Goldstar Paper Tech (GSPT) Ltd – Company Overview
<meta charset="utf-8"><b style="font-weight:normal;" id="docs-internal-guid-9e718609-7fff-5066-abd6-0ac6acf69c55"><h1 dir="ltr" style="line-height:1.2;margin-top:18pt;margin-bottom:4pt;"><span style="font-size:20pt;font-family:'Comic Sans MS',sans-serif;color:#0000ff;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Goldstar Paper Tech (GSPT) Ltd – Company Overview</span></h1><h2 dir="ltr" style="line-height:1.2;margin-top:8pt;margin-bottom:4pt;"><span style="font-size:16pt;font-family:'Comic Sans MS',sans-serif;color:#0f4761;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Company Background</span></h2><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Goldstar Paper Tech. Ltd (GSPT) is a leading </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">pulp and paper machinery manufacturer</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> based in South Korea. The company’s origins date back to 1976 when it began as part of the LG Group’s industrial machinery division</span><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[1]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. In 1999, the business was </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">spun off from LG</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> and officially re-established as GSPT, positioning itself as an independent supplier of advanced technology, automation, and services for the pulp and paper industry</span><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[1]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Over the decades, GSPT has built a strong reputation for engineering quality and innovation, becoming the </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">No.1 company in Korea’s paper machinery sector</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> and an export-driven enterprise (over 90% of its sales are from international markets)</span><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%E3%88%9C%EB%8A%94%20%EA%B5%AD%EB%82%B4%20%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EB%B6%84%EC%95%BC%201%EC%9C%84,how%EB%A5%BC%20%EB%B0%94%ED%83%95" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[2]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. While its core focus is on pulp and paper machinery, GSPT has also leveraged its engineering expertise to serve related industries such as steel and energy, underscoring a diverse industrial competence</span><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,line%20inspection" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[3]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Royal Inc.</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, based in Dhaka, is GSPT’s official partner in Bangladesh, providing local representation, strategic machinery integration, and full-scale project execution for Bangladeshi paper producers</span><a href="https://www.royalinckr.com/#:~:text=At%20Royal%20INC,in%20advancing%20Bangladesh%27s%20industrial" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[4]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. This partnership reflects GSPT’s approach to </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">growing with its customers and agents worldwide</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, ensuring on-ground support and tailored solutions in each region. GSPT’s global outlook is evident – it exports the majority of its equipment and has established manufacturing and support presence beyond Korea, including a subsidiary operation in Changshu, China, to better serve the Asian market. The combination of Korean engineering and local partnerships (e.g., Royal Inc. in Bangladesh) enables GSPT to deliver technology solutions competitively and responsively in emerging markets.</span></p><h2 dir="ltr" style="line-height:1.2;margin-top:8pt;margin-bottom:4pt;"><span style="font-size:16pt;font-family:'Comic Sans MS',sans-serif;color:#0f4761;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Products and Technologies</span></h2><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">GSPT offers a </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">comprehensive range of machinery and equipment</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> for the pulp and paper industry, covering the entire production line from raw material processing to finished paper reels. Its product portfolio spans modern </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">stock preparation systems</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (for preparing pulp from wood or recycled fiber) as well as complete </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">paper machine installations</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">: - </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Stock Preparation Equipment:</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> High-efficiency pulpers (batch and continuous), refiners (e.g. multi-disc refiners), deflakers, high-density (HD) and low-consistency (LC) cleaners, screens, and fiber/reject separators. These machines convert raw pulp (wood chips or wastepaper) into a uniform fiber slurry, ready for papermaking</span><a href="https://www.enfpaper.com/gspt#:~:text=Formers%2C%20Headboxes%2C%20Presses%2C%20Dryers%2C%20Calenders%2C,Reels%2C%20Winders%2C%20Rewinders" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[5]</span></a><a href="https://www.proweldindo.com/products#:~:text=Goldstar%20Paper%20Tech" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[6]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. - </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Paper & Board Machines:</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Turn-key paper machine lines from the headbox (formation section) through the press and dryer sections to the Pope reel (roll winding)</span><a href="https://www.proweldindo.com/products#:~:text=Goldstar%20Paper%20Tech" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[6]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. GSPT is capable of supplying </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Fourdrinier-type paper machines</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> for various grades including packaging board, linerboard, corrugated medium, and writing/printing paper. It also offers </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">tissue paper machines</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> for sanitary tissue products (e.g. toilet and facial tissue), reflecting a broad technical scope</span><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=,Unwinding%20and%20reeling%20machines" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[7]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Key components provided include advanced headboxes (with flow and fiber distribution control), forming sections (often with polycarbonate lamella for optimized formation), presses, drying cylinders and hoods, calenders, and reel/winder systems. - </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Auxiliary & Finishing Equipment:</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> GSPT provides stand-alone equipment such as </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">rewinders and winders</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> for finished roll processing</span><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2052.01.10%20,and%20board%20converting%20machines%2C%20misc" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[8]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, vacuum/suction rolls and guide rolls for paper machines, coating and laminating units for paper surface finishing</span><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2052.04.01%20,45" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[9]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, as well as </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">spare parts and upgrade components</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> for ongoing machinery maintenance</span><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2060%20,51" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[10]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. This means clients can purchase either an entire production line or individual machines/upgrades to integrate into existing lines</span><a href="https://www.proweldindo.com/products#:~:text=Goldstar%20Paper%20Tech" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[6]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. - </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Rebuilds and Services:</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Beyond new machinery, GSPT offers rebuilding/retrofit services to modernize older paper machines for higher efficiency or different paper grades. The company emphasizes strong in-house fabrication, machining, and assembly capabilities, with rigorous quality control (in-line inspection, test pre-assembly, cabling & piping, packaging) to ensure reliable installation and commissioning</span><a href="https://www.linkedin.com/company/gspt/#:~:text=Originated%20in%201976%2C%20we%20started,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[11]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. After-sales service, including technical support and spare parts supply, is a key part of GSPT’s offering to maximize customer uptime.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Notably, </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">paper produced on GSPT machines</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> ranges across many grades. For example, GSPT has delivered machinery for </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">packaging papers</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (such as kraft linerboard, white-top liner, testliner, and corrugating medium) which are used in corrugated box manufacturing</span><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=4y" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[12]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Its equipment can also produce </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">cultural papers</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (like fine writing/printing paper) and </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">tissue products</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, depending on the configuration. This versatility is supported by GSPT’s engineering: a single GSPT-supplied production line can be designed for high output – one reference machine is a packaging paper line of </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">6,650 mm deckle width</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> with a design speed of </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">1,050 m/min</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, producing ~</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">1,200 tons per day</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> of liner and medium grades</span><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=4y" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[12]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Such specifications demonstrate GSPT’s capability to deliver </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">large-scale, modern paper machines</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> suitable for high-volume mills.</span></p><h2 dir="ltr" style="line-height:1.2;margin-top:8pt;margin-bottom:4pt;"><span style="font-size:16pt;font-family:'Comic Sans MS',sans-serif;color:#0f4761;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Market Presence and Competitors</span></h2><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">GSPT has a global market presence, with the bulk of its equipment exported to clients in Asia, the Middle East, and other developing markets. The company’s focus on </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">energy-efficient and environmentally friendly technology</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (a stated principle on its website</span><a href="http://gspt.co.kr/#:~:text=GSPT%3A%20Home%20GSPT%20has%20supplied,%C2%B7%20Products%20%C2%B7%20Reference" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[13]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">) aligns well with paper industry trends toward sustainability and cost savings. GSPT’s machines are operating in various countries; for instance, in Indonesia, a major paper mill installed a complete GSPT line for packaging board (via GSPT’s Indonesian agent, PT. Proweldindo)</span><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=GSPT%20was%20supplied%20the%20complete," style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[14]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. In Bangladesh, GSPT (through Royal Inc.) is targeting the growing paper and tissue sector, which is investing in new capacity as domestic demand for paper products rises. Other regions where GSPT has supplied equipment include the Middle East and Eastern Europe (often markets that seek cost-competitive alternatives to European suppliers). Within South Korea, although the domestic paper industry is relatively mature and new projects are fewer, GSPT remains the dominant local supplier for any upgrades or new installations, effectively </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">cornering the domestic market for paper machinery</span><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%E3%88%9C%EB%8A%94%20%EA%B5%AD%EB%82%B4%20%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EB%B6%84%EC%95%BC%201%EC%9C%84,how%EB%A5%BC%20%EB%B0%94%ED%83%95" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[2]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">In the </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">global pulp and paper machinery market</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, GSPT is a </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">mid-sized player</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> competing in a field dominated by a few large multinational corporations. The industry’s top three technology providers – </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Valmet</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (Finland), </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Voith</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (Germany), and </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">ANDRITZ</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (Austria) – collectively command a major share of the market (each with multi-billion dollar annual revenues in this sector)</span><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=Sales%20revenue%20among%20these%20companies,friendly" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[15]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Valmet alone claims roughly </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">50%</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> of the market in board and paper production technology</span><a href="https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/#:~:text=Valmet%20has%20established%20a%20leading,sees%20Valmet%20capturing%20approximately%2010" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[16]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, with Voith and Andritz comprising much of the remainder, especially for high-end machinery. These giants have global reach and deep resources, and their sales in paper technology are on the order of </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">€3.7–7.6 billion</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> annually</span><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=Sales%20revenue%20among%20these%20companies,friendly" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[15]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> – by comparison, GSPT’s annual sales are around </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">$9 million</span><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[17]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. Aside from the “Big-3”, there are other notable competitors: </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Toscotec</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (Italy, now part of Voith) and </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Bellmer</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> (Germany) specialize in smaller machines and tissue; </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">BHS Corrugated</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> and </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Fosber</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> focus on corrugating machinery</span><a href="https://www.industryarc.com/Report/18570/paper-machine-systems-market.html#:~:text=Paper%20Machine%20Systems%20Market%20Size%2C,more%20Automation%20and%20Instrumentation" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[18]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Chinese firms (like </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Huazhang Technology</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Weifang</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> or </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Zhuji Zhongtai</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">) and regional players (e.g. </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Parason</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> in India for stock prep) offer lower-cost equipment in specific niches</span><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[19]</span></a><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=The%20Paper%20Machine%20Headbox%20System,consistency%20and%20reduce%20production%20costs" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[20]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. In this landscape, GSPT distinguishes itself by offering </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">cost-effective, customized solutions</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> and </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">flexibility</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> that larger companies sometimes cannot match for smaller projects. As a Korean manufacturer with a long history, GSPT leverages a reputation for solid engineering while pricing competitively against European suppliers and delivering higher quality than some emerging-market rivals.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"><span style="border:none;display:inline-block;overflow:hidden;width:560px;height:328px;"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdmFsFtmWmb8gIUyPueDx8f9h1zF37BETEIrwPYZlYWM402q7Dd7I99RIwIhxYpq5D8FercTvlDmtBtCh42EwRG8CG5E_dmd2OPcGbVGqeyx_3YEPiBe6GILmes1CX8OlPnPnmzH_nO6VftdoLtPbA?key=JIXhsOSSuZ0sPnztXolpvQ" width="560" height="328" style="margin-left:0px;margin-top:0px;"></span></span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"><br></span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Estimated global market share of major paper machinery suppliers. GSPT represents a small but growing niche among the “Others” outside the top three</span><a href="https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/#:~:text=Valmet%20has%20established%20a%20leading,sees%20Valmet%20capturing%20approximately%2010" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[16]</span></a><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[17]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Despite its relatively small size globally, GSPT has found success through </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">niche positioning</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. It often targets projects where customers need reliable technology on a mid-sized budget – for example, new paper mills in developing countries, or upgrades of older machines where a full replacement by a top-tier vendor might be cost-prohibitive. GSPT’s ability to deliver a full production line (or individual components) with strong technical support is a key competitive advantage for such clients. The company’s emphasis on quality manufacturing (it conducts in-house casting, machining, assembly, and testing) gives it control over product reliability</span><a href="https://www.linkedin.com/company/gspt/#:~:text=Originated%20in%201976%2C%20we%20started,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[11]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. This has allowed GSPT to export to demanding markets; indeed, more than 90% of GSPT’s output is exported, indicating that international customers have confidence in its equipment</span><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%E3%88%9C%EB%8A%94%20%EA%B5%AD%EB%82%B4%20%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EB%B6%84%EC%95%BC%201%EC%9C%84,how%EB%A5%BC%20%EB%B0%94%ED%83%95" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[2]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">. By maintaining a nimble operation (fewer than 50 core employees</span><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[21]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, augmented by project-based contractors as needed) and focusing on </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">continuous innovation</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> in areas like energy-saving and automation, GSPT remains a competitive challenger brand in the industry.</span></p><br><br><h2 dir="ltr" style="line-height:1.2;margin-top:8pt;margin-bottom:4pt;"><span style="font-size:16pt;font-family:'Comic Sans MS',sans-serif;color:#0f4761;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Key Facts and Financial Performance</span></h2><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">To summarize GSPT’s profile, the table below highlights some key facts and figures about the company:</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Financially, GSPT is a </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">privately held company</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, so detailed profit figures are not publicly disclosed. However, available data shows an annual turnover on the order of ₩10 billion (with a modest profit margin, given the capital-intensive nature of the business). The company had ~₩10.1 billion in sales in 2024</span><a href="https://www.incruit.com/company/1671843250/#:~:text=%EA%B8%B0%EC%97%85%EB%AA%85%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%3B%20%EA%B8%B0%EC%97%85%EA%B7%9C%EB%AA%A8%EC%A4%91%EC%86%8C%EA%B8%B0%EC%97%85,%ED%8F%89%EA%B7%A0%EC%97%B0%EB%B4%894%2C336%EB%A7%8C%EC%9B%90" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[22]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, up from ₩7.9 billion in 2013</span><a href="https://www.jobplanet.co.kr/companies/202271/landing#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%202025%EB%85%84%20%EA%B8%B0%EC%97%85%EC%A0%95%EB%B3%B4%20%EA%B8%B0%EA%B3%84%2F%EC%84%A4%EB%B9%84%2F%EC%9E%90%EB%8F%99%EC%B0%A8,%EC%97%B0%ED%98%81." style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[23]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, indicating steady growth. GSPT operates with a sound financial footing for a firm of its size – its strategy of exporting globally has buffered it from the limited domestic demand. The </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">consolidated revenue</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, including its overseas subsidiary in China, is reported around ₩14.2 billion in recent years</span><a href="https://www.catch.co.kr/Comp/CompSummary/129668#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EC%B1%84%EC%9A%A9%202025%EB%85%84%20%EA%B8%B0%EC%97%85%EC%A0%95%EB%B3%B4%20,12" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[24]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, suggesting that the Changshu (China) branch contributes additional sales on top of the Korean entity’s ~₩10 billion. With a workforce of under 50, this revenue translates to a high </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">productivity per employee</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">, enabling GSPT to invest continuously in R&D and maintain competitive pricing.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">In summary, Goldstar Paper Tech (GSPT) Ltd presents itself as a </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">reliable and agile engineering company</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> in the pulp and paper machinery industry. Backed by decades of experience and a legacy from the LG engineering lineage, GSPT combines </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Korean manufacturing quality</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> with a global outlook. Its product lines cover everything a paper mill needs – from pulping to winding – and its reference projects prove that even smaller firms can deliver world-class machines. Moving forward, GSPT aims to strengthen its market share by leveraging partnerships (like Royal Inc. in Bangladesh and other agents worldwide) and focusing on the growing demand for paper machinery in emerging markets, all while upholding a professional, solution-driven approach for its clients. The company’s professional track record and corporate ethos of </span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">“Advanced Technology, Energy Saving, and Environment-Friendly Facility”</span><a href="http://gspt.co.kr/#:~:text=GSPT%3A%20Home%20GSPT%20has%20supplied,%C2%B7%20Products%20%C2%B7%20Reference" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[13]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> position it well to continue thriving alongside much larger competitors, carving out a significant niche in the global paper industry ecosystem.</span></p><p dir="ltr" style="line-height:1.2;margin-top:9pt;margin-bottom:9pt;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Sources:</span><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Goldstar Paper Tech corporate profile and LinkedIn</span><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[1]</span></a><a href="https://www.linkedin.com/company/gspt/#:~:text=Originated%20in%201976%2C%20we%20started,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[11]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Company financial and employment data</span><a href="https://www.incruit.com/company/1671843250/#:~:text=%EA%B8%B0%EC%97%85%EB%AA%85%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%3B%20%EA%B8%B0%EC%97%85%EA%B7%9C%EB%AA%A8%EC%A4%91%EC%86%8C%EA%B8%B0%EC%97%85,%ED%8F%89%EA%B7%A0%EC%97%B0%EB%B4%894%2C336%EB%A7%8C%EC%9B%90" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[22]</span></a><a href="https://www.jobplanet.co.kr/companies/202271/landing#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%202025%EB%85%84%20%EA%B8%B0%EC%97%85%EC%A0%95%EB%B3%B4%20%EA%B8%B0%EA%B3%84%2F%EC%84%A4%EB%B9%84%2F%EC%9E%90%EB%8F%99%EC%B0%A8,%EC%97%B0%ED%98%81." style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[23]</span></a><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[17]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Korea industry document</span><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%E3%88%9C%EB%8A%94%20%EA%B5%AD%EB%82%B4%20%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EB%B6%84%EC%95%BC%201%EC%9C%84,how%EB%A5%BC%20%EB%B0%94%ED%83%95" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[2]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; ENF Recycling Directory</span><a href="https://www.enfpaper.com/gspt#:~:text=Formers%2C%20Headboxes%2C%20Presses%2C%20Dryers%2C%20Calenders%2C,Reels%2C%20Winders%2C%20Rewinders" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[5]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Proweldindo Product info</span><a href="https://www.proweldindo.com/products#:~:text=Goldstar%20Paper%20Tech" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[6]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Birkner PaperWorld Directory</span><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=,Unwinding%20and%20reeling%20machines" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[7]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Project reference (LinkedIn, 2019)</span><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=4y" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[12]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Valmet IR blog (market share insight)</span><a href="https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/#:~:text=Valmet%20has%20established%20a%20leading,sees%20Valmet%20capturing%20approximately%2010" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[16]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Nanosa market report (competitor revenues)</span><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=Sales%20revenue%20among%20these%20companies,friendly" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[15]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">; Royal Inc. company info</span><a href="https://www.royalinckr.com/#:~:text=At%20Royal%20INC,in%20advancing%20Bangladesh%27s%20industrial" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[4]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">.</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:10pt;"><br></p><hr><p><br></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[1]</span></a><a href="https://www.linkedin.com/company/gspt/#:~:text=GSPT%20is%20making%20the%20best,line%20inspection" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[3]</span></a><a href="https://www.linkedin.com/company/gspt/#:~:text=Originated%20in%201976%2C%20we%20started,assembly%2C%20cabling%20%26piping%20and%20packaging" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[11]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Goldstar Paper Tech. Ltd | LinkedIn</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/company/gspt/" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.linkedin.com/company/gspt/</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%E3%88%9C%EB%8A%94%20%EA%B5%AD%EB%82%B4%20%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EB%B6%84%EC%95%BC%201%EC%9C%84,how%EB%A5%BC%20%EB%B0%94%ED%83%95" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[2]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> [PDF] 금성제지기계 (주)회사 소개</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.ut.ac.kr/cmm/fms/FileDown.do?atchFileId=FILE_000000000127779&fileSn=0</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.royalinckr.com/#:~:text=At%20Royal%20INC,in%20advancing%20Bangladesh%27s%20industrial" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[4]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Home | ROYAL INC.</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.royalinckr.com/" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.royalinckr.com/</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.enfpaper.com/gspt#:~:text=Formers%2C%20Headboxes%2C%20Presses%2C%20Dryers%2C%20Calenders%2C,Reels%2C%20Winders%2C%20Rewinders" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[5]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Goldstar Paper Tech. Ltd. - ENF Recycling Directory</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.enfpaper.com/gspt" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.enfpaper.com/gspt</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.proweldindo.com/products#:~:text=Goldstar%20Paper%20Tech" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[6]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Our Products | PT. PROWELDINDO - General Trading and Industrial Service</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.proweldindo.com/products" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.proweldindo.com/products</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=,Unwinding%20and%20reeling%20machines" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[7]</span></a><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2052.01.10%20,and%20board%20converting%20machines%2C%20misc" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[8]</span></a><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2052.04.01%20,45" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[9]</span></a><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298#:~:text=%2A%20%2060%20,51" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[10]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Gold Star Paper Tech. Ltd ♦ Korea, Chungju-Si</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.paper-world.com/en/company/gold-star-paper-tech-ltd-chungju-si-2775298</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=4y" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[12]</span></a><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view#:~:text=GSPT%20was%20supplied%20the%20complete," style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[14]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> GSPT was supplied the complete Paper machine from Stock preparation area up to Pope reel . | Hardi Wijaya</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.linkedin.com/posts/hardi-wijaya-17652636_gspt-was-supplied-the-complete-paper-machine-activity-6752379505056329728-YdoJ?trk=public_profile_like_view</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="http://gspt.co.kr/#:~:text=GSPT%3A%20Home%20GSPT%20has%20supplied,%C2%B7%20Products%20%C2%B7%20Reference" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[13]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> GSPT: Home</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="http://gspt.co.kr/" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">http://gspt.co.kr/</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=Sales%20revenue%20among%20these%20companies,friendly" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[15]</span></a><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[19]</span></a><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e#:~:text=The%20Paper%20Machine%20Headbox%20System,consistency%20and%20reduce%20production%20costs" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[20]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Comprehensive Paper Machine Headbox System Market Report: 360-Degree Analysis with SWOT and Forecast at a 10.9% CAGR from 2025 to 2032</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.linkedin.com/pulse/comprehensive-paper-machine-headbox-system-market-report-npz2e</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/#:~:text=Valmet%20has%20established%20a%20leading,sees%20Valmet%20capturing%20approximately%2010" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[16]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Site visit in Shanghai demonstrated Valmet's strong footprint in China</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.valmet.com/investors/investor-relations/ir-directors-blog/site-visit-in-shanghai/</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[17]</span></a><a href="https://kor.bizdirlib.com/node/403336#:~:text=,corporate%20family" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[21]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Goldstar Paper Tech Company, Limited. (+82-82438508500) | South Korea Business Database </span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://kor.bizdirlib.com/node/403336" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://kor.bizdirlib.com/node/403336</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.industryarc.com/Report/18570/paper-machine-systems-market.html#:~:text=Paper%20Machine%20Systems%20Market%20Size%2C,more%20Automation%20and%20Instrumentation" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[18]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> Paper Machine Systems Market Size, Share | Industry Trend ...</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.industryarc.com/Report/18570/paper-machine-systems-market.html" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.industryarc.com/Report/18570/paper-machine-systems-market.html</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.incruit.com/company/1671843250/#:~:text=%EA%B8%B0%EC%97%85%EB%AA%85%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%3B%20%EA%B8%B0%EC%97%85%EA%B7%9C%EB%AA%A8%EC%A4%91%EC%86%8C%EA%B8%B0%EC%97%85,%ED%8F%89%EA%B7%A0%EC%97%B0%EB%B4%894%2C336%EB%A7%8C%EC%9B%90" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[22]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> 2025년 금성제지기계 채용 기업정보 - 인크루트</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.incruit.com/company/1671843250/" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.incruit.com/company/1671843250/</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.jobplanet.co.kr/companies/202271/landing#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%28%EC%A3%BC%29%202025%EB%85%84%20%EA%B8%B0%EC%97%85%EC%A0%95%EB%B3%B4%20%EA%B8%B0%EA%B3%84%2F%EC%84%A4%EB%B9%84%2F%EC%9E%90%EB%8F%99%EC%B0%A8,%EC%97%B0%ED%98%81." style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[23]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> 금성제지기계(주) 2025년 기업정보</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.jobplanet.co.kr/companies/202271/landing" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.jobplanet.co.kr/companies/202271/landing</span></a></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.catch.co.kr/Comp/CompSummary/129668#:~:text=%EA%B8%88%EC%84%B1%EC%A0%9C%EC%A7%80%EA%B8%B0%EA%B3%84%20%EC%B1%84%EC%9A%A9%202025%EB%85%84%20%EA%B8%B0%EC%97%85%EC%A0%95%EB%B3%B4%20,12" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">[24]</span></a><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;"> 금성제지기계 채용 2025년 기업정보 - 평균연봉 3,739만원 | 캐치</span></p><p dir="ltr" style="line-height:1.2;margin-top:0pt;margin-bottom:0pt;"><a href="https://www.catch.co.kr/Comp/CompSummary/129668" style="text-decoration:none;"><span style="font-size:12pt;font-family:'Comic Sans MS',sans-serif;color:#156082;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">https://www.catch.co.kr/Comp/CompSummary/129668</span></a></p></b>
