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<SEC-DOCUMENT>0001145549-05-000917.txt : 20050611
<SEC-HEADER>0001145549-05-000917.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050524203747
ACCESSION NUMBER:		0001145549-05-000917
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050524
FILED AS OF DATE:		20050525
DATE AS OF CHANGE:		20050524

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOREA ELECTRIC POWER CORP
		CENTRAL INDEX KEY:			0000887225
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				133442428
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13372
		FILM NUMBER:		05855435

	BUSINESS ADDRESS:	
		STREET 1:		167, SAMSONG-DONG
		STREET 2:		KANGNAM-KU
		CITY:			SEOUL 135-7911 KOREA
		STATE:			NY
		ZIP:			10286
		BUSINESS PHONE:		2018948855

	MAIL ADDRESS:	
		STREET 1:		167 SAMSEENG DONG GANGNAMGU
		CITY:			SEOUL
		STATE:			MO
		ZIP:			999999999
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u99805e6vk.htm
<DESCRIPTION>KOREA ELECTRIC POWER CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>KOREA ELECTRIC POWER CORPORATION</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">




<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 6-K</B>


<P align="center" style="font-size: 12pt"><B>REPORT OF FOREIGN PRIVATE ISSUER<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16 of<BR>
the Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt">For the Month of May&nbsp;2005


<P align="center" style="font-size: 24pt"><B>KOREA ELECTRIC POWER CORPORATION</B>
<DIV align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Translation of registrant&#146;s name into English)
</DIV>

<P align="center" style="font-size: 10pt">167, Samseong-dong, Gangnam-gu, Seoul 135-791, Korea<BR>
(Address of principal executive offices)



<P align="center" style="font-size: 10pt">Indicate by check mark whether the registrant files or will<BR>
file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.



<P align="center" style="font-size: 10pt">Form&nbsp;20-F&nbsp;<FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form&nbsp;40-F&nbsp;<FONT face="Wingdings">&#111;</FONT>



<P align="center" style="font-size: 10pt">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in<BR>
paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1): _______



<P align="center" style="font-size: 10pt">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in<BR>
paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7): _______



<P align="center" style="font-size: 10pt">Indicate by check mark whether the registrant by furnishing the<BR>
information contained in this form is also thereby furnishing the<BR>
information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the<BR>
Securities Exchange Act of 1934.



<P align="center" style="font-size: 10pt">Yes&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT face="Wingdings">&#254;</FONT>



<P align="center" style="font-size: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the<BR>
registrant in connection with Rule&nbsp;12g3-2(b): 82-_______.


<P align="left" style="font-size: 10pt">This Report of Foreign Private Issuer on Form 6-K is deemed filed for all purposes under
the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended,
including by reference in the Registration Statement on Form F-3 (Registration No.&nbsp;33-99550) and
the Registration Statement on Form F-3 (Registration No.&nbsp;333-9180).



<P>
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<HR size="4" noshade color="#000000" style="margin-top: -10px">










<P align="center" style="font-size: 10pt">
</DIV>

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<P><HR noshade><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">SIGNATURES</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<P align="left" style="font-size: 10pt">May&nbsp;24, 2005


<P align="left" style="font-size: 10pt">&nbsp;


<P align="left" style="font-size: 10pt">&nbsp;


<P align="left" style="font-size: 10pt">The Board of Directors of Korea Electric Power Corporation (&#147;KEPCO&#148;) passed resolutions on the
following items on May&nbsp;23, 2005 to call the Extraordinary Meeting of Shareholders pursuant to
Article&nbsp;18 of the Articles of Incorporation as follows:


<P align="left" style="font-size: 10pt"><B>Date and time: </B>June&nbsp;10, 2005 (Friday) at 14:00 (Seoul Time)


<P align="left" style="font-size: 10pt"><B>Place: </B>Korea Electric Power Corporation, Main Building,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167, Samseong-dong, Gangnam-gu, Seoul, Korea



<P align="left" style="font-size: 10pt"><B>Agenda</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.</TD>
<TD width="1%">&nbsp;</TD>
<TD>Amendments to the Articles of Incorporation as attached hereto</TD>
</TR>

</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.</TD>
<TD width="1%">&nbsp;</TD>
<TD>Selection of a Standing Director</TD>
</TR>

</TABLE>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Relationship with</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">Transactions</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">the major</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2">with KEPCO for</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Nominee</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000">Current position</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000">Recommended by</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000">Shareholder of KEPCO</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000">the last 3 years</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Kwon,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">General Manager,</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">President</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Oh-Hyung</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Transmission</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">of KEPCO</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;N/A</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Division of KEPCO</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.</TD>
<TD width="1%">&nbsp;</TD>
<TD>Selection of the Standing Auditor to be a member of the Board of Auditors: Nominee
will be notified in due course.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt"><I>&#091;Attachment&#093;</I><BR>
<U><B>Proposed Amendments to the Articles of Incorporation of Korea Electric Power Corporation </B></U>



<P align="left" style="font-size: 10pt">* <I>Amendments in underline</I>.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Present</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Amendments</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Remarks</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Article&nbsp;5 (Method of Public Notice)</B><BR>
Public notice by the Corporation shall
be provided in <U>The Korea Daily News</U> and
Maeil Kyungje (The Economics Daily),
each a daily newspaper which is
published in Seoul.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Article&nbsp;5 (Method of Public Notice)</B><BR>
Public notice by the Corporation shall be
provided in <U>The Seoul Shinmun</U> and Maeil Kyungje
(The Economics Daily), each a daily newspaper
which is published in Seoul.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Change of the title
of the newspaper.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Article&nbsp;26 (Number of Officers)</B><BR>
&#091;1&#093; Abbreviated.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Article&nbsp;26 (Number of Officers)</B><BR>
&#091;1&#093; Same as present.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;2&#093; <U>The Corporation shall have one (1)
auditor.</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;2&#093; <U>The Corporation shall have a board of
auditors consisting of three (3)&nbsp;auditors. One
(1)&nbsp;of these auditors shall be a standing
auditor, and the other two (2)&nbsp;auditors shall be
non-standing auditors.</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In accordance
with the
requirements of the
Sarbanes-Oxley Act
of 2002.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Article </B>26-2 (Appointment of Officers)<BR>
&#091;1&#093; &#150; &#091;2&#093; Abbreviated.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Article&nbsp;26-2 (Appointment of Officers)</B><BR>
&#091;1&#093; &#150; &#091;2&#093; Same as present.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">1
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Present</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Amendments</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Remarks</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;3&#093; The non-standing director shall be
appointed or dismissed from among the
experts from the private sector who
have great expert knowledge and
experience on administration by the
<U>Chairman of the Planning &#038; Budget
Committee</U> as motioned by the President.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;3&#093; The non-standing director shall be appointed
or dismissed from among the experts from the
private sector who have great expert knowledge
and experience on administration by the Minister
of the <U>Ministry of Planning &#038; Budget</U> as motioned
by the President.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In accordance with
the Amendments in
the Government
Organization Act.</TD>
</TR>


<TR>
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;4&#093; <U>The auditor shall be appointed or
dismissed by the President of the
Republic of Korea as motioned by the
Chairman of the Planning &#038; Budget
Committee through a resolution of the
General Meeting of Shareholders</U>.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;4&#093; <U>The standing auditor shall be appointed or
dismissed by the President of the Republic of
Korea as motioned by the Minister of the Ministry
of Planning &#038; Budget through a resolution of the
General Meeting of Shareholders. The
non-standing auditors shall be appointed or
dismissed by the President of the Republic of
Korea as motioned by the Minister of the Ministry
of Planning &#038; Budget without a resolution of the
General Meeting of Shareholders</U>.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A resolution
of the General
Meeting of
Shareholders is not
needed for
appointing or
dismissing
non-standing
auditors.</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>New Article</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;5&#093; <U>The non-standing auditors shall be appointed
from those persons who do not fall under any item
of Clause 3 of the Article&nbsp;191-12 (Qualifications
for Auditor) of the Securities and Exchange Act.
At least one of the non-standing auditors shall
be a financial and accounting expert</U>.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In accordance with
the Sarbanes-Oxley Act
of 2002.</TD>
</TR>


<TR>
    <TD>&nbsp;</TD>
</TR>


<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Present</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Amendments</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Remarks</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>New Article</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Article&nbsp;28-4 (Authority of the Board of Auditors)</B><BR>
&#091;1&#093; Pursuant to Article&nbsp;28-5, the board of
auditors shall have the following powers:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In accordance with
the Sarbanes-Oxley Act
of 2002.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">1. Appointment, retention and dismissal of the
independent auditor;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">2. Approving the independent auditor&#146;s non-audit
services provided to the Company;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">3. Supervising the independent auditor&#146;s
accounting and auditing of the Company;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">4. Approving and determining the amount of
independent auditor&#146;s remuneration.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;2&#093; Pursuant to Article&nbsp;28-5, the board of
auditors shall perform the following duties:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">1. Establishing procedures for receiving and
handling complaints regarding the accounting,
auditing and internal control process.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">2. Supervising the audit reporting by the
independent auditor.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px; text-indent:-15px">3. Other matters necessary to comply with the
Sarbanes-Oxley Act of 2002 and other relevant
laws.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;3&#093; Auditors may seek outside counsel or
consulting as necessary to perform its duties and
the Company shall provide the necessary funding
for such counseling.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Present</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Amendments</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Remarks</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>New Article</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Article&nbsp;28-5 (Resolution Process of the Board of
Auditors)</B><BR>
<U>A board comprised of all auditors shall determine
the auditors&#146; resolution process regarding
matters enumerated in Article&nbsp;28-4, with the
Internal Regulations of the Board of Auditors
governing administrative matters relating to the
board of auditors&#146; resolution process</U>.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In accordance with
the Sarbanes-Oxley Act
of 2002.</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>


<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>New Article</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>ADDENDUM</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;1&#093; <U>These Articles of Incorporation shall become
effective on and after the date of promulgation</U>.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;2&#093; <U>The single statutory auditor in office at the
time of this amendment shall be deemed the
standing auditor as defined in Article&nbsp;26 through
Article&nbsp;26-2</U>.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>


<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt">SIGNATURES



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<P>&nbsp;

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Lee, Hi-Taek
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Lee, Hi-Taek&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<P align="left" style="font-size: 10pt"><I>Attached, Proposed Amendments to the Articles of Incorporation</I>




<P align="center" style="font-size: 10pt">
</DIV>

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