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Inverstors News

Results of Asset Revaluation

2010.12.17 No. 662

Corporate Disclosure to Korea Exchange

Disclosure date    :             December 17, 2010
Disclosure title     :             Results of Asset Revaluation

1. Object of revaluation                   :             Land (all worksites including Ulsan plants)

2. The base date for the revaluation is January 1, 2010.

3. Results                        


A) Book Value

B) Revalued Amount

C) Difference (B-A)









4. Total asset value                         :             KRW 35,446,134,668,626

5. Revaluated value of land as % of total asset value   :             6.93%

6. Expected change to the balance sheet
A) Land (Increase in assets)                                     :             KRW 2,456,534,546,444
B) Retained earnings (Increase in equity)                   :             KRW 1,916,096,946,226
C) Deferred tax liabilities (Increase in liabilities)          :             KRW 540,437,600,218

7. Appraising organization               :             Pacific Appraisal Company

8. Date of decision                         :             December 17, 2010

9. Notes                                        
A) The above book value and asset value are as of December 31, 2009. Land that has been sold or is in the process of being sold in 2010 has been excluded from revaluation.
B) The above ‘Expected change to the balance sheet’ may be changed depending on results of external auditing and will be reflected once the company adopts the International Financial Reporting Standards (IFRS).
C) The above ‘Date of decision’ is the date the company received the results of revaluation from the appraising organization.
D) For relevant disclosure, please refer to ‘Decision to conduct asset revaluation’ released on October 28, 2010.
E) The company is a ‘large scale corporation’, defined as a corporation whose asset value in the previous fiscal year is KRW 2 trillion or above. 

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