Korean Sontec has planned to establish a Chinese RFID company in March 2006 with China's Shanghai Changfeng Smartcard and four Japanese companies, which are Softbank, Tokyo Electric Power, Toyota, and Nippon Steel. The new company, known as Sontec China, will focus on production of metal tags intended for special industries. Sontec will put down 10 billion won for a 30% stake while Shanghai Changfeng Smartcard will invest 50,000 won for a 15% share. Sontec has also considered setting up a RFID company in Japan with it Japanese partners.