Filed Pursuant to Rule 433
Registration Statement No. 333-132993
March 27, 2007
Final Term Sheets for U.S. dollar-denominated Notes and Euro denominated Notes
(a) Final Term Sheet for U.S. dollar-denominated Notes (US$600,000,000 Floating Rate Notes due 2010)
| Issuer | The Korea Development Bank | |
| Issue currency | U.S. DOLLAR ($) | |
| Issue size | US$600 million | |
| U.S. Maturity date | April 3, 2010 | |
| Settlement date | On or about April 3, 2007 | |
| Interest Rate | Three-Month USD LIBOR plus 0.14% per annum (payable quarterly) | |
| U.S. Interest Payment Dates | On April 3, July 3, October 3 and January 3 of each year, commencing on July 3 and with interest accruing from April 3, 2007 | |
| U.S. Interest Period | The period from and including April 3, 2007 to but excluding the first U.S. Interest Payment Date and each successive period from and including a U.S. Interest Payment Date to but excluding the next U.S. Interest Payment Date | |
| Public Offering Price | 100% | |
| Gross Proceeds | US$600,000,000 | |
| Underwriting Discounts | 0.08% | |
Net Proceeds (after deducting underwriting discounts but not estimated expenses) | US$599,520,000 | |
| Denominations | US$100k/1k | |
| Day count | Actual/360 | |
| CUSIP | 500630BN7 | |
| ISIN | US500630BN74 | |
| Common Code | 029445281 | |
| Joint Bookrunners | ABN AMRO Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS AG | |
| Joint Lead Managers | ABN AMRO Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS AG, DEPFA BANK plc | |
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(b) Final Term Sheet for Euro-denominated Notes (€300,000,000 Floating Rate Notes due 2014)
| Issuer | The Korea Development Bank | |
| Issue currency | EURO (€) | |
| Issue size | €300 million | |
| Euro Maturity date | April 3, 2014 | |
| Settlement date | On or about April 3, 2007 | |
| Interest Rate | Three-Month EURIBOR plus 0.24% per annum (payable quarterly) | |
| Euro Interest Payment Dates | On April 3, July 3, October 3 and January 3 of each year, commencing on July 3 and with interest accruing from April 3, 2007. | |
| Euro Interest Period | The period from and including April 3, 2007 to but excluding the first Euro Interest Payment Date and each successive period from and including a Euro Interest Payment Date to but excluding the next Euro Interest Payment Date | |
| Public Offering Price | 100% | |
| Gross Proceeds | €300,000,000 | |
| Underwriting Discounts | 0.12% | |
Net Proceeds (after deducting underwriting discounts but not estimated expenses) | €299,640,000 | |
| Denominations | €50k/1k | |
| Day count | Actual/360 | |
| ISIN | XS0294485312 | |
| Common Code | 029448531 | |
| Joint Bookrunners | ABN AMRO Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS AG | |
| Joint Lead Managers | ABN AMRO Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS AG, DEPFA BANK plc | |
All references to the “Notes” herein are to the U.S. dollar-denominated Notes and the Euro-denominated Notes, collectively. Capitalized terms used but not defined herein have the meanings given to them in the Preliminary Prospectus Supplement dated March 26, 2007.
In connection with the offering of the Euro-denominated Notes, an affiliate of DEPFA BANK plc, one of the underwriters, has indicated an intention to purchase approximately 16.7% of the Euro-denominated Notes.
The issuer’s expenses associated with the offering of the Notes are estimated to be approximately US$350,000.
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The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Web site of the Securities and Exchange Commission at www.sec.gov. Alternatively, an underwriter or dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-888-226-3756.
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