Public Disclosure

07/02/2001

Redepmtion of Redeemable Preferred Shares

Under the Korean Securities & Exchange Law on Public Disclosure Article 71, we state
the following redepmtion of redeemable preferred shares in public for your reference.

1. Specifics of Redeemable Preferred Shares
- Issued on : December 23, 2000
- Type of Shares : Redeemable Preferred Shares with rights of conversion into
common shares
- Number of Shares : 32 million shares

2. Redemption Method
- The shares are redeemed and retired by paying an amount equal to the per-share
issue price for all 32 million redeemable preferred shares from company profits

3. Redemption Payment
- Redemption Amount : 17,000 KRW/share
- Redemption Period : Upon presentation of stock certificates

4. Period for Presentation of Stock Certificates
- From June 26, 2001 until July 25, 2001

5. Date Number of Issued Shares Changes : July 26, 2001

6. Date of BOD Resolution : June 25, 2001

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