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Article 47. (Business Year)
Each business year of the Company shall commence on the 1st day of January and end
on the 31st day of December of the same calendar year.
Article 48. (Disposal of Profit)
The Company shall dispose of the profits for each business year (including profit
surplus carried forward to the current business year) as follows:
1. Profit Reserve
2. Other Legal Reserves
3. Dividends
4. Provisional Reserve
5. Other Disposal of Profit Surplus
6. Profit Surplus carried forward to the next business year
Article 49. (Dividend)
1. Payment of dividends may be made in cash or shares.
2. The dividends of paragraph (1) sshall be paid to the shareholders or pledgees registered in the
Shareholders' Register, as of the last day of each fiscal year.
3. In case that the Company issued some classes of shares, the dividends may be made in a different class
of shares from them with the resolution of the general meeting
of shareholders.
Article 49-2. (Interim Dividend)
1. The Company may provide interim dividends to shareholders at the end of March, June and September
pursuant to Article 165-12 of the Capital Market and Financial Investment Business Act.
And such dividends shall be made in money. (Act Mar. 13. 2009)
2. The interim dividends under Paragraph (1) above shall be made by a resolution of the Board of Directors,
but the resolution shall be made within 45 days from the date under Paragraph (1) above.
3. The interim dividends shall be limited to the amount after deducting any of the following amounts from net
assets amount on the balance sheet of the immediately preceding settlement period:
① capital amount of the immediately preceding settlement period;
② capital reserve and profit reserve combined and accumulated until the immediately preceding settlement
period;
③ amount as determined for profit dividends at the general meeting of shareholders of the immediately
preceding settlement period;
④ voluntary reserves for specific purposes accumulated until the immediately preceding settlement period
under the Articles of Incorporation or a resolution of the
general meeting of shareholders; and
⑤ profit reserve to be accumulated for the relevant settlement period pursuant to the interim dividends.
4.In case the Company issues new shares (including capitalization of reserves, stock dividends, demand to
convert convertible bonds and exercise of bonds with
warrants) from the commencement of the fiscal year
to the date under Paragraph (1) above, the relevant new shares in respect of the interim dividends shall
be deemed to have been issued at the end of the fiscal year immediately preceding such fiscal year.
5. In making interim dividends, the dividend rate of common shares shall apply to the preferred shares
under Article 8-2.
Article 49-3. (Redemption and Retirement of Shares)
1. The Company may, by a resolution of the Board of Directors, redeem and retire its issued and outstanding
shares to the extent of the profit that could be distributed to the shareholders as dividends.
2. In the event that there is an intent to redeem and retire shares under Paragraph (1) above, the board of
directors shall vote on the following matters:
① Kinds and numbers of shares to be retired;
② Total value of shares to be acquired for retirement; and
③ Period within which such shares are to be acquired. In any event, such period shall expire prior to the
ordinary general meeting of shareholders called for the first time after the resolution of the board of
directors.
3. The Company shall, if it acquires its shares for the purpose of retiring such shares under Paragraph
(1) above, acquire such shares in compliance with the requirements set forth in each of the following sub-
paragraphs:
① The shares shall be acquired according to the method prescribed in Article 165-2(2)(1) or 165-2(2)(2)
of the Capital Market and Financial Investment Business Act.
In the event that the shares are to be acquired according to the method prescribed in Article 165-2(2)(1),
the acquisition period and method shall be in conformity with the standards prescribed in the Presidential
Decree of the Capital Market and Financial Investment Business Act;(Act Mar. 13. 2009)
② The amount to be paid to acquire the shares for retirement shall not exceed the limit prescribed in
the Presidential Decree of the Capital Market and Financial Investment Business Act and shall not exceed
the monetary value of dividends available for shareholders at the end of the relevant business year under
Article 462 (1) of the Commercial Act. (Act Mar. 13. 2009)
③ The Company shall, if it retires its shares under Paragraph (1) above, report the specific details of the
matters referred to in each subparagraph of Paragraph (2) and the fact of retiring such shares to the
ordinary general meeting of shareholders called for the first time after a resolution of the board of
directors with respect to the retirement of such share.
Article 50. (Prescription of Right to Demand Payment of Dividends)
1. The right to demand payment of dividends shall be extinguished unless exercised within five (5) years.
2. The dividends attributable to the right extinguished as provided in paragraph (1) shall belong to the
Company.
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