Chronology of the tug of war

Chronology of the tug of war

June,1990: Apkindo appointed 22 importers in Seoul as the Recommended
Korean Buyers.

August, 1992: Apkindo reduced the number of recommended buyers to 19.
The other three were dismissed due to poor import performance.

July, 1993: Apkindo required all contracts with importers on the
basis of cost, insurance and freight (CIF), instead of the previous C&F
system, and appointed PT Tugu Pratama (partly owned by Bob Hasan ) as
the sole insurer.

October, 1993: Apkindo reduced the number of recommended buyers from
19 to 4: Sesil Trading Co. Ltd., Korin Trading Co. Ltd., Kodeco and
Sunkyung Co. Ltd.

February, 1994: Apkindo set up Indo Kor Panels Co. Ltd. in Hong Kong
as the marketing arm for the Korean market. But its function was
executed by Albacette until August.

August, 1994: Importers in Korea were notified that Sesil Industries
Co. was appointed the sole importer of Indonesian plywood, thereby
dismissing the four recommended buyers (importers). Sesil Industries
immediately gave power of attorney to Sesil Trading Co. to execute the
sole importer function.

August, 1994: The Korean Imported Plywood Association sent a letter
to the Indonesian Minister of Trade S.B. Joedono explaining the issue,
providing background information on the Korean plywood market and
warning of the problems caused by the new marketing system.

September, 1994: Sesil Trading Co. appointed five main distributors:
Sunkyung, Hyosung, Samsung, Eagon and Hyundai Wood.