Important notification - reduced tax rate applicable to non-resident investors 05-31-2012

The value of a financial company is created when the firm provides the right service
customers look for and choose to have. As your financial service provider, we would
like to notify you of the following information which is applicable only to non-resident
individuals and foreign corporations.

According to a recent revision of the Korea Tax Law, investors who wish to apply for
a reduced tax withholding rate (generally 5~15%) under the relevant tax treaty
applicable to its Korean source income, must submit an ¡°Application for Entitlement to
Reduced Tax Rate¡± to us, the withholding agent, before receipt of such income.
This will apply to withholdings made for the first time on or after July 1, 2012.
If you don¡¯t submit the above application before receiving such income, we will
withhold the domestic tax rate (generally 22%) on such income in accordance
with the Korea Tax Law. The following information is in regards to how you can apply
for the lower tax withholding rate.

1. Submit the Application for Entitlement to Reduced Tax Rate form
    in accordance with the type of beneficial owner listed below.
- Non-resident individual : Application for Entitlement to Reduced Tax Rate on
   Domestic Source Income (for Non-resident individuals)
- Foreign Corporation: Application for Entitlement to Reduced Tax Rate on
   Domestic Source Income (for Foreign Corporations)
- Collective Investment Scheme (Public, Private): Report of overseas Investment
¢Ñ If you are a collective investment scheme, please pay careful attention to
   the filing instructions.
2. Where to submit
You should submit the application to the branch that opened, or has been managing, your account.
3. How to submit
After contacting your managing branch, you may mail or fax your application
(you may submit the application via e-mail, if it is scanned with a signature).
4. When to submit
You should submit the application as soon as possible before receiving the applicable income. Submitting the application before the end of June is recommended.
5. Others
- The English forms are made available for your convenience only to help with
your filing. You should use the Korean forms for the actual submission.
- If you need more information, please visit the Korean National Tax Service website.
( or call 82-2-2076-5711.

There is not a previous writing.
Client Notification