Auditor's report

We, as members of the Audit Committee of LG Telecom, Ltd., have audited the accounting processes and results of operations for fiscal year 12 running from January 1, 2007 to December 31, 2007. The findings of our audit are as follows.

1. Audit Methodology Overview
We have reviewed the accounting books and related records and thoroughly examined the financial statements and supplementary statements. During the course of our audit, we made comparisons, conducted due diligence, made inquiries, and used other appropriate auditing procedures as necessary. For the operations audit, we attended board, executive committee, and other important meetings. We were briefed by the directors on business operations, and we reviewed in detail the reports of these meetings using appropriate methods.

2. Balance Sheet and Income Statement Opinion
The balance sheets and income statements fairly present the financial balance, revenues, and expenses of the Company in accordance with the Articles of Incorporation and relevant laws.

3. Statement of Appropriations of Retained Earnings Opinion
The statements of appropriations of retained earnings are presented in accordance with the Articles of Incorporation and relevant laws and properly reflect the financial position and situation of the Company.

4. Business Report Opinion
The business report fairly presents the current financial status of the Company in accordance with the Articles of Incorporation and relevant laws.

5. Director Performance Opinion
The directors appropriately carried out their overall duties.