Introduction to Yulchon LLC 2015 Yulchon LLC Copyright

Introduction to Yulchon LLC 2015 Yulchon LLC Copyright ⓒ 2015 Yulchon LLC. All Rights Reserved.

From a “Law Village” to one of Korea’s largest law firms, Yulchon LLC has continued to set the standards for excellence in legal services

Yulchon's History Foundation of the firm (known in English as Woo, Yun, Kang, Jeong & Han) 1997 2007 Formed a strategic alliance with patent firm YP Lee, Mock & Partners 2008 2009 Established Ho Chi Minh City office Changed English name to Yulchon Established Beijing office Myanmar office 2011 2012 Established Hanoi office 2014 Changed to Limited liability law firm 'Yulchon LLC' 3

Yulchon's History Growth in Number of Professionals Advisors Korean Attorneys Foreign Attorneys CPAs Tax Attorneys 26 237 48 16 12 368 Patent Attorneys 6 Customs Attorneys 7 CPLAs 2 Other Professionals 14 169 123 85 63 45 10 1997 2000 2003 2006 2008 2011 2015 4

Yulchon's Office Yulchon LLC The Textile Center Building, 12 F, 518 Teheran-ro, Gangnam-gu, Seoul 135 -713, Korea (Korea, Seoul) Tel: 02 -528 -5200 Fax: 02 -528 -5228 E-mail: mail@yulchon. com Yulchon LLC Unit 03, 4 th Floor, Kumho Asiana Plaza, 39 Le Duan St. , Ben Nghe Ward, Dist. 1, Ho Chi Minh City, Vietnam (Vietnam, Ho Chi Minh City) Tel: +84 8 3911 0225 Fax: +84 8 3911 0230 E-mail: ujahn@yulchon. com Yulchon LLC 27 th Floor, East Wing, Lotte Center Hanoi, No. 54 Lieu Giai street, Cong Vi ward, Ba Dinh district, Hanoi, Vietnam (Vietnam, Hanoi City) Tel: +84 -4 -3837 -8200 Fax: +84 -4 -3837 -8230 E-mail: ygbae@yulchon. com Yulchon LLC 1209, 12 F, South Tower C, Raycom Info. Tech Park, No. 2, Ke Xue Yuan Nan Lu, Haidian District, Beijing, 100190, P. R. China (China, Beijing) Tel: +86 -10 -8567 -0828/0768 Fax: +86 -10 -8567 -0738 E-mail : Beijing@yulchon. com Yulchon LLC Junction Square Shop House, Building No. 2, 3 rd Floor, Between Kyun Taw Road and Pyay Road, Kamayut Township, Yangon, Myanmar (Myanmar, Yangon) Tel: +95 -94 -3088 -377 E-mail: ujahn@yulchon. com 5

Accolades " Yulchon stands out as one of the most trusted law firms in Korea " " Yulchon a market leader in the development and practice of law in Korea " " Top 30 rapidly growing law firm in Asia "

Recent Awards & Rankings 2013 Firm of the Year for Employment, Litigation and Dispute Resolution, Taxation, Telecommunications, Media & Technology in South Korea 2012 Firm of the Year for Antitrust/Competition, Litigation & Dispute Resolution, Projects & Project Financing, Real Estate/Constructions in South Korea 2012, 2010 ~ 2007 Firm of the Year for Taxation in South Korea 2010 Firm of the Year for Restructuring & Insolvency, Project Finance 2014 ~ 2009 Employer of Choice 2012 Leading IP Law Firm in Korea, Leading Arbitration Law Firm in Korea 2011 ~ 2010 ALB’s Leading Tax Law Firms 2011 ~ 2009 One of the Top 50 Largest Law Firms in Asia 2011 ~ 2008 Top 30 Rapidly Growing Law Firm in Asia 2014 ~ 2002 2012 One of the Top Law Firms in the World in the Practice of Competition Law (13 consecutive years) Behavioural Matter of the Year (Asia-Pacific, Middle East & Africa) for the defense of Samsung Electronics in the TFT-LCD cartel investigation 7

Recent Awards & Rankings 2014 ~ 2011 2014 ~ 2007 Tier 1, Competition Tier 1, M&A 2014 ~ 2010 Band 1, Tax 2010 ~ 2009 Band 1, Competition/Antitrust 2014 ~ 2010 2014 ~ 2013 Tier 1, Tax Tier 1, Intellectual Property/Employment 2013 Tier 1, Competition/Antitrust 2012 ~ 2011 Tier 1, Tax 2012~2010 Tier 1, Corporate / M&A 2014 ~ 2013 Highly recommended, Banking & Finance, Capital Markets, Competition and Antitrust, Construction and Real Estate, Corporate/M&A, Dispute Resolution, Energy and Natural Resources, Intellectual Property, Labour and Employment, Restructuring and Insolvency, Shipping, Maritime and Aviation, Tax 8

Recent Awards & Rankings 2012 ~ 2008 Tier 1, Tax 2014 ~ 2013 First Tier, Tax 2010 Dynamic Firm of the Year in Korea Corporate Tax Advisory Firm of the Year in Korea 2010 Korean - Corporate Tax Law Firm of the Year 9

Recent Awards & Rankings 2014 ~ 2013 the South Korea Contentious Firm of the Year at the 8 th Managing IP Global Awards Patents Firm of the Year for South Korea 2013 Recommended Firm, IP Litigation and Licensing 2010 Outbound Investment Deal of the Year for Marfrig Alimentos’s Acquisition of Keystone Foods 10

Recent Awards & Rankings 2012 Social Contribution Award, Legal Service Contribution Sector 2010 In-house Legal Departments Select Yulchon’s Antitrust and Tax as the Best in Korea 2010 1 st in Win Rate in the Korean Supreme Court cases 2013 Korea CEO Leadership Award for Trust-based Management 2012 Lotte Shopping’s Acquisition of Hi Mart, Best Deal of the Year 11

Yulchon's Practices

Yulchon's Practices: General Antitrust Corporate/M&A Finance Corporate & Finance Real Estate & Construction Dispute Resolution Tax Outbound Intellectual Property 13

Yulchon's Practices: Corporate/M&A Yulchon’s M&A Team, with more than 100 lawyers and other experts, handles all facets of cross-border and domestic M&A transactions and consistently ranks among Korea’s top-tier practices. We represent major global corporations, financial institutions and investment funds in connection with increasingly complex M&A transactions involving Korean companies and assets. Yulchon’s Corporate Team provides comprehensive legal services regarding all fundamental corporate management and operational issues. We have extensive experiences on advising a variety of public and private entities and government institutions. Our experience gives us the confidence that we provide our clients the best corporate legal services available. 14

Yulchon's Practices: Corporate/M&A Representative Deals: M&A Client Description Hyundai Motor Group’s acquisition of Green Cross Life Insurance (KRW 228. 3 billion) Fila Korea and Mirae Asset Private Equity’s acquisition of Acushnet (USD 1. 225 billion; 2011 Deal of the Year - ASIAN-MENA COUNSEL) Honam Petrochemical’s acquisition of Titan Chemicals Corp. Bhd. (USD 1. 27 billion) Lotte Shopping’s acquisition of GS Retail’s discount store and department store businesses (USD 1. 17 billion) KT KT’s merger with KTF (USD 17 billion) Samsung Electronics' merger with Samsung Digital Imaging (USD 445 million) 15

Yulchon's Practices: Corporate/M&A Representative Deals: M&A Client Description Lotte Confectionary’s acquisition of Chocolaterie Guylian (USD 166 million) Real. Networks’ acquisition of Wider. Than (the first time a tender offer was launched in both Korea and the U. S. for a Korean company listed on the Nasdaq Global Market) Standard Chartered Bank’s acquisition of Korea First Bank (KRW 3. 4 trillion, 2005 Deal of the Year - Asian Counsel) Kookmin Bank’s merger with Housing & Commercial Bank SK Telecom’s merger with Shinsegi Telecom (KRW 11 trillion) Delphi Group's global restructuring under Chapter 11 of the U. S. Bankruptcy Code (2009 Deal of the Year - Asian Counsel) 16

Yulchon's Practices: Finance Yulchon’s Finance Team assists major foreign and domestic companies and financial institutions in offerings, global funding strategies, financings, loans, investments, and leveraged debt transactions. Our team has successfully handled a wide range of high-profile projects involving acquisition finance, asset finance, project finance, structured finance, banking and securities transactions, derivatives transactions, and securitization. Yulchon’s Finance Team is also highly regarded for its expertise and accomplishments in the area of capital markets and securities transactions, as well as in the international banking sector. 17

Yulchon's Practices: Finance Representative Deals Client Description Lotte Shopping’s issuance of CNY 750 million dim sum bonds (2011 Honorable Mentioned Deal - ASIAN-MENA COUNSEL) Lotte Shopping’s dual-listing of its shares on the London Stock Exchange and the Korea Exchange (the listing of the shares in the issue amount of KRW 3. 43 trillion, which was the largest ever in Korea and in the global retail sector) SK Telecom’s issuance of USD 330 million exchangeable bonds (the first issuance by a Korean company of foreign-denominated securities since the economic crisis triggered by the Lehman Brothers bankruptcy in late 2008) Hana Bank’s issuance of 1 billion Malaysian ringgit (MYR) bonds (the first issuance by a Korean bank of ringgit-denominated bonds) 18

Yulchon's Practices: Finance Representative Deals Client Description Gmarket’s listing of its shares on NASDAQ (the first listing by a Korean e-commerce company of its shares on NASDAQ) Shinhan Bank’s issuance of AUD 2 billon Kangaroo bonds (the first issuance of Kangaroo bonds in Korea) STX Pan Ocean’s dual-listing of its shares on the Singapore Exchange (SGX) and the Korea Exchange (the first listing by a Korean company of its shares on the SGX and the first listing of a Korean company’s shares (not in the form of depositary receipts) both in Korea and in a foreign country) Hanjin Shipping Co. Hanjin Shipping’s JPY 9 billion ship finance transaction arranged by the Korea Development Bank 19

Yulchon's Practices: Outbound Overseas Investment Yulchon is one of the first major law firms in Korea to have established practice groups focusing on overseas investments, such as Vietnam/South East Asia, Russia/CIS, Japan, China and Europe. Yulchon has in-depth knowledge of legal, economic and cultural affairs, as well as years of experience in international business transactions. This unsurpassed combination of knowledge and experience enables us to handle complex matters. In continuation of the success of our overseas investments practice, we opened offices in Ho Chi Minh and Hanoi, Vietnam and Beijing, China to better serve our clients, and we have continued to be successful in providing Korean and foreign clients with fast, efficient and value-adding advice to meet their investment needs globally. 20

Yulchon's Practices: Outbound Representative Deals Client Description Daewoo International Corporation Daewoo International’s acquisition of 85% of PT Bio Inti Agrindo in Indonesia Kia Motors’s acquisition of Kia Motors Italia in Italy Korea Resources Corporation’s USD 1. 1 Billion Canadian and Chilean mining investment Keangnam Enterprises Kyungnam Enterprises’s acquisition of Intercontinental Hotel and Hanoi Landmark Tower Hotel in Vietnam Seven major auto suppliers on USD 200 million strategic investment project to establish an industrial park with seven factories in St. Petersburg, Russia 21

Yulchon's Practices: Corporate/Finance Professionals Managing Partner Mergers & Acquisitions/ Overseas Investment Partner Finance/ Mergers & Acquisitions/ Overseas Investment Yun, Sai Ree Kang, Hee-Chul Founding partner; managing partner, Yulchon Founding partner, Yulchon Baker & Mc. Kenzie (Chicago and New York) Co-chairman of the Legal Practice Committee of (IPBA), J. D. , Hastings College of Law, University of California LL. M. , Harvard Law School LL. B. , Seoul National University Partner Finance/Real Estate/ Overseas Investment Partner Finance/ Mergers & Acquisitions/ Overseas Investment Han, Bong Hee Yoon, Hee Woong Founding partner, Yulchon Selected as leading M&A lawyer: Chambers Global Whitman & Ransom (New York) LL. M, George Washington University Law School University of Chicago, Law School, LL. M. , Seoul National University LL. B. , Seoul National University 22

Yulchon's Practices: Corporate/Finance Professionals Partner Finance/ Mergers & Acquisitions/ Real Estate Partner Finance/ Mergers & Acquisitions/ Overseas Investment Son, Doil Shin, Young-Su Foreign Legal Consultant, Arter & Hadden (CA & USA) Member, International Who’s Who Historical Society LL. M. , University of California, Los Angeles, Law School Visiting Scholar, University of Washington School of Law LL. B. , Seoul National University LL. B. , Yonsei University College of Law Partner Mergers & Acquisitions Partner Finance/ Mergers & Acquisitions/ Overseas Investment Cho, Sang Wook Shin, Young Jae LL. M. , Cornell University Law School LL. M. , University of Washington School of Law LL. B. , Seoul National University LL. B. , Yonsei University 23

Yulchon's Practices: Corporate/Finance Professionals Partner Mergers & Acquisitions/ Overseas Investment Kim, Ki Young Allen & Overy (Hong Kong) University of California, LL. M. , Berkeley Boalt Hall School of Law Partner Real Estate Shin, Tong Chan Herbert Smith LLP (Dubai) Binghan Mc. Cutchen (San Francisco) LL. M. , Seoul National University LL. M. , Northwestern University School of Law LL. B. , Seoul National University LL. M. , Seoul National University LL. B. , Seoul National University Partner Finance/ Mergers & Acquisitions Eun, Sung Wook LL. M. , New York University Law School LL. M. , Seoul National University LL. B. , Seoul National University 24

Yulchon's Practices: Corporate/Finance Professionals Senior Foreign Counsel Finance / Real Estate Senior Foreign Counsel Finance / Mergers & Acquisitions / Overseas Investment Cho, Christopher Joon Tae Yi, Tehyok Daniel Selected by Chambers Asia as a leading lawyer Orrick, Herrington & Sutcliffe LLP (Tokyo) J. D. , Loyola Law School J. D. , Harvard Law School B. A. , University of California, Los Angeles 25

Yulchon's Practices: Antitrust Yulchon's Antitrust Group has been recognized worldwide for its expertise in representing clients in various high- profile cases. We are pioneers in the field of antitrust in Korea, have substantial experience and accumulated knowledge of the relevant antitrust regulations and practices through our years of extensive experience. We have successfully represented international and domestic clients in landmark antitrust cases in Korea, including: the Air Cargo, TFT-LCD, Marine Hose cartel cases; the abuse of market dominance cases against Microsoft, Intel and Qualcomm; numerous merger control cases; and various vertical restraints and other unfair trade practice cases. We have also handled numerous deceptive advertising, privacy and other consumer protection cases. Since 2002, our antitrust team has consistently been ranked by Global Competition Review (GCR) as one of the world’s top 100 firms specializing in antitrust law and by other international publications. In 2012, we were awarded the Behavioral Matter of the Year (Asia Pacific, Middle East & Africa) by GCR for our work in the TFT-LCD matter. At Yulchon, the Antitrust Group is one of five major practice groups rather than just small part of other practice groups. While working closely with other practice groups, the Antitrust Group at Yulchon is truly a full-service, stand-alone practice group that handles both counseling and litigation, and all aspects of the cutting-edge antitrust, trade regulation and consumer protection issues in today’s global economy. In addition to Mr. Sai Ree Yun, who is universally recognized as a pioneer and one of the best lawyers in the Korean antitrust bar, Yulchon’s senior antitrust experts include former high-ranking Korea Fair Trade Commission officials (Seuk Joon Lee, Sung Hwan Oh, Soon Sik Ju and Sang Yong Park), former high-ranking judges (Hae Sik Park and Kum Ju Son) as well as a former global U. S. law firm antitrust partner and U. S. Federal Trade Commission attorney (Cecil Saehoon Chung). 26

Yulchon's Practices: Antitrust Representative Deals – Abuse of Market Dominance Client Description Represented Daum Communications and Real. Networks in a case against Microsoft, which was charged with abusing its market dominant position in the online messenger and streaming media markets DAUM, Real Networks Microsoft agreed to provide economic benefits worth USD 30 million and USD 760 million to Daum Communications and Real Networks, respectively AMD Represented AMD in a case where Intel was charged with abusing its market dominant position in the Korean CPU market, which excluded AMD from competition Intel was fined KRW 26. 6 billion (approximately USD 22. 1 million) by the KFTC Texas Instruments, Broadcom, Nextreaming, Ericsson Represented Texas Instruments, Broadcom, Nextreaming, and Ericsson in a case where Qualcomm was charged with abusing its market dominant position in the CDMA technology and chipset markets for CDMA mobile phones. Qualcomm received the largest fine, KRW 260 billion (approximately USD 221 million), ever imposed by the KFTC 27

Yulchon's Practices: Antitrust Representative Deals – Cartel Client Description Bridgestone Represented Bridgestone Corporation in an international cartel involving companies manufacturing and selling marine hose Obtained an exemption of a significant portion of the fines on behalf of Bridgestone Corporation Represented Lufthansa and Swiss International Air Lines in a price-fixing cartel case involving twenty-six international air carriers Lufthansa The biggest global cartel case in Korea to date Obtained an exemption from sanctions from the KFTC on their behalf Samsung Electronics, UPM Obtained full exemption from sanctions for Samsung Electronics in TFT-LCD global cartel investigation Represented UPM in an international cartel case involving four copy paper distributors charged with jointly increasing their paper prices 28

Yulchon's Practices: Antitrust Representative Deals – Merger Review Client Description Glencore Represented Glencore International plc before the Korea Fair Trade Commission in regard to the merger notification for its acquisition of Viterra Inc. Fila Korea Represented Fila Korea and a PEF managed by Mirae Asset Maps Asset Management in the USD 1. 225 billion acquisition of Acushnet Company from Fortune Brands Texas Instrument Represented Texas Instruments in its acquisition of National Semiconductor, an analog semiconductor manufacturing company Advised Tronox Incorporated ("Tronox Inc. ") and Tronox Limited ("Tronox Ltd. ") in connection with their respective merger filings regarding Tronox (i) the merger between Tronox Inc. and Concordia Acquisition Corporation ("Concordia"), and (ii)Tronox Ltd. ’s acquisition of Exxaro Resources Limited ("Exxaro") stocks. Tronox Ltd. acquired KRW 1. 5 trillion worth of Exxaro shares through this transaction 29

Yulchon's Practices: Antitrust Professionals Managing Partner Yun, Sai Ree Park, Hae Sik Founding partner; managing partner, Yulchon Chair of the Antitrust Group, Yulchon Baker & Mc. Kenzie (Chicago and New York) Research Judge, Korean Supreme Court J. D. , Hastings College of Law Chief Judge, Bucheon Branch of Incheon District Court LL. M. , Harvard Law School Visiting Scholar, U. C. Berkeley Law School LL. B. , Seoul National University, College of Law LL. M. and LL. B. , Korea University Senior Foreign Counsel, Partner Lee, Seuk Joon Chung, Cecil Saehoon Co-Vice Chair of Antitrust, Yulchon Co-Vice Chair of Antitrust; Head of International Antitrust, Yulchon Head of Health Care Team, Yulchon Director of Anti-Monopoly Division, Korea Fair Trade Commission Antitrust partner, Greenberg Traurig (Washington, DC) Member, Medical Device Advisory Committee, Korea Food & Drug Administration Staff Attorney, Bureau of Competition, U. S. Federal Trade Commission J. D. and MSA, Syracuse University J. D. , Cornell Law School; B. S. in Econ. , Wharton School, University of Pennsylvania Antitrust partner, Pillsbury Winthrop (Washington, DC) 30

Yulchon's Practices: Antitrust Professionals Partner Park, Sung Bom Son, Kum Ju Co-Vice Chair of Antitrust; Head of Regulatory Investigations & Compliance – Antitrust, Yulchon Deputy Head of Regulatory Investigations & Compliance – Antitrust, Yulchon Member, Cartel Advisory Committee, Korea Fair Trade Commission Judge, Seoul Administrative Court Member, Legal Advisory Group, Korea Communications Commission Member, Administrative Adjudication Commission LL. M. , UC Davis LL. B. , Yonsei University Outside Legal Advisor, Korea Communications Commission Visiting Scholar, UNC Law School; B. A. , Seoul National University Partner Kim, Kyoung Yeon Deputy Head of International Antitrust, Yulchon Cleary Gottlieb Steen & Hamilton (Hong Kong) Outside Legal Advisor, Korean Ministry of Environment LL. M. , University of Michigan, Ann Arbor LL. B. , Seoul National University, College of Law 31

Yulchon's Practices: Antitrust Professionals Senior Advisor Park, Sang Yong Ju, Soon Sik Secretary General, Korea Fair Trade Commission Ph. D, University of Liverpool Commissioner, Korea Fair Trade Commission Ph. D. , University of Hawaii MA, Seoul National University LL. M. , Korea National Open University BA, Seoul National University M. B. A. , Ajou University B. A. , Seoul National University 32

Yulchon's Practices: Real Estate & Construction Group Yulchon’s Real Estate & Construction Group has experts in a wider variety of fields who can assist clients in every major sector of the real estate and construction industries. Our knowledge of these industries and our systemic interdisciplinary approach enable us to develop innovative structures and creative solutions customized for the most complex and challenging real estate projects and disputes. As a team with broad depth and wide coverage, our Real Estate & Construction Group counsels clients on all aspects of a real estate or construction project, including the acquisition and disposition of single assets and portfolios, onshore and offshore entity formation and structuring for real estate investment, mortgage and mezzanine financing and restructuring, project finance, domestic and overseas real estate development and construction (including plant and infrastructure construction), EPC contracts, leasing, real estate joint ventures, real estate investment trusts, commercial real estate valuations, and real estate and construction-related disputes. 33

Yulchon's Practices: Real Estate & Construction Project Development and Construction Regulation Construction Acquisition, Leasing, Management and Sale of Real Estate Finance Major Practice Areas Trust Overseas Real Estate Development and Plant Construction SOC Development 34

Yulchon's Practices: Real Estate & Construction Representative Matters Client Description Miraeasset Advised Mirae Asset Global Investments in connection with acquisition of an office building located in Chicago U. S. A. The acquisition price is in the amount of $218, 000 and the deal involved acquisition financing in the amount of approximately $115, 000. Hyundai Asset Management Advised Hyundai Asset Management in connection with acquisition at an office building located in London, UK. The acquisition price is in the amount of GBP 128, 000 and the deal involved acquisition financing in the amount of approximately GBP 70, 000. Hana Daol Asset Management Advised Hana Daol Asset Management Co. , Ltd. in connection with sale of an office building located in San Francisco, U. S. A. The sale price is in the amount of $395, 250, 000. Yulchon also previously advised Hana Daol in connection with the acquisition of said office building in May 2010. KTB Asset Management Hyundai Swiss Asset Management Asia Asset Management Advised three real estate funds managed by KTB Asset Management, Hyundai Swiss Asset Management, and Asia Asset Management on their successful sale of Platinum Tower, an office building whose ownership was divided among the funds to Mirae Asset’s real estate trust in return for about 200 billion Korean Won. Platinum Tower is the prime office building with 20 ground floors and 7 basement floors (gross floor area 37, 000 m 2) located in Seoul, Korea. 35

Yulchon's Practices: Real Estate & Construction Representative Matters Client Description Morgan Stanley’s acquisition, lease-back, financing and renovation of Daewoo Center Building through a corporate restructuring real estate investment company (CR-REIT)(USD 1 billion) Hyundai Asset Management Advised Hyundai Asset Management in connection with GBP 95 million investment in the listed debt securities issued by a special purpose UK vehicle, the underlying asset of which is GBP 95 million loan claims as part of a GBP 430 million senior loan in a GBP 715 million refinancing project. The senior refinancing of GBP 430 million is secured by 612 hotels located in UK and Scotland. Major financial institutional investors, such as Deutsche Bank, HSBC, AXA and GSIC also invested in this refinancing project. KB Asset Management Advised KB Asset Management in connection with establishment of the privately-placed, real estate blind fund investing in domestic real estate, and investment in its sub-funds by Kookmin Bank, KB Insurance, KB Investment & Securities and KB Real Estate Trust. 36

Yulchon's Practices: Real Estate & Construction Professionals Partner Han, Bong Hee Park, Ju Bong Founding partner, Yulchon Whitman & Ransom (New York) University of Chicago, Law School, LL. M. , Seoul National University LL. B. , Seoul National University Served as a judge at the Daegu District Court Partner Cha, Tae Jin Jang, Young Ki Cleary Gottlieb Steen & Hamilton LLP (Hong Kong) Visiting Scholar, University of Tokyo Law School LL. M. , The University of Virginia School of Law LL. B. Korea University LL. M. , Korea University LL. B. , Seoul National University 37

Yulchon's Practices: Tax Yulchon's Tax Group is widely recognized as the best tax practice in Korea for its competency and problem-solving ability for sophisticated domestic and international tax matters. The Tax Group won the first place in the area of tax according to the survey conducted by leading Korean newspapers while the prominent global media has consistently chosen Yulchon as a firsttier firm and as the "Firm of the Year" for taxation. The Tax Group is composed of over 60 highly qualified tax attorneys and tax advisors who are recognized as leading authorities and experts in the field. The members of our Tax Group have acquired their extensive experience in the course of their practice at major law firms and accounting firms both in Korea and abroad. The Tax Group’s experts also include former government officials and renowned professors in the field of tax laws. Furthermore, based on our strong relationship with the government office, our Tax Group has been serving as a key contributor or advisor to legislative changes and has been at the forefront of the development of tax law in Korea on many cutting-edge tax issues. 38

Yulchon's Practices: Tax planning and consulting Transactional tax International taxation Transfer pricing Major Tax litigation Practice Areas Tax audit defense Customs Tax crime litigation Family business succession planning Inheritance and gift 39

Yulchon's Practices: Tax Representative Matters Client Description Seagate Tech Advised Seagate Technology in relation to the optimal structure for acquisition of Samsung Electronics' HDD business and successfully obtained the authoritative interpretation from the tax authority Korea Telecom Advised on overall tax matters in relation to the merger between KT and KTF with a combined asset value of approximately KRW 24 trillion Morgan Stanley Advised Morgan Stanley on tax matters with respect to the refinancing transaction of more than KRW 800 billion in connection with the acquisition of Seoul Square, formerly known as Daewoo Building Shinhan BNP Paribas Asset management Provided tax advice to Shinhan BNP Paribas Asset Management in relation to its real-estate private equity fund's disposal of Center 1 building in Jung-gu, Seoul, valued at approximately KRW 530 billion Samsung Electronics Represented Samsung Electronics and won a decision on cancellation of customs of approximately KRW 160 billion imposed on Multi-Chip-Package. This was the first Supreme Court decision on the issue above obtained among eight companies including Samsung Coca-Cola Successfully represented Coca-Cola in the en banc case at the Tax Tribunal regarding the imposition of the value added tax of approximately KRW 10 billion on Coca-Cola’s advertising expenses Citi Group Obtained a judgment in favor of the plaintiff, Citi Group, for all issues raised by the plaintiff regarding the imposition of securities transaction tax of KRW 6. 3 billion. It is a leading case to confirm that depository receipts are not subject to securities transaction tax 40

Yulchon's Practices: Tax Professionals Partner Soh, Soon Moo Kang, Seok Hoon Adjunct Professor, Korea University Head of Tax Training Institute, Seoul Bar Association Vice President, Korean Bar Association Member, Legal Interpretation Committee, National Tax Service Chief Judge, Seoul Central District Court Chief Judge, Seoul Western District Court Visiting Scholar of Bonn University in Germany LL. B, Seoul National University Co-Chair of Tax, Yulchon Legal Advisor, Ministry of Strategy and Finance Member of the National Tax Law Review Board, Ministry of Strategy and Finance Legal Interpreter, Office of Legislation Director, District Court Section, Legal Research Department, Supreme Court of Korea Judge, Seoul High Court Judge, Seoul Northern District Court LL. M. , Georgetown University Law School Partner LL. B. , Seoul National University Kim, Dong Soo Co-Chair of Tax, Yulchon Consultant, Korea Institute of Public Finance Policy Advisor to the Minister, Ministry of Public Administration and Security Legal Advisor, Jungbu Regional Tax Office "Leading Tax Attorney" for two consecutive years by Asia. Law LL. M. , University of Florida, Gainesville LL. B. , Seoul National University 41

Yulchon's Practices: Tax Professionals Senior Tax Attorney, Partner Senior Foreign Counsel, Partner Lee, Kyung Geun Ahn, Soo-Jeong Member, Appraisal Board, Prime Minister’s Office Committee on Tax Adjustment for International Trade Prices, Ministry of Strategy and Finance International Centre for Settlement of Investment Disputes, World Bank Head of the Tax Department, Ministry of Strategy and Finance Vice-Chairman, UN Tax Expert Convention Head of the International Tax Department, Ministry of Strategy and Finance B. A. , Seoul National University Citibank Korea Inc. , Seoul, Korea Kim & Chang Law Offices, Seoul, Korea Shearman & Sterling, New York, U. S. A. Morgan, Lewis & Bockius LLP, New York, U. S. A. J. D. , New York University School of Law, U. S. A. LL. M. , New York University School of Law, U. S. A. , Senior Customs Attorney, Partner Jung, Un Sang Screening Division, Seoul Main Customs National Tax Tribunal, Ministry of Strategy and Finance Korea Customs Service 42

Yulchon's Practices: IP Intellectual Property Group The IP Group focuses on each client’s business strategies in combination with the particular technologies of a relevant industry to provide tailored legal services in relation to litigation, arbitration, licensing, negotiations, strategic counseling, and compliance. The IP Group is experienced in all aspects of IP related issues under Korean law, as well as international IP dispute resolution management. Working in cooperation with Yulchon's Antitrust Group, the IP Group also provides clear guidance to clients on issues that arise at the intersection of the Korean Intellectual Property Act and Korean Fair Trade Act. The IP Group consists of legal professionals having a vast amount of experience and knowledge in all aspects of intellectual property, technology, and industry. These professionals include former judges (civil courts and patent court), Intellectual Tribunal judges, KIPO patent examiners and directors, government litigation attorneys, in-house counsel, engineers, and researchers. The attorneys and patent attorneys of the IP Group have degrees in electronic engineering, mechanical engineering, chemical engineering, computer science, pharmacy, civil, urban and geo-systems engineering, and naval architecture and ocean engineering. Asian Legal Business (ALB), a division of Thomson Reuters, selected Yulchon as one of two leading firms in Korea in its Asia Intellectual Property Ranking. The ALB described Yulchon as a fast growing law firm, and introduced the litigation between Apple and Samsung Electronics regarding patent/design infringement and unfair competition as a representative deal, wherein Yulchon represented Samsung Electronics. 43

Yulchon's Practices: IP Patent / Utility Model Design Trademark Copyright (including computer programs) Trade Secrets Major Unfair Competition Practice Entertainment (Celebrities / Sports / Movies etc. ) Areas IP Risk Management (IP Compliance) Intellectual Property Survey / Evaluation Intellectual Property License / Transaction International Dispute Management Protection of Personal Information (Privacy) 44

Yulchon's Practices: IP Representative Matters Client Description Represented Samsung Electronics in a dispute with Apple relating to allegations of patent and design infringement, and unfair competition Patent/Utility Model Represented Samsung LED in a dispute with Osram relating to patent infringement and invalidation in LED technology Represented Daewoong Pharmaceutical seeking a preliminary injunction against patent infringement, patent invalidation trial and criminal case in pharmaceutical technology Design Represented LG Electronics in a design infringement litigation relating to mobile phone packaging box design Trademark Represented KT in litigation relating to prohibition of use of trade name, trademark, etc Copyright (including computer programs) Represented Nuance in a dispute relating to voice recognition software copyright infringement 45

Yulchon's Practices: IP Representative Matters Client Description Represented Company "D", alleged to have misappropriated trade secrets relating to LCD, in an action for damages and injunction Trade Secrets Advised foreign Companies "B" and "U" in regard to trade secret systems and processes for entrance into the Korean market Represented Danone in a dispute with a Korean company relating to unfair competition Unfair Competition Entertainment (Celebrities/Sports/Movies etc. ) IP Risk Management (IP Compliance) Represented Oracle in unfair competition litigation between a Korean company and Oracle Represented SM Entertainment in litigation to confirm the effect of an exclusive agreement Implemented a company-wide compliance system to protect intellectual property and information for a Korean conglomerate "K. " 46

Yulchon's Practices: IP Professionals Partner Choe, Jeong Yeol Kim, Cheol Hwan Apple Inc. v. Samsung Electronics, supporting attorney Licensing issues between Merck and Hanhwa, represented Hanhwa Osram v. Samsung Electronics, lead attorney Dongbang Shingee v. SM Entertainment, lead attorney for SM Judge for 21 years (civil courts and patent court) Judge for 12 years (civil courts and patent court) Visiting Scholar , Duke Law School, NC, LL. B. , Hanyang University, Visiting Scholar, George Washington University Law School LL. B. , Seoul National University, 47

Yulchon's Practices: IP Professionals Partner Senior Foreign Counsel Han, Dong Soo Lee, Samuel Sung. Mok Judge for 16 years (civil courts and patent court) Samsung Electronics Co. , Ltd. , Senior Legal Counsel Research Fellow (unfair competition & trademark Dergosits & Noah LLP, Partner Columbia University Baker Botts LLP, Associate LL. B. , LL. M. , Seoul National University, The Procter & Gamble Co. , Counsel J. D. , University of San Francisco, School of Law B. S. , University of California, Los Angeles, (Chemical Engineering with biology emphasis) 48

Yulchon's Practices: Dispute Resolution Group Yulchon's Dispute Resolution Group is one of the very few in Korea equally able to provide top-notch, winning legal service in both domestic litigation and international dispute resolution. With an established reputation for success in both domestic and international disputes and a team of seasoned domestic and foreign litigators and arbitration practioners, the Dispute Resolution Group is well-equipped to meet clients’ dispute resolution needs both here and abroad—and is uniquely positioned to handle the increasingly common multijurisdictional disputes that arise in international business. Led by partners with decades of experience as judges and prosecutors, Yulchon’s Domestic Litigation Team has been repeatedly named the first choice among Korean law firms for high-value domestic litigation and has forged an unparalleled track record of success. According to a 2010 survey, Yulchon had by far the highest litigation success rate of the nine largest law firms in Korea, both overall and specifically in civil, administrative, and patent cases. Moreover, Yulchon has been praised for its ability to get unfavorable decisions overturned on appeal. Indeed, the Financial News has labeled Yulchon's Domestic Litigation Team as "the 'go-to' team for those feeling unsatisfied with and wronged by unfair outcomes of legal proceedings. " Yulchon's International Dispute Resolution (IDR) Team has established an equally impressive reputation, becoming a firm of choice for the clients. Consisting of attorneys qualified not only in Korea, but also in other jurisdictions, the IDR Team has handled international arbitration cases under the rules of many international arbitration institutions such as the ICC, ICDR, SIAC, CIETAC and SRIA as well as the UNCITRAL rules. The IDR Team has also routinely handled numerous litigation cases foreign clients before the Korean court as well as litigation cases for Korean clients before many foreign courts. . It is no wonder the Joong. Ang Monthly declared, "With its sizeable pool of multilingual lawyers seasoned in cross-border issues, Yulchon’s IDR Team is more competitive than any other. " 49

Yulchon's Practices: Dispute Resolution Administrative Dispute Resolution Alternative Dispute Resolution Complex Commercial Dispute Resolution Major Constitutional Law Practice Areas Construction & Real Estate Development Employment & Labor Environment Dispute Resolution Family Dispute Resolution 50

Yulchon's Practices: Dispute Resolution Financial Services Dispute Resolution Insolvency & Restructuring International Dispute Resolution Major Internal Investigations & White Collar Criminal Defense Practice Areas Maritime-Marine Dispute Resolution Medical & Pharmaceutical Dispute Resolution Real Estate Trust Dispute Resolution Securities Dispute Resolution 51

Yulchon's Practices: Dispute Resolution Representative Deals Client Description Yongin City Represented Yongin City in an ICC arbitration case against Yongin Rapid Transit Co. , Ltd. , an SPC established by a consortium led by Canada-based Bombardier Transportation, over the construction of a billion-dollar light rail transit system from Yongin City to Suwon City Kookmin Bank Successfully defended Kookmin Bank in cases brought by the Korean government against Korea Lottery Systems (KLS) and Kookmin Bank claiming they had breached their fiduciary duties as Lotto trustees and by KLS against Kookmin Bank and the Korean government for lowering the fees paid to KLS for administering the Lotto Industrial Bank of Korea (IBK) Successfully defended Industrial Bank of Korea (IBK) in a case brought by ABN Amro Bank in Netherlands and the Bank of China against IBK for IBK’s alleged non-performance of obligations under a comfort letter Lotte Shopping Represented Lotte Shopping in a multi-suit litigation with Changwon City, which had opposed the launch of a Lotte Mart in Changwon for a decade, obtaining an order compelling the city to grant Lotte a construction permit 52

Yulchon's Practices: Dispute Resolution Representative Deals Client Description Hyundai Engineering & Construction Successfully defended the officers of Hyundai Engineering & Construction against claims brought by the Korea Deposit Insurance Company using a novel theory about debt-to-equity swaps in the corporate workout process a Korean construction company with extensive overseas operations Defended a Korean construction company with extensive overseas operations in a KCAB arbitration over contractual liability for an unfinished skyscraper in Southeast Asia. SK Securities and Jeil Investment Trust Represented SK Securities and Jeil Investment Trust in a dispute over offshore funds and TRS transactions between SK Securities, JP Morgan, and others, successfully obtaining a preliminary injunction that eventually led to the favorable settlement of a 300 million USD U. S. federal lawsuit among the parties Yahoo Successfully represented a subsidiary of Yahoo against claims that the company should be liable for wrongful website "clicks" by users. 53

Yulchon's Practices: Dispute Resolution Professionals Partner Park, Hai Sung Kim, Tae Hyeon Co-head of Dispute Resolution Group, Yulchon Served as the chief judge at the Suwon and the Daejeon District Court Served as the chief research judge at the Supreme Court Served as a judge at various courts; Seoul, Gangneung, Chuncheon Visiting Scholar, U. C. Berkeley Law School LL. M. , Seoul National University LL. B. , Seoul National University Co-head of Dispute Resolution Group, Yulchon Partner Yoon, Yong Sup Park, Kwang Bin Co-head of Dispute Resolution Group, Yulchon Served as the Chief of the Constitutional Research Staff Director of the Forensic and Narcotic Division for the Supreme Public Prosecutor’s Office for the Constitutional Court of Korea Served as a prosecutor at various districts; Seoul, Incheon, Kyungjoo and Daejeon Trained in law at Hastings College of the Law, San Francisco LL. M. , Columbia Law School LL. M, Seoul National University LL. B, Seoul National University Served as a head of various departments for the Supreme Prosecutor’s Office Served as a chief public prosecutor for Busan and Ulsan LL. B, Seoul National University 54

Yulchon's Practices: Dispute Resolution Professionals Partner Yun, Hong Kun Served as a judge in many Korean courts; Seoul, Daejeon and Chungu Senior Foreign Counsel Chairs the International Dispute Resolution Practice at Yulchon Lee, Young Seok LL. B, Seoul National University Head of International Dispute Resolution Practice, Yulchon Dispute Resolution Leader, Chambers Global Leading Dispute Resolution Lawyer, Asia. Law Insurance Leader, Chambers Asia LL. M. University of Illinois at Urbana/Champaign Law School LL. B, Seoul National University Partner Lee, Sang Min Cho, Jeong Cheol Served as a judge at various courts; Seoul , Suncheon, Gwangju, Cheongju, Bucheon and Incheon Served as a public prosecutor for 19 years Visiting Scholar, E. M. N. in France MBA, Korea University, Visiting Scholar, U. C. Berkeley, School of Law Max Planck Institute for a international crime law LL. B, Seoul National University LL. B. , Seoul National University 55

Yulchon's Practices: Dispute Resolution Professionals Partner Moon, Il Bong Chung, Tae Hak Served as a judge on various courts; Uijeongbu, Seoul, Gunsan and Jeonju Ph. D. Candidate, Seoul National University LL. M. , Seoul National University LL. B. , Seoul National University of Washington LL. B. , Seoul National University Partner Kim, Sae Youn Vice-head of International Dispute Resolution Practice, Yulchon Cravath, Swaine & Moore (New York) New York University School of Law University of California, Los Angeles 56

Yulchon's Practices: Dispute Resolution Professionals Partner Yeom, Yong Pyo Kim, Tae Kun Served as a prosecutor at various districts Served as a judge for seven years LL. M. candidate, University of California Berkeley LL. B. , Seoul National University LL. M. , Seoul National University LL. B. , Seoul National University 57

Thank you Yulchon LLC China, Beijing The Textile Center Building, 12 F, 518 Teheran-ro, Gangnam-gu, Seoul 135 -713, Korea Tel: 02 -528 -5200 Fax: 02 -528 -5228 E-mail: mail@yulchon. com 1209, 12 F, South Tower C, Raycom Info. Tech Park, No. 2, Ke Xue Yuan Nan Lu, Haidian District Beijing, 100190, P. R. China Tel: +86 -10 -8567 -0828/0768 Fax: +86 -10 -8567 -0738 E-mail : Beijing@yulchon. com Vietnam, Ho Chi Minh City Myanmar, Yangon Unit 03, 4 th Floor, Kumho Asiana Plaza, 39 Le Duan St. , Ben Nghe Ward, Dist. 1, Ho Chi Minh City, Vietnam Tel: +84 8 3911 0225 Fax: +84 8 3911 0230 E-mail: ujahn@yulchon. com Junction Square Shop House, Building No. 2, 3 rd Floor, Between Kyun Taw Road and Pyay Road, Kamayut Township, Yangon, Myanmar Tel: +95 -94 -3088 -377 E-mail: ujahn@yulchon. com Vietnam, Hanoi City 27 th Floor, East Wing, Lotte Center Hanoi, No. 54 Lieu Giai street, Cong Vi ward, Ba Dinh district, Hanoi, Vietnam Tel: +84 -4 -3837 -8200 Fax: +84 -4 -3837 -8230 E-mail: ybae@yulchon. com