EXHIBIT
10.1

    


    English
Summary

    Of

    


    Joint
Venture Agreement


    


    Whereas,
Jinzhou Halla Electrical Equipment Co., Ltd. is a corporation established under
the laws of People’s Republic of China (“Party A” or “Jinzhou
Halla”);

    


    Whereas,
Korea Teawon Dianzhuang
Corporation is a corporation established under the law of the Republic of
Korea; (“Party B” or “Teawon Dianzhuang”) and

    


    Whereas,
Jinzhou Halla desires to make an investment to establish a joint venture company
to manufacture magnet switch for starter and Teawon Dianzhuang desires to
provide technology to establish a joint venture company to manufacture magnet
switch for starter.

    


    Now,
therefore, the parties enter into the following agreements on November 4, 2009
at Jinzhou, Liaoning.

    


    1.      Location
of the Joint Venture Company: Automobile Parts Industrial Park, Xihai
Development District, Jinzhou, Liaoning, China.

    


    2.      Name
of the Joint Venture Company: Jinzhou Wonder Teawon Co. Ltd.

    


    3.      Main
Products of the Joint Venture Company: solenoid switches for automotive
starter, alternator collector rings, starter commutators and other
automobile parts.

    


    4.      Responsibility
of Joint Venture Partners:

    
      	
               
      

            	
              -

            	
              Jinzhou
      Halla: registration of the joint venture company, operation, production,
      sales and development of parts.

            


    

    
      	
               
      

            	
              -

            	
              Teawon
      Dianzhuang: provide necessary technology and support and, if invited by
      the joint venture company, provide technology personnel to station at the
      joint venture company.

            


    

    


    5.      Capital
Structure of the Joint Venture Company:

    
      	
               
      

            	
              -

            	
              Total
      investment is U.S.$2,000,000

            


    

    
      	
               
      

            	
              -

            	
              Jinzhou
      Halla will provide cash contribution of U.S.$2,000,000 and hold 75% of the
      equity interest of the joint venture company; Teawon Dianzhuang will
      contribute technology and hold 25% o the equity interest in the joint
      venture company.

            


    

    


    6.      Scope
of Technology to be provided by Teawon Dianzhuang:

    
      	
               
      

            	
              -

            	
              provide
      the design for production line, drawing, DFMEA, PFMEA, control plan, etc.
      for the production of magnet S/W, slip ring and
  commutator

            


    


    
      
         


      

      
         


        
          

        

      

      
         


      

    


    
      	
               
      

            	
              -

            	
              installation
      and inspection support

            


    

    
      	
               
      

            	
              -

            	
              production
      and service support

            


    

    
      	
               
      

            	
              -

            	
              quality
      control support

            


    

    
      	
               
      

            	
              -

            	
              responsible
      for the training and related costs for manufacturing workers (48) for 6
      months

            


    

    


    7.      Time
for Establishing the Joint Venture Company: tentatively to be December 1,
2009.

    


    8.      Compensation
for Personnel from Teawon Dianzhuang:

    
      	
               
      

            	
              -

            	
              Roundtrip
      airline tickets

            


    

    
      	
               
      

            	
              -

            	
              Accommodation
      at Jinzhou

            


    

    
      	
               
      

            	
              -

            	
              If
      stationed at the joint venture company for more than 3 months, responsible
      for 50% of the monthly salary of such personnel (using the standard of
      Korean Dollar 50,000,000 per year)

            


    

    


    9.      Execution
Date of the Agreement: November 4, 2009.

    


    
      
        
          	
                  Jinzhou Halla Electrical Equipment Co., Ltd.

                	 
      	
                  Korea Teawon Dianzhuang Corporation

                	 
      
	 	 	 	 
	
                  /s/ Yongdong Liu

                	 
      	
                  /s/ Huangzhong Xu