Document:

Exhibit 10.3

                                    CONTRACT

This contract shall be entered into between Cusco located in 1467-80 Seocho-Dong
Seocho-Gu, Seoul, Korea (hereinafter referred to as "Cusco") and Leozone located
in  102  1st  Floor, 237-19 Yongdu-Dong Dongdaemun-Gu, Seoul, Korea (hereinafter
referred  to  as  "Leozone")  and  be concerned with prescribing the work scope,
rights  and  duties when the service of "Leozone" for the development and design
of the traffic and transportation means (mobile vehicles, monorails, etc.) to be
available  internally  and externally in the theme park complex for the users of
MGM  Studio  City  (the  theme  park  project)  propelled  by  "Cusco"

Article  1  (Project  of  "Cusco")
The  project  for MGM Studio City, the theme park propelled by "Cusco", shall be
as  follows.

A.  Main  Facilities
1)     MGM  Studio  Park  (the  Hollywood  type  theme  park)
2)     MGM  Hollywood  Way  (commercial  facilities  such  as food and beverage,
       entertainment,  retail,  etc.)
3)     Accommodation  facilities such as MGM Hollywood Hotel, condominiums, etc.
4)     Water  park
5)     The  other  facilities  related  to  MGM  Studio  City

B.  Expected  Open  Date:  The  first  half  of  2011

C.  The  expected  land for the theme park project: About 300 thousand pyeong in
the  metropolitan  area  (changeable  according to the circumstances of "Cusco")

D.  Expected  Number  of  Users:  Minimum  7  to  10  million  persons  annually

Article  2  (Service  of  "Leozone")
As  for  the  traffic  and transportation means (mobile vehicles, monorails, and
electric vehicles) to be available internally and externally in the park for the
users  of  the  theme  park  propelled  by  "Cusco"  of  Article 1 stated above,
"Leozone" shall render to "Cusco" the services such as research and development,
economic  feasibility  of  the  moving  path and the operation system, technical
feasibility  study,  etc.

Article  3  (Work  Performance  Procedures  and  Scope  of  "Leozone")
"Leozone"  shall provide the service for "Cusco" according to the following work
procedures  and  scope to perform the work of each provision of Article 2 stated
above.

<PAGE>

A.  Research and Market Survey
    --------------------------
"Leozone"  shall  do  a  market  survey  on the traffic and transportation means
systems  (monorails, mobile vehicles, electric vehicles, etc.) being operated in
domestic  and  overseas  main  theme  parks, entertainment facilities, amusement
parks,  and  other  large-scale  visitor  collection  facilities to supply it to
"Cusco".  The  survey  details  shall  have  to  include  the  following.

1)     Types  and  strong  and  weak  points of a transportation (traffic) means
2)     Maximum  number  of  persons  that  can  be  transported  for  n  hour
3)     Introduction  (manufacturing)  cost  and  maintenance and repair expenses
4)     Persons  needed  to  maintain  the  relevant  system
5)     Laws  related  to  safety

B.  Selection  of the Model of Transportation (Traffic) Means and Development of
    ----------------------------------------------------------------------------
the  Operation  System
----------------------
"Leozone"  shall have to develop the separate technology of each following item,
design  the  integrated system, and provide for "Cusco" the model for investment
expenses,  maintenance,  and  repair  accordingly  in  parallel  with the market
survey.

1)     Forecasting  the moving paths of the users inside MGM Studio City and the
       demand  for  each  hour
2)     Simulating  each transportation (traffic) means and developing the system
3)     Calculating  the  development  expenses, construction expenses, operation
       expenses,  etc.
4)     Planning  to  design  and  develop  the  selected  transportation  means
       (monorails  and  mobile  vehicles)
5)     Preparing  the  vendor list and carrying out buying negotiations as proxy
6)     Supervising  the  facility  construction

C.  Developing  and  Testing  the  Operation  System
    ------------------------------------------------
After  "Leozone"  fixes  the model for the transportation means through the site
survey  based  on  the master plan and business plan of "Cusco" at the same time
when  the  land for the project of "Cusco" is fixed, "Leozone" shall develop and
internally  or  externally  manufacture the prototype for the model or the model
similar  to  it.  However,  "Cusco"  shall  bear the expenses for developing the
prototype  or  model.

Article  4  (Contract  Period)

<PAGE>

This contract shall be effective from the signed date to Dec. 31, 2010. However,
if  the  contract  period  should change due to the unavoidable circumstances of
"Cusco"  and "Leozone", the change shall be decided with a mutual agreement, and
the  additional  expenses  occurring  due  to  this  reason  shall  be agreed on
separately.

Article  5  (Contract  Amount  and  Payment  Standards)
The  contract  amount  to be paid to "Leozone" by "Cusco" based on this contract
shall  be  paid  on  the  basis  of  the  following  standards.

A.     Research  and  Market  Survey:  200  million  KRW  (KRW  200,000,000)
B.     Forecasting  of  Moving  Paths  and  Design  and  Development  of  the
       Transportation  System:  1  billion  KRW  (KRW  1,000,000,000)
C.     Expenses  for  Manufacturing  the Transportation Means Model (Model): 300
       million  KRW  (KRW  300,000,000)

TOTAL  CONTRACT  AMOUNT:  IT  SHALL  BE  1  BILLION  AND  500  MILLION  KRW.

Article  5  (Scope  and  Recognition  of  Subcontract)
In  order  to successfully perform this service, "Leozone" shall possibly make a
separate  contract  with  the  third  professional  company  for  acquiring  the
technical  advisement  or requesting for technology development if necessary and
develop  the  technology and perform this contract in cooperation with the third
company.  That  case  shall have to be handled with the approval of "Cusco", and
the  expenses  occurring  from  it  shall  be  taken  care of as the expenses of
"Leozone"  without  separately  requesting  them  to  "Cusco".

Article  6  (Keeping  the  Secrets  and  Securing  the  Confidentiality)
In  any  cases,  "Cusco"  and "Leozone" shall not disclose to the third party or
competitors  the  secrets,  information,  and  intellectual  properties acquired
regarding  the  performance  of  this contract without the approval of the other
party.  The  same  principle  shall  be applied to the third business partner or
subcontractor separately contracted by "Leozone", and they shall not be possibly
used  except  for  the  purposes  of this contract. This provision shall be also
effective  after  the  expiry  of  the  contract.

Article  7  (Good  Faith  and  Mutual  Cooperation)
"Cusco"  and  "Leozone"  shall sincerely perform each provision of this contract
with  the  good  faith.
"Cusco"  shall  discuss with "Leozone" the details of carrying out a business as
proxy  and  providing the advisory service in case of the request from the other
party  and  actively  cooperate  with  each  other  on  necessary  matters.

<PAGE>
Article  8  (Termination  and  Change  of  the  Contract)
If  it  is  recognized  that  the  infringement  on  this contract by "Cusco" or
"Leozone"  makes it extremely difficult to realize the smooth performance of the
service  and  there is no remarkable improvement within the period after "Cusco"
or  "Leozone"  requests  the  improvement  on  the  matter to the other party by
determining  the  period of 10 days or more, "Cusco" or "Leozone" shall possibly
terminate this contract. "Cusco" and "Leozone" shall possibly change the details
of  this  contract  with  a  written  agreement.

Article  9  (Competent  Court)
If  there  are  matters  not  specified in this contract or disagreements on the
interpretation  of this contract, they shall be resolved with a mutual agreement
or  general business practices. In case of occurrence of the disputes related to
this  contract,  the  competent  court  shall  be  Seoul  Civil  District Court.

In order to certify this contract, two copies of the contract shall be prepared,
and  "Cusco"  and  "Leozone"  shall  sign  and  seal  them  and  keep  one  copy
respectively.

Nov.  22,  2006

"Cusco":  Cusco
Address:  11th  Floor Arirang Tower, 1467-80 Seocho-Dong Seocho-Gu, Seoul, Korea
Representative  Director:  Gun  Il  Kim

"Leozone":  Leozone
Address:  102  1st  Floor  237-191  Yongdu-Dong  Dongdaemun-Gu,  Seoul,  Korea
Representative  Director:  Jeong  Yong  LeeExhibit 10.4

                        INTERNATIONAL BUSINESS CONTRACT

THIS  CONTRACT  is  made  and  entered  into  as  of  15th  FEB  2008  between:

LEO MOTORS INC -ex: Leozone Inc. (as "PARTY A")
1004-13, Docksan-Dong, Gumcheon-Gu, Seoul, Korea

And

LEO MOTORCARS (THAILAND) CO.,LTD. (as "PARTY B")
999/2 Moo 6 Taparak Rd.,
Teparak, A,Muang, Samutprakan 10270
Thailand

                                   WITNESSETH

Based  on  preliminary  MOU,  This  International Business Contract (hereinafter
referred  to  as  "IBC')  is  made  and entered into as of 15th Feb, 2008 by and
between LEO MOTORS INC, a corporation duly organized and existing under the laws
of  Republic  of Korea and having its principal office at 1004-13, Docksan-Dong,
Gumcheon-Gu.  Seoul,  Korea(hereinafter  referred  to  as  "PARTY  A")  and  LEO
MOTORCARS  (THAILAND)CO.,LTD.,  a  corporation duly organized and existing under
the  laws of Thailand and having its principal office at 999/2 Moo 6 Teparak Rd,
Teparak,  A.  Muang,  Samutprakarn  10270  Thailand.(hereinafter  referred to as
"PARTY  B").

WHEREAS,  PARTY  A  engages in the development, manufacture and sale of Electric
Vehicles  (hereinafter "EV") and possesses certain technical information related
to  EV;  and

WHEREAS,  PARTY  B  currently  sales  many  different  models  of vehicle and is
interested  in  cooperative  relationship  with  Party  A;  and

WHEREAS,  BOTH  PARTIES  wish  to  clarify  international business contract with
regards  to  the  contents  discussed  and  consented on 15th Feb 2008 and their
further  business  relationship.

NOW,  THEREFORE,  inconsideration  of  the  foregoing  premises  and  the mutual
covenants  and  conditions  contained  herein,  both  parties  agree as follows:

<PAGE>
1.  COOPERATION  AND  INVESTMENTS

Leo Motorcars (Thailand ) Co.,Ltd.-LMT has follow: Party B has 51%, Party A has
49% of shares, both parties have 2 executives to be member of Board of Director,
and party B will name its CEO. And both parties agree to pay contribution to
capital investment of USD 100,000.- each by middle of March 2008. Additional
investment terms would be decided later.

The Parties agree to exert all efforts to fulfill their jobs assigned as seen in
a table below to implement the Project.

Job Assignment for Party A
--------------------------

-    To develop and finish working prototype of 3-wheels Electric Motorcycle
     (1st Project) by end of March 2008 and delivery to LMT.

-    To help of mass production of 1st Project.

-    An offer all the Leo Motors pro ducts and solution parts (Motor ,
     Controller, Charger etc,.) to L MT and also provide technical support and
     instruction to after sales service technicians.

-    To help homologations in Thail and.

Job Assignment for Party B
--------------------------

-    Preparation of a business plan of the Project with cash flow manag ement
     and import 2units of 3-wheels electric motorcycles and p rocess it's mass
     production in Thailand (Alloy chassis and PIastic Parts etc,.)

-    To analysis of profitability of the projects and progress sales and export.

-    To distribute Leo Motors' Products and open dealers and after sales service
     centers.

-    To open web-site by end of April 2008.

-    To register and process homologations of products for Thailand

Both Parties will do their best effort to make significant progress.

2. PRODUCTS

Party A and Party B agree to manufacture and sales electric vehicles in
Thailand. 1st Project of 3-wheel Electric Motorcycle for Thai police department
with price about USD 8,000-. First year sales estimation is 500-units minimum in
Thailand.

<PAGE>
2nd  Project- Development of "Electric TokTok-Bajai Taxi" for Thailand Market
and also for International Markets.

Party B can sales all the Leo motors products in Thailand and both companies
cooperate new project for Thailand or world.

3. SALES

The LMT will have sole agent-ship for Leo Motors products in Thailand. Both
parties will do their best efforts to export products from the LMT.

4. MISCELLANEOUS

     - Both Parties agree to keep in strict confidence and not to disclose or
reveal the Confidential Information to anyone other than Relevant Persons on an
as needed basis.

     Both Parties agree that this IBC is not intended to be a complete statement
of their agreement with respect to the Business cooperation and is not binding
upon the Parties.

\s\ Jung Yong Lee                    \s\ Ekasit Kunanantakul
-----------------                    -----------------------
Mr. Jung Yong Lee                    Mr. Ekasit Kunanantakul
Legal Representative                 Legal Representative
Leo Motors Inc.                      Leo Motorcars (Thailand) Co., Ltd.
(THE "PARTY A")                      (THE "PARTY B")

DATE:  15th  Feb  2008               DATE:  15th Feb  2008

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