Cancellation of Existing Treasury Shares in Korea - Government Likely to Provide a GRACE PERIOD

• The Korean government may not force the listed companies to suddenly cancel all their treasury shares all at once.

• Rather, a GRACE PERIOD is likely to be given for companies with existing treasury shares by which they need to cancel them.

• Going forward, the Korean government is likely to decide to allow acquisition new of treasury stocks only when the purpose is to cancel them, excluding bonus payments or stock compensation.