Lee & Ko acted as legal advisors to the underwriters in June 2014 in connection with the issuance of the Exchange Equalization Bond, viewed as the most significant Korean issuance of securities overseas. The Exchange Equalization Bond is particularly indicative of Korea’s overseas credibility, and the interest rate applied to the issuance is used as a target measure of interest in the international securities market. In particular, it is noteworthy that the 2014 Exchange Equalization Bond issuance was implemented in the form of Euro-denominated 10-year bonds in the amount of EUR 750 million, and 30-year US Dollar-denominated bonds in the amount of USD 1 billion, thus successfully achieving low-interest rates and long term-length objectives thereof and elevating Korea’s prestige and standing in the overseas markets.