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STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2008 AND 2007

Translation into U.S.dollar(Note 2)

Korean won in thousands 2007

2008

2008

Cash flows from operating activities : Net increase (decrease) in net assets per statements of activities

115,159

(62,560)

US$

(49,750)

Adjustments to reconcile net increase (decrease) in net assets to net cash provided by operating activities : Depreciation

6,594

12,824

10,198

15,326

29,768

23,672

(11,237)

(8,936)

36,364

-

-

Loss on retirement of property and equipment

-

9

7

Payment of severance and retirement benefits

(4,368)

(45,095)

(35,861)

Decrease (Increase) in accrued income

197,769

(36,706)

(29,189)

Decrease (Increase) in other receivables

(25,615)

22,452

17,854

17,683

(17,973)

(14,292)

3,227

3,253

2,587

Total adjustments

246,980

(42,705)

(33,960)

Net cash provided by operating activities

362,139

(105,265)

(83,710)

Provision for severance and retirement benefits Gain on valuation of financial instrument Loss on sale of property and equipment

Increase (Decrease) in other payables Increase in withholdings

Cash flows from investing activities : Withdrawal of short-term financial instruments

1,800,000

2,450,000

US$

1,948,311

Withdrawal of long-term investment securities

1,099,975

-

-

Acquisition of short-term financial instruments

(2,750,000)

(600,000)

(477,138)

(14,343)

(27,987)

(22,256)

(700,000)

(1,300,000)

(1,033,798)

(564,368)

522,013

415,119

-

-

-

(202,229)

416,748

331,409

759,976

557,747

443,537

Acquisition of property and equipment Acquisition of long-term investment securities Net cash provided by (used in) investing activities Cash flows from financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

557,747

974,495

US$

774,946

Annual report 2008 en  
Annual report 2008 en  
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