Nature of the Output

Responses generated by this service are general reference information based on the limited information entered by the user and on publicly available statutes, standards and general practice. They do not constitute an opinion rendered in an audit, review or other assurance engagement, a final conclusion of tax adjustment, tax return filing, appeal or advisory services, a legal opinion, or any other professional opinion of an accounting firm, a certified public accountant or their personnel, and do not represent an official opinion or position of EY. A formal engagement under a separate arrangement is required where an official opinion is needed.

Reliance on Current Law

In providing our comments in this communication, we have relied upon our understanding of current tax legislation, guidelines and known practices of the relevant tax and other relevant authorities as of this date. Should these legislation, guidelines or known practices change, some of the issues/conclusions discussed in this communication may change as well. We will not be responsible for updating the information herein, unless we are specifically requested to do so under a separate arrangement.

Services Not Performed

This service does not prepare the user's accounting records or financial statements, does not perform internal audit functions on the user's behalf, and does not design or operate financial information systems. It does not perform valuations of assets, capital or rights, render fairness opinions on transactions or contracts, arrange financing or investments, or carry out any other activity that constitutes a management decision, such as the disposal or transfer of significant assets.

Documents for Submission

This service does not represent or advocate for the user and does not finalize documents to be submitted to tax authorities, regulators, courts or counterparties. Prior to any submission, disclosure, filing or decision, the user must obtain review by the responsible officer and by independent qualified professionals.

Restricted Use

This communication is solely for your needs and is not to be relied upon by any other person or entity. Hence, if you wish to disclose copies of this communication to any other person or entity, you must inform them that they may not rely upon our work for any purpose without our written consent.

Independence Restrictions

Where the user is an audit, review or assurance client of the firm, or a parent or subsidiary thereof, this service may restrict or discontinue responses depending on independence requirements, conflicts of interest, and prohibited non-audit services under applicable laws. In particular, the scope of accounting-related responses may vary in accordance with independence requirements. Use of this service does not affect the firm's independence determinations, audit opinions, review conclusions or assurance conclusions.

User Responsibility

Users must not rely on the responses as the basis for accounting treatment, tax filings, disclosures, investments, financing, execution of transactions or internal control judgments. Final judgment and responsibility for execution rest with the user and the user's management; specific matters require a separate independence review and review by qualified professionals.

No Warranty; Scope

Responses are provided "as is" without warranties of completeness, accuracy or timeliness. Use of this service does not create a client or advisory relationship. This service addresses Korean tax matters only and does not provide US or other foreign tax advice.