Unassociated Document


    Exhibit
      10.12


    
 

    __________________,
      2008

    


    


    Broadband
      Capital Management LLC

    712
      Fifth
      Avenue, 49th Floor

    New
      York,
      NY 10019

    


    Re:
      Korea
      Milestone Acquisition Corporation 

    


    Gentlemen:
      

    


    This
      letter will confirm the agreement of the undersigned to purchase warrants
      (“Warrants”) of Korea Milestone Acquisition Corporation (“Company”) included in
      the units (“Units”) being sold in the Company’s initial public offering (“IPO”)
      upon the terms and conditions set forth herein. Each Unit is comprised of two
      shares of common stock of the Company (“Common Stock”) and one Warrant. The
      shares of Common Stock and Warrants will not be separately tradable until the
      90th
      day
      after the date of the prospectus relating to the Company’s IPO, unless Broadband
      Capital Management LLC (“Broadband”) informs the Company of its decision to
      allow earlier separate trading. 

    


    The
      undersigned agrees that this letter agreement (which may be evidenced by
      original or facsimile counterpart signatures hereto) constitutes an irrevocable
      order for Daewoo Securities Co., Ltd. (the “Broker”) to purchase for the
      undersigned’s account during the period commencing on the later of (i) the date
      separate trading of the Warrants commences (“Separation Date”) and (ii) 60
      calendar days after termination of the “restricted period” in connection with
      the Company’s IPO under Regulation M under the Securities Exchange Act of 1934,
      as amended (the “Exchange Act”), and ending on the date that is one year after
      the consummation of the IPO (such period is hereinafter referred to as the
      “Purchase Period”) up to 5,000,000 Warrants (“Maximum Warrant Purchase”). The
      undersigned further agrees that this letter agreement constitutes an irrevocable
      limit order at a price of $2.00 per Warrant. The Broker shall provide to
      Broadband, on a monthly basis, statements confirming that there are sufficient
      funds in the brokerage accounts where the Warrants will be purchased to satisfy
      the Maximum Warrant Purchase. The Broker agrees to fill such order in such
      amounts and at such times as it may determine, in its sole discretion, during
      the Purchase Period and in compliance with as many of the conditions as possible
      of Rule 10b-18(b) (as if applicable to warrants) and in compliance with
      Regulation M under the Exchange Act and all applicable laws. 

    


    The
      undersigned may notify the Broker that all or part of the Maximum Warrant
      Purchase will be made by an affiliate of the undersigned (or another person
      or
      entity introduced to the Broker by the undersigned (a “Designee”)) who (or
      which) has an account with the Broker and, in such event, the Broker will make
      such purchase on behalf of said affiliate or Designee; provided, however, that
      the undersigned hereby agrees to make payment of the purchase price of such
      purchase in the event that the affiliate or Designee fails to make such payment.
      

    


    The
      Broker will promptly notify the undersigned of any purchase of Warrants
      hereunder so that the undersigned can comply with applicable reporting
      requirements, if any, on a timely basis. 

    The
      undersigned agrees that he shall not sell or transfer the Warrants until after
      the consummation of a merger, capital stock exchange, asset acquisition or
      other
      similar business combination with an operating business and acknowledges that,
      at the option of Broadband, the certificates for such Warrants shall contain
      a
      legend indicating such restriction on transferability. 

    


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      Company and the Broker shall provide to the Securities and Exchange Commission
      (the “Commission”) promptly upon request, and in no event more than 30 days of
      such request, a daily time-sequenced schedule of all Warrant purchases made
      pursuant to this letter agreement, on a transaction-by-transaction basis,
      including: (i) size, broker (if any), time of execution, price of purchase;
      and
      (ii) the exchange, quotation system, or other facility through which the warrant
      purchase occurred. In addition, representatives of the Company and the Broker
      shall be made available (in person at the offices of the Commission in
      Washington, DC or by telephone) to respond to inquiries by the Commission
      regarding their purchase(s).

    
      	 	 	 
	 
 	 
 	
              Very
                truly yours,

 
	 	 	 
	 	
              

              Sang-Chul
                Kim

            


    

     

    
      	
              ACKNOWLEDGED
                AND AGREED:

                BROADBAND
                  CAPITAL MANAGEMENT LLC

              

            	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	 	
              

              Name:

              Title:

            	 	 	
            


    

     

    
      
        	
                
                  
                    DAEWOO
                      SECURITIES CO., LTD.

                  

                

              	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	 	
                

                Name:

                Title: