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ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL BUSINESS ACT

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ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL BUSINESS ACT

Ordinance of the Prime Minister No. 674, Dec. 31, 1997 Amended by Ordinance of the Ministry of Finance and Economy No. 19, Apr. 24, 1998 Ordinance of the Ministry of Finance and Economy No. 77, May 4, 1999 Ordinance of the Ministry of Finance and Economy No. 207, July 3, 2001 Ordinance of the Ministry of Finance and Economy No. 239, Jan. 31, 2002 Ordinance of the Ministry of Finance and Economy No. 283, Nov. 1, 2002 Ordinance of the Ministry of Finance and Economy No. 302, Feb. 24, 2003 Ordinance of the Ministry of Finance and Economy No. 451, July 22, 2005 Ordinance of the Prime Minister No. 875, Mar. 3, 2008 Article 1 (Purpose)

The purpose of these Rules is to provide for the matters delegated by the Specialized Credit Financial Business Act and the Enforcement Decree of the same Act, and the matters necessary for the enforcement of such matters.

Article 2 (Object of Settlement of Accounts of Credit Card) The term "matter as prescribed by Ordinance of the Prime Minister" in the subparagraph 3 of Article 2 of the Specialized Credit Financial Business Act (hereinafter referred to as the "Act") means a purchase price of a prepaid card under the provisions of subparagraph 8 of Article 2 of the Act or, in cases where an issuer (including a person who has entered into a contract for consignment of a give certificate; hereinafter the same shall apply) of a gift certificate (referring to the securities by which the holder can be provided with goods or services by an issuer, etc. pursuant to the contents in the certificate by issuance and sale of a non-registered certificate by an issuer, in which a fixed amount, or number of goods or services are stated, regardless of their name or form, and by presentation or delivery of it to an issuer or a person (hereinafter referred to as an "issuer, etc.") designated by an issuer, or use of it by other method by a holder; hereinafter the same shall apply) has entered into a contract for sale of a gift certificate with a credit card business operator, a purchase price of the relevant gift certificate purchased from the issuer: Provided, That in cases of a personal ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL

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credit card holder, he/she can't exceed the use limit of one million won in total of the gift certificates per credit card and prepaid card.

[This Article Newly Inserted by Ordinance of the Ministry of Finance and Economy No. 283, Nov. 1, 2002]

Article 3 (Minor Investors)

(1) The term "minor investor" under the provisions of subparagraph 2 of Article 4 of the Act means a person who owns stocks not exceeding one hundredth of the total number of issued stocks which have the voting right of a corporation which is or intends to be a specialized credit financial company Article 3-2 Deleted.

Article 4 Deleted.

Article 5 Deleted.

Article 6 (Contents and Methods Making Conditions of Transaction Known to All)

(1) The term "matters as prescribed by Ordinance of the Prime Minister" in subparagraph 5 of Article 18 of the Act means the matters of the following subparagraphs:

1. Rate of income (referring to the rate converting the rate of total amount of income, such as interest, fees, etc. yielded during a quarter accounting for in the total amount of the fund financed during a quarter into the annual rate) of a credit card business operator such as fees, etc. by classification of the financing business to the credit card members; and

2. Present status of distribution of the credit class applicable to the credit card members.

(2) The term "methods as prescribed by Ordinance of the Prime Minister" in the main sentence of Article 18 of the Act means the methods of the following subparagraphs: BUSINESS ACT

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Ordinance of the Prime Minister No. 875, Mar. 3, 2008>

1. Methods as classified by the following items for various kinds of rate (hereinafter referred to as the "various kinds of rate") under the provisions of subparagraph 1 of Article 18 of the Act: (a) Various kinds of rate applied according to the credit class and period in arrears, etc. of a credit card holder or debit card holder by a credit card business operator shall be converted into the annual rates and a notice of such annual rates shall be posted on the Internet homepage of the relevant credit card business operator and the specialized credit financial business association established under the provisions of Article 62 of the Act;

(b) In case of new issuance of a credit card or the claim for the purchase price, the credit class applicable to the relevant credit card member and the various kinds of rate converted into the annual rates shall be individually notified; and

(c) A notice of a fee for a credit card member store by classification of business as determined by the association shall be posted on Internet homepage of the relevant credit card business operator and the association within one month after the end of each quarter.

2. More than two methods including the method of item (a) out of the methods of the following items for the matters of subparagraphs 2 through 4 of Article 18 of the Act:

(a) Individual notification to a credit card holder or a debit card holder and a credit card merchant store;

(b) Public announcement in a daily newspaper distributed nationwide; and

(c) Posting a notice on a place of business and internet homepage of a credit card business operator.

3. A notice of the matters of the subparagraphs of Article 1 shall be posted on the Internet homepage of the relevant credit card business operator and the association within one month after the expiration of each quarter.

[This Article Wholly Amended by Ordinance of the Ministry of Finance and Economy No. 239, Jan.31, 2002]

Article 6-2 (Termination of Contract for Credit Card Merchant Store) The term "cases as prescribed by Ordinance of the Prime Minister" in ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL

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paragraph 3 of Article 6-12 of the Enforcement Decree (hereinafter referred to as the "Decree") of the Specialized Credit Financial Business Act means cases where the discontinuance of business of a credit card merchant store has been notified in writing by the Government Tax Office.

[This Article Newly Inserted by Ordinance of the Ministry of Finance and Economy No. 207, July 3, 2001]

Article 7 Deleted.

Article 8 (Kind, etc. of Deposited Article)

(1) Kinds of deposited articles under the provisions of Article 25 (5) of the Act shall be those of the following subparagraphs and the appraisal of the deposited articles as prescribed by subparagraph 2 or 3 shall be in accordance with Article 63 (1) of the Inheritance Tax and Gift Tax Act.

1. Cash;

2. National bonds, public bonds and corporate bonds listed on the Korea Stock Exchange; and

3. Certificates of stocks or investment shares which have lapsed three months after being listed on the Korea Stock Exchange. (2) A credit card business operator shall deposit the amount of money under the provisions of Article 8 of the Decree by the end of the month following the end of each quarter.

Article 9 (Public Announcement of Implementer of Right ) A public announcement of the designation of an implementer of the right under the provisions of Article 26 (1) of the Act shall be posted on the official gazette and implemented.

Article 10 (Public Announcement of Allocation of Deposited Article) (1) An implementer of the right under the provisions of Article 26 (1) of the Act shall determine the period, method and place of report as the following subparagraphs under the provisions of Article 26 (4) of the Act and then publicly announce those in more than two daily newspapers distributed all over the country:

1. Period of report: It shall be longer than two weeks;

2. Method of report: It shall be specified that the report can be made ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL

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orally, in writing, by facsimile or by additional communications service network; and

3. Place of report: The report shall be made to the head office or a branch office of an implementer of the right.

(2) The date and method of the redemption of bonds, and other matters necessary for the redemption of bonds may be included in the public announcement under the provisions of paragraph (1) Article 11 (Mark of Specific Article)

(1) A mark appended to a specific article under the provisions of Article 36 of the Act shall be in accordance with the attached form: Provided, That this shall not apply to a specific article subject to registration and registry under other Acts and subordinate statutes. (2) A mark under paragraph (1) shall be appended to a place easily recognizable and shall not be damaged.

Article 12 Deleted.

Article 13 (Method of Making Conditions of Transaction Known to All) The provisions of Article 6 (2) 2 shall apply mutatis mutandis to advising a user of installment financing of the conditions of transaction. In cases where the amount of investment (including the investment made by the new technology project investment association; hereinafter the same shall apply) in a new technology business operator is less than its own capital, the net increase of the annual financing (excluding the amount of money financed by the fund borrowed under the provisions of Article 42 of the Act) to a new technology business operator by a new technology project financing operator shall not exceed 15 times the amount of the annual investment in a new technology business operator. Article 15 (Computation of Credit Amount)

(1) The credit amount under the provisions of Article 50 (1) of the Act means the total amount of the amount of the following subparagraphs yielded after a specialized credit financial company has obtained permission or have registered under the provisions of Article 3 of the Act:

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1. Amount of credit incurred by purchasing goods or being provided with services, etc. by a corporate credit card under the provisions of Article 7-2 (3) 5 of the Restriction Special Taxation Act;

2. Amount of financing to credit card members;

3. Expenses incurred for an equipment rental business operator to acquire a specific article delivered to a user of the rented equipment under the contract for equipment rental and all the expenses incurred for the equipment rental to a user of the rented equipment;

4. Amount of deferred payment sale;

5. Amount of installment financing used (including all the expenses required for a user of installment financing to purchase the goods under the sales contract of the goods);

6. Amount of investment in and amount of financing to a new technology business operator;

7. Amount of lending;

8. Amount of bills discounted;

9. Amount of purchasing of the sales credit under the provisions of Article 46 (1) 6 of the Act;

10. Amount of purchasing of the credit and securities under the provisions of Article 46 (1) 6 of the Act; and

11. Amount of payment guarantee. (2) Deleted. Article 16 (Real Property for Business)

The term "thing as prescribed by Ordinance of the Ministry of Finance and Economy as real property directly necessary for business" in Article 49 (1) 3 of the Act means a warehouse to store the assets for the equipment rental and its building site not falling under the items of Article 49 (1) of the Enforcement Decree of the Corporate Tax Act. Article 17 (Person in Special Relationship)

A person in a special relationship under the provisions of Article 50 (2) of the Act shall be a person falling under the subparagraphs of Article 3 of the Enforcement Decree of the Monopoly Regulation and Fair Trade Act. Article 18 Deleted. BUSINESS ACT

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1999>

Article 19 Deleted.

Article 20 Deleted.

Article 21 (Procedure for Collection of Penalty Surcharges) The Enforcement Rules of the Management of the National Funds Act shall apply mutatis mutandis to the procedure for collection of the penalty surcharge under the provisions of Article 24 (4) of the Decree. In this case, method of objection and period for raising objections, etc. shall also be stated in the notice of payment.

ADDENDA (1) (Enforcement Date) This Decree shall enter into force on January 1, 1998

(2) (Abrogation of other Acts and Subordinate Statutes) The Acts and subordinate statutes of the following subparagraphs shall be abrogated respectively:

1. Enforcement Rules of the Credit Card Business Act; and

2. Enforcement Rules of the Equipment Rental Business Act. (3) (Amendment of other Acts and Subordinate Statutes) The Enforcement Rules of the Stamp Duty Tax Act shall be amended as follows: Subparagraph 14 of Article 9 shall be amended as follows and subparagraph 17 of the same Rules shall be deleted.

14. Specialized credit financial company under the Specialized Credit Financial Business Act.

ADDENDUM

This Decree shall enter into force on the date of its promulgation. ADDENDUM

This Decree shall enter into force on the date of its promulgation. ENFORCEMENT RULE OF SPECIALIZED CREDIT FINANCIAL

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ADDENDUM

This Decree shall enter into force on the date of its promulgation. ADDENDUM

This Decree shall enter into force on the date of its promulgation: Provided, That the amended provisions of Article 6 (2) 1 (b) shall enter into force on April 1, 2002.

ADDENDUM

This Decree shall enter into force on the date of its promulgation. ADDENDA

(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.

(2) (Transitional Measure concerning Credit Ceiling on one's own affiliated companies) A specialized credit financial company exceeding the credit ceiling as prescribed by Article 50 (1) of the Act under the amended provisions of Article 15 (1) 1 at the time when these Rules enter into force, shall make it suitable for the amended provisions within one year after these Rules enter into force and, in order to perform it, shall submit a detailed plan for reduction of the part exceeding the ceiling to the Financial Supervisory Service within two months after these Rules enter into force. ADDENDUM

This Decree shall enter into force on the date of its promulgation. ADDENDA (Enforcement Rule of Organization of Office of the Financial Services Commission and Agency under its control)

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Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation. Article 2 through 5 Omitted.

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1. Equipment Rental Company Trade Name :

Address :

2. Serial Number of Specific Article :

3. Name of Specific Article :

4. Period of Equipment Rental, etc. : From (year) (month) (date)

To (year) (month) (date)

This article is the property of the above entered company and is being used during the period of equipment rental, etc. [Attached Form]

Mark of Specific Article

22222 - 04511 day 62mm x 95mm

Approved on Dec. 16, 1997 (Printing paper (special grade) 60g/)