HANA Hanarotelecom Incorporated ADS (MM)

* Hanaro was recognized as the best KOSDAQ-listed company for outstanding corporate governance in 2006, after having been selected as a recipient of the Good Corporate Governance Award in 2005 SEOUL, South Korea, June 28 /PRNewswire-FirstCall/ -- hanarotelecom incorporated (KOSDAQ: 033630) (NASDAQ:HANA) ("Hanaro" or the "Company") announced today that it was selected as a recipient of the "2006 Best Corporate Governance Award" granted by the Korea Corporate Governance Service (KCGS), an agency established to promote corporate governance of Korea's listed companies. KCGS named Hanaro one of the top 3 KOSDAQ-listed companies for transparent corporate governance. The 2006 Corporate Governance Award Ceremony was held at the Korea Exchange (KRX) building today, in the presence of Vice Minister of Finance and Economy, Chairman and CEO of KRX, Chairman of the Korea Listed Companies Association and Chairman of the KOSDAQ Listed Companies Association. In order to encourage Korean companies to improve their corporate governance and enhance management transparency, the KCGS has selected listed companies with good corporate governance practices and honored them every year since 2001. The Corporate Governance Award has three categories: the Best Corporate Governance Award, the Good Corporate Governance Award and the Improved Corporate Governance Award. Together with Webzen and LG Telecom, Hanaro received the Best Corporate Governance Award, coming out on top in all evaluation categories including protection of shareholder rights, the board of directors, the audit committee, investor relations and distribution of profits. In 2005, Hanaro received the Good Corporate Governance Award. At the award ceremony, Byung-Moo Park, Chief Executive Officer and Representative Director of Hanaro, said, "We are honored to be selected as a recipient of the Best Corporate Governance Award this year. It's a leap forward from last year when we received the Good Corporate Governance Award." He added, "By continuing our efforts to improve our corporate governance, we will strive to enhance customer satisfaction and shareholder value." Contacts: hanarotelecom incorporated Investor Relations 822-6266-4524 / 4473 - or - Taylor Rafferty, New York Luis Severiano 1-212-889-4350 Taylor Rafferty, London Erin Gordon 44-20-7614-2900 DATASOURCE: hanarotelecom incorporated CONTACT: Investor Relations, hanarotelecom incorporated, +822-6266-4524 , 4473, ; Taylor Rafferty, New York, Luis Severiano, +1-212-889-4350; Taylor Rafferty, London, Erin Gordon, +44-20-7614- 2900,

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