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---------------------- Forwarded by Matthias Lee/SIN/ECT on 09/04/2000 09:06 AM --------------------------- "skhong (Suhn-Kyoung Hong)" <skhong@kimchang.com< on 09/02/2000 03:15:31 PM To: <Matthias.Lee@enron.com< cc: Subject: Re: EnronOnline Legal Survey - Korea Today's newspaper in Korea reported that a seminar on weather insurance and weather derivatives was held at the Bureau of Insurance Development where officers of insurance companies as well as futures companies emphasized the need for weather insurance and weather derivatives. I thought you might be interested. Regards, <<< "Matthias Lee" <Matthias.Lee@enron.com< 08/25/00 04:49pm <<< Dear Ms Hong Thank you for your memo dated 12 July 2000 on EnronOnline and our various telephone discussions on the matter. I had previously enquired on the consequences of not obtaining the relevant approvals or filing the relevant report with the Bank of Korea. You advised in your memo thatthe Korean counterparty would not be able to remit its payments under the transaction and that the Supreme Court of Korea has ruled that foreign exchange authorization must be obtained before a judgment can be executed against a Korean party and the proceeds remitted. Your advice was certainly pertinent to our assumption that transacting Enron affiliates would all be off shore to Korea, kindly clarify whether the inability to remit foreign exchange is the only consequence. Accordingly, what would be the consequences of not filing a report or obtaining approval from BOK where the two contracting parties are on shore Korean entities? I tried to call you today, but understand you are on vacation until 28 August 2000. I would be most grateful if you could answer the above question when you return. Many thanks Matt ------------------------------------------------------------- E-Mail : lawkim@kimchang.com Tel. : +822-3703-1114 Fax : +822-737-9091 Address : Seyang Building, 223 Naeja-Dong, Chongro-Ku, Seoul, Korea 110-720 This e-mail is intended for the exclusive use of the individual or entity named above and may constitute information that is privileged or confidential or otherwise protected from disclosure. Dissemination, distribution, forwarding or copying of this e-mail by anyone other than the intended recipient is prohibited. If you have received this e-mail in error, please notify us immediately by telephone or e-mail and completely delete or destroy any and all electronic or other copies of the original message. -------------------------------------------------------------
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