hanarotelecom (HANAY) 6-K Live Filing

Cancellation of Stock Option Grant

1. Number of grantees affected by cancellation : 11 persons

2. Number of shares subject to cancellation : 2,921,289 registered common shares

3. Number of stock option rights after cancellation : 8,161,528 registered common shares

4. Reasons for cancellation : Cancellation pursuant to Article 9-2 of hanarotelecom’s Articles of Incorporation (voluntary resignation within 2 years after the date of grant, etc.)

5. Date of BOD resolution : October 12, 2006
- - Outside directors : 4 out of 6 were present
- - Audit Committee members : present

[Details of Cancellation of Stock Option Grant]

	Relation with the	No. of cancelled
Name	Company	shares		Reason for cancellation
In-Ho Baik	Former employee		3,294	Disciplinary dismissal
				Voluntary resignation
				within 2 years after the
Jeoung-Nyon Kim	Former employee		2,300	date of grant
				Voluntary resignation
				within 2 years after the
Seung-Pil Mun	Former employee		2,300	date of grant
				Voluntary resignation
				within 2 years after the
Tae-Shik Chang	Former employee		3,420	date of grant, etc.
				Voluntary resignation
				within 2 years after the
Sang-Ju Lee	Former employee		1,900	date of grant
				Voluntary resignation
				within 2 years after the
Dong-Ho Shin	Former employee		2,300	date of grant
				Voluntary resignation
				within 2 years after the
Kang-Min Park	Former employee		2,300	date of grant
				Voluntary resignation
				within 2 years after the
Mun-Hee Hong	Former employee		10,000	date of grant
				Voluntary resignation
				within 2 years after the
Dong-Seok Kim	Former employee		2,830	date of grant, etc.
				Voluntary resignation
				within 2 years after the
Rak-Jae Choi	Former employee		2,300	date of grant
Chang-Bun Yoon	Former officer		2,888,345	Voluntary waiver
Total			2,921,289