Legal Proceedings
2007-02-07On February 6, 2007, we received a notice of a complaint filed in the Seoul Central District Court by Korea Lottery Services (“KLS”) against us on January 30, 2007. KLS claims payments of fees in the amount of 445,877,230,980 Won for the period from June 2004 to December 2006, which was calculated based on the fee rate alleged by KLS. Additionally, KLS claims interest thereon at the rate of 6% per annum for the period from July 3, 2004 to the date of receipt of notice of the complaint, and 20% per annum for the period from the date immediately following the date of receipt of notice of the complaint to the date of full payment. In dealing with this complaint, we will follow the instructions of the Korean government (the Prime Minister’s Lottery Commission). Even if we lose this case, we will not be responsible for the payment of any judgment, as payment will be made using funds in the Lottery Fund managed by the Prime Minister’s Lottery Commission.