PUNGGUK ETHANOL INDUSTRIAL CO.,LTD is a Korea-based company mainly engaged in the manufacture of alcohol. The Company and its subsidiaries are operates in three business segments: alcohol segment, which manufactures and sale of fermentation ethyl alcohol, distillers dried grain with soluble, liquid carbon dioxide and dry ice used for liquor manufacturing; industrial gas segment, which manufactures carbon dioxide, oxygen, nitrogen and argon gases used for welding, and hydrogen gas segment, which manufactures hydrogen gas and acetylene gas. As of December 31, 2011, the Company had three affiliated companies.