9&10 SAMSUNG EWP A134 Int: Epoxy

2013 C&T D2400 22mm Carbon Steel 900
POWER PLANT / Korea / Korea A283 GR.C Ext: 3LPE

YEONG HEUNG DO DOOSAN KOEN Int: Epoxy

2013 UNIT 5 AND 6 D600 10mm Carbon Steel 600 A134
COAL AIR PIPING / Korea / Korea Ext: 3LPE

2013 Mong Duong Power DOOSAN EVN D650 12mm Carbon Steel 800 A134 Int: Epoxy
Plant #2 / Vietnam / Vietnam Ext: 3LPE

2013 YEOSU COAL POSCO KOEN D3000~ 30mm Carbon Steel 800 A671 Int: Epoxy
POWER PLANT / Korea / Korea D3600 A515-70 Ext: 3LPE

24
10. MAJOR REFERENCE
○ PIPING MATERIAL (Trading)
- 2014 – 2019

Project EPC End User/ Size/ Applicable Codes/

Year name / Country Country Range Material Standard

2019
Jubail‐Riyadh SWCC / Carbon Steel ASME 16.9 / ASME
~ RTCC / Saudi D2000
WTS Saudi Fittings & Flange B16.5 & B16.47
2020
2018 Deduru Oya ISO2531/ BS EN545
Kolon NWSDB D700 Ductile Iron
~ Water Supply ISO8179
/ Sri Lanka / Sri Lanka ~ Pipes & Fittings
2019 PJT ISO4179
Santo
Santo Domingo ISO2531/ BS EN545
Hansol / Domingo D1000 Ductile Iron
2018 Drainage ISO8179
Ecuador Province ~ Pipes & Fittings
expansion PJT ISO4179
/ Ecuador
ISO2531/ BS EN545
Hyundai E&C / Kahramaa D1000 Ductile Iron
2018 Al Bustan PJT ISO8179
Qatar / Qatar ~ Pipes & Fittings
ISO4179
ISO2531/ BS EN545
Hyundai E&C / Ashghal D1000 Ductile Iron
2018 Al Bustan PJT F.B.E Coating
Qatar / Qatar ~ Pipes & Fittings
PU and Epoxy
Ductile Iron
Hyundai Rotem Ashghal D800 Pipes & Fittings ISO2531/ BS EN545
2018 Al Dakhira PJT
/ Qatar / Qatar ~ CS Welded F.B.E, PU and Epoxy
STS PIPE &Fittings
Dhaka Well Field ISO2531
Hyundai Rotem DWASA D800 Ductile Iron
2017 Construction ISO8179
/ Bagladesh / Bangladesh ~ Pipes & Fittings
Project ISO4179
Modunaghat AWWA C200
TAEYOUNG E&C CWASA D1500 Carbon Steel
2016 WTP and AWWA C210
/ Bagladesh / Bangladesh ~ Pipes & Fittings
Patenga BPS AWWA C208
ISO2531
Ghana Wa Kolon Global GWCL D300 Ductile Iron
2016 ISO8179
water supply PJT / Ghana / Ghana ~ Pipes & Fittings
ISO4179
Hyosung ISO2531
Dhaka WASA D1200 Ductile Iron
2015 Khalugat PJT Goodsprings ISO8179
/ Bangladesh ~ Pipes & Fittings
/ Bagladesh ISO4179

Hyundai E&C Turkmengas D500 Carbon Seamless

2014 TACE PJT API 5L PSL2
/ Turkmenistan / Turkmenistan ~ Pipes & Fittings

ISO2531
Dodoma Water Kolon DUWASA D700 Ductile Iron
2014 ISO8179
supply PJT / Tanzania / Tanzania ~ Pipes & Fittings
ISO4179

25
11. COMPANY REGISTRATION

26
 12. BALANCE SHEETS
1 US Dallar=1,157.8 Korean Won(December 31, 2019)
BALANCE SHEETS 1 US Dallar=1,118.1 Korean Won(December 31, 2018)
December 31, 2019, 2018 and 2017 1 US Dallar=1,171.4 Korean Won(December 31, 2017)

WELTECH CO.,LTD. (Unit : USD)

FY 2019 FY 2018 FY 2017
Accounts
Amounts(Audited) Amounts(Audited) Amounts(Audited)
ASSETS
Ⅰ. CURRENT ASSETS 30,345,637.61 35,078,835.41 26,051,173.29
(1) QUICK ASSETS 19,742,329.73 23,562,688.82 13,344,604.07
Cash and cash equivalents 9,340,822.28 9,441,206.29 4,956,660.57
Government subsidies - - -
Short-term financial instruments 112,164.58 101,223.58 462,199.08
Accounts receivable trade 7,066,925.81 10,241,158.35 7,600,993.81
Allowance for bad debts (174,034.04) (102,647.16) (304,774.42)
Short-term Loans 150,475.04 - -
Accrued income 91,666.60 19,254.79 9,475.63
Non-trade receivables 185,001.42 23,557.46 81,477.87
Advances paid 2,510,317.30 2,854,971.00 48,863.18
Prepaid expenses 378,360.91 808,002.22 405,882.85
Prepaid taxes - 138,005.01 -
Deferred tax asset 80,629.83 37,957.28 83,825.50
(2) INVENTORY ASSETS 10,603,307.88 11,516,146.59 12,706,569.22
Merchandise 707,326.12 1,687,556.69 807,608.66
Finished goods 4,155,593.24 4,952,666.12 3,500,136.38
Valuation provision (173,222.20)
Raw materials 4,002,521.12 418,642.62 4,990,541.04
Sub-materials 379,024.33 1,520,037.38 653,147.25
Supplies - - -
Work in progress 1,532,065.27 2,937,243.78 2,755,135.89
Goods in transit - - -
Ⅱ. NON CURRENT ASSETS 46,164,717.07 40,362,209.77 38,802,010.24
(1) INVESTMENT ASSETS 12,590,418.02 9,991,193.28 9,915,934.95
Long-term bank deposits 1,471,519.92 1,260,941.53 908,091.75
Investment securities 2,144,696.35 2,071,929.67 2,437,927.63
Long-term loans 3,726,145.35 - -
Investment equity method 4,065,121.85 5,433,385.47 5,576,900.68
Investment others 1,182,934.55 1,224,936.61 993,014.89
(2) TANGIBLE ASSETS 32,012,458.08 28,320,923.37 26,634,332.74
Land 17,637,804.24 18,257,176.60 16,228,768.37
Buildings 12,552,752.58 10,390,052.26 9,588,301.52
Accumulated depreciation (4,288,153.60) (3,843,968.24) (3,154,679.03)
Structures 1,689,306.00 1,440,756.70 1,304,615.05
Accumulated depreciation (521,984.38) (461,079.41) (372,188.86)
Machinery and equipment 22,780,456.68 23,359,427.08 23,837,500.72
Accumulated depreciation (21,308,085.97) (21,271,186.85) (21,092,603.75)
Vehicles and transportation equipment 1,125,969.14 917,097.40 712,279.99
Accumulated depreciation (634,577.21) (656,626.25) (599,271.89)
Tools and instruments 231,959.61 230,017.75 226,903.57
Accumulated depreciation (214,559.38) (209,758.24) (197,314.12)
Furniture 452,160.99 430,473.48 415,325.97
Accumulated depreciation (371,711.22) (325,130.47) (294,173.30)
Temporary resources 254,112.56 263,135.25 251,162.30
Accumulated depreciation (253,829.62) (262,620.68) (250,285.89)
Construction in progress 2,880,837.66 63,156.99 29,992.09
(3) INTANGIBLE ASSETS 485,450.19 861,035.74 1,028,749.84
Patent rights 467,180.48 838,204.00 998,442.94
Software 18,269.71 22,831.74 30,306.90
(4) OTHER NON CURRENT ASSETS 1,076,390.78 1,189,057.38 1,222,992.71
Deposits provided 475,585.56 501,415.76 483,739.94
Long-term receivables 600,805.22 687,641.62 739,252.77
Long-term prepaid expenses - -
ASSETS TOTAL 76,510,354.68 75,441,045.18 64,853,183.53
LIABILITIES
Ⅰ. CURRENT LIABILITIES 30,557,302.91 34,293,165.65 32,438,964.53
Account payable trade 2,751,991.00 6,230,355.34 7,447,255.44
Accounts payable 1,640,092.13 1,821,625.37 1,675,289.59
Withholdings 61,869.72 70,626.06 78,904.05
Advances from customers 6,216,480.15 6,447,141.27 6,268,647.00
VAT payable 715,608.44 898,825.08 705,041.17
Short-term borrowings 16,960,067.36 14,831,213.67 14,150,114.37
Accrued expenses 59,768.60 60,403.28 43,949.09
Current portion of long-term debts 1,685,105.37 1,625,489.67 1,543,571.79
Corporate bond - 2,307,485.91 -
Income Taxes Payable 466,320.14 - 526,192.03
Convertible bonds - - -
Premium on convertible bonds - - -
Conversion rights adjustment - - -
Deferred tax liabilities - - -

27
 FY 2019 FY 2018 FY 2017
Accounts
Amounts(Audited) Amounts(Audited) Amounts(Audited)
Ⅱ. NON CURRENT LIABILITIES 16,149,919.61 10,597,955.65 11,075,190.58
Debentures - - -
Long-term borrowings 8,637,617.57 5,322,936.79 6,439,858.29
Corporate bond 1,727,414.06 2,591,725.59 2,202,492.74
Convertible bonds 3,454,828.12
Premium on convertible bonds 905,630.04
Conversion rights adjustment (944,060.56)
Discount on bonds payable (601.48)
Reserve for retirement allowances 2,831,603.09 2,676,715.96 2,475,648.57
Retirement insurance premium deposits (16,123.46) (26,623.81) (40,650.25)
National pension convertible (2,222.84) (2,301.76) (2,197.03)
Retirement pension operation assets (2,180,856.42) (1,831,049.69) (1,565,029.06)
Deferred income tax credits 1,736,691.49 1,788,644.34 1,474,523.60
Provision for construction losses - 17,233.87
Defect repair allowances - 60,674.36 90,543.72
LIABILITIES TOTAL 46,707,222.52 44,891,121.30 43,514,155.11
SHAREHOLDERS' EQUITY
Ⅰ. CAPITAL STOCK 3,801,459.67 3,936,436.82 3,074,381.08
Capital stock 1,958,887.55 2,028,441.11 1,936,144.78
Preferred stock 1,842,572.12 1,907,995.71 1,138,236.30
Ⅱ. CAPITAL SURPLUS 10,602,356.76 10,910,540.43 4,089,983.88
Paid-in capital in excess of par value 10,244,613.06 10,608,365.08 3,983,839.85
Consideration for conversion rights 357,743.70 302,175.35 106,144.03
Ⅲ. CAPITAL ADJUSTMENTS -
Ⅳ. ACCUMULATED OTHER COMPREHENSIVE INCOME 8,887,103.54 9,170,516.83 8,183,251.78
Revaluation reserve 8,556,980.33 8,860,810.14 8,457,633.45
Gain(loss) on valuation of equity method 353,167.87 331,303.62 (254,245.94)
Gains(loss) on valuation of investment securities (23,044.66) (21,596.93) (20,135.73)
Ⅴ. EARNED SURPLUS 6,512,212.19 6,532,429.80 5,991,411.68
Legal reserve 317,796.73 307,615.65 286,727.38
Discretionary appropriated retained earnings 59,796.59 61,919.76 59,102.35
Unappropriated retained earnings 6,134,618.87 6,162,894.39 5,645,581.95
SHAREHOLDERS' EQUITY 29,803,132.16 30,549,923.88 21,339,028.42
LIABILITIES AND SHAREHOLDERS' EQUITY TOTAL 76,510,354.68 75,441,045.18 64,853,183.53

28
 STATEMENTS OF INCOME
For the Years Ended December 31, 2019, 2018 and 2017

1 US Dallar=1,157.8 Korean Won(December 31, 2019)

1 US Dallar=1,118.1 Korean Won(December 31, 2018)
1 US Dallar=1,171.4 Korean Won(December 31, 2017)

WELTECH CO.,LTD.
FY 2019 FY 2018 FY 2017
Accounts
Amounts(Audited) Amounts(Audited) Amounts(Audited)
Ⅰ. sales 56,533,530.41 65,562,739.49 60,930,993.81
Merchandise sales 17,294,062.53 16,791,079.27 6,214,140.35
Product sales 35,659,702.23 44,520,340.99 47,010,199.06
Construction revenue 3,579,765.65 4,251,319.23 7,706,654.40
Ⅱ. cost of goods sold 44,689,394.86 53,683,770.21 47,306,380.07
Merchandise sales cost 12,867,751.61 13,723,045.41 5,245,063.12
Product sales cost 27,879,711.26 34,314,057.03 36,437,046.11
Contract construction sales cost 3,941,931.99 5,646,667.77 5,624,270.84
Ⅲ. Gross Profit 11,844,135.55 11,878,969.28 13,624,613.74
Ⅳ. S/A expenses 8,795,382.88 9,078,958.39 9,378,389.17
Salaries expenses 2,672,536.91 2,397,409.44 2,331,157.22
Severance benefits 256,793.77 211,680.27 315,106.60
Employee benefits 366,991.80 309,075.00 304,200.34
Rentals 143,982.86 121,898.72 89,708.57
Entertainment 274,081.35 250,734.73 188,016.92
Depreciation 423,022.40 294,938.11 266,618.28
Taxes and dues 106,714.10 95,899.36 62,553.16
Advertising 45,328.58 12,350.52 47,241.95
Regular research and development 2,850.23 - -
Bad debt expense 74,906.57 (15,794.58) 4,338.95
Maintenance for vehicles 151,151.09 171,279.20 147,899.16
Repairs and maintenance 3,890.61 209.28 102.44
Education & training expenses 2,314.50 1,198.03 333.79
Travel expenses 425,446.95 222,221.32 118,936.24
Delivery expenses 1,463,207.77 2,759,459.62 2,944,277.15
Insurance 42,163.83 67,068.86 83,082.11
Communications 36,885.02 38,018.67 34,645.41
Supplies expenses 158,830.67 79,202.08 22,857.15
Amortization of intangible fixed assets 230,128.20 271,602.80 182,673.74
Service fees 1,024,565.70 868,429.81 1,030,686.73
Book printing expenses 13,138.90 12,900.96 11,451.95
Sales commission 780,350.31 493,438.46 822,215.28
Packaging expenses 96,100.76 415,737.73 370,286.03
Publication expenses - - -
Car lease payment - - -
Ⅴ. Operating profit 3,048,752.67 2,800,010.89 4,246,224.57
Ⅵ. Non-operation income 967,960.88 1,215,140.00 455,473.93
Interest income 160,086.83 65,607.98 74,787.93
Dividends income 4,188.98 8,675.43 -
Fees revenues - - -
Rental income 77,992.74 116,536.98 142,393.72
Gain on foreign currency transactions 358,209.85 498,675.01 119,241.90
Gains on foreign currency translation 162,370.25 52,584.12 228.99
Gain on disposition of tangible assets 15,545.86 25,201.52 4,418.44
Gain on disposition of investment securities - 1,289.13 -
Gain on insurance settlement - - -
Equity method gains 578.83 32,528.16
Miscellaneous gains 188,987.54 414,041.67 114,402.95
Ⅶ. Non-operating Expenses 3,169,592.09 3,215,871.07 2,308,377.55
Interest expense 1,375,826.41 1,391,959.30 1,125,379.21
Loss on foreign currency transactions 90,850.78 105,302.20 219,320.06
Donations 118,984.28 36,007.51 36,701.81
Loss on foreign currency translation 203,433.87 46,060.00 132,063.00
Loss on disposition of trade receivable - 4,652.34 3,749.43
Loss on disposition of investment securities 301.56 430.57 117.75
Impairment losses on investment securities 26,429.44 88,404.14 343,293.51
Impairment losses on intangible assets 119,772.33 213,464.27
Losses on retirement of bonds - - -
Loss on disposition of investment assets - - 11,395.87
Losses on inventory obsolescence - - -
Loss on disposition of tangible assets 0.86 4,959.24 2,129.77
Equity method losses 1,215,760.56 1,310,346.36 427,559.31
Miscellaneous losses 18,232.00 14,285.14 6,667.83
Ⅷ. Net income before corporate tax 847,121.46 799,279.82 2,393,320.95
Ⅸ. Corporate tax etc. 436,057.81 456,905.17 450,797.28
Taxes on income 436,057.81 456,905.17 450,797.28
Ⅹ. Net income 411,063.65 342,374.65 1,942,523.67

29
13. CERTIFICATE

30
13. CERTIFICATE

31
 CERTIFICATE OF
APPROVAL
WELTECH Co., Ltd.
• HEAD OFFICE & FACTORY : 755, HANU-RO, HOENGSEONG-EUP,
HOENGSEONG-GUN, GANGWON-00, KOREA
• JINCHEON FACl ORY : 56-33, SONGDU 4-GIL, JINCHEON-EUP,
、

JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA

• SANGHAGARI FACTORY : 235, SANGHAGA-RO, UCHEON-MYEON,
HOENGSEONG-GUN, GANGWON-D0, KOREA
• SANDAN BRANCH : 517, SANGHAGA-RI, UCHEON-MYEON,
HOENGSEONG-GUN, GANGWON-DO, KOREA
• NONGGONGSANDAN BRANCH : 45, SUNAM-RO 266BEON-GIL, UCHEON-MYEON,
HOENGSEONG-GUN, GANGWON-00, KOREA

Korean Standards Association hereby certifies that the Quality

Management System of the above organiztion has been assessed

and found to meet the requirements of the standard and scope of

certification detailed below:

CERTIFICATIONNo. QMS -1611

STANDARD KS Q ISO 9001 :2015/ISO 9001 :2015

SCOPE OF CERTIFICATION

SITE:Refer to the Appendix

VALIDFROM 15 January, 2021

VALID TO 14 January, 2024
Original Certification Date : 15 January, 2003

Date of Issue : 18 October, 2020 沿군仁

PRESIDENT OF KSA

KOREAN STANDARDS ASSOCIATION

KSA�G 廳
KSA has been accredited by Korea Accreditation Board(KAB)
5, Teheran-ro 69-gil, Gangnam-Gu, Seoul, Korea

as an ISO 9001 Certification body.(Accreditation Number : KAB-QC-30)

32
 APPENDIX
THI S APPENDIX SPEC I FIES THE SCOPE OF CERTI FICATION GRANTED TO

CERTIFICATION No : QMS-1611

WELTECH Co., Ltd.

[HEAD OFFICE & FACTORY, JINCHEON FACTORY, SANGHAGARI FACTORY]

1. MANUFACTURE AND SERVICING OF COATED STEEL PIPES FOR WATER
WORKS, FITTINGS OF COATED STEEL PIPES FOR WATER WORKS, COATED STEEL
PIPES FOR WATER SERVICES, FITTING OF COATED STEEL PIPES FOR WATER
SERVICE, POLYETHYLENE COATED STEEL PIPES BY POWDER FUSION, ARC
WELDED CARBON STEEL PIPES, CARBON STEEL TUBES FOR GENERAL
STRUCTURAL PURPOSES, STEEL PIPE PILES, POLYUREA COATED STEEL PIPE
AND FITTINGS FOR WATER WORKS, MIXED EPOXY RESIN COATED STEEL PIPE
FOR WATER WORKS, FITTINGS OF MIXED EPOXY RESIN COATED STEEL PIPES
FOR WATER WORKS, 3LAYER POLYETHYLENE COATED PIPE WITH SACRIFICIAL
ANODE SYSTEM, 3LAYER POLYETHYLENE COATED STEEL PIPES BY POWDER
FUSION(INSIDE COATING MATERIAL : CERAMICS, NANO SILVER EPOXY, LIQUID
EPOXY, HYBRID, POLYUREA, POLYURETHANE), STEEL PIPE PILES AND WT­
JOINT, PERAMIC POWDER COATING STEEL PIPE PILES.
2. MANUFACTURE AND INSTALLATION OF CIR METHOD(CORRUGATED STEEL
PLATE IN SEWER REINFORCING METHOD) FOR CORRUGATED STEEL PLATE.

[SANDAN BRANCH]
MANUFACTURE AND SERVICING OF COATED STEEL PIPES FOR WATER WORKS,
COATED STEEL PIPES FOR WATER SERVICES, EXTRUDED POLYETHYLENE
COATED STEEL PIPES(INSIDE COATING MATERIAL : LIQUID EPOXY, HYBRID),
MIXED EPOXY RESIN COATED STEEL PIPE FOR WATER WORKS, 3LAYER
POLYETHYLENE COATED PIPE WITH SACRIFICIAL ANODE SYSTEM(INSIDE
COATING MATERIAL : HYBRID) AND 3LC COATED PIPES FOR COOLING WATER
SYSTEM.

[NONGGONGSANDAN BRANCH]
MANUFACTURE AND SALES OF SURGICAL MASK, MELT BLOWON FILTER

18 October, 2020

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14. APPROVAL VENDOR

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14. APPROVAL VENDOR

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14. APPROVAL VENDOR

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14. APPROVAL VENDOR

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14. APPROVAL VENDOR

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14. APPROVAL VENDOR

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15. PICTURES

<KUWAIT AZZOUR WDC ii> <WATER COOLING PIPE>

<Y type pipe Fitting> <3LPE Coating Pipes>

<Pipe Fitting of 90°ELBOW> <Youlcheon complex thermal power plant>

<Yeongwol thermal power plant> <T type pipe Fitting>

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15. PICTURES

<BELOW FLEXIBLE JOINT> <EXPANSION JOINT>

<Bangladesh Harafu thermal power plant> <Bangladesh Harafu thermal power plant>

<Kwangyang LNG thermal power plant> <Kwangyang LNG thermal power plant>

<Automatic Welding system for internal> <Automatic Welding system for External>

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