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Technology Stocks : Korea Thrunet Co Ltd - (KOREA) -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (212)	1/5/2000 3:52:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 406

Korea Thrunet Announces KEPCO's Sale of Shares SEOUL, South Korea and NEW YORK, Jan. 5 /PRNewswire/ -- Korea Thrunet Co., Ltd. (Nasdaq: KOREA - news) today announced that one of the Company's major shareholders, Korea Electric Power Corporation (KEPCO) sold 7.26% or 5,227,200 shares of Korea Thrunet to Sejong Securities as of December 31, 1999. This was a private market transaction held in South Korea between Korea Electric Power Corporation and Sejong Securities. KEPCO's decision to sell was not based on its business with Korea Thrunet but was to comply with one of the obligations KEPCO was required under the Korean Government Restructuring Plan. The lock-up agreement related to KEPCO's holdings includes that the party agreeing to purchase the shares from KEPCO must also agree to be bound by the terms of the ``Original Agreement' and the declared conditions for the remainder of the lock-up period. biz.yahoo.com