The Company may defend against hostile takeover bids in accordance with the due procedures as provided in relevant laws and the Articles of Incorporation.

However, under the Company's Articles of Incorporation, there is no regulation regarding issuance of shares carrying any superior rights, golden parachute, poison pill plan or unreasonably high quorum requirement for approval of M&A. Therefore, to adopt such measures, the Company will have to amend the articles of incorporation by approval at the general meeting of shareholders.

In accordance with the Articles of Incorporation, M&A deals have to be approved by two thirds of shares of the shareholders present at the general meeting of shareholders (quorum for special resolution.) And shareholders opposing the M&A deals shall be entitled to appraisal rights as provided in the Commercial Code.

Registered Board members shall meet the following guidelines in trading securities of the Company.

1. Ban on Securities Trading, Based on Important Material Inside Information
   Pursuant to the Securities Exchange Act and the guidelines of the Company, registered Board members may not deal in shares of the Company, using inside information.
2. Immediate Report and Disclosure of Securities Trading
   The Company shall disclose ownership changes by registered Board members to the Financial Supervisory Service by the tenth day of the following month after the stock trading.
3. Return of Short Term Trading Profits to the Company
   In conformity with the Securities Exchange Act, if registered Board members gain profits from selling Company shares within six months after buying them, or from buying Company shares within six months after selling them, they shall return the profits to the Company.
   In this way, the Company discourages their securities trading of less than six months.