Handysoft Corp.

HandySoft is enhancing the productivity of companies, heightening national competitiveness, and developing and supplying the advanced e-business Solutions which are required in the knowledge and information society. Moreover, in order to raise the value of the company and its shareholders, all our workers and executives are making their best efforts to develop the structure of the business, to reinforce the development of critical technology, to expand the global management, and to create profitable earnings. The company has taken the lead in the field of groupware and knowledge management systems at home. It supplies BizFlow Workflow Solutions, the optimal solution, to realize BPM(Business Process Management), which is spreading worldwide to federal institutions and private companies. It is growing to be the world-class software vendor in Korea. However, I apologize for the first negative growth of the company since the initial public offering in 1999. The recession of the domestic economy in 2002 was prolonged and the software market shrunk.

We will do our best to recreate high profitab
ility and to improve the value of the company in 2003. We are planning to focus on the recreation of profitable growth, construction of the incorruptible management system, and the realization of the global leading company.
First, the company will fo
cus on the intensive promotion of high value-added industry, the reduction of various consumptive expenses, and the operation of earning control systems through the control of business.
Second, the company will globalize the manpower by settling down
the global business network which connects Korea with the U.S.A. and Japan, and will prepare the global sales and earnings system by reinforcing global marketing.
Third, the company will reinforce all the executives' and empleyees' responsibility, m
oral management, and leadership. It will raise the results of management by becoming an elastic structure of organization which can positi