Seoul, Korea -

Institution of a new bill in Korea is expected to create some replacement demand in the ATM

industry according to  a local news release last week.

Due to this bill being passed, the ATM industry in Korea is expected to garner about 10,000

units of new ATMs plus 10,000 modules upgrades throughout Korea.

Currently, Korea has 3 different types of bills equivalent to .80cents, 4 dollars and 8 dollars at

the current exchange rate which have been used for over 20 years and there has been some

demand for a bill valued at least 50 US dollars.

This new bill is set to create some demand as out of 100,000 ATMs in Korea over fifty percent

of them are cash recycling model types which require retrofitting for the new currency.  Korea

is heavily reliant on cash so it is expected that banks will feel the need to provide the service

soon to accept and dispense the new bill.

Nautilus Hyosung is slated to fulfill some ATM replacement and module change needs from

major Financial Institutions starting June this year.  "It’s about time that the new bill is

introduced finally to account for the inflation in the price and also the increase in use of cash

due to the credit crisis said the bank official."

After recent ATM replacement initiatives by the Korean Banks due to the introduction of new

currencies, all four manufacturers were the beneficiaries, especially Nautilus Hyosung having

over forty percent of the market in Korea.  "This is like an extra bonus for us when we were

not sure about the prospect of the bill being passed and due to the overall downturn in the

economy", said Lee Sung Chul, Deputy Marketing Manager at Nautilus Hyosung.