Document:

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                                                                     Exhibit 4.1

English Translation

                                 LEASE AGREEMENT

                         Lessor: LG Insurance Co., Ltd.

                              Lessee: Gmarket Inc.

                                 LEASE AGREEMENT

This Lease Agreement (this "Agreement") is entered into on March 2007 by and
between LG Insurance Co., Ltd. (the "Lessor") and Gmarket Inc. (the "Lessee")
under the following terms and conditions:

Article 1 (Description of Leased Premises)

     (1)  The Lessor intends to lease to the Lessee, and the Lessee intends to
          lease from the Lessor, certain parts of the Building (the "Leased
          Premises") the details of which are described below:

                         Description of Leased Premises

          Location: LG Insurance Co., Ltd. Bldg., 649-11 Yoksam-dong,
          Kangnam-gu, Seoul, Korea

6th Floor   1,427.25 m(2)   431.74 pyung (including the common area)
7th Floor   1,427.25 m(2)   431.74 pyung (including the common area)
8th Floor   1,427.25 m(2)   431.74 pyung (including the common area)
   Total:   4,281.72 m(2)  (1,295.22 pyung)

                               (Attached Drawing)

<PAGE>

     (2)  The Lessee shall use and occupy the Leased Premises for the purpose of
          office space. The Lessee may not use the Premises for any other
          purposes.

Article 2 (Lease Term)

     (1)  The term of lease (the "Lease Term") shall be a period of twelve (12)
          months commencing on March 1, 2007 and ending on February 29, 2008,
          provided however, this Agreement shall be extended for a period of one
          (1) year unless either party in a written document notifies the other
          of the objection to the extension until one month before the
          termination of the Agreement.

     (2)  During the Lease Term, this Agreement may be terminated by giving a
          three months' prior written notice of termination to the other party
          and by mutual agreement between the parties. This Agreement shall be
          deemed as having terminated three (3) months after the date of such
          three months' prior written notice.

Article 3 (Security Deposit)

     (1)  The Lessee shall deposit to the Lessor the security deposit (the
          "Security Deposit") as follows, and no interest shall accrue on the
          Security Deposit:

<TABLE>
<CAPTION>
Classification     Amount         Percentage   Payment Due Date
--------------     ------         ----------   ----------------
<S>                <C>            <C>          <C>
Security Deposit   W811,944,000      100%      Replaced by existing Security Deposit
Total              W811,944,000      100%
</TABLE>

     (2)  If the Lessee delays the payment of the Security Deposit, the Lessor
          may immediately terminate this Agreement.

     (3)  The Lessee may not apply the Security Deposit to the payment of any
          monthly rent or maintenance fee, nor may the Lessee assign, pledge or

<PAGE>

          provide as security to a third party its claim for refund of the
          Security Deposit.

     (4)  If the Lessee fails to perform any of its payment obligations set
          forth in this Agreement within the prescribed time period, the Lessor
          may apply the Security Deposit toward the payment of such unpaid
          amount without any procedure to take in advance. In the event that the
          Lessor applies the Security Deposit toward the payment of an unpaid
          amount, the Lessor shall give the Lessee a written notice of such
          application within seven (7) days, and the Lessee shall, within seven
          (7) days from the receipt of such notice, make up the deduction from
          the Security Deposit.

     (5)  If this Agreement terminates upon expiry of the Lease Term or
          termination hereof or otherwise, the Lessor shall refund the Security
          Deposit to the Lessee immediately after the surrender of the Leased
          Premises by the Lessee to the Lessor. Provided, however, that the
          Lessor shall deduct any outstanding expenses or debts payable by the
          Lessee hereunder from the Security Deposit to be returned to the
          Lessee.

Article 4 (Monthly Rent)

     (1)  The Lessee shall pay to the Lessor the sum of W82,980,677 by the
          fifteenth day of each month (or the next following business day, if
          the last day falls on a statutory holiday).

     (2)  If the Lease Term begins during a calendar month, the monthly rent
          shall be prorated by days. The same applies if the Lease Term expires
          during a calendar month.

     (3)  Even if the Lessee fails to move in on the commencement date of the
          Lease Term, the rent shall be calculated from the commencement date of
          the Lease Term, provided however, if the Lessor fails to surrender the
          Leased Premises to Lessee on the commencement date of the Lease Term,
          the rent shall be calculated from the date of actual surrender of the
          Leased Premises by the Lessor.

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Article 5 (Maintenance Fee)

     (1)  The Lessee shall pay to the Lessor maintenance fee of W82,980,677,
          covering the electric charge, water supply and sewage charge,
          sanitation charge and any and all expenses for maintenance and
          management of the building on the fifteenth day of each month (or the
          next following business day, if the last day falls on a statutory
          holiday), and the maintenance fee shall be determined pursuant to the
          separate agreement prepared after the completion of the calculation
          for maintenance fee by the Lessor. Provided however, even during the
          Lease Term, the Lessor may adjust the maintenance fee (VAT exclusive)
          on first day of April of each year by giving one (1) month prior
          written notice.

     (2)  The Lessee shall separately pay charges for any special facilities
          additionally installed by Lessee for its private needs and any taxes
          and public imposts thereon to the building management company.

     (3)  If the Lease Term begins during a calendar month, the maintenance fee
          shall be prorated by days. The same applies if the Lease Term expires
          during a calendar month. Provided however, in the event an interior
          construction is conducted, the calculation for the maintenance fee
          shall be commenced from the date agreed by the parties.

Article 6 (Default Interests)

     (1)  If the Lessee fails to pay the monthly rent, maintenance fee hereunder
          and the taxes and public imposts set forth in Article 8 below, or to
          perform any of its payment obligations set forth in this Agreement
          within the prescribed time period, the Lessee shall pay to the Lessor
          default interests accrued thereon at the rate of 18% per year for the
          period of default until the date of actual payment. In the event that
          Lessor applies the Security Deposit toward the payment of an unpaid
          amount as set forth in Article 3(5) above, the payment shall be deemed
          to be made on the date on which the Lessee actually makes up the
          deducted portion from the Security Deposit.

<PAGE>

     (2)  The amount paid under the Lessee's payment obligation shall be applied
          in the following order: default interests, parking fee, maintenance
          fee, monthly rent and the Security Deposit.

     (3)  If the Lessor fails to refund the Security Deposit or to perform any
          of its payment obligations set forth herein within the prescribed time
          period, the Lessor shall pay to the Lessee default interests accrued
          thereon at the rate of 18% per year for the period of default until
          the date of actual payment or refund.

     (4)  The default interest set forth in this Agreement shall accrue on the
          Security Deposit, the monthly rent, the maintenance fee, parking fee,
          damages for delay in vacation of the leased premises, damages for
          early termination, or any other payment obligation, irrespective of
          whether this Agreement is terminated under Article 17 herein or
          expired, until such unpaid amount has been fully paid.

Article 7 (Adjustment of Security Deposit, Monthly Rent and Maintenance Fee)

During the Lease Term, if any of the following events occurs, the Lessor may
give one (1) month's written notice to the Lessee to adjust the amount of the
Security Deposit, the monthly rent and the maintenance fee:

     (1)  In case adjustment is needed to improve or maintain the conditions of
          the Leased Premises, or Changes in taxes or public charges on the
          Leased Premises.

     (2)  Changes in expenses required to maintain the Leased Premises in normal
          operation, including heating & cooling charges, and labor costs for
          cleaning and security services;

     (3)  Changes in cost of living or other economic conditions;

     (4)  The maintenance fee may be adjusted on the first day of April of each

<PAGE>

          year by giving one (1) month prior written notice as set forth in
          Article 5 (1).

Article 8 (Use of Special Facilities and Communications)

     (1)  The Lessee shall give a written notice to the Lessor of the cars owned
          by it and shall have free parking spaces for the number of cars
          designated by the Lessor according to the leased area.

     (2)  If the number of the Lessee's cars to be parked in the parking lot
          exceeds the number of cars designated by the Lessor, the Lessor may
          charge parking fees for such exceeding number of cars pursuant to
          separate provisions.

     (3)  The Lessee may install and operate communication facilities after
          obtaining the required approval from the relevant authority, and after
          the installation of the communication facilities, the Lessee shall
          give a notice of such installation to the Lessor. The Lessee shall
          bear all costs of the operation and repair of the communication
          facilities.

Article 9 (Prohibition of Assignment of Rights or Sublease, etc.)

In any event, the Lessee may not transfer, or provide as collateral, its rights
and obligations hereunder to a third party or sublease or use all or any part of
the Leased Premises for purposes other than as set out herein without express
consent of the Lessor.

Article 10 (Use of the Leased Premises)

     (1)  The Lessee shall not establish residence within the Leased Premises or
          use the Leased Premises for any purposes other than the ones set forth
          in Paragraph (2) of Article 1. However, the Lessee may have a night
          watchman with the written consent of the Lessor.

     (2)  In the event that the Lessee desires to use some facilities within the

<PAGE>

          Leased Premises, the Lessee shall give the Lessor prior written notice
          thereof and pay all expenses therefor as the Lessor requests.

Article 11 (Safe Management of Properties and Insurance)

     (1)  The Lessee shall be solely responsible for the safe management of its
          private properties within the Leased Premises. The Lessor shall not be
          liable for any loss or damages sustained by the Lessee due to fire,
          theft, or other accidents, unless the Lessee proves that the cause for
          such damage was attributable to the Lessor.

     (2)  The Lessee shall, at its own expense, take out fire insurance for
          facilities installed by it; provided, however, that the Lessor shall,
          at its own expense, take out fire insurance for the leased building.

Article 12 (Prohibited Acts)

The Lessee may not engage in any of the following acts:

     (1)  An act that is unpleasant to the public, unauthorized installation,
          posting, or keeping of signboards, advertising or other materials;

     (2)  Bringing in any inflammables, dangerous goods, goods that may be
          harmful or offensive to the human body or goods that may damage other
          property;

     (3)  Bringing in or using heating or cooling equipment without the Lessor's
          prior approval or consent;

     (4)  Destroying any structure, machinery or other facilities installed by
          the Lessor, or changing any structure, advertisement materials or
          signboards without the Lessor's prior written consent;

     (5)  Manufacture or sale of illegal goods.

Article 13 (Installation of Facilities within the Leased Premises)

<PAGE>

     (1)  In the event that the Lessee desires to engage in any of the following
          acts within the Leased Premises at its own expense, the Lessee shall
          obtain prior written consent of the Lessor. In such case, the Lessor
          may restrict or oversee such acts for the purpose of ensuring the
          structural safety and unity of the Leased Premises.

          1)   Installing or remodeling fire walls, partitions, windows, doors,
               etc; or

          2)   Installing, adding or remodeling facilities for electric lights,
               power supply, communication, ventilation, gas, etc.

Article 14 (Repair)

In the event facilities installed within the Leased Premises by the Lessor as of
the date of this Agreement are worn out, faded or broke down, the Lessor shall
bear the cost of repair thereof.

Article 15 (Compensation for Damage)

     (1)  The Lessee shall immediately report to the Lessor all damage,
          destruction or loss of the Leased Premises or other facilities within
          the building arising out of any willful act or negligence by the
          Lessee or its employee or its clients, and shall compensate therefor.

     (2)  If the Lessee fails to report to the Lessor for a substantial period
          any damage caused by any third parties as set forth in Paragraph (1)
          above, such damage shall be deemed to be caused by the Lessee.

     (3)  The amount of damage according to this Article shall be calculated by
          the Lessor based on the price as of the time of compensation.

Article 16 (Restriction on Access)

The Lessor or its employees may access the Leased Premises with third parties

<PAGE>

during appropriate hours for the purpose of maintenance inspection, sanitation,
fire and crime prevention, rescue, or showing the Leased Premises to prospective
tenants before the end of the Lease Term with prior notice to the Lessee.

Article 17 (Termination of Agreement)

     (1)  The Lessor may terminate this Agreement within ten (10) days after
          giving a written notice to the Lessee in any of the following cases:

          1)   If the Lessee delays payment of the monthly rent, maintenance fee
               and any other payables hereunder for two or more months;

          2)   If a third party enforces provisional attachment, attachment,
               provisional disposition, or any other compulsory execution on
               Lessee's claim to the Security Deposit, or the Lessee offers the
               claim as a pledge or collateral;

          3)   If the Lessee enters into bankruptcy or insolvency, or an
               application for the commencement of a corporate reorganization
               proceeding has been filed against the Lessee;

          4)   If the Lessee is in breach of any provisions hereof or any
               agreements between the Lessee and the Lessor related to this
               Agreement;

          5)   If the Lessee delays occupation of the Leased Premises for more
               than two months;

          6)   If the Lessee vacates the Leased Premises for more than three
               months without reasonable grounds; or

          7)   If the Lessee is in breach of any other obligations hereof.

     (2)  The Lessee may terminate this Agreement within ten (10) days after
          giving a written notice to the Lessor in any of the following cases:

<PAGE>

     1)   If the Lessor fails to deliver the Leased Premises to the Lessee or
          delivers only part of the Leased Premises not enough to achieve the
          purpose of the lease;

     2)   If the Lessor fails to maintain the condition of the Leased Premises
          necessary for the Lessee's use of the Leased Premises in violation of
          Article 623 of the Civil Law; or

     3)   If there is material cause for termination, such as Lessor's failure
          to cooperate with the preservation of claims, or the Lessor is in
          breach of any of its obligations hereof.

Article 18 (Expiration of Agreement)

This Agreement shall expire in any of the following cases:

     (1)  the Lease Term has expired; or

     (2)  this Agreement is terminated in accordance with the provisions hereof.

Article 19 (Vacation of the Leased Premises and Restoration)

     (1)  Upon expiry, prior to the date of expiration of the Lease Term, the
          Lessee shall remove its belongings and property, return the keys and
          the Lessor's property and vacate all of the Leased Premises to the
          Lessor.

     (2)  If the Lessee fails to comply with the Lessor's lawful request for
          vacation, the Lessor may suspend electric power or water supply.

     (3)  In the event that Lessee fails to remove its belongings and property
          or restore the Leased Premises to their original conditions due to a
          cause attributable to the Lessee, the Lessee shall pay Lessor a
          penalty equal to twice the monthly rent and maintenance fee for the
          period beginning from the expiration of the Lease Term and ending on
          the fulfillment of the obligations to vacate and restore the Leased
          Premises.

<PAGE>

Article 20 (Force Majeure)

     (1)  The Lessor shall not be liable for any and all damages and
          inconveniences suffered by the Lessee or any third party related to it
          due to an act of God, war, riot, any other force majeure event or any
          other cause beyond reasonable control of the Lessor.

     (2)  Any of the force majeure events stipulated in Paragraph (1) above
          shall not delay the payment obligations that have already accrued
          hereunder.

     (3)  If any of the force majeure events stipulated in Paragraph (1) above
          prevents the Lessee from using the Leased Premises, the Lessee shall
          be exempted from its obligation to pay the monthly rent and
          maintenance fee for the period during which the Lessee can not use the
          Leased Premises.

Article 21 (Modification)

If reasonable and necessary reasons exist, the Lessor and the Lessee may modify
the terms and conditions hereof by mutual agreement in writing prior to the
expiry of the Lease Term.

Article 22 (Guarantor)

If the Lessor deems it necessary, the Lessor may, by agreement with the Lessee,
allow a guarantor to jointly guarantee the Lessee's performance of obligations
hereunder.

Article 23 (Application of General Laws and Others)

Matters which are not specified in this Agreement, or any discrepancy in the
provisions of this Agreement shall be settled in accordance with the relevant
laws and generally accepted lease practices by mutual agreement of the Lessor
and the Lessee.

<PAGE>

Article 24 (Jurisdiction)

The competent court for any disputes related to this Agreement shall be the
Seoul Civil District Court.

Article 25 (Management Rules)

The Lessor may enact, enforce or alter management rules and by-laws for the
preservation of the Lessors' property and management of the Lease Premises
pursuant to this Agreement, and the Lessor shall give a notice thereof to the
Lessee and obtain express consent of the Lessee in order to give such management
rules and by-laws force equivalent to that of this Agreement.

IN WITNESS WHEREOF, this Agreement shall be made in two (2) copies and each of
the copies duly executed by both Parties shall be kept by Lessor and Lessee.

March 2007

The Lessor

Address: LIG Insurance Co. LTD., LIG Tower 649-11 Yeoksam-dong, Gangnam-gu
Seoul, Korea 135-912

Name: Representative Director, President Woo Jin KIM [seal]

The Lessee

Address: GMARKET Inc., 8th floor, LIG Tower 649-11 Yeoksam-dong, Gangnam-gu
Seoul, Korea 135-912

Name: Representative Director, Young Bae KU [seal]<PAGE>

                                                                     Exhibit 4.2

English Translation

                                 LEASE AGREEMENT

This LEASE AGREEMENT (this "AGREEMENT") is hereby made and entered into by and
between:

LESSOR: Jin-Ho PARK, the representative of Fine Tower located at No. 24 of 826
Yeoksam-dong Gangnam-gu, Seoul

and

LESSEE: Young-Bae KOO, the representative director of Interpark G-Market Inc.
located at 6-8F LIG Insurance Bldg.. 649-11 Yeoksam-dong Gangnam-gu, Seoul.

The Parties hereby agree as follows:

                       DESCRIPTION OF THE LEASED PREMISES

            The 9th , 10th, 11th, and 12th floors of the building at
                  No. 24 of 826 Yeoksam-dong Gangnam-gu, Seoul
                              Total 1,137.20 pyung

                             Including common area.

1.   Term of Lease

This Agreement shall be effective from October 21, 2006 to October 20, 2008 (the
"LEASE TERM").

1. Security Deposit THREE BILLION ONE HUNDRED TWENTY-SEVEN MILLION AND THREE
HUNDRED THOUSAND KOREAN WON (KRW 3,127,300,000)

<PAGE>

1. Monthly Rent FORTY-SIX MILLION NINE HUNDRED AND NINE THOUSAND AND FIVE
HUNDRED KOREAN WON (KRW 46,909,500) (EXCLUDING VAT TO BE BORNE SEPARATELY BY
LESSEE)

     1. MONTHLY MAINTENANCE FEE Thirty million seven hundred and four thousand
and four hundred Korean Won (KRW 30,704,400) (excluding VAT to be borne
separately by Lessee) (Any increase in the maintenance fee shall be made equally
among lessees.)

     Lessee must pay for electricity. The maintenance fee includes gas used
between 8 am and 7:30 pm on weekdays and between 8 am and 1 pm on Saturdays.
Lessee must pay separately for gas used during other hours and heating or air
conditioning on holidays.

ARTICLE 1 (LEASE)

(1)  Lessor shall lease to Lessee, and Lessee shall lease from Lessor, the
     Leased Premises described above.

(2)  Lessee shall have no rights in the property other than to take possession
     of, and use, the Leased Premises as tenant.

(3)  Lessee may not use the Leased Premises as an exhibition hall, warehouse,
     private educational institute (hagwon) or for any purposes other than as a
     BUSINESS OFFICE SPACE.

ARTICLE 2 (SECURITY DEPOSIT)

(1) Upon the execution of this Agreement, Lessee shall pay Lessor the security
deposit described above as follows:

<TABLE>
<S>              <C>                                   <C>
Down payment     Upon the execution of this Agreement    KRW 300,000,000
Interim payment  October 10, 2006                      KRW 1,200,000,000
Balance          October 21, 2006                      KRW 1,627,300,000
</TABLE>

(2)  No interest shall accrue on the security deposit in the preceding
     Paragraph.

(3)  Lessee may not credit the security deposit toward the payment of monthly
     rent or other charges and may not assign its right to claim return of the
     security deposit nor establish a pledge or any other encumbrance on such
     right.

(4)  Lessor may make deduction from the security deposit without Lessee's
     consent only if Lessee has defaulted on the monthly rent or other charges,
     in which case Lessor shall notify Lessee and Lessee may not object to
     Lessor's deduction made in Lessor's sole discretion.

<PAGE>

ARTICLE 3 (CALCULATION OF MONTHLY RENT)

(1)  Regardless of the date on which Lessee moves into the Leased Premises, the
     monthly rent shall be calculated from the commencement date of the Lease
     Term.

(2)  If the Lease Term commences or terminates in the middle of a month, the
     monthly rent for such month shall be calculated on a daily pro-rated basis.

(3)  Lessee shall pay the monthly rent even if it fails to use the Leased
     Premises during the Lease Term, except where Lessee's failure to use the
     Leased Premises was due to a defect in the Leased Premises or other causes
     not attributable to Lessee.

(4)  Lessee shall make advance payment of monthly rent, maintenance fee and
     other charges to Lessor by the 5th day of each month.

ARTICLE 4 (DEFAULT INTEREST)

If Lessee defaults on its financial obligations toward Lessor under this
Agreement, such as payment of rent and maintenance fee, Lessee shall pay Lessor,
in addition to the unpaid amount, default interest accrued thereon at the annual
rate of 25%.

ARTICLE 5 (EXTENSION OF LEASE TERM)

Unless the Parties express otherwise in writing by at least three (3) months
prior to the expiration of the Lease Term, the Parties agree that the Lease Term
shall be extended for an additional term of one (1) year on the same terms and
conditions as those herein.

ARTICLE 6 (EARLY TERMINATION)

1.   If either Party intends to terminate this Agreement prior to the expiration
     of the Lease Term for its own reasons, the Party shall give written notice
     to the other Party at least three (3) months in advance, in which case the
     other Party shall not raise any objection and this Agreement shall be duly
     terminated.

2.   Notwithstanding the above, in the event Lessee terminates this Agreement
     for its reasons prior to the expiration of the Lease Term, Lessee shall pay
     Lessor the monthly rent and maintenance fees for three months as damages,
     and the return of the security deposit shall be delayed for three months.

ARTICLE 7  ADJUSTMENT OF SECURITY DEPOSIT AND MONTHLY RENT

<PAGE>

Lessor may increase the security deposit and the monthly rent described above by
consultation with Lessee if such increase is inevitable due to: (i) increase or
decrease in public charges or dues on the Leased Premises; (ii) increase in
security deposits and monthly rents in similar industries; or (iii) change in
cost of living and other economic circumstances.

ARTICLE 8 (INSTALLATION AND ALTERATION OF FACILITIES WITHIN LEASED PREMISES)

Lessee shall, at its own expense obtain Lessor's prior written consent by
submitting an Application for Approval of Construction Work with a drawing
attached to it at least two weeks prior to engaging in either of the following
acts:

1.   Installing or altering partitions, windows or interior furnishings within
     the Leased Premises; or

2.   Installing, moving, or altering electric lines, telephone lines, lighting,
     drainage or other facilities. Lessor's consent shall be invalid unless in
     writing. Lessor may supervise the works for purposes of ensuring structural
     unity of the building.

ARTICLE 9 (USE OF EXCLUSIVE PARKING LOT)

1.   Lessee may park up to four vehicles (per floor) free of charge in the
     building's parking lot designated by Lessor, and visitors may park for a
     parking fee. The car lift may not be used between 8 pm and 8 am the next
     day.

2.   Lessor shall not be liable for any damage to, or theft of, vehicles or
     freight therein resulting from fire, an act of God, or any other unexpected
     accident, if such incident is not attributable to Lessor and has occurred
     notwithstanding Lessor's fulfillment of duty of care.

3.   Lessee shall be liable for any damage done to the parking lot, any
     facilities annexed thereto or the vehicles of other persons resulting from
     negligence or willful misconduct of Lessee or its related parties.

4.   Lessor shall not be liable for any damage arising out of an accident
     resulting from negligence or willful misconduct of Lessee or its related
     parties in using the car lift.

5.   Any and all matters regarding parking order shall be subject to the
     instructions of Lessor.

ARTICLE 10 (PROTECTION OF PROPERTY)

Lessee shall be solely responsible for the security of its property, and Lessor
shall not be liable

<PAGE>

for loss of lives or any damage resulting from fire, theft, disaster, or any
other force majeure event, unless Lessor was in breach of its customary duties
as building manager prescribed under the law.

ARTICLE 11 (PROHIBITION OF ASSIGNMENT AND SUBLEASE)

(1)  Lessee may not assign, resell, sublease (including sublease in part) its
     rights in this Agreement, nor grant a pledge or encumbrance on this Lease
     to a third party.

(2)  Lessee may not claim any rights including premium in accordance with the
     terms specified herein.

(3)  In the event that Lessee breaches any of the above provisions Lessor may
     immediately terminate this Agreement without notice and Lessee may not
     raise any objection to such termination.

(4)  Lessee may not allow a third party to share or use the Leased Premises or
     post the name of the third party in connection with the Leased Premises
     without Lessor's written consent.

ARTICLE 12 (PROHIBITION OF RESIDENCE)

Lessee may not use the Leased Premises as residence, provided, however, that
Lessee may employ night watchmen on a shift basis upon written consent of
Lessor.

ARTICLE 13 (PROHIBITIONS)

Lessee may not engage in any of the following acts:

1.   Installing or posting of signboards or advertisement repulsive to the
     public or obstructive to common facilities or abandon appliances, supplies,
     or goods;

2.   Bringing in or keeping any inflammables, dangerous goods or other goods
     that are harmful or offensive to the human body or that may damage property
     and any other objects the use of which is banned by Lessor;

3.   Making noises, playing musical instruments, and keeping pets other than in
     aquariums;

4.   Installing exterior signboards;

5.   Using vending machines and individual heating or cooling equipment; or

6.   Any act in violation of the management agreement attached hereto.

ARTICLE 14 (OBLIGATION TO NOTIFY)

<PAGE>

Lessee shall without delay notify Lessor in writing, with any necessary
documents attached thereto, if:

1.   its trade name or representative has changed; or

2.   it has changed from a sole proprietorship into a corporation or vice versa.

ARTICLE 15 (OBLIGATIONS OF LESSEE)

Lessee and its employees must comply with all laws and regulations in conducting
business and comply with all rules set by Lessor regarding the maintenance, use
and management of the Leased Premises and its facilities.

ARTICLE 16 (TERMINATION)

In the event of any of the following, Lessor may demand correction by Lessee
and, if Lessee fails to make correction within 15 days after Lessor's request
for correction, may terminate this Agreement immediately:

1.   Lessee has defaulted on its financial obligations such as payment of the
     rent and other charges payable to Lessor for not less than one (1) month;

2.   Lessee has damaged Lessor's reputation and credit;

3.   Lessee has breached any of the provisions herein or any of the rules and
     guidelines provided by Lessor;

4.   Lessee has violated any law or regulations;

5.   a third party has attached, provisionally attached, or made provisional
     disposition of the security deposit, or Lessee has been declared
     quasi-incompetent, incompetent, or bankrupt, or has become subject to a
     material cause, which renders the continuation of this Agreement
     impossible; or

6.   a need has arisen to use the Leased Premises for public interest.

ARTICLE 17 (EXPIRATION)

This Agreement shall expire if:

1.   the Lease Term has expired;

2.   this Agreement has been terminated by Lessor pursuant to Article 11(3) and
     the preceding Article; or

3.   this Agreement has been terminated pursuant to Article 6.

<PAGE>

ARTICLE 18 (RETURN OF SECURITY DEPOSIT)

In the event of expiry or termination of this Agreement pursuant to the
preceding Articles, Lessor shall return the security deposit to Lessee
concurrently with Lessee's surrender of the Leased Premises to Lessor, provided,
however, that any and all remaining liabilities payable by Lessee to Lessor
hereunder, including rent and maintenance fee, shall be deducted from the
security deposit by Lessor, and the balance, if any, after such deduction shall
be refunded to Lessee.

ARTICLE 19 (LIMITATION OF LIABILITY OF LESSOR)

Lessee shall be solely responsible for the safe management of its property, and
Lessor shall not be liable for any damage resulting from fire or theft or any
other loss or damage within the Leased Premises, unless Lessee proves that such
loss or damage was caused by the negligence of Lessor.

ARTICLE 20 (INDEMNIFICATION)

(1)  Lessee shall manage the Leased Premises with the care required of a good
     manager.

(2)  In the event Lessee, its employees, or customers have willfully or
     negligently caused damage to Lessor, Lessee shall immediately notify Lessor
     and indemnify Lessor against such damages.

(3)  The amount of damages shall be determined by mutual consultation based on
     the market price at the time of indemnification.

ARTICLE 21 (PAYMENT ALLOCATION)

Lessee's payment shall be allocated in the following order: default interest,
maintenance fee, rent, and security deposit.

ARTICLE 22 (DEFINITION OF EMPLOYEES)

For the purpose of this Agreement, Lessee's employees shall mean any and all
officers and employees engaged in the business of Lessee and any other employees
related to the business operations of Lessee.

<PAGE>

ARTICLE 23 (VACATION AND RESTORATION)

(1)  Lessee shall remove its possessions and property from the Leased Premises
     by the day preceding the expiration date hereof in case of expiration of
     the Lease Term, or by the vacation date designated by Lessor in case of
     early termination of this Agreement. Lessee shall vacate the property of
     Lessor after restoring the same to its original condition as described in
     the construction completion drawing.

(2)  Lessee agrees that at vacation, it shall not claim the return of the cost
     of installing fixtures or the cost of interior work under Article 11 on the
     ground that they were performed at Lessee's cost, claim any lien or claim
     for any other rights or payment against Lessor.

(3)  If Lessee breaches Paragraph (1) above for its own reasons, Lessee shall
     pay Lessor an amount equivalent to the usual rent and other charges
     calculated from the expiration date hereof or the vacation date designated
     by Lessor until the actual date of vacation or restoration.

(4)  In the event that the Leased Premises are not restored for a cause
     attributable to Lessee, Lessor may, at its discretion, undertake
     restoration work and apply the security deposit of Lessee toward the
     payment of the cost and expenses associated therewith, and Lessee shall not
     raise any objection, civil or criminal.

ARTICLE 24 (VACATION ON BEHALF OF LESSEE)

(1)  If Lessee fails to remove its property and possessions from the Leased
     Premises after the expiration of the Lease Term, Lessor may, at Lessee's
     responsibility and expense, remove the same to the address of Lessee or its
     guarantor specified herein below, provided, however, that if such removal
     is unfeasible under special circumstances, Lessor may, at Lessee's
     responsibility and expense, have Lessee's property and possessions in
     custody of a third party.

(2)  Lessor shall not be liable for any and all damage arising out of, or in
     connection with, the removal according to the preceding Paragraph.

(3)  In the event of Paragraph (1), Lessee shall pay Lessor an amount equivalent
     to the usual rent and other charges calculated from the expiration date
     hereof to the date of removal or the date on which Lessee's property and
     possessions are placed under the custody of a third party.

(4)  In the event of Paragraph (1), Lessee may not protest against Lessor on
     grounds of invalidity of this Agreement or other grounds.

<PAGE>

ARTICLE 25 (CONSTRUCTION)

Any discrepancy in interpretation of this Agreement between the Parties shall be
resolved in accordance with the applicable laws.

ARTICLE 26 (SETTLEMENT BEFORE LITIGATION)

In order to prevent any possible disputes that may arise during or after the
Lease Term, the Parties agree to reach a settlement before litigation with
respect to the vacation and return of the security deposit hereunder. Any
expenses incurred in connection therewith shall be borne by the respective
Parties.

ARTICLE 27 (JURISDICTION)

Any lawsuit arising out of, or in connection with, this Agreement shall be
brought before the competent court having jurisdiction over the address of
Lessor.

ARTICLE 28 (OTHER)

Any matters not specified hereunder shall be subject to rules and guidelines
provided by Lessor.

IN WITNESS WHEREOF, this Agreement shall be made in two (2) counterparts,
executed by both Parties and one counterpart kept by each Party.

*    Special Conditions:

1.   After execution of this Agreement, Lessee may request Lessor to complete
     the registration of Lessee's leasehold right (cheonseikwon), and Lessor
     shall respond in god faith without objection.

2.   In the event that the mortgagee holding the the first priority
     keun-mortgagee at present (which is Woori Bank) is changed to another bank
     due to reasons of Lessee, Lessee shall immediately deliver to Lessor any
     and all documents necessary to terminate Lessee's leasehold right
     registration to enable the new bank to become the new first priority
     keun-mortgagee, provided, however, that the keun-mortgage amount may not
     exceed the currently established keun-mortgage amount and the certified
     judicial scrivener of the both Parties shall perform the

<PAGE>

     necessary work concurrently. Lessor shall restore Lessee's leasehold right
     to its original position as soon as the first priority keun-mortgage is
     established for the new bank. Any and all expenses incurred in the process
     shall be borne by Lessor.

September 16, 2006

Lessor: Fine Tower
Name: Representative Jin-Ho PARK (seal) (signature) (seal)
Business Registration No.: 220-02-72306
Address: 76-401 Hyundai Apt. 456 Apgujeong-dong Gangnam-gu, Seoul

Lessee: Interpark G-Market Inc.
Name: Representative Director Young-Bae KOO (seal)
Business Registration No.: 220-81-83676
Corporation Registration No.: 110111-1934151
Address: 6-8F LIG Tower 649-11 Yeoksam-dong Gangnam-gu, Seoul

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