Article 720Notice of Convocation of Bondholders Meetings

①In order to convene a bondholders meeting, the convener must give written notice thereof to known bondholders and the bond-issuing company, as well as to the bond administrator or assistant bond administrator if appointed, no later than two weeks prior to the day of the bondholders meeting.

②In lieu of sending the written notice referred to in the preceding paragraph, the convener may send a notice by electronic or magnetic means with the consent of bondholders, pursuant to the provisions of Cabinet Order. In these cases, relevant convener is deemed to have sent the written notice under that paragraph.

③The notice referred to in the preceding two paragraphs must state or record the matters set forth in each item of the preceding Article.

④If a bond-issuing company issues bearer bond certificates, in order to convene a bondholders meeting, the convener must give public notice to the effect that a bondholders meeting will be convened and of the matters set forth in each item of the preceding Article no later than three weeks prior to the day of the bondholders meeting.

⑤The public notice pursuant to the provisions of the preceding paragraph must be given in accordance with the means of public notice used by the bond-issuing company; provided, however, that, if the convener is a person other than the bond-issuing company, and that method is electronic public notice, that public notice must be effected by publication in Official Gazette.