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<SEC-DOCUMENT>0001145549-09-000441.txt : 20090311
<SEC-HEADER>0001145549-09-000441.hdr.sgml : 20090311
<ACCEPTANCE-DATETIME>20090311100745
ACCESSION NUMBER:		0001145549-09-000441
CONFORMED SUBMISSION TYPE:	6-K/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090311
FILED AS OF DATE:		20090311
DATE AS OF CHANGE:		20090311

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/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14926
		FILM NUMBER:		09671409

	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/A
<SEQUENCE>1
<FILENAME>h03183e6vkza.htm
<DESCRIPTION>FORM 6-K/A
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vkza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></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>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/A</B>
</DIV>


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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of March&nbsp;2009</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Commission File Number 1-14926</B></DIV>

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

<DIV align="center" style="font-size: 10pt"><I>(Translation of registrant&#146;s name into English)</I></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>
<I>(Address of principal executive offices)</I></DIV>


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;20-F <FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b)
under the Securities Exchange Act of 1934.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No <FONT face="Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection
with Rule&nbsp;12g3-2(b): 82- <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</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"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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

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







<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>This Current Report on Form 6-K is being filed to be incorporated by reference into Registration
Statement No.&nbsp;333-156817 on Form F-4, effective February&nbsp;19, 2009, relating to the merger proposal.</B>
</DIV>


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

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


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Dated:  March 11, 2009<BR>KT Corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Thomas Bum Joon Kim
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left" colspan="3">Name:&nbsp;&nbsp;Thomas Bum Joon Kim&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left" colspan="3">Title:&nbsp;&nbsp;Managing Director&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Young Jin Kim
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left" colspan="3">Name:&nbsp;&nbsp;Young Jin Kim&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left" colspan="3">Title:&nbsp;&nbsp;Director&nbsp;</TD>
</TR>
</TABLE>


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



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


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

<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><B>Extraordinary General Meeting</B>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><B>of Shareholders</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="h03183h0318300.gif" alt="(KT LOGO)">
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</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">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>

<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="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#101"><B>Notice of Annual General Meeting of Shareholders</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#102">Matters Requiring Resolution</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-0px"><A href="#103"><FONT face="wingdings">&#110;</FONT> Agenda Item&nbsp;No.&nbsp;1<BR>
Approval of Merger Agreement between KT and KT Freetel, Co., Ltd.</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-0px"><A href="#104"><FONT face="wingdings">&#110;</FONT> Agenda Item&nbsp;No.&nbsp;2<BR>
Amendment of Articles of Incorporation</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#105">Additional Information</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>


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



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

<DIV align="left">
<A name="101"></A>
</DIV>

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


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">February&nbsp;25, 2009
</DIV>


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

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">KT will hold an Extraordinary General Meeting of Shareholders on March&nbsp;27, 2009 as described below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the Extraordinary General Meeting, two items will be resolved, including the merger with KT
Freetel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholders holding KT&#146;s common shares as of February&nbsp;5, 2009 will be entitled to vote at the
Extraordinary General Meeting of Shareholders.
</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I look forward to your participation.
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Suk Chae Lee<BR>
President and Chief Executive Officer
</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">n</FONT>
&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Date and Time: Friday, March&nbsp;27, 2009 10:00&nbsp;a.m. (local time)</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"><FONT face="wingdings">n</FONT>
&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Place: Lecture Hall (2F) of KT Corporation&#146;s R&#038;D Center located at 17 Woomyun-dong,
Seocho-gu, Seoul, Korea</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"><FONT face="wingdings">n</FONT>
&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Record Date : February&nbsp;5, 2009</TD>
</TR>

</TABLE>
</DIV>

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


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

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></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">
<A name="102"></A>
</DIV>

<DIV align="left" style="font-size: 14pt; margin-top: 12pt"><b>Matters Requiring Resolution</b>
</DIV>



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



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

<DIV align="left">
<A name="103"></A>
</DIV>

<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: 6pt"><b>Approval of Merger Agreement between KT and KT Freetel, Co., LTD.</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Pursuant to Article&nbsp;522 of the Commercial Code (Approval of Merger Agreement), approval of the
Merger Agreement with KT Freetel, Co., Ltd. is requested.</I>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To meet the fixed-wireless convergence trend proactively, while achieving management
efficiency and operational synergies to enhance competitiveness as a global company. KT Corporation
(hereunder &#147;KT&#148;) and KT Freetel Co., Ltd. (hereunder &#147;KTF&#148;) believe the merger will :
</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="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>maximize resource efficiency for their telecommunication operations;</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="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enable them to develop customer oriented convergent services;</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="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enable them to provide competitive bundled services;</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="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enable them to efficiently allocate resources and reduce costs in their
telecommunication operations; 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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>strengthen their overall competitiveness in the Korean telecommunications industry.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Companies entering Merger Agreement
</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="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Entity to Survive after Merger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">Name
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">KT Corporation</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="middle"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Address
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">206 Jungja-dong Bundang-gu, Seongnam<BR>
City, Gyeonggi Province</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">President
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">Suk Chae Lee</TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Entity to Cease
Existence after
Merger
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">Name
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">KT Freetel Co., Ltd.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="middle"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">Address
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">7-18 Shinchun-dong, Songpa-gu, Seoul</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="middle"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">President
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle">Haing Min Kwon</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Proposed Merger
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KTF will be merged with and into KT, with KT being the surviving entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Merger Ratio and Basis of Calculation
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;Merger Ratio
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exchange ratio for the shares of KT and KTF, respectively, shall be 1: 0.7192335.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(2)&nbsp;Basis of Calculation of Merger Ratio
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As both KT and KTF are public listed companies, the Merger Share Price is set pursuant to
Article&nbsp;84-7, Paragraph&nbsp;1 of the former Enforcement Decree of the Securities and Exchange Act and
Article&nbsp;36-12, Paragraph&nbsp;1 of its Enforcement Regulation, to derive the exchange ratio for the
shares of KT and KTF.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Merger Procedure
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;Issuance of KT Shares to KTF Shareholders<BR>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the merger, KTF common shareholders as of the Merger Date (expected to be May&nbsp;18, 2009) will
receive 0.7192335 shares of KT common share (par value KRW 5,000) for every one share of KTF common
share they own. KT shares exchanged for KTF shares will be either KT Treasury Shares or
</DIV>

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</DIV>

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



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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The number of the New Shares to be issued and the Treasury Shares to be delivered and the amount of
paid-in capital may be adjusted in the event (i)&nbsp;the adjustment is necessary to comply with the
limitation on foreign shareholding of KT shares under Article&nbsp;6, Paragraph (1)&nbsp;of the
Telecommunication Business Act of Korea, (ii)&nbsp;KTF acquires its own shares as a result of the
exercise of appraisal rights by its shareholders who oppose the Merger, or (iii)&nbsp;the payment is
made with respect to any fractional shares arising as a result of the issuance of new shares to KTF
shareholders; <I>provided</I>, that any such adjustment shall not affect the Merger Ratio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(2)&nbsp;Obligations to KTF Shareholders<BR>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT, by merging and acquiring KTF, bears no obligations to deliver to KTF Shareholders other than KT
Treasury Shares or KT New Shares as calculated using the Merger Ratio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Merger Timeline
</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="78%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BOD Resolution and Execution of Merger Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 20, 2009</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Record Date</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">February 5, 2009</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Merger EGM</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 27, 2009</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Merger Date</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 18, 2009</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 above mentioned timeline is subject to change due to regulatory matters, </TD>
</TR>

</TABLE>


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

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



<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">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>negotiations
with related parties and other matters.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#149; Other Matters to be Considered
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;Conditions Precedent<BR>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The obligations of each KT and KTF to complete the Merger under the Merger Agreement (the
&#147;Agreement&#148;) is subject to the satisfaction prior to or on the Merger Date of the conditions set
forth below; <I>provided</I>, that KT and KTF may waive or provide exemption from any of the conditions
specified below, in whole or in part, in writing:
</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="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Authorizations</U>. The authorization and approval for the Merger by the board of
directors and at the general shareholders meeting of KT and KTF, and any and all necessary
governmental approvals set forth in Article&nbsp;10.2.4 of the Merger Agreement shall have been
obtained, and all requirements under the applicable laws and regulations of Korea should
have been satisfied, as required for the execution of this Agreement and the consummation of
the transactions contemplated by 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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Representations and Warranties</U>. The representations and warranties of KT and KTF
made in Article&nbsp;10 of the Merger Agreement shall be true and correct in all material
respects as of the date hereof and as of the Merger Date.</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="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Covenants</U>. All covenants and other obligations required to be performed by KT
and KTF as set forth in Article&nbsp;11 of the Merger </TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</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: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement hereof shall have been
performed in all material respects.</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="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>No Material Adverse Change.</U> From the date of this Agreement until the Merger
Date, any material adverse change shall not have occurred in the assets or business
conditions of either KT or KTF.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(2)&nbsp;Termination<BR>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Merger Agreement may be terminated at any time prior to the Merger Date if any of the following
events occur; <I>provided</I>, that any party liable for the occurrence of any event of termination may
not terminate this 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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if KT and KTF mutually agree in writing to terminate 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="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the proceeding for bankruptcy, dissolution, liquidation, insolvency or rehabilitation
commences or an application thereof has been made to commence any such proceeding with
respect to either KT or KTF;</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="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;if shareholders&#146; approval for the Merger is not obtained at either KT or KTF within
three (3)&nbsp;months from the closure of shareholders registry to determine the shareholders
entitled to exercise voting rights at the general shareholders&#146; meeting convened for the
purpose of approving the Merger, (ii)&nbsp;any governmental approval necessary for the Merger as
set forth in Article&nbsp;10.2.4 of the Merger Agreement is definitively rejected by the relevant
governmental authority even prior to the expiry of the three (3)&nbsp;month period prescribed in (i)&nbsp;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</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: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>above, or (iii)&nbsp;it becomes evident that it will be infeasible or illegal to consummate
the Merger under this Agreement due to a change in the laws or governmental restrictions but
KT and KTF do not otherwise agree on alternative terms within thirty (30)&nbsp;days from the
occurrence of such event;</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="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if a material adverse effect results from a breach by either KT or KTF of any of its
respective representations and warranties, covenants or arrangements under this Agreement,
and such breach fails to be cured within thirty (30)&nbsp;days from the receipt of a written
notice requiring to cure such breach delivered by the non-breaching party;</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="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if either the aggregate purchase price to be paid by KT to its shareholders who exercise
appraisal rights exceeds 1 trillion Won , or the aggregate purchase price to be paid by KTF
to its shareholders who exercise appraisal rights exceeds 700&nbsp;billion Won;</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="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if from the date of this Agreement until the Merger Date, there is a material adverse
change in the financial condition, results of operation, the business condition or
prospects, of either KT or KTF; or</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="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>when the governmental approvals necessary for the Merger set forth in Article&nbsp;10.2.4 of
the Merger Agreement have been obtained, but such approvals include conditions which (i)&nbsp;if
complied with, are reasonably expected to result in a material adverse change in the
financial condition, results of operation, the business condition or </TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</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: #textcolor#; background: #bgcolor#">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prospects of KT, or
(ii)&nbsp;are impossible or extremely difficult to comply with within the time period set forth
in such approvals.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(3)&nbsp;Dividend
</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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>KT may distribute dividends for the fiscal year 2008. The amount of dividends, which
shall not exceed 400&nbsp;billion Korean Won, shall be determined at the Annual General
Meeting of Shareholders for the fiscal year 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(4)&nbsp;Merger Agreement<BR>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Full details of the Merger Agreement can be found in the Registration Statement on Form
F-4 filed with the SEC on January&nbsp;21, 2009.
</DIV>


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



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

<DIV align="left">
<A name="104"></A>
</DIV>

<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: 6pt"><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 the Articles of Incorporation is requested.</I>
</DIV>

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

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT proposes to amend Article&nbsp;2 (Purpose) of the Articles of Incorporation to include services
currently provided by KTF, including frequency-based telecommunication services, as well as &#147;New
and Renewable Energy and Energy Generation Business,&#148; to pursue new growth opportunities in the
alternative energy industry.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In accordance to the Kyoto Protocol the Korean government plans to introduce Greenhouse gas
emission reduction policies and by 2010 start levying carbon tax. Thus increasing the need for
companies to implement ways to efficiently manage energy or create non-polluting green energy. Each
year, KT&#146;s Internet Data Service business and telecommunication facilities consume more than 150
billion Won in energy which makes KT a considerable energy consuming and carbon emitting entity.
KT&#146;s plan is to strategically expand into the alternative energy generation business, such as the
geothermal or solar energy, by utilizing the accumulated knowledge and
</DIV>

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

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">resources in the power
management field, as well as the idle space resulting from KT&#146;s Broadband Convergence Network(BcN)
plan. By doing so, KT pursues to enhance its image as an environmentally friendly company, as well
as, reduce energy costs and achieve growth synergy.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT proposes to amend Article&nbsp;35 (Executive Officers) of the Articles of Incorporation as the
current definition of executive officers, &#147;Senior Executive Vice President, Executive Vice
President, Senior Vice President, and Vice President&#148; restricts changes to adapt to with the
changing business environment. KT proposes to allow the Board of Directors to determine the
classification of executive directors, providing flexibility to the President and other Directors
to nominate experts from a wider pool of resources with experience and competence.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT proposes to amend Article&nbsp;38 (Resolution and Delegation) of the Articles of Incorporation to
ease the requirement for Board approval for sale of equity in KT&#146;s subsidiaries that accompanies
transfer of management. Due to the expanded scope and complexity of KT&#146;s business, regulatory
requirements and legal requirements to establish special purpose companies during bids for
contracts, KT has an increasing need to sell equity of small subsidiaries. KT proposes to
supplement the amendment by concurrently amending the regulations of the board of directors to
include a board resolution requirement for sale of equity in small subsidiaries. Currently,
</DIV>

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

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KT has
an asymmetric decision-making structure as it&#146;s articles of incorporation requires approval by
two-thirds of the directors in office on the sale of equity decisions, whereas in the case of
investment decisions it only requires the majority of the votes. Such asymmetric decision making
structure has no precedent in the Korean market. The standard Articles of Incorporation
established by the Korean Listed Companies Association stipulates majority of affirmative votes of
the directors for general resolutions. In addition Korean disclosure regulations require that only
equity sales that are 2.5% in excess of total shareholder&#146;s equity (222&nbsp;billion Won as of December
2008) be disclosed. KT intends to ease resolution requirements only for equity sales smaller than
10&nbsp;billion Won.
</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><B>Amendment of the Korean translation of the term &#147;President&#148; from &#147;</B><B><I>sajang</I></B><B>&#148; to &#147;</B><B><I>hwejang</I></B><B>&#148;</B></TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
KT proposes to amend all the Articles containing the term &#147;<I>sajang</I>&#148; (translates as &#147;President&#148;) by
replacing the term with &#147;<I>hwejang</I>&#148; in order to clarify the difference in scope of management role
and responsibility of the President (<I>hwejang</I>) of KT, with the President (<I>sajang</I>) of KT
subsidiaries. The term &#147;<I>hwejang</I>&#148; better describes the position as President of KT&#146;s Group and it is
a widely used terminology by business groups in Korea.
</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><B>Amendment of references to &#147;Securities and Exchange Act&#148; into references to &#147;Financial
Investment Services and Capital Markets Act&#148; and &#147;Commercial Code&#148;</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Securities and Exchange Act (&#147;SEA&#148;) was repealed as of February&nbsp;4, 2009 and the matters
previously regulated by
the SEA are now regulated by
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</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 Financial Investment Services and Capital
Markets Act which became effective as of the same date, and the Commercial Code. KT proposes to
amend all the Articles referring to the former &#147;Securities and Exchange Act&#148; by replacing such term
with either the &#147;Financial Investment Services and Capital Markets Act&#148; or the &#147;Commercial Code&#148; as
appropriate to reflect this change in legislation.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</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><FONT face="wingdings">&#108;</FONT> Comparison between the Articles of Incorporation before and after amendments:</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="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;2. (Purpose)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;2. (Purpose)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">The objective of KT is to engage in the following
business activities:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The objective of KT is to engage in the
following business activities:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1. Information and communications business;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1. Information and communications business;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>14. Any and all other activities or businesses
incidental to or necessary for the attainment of the
foregoing.</B></U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>14. Frequency-based telecommunications
services and other telecommunications
services</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"><U><B>15. Value-added telecommunications business</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"><U><B>16. Manufacture, provision (screening)&nbsp;and
distribution of contents such as musical
records, music videos, movies, videos and
games</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"><U><B>17. Issuance and management of pre-paid
electronic payment instruments, and
businesses related to electronic finance
such as payment gateway services</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"><U><B>18. Sales and leasing of equipment and
facilities related to the activities
mentioned in Subparagraphs 14 through 17</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"><U><B>19. Any overseas business or export and
import business related to activities
mentioned in Subparagraphs 14 through 18</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"><U><B>20. Tourism</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"><U><B>21. Insurance agency business</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"><U><B>22. New and renewable energy and energy
generation business</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"><U><B>23. Any and all other activities or</B></U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></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"><U><B>businesses incidental to or necessary for
attainment of the foregoing.</B></U></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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;9 (Preemptive Rights)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;9 (Preemptive Rights)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(2) Notwithstanding Paragraph (1)&nbsp;above, new shares may
be issued to persons other than the shareholders of KT,
in the following cases:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(2) Notwithstanding Paragraph (1)&nbsp;above, new
shares may be issued to persons other than
the shareholders of KT, in the following
cases:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>1.</B></U> When the new shares are issued by public
offering or subscribed by underwriters pursuant to
<U><B>Article&nbsp;2 and Article&nbsp;8 of the Securities and
Exchange Act (&#147;SEA&#148;)</B></U>;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>1.</B></U> When the new shares are issued by public
offering or subscribed by underwriters
pursuant to <U><B>Article&nbsp;4 and Article&nbsp;119 of the
Financial Investment Services and Capital
Markets Act (&#147;FSCMA&#148;)</B></U>;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>2.</B></U> When the members of the Employee Stock
Ownership Association of KT have preemptive rights to
subscribe for such new shares pursuant to <B><u>Article&nbsp;191-7
of the SEA</u></B>;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>2.</B></U> When the members of the Employee Stock
Ownership Association of KT have preemptive
rights to subscribe for such new shares
pursuant to <U><B>Article&nbsp;165-7 of the FSCMA</B></U>;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>3.</B></U> When the new shares are represented by
depositary receipt pursuant to <U><B>Article&nbsp;192 of the
SEA</B></U>;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>3.</B></U> When the new shares are represented by
depositary receipt pursuant to <U><B>Article
165-16 of the FSCMA</B></U></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>6.</B></U> When the new shares are issued by a resolution
of the Board of Directors through a general public
offering pursuant to <B><u>Article&nbsp;189-3 of the SEA</u></B>.
However, in such case, the total number of the shares
to be issued shall not exceed ten percent (10%) of the
total number of KT issued and outstanding; or
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>6.</B></U> When the new shares are issued by a
resolution of the Board of Directors through
a general public offering pursuant to
<U><B>Article&nbsp;165-6 of the FSCMA</B></U>. However, in such
case, the total number of the shares to be
issued shall not exceed ten percent (10%) of
the total number of KT issued and
outstanding; or</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;10 (Stock Options)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;10 (Stock Options)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)</B></U> KT may grant stock options to its officers
and employees who have contributed, or are capable of
contributing, to the establishment,
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)</B></U> KT may grant stock options to its
officers and employees who have contributed,
or are capable of contributing, to the
establishment,</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">management or technical innovation of KT, except for
officers or employees in any of the following cases, by
a Special Resolution of the General Meeting of
Shareholders pursuant to <U><B>Article&nbsp;189-4 of the
SEA</B></U>, to the extent not exceeding fifteen percent
(15%) of the total number of issued shares, provided
that KT may grant stock options by a resolution of the
Board of Directors adopted by affirmative votes of
two-thirds (2/3) of the directors in offices, to the
extent not exceeding one percent (1%) of the total
number of issued shares. In such case, the provision
of the latter part of the Proviso of Paragraph&nbsp;1 of
Article&nbsp;38 shall apply mutatis mutandis:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">management or technical innovation of KT,
except for officers or employees in any of
the following cases, by a Special Resolution
of the General Meeting of Shareholders
pursuant to <U><B>Article&nbsp;340-2 and Article&nbsp;542-3
of the Commercial Code of Korea</B></U>, to the
extent not exceeding fifteen percent (15%)
of the total number of issued shares,
provided that KT may grant stock options by
a resolution of the Board of Directors
adopted by affirmative votes of two-thirds
(2/3) of the directors in offices, to the
extent not exceeding one percent (1%) of the
total number of issued shares. In such case,
the provision of the latter part of the
Proviso of Paragraph&nbsp;1 of Article&nbsp;38 shall
apply mutatis mutandis:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>1.</B></U> The largest shareholder of KT and the Related
Person thereto (refers to the Related Person as
prescribed in <U><B>Paragraph&nbsp;2</B></U>, <U><B>Article&nbsp;10-3 of
the Enforcement Decree of the SEA</B></U>. The same shall
apply in this Article);
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>1.</B></U> The largest shareholder of KT and the
Related Person thereto (refers to the
Related Person as prescribed in <U><B>Paragraph
2-5</B>, <B>Article&nbsp;542-8 of the Commercial Code of
Korea</B></U>. The same shall apply in this
Article);</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>2.</U> </B>Major Shareholders (refers to the Major Shareholders
as prescribed in Paragraph (1)&nbsp;of <U><B>Article&nbsp;188 of the
SEA</B></U>. The same shall apply hereinafter) and the Related
Person thereto; or
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>2.</U> </B>Major Shareholders (refers to the Major
Shareholders as prescribed in Paragraph
(2-6) of <U><B>Article&nbsp;542-8 of the Commercial
Code of Korea</B></U>. The same shall apply
hereinafter) and the Related Person thereto;
or</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(5)</U> </B>The exercise price per share of the stock options
shall not be less than the price as set forth in <U><B>the
SEA</B></U>.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(5)</U> </B>The exercise price per share of the
stock options shall not be less than the
price as set forth in <U><B>the Commercial Code of
Korea</B></U>.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;15. (Issuance of Convertible Bonds)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;15. (Issuance of Convertible Bonds)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(4)</U> </B>The period during which conversion rights may be
exercised shall commence on the date set forth in <B><U>the
SEA</U> </B>after the date of issuance of the relevant
convertible bonds and end on the date immediately
preceding the redemption date thereof. However, the
Board of Directors may adjust the conversion period in
accordance with relevant laws within the above period
by its resolution.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(4)</U> </B>The period during which conversion
rights may be exercised shall commence on
the date set forth in <B><U>the FSCMA</U> </B>after the
date of issuance of the relevant convertible
bonds and end on the date immediately
preceding the redemption date thereof.
However, the Board of Directors may adjust
the conversion period in accordance with
relevant laws within the above period by its resolution.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;16 (Issuance of Bonds with Warrants)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;16 (Issuance of Bonds with Warrants)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(4)</U> </B>The period during which warrants may be exercised
shall commence on the date set forth in <B><U>the SEA</U> </B>after
the date of issuance of the relevant bonds with
warrants and end on the date immediately preceding the
redemption date thereof. Provided that, the Board of
Directors may adjust the conversion period in
accordance with the relevant laws within the above
period by its resolution.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(4)</U> </B>The period during which warrants may be
exercised shall commence on the date set
forth in <B><U>the FSCMA</U> </B>after the date of
issuance of the relevant bonds with warrants
and end on the date immediately preceding
the redemption date thereof. Provided that,
the Board of Directors may adjust the
conversion period in accordance with the
relevant laws within the above period by its
resolution.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;18 (Convening of General Meeting)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;18 (Convening of General Meeting)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(1)</U> </B>Ordinary General Meeting of Shareholders shall be
convened within three (3)&nbsp;months after the end of each
fiscal year, and Extraordinary General Meeting of
Shareholders may be convened at any time, by <B><U>the
President (</U></B><U><B><I>sajang</I></B></U><B><U>)</U> </B>pursuant to a resolution of the
Board of Directors except
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(1)</U> </B>Ordinary General Meeting of Shareholders
shall be convened within three (3)&nbsp;months
after the end of each fiscal year, and
Extraordinary General Meeting of
Shareholders may be convened at any time, by
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> pursuant to a
resolution of the Board of Directors except</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">as otherwise provided by the
relevant laws and regulations. Provided, however, that
Article (29), Paragraph (2)&nbsp;shall apply mutatis
mutandis in the event <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> fails to
perform his duties.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">as otherwise provided by the relevant laws
and regulations. Provided, however, that
Article (29), Paragraph (2)&nbsp;shall apply
mutatis mutandis in the event <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U> fails to perform his duties.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;19. (Chairman)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;19. (Chairman)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>The President (</B><B><I>sajang</I></B><B>)</B></u> shall preside at the General
Meeting of Shareholders; provided, however, that
Paragraph (2)&nbsp;of Article&nbsp;29 shall apply mutatis
mutandis in the event that <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> fails
to perform his duties.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> shall preside at the
General Meeting of Shareholders; provided,
however, that Paragraph (2)&nbsp;of Article&nbsp;29
shall apply mutatis mutandis in the event
that <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> fails to
perform his duties.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;24. (Number of Directors)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;24. (Number of Directors)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">KT shall have not more than eleven (11)&nbsp;directors. The
number of standing directors including <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> shall not exceed three (3), and the number of
outside directors shall not exceed eight (8).
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">KT shall have not more than eleven (11)
directors. The number of standing directors
including <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></u> shall not
exceed three (3), and the number of outside
directors shall not exceed eight (8).</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;25. (Election of Representative Director and
Directors)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;25. (Election of Representative
Director and Directors)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)The President (</B><B><I>sajang</I></B><B>)</B></U> shall be elected by a
resolution of the General Meeting of Shareholders among
those who are recommended by <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
Recommendation Committee pursuant to Article (32)&nbsp;of
these Articles of Incorporation, and the standing
director recommended by <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> may be
elected the Representative Director by a resolution of
the Board of Directors.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)The President (</B><B><I>hwejang</I></B><B>)</B></U> shall be elected
by a resolution of the General Meeting of
Shareholders among those who are recommended
by <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee pursuant to Article (32)&nbsp;of these
Articles of Incorporation, and the standing
director recommended by <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U> may be elected the Representative
Director by a resolution of the Board of
Directors.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(2)</U> </B>The dismissal of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> requires a
resolution by the General Meeting of Shareholders
adopted by the affirmative
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(2)</U> </B>The dismissal of <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
requires a resolution by the General Meeting
of Shareholders adopted by</TD>
</TR>
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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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">vote of two-thirds (2/3) of the voting rights of the
shareholders in attendance at the Meeting; provided,
however, that such votes shall represent at least
one-third (1/3) of the total number of issued shares of
KT. Dismissal of the Representative Director other than
<U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> shall be in accordance with the
resolution under Article&nbsp;38 of these Articles of
Incorporation.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the affirmative vote of two-thirds (2/3) of the voting
rights of the shareholders in attendance at
the Meeting; provided, however, that such
votes shall represent at least one-third
(1/3) of the total number of issued shares
of KT. Dismissal of the Representative
Director other than <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
shall be in accordance with the resolution
under Article&nbsp;38 of these Articles of
Incorporation.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(3)</U> </B>Standing directors other than <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> shall be elected at the General Meeting of
Shareholders among the executive officers under the
provision of Article&nbsp;35 of these Articles of
Incorporation who are recommended by <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> with the consent of the Board of Directors.
<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> may propose to the General
Meeting of Shareholders with the consent of the Board
of Directors the dismissal of any standing director
even during his/her term of office, when any of the
following event occurs. In this case, the standing
directors other than <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> shall not
participate in the resolution of the Board of
Directors:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(3)</U> </B>Standing directors other than <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> shall be elected at the
General Meeting of Shareholders among the
executive officers under the provision of
Article&nbsp;35 of these Articles of
Incorporation who are recommended by <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> with the consent of the
Board of Directors. <U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U>
may propose to the General Meeting of
Shareholders with the consent of the Board
of Directors the dismissal of any standing
director even during his/her term of office,
when any of the following event occurs. In
this case, the standing directors other than
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> shall not
participate in the resolution of the Board
of Directors:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1. Inability to perform his/her duties for a period not
less than one (1)&nbsp;year due to his/her physical and/or
mental disorders; or
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1. Inability to perform his/her duties for a
period not less than one (1)&nbsp;year due to
his/her physical and/or mental disorders; or</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2. Remarkably poor results of his/her business
management due to deficient management abilities.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2. Remarkably poor results of his/her
business management due to deficient
management abilities.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(4)</U> </B>Notwithstanding Paragraph&nbsp;3 above, if <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee has recommended a
candidate for <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>, the candidate for
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(4)</U> </B>Notwithstanding Paragraph&nbsp;3 above, if
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee has recommended a candidate for
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>, the candidate</TD>
</TR>
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</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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> shall recommend candidates for
the standing directors with the consent of the Board of
Directors. Provided, however, that the candidate for
<U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> is not elected as <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> at the General Meeting of Shareholders, his
recommendation of the candidacy for the standing
directorship shall become null and void.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">for <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> shall recommend
candidates for the standing directors with
the consent of the Board of Directors.
Provided, however, that the candidate for
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> is not elected as
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> at the General
Meeting of Shareholders, his recommendation
of the candidacy for the standing
directorship shall become null and void.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>4.</U> </B>Any person who falls under the disqualification
criteria under the Commercial Code of Korea, <U><B>the SEA of
Korea</B></U> and other relevant laws and regulations
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>4.</B></U> Any person who falls under the
disqualification criteria under the
Commercial Code of Korea <U><B>&#060;deleted&#062;</B></U> and
other relevant laws and regulations</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;29. (Duties of <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> and Directors)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;29. (Duties of <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
and Directors)</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(1)</U> </B>The Representative Directors shall respectively
represent KT, the Representative Director/<U><B>President
(</B><B><I>sajang</I></B><B>)</B></U> shall execute businesses resolved by the Board
of Directors and supervise all businesses of KT. Duties
of the Representative Director elected through
recommendation of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> shall be
determined by the Board of Directors.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(1)</U> </B>The Representative Directors shall
respectively represent KT, the
Representative Director/<U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
shall execute businesses resolved by the
Board of Directors and supervise all
businesses of KT. Duties of the
Representative Director elected through
recommendation of <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
shall be determined by the Board of
Directors.</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(2)</U> </B>Standing directors shall assist <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> and shall perform their duties. In the event
<U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> fails to perform his duties, a
standing director shall perform his/her duties in
accordance with the order as provided in the Office
Regulation. However, in the event both <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> and standing
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(2)</U> </B>Standing directors shall assist <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> and shall perform their
duties. In the event <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
fails to perform his duties, a standing
director shall perform his/her duties in
accordance with the order as provided in the
Office Regulation. However, in the event
both <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> and standing</TD>
</TR>
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</DIV>


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</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%">
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<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">directors fail to perform their
duties, a director shall perform his/her duties in
accordance with the order as provided in the Office
Regulation.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">directors fail to perform their duties, a
director shall perform his/her duties in
accordance with the order as provided in the
Office Regulation.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;31. (Remuneration and Severance Allowance for
Directors)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;31. (Remuneration and Severance
Allowance for Directors)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted... &#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(2)</B></U> The criteria for remuneration for <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U> and the standing directors, and the method of
payment thereof shall be determined by a resolution of
the Board of Directors, which shall be reported to the
General Meeting of Shareholders.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(2)</B></U> The criteria for remuneration for <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> and the standing
directors, and the method of payment thereof
shall be determined by a resolution of the
Board of Directors, which shall be reported
to the General Meeting of Shareholders.</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(3)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> and the standing directors
shall not participate in the resolution of the Board of
Directors as set forth in Paragraph (2)&nbsp;above.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(3)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> and the standing
directors shall not participate in the
resolution of the Board of Directors as set
forth in Paragraph (2)&nbsp;above.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;32. (<U><B>President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation
Committee)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;32. (<U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)</B></U> KT may organize a <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation
Committee in order to recommend a <U><B>presidential (</B><B><I>sajang</I></B><B>)</B></U>
candidate. The <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation
Committee shall consist of the following members:
However, any person who was elected as a member of
<U><B>President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee shall not
be a Candidate for <U><B>President (</B><B><I>sajang</I></B><B>)</B></U>.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)</B></U> KT may organize a <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee in order to
recommend a <U><B>presidential (</B><B><I>hwejang</I></B><B>)</B></U>
candidate. The <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee shall consist of
the following members: However, any person
who was elected as a member of <B>President
(</B><B><I>hwejang</I></B><B>) </B>Recommendation Committee shall not
be a Candidate for <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1. All of the outside directors;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1. All of the outside directors;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>2.</B></U> One (1)&nbsp;person who is designated by the Board of
Directors from among ex-<U><B>Presidents (</B><B><I>sajang</I></B><B>)</B></U> of KT; and
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>2.</B></U> One (1)&nbsp;person who is designated by the
Board of Directors from among ex-<U><B>Presidents
(</B><B><I>hwejang</I></B><B>)</B></U> of KT; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3. One (1)&nbsp;non-government person who is
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3. One (1)&nbsp;non-government person who is</TD>
</TR>
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</TABLE>
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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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">designated as a
member of the President Recommendation Committee by the
Board of Directors with the President and the standing
directors excluded (in any event excluding former
(within 2&nbsp;years) and present officers and employees of
any telecommunications business operator who is in
competition with KT and any of their related persons as
defined in MRFTA, and officers and employees of KT, and
the public officials).
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">designated as a member of the President
Recommendation Committee by the Board of
Directors with the President and the
standing directors excluded (in any event
excluding former (within 2&nbsp;years) and
present officers and employees of any
telecommunications business operator who is
in competition with KT and any of their
related persons as defined in MRFTA, and
officers and employees of KT, and the public
officials).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(2)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee
shall be organized by not later than two (2)&nbsp;months
prior to the date of expiration of the term of office
of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> (or within two (2)&nbsp;weeks from
the date of retirement of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> when
such retirement is due to reasons other than the
expiration of the term of office thereof), and shall be
dissolved after the execution of management agreement
between <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> so elected and the
chairman of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation
Committee.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(2)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee shall be organized by not later
than two (2)&nbsp;months prior to the date of
expiration of the term of office of <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> (or within two (2)&nbsp;weeks
from the date of retirement of <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U> when such retirement is due to
reasons other than the expiration of the
term of office thereof), and shall be
dissolved after the execution of management
agreement between <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> so
elected and the chairman of <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U> Recommendation Committee.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(3)</B></U> The chairman of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
Recommendation Committee shall be elected by the Board
of Directors from among its members who hold the
position of outside directors of KT. In this case, <U><B>the
President (</B><B><I>sajang</I></B><B>)</B></U> and the standing directors shall not
participate in the resolution of the Board of
Directors.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>(3) </B>The chairman of <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee shall be elected by
the Board of Directors from among its
members who hold the position of outside
directors of KT. In this case, <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U> and the standing directors shall
not participate in the resolution of the
Board of Directors.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(4)</B></U> A resolution of <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
Recommendation Committee shall be adopted by the
affirmative votes of a majority of the members in
office other than
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(4)</B></U> A resolution of <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee shall be adopted by
the affirmative votes of a majority of the
members in office other than</TD>
</TR>
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</TABLE>
</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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">the chairman thereof. In this case, the chairman shall
not have any voting rights.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the chairman thereof. In this case, the
chairman shall not have any voting rights.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(5)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee
shall examine all <U><B>the presidential (</B><B><I>sajang</I></B><B>)</B></U> candidates
in compliance with the criteria for the examination of
a candidate for <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> prescribed by
the Board of Directors, in consideration of the
following requirements:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(5)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee shall examine all <U><B>the presidential
(</B><B><I>hwejang</I></B><B>)</B></U> candidates in compliance with the
criteria for the examination of a candidate
for <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> prescribed by
the Board of Directors, in consideration of
the following requirements:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;33. (Election of <U><B>President (</B><B><I>sajang</I></B><B>)</B></U>)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;33. (Election of <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)</B></U>&nbsp;<U><B>President (</B><B><I>sajang</I></B><B>)</B></U> shall be elected from among
CEO-qualified candidates who have a knowledge of
management and economics or who have much managerial
work experience.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)</B></U>&nbsp;<U><B>President (</B><B><I>hwejang</I></B><B>)</B></U> shall be elected
from among CEO-qualified candidates who have
a knowledge of management and economics or
who have much managerial work experience.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(2)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee may
conduct a search for such candidates or hire a third
party agency to perform searches.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(2)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee may conduct a search for such
candidates or hire a third party agency to
perform searches.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(3)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee
shall examine the candidates for <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
who are searched pursuant to the provision of Paragraph
2 above, in accordance with the candidates evaluation
criteria determined by the Board of Directors.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(3)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee shall examine the candidates for
<B>the President (</B><B><I>hwejang</I></B><B>) </B>who are searched
pursuant to the provision of Paragraph&nbsp;2
above, in accordance with the candidates
evaluation criteria determined by the Board
of Directors.</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(4)</U></B>&nbsp;<U><B>The
President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee
shall, in selecting the candidates for <U><B>the President
(</B><B><I>sajang</I></B><B>)</B></U>, consult with such candidates regarding the
terms of employment contract including the management
goal established by the Board of Directors. In such
case, if
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(4)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee shall, in selecting the candidates
for <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>, consult with
such candidates regarding the terms of
employment contract including the management
goal established by the Board of Directors.
In such case, if</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">deemed necessary, <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
Recommendation Committee may change the terms of
employment contract.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">deemed necessary, <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation Committee
may change the terms of employment contract.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(5)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee
shall recommend a candidate for <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>
to the General Shareholders&#146; Meeting, based on the
evaluation under Paragraph&nbsp;3 and the consultation under
Paragraph&nbsp;4 above, concurrently submitting a draft
employment contract.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(5)</U></B>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> Recommendation
Committee shall recommend a candidate for
<U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> to the General Shareholders&#146; Meeting, based on the
evaluation under Paragraph&nbsp;3 and the
consultation under Paragraph&nbsp;4 above,
concurrently submitting a draft employment
contract.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(6)</B></U>&nbsp;<U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> and standing directors shall
not attend the Board of Directors&#146; Meeting for the
resolution of the agenda prescribed in Paragraphs 2
through 4.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(6)</B></U>&nbsp;<U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> and standing
directors shall not attend the Board of
Directors&#146; Meeting for the resolution of the
agenda prescribed in Paragraphs 2 through 4.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;34. (Execution of Employment Contract with the
Candidate for <U><B>President (</B><B><I>sajang</I></B><B>)</B></U>)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;34. (Execution of Employment
Contract with the Candidate for <U><B>President
(</B><B><I>hwejang</I></B><B>)</B></U>)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)</B></U> When the draft employment contract submitted
pursuant to Paragraph&nbsp;5 of Article&nbsp;33 above is approved
at the General Shareholders&#146; Meeting, KT shall enter
into such management contract with the candidate for
<U><B>President (</B><B><I>sajang</I></B><B>)</B></U>. In such case, the Chairman of <U><B>the
President (</B><B><I>sajang</I></B><B>)</B></U> Recommendation Committee shall, in
the capacity of the representative of KT, sign the
management contract.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)</B></U> When the draft employment contract
submitted pursuant to Paragraph&nbsp;5 of Article
33 above is approved at the General
Shareholders&#146; Meeting, KT shall enter into
such management contract with the candidate
for <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>. In such case, the
Chairman of <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
Recommendation Committee shall, in the
capacity of the representative of KT, sign
the management contract.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(2)</B></U> The Board of Directors may conduct a performance
review to determine if the new <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> has
performed his/her duties under the management contract
as provided in Paragraph&nbsp;1 or hire a professional
evaluation agency for such purpose.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(2)</B></U> The Board of Directors may conduct a
performance review to determine if the new
<U><B>President (</B><B><I>hwejang</I></B><B>)</B></U> has performed his/her
duties under the management contract as
provided in Paragraph&nbsp;1 or hire a
professional evaluation agency for such
purpose.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(3)</B></U> When the Board of Directors determines,
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(3)</B></U> When the Board of Directors determines,</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</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="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">based on
the result of performance review under the provision of
Paragraph&nbsp;2 above, that the new <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> has
failed to achieve the management goal, it may propose
to dismiss the <U><B>President (</B><B><I>sajang</I></B><B>)</B></U> at the General
Shareholders&#146; Meeting.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">based on the result of performance review
under the provision of Paragraph&nbsp;2 above,
that the new <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U> has failed
to achieve the management goal, it may
propose to dismiss the <U><B>President (</B><B><I>hwejang</I></B><B>)</B></U>
at the General Shareholders&#146; Meeting.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(5) The performance review of the <U><B>President (</B><B><I>sajang</I></B><B>)</B></U>
prescribed in Paragraph&nbsp;2 above, shall be conducted by
the Board of Directors at the closing of each fiscal
year or may be delegated by the Board of Directors to a
professional evaluation agency; provided, however, that
if the Board of Directors deems necessary, it may
conduct the performance review during any fiscal year.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(5)&nbsp;The performance review of the <U><B>President
(</B><B><I>hwejang</I></B><B>)</B></U> prescribed in Paragraph&nbsp;2 above,
shall be conducted by the Board of Directors
at the closing of each fiscal year or may be
delegated by the Board of Directors to a
professional evaluation agency; provided,
however, that if the Board of Directors
deems necessary, it may conduct the
performance review during any fiscal year.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted below...&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted below...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(7)</U>&nbsp;</B><U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> and the standing directors
may not attend the Board of Directors&#146; Meeting for the
resolution of the agenda prescribed in Paragraphs 2
through 4.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(7)</U>&nbsp;</B><U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> and the standing
directors may not attend the Board of
Directors&#146; Meeting for the resolution of the
agenda prescribed in Paragraphs 2 through 4.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;35. (Executive Officers)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;35. (Executive Officers)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(2)</U>&nbsp;<U>The executive officers shall be referred to as the
Senior Executive Vice President, Executive Vice
President, Senior Vice President and Vice President.</U></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(2)</U>&nbsp;<U>The executive officers shall consist of
positions determined by the Board of
Directors.</U></B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#060;...omitted...&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060;...omitted...&#062;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(4)</U> </B>Executive officers who do not hold the position of
standing directors of KT shall be elected by <U><B>the
President (</B><B><I>sajang</I></B><B>)</B></U> of KT, whose term of office shall
not exceed three (3)&nbsp;years.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(4)</U> </B>Executive officers who do not hold the
position of standing directors of KT shall
be elected by <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U> of KT,
whose term of office shall not exceed three
(3)&nbsp;years.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(5)</U> </B>All matters concerning the respective duties of
executive officers shall be
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(5)</U> </B>All matters concerning the respective
duties of executive officers shall be</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">determined by <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">determined by <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U></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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;36. (Advisor, etc.)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;36. (Advisor, etc.)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> may employ an Advisor or appoint
an Advisory Council in order to receive advice and
suggestions regarding important matters concerning the
operation of KT&#146;s businesses.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> may employ an
Advisor or appoint an Advisory Council in
order to receive advice and suggestions
regarding important matters concerning the
operation of KT&#146;s businesses.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;38. (Resolution and Delegation)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;38. (Resolution and Delegation)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(1)</B></U> A resolution at a meeting of Board of Directors
shall be adopted by the presence of a majority of all
directors in offices and by the affirmative votes of a
majority of the directors present. <U><B>However, the
resolution on the sale of equity in any subsidiary of
KT accompanying transfer of management shall be adopted
by affirmative votes of two-thirds (2/3) of the
directors in offices,</B></U> and the resolution on the
dismissal of the President shall be adopted by the
affirmative votes of two-thirds (2/3) of the outside
directors in offices.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(1)</B></U> A resolution at a meeting of Board of
Directors shall be adopted by the presence
of a majority of all directors in offices
and by the affirmative votes of a majority
of the directors present. <U><B>However, the
resolution on the sale of equity in any
subsidiary of KT accompanying transfer of
management rights, which is for more than 10
billion (10,000,000,000) Korean Won of the
subsidiary&#146;s equity, shall be adopted by
affirmative votes of two-thirds (2/3) of the
directors in office,</B></U> and the resolution on
the dismissal of the President shall be
adopted by the affirmative votes of
two-thirds (2/3) of the outside directors in
offices.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(2)</U> </B>The Board of Directors may delegate part of its
authorities to <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U>.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(2)</U></B> The Board of Directors may delegate part
of its authorities to <U><B>the President
(</B><B><I>hwejang</I></B><B>)</B></U>.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;46. (Preparation, Submission and Maintenance of
the Financial Statements)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;46. (Preparation, Submission and
Maintenance of the Financial Statements)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(1)</U>&nbsp;</B><U><B>The President (</B><B><I>sajang</I></B><B>)</B></U> of KT shall prepare the
following documents and supplementary documents thereto
and the business report for each fiscal year, and
submit such documents, after approved by the Board of
Directors, to the Audit
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(1)</U>&nbsp;</B><U><B>The President (</B><B><I>hwejang</I></B><B>)</B></U> of KT shall
prepare the following documents and
supplementary documents thereto and the
business report for each fiscal year, and
submit such documents, after approved by the
Board of Directors, to the Audit</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Committee, six (6)&nbsp;weeks prior
to the date of the Ordinary General Meeting of
Shareholders:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Committee, six (6)&nbsp;weeks prior to the
date of the Ordinary General
Meeting of Shareholders:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1. A balance sheet;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1. A balance sheet;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2. A statement of profit and loss; and
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2. A statement of profit and loss; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3. A statement of appropriation of retained earnings or
a statement of disposition of deficit.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3. A statement of appropriation of retained
earnings or a statement of disposition of
deficit.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(2)</U> </B>The Audit Committee shall submit an auditor&#146;s
report of the documents listed in Paragraph&nbsp;1 above to
<U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> at least one (1)&nbsp;week before the
General Shareholders&#146; Meeting.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><U>(2)</U> </B>The Audit Committee shall submit an
auditor&#146;s report of the documents listed in
Paragraph&nbsp;1 above to <U><B>the President (</B><B><I>hwejang</I></B><B>)</B></U>
at least one (1)&nbsp;week before the General
Shareholders&#146; Meeting.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(3)The President (</B><B><I>sajang</I></B><B>)</B></U> shall keep each document
listed in Paragraph (1)&nbsp;together with the business
report and the auditor&#146;s report at the head office for
a period of five (5)&nbsp;years, commencing from one week
prior to the date of the Ordinary General Meeting of
Shareholders. Certified copies of these documents shall
be kept in each respective branch office for a period
of three (3)&nbsp;years.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(3)The President (</B><B><I>hwejang</I></B><B>)</B></U> shall keep each
document listed in Paragraph (1)&nbsp;together
with the business report and the auditor&#146;s
report at the head office for a period of
five (5)&nbsp;years, commencing from one week
prior to the date of the Ordinary General
Meeting of Shareholders. Certified copies of
these documents shall be kept in each
respective branch office for a period of
three (3)&nbsp;years.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>(4)The President (</B><B><I>sajang</I></B><B>)</B></U> shall submit each document
listed in Paragraph (1)&nbsp;to the Ordinary General Meeting
of Shareholders and request approval therefor. With
respect to the business report, he/she shall report the
contents thereof to the Ordinary General Meeting of
Shareholders.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(4)The President (</B><B><I>hwejang</I></B><B>)</B></U> shall submit each
document listed in Paragraph (1)&nbsp;to the
Ordinary General Meeting of Shareholders and
request approval therefor. With respect to
the business report, he/she shall report the
contents thereof to the Ordinary General
Meeting of Shareholders.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><U>(5)</U> </B>When the approval of the General Meeting of
Shareholders is obtained for the documents listed in
Paragraph (1), <U><B>the President (</B><B><I>sajang</I></B><B>)</B></U> shall, without
delay, give a public notice of the balance sheet and
the audit opinion thereon of an independent auditor.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U><B>(5)</B></U> When the approval of the General Meeting
of Shareholders is obtained for the
documents listed in Paragraph (1), <U><B>the
President (</B><B><I>hwejang</I></B><B>)</B></U> shall, without delay,
give a public notice of the balance sheet
and the audit opinion thereon of an
independent auditor.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Before Amendment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>After Amendment</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Article&nbsp;48 (Retirement of Shares)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Article&nbsp;48 (Retirement of Shares)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Pursuant to <B><U>Article&nbsp;189 of the SEA</U></B>, KT may, by a
resolution of the Board of Directors, retire the shares
within the scope of profits attributable to the
shareholders.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pursuant to <B><U>Article (165-3) of the FSCMA</U></B>, KT
may, by a resolution of the Board of
Directors, retire the shares within the
scope of profits attributable to the
shareholders.</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>
</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>ADDENDUM (March&nbsp;27, 2009)</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"><U><B>Article&nbsp;1. (Enforcement Date) These Articles
of Incorporation shall become effective upon
resolution of the General Meeting of
Shareholders approving the amendment hereof.</B></U></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>
</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>Article&nbsp;2. (Interim Measure) The person who
is &#147;President (</B><B><I>sajang</I></B><B>)&#148; as of the amendment
date of these Articles of Incorporation will
become the &#147;President (</B><B><I>hwejang)</I></B><B>&#148;, and in
applying Article&nbsp;32(1)-2 &#147;ex-Presidents
(</B><B><I>sajang</I></B><B>)&#148; prior to the amendment date will
be interpreted as &#147;ex-Presidents </B><B><I>(hwejang)</I></B><B>&#148;.</B></U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>



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

<DIV align="left">
<A name="105"></A>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><b>&#149; Number and Classification of Voting Shares</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The record date for exercising voting rights at the Extraordinary General Meeting of Shareholders
is February&nbsp;5, 2009. As of the record date, the number of KT&#146;s total shares issued was 273,535,700
shares and the number of common shares entitled to exercise voting rights (excluding treasury
shares and shares held by an affiliate company) was 202,032,042 shares.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the provisions of the Korean Commercial Code, all agendas shall be passed by at least
two-thirds of the votes cast by the shareholders present at the meeting and at least one-third of
total shares entitled to vote.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
