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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001145549-05-001339.txt : 20050725
<SEC-HEADER>0001145549-05-001339.hdr.sgml : 20050725
<ACCEPTANCE-DATETIME>20050725142107
ACCESSION NUMBER:		0001145549-05-001339
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050725
FILED AS OF DATE:		20050725
DATE AS OF CHANGE:		20050725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KT CORP
		CENTRAL INDEX KEY:			0000892450
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14926
		FILM NUMBER:		05971002

	BUSINESS ADDRESS:	
		STREET 1:		206 JUNG TA DONG BUNN DONG GU
		CITY:			SUNGNAM CITY KOREA
		STATE:			M5
		ZIP:			463711
		BUSINESS PHONE:		82317270932

	MAIL ADDRESS:	
		STREET 1:		206 JUNG JA DONG BUNN DONG GU
		CITY:			SUNGNAM CITY KOREA
		STATE:			M5
		ZIP:			463711

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KOREA TELECOM CORP
		DATE OF NAME CHANGE:	19971006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KOREA TELECOM
		DATE OF NAME CHANGE:	19950130
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>u99946e6vk.htm
<DESCRIPTION>KT CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>KT CORPORATION</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO<BR>
RULE 13a-16 OR 15d-16 UNDER THE SECURITIES<BR>
EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of July&nbsp;2005</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>KT Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>206 Jungja-dong<BR>
Bundang-gu, Sungnam<BR>
Kyunggi-do<BR>
463-711<BR>
Korea</B><BR>
(Address of principal executive offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(indicate by check mark whether the registrant files or will file annual reports under cover of<BR>
Form&nbsp;20-F or Form&nbsp;40-F.)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Form&nbsp;20-F <FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form&nbsp;40-F <FONT face="Wingdings">&#111;</FONT></DIV>

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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Yes <FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <FONT face="Wingdings">&#254;</FONT></DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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

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




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>This Current Report on Form&nbsp;6-K is being filed to incorporate by reference into Registration
Statement No.&nbsp;333-100251 on Form&nbsp;F-3, effective December&nbsp;27, 2002, relating to $1,210,050,000 0.25%
Convertible Notes Due 2007, $500,000,000 4.30% Bonds Due 2005 and Warrants to Purchase 9,270,200
Common Shares.</B>
</DIV>



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


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



<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>Notice of the Extraordinary</B></DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>General Meeting of Shareholders</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="u99946u9994601.gif" alt="(KT LOGO)">
</DIV>



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

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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




<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="85%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><B>Notice of the Extraordinary General Meeting of Shareholders</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:90px; text-indent:-15px">Matters to be reported</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Report on Standards and Method of Payment of Remuneration for
Standing Directors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:135px; text-indent:-15px">Auditor&#146;s Report</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:75px; text-indent:-15px">Matters requiring resolution</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:30px; text-indent:-15px"><FONT face="wingdings">&#110;</FONT>
Agenda No. 1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:105px; text-indent:-15px">Election of President</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:30px; text-indent:-15px"><FONT face="wingdings">&#110;</FONT>
Agenda No. 2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:120px; text-indent:-15px">Amendment of Articles of Incorporation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:30px; text-indent:-15px"><FONT face="wingdings">&#110;</FONT>
Agenda No. 3</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:105px; text-indent:-15px">Election of Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:30px; text-indent:-15px"><FONT face="wingdings">&#110;</FONT>
Agenda No. 4</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:90px; text-indent:-15px">Approval of Management Contract</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:120px; text-indent:-15px">Additional Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>To be reported on at the meeting</TD>
</TR>

</TABLE>



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

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Notice
of the Extraordinary General Meeting of Shareholders</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">July&nbsp;21, 2005
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">To our Shareholders,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to Article&nbsp;18 of the Articles of Incorporation of KT Corporation, KT will hold the
Extraordinary General Meeting of Shareholders as described below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the meeting, two items including standards and method of payment on remuneration of Standing
Directors will be reported and four items including the election of
President will be resolved.</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholders holding KT&#146;s common shares as of June&nbsp;30, 2005 will be entitled to vote at the
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I&#146;m looking forward to our shareholders&#146; participation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Yong Kyung Lee<BR>
President and Chief Executive Officer
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="wingdings">&#110;</FONT>&nbsp;
Date and Time: August&nbsp;19, 2005 (Friday) 10:00&nbsp;A.M.(Korea
Time)</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="wingdings">&#110;</FONT>&nbsp;Place: Lecture Hall (B1), Headquarter Building of KT Corporation located at 206, Jungja-dong,
Bundang-gu, Sungnam-city, Kyunggi-do,<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea.</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="wingdings">&#110;</FONT>&nbsp;
Record Date: June&nbsp;30, 2005.</DIV>
</DIV>


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

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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





<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>Matters Requiring Resolution</B></DIV>


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

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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





<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Agenda No.&nbsp;1</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Election of President</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Pursuant to Article&nbsp;25 of Articles of Incorporation of KT (Election of President and Directors),
approval of Election of President is requested.</I></DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">According to KT&#146;s Articles of Incorporation, the President shall be elected by a resolution of the
General Meeting of Shareholders based on nomination by the President Candidate Nomination
Committee.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">The President Candidate Nomination Committee nominated Mr.&nbsp;Joong Soo Nam as the President Candidate
on June&nbsp;18, 2005.</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Nam, former CEO of KT Freetel which is wireless subsidiary of KT, has worked in KT for more
than 20&nbsp;years and had been KT&#146;s Chief Financial Officer for two years since January&nbsp;2001 before
working for KTF as the CEO.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Nam&#146;s biography is as follows.
</DIV></DIV>



<P align="center" style="font-size: 10pt">4
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Joong Soo Nam</B>
</DIV>


<DIV style="margin-top: 12pt">
<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="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Date of birth : </B>June&nbsp;28, 1955</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Person nominating said candidate : </B>President Candidate Nomination Committee</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Relation to the largest shareholder : </B>None</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Details of transactions between said candidate and the corporation concerned for the past
three years : </B>None</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Term of office : </B>August&nbsp;21, 2005 to 2008 Annual General Meeting of Shareholders</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Education</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">o 1979 :
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Seoul National University, Korea<br>
Bachelor of Business Administration</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1986 :
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Duke University, U.S.A.<br>
Master of Business Administration</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1990 :
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">University of Massachusetts, U.S.A.<br>
Ph.D., Business Administration</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Professional associations</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">o Jan.&#145;03 to Jul.&#146;05
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President &#038; CEO, KT Freetel Co.,Ltd.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Jan.&#145;01 to Jan.&#146;03
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President &#038; CFO, Finance &#038; Accounting Office, KT</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Dec.&#145;99 to Dec.&#146;00
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President of IMT2000 Business Dept.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Jul.&#145;98 to Dec.&#146;99
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President of Chung Buk Regional Telecom Office</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Jan.&#145;98 to Jul.&#146;98
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President of Policy, Regulation&nbsp;Business &#038; Co-operation Office</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o May&#145;97 to Jan.&#146;98
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President of Management Assistant Office</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</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="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">o Feb.&#145;97 to May&#146;97
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director of General Affairs Office</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1995 to 1996
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director of Washington Liaison Office</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1993 to 1995
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director of Management Planning Dept.
Corporate Strategy Planning Group</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1992 to 1993
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director of Tariff Service Planning Dept.
Corporate Strategy Planning Group</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1991 to 1992
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director of Chun-cheon Telephone Office</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1990 to 1991
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director of Overseas Correspondent Relation Dept.
International Telecommunications Business Group</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1983 to 1990
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director of Planning Coordination Dept.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1982 to 1983
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director of Planning Coordination Dept., Korea Telecom</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o 1981 to 1982
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary of the Minister, Ministry of Communications</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Other Activities</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">o Feb.&#145;98 to Feb.&#146;02
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Non Standing Director, SK Telecom</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;00 to Jan.&#146;03
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Non Standing Director, KT Freetel</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;01 to Mar.&#146;03
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Non Standing Director, KT ICOM</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;01 to Mar.&#146;03
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, Korea Optical Internet Forum</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Apr.&#145;03 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cooperative Director, Korean Institute of
Communication and Sciences</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Oct.&#145;03 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, Korea Digital Contents Forum</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Jan.&#145;05 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Member, National Academy of Engineering of Korea</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;05 to Jul.&#146;05
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, Korea Telematics Business Association</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Jan.&#145;99 to Jan.&#146;00
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Adjunct Professor, KAIST Graduate School of Management</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">6
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</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="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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">o Mar.&#145;04 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Visiting Professor, Seoul National University</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;04 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Visiting Professor, Ewha Womans University</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Mar.&#145;04 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Visiting Professor, Seoul School of Integrated
Sciences &#038; Technologies</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">o Sep.&#145;04 to present
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Adjunct Professor, Yonsei University Graduate School
of Information &#038; Communication</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">7
</DIV>

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



<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Agenda No.&nbsp;2</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Amendment of Articles of Incorporation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Pursuant to Article&nbsp;433 of the Commercial Code (Method of Amendment of Articles of Incorporation),
approval of the following amendment of Articles of Incorporation is requested.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The proposal of the amendment and the reasons for the amendment is as follows.
</DIV>


<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Addition of &#147;electrical construction business&#148; in the objectives of the Company in the Articles
of Incorporation. (Article&nbsp;2)</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Historically, KT has derived a substantial majority of revenues from fixed-line telephone
services. However, as its traditional businesses have matured and new technologies have become
available, KT has successfully leveraged its nationwide network, strong brand name, and established
customer base to pursue new growth opportunities. System Integration (SI)&nbsp;services are among those
new services, and KT offers to its clients a wide range of SI services, including designing,
building and maintaining communications networks. In 2004, KT&#146;s revenue from SI business was 191
billion KRW, accounting for 1.6% of the total revenue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Electrical construction business&#148; registration is crucial for certain SI
</DIV>



<P align="center" style="font-size: 10pt">8
</DIV>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">projects where contracts for both electrical and telecommunications construction are awarded, because in some projects &#147;all&#148;
members of the consortium are required to have both &#151; electrical and telecommunications
construction &#151; registrations. Accordingly, KT&#146;s lack of electrical construction business
registration has hurt KT in areas such as Intelligence Transport System (ITS)&nbsp;and Home Networking,
areas considered rapidly expanding and highly profitable. (Major domestic SI service providers such
as Samsung SDS, LG EDS, Hyundai Information and Technology all have electrical construction
business registration.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In short, &#147;electrical construction business&#148; registration is crucial to KT. And in order to be
registered, KT has to have &#147;electrical construction business&#148; as objectives of business, separate
from the current telecommunications construction business, in its Articles of
Incorporation.
</DIV>


<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left"><FONT face="wingdings">&#127;</FONT>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Article&nbsp;3 of the Electrical Construction Business Act stipulates that no electrical construction
contract may be awarded to or conducted by a person other than a registered electrical constructor.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amendment to the Management Contract (Articles 33 and 34)</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT proposes that in Article&nbsp;34, &#147;management goals for the President&#146;s term of office to be approved
at the General Meeting of Shareholders&#148; be changed to &#147;mid to long-term management plan to be
approved by the Board of Directors.&#148;
</DIV>



<P align="center" style="font-size: 10pt">9
</DIV>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The &#147;management goals for the President&#146;s term&#148; used to be part of the Special Privatization Act
which governed KT before its complete privatization in August of 2002, and has continued to be part
of KT&#146;s Articles of Incorporation since.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">However, &#147;management goals for the President&#146;s term&#148; played a small role in evaluating performance
of the President because attainment of the goals is not directly linked to the President&#146;s
remunerations or incentive payment. That is, while the goals are to be achieved at the end of the
President&#146;s three-year term, performance evaluation and incentive payment for the President are
conducted annually based on factors such as stock price performance, EVA improvement, and
productivity improvement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also, management goals for three years later can not accurately reflect the changes in market
environment and government regulation, which have great impact on the attainment of management
goals. Actually, management goals for the current President&#146;s term were revised to reflect those
changes at the Annual General Meeting of Shareholders in 2004.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thus, the effectiveness of the management goals for the President&#146;s term is highly questionable,
and having to maintain the goals even if the goals are not feasible any longer has caused concern
over the credibility of KT management as well as stock price fluctuation. (No other major Korean
companies, including those such as POSCO, KT&#038;G, and KB which were privatized at around the same
time as KT, have such provisions.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further, management goals for the President&#146;s term only include revenue and operating profit to
total asset targets, but a mid to long-term management plan provides more detail and diverse
indices such as growth (e.g., revenue growth), productivity (e.g., operating profit margin, EBITDA
</DIV>




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

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">margin and economic value added) and stability (e.g., debt to equity ratio and free cash flow).
Moreover, as the mid to long-term management plan has annual targets for five years, it is much
better suited to provide a link between the President&#146;s performance and incentive payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lastly, it is highly desirable to link the mid to long-term management plan to the evaluation of
the President&#146;s performance because the evaluation is conducted by Outside Directors, who
constitute two-thirds of KT Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In short, KT proposes to adopt &#147;the mid to long-term management plan approved by Board of
Directors,&#148; in order to deal with the above-stated problems and respond more flexibly to changing
market conditions.
</DIV>



<P align="center" style="font-size: 10pt">11
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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



<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left"><FONT face="Wingdings">&#113;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Comparison between before and after amendments to the AOI:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD 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">Article&nbsp;2. (Objectives)The objectives of
KT are to engage in the following business activities:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;2 (Objectives)The objectives of KT are to engage in the
following business activities:</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1 through 7 &#091;Omitted&#093;<BR><BR>
8. Telecommunications construction business<BR><BR><BR>
9 through 12 &#091;Omitted&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1 through 7 &#091;Same as the current provision.&#093; <BR><BR>
8. Telecommunications construction business <U><B>and electrical
construction business</B></U><BR><BR>
9 through 12 &#091;Same as the current provision.&#093;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;33. (Election of the President)
(1)&nbsp;through (4) &#091;Omitted&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;33 (Election of the President)
(1)&nbsp;through (4) &#091;Same as the current provision.&#093;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(5)</B></U> The President Recommendation
Committee
shall recommend a candidate for the President
to the General Meeting of Shareholders, based
on the evaluation under Paragraph&nbsp;3,
concurrently submitting a draft management
contract <U><B>including the management goals for the
term of office of the President.</B></U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U> <B>(5)</B></U> The President Recommendation Committee shall
recommend a candidate for the President to the General Meeting
of Shareholders based on the evaluation under Paragraph&nbsp;3,
concurrently submitting a draft management contract
<U><B>&#060;deleted&#062;</B></U>.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(6) &#091;Omitted&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(6) &#091;Same as the current provision.&#093;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;34. (Execution of Employment
Contract with the President)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;34 (Execution of Employment Contract with the President)</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(1) through (3) &#091;Omitted .&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(1) through (3) &#091;Same as the current provision.&#093;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(4)</B></U> The management goals shall include
revenue
increase, profitability improvement, investment
plan and other related business objectives and
shall be determined, on a yearly basis, at the
Board of Directors&#146;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(4)</B></U> The management goals shall include revenue increase,
profitability improvement, investment plan and other related
business objectives and shall be determined, on a yearly basis,
at the Board of Directors&#146;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">12
</DIV>

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<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="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD 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">Meeting <U><B>in order to achieve
the goals for the term of office approved by
the General Meeting of Shareholders</B></U>. Such
management goals may be established on a
numerical basis, if possible.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Meeting <U><B>in order to achieve the mid
to long-term plans approved by the Board of Directors</B></U><B>. </B>Such
management goals may be established on a numerical basis, if
possible.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(5) through (7) &#091;Omitted&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(5) through (7) &#091;Same as the current provision.&#093;</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>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>(Newly inserted)</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><U><B>Addendum (August&nbsp;19, 2005)</B></U></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>
</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"><U><B>These Articles of Incorporation shall take effect upon
approval by the General Meeting of Shareholders.</B></U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">13
</DIV>

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

<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Agenda No.&nbsp;3</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Election of Director</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Pursuant to Article&nbsp;382 of the Commercial Code (Election and Relationship with Company) and
Articles 25( Election of the Representative Director and Directors) of the Articles of
Incorporation of KT, approval of election of director is requested.</I>
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">At this Extraordinary General Meeting of Shareholders, one outside director shall be elected.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">According to KT&#146;s Articles of Incorporation, outside directors shall be elected at the General
Meeting of Shareholders from among those whom the Outside Director Candidate Nomination Committee
nominated.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Outside Director Candidate Nomination Committee nominated Mr.&nbsp;Kook Hyun Moon as outside
director candidate on July&nbsp;8, 2005.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr. Moon was elected as KT&#146;s outside director on August&nbsp;2002, and it will be his second term if
reelected at this EGM.
</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr. Moon&#146;s biography is as follows.
</DIV></DIV>


<P align="center" style="font-size: 10pt">14
</DIV>

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




<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><DIV align="left" style="font-size: 12pt; margin-top: 6pt"><B>Kook Hyun Moon</B>
</DIV></DIV>


<DIV style="margin-top: 12pt">
<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="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Date of birth : </B>January&nbsp;12, 1949</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Person nominating said candidate : </B>Outside Director Candidate Nomination Committee</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Relation to the largest shareholder : </B>None</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Details of transactions between said candidate and the corporation concerned for the past
three years : </B>stock option 5,200 shares</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Term of office : </B>August&nbsp;2005 to 2008 Annual General Meeting of Shareholders</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Education</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD>2004: Honorary Doctor, Philosophy in Business
Administration,<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kangwon National University</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>

    <TD>1977: MBA, Seoul National University</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>

    <TD>1972: BA, Department of English,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD>The Hanguk University of Foreign Studies</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Professional associations</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Jan. 2004~&nbsp;</TD>
    <TD> Chairman, Yuhan School Foundation</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%">May&nbsp;2003&nbsp;</TD>
    <TD> Professor, Graduate School of Environmental Studies, Seoul National University</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%">Mar. 2003&nbsp;</TD>
    <TD>President &#151; North Asia and President and CEO &#151; Yuhan-Kimberly</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%">Feb. 1995&nbsp;</TD>
    <TD> President &#038; CEO, Yuhan-Kimberly Ltd.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%">Apr. 1974&nbsp;</TD>
    <TD> Entered for a position of Business Analysis, Yuhan-Kimberly Ltd.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Other Activities</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%">2005-Present&nbsp;</TD>
    <TD>Co-Chairman, &#145;National Trust&#146; National Movement</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%" nowrap>2004-Present&nbsp;</TD>
    <TD> Charman, Presidential Commission on People-Centered Competitiveness Initiatives</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="1%">2003-Present&nbsp;</TD>
    <TD> Chairman, &#145;Seoul Green Trust&#146; National Movement</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">15
</DIV>

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


<DIV style="margin-top: 6pt"><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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>2003-Present&nbsp;</TD>
    <TD> Co-Chairman, Business Ethics is the Source of Top Performance(BEST Forum)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>2002-Present&nbsp;</TD>
    <TD> Chairman, Chollipo Arboretum</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>2002-Present&nbsp;</TD>
    <TD> Outside Director, KT Corporation</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>1998-Present&nbsp;</TD>
    <TD> Co-Chairman, &#145;Northeast Asian Forest Forum&#146; National Movement</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>1998-Present&nbsp;</TD>
    <TD> Co-Chairman, &#145;Forest For Life&#146; National Movement</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">&#149;</TD>
    <TD width="1%" nowrap>&nbsp;</TD>
    <TD><B>Awards</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Apr. 2005&nbsp;</TD>
    <TD> &#145;Gold Tower Order of Industrial Service Merit&#146; by Ministry of Government Administration and Home Affairs</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Dec. 2004&nbsp;</TD>
    <TD> &#145;Chahm Entrepreneur Award&#146; by Chung-Ang University</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Dec. 2003&nbsp;</TD>
    <TD> &#145;The Great Management Award of Seoul National University&#146; by Seoul National University, Graduate School
of Business</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Aug. 2003&nbsp;</TD>
    <TD> &#145;Ilga Award&#146; by Ilga Foundation</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Feb. 2003&nbsp;</TD>
    <TD> &#145;CEO Award&#146;, Korea Ethical Management Grand Prix by Federation of Korea Industry(FKI), IMI</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Oct. 2002&nbsp;</TD>
    <TD> &#145;Global Korea Award&#146; by the Council on Korean Studies at Michigan State University</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Jul. 2002&nbsp;</TD>
    <TD> &#145;CEO of the Year Award&#146; by the Korean Management Association Consulting(KMAC)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Oct. 1998&nbsp;</TD>
    <TD> &#145;The Asian Environmental Award&#146; by Korea/Japan Daily Consortium (Chosun Ilbo/Mainichi Newspapers)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Jun. 1998&nbsp;</TD>
    <TD> &#145;Ethical Management Award&#146; by Yonsei University, Yonsei School of Business</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Mar. 1998&nbsp;</TD>
    <TD> &#145;Silver Tower Order of Industrial Service Merit&#146; by Ministry of Government Administration and Home Affairs</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">o&nbsp;</TD>
    <TD width="10%" nowrap>Jun. 1997&nbsp;</TD>
    <TD> &#145;Global 500&#146; Roll of Honor by Untied Nations Environment Program Committee(UNEP)</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">16
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD> Comparison of BOD composition between before and after EGM</TD>
</TR>

</TABLE>
</DIV>
<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="2%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="5" style="border-bottom: 1px solid #000000"><B>Before EGM</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After EGM</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percentage of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>attendance</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">&#149;&nbsp;&nbsp; Standing Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&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"><B>Yong Kyung Lee</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom"><B>-</B></TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Joong Soo Nam(Replaced)</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Woo Sik Kim
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">-</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Woo Sik Kim</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sang Hoon Lee
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">-</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sang Hoon Lee</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jeong Soo Suh
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">-</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jeong Soo Suh</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">&#149;&nbsp;&nbsp; Outside Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&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">Sung Deuk Park
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sung Deuk Park</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Kook Hyun Moon</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom"><B>80</B></TD>
    <TD nowrap valign="bottom"><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Kook Hyun Moon(Re-elected)</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stuart B. Solomon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stuart B. Solomon</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jong Sang Kim
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jong Sang Kim</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Do Hwan Kim
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Do Hwan Kim</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jeong Ro Yoon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jeong Ro Yoon</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Kon Sik Kim
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kon Sik Kim</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thae Surn Kwarg
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">100</TD>
    <TD nowrap valign="bottom">%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Thae Surn Kwarg</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>The ratio of outside directors to total BOD will remain unchanged.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">17
</DIV>



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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Agenda No.&nbsp;4</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Approval of Management Contract</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Pursuant to Article&nbsp;33(Election of President) and Article&nbsp;34(Execution of Employment Contract with
the Candidate for President) of Articles of Incorporation of KT, approval of management contract is
requested.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to KT&#146;s Articles of Incorporation, newly elected President shall receive approval of his
or her management contract at the General Meeting of Shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The management contract includes mainly the provisions on his or her duty as the President, the
goal to be accomplished by President during his or her tenure, evaluation system on his or her
performance, and remuneration and incentive payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When the draft employment contract is approved at the General Shareholders&#146; Meeting, KT shall enter
into such management contract with the President.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The draft management contract is as follows.
</DIV>


<P align="center" style="font-size: 10pt">18
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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




<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>Management Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">Article&nbsp;1. Purpose of the Agreement
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">The purpose of this Agreement is to set forth the President&#146;s authority, responsibilities and
other necessary terms and conditions in connection with the election of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> as the
President (&#147;President&#148;) of KT Corporation (&#147;Company&#148;).
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;2. Term of Office of the President
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">The term of office of the President shall be from the effective date of the election of the
President by the General Meeting of Shareholders to the close of the Annual General Meeting of
Shareholders to be held in 2008.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;3. Duties and Responsibilities of the President
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The President shall represent the Company and oversee the whole affairs of the Company as
a representative director and CEO of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The President shall use his best efforts to achieve the management goals specified in
Article&nbsp;5 of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The President&#146;s duties, responsibilities, rights and obligations not specified herein
shall be determined in accordance with the Articles of Incorporation and other relevant laws
and regulations.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;4. Obligations of the President
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The President shall not disclose to a third party any confidential</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">19
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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


<DIV style="margin-top: 6pt"><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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>information of the
Company which he obtains during his tenure not only during but also after his term of
office.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event the President breaches any of his obligations set forth herein, the
President shall be held liable for such breach, and if, due to the said breach, the
President has obtained any personal gain or the Company suffers damages, such gain shall
revert to the Company and the President shall compensate the damages suffered by the
Company.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;5. Management Goals
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The management goals to be achieved by the President during his term of office shall be
determined in accordance with the Mid to Long-Term Management Plan approved by the Board of
Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order to achieve the goals set by the Mid to Long-Term Management Plan, the Board of
Directors shall establish annual goals prior to commencement of each fiscal year after
consultation with the President concerning the management goals for the following fiscal
year. In such case, the President and standing directors shall not participate in such
resolution of the Board of Directors, provided that the annual management goals for 2005
shall be the management goals for 2005 approved by the Board of Directors on December&nbsp;23,
2004.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;6. Evaluation
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors shall conduct evaluation of annual management goals each fiscal
year, provided that when it is deemed necessary, the Board of Directors may conduct
evaluation at any time during a fiscal year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If it is necessary for the evaluation under the foregoing Paragraph (1), the Board of
Directors may commission an expert institution with a research and may utilize the results
of such research for the</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">20
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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


<DIV style="margin-top: 6pt"><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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>evaluation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event the Board of Directors determines to commission a research to an expert
institution, the President shall immediately take any necessary measures in relation
thereto, such as execution of a service agreement, etc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors shall report the result of the evaluation under Paragraph (1)&nbsp;to
the General Meeting of Shareholders, and the President shall take necessary measures for
such report to the General Meeting of Shareholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In adopting a resolution of the Board of Directors under Paragraphs (1)&nbsp;and (2)&nbsp;above,
the President and standing directors shall not participate in such resolution.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;7. Remuneration
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The annual base salary shall be determined in accordance with the remuneration ceiling of
the directors approved by the General Meeting of Shareholders, and the criteria for
remuneration of standing directors and method of payment thereof which are reported to the
General Meeting of Shareholders, and 1/12 of the annual base salary shall be set as the
monthly remuneration during the term of office and shall be paid on the salary payment day
of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a partial month occurs in the month of the President&#146;s taking office or resignation,
the remuneration for such partial month, regardless of the cause therefor, shall be paid on
the prorated daily basis based on the actual number of days in service.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The base annual salary, regardless of title thereof, shall be deemed to include all
allowances payable to the President, and in case the base annual salary is adjusted during a
year, such change shall take effect on January 1 of the following year, unless otherwise
specified.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;8. Incentive Payment
</DIV>



<P align="center" style="font-size: 10pt">21
</DIV>

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



<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The incentive payment shall be determined based on the evaluation of the annual goals in
accordance with the criteria for remuneration of standing directors and method of payment
thereof which are reported to the General Meeting of Shareholders, and the calculation
formula of the payment ratio shall be as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Incentive payment ratio: payment ceiling / 30 x (overall points &#150; 70)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(Third decimal place shall be rounded off).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The incentive payment shall be made in principle within one month from the finalization
by the Board of Directors of the evaluation of the annual goals, provided that in case the
President resigns from office during the first half of a year, incentives shall be paid
based on the evaluation for the previous year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the President is dismissed during the term of office in accordance with Sub-paragraphs
1 through 4 of Article&nbsp;13 (1), no incentive payment for such year shall be made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Matters pertaining to the incentive payment not prescribed in Paragraphs (1)&nbsp;through
(3), such as payment in the events of the President&#146;s voluntary resignation or retirement for
unidentified reasons, shall be determined by a resolution of the Board of Directors. In such
case, the President and standing directors shall not participate in such resolution of the
Board of Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The incentive payment for a partial year of service during which the President takes
office or resigns from office shall be made on prorated monthly basis based on the number of
months in service, and the payment for the relevant month of taking office or resignation
shall be made in accordance with Article&nbsp;7 (2).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;9. Adjustment after the Incentive Payment
</DIV>



<P align="center" style="font-size: 10pt">22
</DIV>

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





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In the event that the score of evaluation is modified due to an error in the evaluation or other
causes after the incentive payment is made to the President, the amount of incentive shall be
newly calculated in conformity with the modified result, and shall be adjusted for the incentive
payment payable for the following year. However, if the President is dismissed or resigns,
immediate payment of any amount due or return of any excessive amount shall be effected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;10. Stock Option
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may grant stock options to the President.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The number of shares and exercise period, etc. to be granted to the President shall be
determined in accordance with the Articles of Incorporation, and the exercise price shall be
the market price arrived upon evaluation in accordance with the Enforcement Decree of the
Securities and Exchange Act.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;11. Severance Allowance
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The severance allowance shall be paid in accordance with the regulations on the payment of
severance allowance to officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;12. Taxes and Public Imposts
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">All remuneration payable to the President shall be paid after withholding all relevant taxes and
public imposts therefrom in accordance with the applicable laws and regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;13. Dismissal, etc. of the President
</DIV>



<P align="center" style="font-size: 10pt">23
</DIV>

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



<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company may dismiss the President even during the term of office by a special
resolution of the General Meeting of Shareholders if any of the following occurs;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case the overall score of the evaluation of the annual management goals is
less than sixty (60)&nbsp;points or an individual score of the core evaluation indices
designated by the Board of Directors is less than forty(40) points;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case the President breaches the obligations set forth under Article&nbsp;4 (1);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case the President breaches material provisions of the relevant laws and
regulations or the Articles of Incorporation, or a disqualification event prescribed by
the relevant laws and regulations or the Articles of Incorporation occurs or is
discovered later;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case the President is likely to cause material damages to the Company by
damaging the reputation and dignity of himself or the Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In case the President fails to or is unable to carry out his duties due to
diseases, etc. for two months and more.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A proposal to dismiss the President shall be submitted to the General Meeting of
Shareholders after a resolution by the Board of Directors adopted in accordance with Article
38 of the Articles of Incorporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Board of Directors shall provide the President with an opportunity to state his
opinion at the meeting of the Board of Directors convened for a resolution of dismissal, and
immediately following adoption of a resolution of dismissal, a written notice shall be
provided to the President, stating the purport and the reasons therefor in detail. In the
above meeting, the President and standing directors shall not participate in such resolution
of the Board of Directors.</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">24
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;14. Ownership of the Rights
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The President&#146;s right to any and all intellectual property developed independently by himself or
jointly with others during the term of office (including know-how and managerial ideas) shall be
exclusively held by the Company, and the President shall carry out the procedures necessary for
registration of such intellectual property rights in the name of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;15. Interpretation of the Agreement and Supervision of Performance
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event there is ambiguity over the interpretation of this Agreement, the
interpretation of such ambiguous parts shall be determined through consultation between the
Board of Directors and the President.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon dissolution of the President Recommendation Committee, the Board of Directors shall
supervise all matters regarding this Agreement on behalf of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The President and standing directors shall not participate in the resolutions of the
Board of Directors under Paragraphs (1)&nbsp;and (2)&nbsp;above.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;16. Amendment of the Agreement
</DIV>


<DIV style="margin-top: 6pt">
<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="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If it becomes necessary to amend this Agreement due to drastic changes in management
environments, etc. after execution of this Agreement, the President may request the Board of
Directors to amend the Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any amendment of this Agreement under Paragraph (1)&nbsp;shall require a resolution of the
Board of Directors and approval of the General</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">25
</DIV>

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

<DIV style="margin-top: 6pt"><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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Meeting of Shareholders. In such case, the
President and standing directors shall not participate in the resolution of the Board of
Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon a resolution and approval under Paragraph (2)&nbsp;above, the Company and the President
shall promptly enter into an amendment agreement.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IN WITNESS WHEREOF, the parties have executed this Agreement in duplicate, with one copy to be
retained by each party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">August &#95;&#95;&#95;, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">President Recommendation Committee<BR>
On behalf of KT Corporation
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&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">Name:</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 colspan="3" valign="top" align="left">Title: Chairman of the Committee</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">President</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">&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">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&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">Name:</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 colspan="3" valign="top" align="left">Title: President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">26
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">* In case Agenda No.2(Amendment of Articles of Incorporation) is not approved by the General
Meeting of Shareholders, Article. 5 of Management Agreement should be replaced as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;5. Management Goals
</DIV>


<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The management goals to be achieved by the President during his term of office(&#147;Term Goals&#148;)
shall be determined in accordance with the Mid to Long-Term Management Plan as stated in the
attached. However, should the Board of Directors determine that an amendment of the Term Goals
is necessary, the Board of Directors may make appropriate amendment upon obtaining approval of
Shareholders at the General Meeting. In such a case, the President and standing directors
shall not participate in such resolution of the Board of Directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order to achieve the Term Goals, the Board of Directors shall establish annual goals prior
to commencement of each fiscal year after consultation with the President concerning the
management goals for the following fiscal year. In such case, the President and standing
directors shall not participate in such resolution of the Board of Directors, provided that
the annual management goals for 2005 shall be the management goals for 2005 approved by the
Board of Directors on December&nbsp;23, 2004.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;Attached 1.&#093;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Term Goals.
</DIV></DIV>


<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left">O</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Establishment period of Term Goals : as of the end of 2007</TD>
</TR>

</TABLE>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">(Expiry of the term: the close of the 2008 AGM)
</DIV>


<DIV style="margin-top: 6pt">
<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="1%" nowrap align="left">O</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> Details of the Term Goals</TD>
</TR>

</TABLE>
</DIV>
<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="2%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"> Index</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Goals</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Basis of Establishment</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Total sales amount
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">13,800 Billion Won
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Mid-Term Management Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">EBITDA margin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">36.4</TD>
    <TD nowrap valign="top">%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Mid-Term Management Plan</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">27
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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


<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Additional Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; <B>The number and classification of voting stocks</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The record date to exercise voting rights at the General Meeting of Shareholders is June&nbsp;30, 2005.
As of the record date, the number of KT&#146;s total shares issued was 284,849,400. The number of common
stocks entitled to exercise voting rights excluding treasury stocks was 210, 755,813.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; <B>Method of Resolution</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the provisions of the Commercial Code, Agenda 1,3, and 4 shall be passed by majority
vote of shareholders present and over one-fourth of total shares entitled to voting right.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Agenda 2 shall be passed by over two-thirds of shares voted at the meeting and over one-third of
total shares entitled to voting right.
</DIV>



<P align="center" style="font-size: 10pt">28
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: July&nbsp;25, 2005
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">KT Corporation</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Wha Joon Cho</TD>
</TR>
<TR style="font-size: 1px">
    <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" style="border-top: 1px solid #000000">&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" colspan="3">Name: Wha Joon Cho
</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" colspan="3">Title: Managing Director
</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
