KDnet Co., Ltd.

Thanks for joining us. I am the CEO of Korea Digital Network (KDnet), Lee Baik Sun.
I would li
ke to express my gratitude to our customers and the Internet users for their warm support and continued attention.

Si
nce it's inception as Korea Telecom Card (KT Card), a subsidiary of KT, in 1990, KDnet has played a pivotal role in the international as well as the domestic card markets. Our business began with phone cards to gradually encompass prepaid cards, RF traffic cards, multipurpose cards, and electronic cash among others.

In line with the Government's privatization policy of
state-owned companies, KT Card changed its name to Korea Digital Network (KDnet) in October 1999. We are in the process of transforming ourselves into a veritable communications and IT network services provider for the 21st century.

The 21st c
entury that is unveiling in front of us is drawing the world together ever closer into a single telecommunications and Internet-based world. In the meantime, the information technology sector in Korea is growing rapidly at an unprecedented rate. We are living at a time where such changes called new technological advances and countermeasures.

In response to the trend, K
Dnet is undertaking multimedia terminal (WebTel)-oriented network service projects in order to provide various services for every user which are accessible regardless of the limitations of time, location and scope of access.

In addition, techno
logical advances of network equipments are being enhanced at a rapid pace due to the progress of the Internet and the emergence of growing needs on the part of the users. In order to accommodate such demands, we are providing common carriers with telecommunications equipments developed by in-house technologies in tandem with our partners abroad, contributing to the expansion of information super-highway market.