Unassociated Document


    
      	
              NUMBER

              U-__________

               

            	 	 	 	
              UNITS

            
	
              SEE
                REVERSE FOR CERTAIN DEFINITIONS

            	
              KOREA
                MILESTONE ACQUISITION CORPORATION

            	 
	 	 	
              CUSIP
                XXXXXX
                XXX

            


    

     

    


    UNITS
      CONSISTING OF TWO ORDINARY SHARES AND ONE WARRANT TO 
PURCHASE ONE ORDINARY
      SHARE 

    


    THIS
      CERTIFIES THAT
      ____________________________________________________________________________________________

    


    is
      the
      owner of _____________________________________________________________________________________________
      Units.

    


    Each
      Unit
      (“Unit”)
      consists of two (2) ordinary shares, par value $.0001 per share (“Ordinary
      Shares”),
      of
      Korea Milestone Acquisition Corporation, a Cayman Islands corporation (the
      “Corporation”),
      and
      one warrant (the “Warrant”).
      Each
      Warrant entitles the holder to purchase one (1) Ordinary Share for $6.00 per
      share (subject to adjustment). The Ordinary Shares and Warrants comprising
      the
      Units represented by this certificate shall commence separate trading on the
      90th
      after
      the date of the prospectus relating to the Corporation’s initial public
      offering, provided that in no event may the Ordinary Shares and Warrants be
      traded separately until the Corporation has filed a Report of Foreign Private
      Issuer on Form 6-K that includes an audited balance sheet reflecting its receipt
      of the gross proceeds of its initial public offering of securities. The terms
      of
      the Warrants are governed by a Warrant Agreement, dated as of ___________,
      2008,
      between the Corporation and Continental Stock Transfer & Trust Company, as
      Warrant Agent, and are subject to the terms and provisions contained therein,
      all of which terms and provisions the holder of this certificate consents to
      by
      acceptance hereof. Copies of the Warrant Agreement are on file at the office
      of
      the Warrant Agent at 17 Battery Place, New York, New York 10004, and are
      available to any Warrant holder on written request and without cost.


    


    This
      certificate is not valid unless countersigned by the Transfer Agent and
      Registrar of the Corporation.

    


    Witness
      the facsimile seal of the Corporation and the facsimile signatures of its duly
      authorized officers.

    


    
      	
               

               

              By:__________________________________

              Sang
                Chul-Kim, CHAIRMAN

            	
              KOREA
                MILESTONE ACQUISITION CORPORATION

              CORPORATE

              CAYMAN
                ISLANDS

              SEAL

              2008

            	
               

               

              By:__________________________________

              Soo
                Hyung Lee, SECRETARY

            


    

    


    CONTINENTAL
      STOCK & TRANSFER COMPANY,

    as
      transfer agent and registrar

    


    By:_______________________________

    Steven
      Nelson, Chairman

    


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    KOREA
      MILESTONE ACQUISITION CORPORATION

     

    The
      Company will furnish without charge to each shareholder who so requests, a
      statement of the powers, designations, preferences and relative, participating,
      optional or other special rights of each class of shares or series thereof
      of
      the Company and the qualifications, limitations, or restrictions of such
      preferences and/or rights. 

    


    The
      following abbreviations, when used in the inscription on the face of this
      certificate, shall be construed as though they were written out in full
      according to applicable laws or regulations: 

     

    
       TEN
        COM - as tenants in
        common                    
UNIF GIFT MIN ACT - ____________   Custodian
        ____________

    

    
       TEN
        ENT -   as tenants by the
        entireties                                                              
(Cust)                                   
(Minor)

      
          JT
          TEN -      as joint tenants with right of
          survivorship under Uniform Gifts to Minors Act of
          ______________________

                           and
          not
          as tenants in
          common                                                           
                  (State)

      

    

     

    


    Additional
      Abbreviations may also be used though not in the above list.

     

     

     

    For
      value received, ___________________________ hereby sell, assign and transfer
      unto

    


    PLEASE
      INSERT SOCIAL SECURITY OR OTHER

    IDENTIFYING
      NUMBER OF ASSIGNEE

     

    ______________________________

    
      


    

    
 

    
      	 
	
               (PLEASE
                PRINT OR TYPEWRITE NAME AND
                ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

            
	 
	 
	 	 Units
	 	
            
	represented by the within Certificate,
              and do hereby irrevocably constitute and appoint	 
	 	 
	 	Attorney
	to transfer the said Units on the
              books
              of the within named Corporation with full power of substitution in
              the
              premises.	 


    

     

     

    Dated
      _______________

    


     

    
      	 	
               

            	 
	 	
              Notice:  
                

            	
              The
                signature to this assignment must correspond with the name as written
                upon
                the face of the
                certificate in every particular, without alteration or enlargement
                or any
                change whatever.

            


    

     

     

    Signature(s)
      Guaranteed:

     

    _____________________________________________________________________

    THE
      SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
      INSTITUTION

    (BANKS,
      STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH

    MEMBERSHIP
      IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,

    PURSUANT
      TO S.E.C. RULE 17Ad-15).