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Official Foreign Reserves(End of January 2005)

International Department (International Planning Team(tel : 82-2-759-5738, fax : 82-2-759-5736)) 2005.02.15 2069

□ Korea's official foreign reserves as of the end of January 2005 registered 199.7 billion
    dollars, representing an increase of 0.63 billion dollars from the previous month's 199.07
    billion dollars.

   o This slight increase was attributable to the decrease in the U.S. dollar translation value of 
      that part of foreign reserves made up of the euro and the yen, offsetting the increased
     profits on the operation of part of the foreign currency holdings.