Press Release April 19, 2006

Seok Jong Hoon Appointed as Joint CEO of Daum Communications

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April 19, 2006 - The Board of Directors at Daum Communications announced today that Seok Jong Hoon would join incumbent CEO Lee Jae Woong as co-CEO. Seok Jong Hoon had previously been in charge of the company?s media division, Daum“s core domestic business.

Daum Communications anticipates improvements in the efficiency and specialized nature of the company“s decision-making process, while also enhancing its ethical management system to ensure continued growth. With the appointment, Co-CEO Seok Jong Hoon now assumes full the legal rights and responsibilities of the position.

"The adoption of the co-CEO system is intended to set up a specialized and fast decision-making process in line with Daum“s growth expectations. We want to be able to cope quickly with changes in the business environment and increase our market dominance," Seok said. "We will be at the forefront of future paradigm shifts by actively addressing the needs of the ubiquitous communication environment and linking a variety of user-based services with our media platforms," he stressed.
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