Exhibit D-2

                     [The Korea Development Bank Letterhead]

                               POWER OF ATTORNEY

    The undersigned, the duly appointed Governor & Chairman of the Board of
Directors of The Korea Development Bank ("KDB"), hereby constitutes and
appoints Yun-Woo Lee, Wang-Kyung Kim, Sung-Ho Park, Ho In, Bong-Sik Choi and
Man-Ho Yoon and each of them (with full power of substitution), the agents and
attorneys-in-fact of the undersigned Governor & Chairman of the Board of
Directors with full power in each of them acting alone to take the following
actions on behalf of KDB and the undersigned Governor & Chairman of the Board
of Directors:

    1.  To sign a registration statement (the "Registration Statement") under
Schedule B of the United States Securities Act of 1933, as amended (the
"Securities Act"), relating to the registration of debt securities consisting
of debentures, notes and/or other evidence of indebtedness (the "Debt
Securities") with or without warrants (the "Warrants") to purchase the Debt
Securities and/or guarantees of obligations of third parties (the "Guarantees")
to be issued from time to time by KDB and one or more amendments to the
Registration Statement (including, without limitation, pre-effective or
post-effective amendments thereto and amendments or supplements to the
prospectus contained therein), and any registration statement or amendment
filed pursuant to Rule 462(b) under the Securities Act and to cause the same to
be filed with or, where permitted, transmitted for filing to the United States
Securities and Exchange Commission, together with such exhibits and other
documents as may be necessary or appropriate;

    2.  To sign such applications, certificates, consents and other documents
as may be necessary or appropriate from time to time in connection with the
qualification of the Debt Securities, Warrants and Guarantees under the
securities or Blue Sky laws of any of the states or other jurisdictions of the
United States of America and to cause the same to be filed with the securities
or Blue Sky commissions of such states or other jurisdictions; and

    3.  To sign such other documents (including, without limitation, one or
more Underwriting Agreements, Distribution Agreements, Fiscal Agency
Agreements, Warrant Agreements, Guarantee Agreements, Listing Applications,
Paying Agency Agreements and Appointments of Process Agents relating to the
Debt Securities, Warrants or guarantees), to take such other actions and to do
such other things as said agents and attorneys-in-fact or any of them, may deem
necessary or appropriate, from time to time, in connection with the foregoing
and in connection with the issuance and sale, from time to time, by KDB of the
Debt Securities, Warrants or Guarantees.



    IN WITNESS WHEREOF, the undersigned has executed this power of attorney on
the 26th day of June, 2003.


                                              By:   /s/  Jichang Yoo
                                                  ------------------------------
                                                  Jichang Yoo
                                                  Governor & Chairman of the
                                                  Board of Directors
                                                  The Korea Development Bank