Execution Copy

THE EXPORT-IMPORT BANK OF KOREA

as Issuer

and

DEUTSCHE BANK AG, TAIPEI BRANCH

as Lead Manager

BANK OF TAIWAN FUBON SECURITIES CO., LTD. KGI BANK PRESIDENT SECURITIES CORP. SHANGHAI COMMERCIAL & SAVINGS BANK, LTD. SINOPAC SECURITIES CORP. TAIPEI FUBON COMMERCIAL BANK CO., LTD. TAISHIN INTERNATIONAL BANK

as Co-managers

SUBSCRIPTION AGREEMENT in respect of US$400,000,000 Floating Rate Notes due 2023

THE EXPORT-IMPORT BANK OF KOREA US$25,000,000,000 Global Medium Term Note Programme

[SEOUL 13211_2] THIS AGREEMENT is made on 12 March 2018 AMONG:

(1) THE EXPORT-IMPORT BANK OF KOREA (the “Issuer”);

(2) DEUTSCHE BANK AG, TAIPEI BRANCH (the “Lead Manager”); and

(3) BANK OF TAIWAN, FUBON SECURITIES CO., LTD., KGI BANK, PRESIDENT SECURITIES CORP., SHANGHAI COMMERCIAL & SAVINGS BANK, LTD., SINOPAC SECURITIES CORP., TAIPEI FUBON COMMERCIAL BANK CO., LTD. and TAISHIN INTERNATIONAL BANK. (the “Co-managers” and, together with the Lead Manager, the “Managers”).

WHEREAS

(A) The Issuer has entered into an amended and restated dealer agreement dated 13 May 2016 (the “Dealer Agreement”) with the Dealers named therein respect of the Issuer’s US$25,000,000,000 Global Medium Term Note Programme (the “Programme”). All terms with initial capitals used herein without definition have the meanings given to them in the Dealer Agreement.

(B) The Issuer proposes to issue US$400,000,000 aggregate principal amount of its floating rate notes due 2023 (the “Notes”), which expression, where the context so admits, shall include the Global Notes to be delivered in respect thereof, and the Managers wish to subscribe such Notes, on a firm commitment basis, at the Subscription Price (as defined in clause 3.1 of this Agreement). Definitive Notes, if any, will be in registered form in minimum denominations of US$200,000 with integral multiples of US$1,000 in excess thereof. The Notes priced on 8 March 2018.

(C) The Notes which are offered and sold outside the United States to non-U.S. persons in reliance on Regulation S will be represented by beneficial interests in global certificate (the “Unrestricted Global Certificate”), in registered form, without coupons attached. The Unrestricted Global Certificate for the Notes will be deposited with Deutsche Bank AG, London Branch as common depositary (the “Common Depositary”) for Euroclear and Clearstream, Luxembourg and registered in the name of BT Globenet Nominees Limited as nominee for the Common Depositary on or about the Closing Date (as defined below).

(D) Dual applications will be made by the Issuer to the Taipei Exchange (the “TPEx”) in the Republic of China (“ROC”) and the Singapore Exchange Securities Trading Limited (the “SGX”) in Singapore for the listing and trading of the Notes on the TPEx and the SGX, respectively. The Notes have not been, and shall not be, offered, sold or resold, directly or indirectly, to investors other than “professional institutional investors” as defined under Paragraph 2, Article 4 of the Financial Consumer Protection Act of the ROC and as detailed in Annex 1 (“Professional Institutional Investors”), subject to the terms of this Agreement. Purchasers of the Notes are not permitted to sell or otherwise dispose of the Notes except by transfer to a Professional Institutional Investor.

IT IS AGREED as follows:

1. APPOINTMENT

1.1 In accordance with Clause 13.3 of the Dealer Agreement, the Issuer appoints each Manager (the “New Dealer”) as Dealer under the Dealer Agreement for the purposes of the issue of the Notes only and not for any other Tranche or Series under the Dealer Agreement. Each New Dealer 2

[SEOUL 13211_2] accepts its appointment under the Dealer Agreement and each New Dealer is hereby vested with all the authority, rights, powers, duties and obligations of a Dealer under the Dealer Agreement as if each New Dealer had originally been named a Dealer in the Dealer Agreement as set out in Clause 13.3 thereof, provided that following the Issue Date (as defined in clause 2.3 of this Agreement) each New Dealer shall have no further such authority, rights, powers, duties or obligations except for any which have accrued or been incurred prior to, or in connection with, the issue of the Notes. This Agreement shall, in relation to each New Dealer, be deemed to constitute each New Dealer’s confirmation and agreement to perform and comply with the duties and obligations assumed by it under the Dealer Agreement on the terms set out in this Agreement.

1.2 The Issuer hereby appoints the Lead Manager as the liquidity provider for providing quotations in respect of the Notes in accordance with Article 24-1 of the Taipei Exchange Rules Governing Management of Foreign Currency Denominated International Bonds (the “Rules”) and other relevant regulations, and the Lead Manager hereby accepts such appointment and agrees to act as the liquidity provider in accordance with the Rules and other relevant regulations. The Lead Manager represents and undertakes that it has obtained, or will before the Issue Date obtain, all licenses, consents, approvals, authorisations, orders and clearances of all regulatory authorities required for it to provide such services.

1.3 The Issuer hereby appoints the Lead Manager as filing agent in the ROC in respect of the Notes, and the Lead Manager agrees that it will act as filing agent for the Issuer and assist the Issuer in (i) making the required reporting to the Central Bank of the Republic of China (Taiwan) (the “CBC”), (ii) filing with the TPEx in connection with the listing and trading of the Notes on the TPEx and (iii) submitting this Agreement and other documents as required by the Taiwan Securities Association (the “TSA”) for approval of recordation of this Agreement.

2. ISSUE OF THE NOTES

2.1 Dealer Agreement The Notes shall be issued pursuant to Clause 2.2 of the Dealer Agreement and on the terms of Clauses 3, 5 to 10 (but not 9.1), 12, 13.2, 14, 16, 17, 18 and 19 of the Dealer Agreement as modified by this Agreement. Unless otherwise defined in this Agreement, terms defined in the Dealer Agreement shall have the same meaning in this Agreement. References in the Dealer Agreement to “Notes” and “Dealers” shall be construed as references to the Notes and the Managers, respectively, for the purposes of this Agreement.

2.2 The Notes The Notes shall be in the form and have the terms set out in Schedule 1 Part D to the Agency Agreement as supplemented by the pricing supplement (the “Pricing Supplement”) dated the date of this Agreement relating to the Notes. The Issuer confirms it has prepared copies of the offering circular dated 12 May 2017 as supplemented by the Pricing Supplement (together, the “Offering Circular”), which it authorises the Managers to distribute in sufficient copies in connection with the offering and sale of the Notes.

2.3 Agreement to Issue Subject to the terms and conditions of this Agreement, the Issuer agrees to issue the Notes on 22 March 2018 (the “Closing Date”) or such later date as the Issuer and the Managers may agree (the “Issue Date”). The Notes shall be issued at the issue price of 100.00 per cent. of their principal amount (the “Issue Price”).

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[SEOUL 13211_2] 2.4 Publicity The Issuer confirms the arrangements made on its behalf by the Lead Manager for announcements in respect of the Notes to be published on such dates and in such publications as it may agree with the Lead Manager.

3. AGREEMENT BY THE MANAGERS

3.1 Subscription The Managers severally but not jointly agree that they shall subscribe, on a firm commitment basis, for the principal amount of the Notes set out against its name as its underwriting commitment in Schedule 1 hereto on the Issue Date, on the terms set out herein, at a subscription price of 99.75 per cent. of the principal amount of the Notes (the “Subscription Price”), being the Issue Price less the Underwriting Commission.

3.2 Agreement Among Managers

The execution of this Agreement by or on behalf of the Managers will constitute the acceptance by each Manager of the International Capital Market Association Standard Form Agreement Among Managers Version 1 (the “AAM”). The Managers further agree that references in the AAM to the “Lead Manager”, the “Joint Bookrunners” and the “Settlement Lead Manager” shall mean the Lead Manager and the “Managers” shall mean the Managers. The Managers agree as between themselves to amend the AAM as follows:

(a) in Clause 1, the phrase “as agent of the Issuer” shall be deemed to be deleted;

(b) in Clause 3, the term “Lead Manager” shall be deemed to refer to the Settlement Lead Manager;

(c) the following sentence shall be deemed to be added to the end of Clause 3(2):

“In addition, any profits incurred by the Settlement Lead Manager as a result of any action taken pursuant to this Clause shall be shared among the non-defaulting Managers (including the Settlement Lead Manager) in proportion to their Commitments or on such other basis as the Settlement Lead Manager considers, in its absolute discretion, to be fair.”;

(d) Clause 7 shall be deemed to be deleted in its entirety and replaced with the following:

“The Managers agree that any fees and expenses that are the joint responsibility of the Managers and payable by the Managers, and any out-of-pocket expenses that are the joint responsibility of the Managers and reimbursable but not reimbursed by the Issuer, shall be aggregated and allocated among the Managers pro rata to their respective Commitments and each Manager authorises the Settlement Lead Manager to charge or credit each Manager’s account for its proportional share of such fees and expenses.”; and

(e) Clause 8 shall be deemed to be deleted in its entirety; and

(f) the definition of “Commitments” shall be deleted in its entirety and replaced with the following:

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[SEOUL 13211_2] ““Commitments” means, (i) for the purposes of Clauses 3, 6, 7 and 10, the fee allocation proportion paid or to be paid to each of the Managers under the Subscription Agreement and any related fee letters or, if such fee allocation is not known at the relevant time, the amounts severally underwritten by the Managers as set out in the Subscription Agreement, and (ii) for the purposes of all other clauses of this agreement, the amounts severally underwritten by the Managers as set out in the Subscription Agreement.”

Where there are any inconsistencies between this Agreement and the AAM, the terms of this Agreement shall prevail.

4. CONDITIONS PRECEDENT

4.1 Dealer Agreement Clause 9.2 of the Dealer Agreement shall apply to the issue and subscription of the Notes.

4.2 Additional Conditions Precedent The obligation of the Managers to subscribe the Notes is further conditional upon the following:

4.2.1 (a) neither the Issuer nor any of its subsidiaries or branches shall have sustained since the date of the latest audited financial statements set out in the Offering Circular any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labour dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Offering Circular, and (b) since the respective dates as of which information is given in the Offering Circular there shall not have been any material change in the capital stock, reserve for loan losses or long-term debt of the Issuer or any of its subsidiaries or any change, or any development involving a prospective change, in or affecting the general affairs, management, financial position, shareholders’ equity or results of operations of the Issuer and its subsidiaries, otherwise than as set forth or contemplated in the Offering Circular, the effect of which, in any such case described in (a) or (b) above, is in the judgment of the Lead Manager so material and adverse as to make it impracticable or inadvisable to proceed with the issue of the Notes on the terms and in the manner contemplated herein;

4.2.2 there shall not have occurred any of the following on or after the date hereof: (a) a suspension or material limitation in trading in securities generally on the New York Stock Exchange, the London Stock Exchange or the Singapore Exchange Securities Trading Limited (“SGX”); (b) a general moratorium on commercial banking activities in New York, the United Kingdom or the Republic of Korea or the ROC declared by the relevant authorities; (c) a change or development involving a prospective change in the United States, the United Kingdom or the Republic of Korea or the ROC taxation affecting the Issuer, the Notes or the transfer thereof or the imposition of exchange controls by the United States, the United Kingdom or the Republic of Korea; (d) the outbreak or escalation of hostilities involving the United States, the United Kingdom or the Republic of Korea or the ROC, or the declaration by the United States, the United Kingdom or the Republic of Korea or the ROC of a national emergency or war, if the effect of any such event in the judgment of the Lead Manager make it impracticable or inadvisable to proceed with the offering or the delivery of the Notes on the terms and in the manner contemplated in the Offering Circular; or (e) the occurrence of any material adverse

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[SEOUL 13211_2] change in the existing financial, political or economic conditions in the United States, the United Kingdom or the Republic of Korea or the ROC or elsewhere which, in the judgment of the Lead Manager would materially and adversely affect the financial markets or the market for the Notes and other debt securities;

4.2.3 the approval from the SGX for the listing of the Notes on the SGX shall have been granted (or the Lead Manager have been reasonably satisfied that such approval will be granted);

4.2.4 the completion of the reporting of the offering and issue of the Notes to the CBC by the filing agent;

4.2.5 the TSA having approved the recordation of this Agreement upon submission by the filing agent;

4.2.6 the approval from the TPEx for the listing of the Notes on the TPEx shall have been granted (or the Lead Manager has been reasonably satisfied that such approval will be granted); and

4.2.7 the delivery to the Managers on the Issue Date of such conditions precedent as the Lead Manager may reasonably require.

5. CLOSING

Against the delivery of the Unrestricted Global Certificate, the Managers shall pay or cause to be paid to the Issuer the Subscription Price in the amount of US$399,000,000. Such payment shall be made by the Common Depositary on behalf of the Managers, in U.S. dollar in same day settlement funds to such account as shall be notified by the Issuer to the Managers, evidence of such payment taking the form of a confirmation by the Common Depositary that it has made the relevant payment to the Issuer.

6. COMMISSION

The Issuer shall pay to the Managers a combined management and underwriting commission of 0.25 per cent. of the principal amount of the Notes being US$1,000,000 (the “Underwriting Commission”), which shall be allocated among the Managers in accordance with Schedule 1 of this Agreement.

7. REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

7.1 The Issuer undertakes to apply the net proceeds from the sale of the Notes as described in the Pricing Supplement the under the heading “Use of Proceeds.”

7.2 Each of the Managers hereby represents and warrants to, and agrees with, the Issuer, that:

7.2.1. all licences, consents, approvals, authorisations, orders and clearances of all regulatory authorities required by the Managers, including without limitation the TSA for or in connection with the distribution, selling and/or underwriting of the Notes and the compliance by the Managers with the terms of any of the foregoing have been obtained and are in full force and effect; and

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[SEOUL 13211_2] 7.2.2. the Underwriting Commission payable to it may not be repaid or refunded by it by any means or in any form to the Issuer or its related parties or their designated persons.

7.3 Solely for the purposes of the requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:

7.3.1. each of the Issuer and the Managers that are subject to the Product Governance Rules (each a “Manufacturer” and together “the Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Offering Circular in connection with the Notes; and

7.3.2. the Managers note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Notes by the Manufacturers and the related information set out in the Offering Circular in connection with the Notes.

8. EXPENSES

8.1 The Lead Manager shall bear and pay (together with any applicable value added tax or similar tax) all fees and expenses, other than those listed in clause 8.2 of this Agreement, incurred in or in connection with the initial delivery of the Notes, this Agreement and the Pricing Supplement prepared in connection with the issue of the Notes, including (a) any stamp taxes on this Agreement in accordance with the Stamp Tax Act of the ROC, (b) all fees and expenses of Cleary Gottlieb Steen & Hamilton, international counsel as to English law, (c) all fee and expenses of Shook Lin & Bok LLP, listing agent, and a one-time fee (comprising the fixed listing fee and the processing fee) for the initial listing of the Notes on the SGX (but not any ongoing or recurring fees or expenses in connection with the maintaining the listing of the Notes) and (d) one-time fee for the initial listing of the Notes on the TPEx (but not any ongoing or recurring fees or expenses in connection with the maintaining the listing of the Notes).

8.2 Notwithstanding clause 8.1 of this Agreement, the Issuer shall bear and pay (together with any applicable value added tax or similar tax) ongoing or recurring fees or expenses, including (a) those related to maintaining the listing of the Notes on the SGX and the TPEx and (b) any ongoing fees and expenses of the Fiscal Agent, the Paying Agent and any other agents appointed under the Agency Agreement in relation to the performance of their duties under the Agency Agreement.

9. COMMUNICATIONS

The telephone number, fax number and address of the Managers for the purposes of Clause 14 of the Dealer Agreement are:

Deutsche Bank AG, Taipei Branch 10F, 296, Jen-Ai Road Sec. 4 Taipei 106, Taiwan Republic of China

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[SEOUL 13211_2] Fax: +886-2-2192-4180 Attention: Angela Chen

Bank of Taiwan No. 120, Section 1, Chongqing South Road Taipei City 100, Taiwan Republic of China

Fax: +886-2-2381-8773 Attention: Ron Lai

Fubon Securities Co., Ltd. 2F&15F., No.169, Sec. 4, Ren' ai Rd., Da' an Dist. Taipei City, Taiwan Republic of China

Fax: +886-2-8771-6685 Attention: Nick Lee / Teresa Hsueh

KGI Bank 8F, No.125, Sec.5, Nanjing E. Road., Songshan Dist. Taipei City 10504, Taiwan Republic of China

Fax: +886-2-2749-3930 Attention: Eric Liu

President Securities Corp. 2F, No. 8, Dongxing Rd., Songshan Dist. Taipei City 105, Taiwan Republic of China

Fax: +866-2-2746-3694 Attention: Yu Cheng Lin

Shanghai Commercial & Savings Bank, Ltd. 3F, No. 2, Min Chuan E. Rd., Sec 1 Taipei, Taiwan Republic of China

Fax: +886-2-2567-7014 Attention: John Hung

SinoPac Securities Corp.

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[SEOUL 13211_2] 5F, No. 306, Sec. 2, Bade Rd. Taipei 104, Taiwan Republic of China

Fax: +886-2-8772-6609 Attention: Yichun Hsiao

Taipei Fubon Commercial Bank Co., Ltd. No.169, Sec. 4, Ren’ai Rd., Da’an Dist. Taipei, Taiwan Republic of China

Fax: +886-2-2778-3065 Attention: Simon Kuo

Taishin International Bank 10F., No.118, Sec. 4, Ren-ai Rd., Da-an District Taipei City 106, Taiwan Republic of China

Fax: +886 2 3707-6637 Attention: Kenneth Chou / Webb Su / Rex Pan

10. SELLING RESTRICTIONS

10.1 For the purposes of paragraph 3.2 of Schedule A to the Dealer Agreement, the TEFRA exemption is not applicable.

10.2 The Managers will comply with the selling restrictions, in connection with the offering of the Notes, as described in the Offering Circular under the heading “Subscription and Sale” as supplemented by the Pricing Supplement.

11. DEFAULT BY THE MANAGERS

11.1 If any Manager defaults on its obligation to subscribe the Notes (the “Default Securities”) that have been allotted to it for subscription, the other non-defaulting Manager may, but shall not be obligated to, subscribe the Default Securities.

11.2 Any Default Securities subscribed in accordance with this Clause will be subscribed at the Purchase Price.

For the avoidance of doubt, the Underwriting Commission that would be payable in respect of the Default Securities to the defaulting Manager shall instead be paid pro rata to the non-defaulting Manager subscribing the Default Securities. In addition, the defaulting Manager shall pay to such non-defaulting Manager an amount determined by the non-defaulting Manager in its absolute discretion as being the cost of borrowing the funds necessary to make payment for the Default Securities to the Issuer on the Closing Date and of any other costs associated with the default. If

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[SEOUL 13211_2] the Default Securities remain unsubscribed by the non-defaulting Manager, then this Agreement shall thereupon terminate, without liability on the part of any non-defaulting Manager or the Issuer, except for the expenses to be borne by the Issuer under Clause 8 hereof. However, nothing herein shall relieve a defaulting Manager from liability for its default.

12. GOVERNING LAW

12.1 This Agreement is and all matters, disputes, claims or non-contractual obligations arising from or connected with it are governed by, and shall be construed in accordance with, English law. 12.2 The courts of England have exclusive jurisdiction to settle any dispute (a “Dispute”), arising from or connected with this Agreement (including a dispute relating to any non-contractual obligations or regarding the existence, validity or termination of this Agreement) or the consequences of its nullity. 12.3 The parties agree that the courts of England are the most appropriate and convenient courts to settle any Dispute and, accordingly, that they will not argue to the contrary. 12.4 Clause 12.2 is for the benefit of the Managers only. As a result, nothing in this clause 12 prevents the Managers from taking proceedings relating to a Dispute (“Proceedings”) in any other courts with jurisdiction. To the extent allowed by law, the Managers may take concurrent Proceedings in any number of jurisdictions. 12.5 The Issuer agrees that the documents which start any Proceedings and any other documents required to be served in relation to those Proceedings may be served on it by being delivered to Kexim Bank (UK) Limited at 3rd Floor, Moorgate Hall, 155 Moorgate, London EC2M 6XB, United Kingdom or at any address of the Issuer in Great Britain at which service of process may be served on it in accordance with Part XXIII of the Companies Act 1985. Nothing in this paragraph shall affect the right of the Managers to serve process in any other manner permitted by law. This clause applies to Proceedings in England and to Proceedings elsewhere. 12.6 The Issuer consents generally in respect of any Proceedings to the giving of any relief or the issue of any process in connection with such Proceedings including (without limitation) the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which is made or given in such Proceedings. 12.7 To the extent that the Issuer may in any jurisdiction claim for itself or its assets or revenues immunity from suit, execution, attachment (whether in aid of execution, before judgment or otherwise) or other legal process and to the extent that such immunity (whether or not claimed) may be attributed in any such jurisdiction to the Issuer or its assets or revenues, the Issuer agrees not to claim and irrevocably waives such immunity to the full extent permitted by the laws of such jurisdiction.

13. RIGHTS OF THIRD PARTIES

A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy the benefit of any term of this Agreement, but this does not affect any right or remedy of a third party which exists or is available apart from that Act. Unless otherwise specified herein the consent of any person who is not a party to this Agreement is not required to rescind or vary this Agreement at any time.

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[SEOUL 13211_2] 14. COUNTERPARTS

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original.

15. ASSIGNMENT

Clause 16 of the Dealer Agreement (Assignment) shall apply mutatis mutandis to this Agreement as if expressly incorporated herein, and as if references to “Dealer” and “Dealers” therein were references to the Managers. This Agreement shall be binding upon and shall inure to the benefit of the parties and their permitted successors and assigns.

16. ENTIRE AGREEMENT

This Agreement and the other documents referred to herein constitute the entire agreement and understanding of the parties and supersede any previous agreement between the parties (whether written or oral) relating to the subject matter of this Agreement and without prejudice to the generality of the foregoing, exclude any warranty, condition or other undertaking implied by law or by custom.

Each of the parties acknowledges and agrees that, in entering into this Agreement, it has not relied on any representation, warranty, assurance, covenant, indemnity, undertaking or commitment which is not expressly set out or referred to in this Agreement or the documents referred to herein.

No provision of this Agreement excludes liability for fraud including fraudulent misrepresentation.

17. TIME TO BE OF THE ESSENCE

Any date, time or period referred to in this Agreement shall be of the essence except to the extent to which the Managers and the Issuer agree in writing to vary any date, time or period, in which event the varied date, time or period shall be of the essence.

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[SEOUL 13211_2] This Agreement has been entered into on the date stated at the beginning.

The Issuer

THE EXPORT-IMPORT BANK OF KOREA

By: ______Name: Jayoung Gu Title: Director, Treasury Group Address: 38 Eunhaeng-ro, Yeongdeungpo-gu, Seoul 07242, Korea

Lead Manager

DEUTSCHE BANK AG, TAIPEI BRANCH

By: ______Name: Title: Address: 10F, 296, Jen-Ai Road Sec. 4, Taipei 106, Taiwan, Republic of China

By: ______Name: Title: Address: 10F, 296, Jen-Ai Road Sec. 4, Taipei 106, Taiwan, Republic of China

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[SEOUL 13211_2] Co-managers

BANK OF TAIWAN

By: ______Name: Title: Address: No. 120, Section 1, Chongqing South Road, Taipei City 100, Taiwan, Republic of China

FUBON SECURITIES CO., LTD.

By: ______Name: Title: Address: 2F&15F., No.169, Sec. 4, Ren' ai Rd., Da' an Dist., Taipei City, Taiwan, Republic of China

KGI BANK

By: ______Name: Title: Address: 8F, No.125, Sec.5, Nanjing E. Road., Songshan Dist., Taipei City 10504, Taiwan, Republic of China

PRESIDENT SECURITIES CORP.

By: ______Name: Title: Address: 2F, No. 8, Dongxing Rd., Songshan Dist., Taipei City 105, Taiwan, Republic of China

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[SEOUL 13211_2]

SHANGHAI COMMERCIAL & SAVINGS BANK, LTD.

By: ______Name: Title: Address: 3F, No. 2, Min Chuan E. Rd., Sec 1, Taipei, Taiwan, Republic of China

SINOPAC SECURITIES CORP.

By: ______Name: Title: Address: 5F, No. 306, Sec. 2, Bade Rd., Taipei 104, Taiwan, Republic of China

TAIPEI FUBON COMMERCIAL BANK CO., LTD.

By: ______Name: Title: Address: No.169, Sec. 4, Ren’ai Rd., Da’an Dist., Taipei, Taiwan, Republic of China

TAISHIN INTERNATIONAL BANK

By: ______Name: Title: Address: 10F., No.118, Sec. 4, Ren-ai Rd., Da-an District, Taipei City 106, Taiwan, Republic of China

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[SEOUL 13211_2]

SCHEDULE 1

Managers Principal amount of Underwriting the Notes Commission to be to be subscribed allocated (US$) (US$)

Deutsche Bank AG, Taipei Branch 213,000,000 795,000 Bank of Taiwan 10,000,000 10,000 Fubon Securities Co., Ltd. 60,000,000 72,000 KGI Bank 20,000,000 20,000 President Securities Corp. 25,000,000 25,000 Shanghai Commercial & Savings Bank, Ltd. 15,000,000 15,000 SinoPac Securities Corp. 30,000,000 36,000 Taipei Fubon Commercial Bank Co., Ltd. 7,000,000 7,000 Taishin International Bank 20,000,000 20,000

Total 400,000,000 1,000,000

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[SEOUL 13211_2] ANNEX 1

Professional Institutional Investors

Professional Institutional Investors as defined under Paragraph 2, Article 4 of the Financial Consumer Protection Act of the ROC currently include:

(i) overseas or domestic banks, securities enterprises, futures firms, insurance companies (excluding insurance agencies, insurance brokers and insurance surveyors), the foregoing as further defined in more detail in Paragraph 3 of Article 2 of the Organization Act of the Financial Supervisory Commission of the ROC;

(ii) overseas or domestic fund management companies, government investment institutions, government funds, pension funds, mutual funds, unit trusts, funds managed by financial services companies in accordance with the Securities Investment Trust and Consulting Act, the ROC Futures Trading Act, or the ROC Trust Enterprise Act, or investment assets mandated and delivered by or transferred for trust by financial consumers; and

(iii) other institutions recognized by the Financial Supervisory Commission of the ROC.

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[SEOUL 13211_2]