Document:

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                                                                   [Translation]

             ENFORCEMENT DECREE OF THE TELECOMMUNICATIONS BASIC LAW
       (Presidential Decree No. 17659, partially amended on June 29, 2002)

                          CHAPTER 1. GENERAL PROVISIONS

Article 1. Purpose

The purpose of this Enforcement Decree is to determine necessary matters
delegated by the Telecommunications Basic Law (hereinafter referred to as the
"Law") and matters concerning its execution.

Article 2. Definitions

Definitions of terms used in this Enforcement Decree are as set forth under the
Law.

              CHAPTER 2. PROMOTION OF TELECOMMUNICATIONS TECHNOLOGY

Article 3. Deleted (on February 22, 1997)

Article 4. Financial Aid for Research Institutes

(1)  The Minister of Information and Communication may set aside a fund in the
     budget for financial aid under Article 10, Paragraph (2) of the Law and for
     research fund support under Article 11, Paragraph (2) of the Law.

(2)  Specific matters concerning a method/procedure for financial aid and
     execution of research projects will be determined by the Minister of
     Information and Communication.

Article 5. Subjects and Methods of Guidance/Development

(1)  Research institutes which are to be guided and developed by the Ministry of
     Information

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     and Communication under Article 10, Paragraph (4) of the Law are as
     follows:

     a)   Korea Electronics and Telecommunications Research Institute
          established in accordance with Article 8 of the Law on the
          Establishment, Operation and Fosterage of Government-Invested Research
          Institute;

     b)   Research institutes designated by the Minister of Information and
          Communicationamong research institutes whose aim is to conduct
          research on telecommunications-related issues;

     c)   Institutes or organizations executing R&D projects or
          teaching/training concerning telecommunications; and

     d)   Corporate body or organizations collecting, investigating and
          disseminating telecommunications-related information.

(2)  Methods of guidance/development of research institutes under Paragraph (1)
     are as follows:

     a)   Financial aid for basic research and implementation of special
          projects in the area of telecommunications;

     b)   Teaching/training aid to raise the level of technical manpower in
          telecommunications sectors;

     c)   Provision of technical information related to telecommunications; and

     d)   Assistance to cooperation with other research institutes/organizations
          or international organizations.

(3)  The following funds are provided for the research institutes in Paragraph
     (1), Items a) and b):

     a)   R&D funds for telecommunications technology and policies;

     b)   Construction costs of facilities required for R&D; and

     c)   Other basic funds required for the operation of such institutes.

Article 6. Selection of Research Topics

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Research topics that the Minister of Information and Communication can select
according to the provision of Article 11, Paragraph (2) of the Law are as
follows:

     a)   Matters concerning basic research related to telecommunications;

     b)   Matters concerning R&D of new telecommunications methods or
          technology;

     c)   Matters concerning improvement of function of telecommunications
          facilities; and

     d)   Any other matters necessary for securing core technology of
          telecommunications.

Article 7. Designation of Researchers

When the Minister of Information and Communication designates a person who will
conduct research projects under Article 11, Paragraph (2) of the Law, that
person shall make determinations according to the following priority:

     a)   One who made a proposal for relevant research topic(s);

     b)   One who has successfully accomplished research project(s) with similar
          contents to the relevant research topic(s).

Article 8. Joint Projects

The Minister of Information and Communication, if deemed necessary, may have
researchers, under Article 7, perform joint research on topics under Article 6.

Article 9. Contents of Technical Training

(1)  Contents of technical training that the Minister of Information and
     Communication shall administer under Article 13, Paragraph (2) of the Law
     are as follows:

     a)   Matters concerning application of technical standards for
          telecommunications facilities;

     b)   Matters concerning selection, application and development of new
          telecommunications methods and technology;

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     c)   Matters concerning efficient production technology for
          telecommunications facilities;

     d)   Matters concerning improvement of functions and characteristics of
          telecommunications facilities; and

     e)   Matters concerning standardized construction applied to installation
          and operation of telecommunications facilities.

(2)  Methods of technical training that the Minister of Information and
     Communication shall administer to subjects of technical training are as
     follows:

     a)   Guidance on quality control of telecommunications facilities;

     b)   Provision of technical information;

     c)   Technical training and aid for foreign technical cooperation; and

     d)   Technology transfer.

Article 10. Selection of Professional Institution for the Examination of
            Materials

(1)  In case where the Minister of Information and Communication intends to
     cause a professional institution in the telecommunications field to examine
     materials necessary for consultations between network service providers on
     the joint construction of telecommunications facilities, the Minister of
     Information and Communication shall select a professional institution which
     has expertise in the said research and is believed to be fair and
     objective.

(2)  In case where the Minister of Information and Communication has selected a
     professional institution to examine materials in accordance with Paragraph
     (1) above, he/she shall notify the relevant network service providers of
     this fact.

Article 11. Deleted (on February 22, 1997)

                    CHAPTER 3. TELECOMMUNICATIONS FACILITIES

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Article 12. Deleted (on February 22, 1997)

Article 13. Deleted (on February 22, 1997)

Article 14. Report for Personal Telecommunications Facilities

(1)  Anyone who desires to install personal telecommunications facilities in
     accordance with the provisions of Article 20 of the Law must submit a form
     of report containing the following Items to the Minister of Information and
     Communication, as set forth by the Ministerial Decree of the Ministry of
     Information and Communication, twenty one (21) days prior to the
     commencement of installation works of such facilities:

     a)   Reporter;

     b)   Types of business;

     c)   Purpose of use;

     d)   Telecommunications methods;

     e)   Location of facilities installation; and

     f)   Summary of facilities.

     g)   (Scheduled) date of operation of facilities.

(2)  "Important matters designated by the Presidential Decree" in the latter
     part of Article 20, Paragraph (1) of the Law shall mean the matters
     regarding Paragraph (1), Items b) through f).

(3)  In case anyone who has reported for the installation of personal
     telecommunications facilities would like to change any one of the Items in
     Paragraph (2), he/she must submit an alteration report form to the Minister
     of Information and Communication indicating the alterations to be made,
     twenty one (21) days prior to the commencement date for such change (in
     case where he/she desires to change any one of Items d) through f) of
     Paragraph (1), twenty one (21) days prior to the construction commencement
     date).

(4)  Deleted (on April 29, 2000)

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Article 15. Confirmation of Installation Work

(1)  Anyone who has reported the installation or alteration of personal
     telecommunications facilities pursuant to the provisions of Article 20,
     Paragraph (3) of the Law must also obtain a confirmation from the Minister
     of Information and Communication within seven (7) days from the date of
     completion of the installation or alteration construction.

(2)  Anyone who wishes to obtain a confirmation from the Minister of Information
     and Communication under Paragraph (1), shall confirm whether the facilities
     are installed appropriately in accordance with each of the following items
     and submit the report of result to the Minister of Information and
     Communication:

     a)   Technical standard under the provision of Article 25, Paragraph (1) of
          the Law; and

     b)   Content of master plan document under the provision of Article 25,
          Paragraph (3) of the Law.

Article 16. Deleted (on February 22, 1997)

Article 17. Deleted (on February 22, 1997)

Article 18. Deleted (on April 6, 1995)

Article 19. Provision of Personal Telecommunications Facilities

(1)  Anyone who has installed personal telecommunications facilities, which
     facilities were established within the area requested by the network
     service provider according to the provision of Article 21, Paragraph (2) of
     the Law, may provide any extra telecommunications facilities to network
     service providers if there is such extra capacity other than that necessary
     for his/her own telecommunications facilities.

(2)  In the case of the provision of personal telecommunications facilities to
     the network service provider under Paragraph (1), the compensation therefor
     shall be calculated based on the criteria to be determined and notified by
     the Minister of Information and Communication within the scope of the
     amount of expense spent for the construction and operation of the relevant
     personal telecommunications facilities plus any profit from the investment.

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Article 19-2. Deleted (on February 22, 1997)

Article 19-3. Facilities subject to Securing of Conduit Line

"Any facilities or building sites provided in the Presidential Decree" in
Article 30-2, Paragraph (1), Item h) of the Law refer to each of the following
items:

     a)   Passenger car terminals under the provisions of Passenger Automobile
          Transportation Business Law;

     b)   Freight terminals under the provisions of Freight Circulation
          PromotionLaw;

     c)   Complex for cooperative business of small and medium sized industry
          formed under the provisions of Law concerning Promotion of Small and
          Medium Sized Industry and Purchase of Goods;

     d)   Circulation complex developed under the provisions of Circulation
          Complex Development PromotionLaw;

     e)   Tourist resort and tourist complex formed under the provisions of
          Sightseeing Promotion Law; and

     f)   Sewer box culvert under the Sewerage Law.

Article 19-4. Coordination for Securing of Conduit Line

(1)  When the Minister of Information and Communication accepts the request of
     coordination as provided in Article 30-2, Paragraph (5) of the Law and
     prepare the draft of coordination, the Minister of Information and
     Communication shall hear the opinion of the head of relevant administrative
     agency and the parties concerned.

(2)  Following the preparation of the draft of coordination in Paragraph (1),
     the Minister of Information and Communication shall notify the parties
     concerned thereof and may recommend them to accept such draft within thirty
     (30) days or more.

(3)  When the parties concerned accept the draft of coordination provided in
     Paragraph (2), the Minister of Information and Communication shall
     establish the final coordination containing each of the following items and
     shall cause the parties concerned to affix their

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     names and seals thereon:

     a)   Number of case;

     b)   Names and addresses of the parties concerned, designated
          representatives or proxies;

     c)   Points of request of coordination;

     d)   Coordinated matters; and

     e)   Date of preparation.

Article 19-5. Designation of Integrated Operation Service Provider

(1)  To designate a network service provider who may integrate and operate
     telecommunications facilities, etc. in accordance with Article 31,
     Paragraph (1) of the Law, the Minister of Information and Communication
     shall select one of the network service providers providing
     telecommunications service in the area where the telecommunications
     facilities subject to the integrated operation are installed or in the
     neighboring area thereof, after examining each of the following items:

     a)   Human resources and organization of the network service provider;

     b)   Facilities and equipment maintained by the network service provider;

     c)   Level of technology of the network service provider; and

     d)   Financial structure of the network service provider.

(2)  To designate integrated operation service provider pursuant to Article 31,
     Paragraph (1) of the Law, the Minister of Information and Communication
     shall have the matter reviewed, in advance by the Information and
     Telecommunications Policy Review Committee ("Committee") under Article
     44-2, Paragraph (1) of the Law.

Article 20. Matters to Be Included in the Integrated Operation Plan

"Other matters set forth under the Presidential Decree" under Article 31,
Paragraph (3), Item 3) of the Law are as follows:

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     a)   Matters concerning the price of integrated telecommunications
          facilities; and

     b)   Matters concerning the personnel required for the operation of
          integrated telecommunications facilities.

Article 21. Purchase of Telecommunications Facilities

(1)  Selling prices for telecommunications facilities under Article 32,
     Paragraph (2) of the Law shall be calculated based on the appraised price
     of an appraiser pursuant to Laws concerning Public Notification of Real
     Estate Prices and Appraisal of Real Estate. However, in cases where it is
     difficult for an appraisal to be completed, selling prices can be
     calculated based on the negotiations of the involved parties.

(2)  The procedure for selling telecommunications facilities and the method of
     payment of the sales proceeds under Article 32, Paragraph (2) of the Law
     are to be determined through negotiations by the involved parties.

           CHAPTER 4. CONTROL OF TELECOMMUNICATIONS MACHINERY & TOOLS

Article 22. Deleted (on February 22, 1997)

Article 23. Deleted (on April 6, 1995)

Article 24. Deleted (on February 22, 1997)

Article 25. Destruction/Confiscation of Telecommunications Machinery and Tools

When the Minister of Information and Communication orders the destruction or
confiscation of telecommunications machinery and tools under Article 36,
Paragraph (3) of the Law, the Minister must notify same in writing, stating a
reason and period therefor.

                      CHAPTER 5. COMMUNICATIONS COMMISSION

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Article 26. Nomination of the Members of the Communications Commission

The chairman and the members of the Communications Commission, in accordance
with Article 37, Paragraph (1) of the Law (hereinafter referred to as the
"Communications Commission") shall be nominated or appointed by the President
with the recommendation of the Minister of Information and Communication.

Article 27. Management of Meetings

(1)  The chairman shall summon meetings of the Communications Commission and
     serve as its chairman.

(2)  When the chairman would like to summon a meeting, he must determine the
     date, place and agenda of the conference and notify each member of such
     Items in writing, except in emergency situations.

(3)  The Communications Commission may allow individuals with vested interests
     or advisors to attend meetings and have them state their opinions or submit
     necessary materials.

(4)  Travelling expenses may be paid to attending advisors under Paragraph (3)
     and within the limits of the budget.

Article 28. Payment of Compensation

Compensation may be paid to members of the Communications Commission; provided,
however, that this Article shall not apply to cases where a member or a public
officer is present at a meeting in relation to his/her direct business.

Article 29. Detailed Management Regulations

Necessary matters other than as set forth under this Decree concerning
management of the Communications Commission are to be determined by the
Communications Commission.

Article 30. Ruling Period

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(1)  The Communications Commission must make a ruling within sixty (60) days
     from the date of receiving a request for a ruling, in accordance with
     Article 40-2 of the Law.

(2)  In cases where a ruling cannot be made within the period specified under
     Paragraph (1) due to an unforeseeable circumstance, the ruling period may
     be extended, upon decision, but only once, within a period of no more than
     thirty (30) days.

Article 31. Ruling Documents

(1)  Rulings of the Communications Commission shall be made in writing.

(2)  In the documents containing the rulings pursuant to Paragraph (1), the
     text, reasons, and date of the ruling shall be recorded, and the chairman
     and members attending the meeting must sign, seal and send such documents
     to the involved parties.

Article 31-2. Organization of Information and Telecommunications Policy Review
              Committee, etc.

(1)  Committee shall consist of up to twenty (20) members including a chairman.

(2)  The chairman and the members of the Committee shall be appointed or
     nominated by the Minister of Information and Communication among the
     following persons:

     a)   Civil servants of the third-class or higher, or of qualifications
          equivalent thereto, of the relevant administrative organization;

     b)   One who is in charge of lecture or research on the information and
          communication-related field at a university as prescribed under the
          Higher Education Law or an authorized research institute;

     c)   Representative of an information and communication-related institute
          or organization, or one who held or has held to that date a position
          of executive for five (5) or more years in an information and
          communication-related business; or

     d)   One who bears much learning and experience on the information and
          communication.

     e)   One who is recommended by a civic organization (which means a
          nonprofit private organization under Article 2 of Nonprofit Private
          Organization Assistance Law

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(3)  The term of office of a member shall be two (2) years, which may be
     extended for a consecutive term. However, the term of office of a member
     who is designated or commissioned to a certain post shall be the term
     during which he/she holds the post.

Article 31-3. Duty of Chairman

(1)  The chairman shall manage the business of the Committee and represent the
     Committee.

(2)  If the chairman fails to perform its duty due to inevitable reasons, the
     member appointed in advance by the chairman shall conduct the duty.

Article 31-4 Meeting of the Committee

(1)  The chairman shall convene a meeting of the Committee and shall be a
     chairman of the meeting.

(2)  Meeting of the Committee shall be resolved by the attendance of the
     majority of registered members and the affirmative vote of the majority of
     attended members.

(3)  If deemed necessary, the Committee may hear the opinion of the relevant
     civil servants or experts.

Article 31-5. Executive Secretary of Committee

One (1) executive secretary shall be kept under the Committee in order to handle
the business of the Committee, and shall be appointed by the Minister of
Information and Communication among the civil servants of the Ministry of
Information and Communication.

Article 31-6. Sub-committee

If the matters referred in discussion by the Minister of Information and
Communication require expert review, a sub-committee may be established.

Article 31-7. Allowance

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Allowance shall be paid to the members who attend the Committee or sub-committee
within the scope of budget. However, a member of civil servant who attends in
direct relation to its duty shall not be paid.

Article 31-8. Detailed Rules of Operation

Necessary matters relating to the operation of Committee and the organization
and operation of sub-committee, other than those provided for in this
Enforcement Decree, are to be set forth by the chairman through the resolution
of the Committee.

                       CHAPTER 6. SUPPLEMENTARY PROVISIONS

Article 32. Procedure for Statement of Opinions

(1)  In cases where the Communications Commission would like to provide an
     opportunity for statement of opinions under Article 40-2, Paragraph (2) of
     the Law, the Commission must notify the involved individual or his/her
     proxy in writing ten (10) days prior to the designated date of statement of
     opinions.

(2)  The involved individual or his/her proxy notified under Paragraph (1) can
     make a statement in person on the designated date or submit his/her
     opinions in writing.

(3)  When the involved individual or his/her proxy makes a statement in person
     according to the provision or Paragraph (2), relevant civil servants must
     make a document of summary and have the person confirm, sign and seal it.

(4)  In a notification according to the provision of Paragraph (1), a note that
     the person will be considered not to have an intention of making a
     statement if that person does not make a statement without a justifiable
     reason to make a statement must be stated clearly.

(5)  Deleted (on December 31, 1997)

Article 33. Delegation/Commission of Authority

(1)  The Minister of Information and Communication shall delegate authority for
     the following Items to the relevant Governor of Communications according to
     Article 46, Paragraph (1) of the Law:

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     a)   Acceptance of reports for installation of personal telecommunications
          facilities under Article 20, Paragraph (1) of the Law and acceptance
          of reports for alteration thereof;

     a-2) Confirmation under Article 20, Paragraph (3) of the Law;

     b)   Orders to provide telecommunications services to persons who have
          established personal telecommunications facilities under Article 22,
          Paragraph (1) of the Law or orders to interconnect relevant facilities
          with other telecommunications facilities;

     c)   Corrective orders to persons who have installed personal
          telecommunications facilities under Article 23, Paragraph (1) of the
          Law;

     d)   Orders for the suspension of use of or the remodeling or repair of
          personal telecommunications facilities under Article 23, Paragraphs
          (2) and (3) of the Law;

     e)   Imposition or collection of penalties under Article 24 of the Law;

     f)   Orders of correction to entities who installed telecommunications
          facilities and other necessary measures under Article 27 of the Law;

     g)   Inspection of telecommunications machinery and tools under Article 36,
          Paragraph (2) of the Law (applied only to telecommunications machinery
          and tools which have failed to obtain type approval in breach of the
          main sentence of Article 33, Paragraph (1) of the Law);

     h)   Orders for the destruction or confiscation of telecommunications
          machinery and tools under Article 36, Paragraph (3) of the Law
          (applied only to telecommunications machinery and tools which have
          failed to obtain type approval in breach of the main sentence of
          Article 33, Paragraph (1) of the Law);

     i)   Receipt and inspections of reports by the entities which installed
          telecommunications facilities pursuant to Article 45, Paragraph (1) of
          the Law;

     j)   Orders of removal of illegal telecommunications facilities, and other
          necessary measures under Article 45, Paragraph (2) of the Law; and

     k)   Imposition or collection of penalties under Article 53, Paragraph (2)
          of the Law as to the person to whom Article 53, Paragraph (1), Items
          a), b), d), e), h) (applied only to the person who refuses, evades and
          hinders the investigation on telecommunications machinery and tools
          which have failed to obtain type approval in breach of the main

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          sentence of Article 33, Paragraph (1) of the Law), i) and j) of the
          Law applies.

(2)  The Minister of Information and Communication shall delegate authority for
     the following to the Head of the Radio Research Lab under Article 46,
     paragraph (1) of the Law:

     a)   Inspection or testing of whether the telecommunications facilities
          meet the technical standards under Article 25, Paragraph (5) of the
          Law;

     b)   Type approval of telecommunications machinery and tools under Article
          33, Paragraph (1) of the Law;

     c)   Designation, inspection, cancellation, suspension of business and
          supervision of the designated testing agency under Article 33-2 of the
          Law;

     d)   Deleted (on April 29, 2000)

     e)   Termination of type approval under Article 34-2;

     f)   Cancellation of type approval, cessation of manufacturing and other
          necessary measures under Article 35, Paragraph (1) of the Law

     g)   Duties relating to the investigation and testing of telecommunications
          machinery and tools under Article 36, Paragraph (2) of the Law
          (applied only to telecommunications machinery and tools which have
          obtained type approval under the main sentence of Article 33,
          Paragraph (1) of the Law);

     h)   Order of destruction or confiscation of telecommunications machinery
          and tools under Article 36, Paragraph (3) of the Law(applied only to
          telecommunications machinery and tools which have failed to indicate
          type approval in breach of Article 33, Paragraph (4) of the Law or was
          found to be defective as a result of an inspection or test under
          Article 36, Paragraph (2) of the Law); and

     i)   Hearing under Article 45-2 of the Law.

     j)   Imposition or collection of penalties under Article 53, Paragraph (2)
          of the Law as to the person to whom Article 53, Paragraph (1), Items
          c), f), g) or h) (applied only to the person who refuses, evades and
          hinders the investigation or test on telecommunications machinery and
          tools which have obtained type approval under the main sentence of
          Article 33, Paragraph (1) of the Law) of the Law applies.

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Article 34. Penalties

(1)  When the Minister of Information and Communication imposes a penalty under
     Article 53, Paragraph (2) of the Law, the Minister shall investigate and
     confirm the violations concerned and notify in writing the involved
     individual of the facts of the violation, method of appeal and the period
     of appeal and the penalty payment.

(2)  When the Minister of Information and Communication intends to impose a
     penalty under Paragraph (1), the Minister must provide an opportunity for
     the individual involved to state his/her opinions in person or in writing
     within a period of ten (10) days or longer. An involved individual is
     considered to have no opinion if a statement is not made within the
     designated period.

(3)  When deciding on the amount of a penalty, the Minister of Information and
     Communication must consider motive and the results of the violations.

(4)  The collection procedures of the penalty shall be determined by the
     Ministerial Decree of the Ministry of Information and Communication.

                                     ADDENDA

Article 1. Date of Enforcement

This Decree shall be enforced from the date of public notice.

Article 2. Interim Measures for Disposition

Dispositions, procedures or other activities performed according to the previous
Enforcement Decree of the Telecommunications Basic Law at the time of the
enforcement of this Decree are to be considered to have been performed according
to this Decree if there are relevant provisions in this Decree.

Article 3. Revision of Other Laws

(1)  The Enforcement Decree of the Korea Telecommunications Authority Law is
     revised as follows:

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     Article 12-2, Paragraph (1), Item a) is revised as follows:

     "1. Value-added service providers under the provisions of Article 7 of the
     Telecommunications Basic Law, institutes or organizations under Article 10
     of the same Law and designated testing agencies under Article 23 of the
     Enforcement Decree of the same Law"

(2)  Except for Paragraph (1), in case a provision in the previous Enforcement
     Decree of the Telecommunications Basic Law is quoted in other laws at the
     time of enforcement of this Decree and has a related provision with
     relevant contents in this Decree, the relevant provision in this Decree
     shall be considered to have substituted for the previous provision.

                            ADDENDA (April 30, 1994)

Article 1. Date of Enforcement

This Decree shall be enforced from the date of public notice.

Article 2. Interim Measures for Installation of Personal Telecommunications
           Facilities

One who has acquired a license for the installation of personal
telecommunications facilities according to the previous Enforcement Decree of
the Telecommunications Basic Law at the time of the enforcement of this Decree
and then falls under the amended provision of Article 12, Paragraph (2), Item g)
to be considered to have been notified according to the same provision.

                            ADDENDUM (April 6, 1995)

This Decree shall be enforced from April 6, 1995.

                           ADDENDA (February 22, 1997)

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Article 1. Date of Enforcement

This Decree shall be enforced from the date of public notice.

Article 2. Revision of Other Laws

(1)  The Enforcement Decree of the Urban Railway Law is revised as follows:

     "Korea Electronics and Telecommunications Research Institute" under Article
     14-2, Item b) is revised as "Korea Electronics and Telecommunications
     Research Institute."

(2)  The Enforcement Decree of the Information Promotion Basic Law is revised as
     follows:

     "Korea Electronics and Telecommunications Research Institute under Article
     31, Paragraph (1) is revised as "Korea Electronics and Telecommunications
     Research Institute."

(3)  The Enforcement Decree of the Special Research Institute Fostering Law is
     revised as follows:

     Article 3, Item m) is as follows:

     13. Korea Electronics and Telecommunications Research Institute

(4)  The Enforcement Decree of Korea Telecommunication Authority Law is revised
     as follows:

     "Korea Electronics and Telecommunications Research Institute" under Article
     10 is revised as "Korea Electronics and Telecommunications Research
     Institute."

(6)  The Enforcement Decree of Korea Telecommunication Authority Law is revised
     as follows:

     Article 9, Paragraph (3), Item e) is as follows:

     5. Korea Electronics and Telecommunications Research Institute

(7)  The Computer Network Extension and Use Promotion Law is revised as follows:

     "Korea Telecommunications Technology Association" of Article 31, Paragraph
     (3) is revised as "Korea Information and Telecommunications Technology
     Association."

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                           ADDENDA (December 31, 1997)

This Decree shall be enforced from January 1, 1998.

                             ADDENDA (June 24, 1998)

Article 1. Date of Enforcement

This Decree shall be enforced from the date of public notice.

Article 2. through Article 6. Omitted

                           ADDENDA (January 29, 1999)

Article 1. Date of Enforcement

This Decree shall be enforced from the date of promulgation.

Article 2. through Article 4. Omitted

                            ADDENDA (April 29, 2000)

Article 1. Date of Enforcement

This Decree shall be enforced from April 29, 2000.

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Article 2. Application of the Provision regarding the Term of Office of the
           Members of the Information and Telecommunications Policy Review
           Committee

           The amended provision of Article 31-2, Paragraph (3) shall apply to
           the members of Information and Telecommunications Policy Review
           Committee who are commissioned after the enforcement of this Decree.

                            ADDENDUM (June 29, 2002)

This Decree shall be enforced from July 1, 2002.

                                     - 20 -<PAGE>
                                                                   [Translation]

                       THE TELECOMMUNICATIONS BUSINESS LAW
             (Law No. 6822, partially amended on December 26, 2002)

                          CHAPTER 1. GENERAL PROVISIONS

Article 1. Purpose

The purpose of this Law is to contribute to the sound development of the
telecommunications business through proper business management and to the
promotion of public welfare by pursuing consumers' convenience.

Article 2. Definition

(1)  Terms that are used in this Law are defined as follows:

     a)   "Telecommunications service provider(s)" means the
          person(s)/party(ies) which carry out telecommunications services under
          the permit, registration or report as provided in this Law.

     b)   "Users" mean the person(s)/party(ies) who concluded a service contract
          regarding telecommunications service with Telecommunications Service
          Provider in order to obtain telecommunications services.

     c)   "Universal Services" mean the basic telecommunications services
          affordable to all Users anywhere anytime at reasonable prices.

(2)  The definitions of the terms used in this Law shall be in conjunction with
     those under the "Telecommunications Basic Law", except for the terms
     defined by Paragraph (1) above.

Article 3. Obligation to Provide Services

(1)  Telecommunications service providers shall not refuse to provide any
     telecommunications service without reasonable cause.

(2)  Telecommunications service providers shall be fair, fast, and accurate in
     providing services.

<PAGE>
(3)  Telecommunications service tariffs shall be set at a reasonable rate in
     order to promote smooth development of the telecommunications business as
     well as to allow customers to enjoy various and convenient services at a
     fair and low price.

Article 3-2. Universal Services

(1)  All telecommunications service providers shall provide universal services
     or shall compensate for any and all losses arising from such provision of
     universal services.

(2)  Notwithstanding Paragraph (1) above, the Minister of Information and
     Communication may exempt from such obligations, (i) those
     telecommunications service providers, as provided in the Decree of the
     Ministry of Information and Communication, whom it would be inappropriate
     to impose the said obligations by the nature of the telecommunications
     service, and (ii) those telecommunications service providers whose revenue
     from telecommunications services do not exceed the amount set forth in the
     Decree of the Ministry of Information and Communication within 1/100 of the
     total revenues from all telecommunications services.

(3)  The specific contents of universal services shall be determined in
     consideration of each of the following matters:

     a)   Development state of information and communication technology;

     b)   Degree of supply of telecommunications services;

     c)   Public benefit and safety;

     d)   Promotion of social welfare; and

     e)   Promotion of Informationization.

(4)  The matters necessary for the specific contents of universal services,
     designation of universal services providers, compensation for the losses
     caused by the supply of universal services and the funding for such
     compensation, etc. shall be determined by the Presidential Decree.

                     CHAPTER 2. TELECOMMUNICATIONS BUSINESS

                              I. General Provisions

<PAGE>
Article 4. Classification of Telecommunications Business

(1)  Telecommunications business is classified into network service business,
     specific service business and value added service business.

(2)  Network service businesses are those that install telecommunications line
     facilities and provide telecommunications services by using the
     telecommunications line facilities("Network Services") in types and
     contents as designated by the Decree of the Ministry of Information and
     Communication, in consideration of public interest, effect on national
     industry and necessity of stable provision of telecommunications services,
     such as cable communications or telephone calling services.

(3)  Specific service business are those that fall under any of the followings.

     a)   Business providing Network Services by using telecommunications line
          facilities of person(s) permitted for Network Service business under
          Article 5 (hereinafter referred to as "Network Service Provider"); or

     b)   Business installing telecommunications facilities in the building
          provided in the Decree of the Ministry of Information and
          Communication or providing telecommunications services by using such
          facilities in such building.

(4)  Value added service businesses are those that provide telecommunications
     services ("Value Added Services") other than the Network Services provided
     in Paragraph (2) above, with telecommunications line facilities leased from
     Network Service Provider.

                          II. Network Service Business

Article 5. Permits for Network Service Providers

(1)  Those who wish to be Network Service Providers shall obtain a permit from
     the Minister of Information and Communication.

(2)  When the Minister of Information and Communication wishes to permit a
     Network Service Provider under Paragraph (1), he/she shall proceed through
     reviews of the Information and Telecommunications Policy Deliberation
     Committee (hereinafter referred to as the "Deliberation Committee")
     pursuant to Article 44-2 of the Telecommunications Basic Law. However, such
     review is not required for the permitting minor businesses provided by the
     Decree of the Ministry of Information and Communication.

(3)  When the Minister of Information and Communication permits a service
     provider under Paragraph (1) above, he/she shall comprehensively consider
     the following matters:

<PAGE>
     a)   Whether an applicant presents a reasonable plan for Network Service
          provision;

     b)   Whether the size/scale of the telecommunications facilities of an
          applicant is adequate;

     c)   Whether an applicant has a sound financial foundation and
          technological capabilities;

     d)   Whether an applicant accomplished any technological developments
          concerning Network Services to be provided;

     e)   Whether an applicant has a technological development plan for Network
          Services;

     f)   Whether an applicant has a technological assistance plan for
          development of telecommunications services; and

     g)   Any other matters necessary for implementation of business.

(4)  The Minister of Information and Communication shall determine and notify
     the detailed criteria of review, period for application and method of
     application for each Item of Paragraph (3).

(5)  When the Minister of Information and Communication permits a Network
     Service Provider pursuant to Paragraph (1), he/she can attach conditions to
     the permit, which are necessary for the provision of services, and research
     and development for the improvement of the telecommunications industry.

(6)  Those who can be permitted as Network Service Providers pursuant to
     Paragraph (1) are limited to corporations.

(7)  Procedures regarding the permit under Paragraph (1) and other necessary
     matters are to be determined by the Decree of the Ministry of Information
     and Communication.

Article 5-2. (Deleted)

Article 6.    Disqualification of an Approval

Any person(s)/party(ies) falling under one or more of the following categories
may not obtain a Network Service Provider license under Article 5.

     a)   Foreign government or foreigner;

<PAGE>
     b)   (Deleted); or

     c)   Corporation in which any one of the following individuals owns more
          than 49/100 of the total issued and outstanding stock (limited to
          stock with voting rights and including investment equity; the same to
          apply hereinafter).

          i)   Foreign government;

          ii)  Foreigner; or

          iii) Corporation owned by foreign government or foreigner in a
               percentage exceeding that determined by the Presidential Decree.

     d) and e) (Deleted)

     f)   Corporation in which any one of the following individuals is the
          largest shareholder (an individual whose ownership ratio of stock with
          voting rights or investment equity is the highest; the same to apply
          hereinafter)

          i)   National government;

          ii)  Local autonomous organizations;

          iii) and iv) (Deleted)

     g) through i) (Deleted)

Article 6-2. Qualification for Officials, etc.

(1)  A person who falls under any of the following Items shall not be an
     official of Network Service Provider:

     a)   A person who is minor, incompetent or quasi-incompetent;

     b)   A person who is bankrupt and has not been reinstated;

     c)   A person who is subjected to a prison sentence which is heavier than
          imprisonment due to his/her violation of this Law, the
          Telecommunications Basic Law, the Radio Waves Law or the Laws on
          Promotion of Information and Communication Network Utilization and
          Information Protection, and three (3) years have not elapsed after the
          completion of the execution of the sentence (including cases when the
          execution of the sentence is deemed to be completed) or exemption from
          the execution of the

<PAGE>
          sentence;

     d)   A person who is subjected to a suspended sentence which is heavier
          than imprisonment due to his/her violation of this Law, the
          Telecommunications Basic Law, the Radio Waves Law or the Laws on
          Promotion of Information and Communication Network Utilization and
          Information Protection, and is currently under probation;

     e)   A person who is subjected to a fine due to his/her violation of this
          Law, the Telecommunications Basic Law, the Radio Waves Law or the Laws
          on Promotion of Information and Communication Network Utilization and
          Information Protection, and three (3) years have not elapsed after the
          date of such sentence; or

     f)   A person who receives a measure for cancellation of permit as set
          forth in Article 15, Paragraph (1), a measure for cancellation of
          registration as set forth in Article 28, Paragraph (1), or an order
          for cessation of business as set forth in Article 28, Paragraph (2),
          and three (3) years have not elapsed after the date of receipt of such
          measure or order. In such case, if a corporation, it shall mean the
          person who caused such measures for cancellation of permit or
          registration, or an order for cessation and its representative.

(2)  Any official who comes to fall under each category of Paragraph (1) above,
     or is proved to be a person who fell under such category at the time of
     appointment, he/she shall automatically resign from office.

(3)  Any act in which an official who resigned from office according to
     Paragraph (2) above had been involved prior to his/her resignation shall
     not lose its effect.

Article 7. Limitations on Stockholders who Own an Excess Portion of Shares

(1)  When a shareholder of the stock of Network Service Providers under the
     provisions of Article 5, Paragraph (1), falls under Article 6, Item c)
     through Item f), he/she may not exercise voting rights as to the specified
     portion or excess portion of the shares.

(2)  The Minister of Information and Communication can order correction of
     related items within the period of six (6) months when a Network Service
     Provider(s) or a shareholder(s) is subject to any Item of Article 6.

(3)  When a Network Service Provider(s) or a shareholder(s) has received a
     corrective order pursuant to the provisions of Paragraph (2), he/she shall
     correct those items within such period.

(4)  For stock falling under the provisions of Article 6, Items c) through f), a
     Network Service

<PAGE>
     Provider(s) may refuse to change the shareholders' or members' registry for
     all or the excess portion of the stock.

Article 8.  Issuance of Stock

In case of stock issued by a Network Service Provider, the stock shall be in
registered form.

Article 9.  Obligation of Commencement of Services

(1)  A Network Service Provider(s) shall install telecommunications facilities
     and commence business within the period prescribed by the Minister of
     Information and Communication.

(2)  When a Network Service Provider(s) cannot initiate service within the
     prescribed period pursuant to Paragraph (1) due to unavoidable reasons such
     as natural catastrophes, the Minister of Information and Communication can
     extend the period once upon request of the Network Service Provider(s).

(3)  (Deleted)

Article 10. Addition of Services and Permit of Alteration

(1)  When a Network Service Provider wishes to provide any additional Network
     Services other than those already permitted under Article 5, he/she shall
     obtain a permit of alteration from the Minister of Information and
     Communication pursuant to the provisions of the Decree of the Ministry of
     Information and Communication. However, when a Network Service Provider
     providing telephone services wishes to provide additional Network Services
     as prescribed by the Decree of the Ministry of Information and
     Communication by using the existing facilities without hindering the
     Network Services currently provided by him/her, he/she shall report to the
     Minister of Information and Communication.

(2)  When a Network Service Provider wishes to alter any important matters
     determined by the Decree of the Ministry of Information and Communication
     among those permitted matters under Article 5, he/she shall obtain a permit
     of alteration from the Minister of Information and Communication pursuant
     to the provisions of the Decree of the Ministry of Information and
     Communication.

(3)  The provisions of Article 5, Paragraph (5) and Article 9 shall apply
     mutatis mutandis to the permit of alteration under Paragraph (1) of this
     Article.

Article 11. Additional Business

<PAGE>
(1)  When a Network Service Provider wishes to operate another business besides
     the telecommunications service, he/she shall obtain an approval of the
     Minister of Information and Communication. However, he/she need not obtain
     approval for businesses designated by the Presidential Decree.

(2)  The Minister of Information and Communication shall give approval pursuant
     to Paragraph (1) when it is determined that an additional business under
     the provisions of Paragraph (1) will not impede the operation of
     telecommunications services and that it is necessary for the development of
     telecommunications.

Article 12. (Deleted)

Article 13. Acquisition of Business and Merger of a Corporation

(1)  Those who wish to acquire all or a part of the business of a Network
     Service Provider or to merge with a Network Service Provider, shall obtain
     the approval from the Minister of Information and Communication as
     determined by the Decree of the Ministry of Information and Communication.

(2)  When a Network Service Provider wishes to establish a new corporation to
     provide a part of its permitted Network Services, he/she shall obtain an
     approval from the Minister of Information and Communication as determined
     by the Decree of the Ministry of Information and Communication.

(3)  To issue a permit or an approval pursuant to Paragraph (1) or (2), the
     Minister of Information and Communication shall examine the following Items
     comprehensively:

     a)   Appropriateness of financial and technological capacity and business
          operation ability;

     b)   Appropriateness of management of information and communication
          resources, including frequency and telecommunication number;

     c)   Effects on the competition in Network Service business; and

     d)   Effects on the protection of users and public interest.

(4)  Any matters necessary for the detailed standards for examination and
     examination procedures for each examination item mentioned in Paragraph (3)
     above, shall be determined and notified by the Minister of Information and
     Communication.

(5)  Those who have acquired a business of a Network Service Provider or the
     corporations which either are in existence after a merger or have been
     established as a result of a merger

<PAGE>
     under Paragraph (1) above and the corporations established with the
     approval under Paragraph (2) shall inherit the duties and rights related to
     the permit of the former Network Service Provider.

(6)  To issue a permit or an approval pursuant to Paragraph (1) or (2), the
     Minister of Information and Communication may annex a proviso necessary for
     fair competition and protection of users.

(7)  When the Minister of Information and Communication intends to issue an
     approval pursuant to Paragraph (1), he/she shall discuss thereof with the
     Information and Telecommunication Policy Review Committee under Article
     44-2 of Telecommunications Basic Law and the Fair Trade Commission.

(8)  The provisions of Article 6 shall apply mutatis mutandis to the approval
     under Paragraphs (1) and (2).

Article 14. Cessation/Abolition of Business or Dissolution of Corporation

(1)  When a Network Service Provider wishes to cease/abolish its entire or a
     part of its Network Service business, he/she shall obtain an approval from
     the Minister of Information and Communication.

(2)  A resolution for dissolution of a corporation or a unanimous agreement by
     all members on dissolution of a corporation, which is a Network Service
     Provider, requires an approval of the Minister of Information and
     Communication.

(3)  The Minister of Information and Communication shall not allow an approval
     under Paragraph (1) or pursuant to Paragraph (2) when such
     cessation/abolition of business or dissolution of a corporation might
     endanger public interest.

Article 15. Cancellation of Permit

(1)  The Minister of Information and Communication can order cancellation of
     permit or order a suspension of all or a part of the business for less than
     one (1) year when a Network Service Provider falls under any of the
     followings:

     a)   When a Network Service Provider has obtained permit through fraud or
          other illegitimate means;

     b)   When a Network Service Provider does not comply with the conditions
          set out under Paragraph (5) of Article 5 and Paragraph (6) of Article
          13;

     c)   When a Network Service Provider does not comply with the orders under
          Paragraph (2) of Article 7;

<PAGE>
     d)   When a Network Service Provider has not commenced the services within
          the period set out by Paragraph (1) of Article 9 (within the extended
          period in case extension of the period was allowed under Paragraph (2)
          of Article 9);

     e)   When a Network Service Provider fails to comply with the standard
          contract approved or reported under the provision of Article 29,
          Paragraph (1);or

     f)   When a Network Service Provider has violated this Law (except for the
          provisions of Article 36-3 and Article 36-4), the Telecommunications
          Basic Law, the Radio Waves Law, or the Laws on Promotion of
          Information and Communication Network Utilization and Information
          Protection , the Basic Informationization Promotion Law, or orders
          based on such laws.

(2)  Standards, procedures and other matters required pursuant to Paragraph (1)
     shall be prescribed by the Decree of the Ministry of Information and
     Communication.

Article 16. (Deleted)

                                 III. (Deleted)

Articles 17 and 18 (Deleted)

     IV.  Specific Service Business and Value Added Service Business

Article 19. Registration for Specific Service Provider

(1)  Those who wish to do specific service business shall resister to the
     Minister of Information and Communication with the each of the following
     requirements as designated by the Decree of Ministry of Information and
     Communication.

     a)   Financial and technical capability;

     b)   Plan for protection of users; and

     c)   Business plan and other matters determined by the Decree of Ministry
          of Information and Communication.

(2)  When receiving the registration for a specific service provider, the
     Minister of Information and Communication may attach necessary conditions
     to such as provision of services or research and development for the
     development of telecommunication industry.

<PAGE>
(3)  Only a corporation may register for a specific service business as set
     forth in Paragraph (1).

(4)  Procedures, requirements and other necessary matters for registration as
     set forth in Article 1 shall be determined by the Decree of Ministry of
     Information and Communication.

Article 20.   (Deleted)

Article 21.   Report of Value Added Service Providers

Those who wish to operate Value Added Service business shall report to the
Minister of Information and Communication as designated by the Presidential
Decree. However, this report is not required for the operation of a Value Added
Service business by a Network Service Provider or for the operation of
miscellaneous businesses to be determined by the Presidential Decree.

Article 22.   Changes in Registration or Report

When a person who has registered for a specific service business pursuant to
Article 19 (hereinafter called "Specific Service Provider") or who has reported
to operate a Value Added Service business pursuant to Article 21 (hereinafter
called "Value Added Service Provider") wishes to change any item already
registered or reported, it shall register or report such changes in advance in
accordance with the Decree of Ministry of Information and Communication.

Article 23.   (Deleted)

Article 24.   (Deleted)

Article 24-2. (Deleted)

Article 25.    Transfer or Acquisition of a Business

In case of an entire or partial transfer or acquisition of Specific Service
business or Value Added Service business or merger or inheritance of Specific
Service Provider or Value Added Service Provider, the company that acquired such
business, the corporation surviving the merger, the new corporation established
as a result of the merger, or the heir shall report to the Minister of
Information and Communication as prescribed by the Decree of the Ministry of
Information and Communication.

<PAGE>
Article 26. Succession of a Business

In case of transfer or acquisition of Specific Service business or Value Added
Service business or merger or inheritance of Specific Service Provider or a
Value Added Service Provider, pursuant to the provisions of Article 25, the
company that obtained such transferred business, the corporation which survives
the merger, the new corporation established as a result of the merger, or the
heir who inherited the business also inherits all the rights and duties related
to a Specific Service Provider or a Value Added Service Provider.

Article 27. Suspension and Cessation of a Business

(1)  When a Specific Service Provider or a Value Added Service Provider wishes
     to suspend or cease all or a part of its service, he/she shall notify such
     fact to the Minister of Information and Communication and inform the
     service users of such fact thirty (30) days prior to the scheduled
     suspension or cessation.

(2)  When a corporation of a Specific Service Provider or a Value Added Service
     Provider is dissolved due to reasons other than a merger, its liquidator
     (in case of bankruptcy, a trustee) shall notify such fact to the Minister
     of Information and Communication without any delay.

Article 28. Cancellation of Registration and Order of Cessation of Business

(1)  The Minister of Information and Communication may cancel a registration or
     order a suspension of a business for a period less than one (1) year when a
     Specific Service Provider has committed any of the followings; however, the
     Minister of Information and Communication shall cancel its registration in
     each of the following Items:

     a)   When a Specific Service Provider has registered through fraud or other
          illegitimate means;

     b)   When a Specific Service Provider has not commenced service within one
          (1) year since the registered date under Article 19, Paragraph (1) or
          has ceased service for one (1) year or longer;

     c)   When a Specific Service Provider has not performed the conditions
          under Article 19, Paragraph (2);

     d)   (Deleted);

     e)   When a Specific Service Provider has not complied with a corrective
          order pursuant

<PAGE>
          to Article 65, Paragraph (1) without a justifiable cause;

     f)   When a Specific Service Provider has not performed the order pursuant
          to Article 7, Paragraph (2) applied mutatis mutandis by the provision
          of Article 6, Paragraph (2) of Addendum; or

     g)   When a Specific Service Provider has violated this Law (except for the
          provisions of Article 36-3 and Article 36-4), the Telecommunications
          Basic Law, the Radio Waves Law, or the Laws on Promotion of
          Information and Communication Network Utilization and Information
          Protection, the Basic Informationization Promotion Law or orders based
          on such laws.

(2)  The Minister of Information and Communication may order a cessation, or
     order a suspension of a business for a period less than one (1) year when a
     Value Added Service Provider has committed any of the followings; however,
     the Minister of Information and Communication shall order cessation in each
     of the following Items:

     a)   When a Value Added Service Provider has reported through fraud or
          other illegitimate means;

     b)   When a Value Added Service Provider has not commenced service within
          one (1) year since the registered date under Article 21 or has ceased
          service for one (1) year or longer;

     c)   (Deleted);

     d)   When a Value Added Service Provider has not complied with a corrective
          order pursuant to Article 65, Paragraph (1) without a justifiable
          cause; or

     e)   When a service provider has violated this Law (except for the
          provisions of Article 36-3 and Article 36-4), the Telecommunications
          Basic Law, the Radio Waves Law, or the Laws on Promotion of
          Information and Communication Network Utilization and Information
          Protection, the Basic Informationization Promotion Law or orders based
          on such laws.

(3)  Criteria, procedures and other necessary matters under Paragraph (1) or (2)
     are to be determined by the Decree of the Ministry of Information and
     Communication.

                     CHAPTER 3. TELECOMMUNICATIONS BUSINESS

Article 29. Report of Standard Contract

(1)  Any Network Service Provider shall establish terms of tariff and other
     service conditions (hereinafter called "standard contract") regarding each
     telecommunications service to be

<PAGE>
     provided and shall report (including report of any change) them to the
     Minister of Information and Communication. However, Network Service of
     which the scope of business and market share falls under the standards as
     designated by the Decree of the Ministry of Information and Communication
     shall be subject to approve (including permit for any change) from the
     Minister of Information and Communication.

(2)  (Deleted)

(3)  The Minister of Information and Communication shall approve a service
     contract pursuant to the proviso of Paragraph (1) when he/she determines
     that the service contract meets the following criteria:

     a)   The fees for the telecommunications service are fair and appropriate;

     b)   The computing method for fees is appropriate and clear;

     c)   The terms regarding the responsibility of the service providers and
          the users of networks as well as method of sharing the construction
          costs, such as for installation of the telecommunications facility and
          other construction, are appropriate and clear;

     d)   It does not unfairly restrict methods of use of the telecommunications
          line facilities by other telecommunications service provider or user;

     e)   It does not discriminate against any particular person or party; and

     f)   It takes into consideration the terms regarding the securement of
          major communications under the regulations of Article 55.

(4)  When there is a need to provide a new telecommunications service for an
     experimental purpose, the Minister of Information and Communication may
     temporarily approve a standard contract regardless of the provisions of
     Paragraph (1).

(5)  When a Specific Service Provider or a Value Added Service Provider uses
     telecommunications line facilities of a Network Service Provider, the
     standard contract under Paragraph (1) shall be applied to the uses of such
     telecommunications line facilities.

Article 30. Changes in Standard Contracts

(1)  When the Minister of Information and Communication deems that the standard
     contract is clearly unfair and thereby creates a problem in promoting
     public interest due to the changes in the social and economic environment,
     he can order a telecommunications service provider to alter a standard
     contract within a certain period after consultation with the Communications
     Commission established under Article 37 of the Telecommunications Basic Law
     ("Communications Commission").

<PAGE>
(2)  When an order of alteration is issued pursuant to Paragraph (1), the
     telecommunications service provider shall alter the standard contract
     within the specified time period.

Article 31.   (Deleted)

Article 32.   Reduction or Waiver of Fees

Network Service Providers may reduce or waive telecommunications fees as
determined by the Presidential Decree.

Article 32-2. Restrictions on Use by Others

No person shall use telecommunications service to be provided by
telecommunications service provider in order to mediate others'
telecommunications or provide it for telecommunications for others. However, the
foregoing provision shall not apply to each of the following cases:

     a)   When such mediation or provision is deemed necessary to prevent
          disaster or provide aid, to secure transportation?communication?power
          supply, and to maintain public order, under a national emergency
          situation;

     b)   When a person who conducts a business other than the
          telecommunications business, provides his/her customers with the
          telecommunications business service as an incidental service;

     c)   When a person who engages in the development and sale of
          telecommunications facilities, such as terminal equipment usable for
          telecommunications service, allow the third parties to use such
          facilities for an experimental purpose;

     d)   When a user allows a third party to use the telecommunications
          business service on a non-recurrent basis; or

     e)   Other cases as provided in the Presidential Decree, which is required
          for the interest of the public or does not result in impediment to the
          operations of telecommunications service providers.

Article 32-3. (Deleted)

Article 32-4. Use of Transmission/Line Facilities

<PAGE>
(1)  CATV broadcasting system operators, network operators or relay broadcasting
     system operators under the Broadcasting Law may provide their
     transmission/line facilities or CATV broadcasting facilities to network
     service providers, pursuant to those terms set forth in the Presidential
     Decree.

(2)  If a CATV broadcasting system operator, network operator or relay
     broadcasting system operator under the Broadcast Law wishes to provide
     Value Added Services by using its transmission/line facilities or CATV
     broadcasting facilities, it shall report to the Minister of Information and
     Communication in accordance with Article 21.

(3)  The provisions of Article 33-5 through Article 37 and Article 38 shall
     apply mutatis mutandis to the provision of transmission or line facilities
     or CATV broadcasting facilities as set forth in Paragraph (1).

(4)  The provisions of Article 25, Paragraph (2) through Paragraph (6) of the
     Telecommunications Basic Law shall apply mutatis mutandis to the provision
     of the services as set forth in Paragraph (2).

Article 33.   Consumer Protection

(1)  (Deleted)

(2)  Telecommunications service providers shall immediately process any
     complaints or just suggestions regarding telecommunications services from
     users. A telecommunications service provider shall notify a consumer of the
     reason and the plan for processing when immediate processing is not
     possible.

(3)  Compensation for any damage arising out of any suggestions or complaints in
     accordance with the provisions of Paragraph (2) or due to a delay in
     processing shall be dealt in accordance with the provisions of Article
     33-2.

Article 33-2. Compensation for Damage

If telecommunications service provider inflicts damage to the user in providing
telecommunications service, he/she shall compensate for the damage. However, if
the damage occurs due to force majeure event or due to the user's intention or
negligence, the responsibilities for compensation of the damage shall be reduced
or exempted.

Article 33-3. Procedures for Compensation for Damage and Application for Ruling

(1)  In the case of compensation for damage under Article 33-2, the compensation
     shall be made

<PAGE>
     through consultation with the person who is eligible for compensation for
     damage.

(2)  If consultation on compensation for damage as set forth in Paragraph (1)
     above is not or cannot be made, the relevant parties mayl request the
     Communications Commission for a ruling.

       CHAPTER 4. PROMOTION OF COMPETITION OF TELECOMMUNICATIONS BUSINESS

Article 33-4. Promotion of Competition

The Minister of Information and Communication shall make its efforts for
establishment of efficient competition system of telecommunications business and
for formation of fair competition environment.

Article 33-5. Provision of Telecommunications Facilities

(1)  When there is a request for provision of telecommunications facilities from
     another Network Service Provider, the Network Service Provider may provide
     other Network Service Provider with telecommunications facilities by
     executing an agreement.

(2)  Notwithstanding Paragraph (1) above, any Network Service Provider who falls
     under any of the following Items shall, upon receipt of a request as set
     forth in Paragraph (1), provide the requested telecommunications facilities
     by executing an agreement.

     a)   the Network Service Provider owns facilities that are essential other
          telecommunications service providers' provisions of telecommunications
          service; or

     b)   the Network Service Provider whose business scale or market share
          meets the standards set out in the Decree of the Ministry of
          Information and Communication.

(3)  The scope of the telecommunications facilities as set forth in Paragraphs
     (1) and (2), and the standards on terms and conditions, procedures, method
     and calculation of consideration of provision of the facilities shall be
     determined and notified by the Minister of Information and Communication.
     In this case, the scope of the telecommunications facilities to be provided
     under Paragraph (2) above shall be determined by considering the level of
     demand for the telecommunications facilities of the Network Service
     Providers falling under any Item in Paragraph (2) above.

(4)  Network Service Provider who receives telecommunications facilities may be
     equipped with equipment which may raise efficiency of the facilities within
     the limit required for providing the permitted telecommunications services.

<PAGE>
(5)  If the Minister of Information and Communication wishes to determine the
     standards as set forth in the Paragraph (3), it shall be subject to
     deliberation of the Communications Commission.

Article 33-6. Joint Use of Subscriber Line

(1)  If a Network Service Provider, owning a line installed in the segment from
     the users to the exchange facilities directly connected to such users
     ("Subscriber Line"), receives a request for joint use of the Subscriber
     Line from another telecommunications service provider as determined and
     notified by the Minister of Information and Communication, the Network
     Service Provider shall permit such joint use.

(2)  The Minister of Information and Communication shall establish and publish
     the notification regarding the standards concerning the scope, conditions,
     procedures, and methods of, and calculation of consideration for, the joint
     use of the Subscriber Line as set forth in Paragraph (1).

(3)  If the Minister of Information and Communications wishes to determine the
     standards as set forth in the Paragraph (2), it shall be subject to
     deliberation of the Communications Commission.

Article 33-7. Joint Use of Wireless Telecommunications Facilities

(1)  If a Network Service Provider receives any request for joint use of
     wireless telecommunications facilities from another Network Service
     Provider ("Joint Use"), the Network Service Provider may permit such Joint
     Use through execution of an agreement. In such case, the consideration for
     the Joint Use among Network Service Providers as determined and notified by
     the Minister of Information and Communication shall be calculated and
     settled in a fair and reasonable manner.

(2)  Notwithstanding Paragraph (1) above, for the purposes of increasing
     efficiency in telecommunications business and protecting users, if the
     Network Service Providers designated in the notification of the Minister of
     Information and Communication receives a request for joint use from another
     Network Service Providers designated in the notification of the Minister of
     Information and Communication, the relevant Network Service Providers shall
     permit such joint use by executing an agreement.

(3)  The Minister of Information and Communication shall establish and publish
     the notification regarding the calculation standard, procedures and payment
     methods of the consideration for the Joint Use as set forth in the latter
     part of Paragraph (1) and the standards concerning the scope, conditions,
     procedures, and methods of, and calculation of consideration for, the Joint
     Use set forth in Paragraph (2).

<PAGE>
(4)  If the Minister of Information and Communications wishes to determine the
     standards as set forth in the Paragraph (3), it shall be subject to
     deliberation of the Telecommunications Commission.

Article 34.   Interconnection

(1)  When there is a request for interconnection of telecommunication facilities
     from another telecommunications service provider, the telecommunications
     service provider may allow interconnection by executing an agreement.

(2)  The scope of interconnection of the telecommunications facilities as set
     forth in the Paragraph (1) and the standards on terms and conditions,
     procedures, method and calculation of consideration of interconnection of
     the telecommunication facilities shall be determined and notified by the
     Minister of Information and Communication.

(3)  Notwithstanding Paragraphs (1) and (2), Network Service Provider who falls
     under any of the following Items shall, upon receipt of the request as set
     forth in Paragraph (1), allow interconnection by executing an agreement.

     a)   If Network Service Provider possesses the facilities which are
          essential in other telecommunications service providers' provision of
          telecommunications service; or

     b)   If Network Service Provider provides Network Service of which scope of
          business and market share falls under the standards determined by the
          Decree of the Ministry of Information and Communication.

(4)  If the Minister of Information and Communication wishes to determine the
     standards as set forth in Paragraph (2), it shall be subject to
     deliberation of the Communications Commission.

Article 34-2. Consideration for Interconnection

(1)  Consideration for interconnection shall be calculated and settled in a fair
     and reasonable manner, and the detailed standards and procedures for
     calculation and method of payment shall be in accordance with the standards
     as set forth in Article 34, Paragraph (2).

(2)  If Network Service Provider is disadvantaged due to causes not attributable
     to himself/herself in respect of interconnection method, quality of
     connected call or provision of information necessary for interconnection,
     he/she may adjust the consideration by reducing the consideration for
     interconnection as determined by the standards as set forth in Article
     34-2.

<PAGE>
Article 34-3. Joint Use of Telecommunications Facilities

(1)  When there is a request for access or joint use of telecommunications
     facilities or equipments, such as conduit line, cable, electric pole or
     station of the Network Service Provider for installation or operation of
     facilities necessary for interconnection of telecommunications facilities
     from another telecommunications service provider, the telecommunications
     service provider may allow access or joint use of the telecommunication
     facilities or equipment by executing an agreement.

(2)  The scope of access or joint use of the telecommunications facilities or
     equipments as set forth in Paragraph (1) and the standards on terms and
     conditions, procedures, method and calculation of consideration for access
     or joint use of the telecommunication facilities shall be determined and
     notified by the Minister of Information and Communication.

(3)  Notwithstanding Paragraph (1), Network Service Provider who falls under any
     of the following Items shall, upon receipt of the request as set forth in
     Paragraph (1), allow access or joint use of telecommunications facilities
     or equipment by executing an agreement.

     a)   If Network Service Provider possesses the facilities which are
          essential in other telecommunications service providers' provision of
          telecommunications service; or

     b)   If Network Service Provider provides Network Service of which scope of
          business and market share falls under the standards determined by the
          Decree of the Ministry of Information and Communication.

(4)  If the Minister of Information and Communication wishes to determine the
     standards as set forth in Paragraph (2), he shall be subject to
     deliberation of the Communications Commission.

Article 34-4. Provision of Information

(1)  When a Network Service Provider receives demand for provision of technical
     information and personal information for users in order to provide
     telecommunications facilities, interconnect, jointly use, to impose,
     collect the fee and to serve the telecommunication directory information
     from other telecommunications service provider, the former may provide the
     demanded information by executing an agreement.

(2)  The scope of the provision of information as set forth in Paragraph (1) and
     the standards on terms and conditions, procedures, method and calculation
     of consideration of provision of information shall be determined and
     notified by the Minister of Information and Communication.

<PAGE>
(3)  Notwithstanding Paragraph (1), Network Service Provider who falls under any
     of the following Items shall, upon receipt of the request as set forth in
     Paragraph (1), provide demanded information of telecommunications
     facilities by executing an agreement.

     a)   If Network Service Provider possesses the facilities which are
          essential in other telecommunications service providers' provision of
          telecommunications service; or

     b)   If Network Service Provider provides Network Service of which scope of
          business and market share falls under the standards determined by the
          Decree of the Minister of the Information and Communication.

(4)  The Network Service Provider as set forth in Paragraph (3) shall determine
     technical standards, standards for use and supply and other standards
     necessary for formation of fair competition environment, which are required
     for other telecommunications service provider or user to use the
     telecommunications facilities by connecting terminal or other
     telecommunications facilities therewith, obtain an approval therefor from
     the Minister of Information and Communication, and then make a public
     notice on the standards.

(5)  If the Minister of Information and Communication wishes to determine the
     standards as set forth in Paragraph (2) or approve in accordance with
     Paragraph (4), he shall be subject to deliberation of the Communications
     Commission.

Article 34-5. Prohibition of Misuse of Information

(1)  Telecommunications service provider shall not disclose information on
     individual user which is obtained due to provision of his/her service,
     provision of telecommunications facilities or interconnection. However,
     disclosure of information with the concerned person's consent or through
     appropriate procedures under the relevant laws shall be an exception.

(2)  Telecommunications service provider shall use the information which is
     provided in accordance with Article 34-4 only for the prescribed purpose,
     and shall not improperly use the information for other purpose nor provide
     it to a third party.

Article 34-6. Report of Agreement, Including Interconnection

(1)  When there is a request for provision, joint use, interconnection or joint
     utilization of telecommunication facilities, or provision of information
     from another telecommunications service provider, the Network Service
     Provider shall conclude an agreement in accordance with Article 33-5,
     Paragraphs (1) and (2), Article 33-7, the former part of Paragraph (1),
     Article 34, Paragraph (1), Article 34-3, Paragraph (1) or Article 34-4,
     Paragraph (1) within

<PAGE>
     ninety (90) days, unless he has any special reasons, and shall report it
     to the Communications Commission. In the case of alteration or abolishment
     of agreement, the same shall apply.

(2)  Notwithstanding Paragraph (1), an agreement to which the Network Service
     Provider as set forth in Article 33-7, the latter part of Paragraph (1) and
     Paragraph (2), Article 34, Paragraph (3), Article 34-3, Paragraph (3) and
     Article 34-4, Paragraph (3) is a party shall be subject to procurement of
     approval from the Communications Commission.

(3)  Agreement as set forth in Paragraphs (1) and (2) shall be appropriate to
     the standards notified by the Minister of Information and Communication in
     accordance with Article 33-5, Paragraph (3), Article 33-7, Paragraph (3),
     Article 34, Paragraph (2), Article 34-3, Paragraph (2) or Article 34-4,
     Paragraph (2).

(4)  When it is necessary to supplement to an application for approval in
     accordance with Paragraph (2), the Communications Commission may issue an
     order of supplementation to the application within a prescribed period.

(5)  Agreement as set forth in Article 34-3, Paragraph (1) and Article 34-4,
     Paragraph (1) may be concluded by being included in the agreement as set
     forth in Article 34, Paragraph (1).

Article 35. Application for Ruling

(1)  In case an agreement on provision or joint use of telecommunications
     facilities, interconnection/joint use, or provision of information is not
     or cannot be concluded within the period specified by the provisions of
     Article 34-6, Paragraph (1), telecommunications service provider may
     request the Communications Commission for a ruling in accordance with
     Article 40-2 of the Telecommunications Basic Law.

(2)  If damage occurs arising from another telecommunications service provider's
     failure to perform an agreement on provision or joint use of
     telecommunications facilities, interconnection/joint use, or provision of
     information, telecommunications service provider may request the
     Communications Commission for a ruling to the effect of performance of
     agreement or compensation for damage.

(3), (4) and (5) (Deleted)

Article 36. Telecommunications Signals

(1)  The Minister of Information and Communication shall establish and enforce
     the Telecommunications Signals Administration Plan in order to efficiently
     provide telecommunications service, seek user's convenience and form fair
     competition

<PAGE>
     environment between telecommunications service providers.

(2)  The Minister of Information and Communication shall give a public notice
     when a plan is established pursuant to Paragraph (1). When the plan is
     altered, such fact shall be notified publicly.

(3)  Telecommunications service providers shall observe the publicly notified
     matters under Paragraph (2).

(4)  In case the Minister of Information and Communication establishes or
     changes the Telecommunications Signals Administration Plan under Paragraph
     (1), he/she shall discuss thereof with Communications Commission in
     advance.

Article 36-2. Accounting

(1)  Network Service Provider shall keep an accounting as determined by the
     Decree of the Ministry of Information and Communication, prepare the
     business report for the previous year, submit it to the Communications
     Commission by the end of March of each year, and keep and maintain relevant
     books and evidencing materials.

(2)  Where the Minister of Information and Communication determines matters on
     accounting under Paragraph (1), it shall in advance be subject to
     deliberation by the Communications Commission and consultation with the
     Minister of Finance and Economy.

(3)  The Communications Commission may verify the contents of the business
     report submitted by a Network Service Provider in accordance with Paragraph
     (1).

(4)  If it is necessary in order to conduct a verification as set forth in
     Paragraph (3), the Communications Commission may order the Network Service
     Provider to submit relevant materials or conduct an inspection necessary
     for confirmation of the facts.

(5)  In case the Communications Commission conducts a verification of the
     contents of the business report according to Paragraph (3), it shall notify
     the Minister of Information and Communication of the results thereof.

Article 36-3. Prohibited Acts

(1)  Telecommunications service providers shall not commit any of the following
     acts which deteriorate the fair competition and/or damage or threaten to
     damage users' interests (hereinafter referred to as "prohibited acts"), nor
     cause another telecommunications service provider or a third party to
     commit such an act.
<PAGE>
     a)   Unfair discrimination regarding provision, joint application, joint
          use, interconnection, joint utilization of telecommunications
          facilities, or provision of information, unreasonable refusal to
          conclude an agreement, or failure to perform an agreement without
          justifiable reasons;

     b)   Misuse of information on other telecommunications service provider
          which is obtained due to provision, joint application, joint use,
          interconnection, joint utilization of telecommunications facilities,
          or provision of information, for the purpose of its own business
          activities;

     c)   Calculation of fees for telecommunications service or consideration
          for provision, joint application, joint use, interconnection or joint
          utilization of telecommunications facilities, or provision of
          information by improperly classifying costs or proceeds;

     d)   Provision of telecommunications service not in compliance with the
          standard contract or in a manner which is significantly contrary to
          the users' interest; or

     e)   In case of providing Network Services by using a frequency allocated
          according to Article 11 or Article 12 of the Radio Wave Law, support
          or subsidization for all or part of the acquisition cost of a terminal
          equipment required for provision of the Network Service on the
          condition that a service agreement is executed. However, the foregoing
          provision shall not apply to cases where such support or subsidization
          is deemed necessary for the sound development of the
          telecommunications business and the promotion of public welfare, as
          determined by the Presidential Decree.

(2)  In case a person, who was contracted to represent a telecommunications
     service provider in executing an agreement with a user (including revisions
     to the contents of an existing agreement), commits an act falling under
     Paragraph (1), Item d) or Item e), such act shall be deemed to have been
     committed by the telecommunications service provider, and thereby the
     provisions of Article 37 and Article 37-2 shall apply. However, if the
     telecommunications service provider is deemed to have exercised due care in
     order to prevent such act, the foregoing provision shall not apply.

(3)  Matters concerning the type and standards of the prohibited acts set forth
     in Paragraph (1) shall be determined by the Presidential Decree.

Article 36-4. Investigation

(1)  If the Communications Commission recognizes that a prohibited act as set
     forth in Article 36-3 occurs on the basis of any report or recognition, it
     may cause its public official to make investigation necessary for
     confirming such prohibited act.

<PAGE>
(2)  If necessary for investigation as set forth in Paragraph (1) above, the
     Communications Commission may request the telecommunications service
     provider to submit all necessary materials or goods. In addition, it may
     cause its public official to gain access to the telecommunications service
     provider's office, place of business or the telecommunications service
     provider's consignee's place of business and to investigate all books,
     documents, other materials or goods, as prescribed by the Presidential
     Decree.

(3)  A person who gains access to the telecommunications service provider's
     office, place of business or the telecommunications service provider's
     consignee's place of business according to Paragraph (2) above shall
     present a voucher indicating its authority to the relevant person.

Article 37. Measures against Prohibited Acts

(1)  If the Communications Commission recognizes that a prohibited act as set
     forth in Article 36-3 occurs, it may request the telecommunications service
     provider to take the following measures:

     a)   Separation of organization providing the telecommunications service;

     b)   Change of the internal accounting regulations with respect to the
          telecommunications service;

     c)   Disclosure of information on the telecommunications service;

     d)   Execution and fulfillment of, or change in the contents of, any
          agreement between the telecommunications service providers;

     e)   Change of the standard contract and articles of incorporation of the
          telecommunications service provider;

     f)   Cessation of prohibited act;

     g)   Public announcement of the order for curing the prohibited act;

     h)   Measures necessary for restoring the violated matters from their
          current condition resulting from a prohibited act, into their original
          shape and condition, such as removal of telecommunications facilities
          that are the cause of the prohibited act; or

     i)   Other matters as determined by the Presidential Decree.

(2)  The telecommunications service provider shall fulfill the order of the
     Communications Commission as set forth in Paragraph (1) above within the
     period as determined by the

<PAGE>
     Presidential Decree. However, if the Communications Commission recognizes
     that the telecommunications service provider is unable to fulfill the order
     within such period due to Acts of God or other unavoidable cause, it may
     extend such period only one (1) time.

(3)  The Communications Commission shall notify the relevant party of the
     contents of the measure as set forth in Paragraph (1) above and give an
     opportunity to speak his opinion within the fixed period before ordering to
     take such measure. If deemed necessary, the Communications Commission may
     hear any interested person's opinion, except when the relevant party fails
     to conform thereto without any justifiable cause.

Article 37-2. (Imposition of Surcharge on Prohibited Acts)

(1)  The Communications Commission may impose a surcharge not exceeding the
     amount equivalent to 3/100 of the sales amount as determined by the
     Presidential Decree, when any telecommunications service provider commits
     any acts prescribed in the Article 36-3; provided, however, that the
     Communications Commission may impose a surcharge not exceeding 1 billion
     Won in case there is no sales amount or its calculation is difficult as
     determined by the Presidential Decree.

(2)  Types of violative activities on which a surcharge will be imposed pursuant
     to Paragraph (1), the appropriate amount of surcharges, and other necessary
     matters shall be set forth under the Presidential Decree.

(3)  In case the person who is subject to the surcharge pursuant to Paragraph
     (1) fails to pay thereof by the due date, the Communications Commission
     shall collect an additional charge calculated at the rate of 6/100 per
     annum of the above surcharge for the delayed period from the day after the
     due date thereof.

(4)  In the case where the person who is subject to the surcharge pursuant to
     Paragraph (1) above fails to pay thereof by the due date, the
     Communications Commission shall urge payment with a time limit. If he/she
     fails to pay the surcharge and the additional charge pursuant to Paragraph
     (3) within such period, the Communications Commission pursuant to the
     examples of the deposition of national taxes in arrears.

Article 37-3. Relationship with Other Laws

In case any corrective measure is taken pursuant to the provision of Article 37
or imposition of surcharge is made pursuant to the provision of Article 37-2
with respect to the acts of a telecommunications service provider falling under
each Item of Article 36-3, Paragraph (1), any corrective measure or surcharge
under the Monopoly Regulation and Fair Trade Law shall not be taken or imposed
on the same acts of that telecommunications service provider for the same
reason.

<PAGE>
Article 38.   Compensation

When the measures as set forth in Article 37, Paragraph (1) are to be taken, a
person who has suffered damage due to the prohibited act may claim a
compensation for damage against the telecommunications service provider who has
engaged in the prohibited act. The telecommunications service provider may not
be indemnified unless he/she proves that he/she did not commit prohibited act by
willful conduct or by negligence.

Article 38-2. Improvement of Quality of Telecommunications Service

(1)  The telecommunications service provider shall make efforts to improve the
     quality of service provided thereby.

(2)  The Minister of Information and Communication shall take measures,
     including the evaluation of the quality of telecommunications service, to
     improve the quality of telecommunications service and to increase the
     convenience for the users thereof.

(3)  The Minister of Information and Communication may order the
     telecommunications service provider to submit data necessary for the
     evaluation of the quality of service provided thereby under Paragraph (2).

Article 38-3. Pre-selection Policy

(1)  The Minister of Information and Communication shall enforce the policy
     under which a user selects in advance his/her desired telecommunications
     service provider for telecommunications services (hereinafter referred to
     as "Pre-selection Policy"). In this case, the telecommunications businesses
     shall mean those identified by the Decree of Ministry of Information and
     Communication from among the telecommunications businesses being provided
     by multiple telecommunications service providers.

(2)  No telecommunications service providers shall force a user to make a
     pre-selection of a certain telecommunications service provider, or solicit
     or lead the user to do such in an unfair manner.

(3)  The Minister of Information and Communication may designate an expert
     institution to conduct the business of registration or change of the
     pre-selection (hereinafter referred to as "Pre-selection Registration
     Center") for efficient and impartial enforcement of the Pre-selection
     Policy.

(4)  Any matters regarding the enforcement of the Pre-selection Policy and any
     matters

<PAGE>
     necessary for designating the Pre-selection Registration Center and its
     business handling methods, etc. shall be established and notified by the
     Minister of Information and Communication following the deliberation
     thereof by the Telecommunication Commission.

Article 38-4. Number Portability

(1)  The Minister of Information and Communication may establish and enforce the
     plan for telecommunications number portability (hereinafter referred to as
     "Number Portability Plan") enabling users to maintain their
     telecommunications numbers regardless of change of the telecommunications
     service providers.

(2)  The Number Portability Plan shall include each of the followings:

     a)   Type of service subject to telecommunications number portability;

     b)   Timing of the application of the number portability by each service
          subject to telecommunications number portability; and

     c)   Matters regarding sharing of expenses for the enforcement of
          telecommunications number portability among telecommunications service
          providers.

(3)  The Minister of Information and Communication may order the relevant
     telecommunications service providers to take such measures as are necessary
     for enforcement of the Number Portability Plan.

(4)  The establishment or change by the Minister of Information and
     Communication of the Number Portability Plan shall be subject to the
     deliberation of the Communications Commission.

(5)  In order to implement telecommunications number portability in an efficient
     and neutral manner, the Minister of Information and Communication may
     designate an expert institution to handle operations relating to the
     registration and change of the telecommunications number portability
     (hereinafter referred to as "Number Portability Management Institution").

(6)  Matters relating to implementation of telecommunications number
     portability, the designation of the Number Portability Management
     Institution, and its operations shall be publicly notified by the Minister
     of Information and Communication through consultation with the
     Communications Commission.

    CHAPTER 5. INSTALLATION AND MAINTENANCE OF TELECOMMUNICATIONS FACILITIES

<PAGE>
Article 39. Use of Land

(1)  A Network Service Provider may use other people's land or
     building/structures on such land and water surface/under water (hereinafter
     called the "lands") when such are necessary to install lines and air-laid
     cables and their parts (hereinafter called the "lines") which are provided
     for telecommunications services. In such case, a Network Service Provider
     shall agree with the owner or the occupants of the land in advance.

(2)  In case an agreement cannot be reached or the parties are unable to agree
     based on the provisions of Paragraph (1), a Network Service Provider may
     use the land of other people as determined by the Law on Acquisition of and
     Compensation for Land for Public Utility.

(3)  (Deleted)

Article 40. Temporary Use of the Land

(1)  A Network Service Provider may temporarily use private or national/public
     telecommunications facilities and/or land to the extent not seriously
     obstructing the current use when it is necessary to use such places for
     measures such as laying new lines and installing or maintaining/repairing
     telecommunications facilities.

(2)  A Network Services Provider shall notify to occupants of private or
     national/public property in advance of the purpose and duration of the use
     when he/she wishes to temporarily use such properties based on the
     provisions of Paragraph (1). However, when it is not possible to notify in
     advance, a Network Service Provider shall notify the occupants when using
     or after using without delay. In case addresses and locations of the
     occupants are not available, a Network Service Provider shall give a public
     notice.

(3)  The duration of temporary use of the land based on the provisions of
     Paragraph (1) shall not exceed six (6) months.

(4)  A person who temporarily uses private or national/public telecommunications
     facilities or land based on the provisions of Paragraph (1) shall carry a
     certificate which specifies the right of such use and shall show this to
     the relevant person.

Article 41. Exit/Entry on the Land

(1)  A Network Service Provider may exit/enter other people's land when it is
     necessary for measuring and surveying for the purpose of installation and
     maintenance of telecommunications facilities. However, when a Network
     Service Provider has to exit/enter a private residence, he/she shall obtain
     a consent of a resident.

<PAGE>
(2)  The provisions of Paragraphs (2) and (4) of Article 40 shall apply mutatis
     mutandis to cases when the surveying/measuring personnel have to exit/enter
     private or national/public land based on the provisions of Paragraph (1).

Article 42. Request for Elimination of Obstacles

(1)  A Network Service Provider can request removal, modification, repair and
     other necessary measures to owners or occupants of obstacles such as gas
     pipes, water pipes, sewers, electric light circuits, electric power cables
     or self-telecommunications facilities (hereinafter called "obstacles")
     which could damage the telecommunications facilities or installation of
     lines.

(2)  A Network Service Provider can request the owners and occupants to remove
     any fixtures which might damage the installation and maintenance of lines
     or telecommunications.

(3)  In case the owner or occupant of the fixture does not comply with a request
     based on the provisions of Paragraph (2) or there is any unavoidable reason
     for not removing the fixture, a Network Service Provider may remove or
     transplant such fixtures after obtaining permission of the Minister of
     Information and Communication. In such case, a Network Service Provider
     shall notify the owner or occupants of the fixtures of such action without
     delay.

(4)  The owner or occupant of the obstacles which could harm or have a
     possibility of causing harm to the telecommunications facilities of a
     Network Service Provider shall confer in advance with a Network Service
     Provider when it is necessary to construct, expand, repair, demolish or
     modify such obstacles.

Article 43. Use of Transportation

(1)  A Network Service Provider may use private or national/public ships,
     airplanes or other transportation means or may use such means for special
     provision needed to open a radio communication station which would provide
     telecommunications services or may use such means after consulting with the
     owners or occupants regarding the supply of facilities in advance.

(2)  The provisions of Paragraph (2) of Article 40 and Article 44 shall apply
     mutatis mutandis to the case of the provision of Paragraph (1).

Article 44. Obligation of Restoring to Original Condition

<PAGE>
When a Network Service Provider finishes using the land based on the provisions
of Article 39 and 40 or such land is no longer needed to provide for
telecommunications services, he/she shall restore such land to its original
condition. When the land cannot be restored to its original condition, a Network
Service Provider shall compensate appropriately the losses of the owner or
occupant.

Article 45. Compensation for Losses

A Network Service Provider shall pay an appropriate compensation to the injured
party when he causes loss to other people, in accordance with Article 40,
Paragraph (1); Article 41, Paragraph (1); or Article 42.

Article 46. Compensation for Out-of-Pocket Expenses

(1)  A Network Service Provider shall compensate for the out-of-pocket expenses
     incurred when he was specially supplied with materials needed to open a
     radio communication station which would provide telecommunications services
     from an owner or occupant of a ship, airplane, or other means of
     transportation based on the provision of Article 43, Paragraph (1).

(2)  Procedures for compensation for damage and/or application for the ruling
     set forth in Article 33-3 shall apply mutatis mutandis to those for
     compensation for out-of-pocket expenses under Paragraph (1) above.

Article 47. Procedure of Compensation for Land Losses

(1)  A Network Service Provider shall consult with the injured parties when
     compensating for any losses based on the provisions of Articles 44 and 45
     when the injured is unable to recover fully the losses from the use of
     land, exit/entry on land, or removal of obstacles based on Article 40,
     Paragraph (1), Article 41, Paragraph (1), Article 42, and Article 44.

(2)  When an agreement based on the provision of Paragraph (1) has not been
     reached or it is not possible to consult concerned parties, an application
     for a ruling shall be submitted to the local land confiscation commission
     based on the Law on Acquisition of and Compensation for Land for the
     Purpose of Public Utility.

(3)  Except for matters specifically mentioned in this Law, the relevant
     provisions of the Law on Acquisition of and Compensation for Land for the
     Purpose of Public Utility shall apply mutatis mutandis with respect to the
     standards, methods, and procedures of compensation for the land pursuant to
     Paragraph (1) and application for ruling pursuant to Paragraph (2).

<PAGE>
Article 48. (Deleted)

Article 49. (Deleted)

Article 50. Protection of Telecommunications Facilities

(1)  No one shall destroy telecommunications facilities; furthermore, no one
     shall hinder the flow of telecommunications by interrupting the functions
     of telecommunications facilities, such as through attachment of other
     materials to such equipment.

(2)  No one shall damage telecommunications facilities' measuring marks or
     telecommunications facilities by throwing things at such facilities or by
     attaching rafts, ships, or other moving objects.

Article 51. Movement of Facilities

(1)  When purpose or methods of use of the land where a Network Service
     Provider's telecommunications facilities are installed or the nearby land
     have changed and such facilities have come to hinder the use of such land,
     the owner or occupant of such land may request a Network Service Provider
     to move telecommunications facilities or take necessary measures to remove
     such obstacles.

(2)  When a Network Service Provider has been requested, based on the provision
     of Paragraph (1), he/she shall arrange necessary measure except for case
     when it is not possible to do so due to administrative or technological
     reasons.

(3)  The costs needed for the measures based on Paragraph (2) shall be borne by
     the party who requested such action. However, such costs can be reduced or
     waived as determined by Presidential Decree.

Article 52. Cooperation of Other Organizations

Cooperation of related public organizations may be requested when transportation
of automobiles, ships, airplanes, and other transportation means are needed for
the installation and maintenance of telecommunications facilities of a Network
Service Provider. In this case, the public organization which received such
request shall accept it unless there is just cause.

                       CHAPTER 6. SUPPLEMENTARY PROVISIONS

<PAGE>
Article 53. Prohibition of Subversive Communication

(1)  Those who use telecommunications shall not engage in any act falling under
     the following Items:

     a)   Telecommunications which contain contents that distribute, sell, rent
          or openly display obscene signs, literature, sounds, pictures or
          images;

     b)   Telecommunications which contain contents that defame another person
          by disclosing any facts or false facts for the purpose of slandering
          the person;

     c)   Telecommunications which contain contents that repeatedly send to a
          person signs, literature, sounds, pictures or images that arouse fear
          or a feeling of uneasiness;

     d)   Telecommunications which contain contents that damage, destruct,
          alter, forge or hinder the operation of information and communication
          systems, data or programs without any justifiable reasons;

     e)   Telecommunications which contain contents that offer media materials
          that are harmful to juveniles, as set forth in the Juvenile Protection
          Law, for the purpose of making profits, without performing the legal
          obligations, such as confirming the age of users and obligation of
          indication;

     f)   Telecommunications which contain contents that fall under the category
          of speculative acts that are legally prohibited;

     g)   Telecommunications which contain contents that disclose state secrets,
          such as classified information categorized as such by the laws and
          regulations;

     h)   Telecommunications which contain contents relating to the performance
          of acts prohibited by the National Security Law; and

     i)   Telecommunications which contain contents that are produced with
          criminal intent, or instigate or abet crime.

(2)  With respect to telecommunications described in Paragraph (1), the Minister
     of Information and Communication may order the telecommunications service
     provider to refuse, suspend or restrict such telecommunications through
     consultation with the Information and Communication Ethics Committee under
     Article 53-2. However, in the case of telecommunications set forth in
     Paragraph (1), Items b) and c), the Minister of Information and
     Communication shall not issue such an order against the relevant injured
     party's intention; in the case of Paragraph (1), Items g) through i), the
     Minister of Information and Communication may issue such an order only upon
     the request from the head of the

<PAGE>
     relevant central administrative agency.

(3)  The Minister of Information and Communication shall first give the
     telecommunications service provider and the relevant users subject to the
     order set forth in Paragraph (2) an opportunity to voice their opinion.
     However, in each of the following Items, the foregoing provision shall not
     apply:

     a)   When such a measure should be taken urgently for the safety or welfare
          of the public;

     b)   When it is considerably difficult or obviously unnecessary to listen
          to an opinion, as determined by the Presidential Decree; or

     c)   When the relevant person clearly indicates his/her intention to waive
          the opportunity to submit his/her opinion.

Article 53-2. Information and Communication Ethics Committee

(1)  The information and communication ethics committee (hereinafter
     "Committee") shall be established in order to develope the sound
     communications culture and create an upright using environment of
     telecommunications.

(2)  The Committee shall have between eleven (11) and fifteen (15) members
     including one (1) chairman.

(3)  The Minister of Information and Communication shall appoint members of the
     Committee from the academic circle, legal circle, users groups and the
     telecommunications industry. In this case, the Minister of Information and
     Communication shall appoint more than one-fifth(1/5) of the members of the
     Committee from the legal sector and those affiliated to users groups,
     respectively.

(4)  The Committee shall perform each of the following activities:

     a)   The Committee shall present basic principles concerning information
          and communication ethics;

     b)   The Committee shall review information, as provided in this Law and
          the Presidential Decree, which is disclosed and circulated to the
          public through telecommunications line and shall demand the correction
          of any matters according to the review;

     c)   The Committee shall make a recommendation in order to establish
          measures for circulating sound information through the
          telecommunications lines;

<PAGE>
     d)   The Committee shall operate an agency for receiving reports regarding
          circulation of information that is illegitimate or harmful to
          juveniles;

     e)   The Committee shall engage in activities for the promotion of a sound
          culture of information; and

     f)   The Committee shall carry out any other matters delegated by the
          Minister of Information and Communication concerning the promotion of
          circulation of sound information.

(5)  Matters necessary for organization and operation of the Committee shall be
     determined by the Presidential Decree.

(6)  The government may subsidize any expenses necessary for operation of the
     Committee within the scope of budget.

Article 54. Protection of Confidentiality of Communications

(1)  No one shall intrude on or disclose any confidential information while
     providing telecommunications services.

(2)  Those who work or worked in telecommunications services shall not disclose
     any confidential information of other people that he/she might have known
     during his employment.

(3)  Telecommunications service providers may cooperate with the court,
     prosecutor or the head of investigation agency (including military
     investigation agency, hereinafter the same shall apply) and the head of
     intelligence investigation agency when requested to disclose or submit the
     following documents or data for the purpose of trial, investigation,
     execution of sentence or collection of information to prevent any danger to
     the national security ("provision of communication data"):

     a)   User's name;

     b)   User's resident registration number;

     c)   User's address;

     d)   User's telephone number;

     e)   User's ID (this refers to a user identification code used to identify
          authorized users of a computer system or communication network); and

<PAGE>
     f)   Date of subscription and/or termination of user.

(4)  The request for the provision of communication data pursuant to Paragraph
     (3) shall be made in written form which sets forth the reason for request,
     relevancy of the user in question and scope of necessary data ("written
     request for provision of data"); provided, however, in the case of urgent
     circumstances for which there is no time to make a request in writing, such
     request may be made without a written form and when such circumstances are
     resolved, a written request for provision of data shall be submitted to the
     telecommunications service providers without delay.

(5)  When the telecommunications service provider provides communication data in
     accordance with the procedures mentioned in Paragraphs (3) and (4), such
     telecommunications service provider shall keep the relevant data, such as
     the written request for provision of data and the ledger set forth in the
     Ministerial Decree of Ministry of Information and Communication, containing
     the necessary matters including the provision of data.

(6)  The telecommunications service provider shall report to the Minister of
     Information and Communication twice a year, the status regarding the
     provision of communication data in accordance with the Presidential Decree,
     and the Minister of Information and Communication may inspect the report
     made by the telecommunications service provider and the management of the
     relevant data provided in Paragraph (5).

(7)  The telecommunications service provider shall notify in accordance with the
     Ministerial Decree of the Ministry of Information and Communication the
     contents described in the ledger provided in Paragraph (5), to the head of
     the central administrative agency for which the person who requested the
     communication data pursuant to the provision in Paragraph (3), is working.
     However, in case the provision of communication data is requested by the
     court, such contents shall be reported to the Minister of Court
     Administration.

(8)  The telecommunications service provider shall establish and operate a
     special organization which is in charge of the communication secrets of the
     users, and any matters regarding the function and formation of the special
     organization shall be determined by the Ministerial Decree of the Ministry
     of Information and Communication.

(9)  Any necessary matters regarding the scope of the persons authorized to seal
     the documents submitted to the telecommunications service provider in
     accordance with the provision of Paragraph (4), shall be determined by the
     Ministerial Decree of the Ministry of Information and Communication.

Article 54-2. Notification of Caller's Telephone Number

(1)  Upon the request of a call recipient, telecommunications service providers
     may inform the

<PAGE>
     recipient of the telephone number of the caller, in accordance with those
     terms set forth in the Decree of the Ministry of Information and
     Communication. However, the foregoing shall not apply in the event that the
     caller expresses his/her intention to refuse such disclose of his/her
     telephone number.

(2)  Notwithstanding the proviso of the last sentence of Paragraph (1) above,
     the telecommunications service providers may inform the recipient of the
     caller's telephone number, (i) if the call recipient so requests in
     accordance with those terms set forth in the Decree of the Ministry of
     Information and Communication in order to protect a call recipient from any
     verbal violence, threat, harassment, etc. through telecommunications; or
     (ii) if the relevant telecommunications service is the special number
     telephone service set forth in the Decree of the Ministry of Information
     and Communication.

Article 55. Restrictions and Suspension of Business

In case of national crisis, such as war, civil conflict, Acts of God or when
there is a possibility of such crises, or when there are inevitable causes, the
Minister of Information and Communication can order telecommunications services
providers to restrict or suspend the entire or part of telecommunications
services in order to secure primary communications means, based on the
determinations of the Presidential Decree.

Article 56. (Deleted)

Article 57. (Deleted)

Article 58. (Deleted)

Article 59. Approval for International Telecommunications Business

(1)  When there exist provisions related to international telecommunications
     services in treaties or agreements that the government joined, those
     provisions are to be applied.

(2)  In case where a telecommunications service provider wants to conclude an
     agreement or a contract with regards to the settlement of charges for
     international telecommunications service with a foreign government or a
     foreigner (excluding Value Added Service Providers) and other international
     telecommunications service set forth under the Presidential Decree, he/she
     shall obtain an approval from the Minister of Information and Communication
     as provided in the Presidential Decree. The same is true when he/she wants
     to alter or nullify such agreement or contract.

<PAGE>
(3)  The standards for the approval on the agreement or contract regarding the
     settlement of charges for international telecommunications service provided
     in Paragraph (2) shall be determined and publicly notified by the Minister
     of Information and Communication.

Article 59-2. Cross-Boarder Supply of Network Services

(1)  Those who wish to provide Network Service from abroad into Korea
     (hereinafter referred to as "Cross-Boarder Supply of Network Services)
     without having any business place in Korea shall execute an agreement
     regarding the Cross-Boarder Supply of Network Services with domestic
     Network Service Provider or Specific Service Provider providing the same
     Network Services.

(2)  The provisions of Article 29, Article 30, Article 33 through 33-3, Article
     36-3 through Article 37, Article 38, Article 53 through 55, Article 62 and
     Article 65 shall apply mutatis mutandis to the provision of services
     determined by an agreement of Network Service Provider or Specific Service
     Provider pursuant to Paragraph (1).

(3)  The Minister of Information and Communication may cancel the approval under
     Article 59, Paragraph (2) or order a part or whole suspension of a
     Cross-Boarder Supply of Network Services as set forth in the relevant
     agreement for a period less than one (1) year when those who wish to
     provide Cross-Board Supply of Network Services under Paragraph (1), or a
     Network Service Provider or Specific Service Provider who executed an
     agreement with those has violated the relevant provisions applied by
     Paragraph (2).

(4)  Criteria and procedures for such measures under Paragraph (3) and other
     necessary matters are to be determined by the Decree of the Ministry of
     Information and Communication.

Article 60.   (Deleted)

Article 61.   (Deleted)

Article 62.   Reporting Statistics

(1)  Telecommunications service providers shall report statistics related to
     provision of telecommunications business to the Minister of Information and
     Communication as set forth under the decree of the Minister of Information
     and Communication, such as current status of facilities and results of use
     by each telecommunications business, current status of users and call
     traffic related documents necessary for imposition and collection of
     charges, and shall keep and maintain all related documents.

<PAGE>
(2)  When requested by the Minister of Information and Communication, Network
     Service Providers and their shareholders, Specific Service Providers and
     their shareholders shall submit relevant materials needed for verification
     of matters prescribed in Article 6 as set forth under the decree of the
     Ministry of Information and Communication.

(3)  The Minister of Information and Communication can request administrative
     branches or other relevant branches to review submitted materials or to
     submit relevant materials in order to make a verification under Paragraph
     (2) or to check the authenticity of submitted materials. In this case, the
     requested branches shall comply unless there is just cause.

Article 63. Hearing

In cases where the Minister of Information and Communication wants to make any
of the following measures, the Minister shall hold a hearing.

(1)  Cancellation of approval for Network Service Providers pursuant Article 15,
     Paragraph (1);

(2)  Cancellation of registration for Specific Service business or cessation for
     Value Added Service business pursuant Article 28, Paragraph (1) and (2); or

(3)  Cancellation of an approval pursuant Article 59-2, Paragraph (3).

Article 64. Imposition of Surcharge

(1)  In case the Minister of Information and Communication shall order a
     suspension of business when any one of the Items of Article 15, Paragraph
     (1), or Items of Article 28, Paragraphs (1) and (2) applies to
     telecommunications service providers and such suspension may create
     inconvenience to users of those services or damage public interests, the
     Minister can substitute the imposition of a surcharge up to
     three-hundredths (3/100) of the sales calculated according to the
     Presidential Decree. However, in case the telecommunications service
     provider records no sales or it is difficult to calculate the sales, the
     Minister of Information and Communication may impose a surcharge up to 1
     billion Won as set forth in the Presidential Decree.

(2)  Types of violative activities on which a surcharge will be imposed pursuant
     to Paragraph (1), the appropriate amount of surcharges, and other necessary
     matters shall be set forth under Presidential Decree.

(3)  the provision of Article 37-2, Paragraph (3) and Paragraph (4) shall apply
     mutatis mutandis, to the collection of surcharge under Paragraph (1).

<PAGE>
(4)  (Deleted)

Article 64-2. Extension of Due Date for Surcharge and Payment of Surcharge on
              Installment Basis

(1)  In case the surcharge which the telecommunications service provider is
     subject to pay pursuant to the provisions of Article 37-2 and Article 64
     exceeds the amount as determined by the Presidential Decree and it is
     difficult for the relevant telecommunications service provider to make the
     full payment of the surcharge in lump sum basis due to each of the
     following reasons, the Minister of Information and Communication may extend
     the due date or allow the payment on installment basis. In this case, when
     deemed necessary, the relevant telecommunications service provider is
     required to provide collateral.

     a)   When a significant loss is inflicted on its property due to natural
          disaster or fire;

     b)   When its business reaches substantial crisis due to the difficult
          business circumstances; or

     c)   When considerable difficulties of the finance are anticipated with the
          payment of surcharge in lump sum basis.

(2)  Any matter necessary for extension of the due date for surcharge, payment
     of surcharge on installment basis and provision of collateral shall be
     determined by the Presidential Decree.

Article 65.   Corrective Orders

(1)  The Minister of Information and Communication shall order a correction when
     any one of following Items applies to telecommunications service providers:

     a)   In case of violation of this Law, the Telecommunications Basic Law,
          the Radio Waves Law, the Laws on Promotion of Information and
          Communication Network Utilization and Information Protection, the
          Basic Informationization Promotion Law and the orders pursuant to
          these laws;

     b)   When service operation procedures of telecommunications service
          providers are deemed to have caused significant damage to user
          benefits; or

     c)   When necessary measures, such as repair, are not taken immediately to
          remove obstacles in case of occurrence of obstacles to the provision
          of telecommunications services due to accidents, etc.

(2)  The Minister of Information and Communication can order the following Items
     regarding

<PAGE>
     telecommunications service providers when it is necessary for the
     advancement of telecommunications:

     a)   Integrated operation/management of telecommunications facilities;

     b)   Expansion of telecommunications facilities for promoting society's
          welfare;

     c)   Establishment and management of communications networks for primary
          communications in order to efficiently run national administration; or

     d)   Other items determined by Presidential Decree.

(3)  The Minister of Information and Communication may order any person who
     falls under any of the following Items to suspend his/her the provision of
     telecommunications business, or to remove his/her telecommunications
     facilities:

     a)   One who operated a network service providing business without a permit
          under Article 5, Paragraph (1);

     b)   One who operated a specific service providing business without
          registration under Article 19, Paragraph (1); or

     c)   One who operated a value added service providing business without a
          report under Article 21, Paragraph (1).

Article 66 and Article 67. (Deleted)

Article 68. Commission and Delegation of Authority

(1)  Part of the authority of the Minister of Information and Communication
     based on this Law can be delegated to the Governor of Communications as set
     forth under Presidential Decree.

(2)  The Minister of Information and Communication may delegate a part of his
     duties regarding report based on the provision of Article 21, Paragraph (1)
     as set forth under the Presidential Decree to a telecommunications service
     provider or the Association of the Data Communications Promotion based on
     the Laws on Promotion of Information and Communication Network Utilization
     and Information Protection.

                          CHAPTER 7. PENAL REGULATIONS

<PAGE>
Article 69. Penal Regulations

One to whom any of the following Items applies shall be sentenced with
imprisonment of up to five (5) years or a fine of up to 200 million Won:

     a)   One who operated Network Service business without a permit pursuant to
          Article 5, Paragraph (1);

     b)   One who damaged telecommunications facilities in violation of Article
          50, Paragraph (1) or one who obstructed telecommunications services
          through attachment of material to telecommunications facilities, etc.;

     c)   One who disclosed other's confidential information that he/she
          acquired during his/her term of office, violating the provision of
          Article 54, Paragraph (2); or

     d)   One who provided communication data or received such data in violation
          of Article 54, Paragraph (3).

Article 70. Penal Regulations

One to whom any of the following items applies shall be sentenced with
imprisonment of up to three (3) years or a fine of up to 150 million Won:

     a)   One who refuses to provide telecommunications services without just
          cause, violating the provision of Article 3, Paragraph (1);

     b)   One who is in violation of the measure of business suspension pursuant
          to the provision of Article 15, Paragraph (1);

     c)   One who has operated Specific Service business without registration
          pursuant to Article 19, Paragraph (1);

     d)   One who conducts the prohibited acts as set forth in Article 36-3,
          Paragraph (1), Items a) through d);

     e)   One who has not observed an order pursuant to Article 37, Paragraph
          (2);

     f)   One who obstructed activities of line survey or preservation and
          installation of telecommunications facilities pursuant to Article 40,
          Paragraph (1); or

     g)   One who infringes on or discloses confidential information about
          communications served by telecommunications service providers,
          violating the provision of Article 54, Paragraph (1).

<PAGE>
Article 71. Penal Regulations

One to whom any of the following Items applies will be sentenced with
imprisonment of up to two (2) years or a fine of up to 100 million Won:

     a)   One who has not acquired a permit of alternation or has not made a
          report under Article 10;

     b)   One who has not acquired an approval under Article 11, Paragraph (1)
          and Article 34-4, Paragraph (4);

     c)   One who has not acquired an approval under Article 13, Paragraph (1)
          or Paragraph (2) or Article 14, Paragraph (1);

     d)   One who has operated Value Added Service Business without reporting
          pursuant to Article 21;

     e)   One who is in violation of the measure of business suspension pursuant
          to the provision of Article 28, Paragraph (1);

     f)   One who is in violation of the order of business cessation pursuant to
          the provision of Article 28, Paragraph (2);

     g)   One who has disclosed, used or provided any information in violation
          of the main text of Article 34-5, Paragraph (1) or Article 34-5,
          Paragraph (2);

     h)   One who has not observed an order pursuant to Article 53, Paragraph
          (2) or Article 55; or

     i)   One who has not acquired an approval, approval on alteration or
          cancellation under Article 59, Paragraph (2).

Article 72. Penal Regulations

One to whom any of the following Items applies will be sentenced with
imprisonment of up to one (1) year or a fine of up to 50 million Won.

     a)   One who has violated a corrective order under Article 7, Paragraph (2)
          (cases applied mutatis mutandis by Article 4, Paragraph (4) of Addenda
          to the Amended Telecommunications Business Law (No. 5385) are also
          included);

<PAGE>
     b)   (Deleted);

     c)   One who has not registered or reported an alteration pursuant to
          Article 22;

     d)   One who has not made a report pursuant to Article 25;

     e)   One who is in violation of the measure of business suspension pursuant
          to the provision of Article 28, Paragraph (2);

     f)   One who has provided a telecommunications service without making
          report or obtaining the necessary approval under Article 29, Paragraph
          (1); or

     g)   One who served as an intermediary for communications of others using
          the telecommunications service provided by the telecommunications
          service provider, or provided the aforesaid telecommunications service
          to others for their communications in violation of the main text of
          Article 32-2.

Article 73. Penal Regulations

One to whom any of the following Items applies will be sentenced with a fine of
50 million Won or less.

     a)   One who commits any prohibited acts set forth in Article 36-3,
          Paragraph (1), Item e);

     b)   One who denies or obstructs a temporary use of private
          telecommunications facilities or land pursuant to Article 40,
          Paragraph (1) without just cause;

     c)   One who denies or obstructs entry/exit to land pursuant to Article 41,
          Paragraph (1) without just cause;

     d)   One who denies an order for moving, alteration, or repair of an
          obstruction or other measures pursuant to Article 42, Paragraph (1),
          or one who denies a request for removal of a plant pursuant to
          Paragraph (2) under the same Article without just cause;

     e)   One who denies a request for provision of facilities or use of
          transportation pursuant to Article 43, Paragraph (1) without just
          cause;

     f)   (Deleted); or

     g)   (Deleted).

<PAGE>
Article 74. (Deleted)

Article 75. Penal Regulations

One who damages the telecommunications facilities or injures measuring card of
the telecommunications facilities in violation of Article 50, Paragraph (2)
shall be sentenced with a fine of 1 million Won or less or with a police fine.

Article 76. Attempts

One who attempts to violate Article 69, Items b) and c) or Article 70, Item g),
shall be punished.

Article 77. Double Penalty Provision

When a representative of a corporation, a proxy for a corporation/individual, an
employee or a worker for a corporation/individual commits a violation of
Articles 69 through 73 regarding services provided by that
corporation/individual, not only the person who committed that violation will be
punished, but also that corporation or individual will be sentenced with a fine
pursuant to each pertinent Article.

Article 78. Penalties

(1)  One to whom any of the following Items applies will be sentenced with a
     penalty of 10 million Won or less.

     a)   One who has not reported in accordance with Article 27;

     b)   One who has not observed an order to alter standard contracts in
          accordance with Article 30;

     c)   (Deleted);

     d)   One who violates responsibilities concerning user protection under
          Article 33, Paragraph (2);

     e)   One who fails to notify technical standards, standards for use and
          supply or any other standards for establishment of fair competition
          environment in violation of Article 34-4, Paragraph (4);

<PAGE>
     f)   One who has not observed notified matters in violation of the
          provision of Article 36, Paragraph (3);

     g)   One who does not file accounting records or submit business reports,
          or one who does not keep his books or any evidencing documents in
          violation of Article 36-2, Paragraph (1);

     h)   One who has not observed an order for submission of any related
          documents under Article 36-2, Paragraph (4);

     i)   One who refuses or avoids an order for submission of any materials or
          goods or an inspection under Article 36-4, Paragraph (2) or conducts
          any activities causing trouble in such order or inspection;

     j)   One who fails to comply with the order to submit the relevant data
          under Article 38-2, Paragraph (3);

     k)   One who fails to keep the relevant data or keeps falsified data in
          violation of Article 54, Paragraph (5);

     l)   One who fails to notify the head of central administrative agency in
          violation of Article 54, Paragraph (7);

     m)   (Deleted);

     n)   One who does not report or submit materials under Article 62 or one
          who reports or submits them falsely; or

     o)   One who does not observe a corrective order pursuant to Article 65.

(2)  A penalty pursuant to Paragraph (1) is to be levied and collected by the
     Minister of Information and Communication as set forth under Presidential
     Decree.

(3)  One who has a complaint with a disposition for a penalty pursuant to
     Paragraph (2) can pose an objection to the Minister of Information and
     Communication within thirty (30) days from the date of notification.

(4)  When a person who is disposed for a penalty pursuant to Paragraph (2) poses
     an objection pursuant to Paragraph (3), the Minister of Information and
     Communication shall notify a competent court immediately, and the notified
     competent court shall decide on a penalty in accordance with the
     Non-Litigation Procedure Law.

(5)  When a person neither poses an objection under Paragraph (3) nor pays a
     penalty, the penalty will be collected as in the case of a coercive
     collection of a national tax.

<PAGE>
                                     ADDENDA
                     [as of December 26, 2002, Law No. 6822]

Article 1. Date of Enforcement

This Law shall come into effect as of the date on which three (3) months have
elapsed from the date of promulgation. However, the amendments to Article 53,
Article 53-2, Paragraph (1), the latter part of Paragraph (3), Paragraph (4),
Article 54, Paragraph (3) and the proviso of Paragraph (7), and Article 71, Item
h) shall come into effect as of the date of promulgation, and the amendment to
Article 36-3, Paragraph (3) shall come into effect on the date on which six (6)
months have elapsed from the date of promulgation.

Article 2. Term of Validity

The amendment to Article 36-3, Paragraph (1), Item e) shall be effective for a
period of three (3) years from the date of enforcement of this Law.

Article 3. Interim Measures for Disposition, etc.

Approval, acceptance of report, order of correction of prohibited acts,
imposition of surcharge which has been performed by the Minister of Information
and Communication pursuant to previous Article 34-6, Article 37 and Article 37-2
prior to the enforcement of this Law shall be deemed to have been performed by
the Communications Commission pursuant to the respective provisions.

Article 4. Interim Measures for Surcharges

Surcharges imposed with respect to acts committed prior to the enforcement of
this Law shall be subject to previous provisions, irrespective of the amendment
to Article 64, Paragraph (1).

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