KT Corporation in $200 Million Notes Offering

May 3, 2006

Cleary Gottlieb served as transaction counsel in connection with the offering pursuant to Regulation S by KT Corporation of $200 million 5.875% notes due 2016. The transaction was a takedown from KT Corporation’s $2 billion Global Medium Term Note Programme.

The notes are listed on the Singapore Stock Exchange. Merrill Lynch International and UBS Investment Bank served as joint bookrunners for the notes offering.

KT Corporation is the leading telecommunication service provider in Korea. As an integrated telecommunications service provider, KT Corporation’s principal services included fixed-line telephone services, broadband Internet access service and mobile telecommunications services.