Kosdaq Announces Appointment Of Managing Director

The Kosdaq Stock Market, Inc. announced today that Mr. Sangho Bae has been appointed as Managing Director with immediate effect, following the approval of the General Meeting of Shareholders held on June 20, 2001. Having worked at the Korea Securities Exchange (KSE) for over 25 years, Mr. Bae will be in charge of market operations- market service, issuer service, disclosure, and the Third Market.

Prior to his current appointment as Managing Director, Mr. Bae served as Director of Dispute Settlement at KSE. Before taking on responsibilities in dispute settlement, he served as Director of Listing & Disclosure Department for two years. Mr Bae began his career at KSE. From 1988 to 1994, he held Senior Manager and General Manager positions in the Listing Department.

The Kosdaq Stock Market was established in 1996 as South Korea's market for SMEs and venture firms. It lists 616 companies with a market capitalization of USD 35 billion. For more information about Kosdaq, visit the Kosdaq Website at www.kosdaq.or.kr.