THE KOREAN GOVERNMENT'S RESPONSE

TIMELINE - MILESTONES AT A GLANCE

December 16, 2009 2010 Financial Policy Agenda January 11, 2010 Corporate Governance January 20, 2010 Mortgage Loans and Risk February 01, 2010 Banks SBL February 10, 2010  Infrastructure for OTC derivatives February 23, 2010  Amendments to FSCMA April 08, 2010 Amendments to Financial Investment Regulation April 15, 2010 Amendments to Credit Business Act April 20, 2010 Impacts of the Goldman Sachs Case May 07, 2010 Contingency Plans for Southern Europe's Financial Crisis June 14, 2010 2nd FX Soundness June 29, 2010 Amendments to Insurance Business Act July 20, 2010 Sunshine Loans July 28, 2010 Amendments to Enforcement Decree of Bank Act July 28, 2010 LTKTB Press Release August 01, 2010 Privatization plan for Woori Financial Group August 02, 2010 Short term Financing August 26,2010 Measures to Support SMEs Hit by International Sanctions against Iran September 02, 2010  Stimulation Plan for Long-term KTB Futures Trade Approved by FSC September 20,2010 Notice of Changes to Banking Supervision Regulation September 29, 2010  The 5th FSB Plenary Meeting Report October 05, 2010 The BOK-FSS Joint Inspection on Banks October 15, 2010 FSB Plenary Meeting and BCBS Meeting held in Seoul October 30, 2010 KDIC Put Woori Shares Up For Sale November 09, 2010 Proposed amendments to the Enforcement Decree of the Banking Act Approved by Cabinet November 11, 2010 Global Financial Regulatory Reforms November 22, 2010  Countermeasures against KOSPI's Sudden Plunge on Nov. 11 Npvember 24, 2010  Results of Emergency Economic Meeting after North Korea's Artillery Firing December 02, 2010  Progress on Management of Public Funds December 07, 2010  Follow-up Measures for November 11 Novermber 24, 2009  KDIC sells its stake in Woori Finance Holdings Novermber 19, 2009  Supervision of Financial Institutions FX soundness Strengthened October 14, 2009 Korea Gains Full Membership into the FATF September 17, 2009 Expanded Microcredit for Low-Income Households September 16, 2009 FSB Plenary Meeting Report September 04, 2009 Progress on Corporate Restructuring September 24, 2009  Pittsburgh G-20 Summit (US) August 17, 2009 Facility Investment Fund July 30, 2009 Corporate Restructuring Progress & Financial Sector’s Non-Performing Loans July 28, 2009 Privatization of Korea Development Bank July 17, 2009 SME Loans & Credit Guarantees in the First Half of 2009 July 15, 2009 Key Financial Policy Issues July 10, 2009 Plans to Advance Financial Infrastructure of Funds Market July 06, 2009 Plans to Finance Green Growth Related Industries June 25, 2009 Economic Policy Directions for the Second Half of 2009 June 22, 2009 Restructuring Plan for SMEs June 12, 2009 SME Loans and Credit Guarantees in May 2009 June 11, 2009 Corporate Credit Assessment Results May 20, 2009 Short Seling Permitted on Non-Fnancial Storcks October 9, 2008 FSC/FSS Response to October 8th International Herald Tribune Article 'Korean banks forget mistakes' October 27, 2008 Briefing for Foreign Correspondents October 29, 2008 Regulations Improvement to Provide Liquidity to Financial Market November 3, 2008 Comprehensive Policy Measures to Overcome the Ongoing Economic Difficulties November 11, 2008 Meeting with Heads of Major Banks November 25, 2008 The Global Financial Crisis & Korea's Policy Response December 9, 2008 Direction and Process of Corporate Restructuring December 17, 2008 European Commission Grants Equivalence to Korea December 18, 2008 2009 FSC Report to the President December 22, 2008 Amendments to Accounting Standards for FX Translation December 26, 2008 'Bank capital expansion fund(a tentative term)' Scheme January 9, 2009 Review of Financial Assistance to SMEs January 20, 2009 Risk Assessment for Construction and Shipbuilding Companies February 9, 2009 Moody's Credit Rating Adjustment February 12, 2009 Emergency Credit Guarantee for SME February 16, 2009 Joint Workshop Report February 19, 2009 Corporate Restructuring Strategic Directions February 25, 2009 Bank Recapitalization Fund Formation and Operation March 5, 2009 Restructuring of Shipping Companies March 13, 2009 Preemptive Initiatives to Safeguard the Soundness of Financial Instituitions March 18, 2009 FSC Meets the Press and Investors in London March 20, 2009 Bank Recapitalization Fund March 27, 2009 Results of the 2nd Round of Credit Risk Assessment on Constructors and Shipbuilders March 30, 2009 Reinforced Monitoring of Financial Institutions'PF Loans March 31, 2009 The Bank Recapitalization Fund - 1st Round Purchase April 24, 2009 Restructuring Plans for the Shipping Industry April 30, 2009 Corporate Restructuring - Results of Economic Policy Meeting May 4, 2009 Notice of Amendments to the KAMCO Act May 13, 2009 SME Financial Support Results (April 2009) May 18, 2009 2009 Corporate Restructuring Fund Management Plan October 1, 2008 Initiation of Fast Track Programs for SMEs October 19, 2008 Exiernal Debt Guarantees Announced October 21, 2008 Liquidity Support for Construction Companies & Restructuring Plan Announced October 30, 2008 Signed Currency SWAP Agreements with the U.S. November 26, 2008 Establishment of Corporate Credit Support Task Force April 1, 2009 Amendments to the FSCMA for the Establishement of the Financial Stabillization Fund Submitted to the National AssemblyApril 2, 2009 G20 Summit in London