Article 5: Total Number of Shares to be Issued
The total number of shares to be issued by the Company shall be 50,000,000 shares.
​
Article 6: Par Value per Share 
The par value per share issued by the Company shall be 500 Won per share.
​
Article 7: Total Number of Shares to be Issued at the Time of Incorporation
The total number of shares to be issued by the Company at the time of incorporation shall be 10,000 shares (at a per-share price of 5,000 Won).
​
Article 8: Classes of Shares
① The class of shares to be issued by the Company shall be common shares and preferred shares, both in registered form.
② The Company may issue convertible shares and redeemable shares (hereinafter referred to as ‘Convertible Redeemable Preferred Shares’) that have priority over ordinary shares in profit dividends to a limit of 1,000,000 shares and have voting rights with regard to conversion and repayment.
③ The period of existence of convertible rights shall be ten years from the date of issue.
④ Convertible redeemable preferred stock shall be entitled to a cumulative preferential dividend of 1% of the value issued each year during the holding of convertible preferred stock, and to participate and receive dividends at the same dividend rate as ordinary shares if the dividend rate of ordinary shares exceeds the dividend rate of preferred stock.
⑤ Shareholders of convertible redeemable preferred stocks may convert to common stocks at any time from the date of initial issuance to the expiration date of their duration. 
⑥ The conversion ratio to common shares of convertible redeemable preferred stocks shall be one common stock per one redeemable preferred stock. However, if there is a special agreement regarding the adjustment of the conversion ratio and conversion price, it may be decided differently by the resolution of the Board of Directors.
⑦ The voting rights of convertible redeemable preferred stocks will have one vote per share of convertible redeemable preferred stocks. However, if the convertible redeemable preferred stock is converted to common stock in accordance with the conversion conditions set forth in Paragraph 6, the common stock after conversion shall have one vote per share.
⑧ Convertible redeemable preferred stock issued by the Company has the right to buy new shares, and in the case of a free capital increase, the same type of convertible redeemable preferred stock shall be allocated to the shares to be issued by the Company.
⑨ When the preferred stock is converted into a common stock, Article 10-3 (the date on which the new stock is allocated) shall apply to the dividend of profits to the shares issued on the conversion.
​⑩ Repayment of convertible preferred shares is only possible when there is a dividend-able profit to the Company, and the Company may repay convertible preferred shares with the resolution of the Board of Directors, and shareholders of convertible preferred shares may request the Company to repay convertible preferred shares. If there is no reimbursement or a preferential dividend despite a claim for reimbursement, the repayment period shall be extended until reimbursement and dividends are completed. However, once a convertible redeemable preferred stock is converted to common stock, it cannot be claimed. The reimbursement value is the sum of the issuance value and the amount of interest from the issue date to the repayment date, and if there is a dividend paid from the issuance date of the convertible redemption preferred stock to the repayment date, the reimbursement amount is used as the repayment value.
​
Article 9: Classes of Shares
The total number of shares to be issued by the Company at the time of incorporation shall be 10,000 shares (at a per-share price of 5,000 Won).
​
Article 9-2: The Electronic Registration 
The Company should electronically register stocks on the electronic register of the electronic registry pursuant to Article 2, Subparagraph 1 of the Act on Electronic Registration of Stocks, Bonds, etc. However, this may not apply to stocks, etc. where the company does not bear the obligation to register pursuant to Acts and subordinate statutes.
​
Article 10: Preemptive Rights
① The shareholders of the Company shall have the right to receive the allocation of new shares in proportion to the number of shares owned by them when issuing new shares.
② The Company may assign new shares to non-shareholders at the resolution of the Board of Directors in any of the following cases, notwithstanding the provisions of Paragraph 1.

1. Where the company allocates shares to members of the Employee Stockholders’ Association.

2. Where the new stocks are issued due to the exercise of the stock purchase option under Article 542-3 of the Commercial Act.

3. Where the Company recruits new shares to list on the KOSDAQ market.

​

③ Notwithstanding the provisions of Paragraph 1, new shares may be allocated to persons other than shareholders by resolution of the shareholders’ meeting in any of the following cases.

1. Where the Company offers new share subscription rights to unspecified individuals and allocates new shares to the subscribers in a manner described under Article 165 – 6 of the Act on Capital Markets and  Financial Investment Services within a range not exceeding 50/100 of the total number of issued shares.​

2. Where the Company offers new share subscription rights to a domestic and foreign financial  institution, venture financing, or institutional investors to improve Company’s financial structure and urgently financing within the scope not exceeding 20/100 of the total number of shares issued.

3. Where the Company offers new share subscription rights to foreign investors, domestic and foreign joint ventures, or affiliated companies, for the purpose of introducing, research and development,  production, sales, and capital partnership important to the business within the scope not exceeding  20/100 of the total number of issued shares.

4. Where the Company offers new share subscriptions to a specific individual in order to achieve the Company’s management purposes such as introducing new technology, improving financial structure, stable trading lines, and other related purposes.

​

④ The type, number, and issuance price of new shares to be issued under any of the provisions of Paragraph 2 shall be determined by the resolution of the Board of Directors, and by the resolution of the general meeting of shareholders when new shares are issued under any of the provisions of Paragraph 3.
⑤ The Company shall determine the method of dealing with fractional shares resulting from the allocation of the new shares by a resolution of the Board of Directors.
​
Article 10-2: Stock Options
① The Company may grant stock options by the scope of the total number of shares issued by a special resolution of the Shareholders’ meeting. However, under the provisions of Article 542-3 (3) of the Commercial Act, the right to purchase shares may be granted by resolution of the Board of Directors within three-hundredths of the total number of issued shares. In such cases, the stock purchase option may be granted in a performance-linked manner linked to management performance or the stock index.   
② Those eligible for a stock option under Paragraph 1 shall be the Company’s officers or employees who contribute or have the capacity to contribute to the Company’s incorporation, management, or technological innovation, etc. and the directors, auditors, or employees of the relevant company prescribed by Article 30-1 of the Commercial Act. However, the Company’s directors shall not be granted the right to purchase shares with the resolution of the Board of Directors.
③ The Company grants stock purchase options in the following methods:

1. A method of issuing a newly-named common stock (or a preferred stock) at the exercise price of the stock option.​

2. A method of issuing self-owned common stock (or preferred stock) at the exercise price of the stock option.

3. Issuing the difference between the exercise price of the stock option and the market price in cash or treasury stock.

④ The number of shares covered by a stock option that may be granted to executives or employees of the Company shall not exceed ten out of one hundred (10/100) of the total number of issued shares.
⑤ Notwithstanding the provisions of paragraph ②, the largest shareholder (hereinafter referred to as "maximum shareholder") and major shareholders and their related parties under Article 542-8 (2) 5 of the Commercial Act shall not be granted the right to purchase shares. However, a person who falls under a related person by becoming an executive of a company or a related company referred to in paragraph (2) (including cases where the executive is a director or auditor who does not engage in the managing director of an affiliated company) may be granted a share purchase option.
⑥ The stock options may be exercised within five (5) years and after the date set by the Board of Directors or by the resolution of the general shareholders’ meeting set forth in Paragraph ①, above.

1. Deleted [2015.03.26]​

2. In the event of a retirement after three (3) years (the mandatory service period) from the date on which the share purchase option is granted, it shall be exercised within six (6) months from the date on which it is retired (or retired) and within a short period of time during the available exercise period. 

3. In the event that the rightful heirs exercise the stock option due to the death of the person who has the option to buy the stock inherited within 3 years (duty of service) from the grant date, it must be exercised within one year from the date of the exercise. If the rights are inherited during the exercise period, they must be exercised within one year after the succession and the remaining period during the exercise period.

⑦ The provisions of Article 10-3 shall apply mutatis mutandis to the distribution of profits of new stocks arising from the exercise of the option to buy stocks.
⑧ The grant of the stock option may be canceled by a resolution of the Board of Directors in any of the following cases:​

1. Where the relevant officer or employee of the Company voluntarily retires from his/her office after being granted stock options;​

2. Where the relevant officer or employee of the Company causes substantial damage to the Company due to his/her willful misconduct or negligence; 

3. Where any clause for cancellation set forth in the stock option agreement occurs.

4. Where the stock options may not be exercised due to the Company’s bankruptcy or dissolution

​

⑨ If the stock purchase option is granted to the provision to Paragraph 1, approval of the shareholders’ meeting, which is convened for the first time after grant, shall be obtained.
​

Article 10-3: Commencement Date for Dividends on New Shares
Equivalent dividends shall be applied to shares issued through a capital increase, a free increase of new shares, and stock dividend prior to the dividend base date determined by the company.
​
Article 10-4: Retirement of Shares
The Company may retire its treasury shares by resolution of the Board of Directors.
​
Article 11: Transfer Agent 
① The Company shall retain a transfer agent for shares.
② The transfer agent, the location where its services are to be rendered and the scope of its duties, shall be determined by a resolution of the Board of Directors of the Company and shall be publicly notified.
③ The Company shall keep the shareholders' registry, or a duplicate thereof, at the location where the transfer agent renders its services. The transfer agent shall deal with the transfer of shares, registration, or cancellation of pledges created on shares, registration, or cancellation of the property in trust, issuance of share certificates, acceptance of reports, and other share-related matters.
④ The procedure of dealing with such matters mentioned in paragraph 3 shall be subject to the regulation concerning the securities transfer agency by Transfer Agent, etc.
​
Article 12: Deleted [2019.03.15]
​
Article 13: Closing of the Shareholders Registry and Record Date
① The Company shall suspend entry of alterations in the register of shareholders in respect of the shareholders’ rights during the period from January 1 to January 3 of each year.
② The Company shall deem those shareholders whose names appear in the list of shareholders on December 31 of each year to be the shareholders entitled to exercise their rights as shareholders at the annual general shareholders meeting.
③ In the case of convening an extraordinary general shareholders meeting or in any other necessary cases, the Company may suspend entry of alterations in the register of shareholders with respect to a shareholders’ rights for a period no longer than three months, by a resolution of the Board of Directors, or may authorize those who are registered in the shareholders' registry as of a record date which shall be a date within three months prior to the date of exercise of their rights, set by a resolution of the Board of Directors, to exercise their rights as the Company’s shareholders. If the Board of Directors deems it necessary, the Company may suspend the entry of alterations in the registry of shareholders and designate the record date at the same time. In such a case, the Company shall provide public notice in relation thereof at least two weeks prior to the closing of the shareholders' registry or the record date.

​