<PAGE>

                                                                    EXHIBIT 4.11

                                                           [ENGLISH TRANSLATION]

           AGREEMENT ON PROVISION OF TRANSFERRED FACILITIES FOLLOWING
                            ASSET TRANSFER AGREEMENT

THIS AGREEMENT ON PROVISION OF TRANSFERRED FACILITIES FOLLOWING ASSET TRANSFER
AGREEMENT (hereinafter referred to as "this Agreement") is made and entered into
by and between Korea Thrunet Co., Ltd. (hereinafter referred to as "Thrunet")
and Powercomm Co., Ltd. (hereinafter referred to as "Powercomm") in connection
with the provision of transferred facilities for use in Thrunet's broadband
Internet service as follows, in order to clearly perform the terms and
conditions of the Asset Transfer Agreement (hereinafter referred to as "the
Asset Transfer Agreement") that was made and entered into on July 31, 2002.

                                  July 31, 2002

[SEAL AFFIXED]

Korea Thrunet Co., Ltd.

1338-5 Seocho-dong, Seocho-gu, Seoul

CEO: Lee Hong-sun

[SEAL AFFIXED]

Powercomm Co., Ltd.

891 Daechi-dong, Gangnam-gu, Seoul

CEO: Seo Sa-hyun

     1.   USE OF TRANSFERRED ASSETS FOLLOWING THE TRANSFER OF THE ASSETS

          A.   Upon completion of the transfer of the assets pursuant to the
               Asset Transfer Agreement, the initial term of this Agreement
               shall be 3 years from the effective date of the transfer, and the
               term of this Agreement shall be automatically extended for every
               3 years on the same terms and conditions unless a party gives a
               written notice at

                                        1

<PAGE>

               least 3 months prior to the expiration date.

          B.   In connection with the provision of the transferred assets under
               Clause A, Powercomm shall grant Thrunet exclusive rights of use
               for its broadband Internet access service from the effective date
               of transfer until December 31, 2002, provided, however, that for
               the Bucheon, Anyang and Ulsan areas, such rights of use shall be
               valid until October 31, 2002.

          C.   The fees for the use of facilities under Clause A shall be
               applied as follows.

               (1)  The usage fees for subscribers (approximately 275,000 ID) as
                    of the effective date of the transfer of the HFC network
                    shall be 20% of Thrunet's basic sales revenue (excluding
                    VAT) , and if the number of subscriber IDs exceeds the
                    number of subscriber IDs as of the effective date of
                    transfer, the fee shall be calculated by applying 17% of
                    basic sales revenue (excluding VAT). However, if Thrunet
                    wishes to amend the subscriber fees, it shall consult with
                    Powercomm one month in advance, and in the event that such
                    fees will be reduced by 5% or more in comparison to
                    competing providers, Powercomm's consent shall be obtained.

               (2)  The calculation of the usage fees for 1 year from the
                    effective date of transfer of the HFC network shall be per
                    ID monthly fees (excluding VAT) based on the cable TV
                    broadcasting areas, and the usage fee is to be calculated by
                    discounting 7% from the total amount as set forth below.

                    (A)  Up to 10,000 ID for each cable TV broadcasting area:
                         Won 5,500 won

                    (B)  From the portion exceeding 10,000 ID to 15,000 ID for
                         each cable TV broadcasting area: Won 5,250

                    (C)  From the portion exceeding 15,000 ID to 20,000 ID for
                         each cable TV broadcasting area: Won 5,000

                    (D)  From the portion exceeding 20,000 ID to 25,000 ID for
                         each cable TV broadcasting area: Won 4,750

                    (E)  For the portion exceeding 25,000 ID for each cable TV
                         broadcasting area: Won 4,500

                                       2

<PAGE>

* Example of fee application: In the event of 18,000 ID in one cable TV
broadcasting area:

(a) Apply Won 5,500 up to 10,000 ID

(b) Apply Won 5,250 for 5,000 ID in excess of 10,000 ID to 15,000 ID

(c) Apply Won 5,000 for 3,000 ID exceeding 15,000 ID or more

(d) {[(a)+(b)+(c)] - [(a)+(b)+(c)]x7%} x VAT = Payment Amount

                    D.   The usage fee under Clause C is immediately applicable
                         from the effective date of transfer, and Thrunet shall
                         submit to Powercomm a statement necessary for Powercomm
                         to claim such fees based on the end of the applicable
                         month, by the 10th day of the following month. Such fee
                         shall be paid to Powercomm in cash by the end of the
                         following month.

               2.   ALLOCATION OF FREQUENCY

                    A.   Powercomm shall allocate the upstream and downstream
                         bandwidth frequency to Thrunet in connection with the
                         use of the transferred assets of Thrunet under Article
                         1.

                         (1)  Upstream Frequency

                              (A)  Primarily 100 subscribers shall be accepted
                                   by 1.6 MHz bandwidth frequency, and Powercomm
                                   shall allocate 6 channels of 1.6 MHz from
                                   20~42 MHz bandwidth per cell.

                              (B)  In the event that the subscribers of Thrunet
                                   exceed or fall short of the foregoing
                                   criteria, Powercomm shall separately make
                                   additional frequency allocation or cell
                                   divisions (CMTS increase for Thrunet) or get
                                   back the frequency from January 1, 2003.

                              (C)  However, Powercomm shall allow Thrunet to use
                                   the upstream bandwidth frequency (9.6 MHz ~
                                   12.8 MHz) that was used at the time of the
                                   effective date of transfer until December 31,
                                   2002.

                         (2)  Downstream Frequency: Powercomm shall allocate
                              four 6MHz channels above 450 MHz bandwidth
                              frequency. However, if one cell of downstream
                              frequency (6MHz) exceeds 600 subscribers, the
                              additional frequency allocation or cell division
                              shall be implemented.

                    B.   Thrunet shall complete the adjustment of bandwidth
                         frequency within

                                       3

<PAGE>

                         2 months from the effective date of transfer in
                         accordance with the allocation of frequency under
                         Clause A above.

                    C.   In the event that Thrunet requires a downstream
                         bandwidth frequency to undertake additional services,
                         including VOD and GOD, after the effective date of
                         transfer for Thrunet, it shall have priority, however,
                         that the usage fee for the HFC network following the
                         additional services shall be separately agreed.

               3.   QUALITY STANDARDS AND OTHERS

                    A.   Matters on quality requirements and others following
                         the provision and use of the HFC network shall conform
                         to the SLA provided to customers prior to the date of
                         the transfer of the HFC network by Thrunet.

                    B.   Detailed information on quality criteria and damage
                         compensation shall be determined by agreement between
                         the parties within one month from the effective date of
                         transfer.

               4.   RELOCATION OF HEADEND

               In the event a party to this Agreement wishes to relocate a
               headend in which a transferred asset is located, due to the new
               construction of an independent headend, expiration of the term of
               a leased headend and other causes, relevant matters such as the
               relocation place, time and other matters shall be determined by
               agreement between the parties on the principle of good faith. In
               such event, the overall expenses required for the transfer and
               re-installment of facilities following the relocation of a
               headend, shall be paid by the owner or the party in possession
               for such facility.

               5.   LEASE OF HFC NETWORK OF OTHER COMPANIES

               During a term of 10 years from the date of entering into this
               Agreement, Thrunet shall not lease the HFC network of other
               companies in the areas where the transferred assets are located
               for so long as Thrunet is leasing and using the transferred
               assets from Powercomm, except if Thrunet is already leasing a
               network pursuant to an agreement executed with a third party
               prior to entering into this Agreement, and there is an inevitable
               expansion of such network within the same territory (including
               renewal of such agreement after entering into this Agreement).

                                       4

<PAGE>

               6.   TERMINATION OF THIS AGREEMENT

                    A.   This Agreement may be terminated during the term of the
                         Agreement by a party in the event that the other party
                         is in breach of this Agreement without just cause, and
                         does not take remedial action within one month from the
                         time of receipt of the notification to cure the
                         default.

                    B.   In the event of a termination under Clause A of this
                         Article, the terminating party shall give a
                         notification one month prior to the termination.

                    C.   The provision of Article 4 (Termination) of the Cable
                         TV Network Service Agreement (March 25, 1999) for the
                         provision of value-added services already entered into
                         by the parties shall not be applicable under this
                         Agreement.

               7.   VALIDITY OF AGREEMENT, etc.

                    A.   This Agreement shall have priority over the Asset
                         Transfer Agreement, and with respect to the matters not
                         specified under this Agreement, the Asset Transfer
                         Agreement, the Cable TV Network Service Agreement
                         (March 25, 1999) entered into for the provision of
                         value-added services, and the Agreement on Provision of
                         HFC Network (January 19, 2001) shall apply to the
                         extent that the terms and conditions of such agreements
                         doe not amend, reduce, expand, contradict nor interfere
                         with the content and scope of application of this
                         Agreement, except for those matters that may not be
                         applicable due to their nature.

                    B.   This Agreement shall be valid from the date that the
                         representatives of both parties affix their seals
                         hereto.

                    C.   To witness the entering of this Agreement, two copies
                         of this Agreement shall be prepared and each party
                         shall obtain and keep a copy.

                                       5