Document:

EXHIBIT 10.14

The  bank  shall  explain  the  key contents of this contract and distribute the
copies  of  this  contract and the bank's standard contract of loan transaction.

                      CONTRACT OF LOAN (LIMIT) TRANSACTION
                      ------------------------------------
                       (For limit transaction, enterprise)

To  Korea  City  Bank                              Date   2005.11.29

Name                             (Sign)
      ---------------------------------
Address

   I understand that in the revolving loan transaction (includes current account
loan  and  savings  loan)  with  Korea City Bank (hereinafter referred to as the
"Bank")  according  to the conditions hereinafter, the standard contract of loan
transaction  (includes  deposits  transaction  contract  for enterprise, current
account  loan  and savings loan) will be applied. I duly recognize the following
articles.

                           CHAPTER 1 GENERAL CONTRACT

ARTICLE  1  LOAN  LIMIT
1.  The revolving loan limit is as follows, as long as it is within the range of
the  sum  of  actual  balance  (for  foreign  currecy loan, won exchange rate of
customer  telegraphic  transfer  sales rate is applied) of each independent loan
type  limit  amount  does  not exceed the each respective loan type limit or the
total  limit.

<TABLE>
<CAPTION>

<S>            <C>              <C>            <C>                 <C>
Total limit    Loan type limit                 Loan subject limit
               ------------------------------  ---------------------------------
               Type             Amount         Type                Amount
-------------  ---------------  -------------  ------------------  -------------
Three hundred
million won                                                        Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
                                                                   Won
-------------  ---------------  -------------  ------------------  -------------
</TABLE>

2. This clause is also applied to the amount over the limit in loans temporarily
over  the  limit  (includes  addition  of new loan subjects) due to the debtor's
need.

ARTICLE  2  PERIOD  OF  TRANSACTION
The  period  of  transaction  for  this  contract  is  until

                                        1
<PAGE>
ARTICLE  3  METHOD  OF  EXECUTION  OF  LOAN
Loan  is  executed  upon  request  of  the  debtor  with certain qualifications.

ARTICLE  4  INTERESTS  AND  ARREARS  COMPENSATION
1.  Interest rate for the loan amount is as follows and is paid according to the
method  and  time  (for  current  account  loan  and  saving  loan, each monthly
settlement  day  decided  by  the  bank)  decided  by  the  bank  (listen to the
employee's  explanation  and place a  check  mark inside the appropriate  [ ]  )
<TABLE>
<CAPTION>

<S>           <C>                          <C>                     <C>
                                                                   Arrears compensation
Loan subject  Interest rate                                        rate
------------  ---------------------------------------------------  --------------------
              Fixed (standard              Variable (standard
              contract of loan             contract of loan        Standard contract of
              transaction Article 3        transaction Article 3   loan transaction
              Clause 2 Section 1)          Clause 2 Section 2)     Article 3, Section 5
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
              [ ]   % pa until expiry of
              loan contract                   [ ]    + (   ) % pa  Maximum   % pa
------------  ---------------------------  ----------------------  --------------------
</TABLE>

[x]  Any  bank deposit repayments through ATMs or electronic banking means after
bank  business  hours  may  not  be  recorded  as  being  repaid  on  the  day

2. In the event interest is not paid by the due date, arrears compensation shall
be  made  according  to  the  amount  that  was  to  be  paid.

3.  In  the  event  the  debt is not discharged at the expiry of the loan or the
interest  of  the  expiry  date  lost  according  to  standard  contract of loan
transaction  Article  7,  arrears  compensation  shall  be made according to the
amount  of  loan  remaining.

4.  For  current  account loan and savings loan, if the limit amount is exceeded
through  limit-exceeding  payment  and interests principal, arrears compensation
shall  be  made  according  to  the  amount  exceeded.

5. In calculating interests and arrears compensation, 365 days are considered as
1  year, but in foreign transactions, international and business customs will be
applied.

ARTICLE  5  EXECUTION  PERIOD  OF  LOAN
The  execution period of the loan limit and loans for each transaction period in
Article  1  and  2  is  as  follows.

                                        2
<PAGE>
1.  Each  loan  execution  period  is  decided  separately  for  each  loan.

2.  If  there  are  no specific clauses in the section before or is unclear, the
debtor  shall make repayments on the repayment date decided by the bank based on
bills  and  other  debt  deeds.  This  repayment  date  maybe extended at bank's
discretion.

ARTICLE  6  REDUCTION  AND  SUSPENSION
1. In the case of a line transaction or an installment loan, the bank may decide
to reduce the loan (line) amount in Article 1 through notice or temporarily stop
the loan execution regardless of the transaction period due to sudden changes in
national  economy  and  financial state or significant deterioration of personal
credit  state  of  the  loanee.  In  this  event the loanee shall pay any amount
exceeding  the  line  due  to  the  reduction.

2. The bank shall withdraw the reduction or the suspension caused by the reasons
stated  in  Clause  once  such matters are solved and normal loan transaction is
possible.

ARTICLE  7  SPECIAL  OFFSET  CLAUSE  FOR  DEPOSIT  TRUST  LOAN
1. For deposit trust loan, in the event related monthly deposit is delayed for 4
times  or  more,  the bank may offset the related deposit and loan amount before
expiry  of  loan  period  through  notification.

2.  For  deposit  trust  loan,  arrears  compensation  shall  be  made as to the
interests  to  be paid before offset and the loan amount remaining after offset.

ARTICLE  8  SERVICE  CHARGE  FOR  REMAINING  LIMIT  IN  THE  CONTRACT
1.  In  the event there is a separate clause for any remaining amount within the
credit  limit  set  in  Article 1, service charge shall be paid according to the
standards  set  by  the  clause.

ARTICLE  9  REVENUE  STAMP
1.  Revenue  stamp cost incurred by this contract shall be paid by ([ ]loanee, [
]bank,  [  ]loanee  and  bank  50%  each  ).

2.  In the event the bank pays the revenue stamp cost that was to be paid by the
loanee  according  to Clause 1, it shall be paid within a short period according
to  bank's  standard  contract  of  loan  transaction  Article  4.

ARTICLE  10  SUBMISSION  OF  BILL OF DEBT AND CONFERMENT OF SUPPLEMENTARY RIGHTS
1.  In  loans  concerning  installment  repayment  loan,  bill  loan  and  line
transaction  (excluding current account loan), a copy bill of debt excluding its
value and payment date will be published, endorsed by joint surety and submitted
to  the  bank.

2. The bank may supplement and exercise the blank bill in Clause 1 if the debtor
does not pay the debts until the expiry of repayment date or transaction period,
or  loses  its  rights  due  to  Article  7  of  the  standard  contract of loan
transaction  (enterprise).

3.  The  amount  of bill in the event of exercising Clause 2 shall be within the
sum  of principal, interests, arrays compensations and other miscellaneous costs
incurred.

ARTICLE  11  PLEDGE
1.  A  pledge  has  been  placed  on the deposit shown below and transfer of its
evidence  (bank  book) to the bank complete for the security of the debt by this
contract.

2. The effect of the pledge in Clause 1 includes principal and interest, earning
rights (includes any amount deposited after the contract) and any collaterals to
the above including interests, earning rights to earnings, special subsidies and
court  subsidies.

                                        3
<PAGE>
3.  The  effects  of the above pledge will persists in the event of extension of
period,  rewriting,  renewal, division, incorporation, augmentation or reduction
of the deposit, and if the trust, the target, has been extended or automatically
extended  due  to  arrears  the  pledge will still have effect above its earning
rights.

4.  The bank may elect not to exercise the pledge stated in Clause 1 and instead
opt for proxy appropriation of restoration repayment or apply commercial customs
for  the  debt  of  the bank and the deposit shown below according to the bank's
standard  contract  of  loan  transaction.
*  Deposits  for  the  purpose  of  pledge
<TABLE>
<CAPTION>

<S>   <C>               <C>          <C>                   <C>                          <C>           <C>

        Deed record     Holder or
        number          truster      Amount                Total deposit
Type    --------------  -----------  (Contractual          Amount til                   Date on deed  Payment date
                                     Amount)               20  .  .
        Account number  Beneficiary
------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------
</TABLE>

Note:  Use  only  if  the  pledge  is  in  the  name  of  the  debtor

ARTICLE  12  DUTY  OF  MAINTENANCE  OF  REPAYMENT  MEANS
1.  I  shall maintain adequate financial ratio as shown below for the purpose of
maintaining  repayment  means  for  the  debts incurred by this contract. In the
event  of  other  clauses  such  as Financial Structure Improvement, it shall be
affixed  to  the  end of this transaction contract and considered a part of this
transaction  contract.

Classification       20  .     20  .     20  .     20  .     20  .
----------------     -----     -----     -----     -----     -----
Debt ratio               %         %         %         %         %
Self asset ratio         %         %         %         %         %
(      )ratio            %         %         %         %         %
(      )ratio            %         %         %         %         %

2. In the event of the following, the bank shall be consulted and agreed upon in
advance.
     1.  Merger,  business transfer/acquisition and other sale/rent of important
assets
     2.  Investment  on  fixed  assets  for  reasons other than specified in the
contract
     3.  Surety  for  other's  debts
     4.  Entering  new  business  or  foreign  investment
     5.  Company  structure  work  out,  privatization, or any other significant
management  changes

                                        4
<PAGE>
3.  I  shall agree to the acts of following sections if the bank so requires for
the  maintenance  of  the  transaction  contract.
     1.  Sales  of  owned  real  estates  or  securities
     2.  Investment  of  majority  shareholder
     3.  Issuance  of  new shares to be purchased or going public of the company

4.  The  1st  and  the  3rd  Clause  will only be applied in the presence of any
special  agreements  for  each  Clause  between  the  loanee  and  the  bank.

ARTICLE  13  SUBMISSION  OF  DATA
1.  I  agree  to  submit the following documents stated below in each respective
period and any other documents required for the maintenance of the loan contract
on  the bank's request according to bank's standard contract of loan transaction
Article  17  and  Article  19.
     1.  Each  quarter  :  Surtax returns, trial balance of totals and balances,
statement  of  current  debts,  sales  estimates  to  customers  and  of  items
     2.  Each  half-year  :  Half-year  accounts  report,  surtax returns, trial
balance  of  totals and balances, statement of current debts, sales estimates to
customers  and  of  items
     3.  Each  year : Certified public accountant's inspection report (financial
statement  of  settlements),  related  statement  of  settlements,  corporation
registration  transcript,  business  registry,  shareholders  book,  article  of
corporation,  summary  sheet of earned income tax collected, estimated statement
of settlements (3 years), state of major business relations, copies each permits
and  technology  permit  related  documents  (KS,  ISO,  patent  rights,  etc),
labor-management  dispute  statement,  miscellaneous  product  descriptions,
concentric  trades  reference  data,  etc.
     4.  On  demand : Trial balance of totals and balances, statement of current
debts,  documentary  evidence  of  asset  spending,  etc.

2.  I  agree to submission of the following documents on request of the bank for
the  purpose  of  the  company's  foreign  currency  risk  state and maintenance
conditions  in  evaluating  credit  information.
     1.  Foreign currency risk maintenance structure and maintenance regulations
conditions
     2.  Foreign  currency  supply  and  application  statement
     3.  Foreign  currency  derivative  product  trade  statement

ARTICLE  14  MEASURES  AGAINST  SUBMISSION  OF  FALSE  DATA
1.  If  any  false  information  or  any false acts in writing out the documents
related  to  loan contract, the bank may invoke bank's standard contract of loan
transaction  Article  7  Clause  4  Section 5 in loss of period rights, and also
terminate  applications  for  new  loans  as  well as take other legal measures.

2.  If part or all of contents of the documents separately submitted to the bank
other  than  contracts,  special  contracts  or self-recovery plan, the bank may
terminate applications for new loans and invoke bank's standard contract of loan
transaction  Article  7  Clause  4  Section  5  in  loss  of  period  rights.

 CHAPTER 2 SPECIAL CONTRACTS ON CURRENT ACCOUNT LOAN AND SAVING LOAN TRANSACTION

ARTICLE  15  PAYMENT  OF  LOAN  AMOUNT
1.  In  the  event  of  existence  of debt incurred by this contract, and assets
(deeds are exempted until settled, deposited bills are considered transferred to
the  bank  as  a  security  to the bank) deposited registered in savings loan or
current  account  loan  (hereinafter  referred  to as the "target account") will
automatically  used  to  repay  loan  amount.

2.  In the event of withdrawal request exceeding the balance of the savings loan
account  or  current  account loan account, automatic payment request of regular
payment  and  other  various  bills,  the  amount  is  considered as having been
withdrawn  or  automatically  paid  from  the  target  account.

                                        5
<PAGE>
3.  The  bank  may  pay  an amount exceeding the loan limit in Article 1 without
notice to the debtor for use in payment of interest principals and for payout of
bills  and  checks.  In  this case, the debtor shall compensate for the exceeded
amount.

4. Interests and arrears compensation shall be subtracted from target account or
added  to  the loan amount regardless of the limit amount in Article 1, in which
case  compensation  shall  be  made.

5.  Loan  amount shall be repaid freely over time, the remaining amount shall be
repaid temporarily before or on the expiry of first revolution, the whole amount
shall  be  repaid  on  the  expiry  of  loan  period.

[x]  Any  bank deposit repayments through ATMs or electronic banking means after
bank  business  hours  may  not  be  recorded  as  being  repaid  on  the  day

ARTICLE  16  SPECIAL  CONTRACT  ON  CURRENT  ACCOUNT  LOAN
1. The loan period for one current account loan shall be determined by the bank.

2.  In  the event of incurring claims to the bank through bills or checks issued
by  the  debtor  due  to  this  contract, the amount shall be considered as loan
amount  debt  and  repaid  according  to  this  contract.

3.  If  bills  or  checks  issued before reduction or suspension in Article 6 is
refused  payout,  there  will  be  no  disputes.

4.  If  required, such as significant disadvantage to the debtor through refusal
of  payout of checks or bills, the bank may payout bills or checks issued before
the  expiry  of  the loan transaction after the expiry of loan transaction.  The
loan amount incurred through this process will also be subject to this contract.

                     CHAPTER 3 MISCELLANEOUS SPECIAL CLAUSES

                                 (Name)                                   (Sign)
---------------------------------------     ------------------------------------

I  have  received the bank's standard contract of loan transaction and the copy
of  this  contract,  and  have  sufficiently  heard  and understood its contents

                                 (Name)                                   (Sign)
---------------------------------------     ------------------------------------

(Affix  Revenue  Stamp  here)

                                        6
<PAGE>EXHIBIT 10.15

                          CONTRACT OF LOAN TRANSACTION
                                  (Enterprise)

The  bank  shall  explain  the  key contents of this contract and distribute the
copies  of  this  contract and the bank's standard contract of loan transaction.
--------------------------------------------------------------------------------

Corporation  Shinhan  Bank                                      Date: 2003.02.21

                   Customer Number:
                   Name (pledgee):                            (Sign)
                                   ---------------------------------
                   Address:

                   Pledgee:                                   (Sign)
                                   ---------------------------------
                   Address:

I  understand  that  in  the  loan  transaction  with  Corporation  Shinhan bank
(hereinafter referred to as the "Bank") according to the conditions hereinafter,
the  standard  contract  of  loan  transaction  (includes  deposits  transaction
contract for enterprise, current account loan and savings loan) will be applied.
I  duly  recognize  the  following  articles.

ARTICLE  1  CONDITIONS  OF  TRANSACTION
  The  conditions  of  transaction  are  as  follows.
  (In  the  event  there  are  multiple choices, please listen to the employee's
explanation  and  place  a  check  mark  inside  the  appropriate  [  ]  )
<TABLE>
<CAPTION>

<S>               <C>                               <C>                          <C>
------------------------------------------------------------------------------------------------------------
                                                    Transaction                  [ ] Line transaction
Loan subject:                                       classification:              [ ] Independent transaction
----------------  --------------------------------  ---------------------------  ---------------------------

Loan(Limit)
Amount            Two Billion Won, W 2,000,000,000
----------------  ------------------------------------------------------------------------------------------
Commencement
Date              200  .   .                        Expiry date                  200   .  .
----------------  --------------------------------  ---------------------------  ---------------------------
                  [ ] Fixed (standard
                  contract of loan                                               Period of Interest
Interest rate,    transaction Article 3             % pa until expiry            Variation
miscellaneous.    Clause 2 Section 1)               (                 )          (                     )
----------------  --------------------------------  ---------------------------  ---------------------------

                                                    [ ] Market interest variable loan or (new) standard
                  [ ] Variable (standard                variable loan: (    ) + (    ) %
                  contract of loan                  [ ] Deposit interest variable loan: deposit interest +
Interest rate,    transaction Article 3                 (        ) %
miscellaneous.    Clause 2 Section 2)               [ ] Single interest variable loan: single interest (   )
                  --------------------------------  --------------------------------------------------------
                  For installment loan, each independent loan execution date interest is applied
----------------  ------------------------------------------------------------------------------------------
                  1. With 365 days considered as 1 year, interest is calculated on a daily basis. But
Calculation of    in foreign transactions, international and business customs will be applied.
interest and      2. Arrears compensation rate is determined by the bank, at maximum ( ) % pa.
arrears           3. Delayed addition rate is ( ) % if delay is within ( ) months, ( ) % within () months,
compensation      and ( )% for over ( ) months.
----------------  ------------------------------------------------------------------------------------------
                  [ ] Market interest variable loan - Premature repayment loan amount X {(    ) % + interest
                  difference (%) X (remaining days/365)} (Maximum    %)
                  [ ] (new) Standard interest variable loan, market interest fixed loan, foreign currency
Premature         loan, single interest loan - more than 1 year remaining : Premature repayment loan amount
repayment         X (  )%     - less than 1 year remaining : Premature repayment loan amount X (  )%
service charge    [ ] Miscellaneous (                                     )
----------------  ------------------------------------------------------------------------------------------
Limit contract
Service charge    [ ] Loan limit amount X ( )% pa paid according to Article 7
----------------  ------------------------------------------------------------------------------------------
</TABLE>

                                        1
<PAGE>
<TABLE>
<S>               <C>                                                            <C>
                  [ ] Execute the whole amount on commencement of loan
                  [ ] Part execution after confirmation of the bank of capital purpose and required amount
                  based on documentary evidence and spot goods
                  [ ] Execute as required by the customer with preset credentials
Method of loan    [ ] Miscellaneous
execution         (                                                         )
----------------  ------------------------------------------------------------------------------------------
                  [ ] Repayment of the whole amount on expiry of loan
                  [ ] Defer payment for ( ) years ( ) months after
                  commencement, installment repayment from ( ) ( ) ( ) every
                  ( )months
                  [ ] After final loan execution, installment repayment
                  every ( ) months from ( ) ( ) ( ) without deferring
                  [ ] Installment repayment every month on the
                  corresponding day of execution of loan from loan
                  execution
                  [ ] Repaid freely over time, the remaining amount shall
                  be repaid temporarily before or on the expiry of first
                  revolution, the whole amount shall be repaid on the expiry
                  of loan period                                                 [x]  Any  bank  deposit
Method of         [ ] Miscellaneous                                              repayments  through ATMs or
repayment         (                                        )                     electronic  banking  means
----------------  ----------------------------------------------------------     after  bankbusiness  hours
                  [ ] Initial interest on commencement, latter interests         may not berecorded as being
                  will be paid prior on upon final calculation of paid           repaid on theday
                  interest
                  [ ] Paid prior before expiry of bill
                  [ ] Initial interest will be paid within ( ) months of
                  commencement, latter interests will be paid within ( )
                  months of the day after final calculation of paid interest
                  [ ] Paid on repayment date of installment repayment
Time and method   principal and interest or payment date of monthly deposit
of interest       [ ] Paid upon expiry on loan period
payment and       [ ] Miscellaneous
method            (                                                         )
----------------  ------------------------------------------------------------------------------------------
                  Concerning deposit trust loans, if monthly deposit is arrayed for 4 consecutive months,
Offset special    the bank may offset related account and loaned money before the expiry of loan period
condition         with notice
----------------  ------------------------------------------------------------------------------------------
</TABLE>

                                        2
<PAGE>
ARTICLE  2  ALTERATION  OF  LOAN  INTEREST  RATE
1. "Market interest variable loan" refers to loans that change interest rate due
to  changes in market standard interest or announced interest, and is applied to
sections  hereinafter.
  1. The market standard interest of market interest variable loan means for won
currency  loan  interest selected by the customer during the initial application
of average of last 3 days' interest announced by the bank on loan execution date
or  interest  change  date  among the following retail earning rates; CD91 days'
worth,  bank  debenture  6  months'  worth,  bank debenture 1 year's worth, bank
debenture 2 years' worth, bank debenture 3 years' worth, bank debenture 5 years'
worth.  For  foreign  currency  loan, it means interest selected by the customer
during  the  initial application among the following; LIBOR 1 month, 3 months, 6
months,  12  months' worth. FOR INDIVIDUAL DIFFERENCES IN EACH RESPECTIVE MARKET
STANDARD  INTEREST,  THE  FOLLOWING  CHANGE  PERIOD AND APPLICATION PROCEDURE IS
APPLIED.
     (1)  CD  90  DAYS'  WORTH  STANDARD  INTEREST apply 3 business days' simple
     average  interest  of  CD  91  days'  worth  retail earning rate ad valorem
     announced by KSDA on loan execution date and that date every 3 months. Thus
     the  interest  rate  changes  every  3  months.
     (2)  BANK  DEBENTURE  6  MONTHS'  WORTH  STANDARD INTEREST apply 3 business
     days'  simple  average interest of periodical bank debenture AAA ad valorem
     announced  by  KIS  Bond  Pricing and Korean Bond Pricing on loan execution
     date  and  that date every 6 months. Thus the interest rate changes every 6
     months.
     (3)  BANK  DEBENTURE  1  YEAR'S  WORTH  STANDARD  INTEREST apply 3 business
     days'  simple  average interest of periodical bank debenture AAA ad valorem
     announced  by  KIS  Bond  Pricing and Korean Bond Pricing on loan execution
     date  and  that date every year. Thus the interest rate changes every year.
     (4)  BANK  DEBENTURE  2  YEARS'  WORTH  STANDARD  INTEREST apply 3 business
     days'  simple  average interest of periodical bank debenture AAA ad valorem
     announced  by  KIS  Bond  Pricing and Korean Bond Pricing on loan execution
     date  and  that  date every 2 years. Thus the interest rate changes every 2
     years.
     (5)  BANK  DEBENTURE  3  YEARS'  STANDARD  INTEREST  apply 3 business days'
     simple  average  interest  of  periodical  bank  debenture  AAA  ad valorem
     announced  by  KIS  Bond  Pricing and Korean Bond Pricing on loan execution
     date  and  that  date every 3 years. Thus the interest rate changes every 3
     years.
     (6)  BANK  DEBENTURE  5  YEARS'  WORTH  STANDARD  INTEREST apply 3 business
     days'  simple  average interest of periodical bank debenture AAA ad valorem
     announced  by  KIS  Bond  Pricing and Korean Bond Pricing on loan execution
     date  and  that  date every 5 years. Thus the interest rate changes every 5
     years.
     (7)  LIBOR  1  MONTH'S  WORTH  STANDARD  INTEREST  applies the business day
     interest supplied by official communication institution (Reuters, Telerate,
     Bloomberg, etc) and announced by BBA (British Bankers Association) on 11 am
     in London, United Kingdom on loan execution date and that date every month.
     Thus  the  interest  rate  changes  every  month.
     (8)  LIBOR  3  MONTHS'  WORTH  STANDARD  INTEREST  applies the business day
     interest supplied by official communication institution (Reuters, Telerate,
     Bloomberg, etc) and announced by BBA (British Bankers Association) on 11 am
     in  London,  United  Kingdom  on  loan execution date and that date every 3
     months.  Thus  the  interest  rate  changes  every  3  months.
     (9)  LIBOR  6  MONTHS'  WORTH  STANDARD  INTEREST  applies the business day
     interest supplied by official communication institution (Reuters, Telerate,
     Bloomberg, etc) and announced by BBA (British Bankers Association) on 11 am
     in  London,  United  Kingdom on loan execution date and that date 6 months.
     Thus  the  interest  rate  changes  every  6  months.
     (10)  LIBOR  12  MONTHS'  WORTH  STANDARD INTEREST applies the business day
     interest supplied by official communication institution (Reuters, Telerate,
     Bloomberg, etc) and announced by BBA (British Bankers Association) on 11 am
     in  London,  United  Kingdom  on loan execution date and that date every 12
     months.  Thus  the  interest  rate  changes  every  12  months.
   2. The announced interest of market standard interest variable loan means the
simple  average  interest  of  3  business  days of CD 91 days' worth ad valorem
announced  by  KSDA, and based on simple standard interest, periodical announced
interest  calculated  daily from day 1 till year 30, including asset expenditure
of bank debenture AAA of bank debenture 6 months' worth, bank debenture 1 year's
worth,  bank  debenture  2  years'  worth,  bank  debenture 3 years' worth, bank
debenture  5  years' worth of ad valorem announced by KIS Bond Pricing and Korea
Bond Pricing. For discount bills, purchase funds, trade funds will be applied in
addition  to  independent  daily announced interest considering total limit loan
effect,  for  current  account  loan and comprehensive savings loan the interest
announced  by  the  bank  will  be  applied  daily  to  each respective balance.

                                        3
<PAGE>
2.  "(new)Standard  interest  variable  loan  means loans with variable interest
altered  by  application  of  (new)standard  interest  announced  by  the  bank,
(new)standard  interest  refers  to  interest  calculated  by adding appropriate
expenditure,  margin  and work principal to the bank's average supply principal,
and  is  applied  to  the loan interest rate each time (new)standard interest is
changed.

3.  "Single  interest variable loan" means loans with applied interest announced
by  this  bank  or  fund  loan  institutions,  the interest rate will be applied
according to each loan subject and the change of announced interest of this bank
or  fund  loan  institutions  during  the  contract  period.

4.  "Deposit  interest  variable  loan"  means  pledging the customers' deposits
banking  as guarantee, the interest rate will be applied according to the change
of  deposit  interest  of  the  deposit  banking.

ARTICLE  3  PREMATURE  REPAYMENT  SERVICE  CHARGE
1.  In the event of premature repayment of the loan (includes extended period if
loan  period  was  extended), premature repayment service charge will be paid to
the  bank  as  to  Article  1.

2. The premature repayment service charge is calculated by multiplying premature
repayment  loan amount to the premature repayment service charge rate in Article
1,  the  calculation  of  premature  repayment  loan  amount  is  as  follows.
   1.  "Premature  repayment loan amount" is the loan amount to be repaid before
the  expiry  of contract, for installment repayment loan it includes loan amount
repaid  before  the  date  of  agreed  upon  installment  repayment.
   2.  "Remaining  days"  is  the  number  of  days  from  the date of premature
repayment  to the initial date of contract, for installment repayment loan it is
calculated for each installment amount, premature repayment is made in the order
of  expiry  of  installment  repayment  date.
   3.  "Interest  difference"  is  the  agreed upon interest of the initial loan
contract  minus  the  interest  that  would  be applied on the date of premature
repayment  on  a  new  loan  with  the  same  conditions  as  the  initial loan.

3.  Premature repayment service charge is exempted in the following cases in the
sections  hereinafter.
   1.  The  remaining  period  of  the  loan  is  less  than  a  month
   2.  Reclaiming  of  the  loan  by  the  bank before the expiry due to loss of
periodic  rights,  etc
   3.  Offsetting  the  deposit  before the expiry due to the needs of this bank
   4.  For  loans with a building as a guarantee, when the debtor changes due to
the  transfer  of  the  said  building's  pledge  rights
   5. For public servants' loan, when the debtor repays the debt with retirement
wage
   6.  For  fixed  interest  loan,  with  the  change  of interest in the bank's
standard  contract  of  loan transaction or with (new)standard interest variable
loan,  in  (new)standard interest or with single standard interest variable loan
in  the  change  of  single  interest announced by the bank, the debtor with the
above  reasons  repays  the  entire  loan  amount within a month of the interest
change.

ARTICLE  4  ARREARS  COMPENSATION
1.  In the event interests, installment payment or installment payment principal
and  interest  is  not  paid by the due date, arrears compensation shall be made
according  to  the  amount  that  was  to  be  paid.

2.  In  the  event  the  debt is not discharged at the expiry of the loan or the
interest  of  the  expiry  date  lost  according  to  standard  contract of loan
transaction  Article  7 (including standard contract of loan transaction Article
9,  redemption  debt  of  discount  bill),  arrears  compensation  shall be made
according  to  the  amount  of  loan  remaining.

3. For deposit trust loan, arrears compensation shall be made for interest to be
paid  before  offset  and  loan  balance  after  offset.

                                        4
<PAGE>
ARTICLE  5  TOTAL  AMOUNT OF LOAN AND NOTIFICATION OF INSTALLMENT REPAYMENT DATE
CHART
1.  In  the case of an installment repayment loan, the total amount of debt will
be  decided  after  the  execution.  The  method  of  execution will be based on
installment  repayment  date  chart,  receipts  and  other  evidences.

2.  In the case of installment repayment loan other than installment credit loan
and  benefit,  the bank shall make out and notify the debt-related persons of an
installment  repayment  date  chart.

ARTICLE  6  REDUCTION  AND  SUSPENSION
1.  In  the  case  of  a  limit transaction or an installment loan, the bank may
decide  to  reduce  the  loan  (line)  amount  in  Article  1  through notice or
temporarily  stop the loan execution regardless of the transaction period due to
sudden  changes  in  national  economy  and  financial  state  or  significant
deterioration  of personal credit state of the debtor.  In this event the debtor
shall  pay  any  amount  exceeding  the  line  due  to  the  reduction.

2. The sudden changes in national economy and financial state in Clause 1 refers
to  credit  rating  drop of 2 steps or more of the nation or the bank, predicted
difficulties in supplying capital to the bank through significant rise of supply
interest,  emergency  fund request of the nation to an international institution
through  dangers  such  as foreign currency crisis, request of the bank to Korea
Bank  of  fluidity  control loan due to lack of payout ability, and other sudden
changes  to  national  economical  and  financial  status.

3.  Significant  deterioration  of personal credit state of the debtor refers to
difficulties in normal loan transactions due to changes in management personnel,
outside inspectors opinion is either unsatisfactory, news reports on newspapers,
TVs  and  other mass media predicting significant deterioration of credit status
is  proven  to  be  true, in the event of an investigation that could negatively
effect  credit status or court actions that could negatively effect business and
loss  of  periodic  rights  as regulated in the bank's standard contract of loan
transaction  (enterprise)  Article  7.

4. The bank shall withdraw the reduction or the suspension caused by the reasons
stated  in  Clause  once  such matters are solved and normal loan transaction is
possible.

ARTICLE  7  LIMIT  CONTRACT  SERVICE  CHARGE
1.  For loan transaction contracts (includes new, extension and renewal) of loan
limits  with limit contract service charge, the entire amount in accordance with
the  rate  in  Article  1  will  be  paid.

2.  In  the  event  of  alteration  (reduction, expiry, termination, suspension)
through  the  debtor's  request or through chargeable reasons in bank's standard
contract  of  loan  transaction  (enterprise), loan transaction contract or this
contract,  limit  contract  service  charge  will  not  be  refunded.

3.  In  the  event  of  alteration  (reduction, expiry, termination, suspension)
through  no  chargeable  reasons in bank's standard contract of loan transaction
(enterprise),  service charge applicable to the changed amount of contract limit
will  be refunded on monthly percentage (percentage below month is ignored) from
the  time  of  change  of  contract  limit  to the remaining time of the initial
transaction  period.

4. In the event of augmentation of contract limit, limit contract service charge
is  paid  from  the  time of change of contract limit to the remaining period on
percentage  (percentage  below  month  is  ignored).

                                        5
<PAGE>
ARTICLE  8  AGREEMENT  ON  COMPREHENSIVE  SAVINGS  LOAN AND CURRENT ACCOUNT LOAN
1.  In  the  event  of  existence  of debt incurred by this contract, and assets
(deeds are exempted until settled, deposited bills are considered transferred to
the  bank  as  a  security  to the bank) deposited registered in savings loan or
current  account  loan  (hereinafter  referred  to as the "target account") will
automatically  used  to  repay loan amount in the order of arrears compensation,
unpaid  interests  and  loan  principal.

2.  In the event of withdrawal request exceeding the balance of the savings loan
account  or  current  account loan account, automatic payment request of regular
payment  and  other  various  bills,  the  amount  is  considered as having been
withdrawn  or  automatically  paid  from  the  target  account.

3. Interests and arrears compensation shall be subtracted from target account or
added to the loan amount regardless of the limit amount in Article 1, in case of
delay  of payment of interests due to shortage of limit amount the interest that
was  not  paid  (hereinafter  referred  to as "unpaid interest") will be paid in
which  case  compensation  shall  be  made.  For  unpaid  interest,  arrears
compensation  will  be  made  according  to  the  determined  rate.

4.  For  current  account  loan,  in  the  event of incurring claims to the bank
through  bills  or  checks issued by the debtor due to this contract, the amount
shall  be  considered as loan amount debt and repaid according to this contract.

5.  For  current  account  loan,  if  bills or checks issued before reduction or
suspension  in  Article  6  is  refused  payout,  there  will  be  no  disputes.

6.  For  current  account  loan,  if  required,  such  as  due  to  significant
disadvantage  to  the  debtor  through refusal of payout of checks or bills, the
bank may payout bills or checks issued before the expiry of the loan transaction
after  the  expiry  of  loan transaction.  The loan amount incurred through this
process  will  also  be  subject  to  this  contract.

7.  In the event of 14 days delay after unpaid interest occurs, loss of periodic
rights  occurs  and  from  this  point  on  arrears  compensation  shall be made
according  to  the  determined  rates  as  to  the  related  loan  amount.

ARTICLE  9  REVENUE  STAMP
1.  Revenue  stamp cost incurred by this contract shall be paid by ([ ]debtor, [
]bank,  [  ]debtor  and  bank  50%  each  ).

2.  In the event the bank pays the revenue stamp cost that was to be paid by the
debtor  according  to Clause 1, it shall be paid within a short period according
to  bank's  standard  contract  of  loan  transaction  Article  4.

ARTICLE  10  REPAYMENT  CURRENCY  AND  EXCHANGE  RATES
Principal  and  interest  of  foreign  currency  loan  may be repaid with loaned
currency  or  with
won  currency.  Exchange rate in the event of repayment through won currency the
telegraph
transfer  sales  rate  towards  customer  shall  be  applied.

ARTICLE  11  SECURITY  AND  INSURANCE
The debtor will pledge any buildings or installed facilities along with the land
or  building
it  is  built on and including any miscellaneous facilities within as a security
to  the  bank
unless  otherwise  stated by the bank. If the bank so requests, the debtor shall
enter  into
an  insurance  of  the type and the amount agreed by the bank and place a pledge
for  the  bank
on  the  insurance  claim.

ARTICLE  12  SECURITY  RIGHT
1.  A  pledge  has  been  placed  on the deposit shown below and transfer of its
evidence  (bank  book) to the bank complete for the security of the debt by this
contract.

                                        6
<PAGE>
2. The effect of the pledge in Clause 1 includes principal and interest, earning
rights (includes any amount deposited after the contract) and any collaterals to
the above including interests, earning rights to earnings, special subsidies and
court  subsidies.

3.  The  effects  of the above pledge will persists in the event of extension of
period,  rewriting,  renewal, division, incorporation, augmentation or reduction
of the deposit, and if the trust, the target, has been extended or automatically
extended  due  to  arrears  the  pledge will still have effect above its earning
rights.

4.  The bank may elect not to exercise the pledge stated in Clause 1 and instead
opt for proxy appropriation of restoration repayment or apply commercial customs
for  the  debt  of  the bank and the deposit shown below according to the bank's
standard  contract  of  loan  transaction.

*  Deposits  for  the  purpose  of  pledge
<TABLE>
<CAPTION>

<S>   <C>               <C>          <C>                   <C>                          <C>           <C>

        Deed record     Holder or
        number          truster      Amount                Total deposit
Type    --------------  -----------  (Contractual          Amount til                   Date on deed  Payment date
                                     Amount)               20  .  .
        Account number  Beneficiary
------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------

        --------------  -----------

------  --------------  -----------  --------------------  ---------------------------  ------------  ------------
</TABLE>

ARTICLE  13  DUTY  OF  MAINTENANCE  OF  REPAYMENT  MEANS
1.  I  shall maintain adequate financial ratio as shown below for the purpose of
maintaining  repayment  means  for  the  debts incurred by this contract. In the
event  of  other  clauses  such  as Financial Structure Improvement, it shall be
affixed  to  the  end of this transaction contract and considered a part of this
transaction  contract.

Classification       20  .     20  .     20  .     20  .     20  .
----------------     -----     -----     -----     -----     -----
Debt ratio               %         %         %         %         %
Self asset ratio         %         %         %         %         %
(      )ratio            %         %         %         %         %
(      )ratio            %         %         %         %         %

2. In the event of the following, the bank shall be consulted and agreed upon in
advance.
     1.  Merger,  business transfer/acquisition and other sale/rent of important
assets
     2.  Investment  on  fixed  assets  for  reasons other than specified in the
contract
     3.  Surety  for  other's  debts
     4.  Entering  new  business  or  foreign  investment
     5.  Company  structure  work  out,  privatization, or any other significant
management  changes

                                        4
                                        7
<PAGE>
ARTICLE  14  SUBMISSION  OF  DATA
1.  I  agree  to  submit the following documents stated below in each respective
period and any other documents required for the maintenance of the loan contract
on  the bank's request according to bank's standard contract of loan transaction
Article  17  and  Article  19.
     1.  Each  quarter  :  Surtax returns, trial balance of totals and balances,
statement  of  current  debts,  sales  estimates  to  customers  and  of  items
     2.  Each  half-year  :  Half-year  accounts  report,  surtax returns, trial
balance  of  totals and balances, statement of current debts, sales estimates to
customers  and  of  items
     3.  Each  year : Certified public accountant's inspection report (financial
statement  of  settlements),  related  statement  of  settlements,  corporation
registration  transcript,  business  registry,  shareholders  book,  article  of
corporation,  summary  sheet of earned income tax collected, estimated statement
of settlements (3 years), state of major business relations, copies each permits
and  technology  permit  related  documents  (KS,  ISO,  patent  rights,  etc),
labor-management  dispute  statement,  miscellaneous  product  descriptions,
concentric  trades  reference  data,  etc.
     4.  On  demand : Trial balance of totals and balances, statement of current
debts,  documentary  evidence  of  asset  spending,  etc.

2.  I  agree to submission of the following documents on request of the bank for
the  purpose  of  the  company's  foreign  currency  risk  state and maintenance
conditions  in  evaluating  credit  information.
     1.  Foreign currency risk maintenance structure and maintenance regulations
conditions
     2.  Foreign  currency  supply  and  application  statement
     3.  Foreign  currency  derivative  product  trade  statement

ARTICLE 15 MISCELLANEOUS SPECIAL CLAUSES

I  have  received the bank's standard contract of loan transaction and the copy
of  this  contract,  and  have  sufficiently  heard  and understood its contents

                                               Written notification of
                                               the contract details:

Name                                           [ ]Required
(pledgee)                                      [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Pledgee                                        [ ]Not required
---------------------------------------------  -----------------------

Confirmation    Place:              Position:             Name:

                                        8
<PAGE>
           CHANGE OF LOAN TRANSACTION CONDITIONS AND ADDITIONAL CLAUSES
           -----------------------------------------------------------
          (Extension of period, change of conditions, change of limit)

To  Shinhan  Bank

The  bank  shall  explain  the  key contents of this contract and distribute the
copies  of  this  contract and the bank's standard contract of loan transaction.

In  charge     Responsible     Check
----------     -----------     -----

I  would  like  to  change  the  conditions of the loan contract and confirm the
additional  clauses.

1.  Extension  of  period
<TABLE>
<CAPTION>

<S>        <C>        <C>          <C>       <C>        <C>       <C>
                                             Expiry               Miscellaneous
           Loan                              after      Applied   (account
Loan time  subject    Loan Limit   Expiry    extension  Interest  number)
---------  ---------  -----------  --------  ---------  --------  --------------
           Purchase   Two billion
           fund loan  won          2004.2.5   2005.2.4
---------  ---------  -----------  --------  ---------  --------  --------------

</TABLE>

2.  Change  of  conditions  (Change and termination of loanee, pledge, security)
<TABLE>
<CAPTION>

<S>                  <C>      <C>         <C>           <C>               <C>
                                                                          Miscellaneous
                     Loan                                                 (account number,
Loan time            subject  Loan Limit  Expiry        Applied interest  contents of security)
-------------------  -------  ----------  ------------  ----------------  ---------------------
                                          2004.2.5
-------------------  -------  ----------  ------------  ----------------  ---------------------

Before change:                            After change:
----------------------------------------  -----------------------------------------------------

-----------------------------------------------------------------------------------------------
Reason for change :
-----------------------------------------------------------------------------------------------
</TABLE>

3.  Change  of  limit
<TABLE>
<CAPTION>

<S>        <C>           <C>            <C>           <C>
                         Amount before  Amount after  Miscellaneous
Loan time  Loan subject  change         change        (account number)
---------  ------------  -------------  ------------  ----------------

---------  ------------  -------------  ------------  ----------------
</TABLE>

                                        9
<PAGE>
1. I have received the bank's standard contract of loan transaction and the copy
of  this  contract,  and  have  sufficiently  heard  and understood its contents
2. The joint sureties have sufficiently heard and understood the contents of the
debtors debt state, arrears state and credit condition

                                               Written notification of
                                               the contract details:

Name                                           [ ]Required
(pledgee)                                      [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------

*  Debtor (pledgee):                         Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Pledgee:                                  Phone:
   Address:                                  Company/Cell:

Confirmation    Place:              Position:             Name:

(Notes)
1. For  extension  of corporate  loan, no  signature is  required for limited or
comprehensive  mortgage  pledgee
2. Include the interest changes in case of interest change for extension of loan
3. In  the  event  the surety changes, record old joint surety in before  change
column  and  new  joint  surety in after change column, for those with immunity,
record  immunity  in  after  change  column
4. In  changing  surety  (immunity),  record  the  surety type and  limit in the
miscellaneous  column  of  the  corresponding  loan
5. In  adding  surety,  record  "Addition  of surety" in the reasons  for change
column.

                                       10
<PAGE>

           CHANGE OF LOAN TRANSACTION CONDITIONS AND ADDITIONAL CLAUSES
           -----------------------------------------------------------
          (Extension of period, change of conditions, change of limit)

To  Shinhan  Bank

The  bank  shall  explain  the  key contents of this contract and distribute the
copies  of  this  contract and the bank's standard contract of loan transaction.

In  charge     Responsible     Check
----------     -----------     -----

I  would  like  to  change  the  conditions of the loan contract and confirm the
additional  clauses.

1.  Extension  of  period
<TABLE>
<CAPTION>

<S>        <C>        <C>            <C>       <C>        <C>       <C>
                                               Expiry               Miscellaneous
           Loan                                after      Applied   (account
Loan time  subject    Loan Limit     Expiry    extension  Interest  number)
---------  ---------  -------------  --------  ---------  --------  --------------
           Purchase   1,080,000,000
           fund loan  won
---------  ---------  -------------  --------  ---------  --------  --------------

</TABLE>

2.  Change  of  conditions  (Change and termination of loanee, pledge, security)
<TABLE>
<CAPTION>

<S>                  <C>      <C>         <C>           <C>               <C>
                                                                          Miscellaneous
                     Loan                                                 (account number,
Loan time            subject  Loan Limit  Expiry        Applied interest  contents of security)
-------------------  -------  ----------  ------------  ----------------  ---------------------
                                          2004.2.5
-------------------  -------  ----------  ------------  ----------------  ---------------------

Before change:                            After change:
----------------------------------------  -----------------------------------------------------

-----------------------------------------------------------------------------------------------
Reason for change :
-----------------------------------------------------------------------------------------------
</TABLE>

3.  Change  of  limit
<TABLE>
<CAPTION>

<S>        <C>           <C>            <C>            <C>
                         Amount before  Amount after   Miscellaneous
Loan time  Loan subject  change         change         (account number)
---------  ------------  -------------  -------------  ----------------
           Purchase      1,350,000,000  1,080,000,000
2003.2.21  fund loan     won            won            660-51-014820
---------  ------------  -------------  -------------  ----------------
</TABLE>

                                       11
<PAGE>
1. I have received the bank's standard contract of loan transaction and the copy
of  this  contract,  and  have  sufficiently  heard  and understood its contents
2. The joint sureties have sufficiently heard and understood the contents of the
debtors debt state, arrears state and credit condition

                                               Written notification of
                                               the contract details:

Name                                           [ ]Required
(pledgee)                                      [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------

                                                                      2005. 8. 4

*  Debtor (pledgee):                         Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Pledgee:                                  Phone:
   Address:                                  Company/Cell:

Confirmation    Place:              Position:             Name:

(Notes)
1. For  extension  of corporate  loan, no  signature is  required for limited or
comprehensive  mortgage  pledgee
2. Include the interest changes in case of interest change for extension of loan
3. In  the  event  the surety changes, record old joint surety in before  change
column  and  new  joint  surety in after change column, for those with immunity,
record  immunity  in  after  change  column
4. In  changing  surety  (immunity),  record  the  surety type and  limit in the
miscellaneous  column  of  the  corresponding  loan
5. In  adding  surety,  record  "Addition  of surety" in the reasons  for change
column.

                                       12
<PAGE>
           CHANGE OF LOANTRANSACTION CONDITIONS AND ADDITIONAL CLAUSES
           -----------------------------------------------------------
          (Extension of period, change of conditions, change of limit)

To  Shinhan  Bank

The  bank  shall  explain  the  key contents of this contract and distribute the
copies  of  this  contract and the bank's standard contract of loan transaction.

In  charge     Responsible     Check
----------     -----------     -----

I  would  like  to  change  the  conditions of the loan contract and confirm the
additional  clauses.

1.  Extension  of  period
<TABLE>
<CAPTION>

<S>        <C>        <C>          <C>       <C>        <C>       <C>
                                             Expiry               Miscellaneous
           Loan                              after      Applied   (account
Loan time  subject    Loan Limit   Expiry    extension  Interest  number)
---------  ---------  -----------  --------  ---------  --------  --------------
           Purchase   870,000,000
           fund loan  won
---------  ---------  -----------  --------  ---------  --------  --------------

</TABLE>

2.  Change  of  conditions  (Change and termination of loanee, pledge, security)
<TABLE>
<CAPTION>

<S>                  <C>      <C>         <C>           <C>               <C>
                                                                          Miscellaneous
                     Loan                                                 (account number,
Loan time            subject  Loan Limit  Expiry        Applied interest  contents of security)
-------------------  -------  ----------  ------------  ----------------  ---------------------
                                          2004.2.5
-------------------  -------  ----------  ------------  ----------------  ---------------------

Before change:                            After change:
----------------------------------------  -----------------------------------------------------

-----------------------------------------------------------------------------------------------
Reason for change :
-----------------------------------------------------------------------------------------------
</TABLE>

3.  Change  of  limit
<TABLE>
<CAPTION>

<S>        <C>           <C>            <C>           <C>
                         Amount before  Amount after  Miscellaneous
Loan time  Loan subject  change         change        (account number)
---------  ------------  -------------  ------------  ----------------

---------  ------------  -------------  ------------  ----------------
</TABLE>

                                       13
<PAGE>
1. I have received the bank's standard contract of loan transaction and the copy
of  this  contract,  and  have  sufficiently  heard  and understood its contents
2. The joint sureties have sufficiently heard and understood the contents of the
debtors debt state, arrears state and credit condition

                                               Written notification of
                                               the contract details:

Name                                           [ ]Required
(pledgee)                                      [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------
                                               [ ]Required
Joint Surety                                   [ ]Not required
---------------------------------------------  -----------------------

                                                                      2006. 2. 4

*  Debtor (pledgee):                         Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Joint surety:                             Phone:
   Address:                                  Company/Cell:

*  Pledgee:                                  Phone:
   Address:                                  Company/Cell:

Confirmation    Place:              Position:             Name:

(Notes)
1. For  extension  of corporate  loan, no  signature is  required for limited or
comprehensive  mortgage  pledgee
2. Include the interest changes in case of interest change for extension of loan
3. In  the  event  the surety changes, record old joint surety in before  change
column  and  new  joint  surety in after change column, for those with immunity,
record  immunity  in  after  change  column
4. In  changing  surety  (immunity),  record  the  surety type and  limit in the
miscellaneous  column  of  the  corresponding  loan
5. In  adding  surety,  record  "Addition  of surety" in the reasons  for change
column.

                                       14
<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]