C.G Charter

To our Valued Shareholders, Customers and Friends
Let me begin this message by expressing my gratitude for your unwavering support of KT over this past year. The year 2006 was an exhilarating one for us at KT-it was a time to not only reflect on our achievements, but also scrutinize what needed to be changed, and take proactive steps to correct these problems.

Along these lines, we reassessed our past business practices and discarded longstanding competitive strategies deemed unsuitable for growth - the highest priority for KT's management and the ultimate test of our ability to achieve future success.
Indeed, we have had a busy year full of new insights and renewed vigor.
Back to the Basics-Keeping it simple, making it better
KT is a company that reflects lessons learned, and we are doing our utmost to build a stronger foundation, with our Wonder Management strategy at the core.

Our goal is threefold delivering wonderful world, and creating wonderful value for our shareholder. KT's Wonder Management is all about getting back to the basics of business and seeking sustainable long-term growth. Armed with Wonder Management, KT plans to reinvent itself as a company that stands at the forefront of Korea's IT industry, setting the trend for others to follow.
Poised and Ready-Facing the competition, making history
KT is stronger than ever before and is ready to face the competition with optimism and confidence. With our new business poised to bear fruit and become the springboard for future success, we are well on our way to establishing ourselves on the global stage as a force to be reckoned with, Our WiBro service, for example, wowed APEC guests in Busan last November, and its imminent commercial rollout will set a milestone by inaugurating the age of fixed-mobile convergence.

Further, IP-Media - referred to as the ¡°flower of telecom-broadcasting convergence¡± promises to be an opportunity for adding value. With a sizeable potential spillover effect on linked industries and the potential to create new employment, IP-Media is likely to provide a much-needed stimulus to Korea's IT industry.
In the mid- to long term. KT will further invest in the digital content industry and offer total IT services for KT-MOS and the homes, offices and transportation systems of U-City. These efforts will bring us one step closer to creating a Ubiquitous world.
Customers come First - Securing trust, winning hearts
Listening to our customers is KT's number one priority, and it is what allowed us to secure customer trust and support, the foundation of KT's current success.
Indeed, our customers have made KT the innovative company it is today.

We believe that even a quality product or a breakthrough technology is meaningless if it does not secure the trust and hearts of customers. So with this in mind, we intend to renovate our operations from top to bottom, instilling in our employees a profound awareness of the customer as the key to corporate competitiveness at all levels of business. We will also work to build a sound basis for long-term growth, creating greater value for our shareholders and customer.
A company that cares - Reaching out, giving back to the community
Economic activities in today's world have been profoundly transformed by IT, making a win-win approach to management a necessary strategy to ensure continued competitiveness. In light of this reality, KT will continue to nurture its strong labor-management relations, strive to improve our win-win cooperation systems with our partners, and foster mutually-beneficial relationships with our competitors.

These measures will not only fuel KT's growth, but energize the IT industry as a whole. As Korea's largest common carrier with over one hundred years of history.
KT is known for making major social contributions to the Korean society. These efforts will continue in 2006 as we focus on reducing the digital divide, expanding universal and providing various community outreach program.
Seeing the future Now - No limitation, only possibilities
KT's history is synonymous with the history of Korean IT itself, and with such a strong foundation, we will shape and help usher in a world where technology is a dependable companion, a way to improve the quality of life of all, in way once thought unimaginable.

KT hopes to make dreams com true and shape a brighter future for all. Indeed, tomorrow will be a Ubiquitous world a world with seamless connection between homes, offices, and even transportation services. It will be a world more prosperous and convenient, and KT stands ready to lead you into this world.
Once again, we thank you for your continued support of KT.

¡Ø The annual report on Form 20-F for the year ended December 31, 2008 was filed with the U.S. Securities and Exchange Commission (SEC) on June 29, 2009.
The report is available through our SEC/NYSE/LSE filing section, as well as on the SEC's website at http://www.sec.gov
Investors may request a hard copy of the annual report free of charge by contacting KT's investor relations office. The contact information is as follows:
Address
KT Investor Relations
206 Jungja-dong, Bundang-gu,
Sungnam-City, Kyunggi Province,
463-711, Korea
Tel
82-31-727-0850
Fax
82-31-727-0859

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