Global Refund Group is a leading supplier of financial services for the merchant market. Global Refund
has a presence in 37 countries, with over 200 international cash refund offices on five continents
supporting clients in Europe, Asia, Australia and the Americas.

CJSW delivered a boost to Korean inbound tourism by launching Global Refund in Korea for the first time,
following negotiations with the Ministry of Finance and Economy, National Tax Office and Ministry of
Culture and Tourism. The program provided for a 10% VAT refund to foreign visitors on products purchased
in Korea, providing an additional factor to increase tourism expenditures.