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April 22, 2002
Kawasaki Kisen Kaisha, Ltd.

Start-up of "K" Line (Korea) Ltd.

Kawasaki Kisen Kaisha, Ltd. (hereinafter called "K" LINE) is pleased to announce that "Dongwoo Maritime Co., Ltd.," General Agent of "K" LINE in Korea, will be renamed to "K" Line (Korea) Ltd. from May 1, 2002.

Dongwoo Maritime Co., Ltd." was established in April 1990 as a Joint venture company of "K" LINE and its Korean partners, and has been acting as "K" LINE's General Agent in Korea since that time.
As "K" LINE has become the major shareholder of the company after purchasing one of the Korean partner's shares last May, it was decided to give the company the more familiar name of "K" LINE (Korea) Ltd., utilizing the "K" Line brand name in order to enhance "K" LINE's image in the Korean market.

Outline of the company is as follows:

Company Name "K" Line (Korea) Ltd.
Time of Start-up May 1, 2002
Paid capital 400 million Korean Won
President Myong-Ho Kim
Location of offices Head office
Sejongro-Daewoo Bldg. 1F, 167, Naesu-Dong, Jongro-Ku, Seoul, 110-719, Korea
Tel: 82-2-397-8200 Fax: 82-2-397-8239

Busan Branch:
Dongbang Bldg. 5F, 25, 4ka, Jungang-Dong, Chung-ku, Busan, 600-014, Korea
Tel: 82-51-469-4011 Fax: 82-51-462-8776
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