**Exhibit 4.7****Securities and Exchange Act**     Wholly amended By 1976**•**12**•**22 Act No. 2920Amended By 1982**•** 3**•**29 Act No. 3541Amended By 1987**•**11**•**28 Act No. 3945Amended By 1991**•**12**•**31 Act No. 4469Amended By 1994**•** 1**•** 5 Act No. 4701Amended By 1995**•**12**•**29 Act No. 5041Amended By 1997**•** 1**•**13 Act No. 5254Amended By 1997**•**12**•**13 Act No. 5423Amended By 1998**•** 1**•** 8 Act No. 5498Amended By 1998**•** 2**•**24 Act No. 5521Amended By 1998**•** 5**•**25 Act No. 5539Amended By 1998**•** 9**•**16 Act No. 5559Amended By 1998**•**12**•**28 Act No. 5591Amended By 1999**•** 2**•** 1 Act No. 5736Amended By 1999**•** 5**•**24 Act No. 5982Amended By 2000**•** 1**•**21 Act No. 6176Amended By 2001**•** 3**•**28 Act No. 6423Amended By 2002**•** 1**•**26 Act No. 6623Amended By 2002**•** 4**•**27 Act No. 6695Amended By 2003**•**10**•** 4 Act No. 6987Amended By 2003**•**12**•**31 Act No. 7025Amended By 2005**•**12**•**29 Act No. 7762CHAPTER I GENERAL PROVISIONSArticle 1 (Purpose)The purpose of this Act is to contribute to the development of national economy by attaining wideand orderly circulation of securities, and by protecting investors through fair issuance, purchase,sale or other transactions of securities.Article 2 (Definitions)
 

 
(1) The term “securities” in this Act shall mean any of the following subparagraphs: <Amended byAct No. 4469, Dec. 31, 1991; Act No. 5254, Jan. 13, 1997>1. Government bonds;2. Municipal bonds;3. Bonds issued by a corporation which is established under a special Act;4. Corporate bonds;5. Certificates of contribution issued by a corporation which is established under a special Act;6. Stock certificates, or instruments which represent preemptive right;7. Certificates or instruments issued by a foreign corporation, etc., which have the same nature asthose referred to in subparagraphs 1 through 6 of this paragraph;8. Securities depository receipts which a person designated by the Presidential Decree issues basedon underlying certificates or instruments issued by a foreign corporation, etc.; and9. Other certificates or instruments designated by the Presidential Decree, which are similar orrelated to those referred to in subparagraphs 1 through 8 of this paragraph.(2) Such right as shall be represented by the securities referred to in each subparagraph ofparagraph (1) shall be regarded as such securities, even before certificates of such securitieshave been issued with respect to such rights.(3) The term “public offering of new securities” in this Act shall mean a solicitation of an offerto acquire securities which are issued newly under the Presidential Decree. <Amended by Act No.4469, Dec. 31, 1991; Act No. 5254, Jan. 13, 1997>(4) The term “public offering of outstanding securities” in this Act shall mean an offer to selloutstanding securities or a solicitation of an offer to buy those under the Presidential Decree.
 

 
<Amended by Act No. 4469, Dec. 31, 1991; Act No. 5254, Jan. 13, 1997>(5) The term “issuer” in this Act shall mean a person who has issued or intends to issue anysecurities: Provided, That in issuing securities prescribed in paragraph (1) 8, the term “issuer”shall mean a person who has issued or intends to issue certificates or instruments which are thebasis of such issuance. <Amended by Act No. 5254, Jan. 13, 1997>(6) The term “underwriting” in this Act shall mean an act which falls under any of the followingsubparagraphs:1. To acquire from an issuer all or a part of securities with a view to distributing, in connectionwith issuance of the securities;2. To make a contract to acquire the unsold portion of securities with an issuer in connection withissuance of the securities, in a case where there is no one else to acquire it; and3. To make arrangements on behalf of an issuer for a public offering of new or outstandingsecurities, or to participate directly or indirectly in a public offering of new or outstandingsecurities in part, for the purpose of a commission or reward.(7) The term “underwriter” in this Act shall mean any person who conducts one of the activitiesreferred to in subparagraphs of paragraph (6). <Amended by Act No. 5423, Dec. 13, 1997>(8) The term “securities business” in this Act shall mean any business which falls under any of thefollowing subparagraphs: <Amended by Act No. 5254, Jan. 13, 1997; Act No. 6423, Mar. 28, 2001;January 29, 2004>1. To buy and sell securities;2. To buy and sell securities on consignment;3. To act as an intermediary or an agent with respect to purchase and sale of securities (excludingwhat falls under subparagraph 8);4. To act as an intermediary or agent with respect to an entrustment of sale and purchasetransactions to be executed on a securities market, KOSDAQ, or market in foreign country
 

 
similar to those;5. To underwrite securities;6. To make a public offering of outstanding securities;7. To arrange for a public offering of new or outstanding securities; and8. To act as an intermediary or an agent with respect to the sale and purchase of securities andmake other sale and purchase of securities necessary for the relevant intermediary businessaccording to quotations falling under each of the following items for listed stocks or KOSDAQregistered stocks, making use of information communications networks and electronic data-processingequipment, on behalf of many persons at the same time:(a) Final quotations of the relevant stocks published by the securities market or KOSDAQ; and(b) The single price determined in such manner as prescribed by the Ordinance of the Ministry ofFinance and Economy.(9) The term “securities company” in this Act means a company which conducts securities business inaccordance with this Act.(10) and (11) Deleted. <by Act No. 6987, Oct. 4, 2003>(12) The term “securities market” in this Act shall mean a market which is established by the KoreaExchange (hereinafter referred to as the “Korea Exchange”) organized under the Korea Exchange Actthat falls under a securities market within the meaning of Article 2(1) of the same Act.<Amended Jan. 29, 2004>(13) The terms “listed corporation”, “unlisted corporation”, “stock-listed corporation” and“stock-unlisted corporation” in this Act shall mean: <Amended by Act No. 5736, Feb. 1, 1999>1. Listed corporation: issuer of securities listed on the securities market;2. Unlisted corporation: issuer of securities not listed on the securities market;
 

 
3. Stock-listed corporation: corporation which has issued stocks listed on the securities market;and4. Stock-unlisted corporation: corporation which has issued stocks not listed on the securitiesmarket.(14) The term “KOSDAQ” in this Act shall mea KOSDAQ within the meaning of Article 2(2) of the KoreaExchange Act. <Amended Jan. 29, 2004>(15) The term “KOSDAQ-registered corporation” in this Act shall mean a corporation which issuedsecurities listed on KOSDAQ d <Amended Jan. 29, 2004>(16) The term “foreign corporation” in this Act shall mean a foreign government, foreign localgovernment, foreign public institution, foreign enterprise established under foreign Acts andsubordinate statutes, international finance organization established under a treaty, or person whois designated by the Ordinance of the Ministry of Finance and Economy. <Newly Inserted by ActNo. 5254, Jan. 13, 1997; Act No. 5423, Dec. 13, 1997; Act No. 5539, May 25, 1998>(17) The term “securities-related institution” in this Act shall mean: <Amended by Act No. 5736,Feb. 1, 1999; Act No. 6987, Oct. 4, 2003>1. An institution which has been established, licensed to do operations or business, or registeredunder this Act;2. An asset operation company, trustee company or asset deposit company under the Act on Business ofOperating Indirect Investment and Assets; and3. Deleted. <by Act No. 6987, Oct. 4, 2003>(18) The term “employee stock ownership association” in this Act shall mean an organization createdafter satisfying requirements prescribed by the Presidential Decree for the purpose of promotingthe welfare of employees and enhancing their economic status through the management of stocksacquired by such employees of any stock-listed corporation, any KOSDAQ registered corporation, orany corporation, registered under Article 3, which intends to list newly its stock certificates.<Newly Inserted by Act No. 5254, Jan. 13, 1997; Act No. 6176, Jan. 21, 2000; Act No. 6423, Mar.28, 2001; Jan. 29, 2004>
 

 
(19) The term “outside director” in this Act shall mean a director who does not engage in theregular business of the relevant company and is selected and appointed under Article 54-5 or191-16. <Newly Inserted by Act No. 6176, Jan. 21, 2000; Act No. 6423, Mar. 28, 2001>Article 2-2 [Deleted Dec. 29, 1995]CHAPTER II REGISTRATION OF ISSUER OF SECURITIESArticle 3 (Registration of Issuer of Securities)Any issuer who falls under any of the following subparagraphs shall be registered with theFinancial Supervisory Commission so as to provide for a fair issuance of securities and publicdisclosure of information as to a business corporation: Provided, That the same shall not apply toissuers of securities as prescribed in Article 2 (1) 1 through 3, 4 (limited to corporate bonds asprescribed by the Presidential Decree), and 5, and of such other securities as determined by thePresidential Decree: <Amended by Act No. 3541, Mar. 29, 1982; Act No. 3945, Nov. 28, 1987; ActNo. 4469, Dec. 31, 1991; Act No. 5254, Jan. 13, 1997; Act No. 5423, Dec. 13, 1997; Act No. 5498,Jan. 8, 1998; Act No. 5736, Feb. 1, 1999; Act No. 6176, Jan. 21, 2000; Act No. 6423, Mar. 28, 2001;Act No. 6623, Jan. 26, 2002; Jan. 29, 2004>1. Deleted; <by Act No. 6623, Jan. 26, 2002>2. A corporation that is neither KOSDAQ registered corporation nor listed corporation, which intendsto make a public offering of new or outstanding securities;3. A corporation that is neither KOSDAQ registered corporation nor listed corporation, which intendsto merge with a stock-listed corporation or a KOSDAQ registered corporation;4. Deleted; <by Act No. 6623, Jan. 26, 2002>5. A corporation under incorporation which intends to make a public offering of new securities; and
 

 
6. A corporation which intends to grant the stock option pursuant to Article 189-4.Article 4 (Documents for Registration)An issuer of securities who applies for the registration pursuant to the provisions of Article 3shall file documents as determined by the Financial Supervisory Commission such as generalsituations and property conditions of the company, with the Financial Supervisory Commission. Incase where any significant matters stated in the filed documents are modified, such informationshall also be filed with the Financial Supervisory Commission. <Amended by Act No. 4469, Dec.31, 1991; Act No. 5498, Jan. 8, 1998>Article 5 (Disclosure of Documents Filed for Registration)The Financial Supervisory Commission may offer the documents filed pursuant to Article 4 for publicinspection. <Amended by Act No. 5498, Jan. 8, 1998>Article 6 (Administration of Registered Corporation)With respect to a corporation which has been registered with the Financial Supervisory Commissionpursuant to the provisions of Article 3 (hereinafter referred to as a “registered corporation”),the Financial Supervisory Commission may prescribe the criteria for sound management of theregistered corporation such as financing the corporate and improving financial structure, and makenecessary recommendations. <Amended by Act No. 5498, Jan. 8, 1998>