Samsung C&T Corporation

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Status of Outside Auditors

The 55th Term	: Samil Price Waterhouse Coopers
The 54th Term	: Samil Price Waterhouse Coopers
The 53th Term	: Samil Price Waterhouse Coopers

The 55th Term	: Samil Price Waterhouse Coopers
The 54th Term	: Samil Price Waterhouse Coopers
The 53th Term	: Samil Price Waterhouse Coopers

As the outside auditor, Samil Price Waterhouse Coopers audited the accompanying consolidated balance sheets of Samsung C&T Corporation as of December 31, 2005 and 2004 including the related consolidated statements of income, surplus appropriation statements and cash flows for the years then ended.
These financial statements are the responsibility of the Company’s management. The responsibility of the outside auditor is to express an opinion on these financial statements based upon audit research.
The outside auditor conducted the audits in accordance with auditing standards generally accepted in the Republic of Korea.

Those standards require that the auditor plan and conduct the audits to obtain reasonable assurances about whether the financial statements are free from material misstatement.
An audit includes examining, on a test basis, the evidence supporting the amounts and disclosures as they appear in the financial statements.

An audit also includes assessing the accounting principles in use and the significant estimates made by management, as well as the evaluation of the overall financial statement presentation.
Samil Price Waterhouse Coopers believes that its audits and the reports of the other auditors provide a reasonable basis for the expression of the auditing opinion.
In the opinion of the outside auditor, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the company as of December 31, 2005 and 2004, and the results of the operations, the changes in earned surplus and cash flows for the years involved in conform with accounting principles generally accepted in the republic of Korea.




The 55th Term	Appropriate	In the opinion of the auditor, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Samsung C&T Corporation as of December 31, 2005 and 2004, and the results of the operations, the changes in earned surplus and cash flows for the years involved conform with accounting principles generally accepted in the republic of Korea.

The 54th Term	Appropriate	In the opinion of the auditor, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Samsung C&T Corporation as of December 31, 2005 and 2004, and the results of the operations, the changes in earned surplus and cash flows for the years involved conform with accounting principles generally accepted in the republic of Korea.

The 53th Term	Appropriate	In the opinion of the auditor, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Samsung C&T Corporation as of December 31, 2005 and 2004, and the results of the operations, the changes in earned surplus and cash flows for the years involved conform with accounting principles generally accepted in the republic of Korea.