Hanarotelecom Inc – ‘6-K’ for 1/2/03 – EX-99.3

On:  Thursday, 1/2/03, at 8:24am ET   ·   For:  1/2/03   ·   Accession #:  1145549-3-2   ·   File #:  1-15012

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Report of a Foreign Private Issuer   —   Form 6-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Hanaro Telecom, Inc. Form 6-K                          4     15K 
 2: EX-99.1     Clarification on Consolidation With Korea Thrunet      1      5K 
 3: EX-99.2     Press Release Dated December 30, 2002                  3     18K 
 4: EX-99.3     Notice on Foreign Investment                           2      9K 
 5: EX-99.4     Notice of Extraordinary Shareholders' Meeting          2±    12K 
 6: EX-99.5     Notice of Proposed Rights Issue                        4     37K 
 7: EX-99.6     Notice on Proposed Issue of Convertible Bonds          8±    58K 
 8: EX-99.7     Notice of Proposed Equity Investment                   3     26K 

EX-99.3   —   Notice on Foreign Investment

EX-99.3
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                                                                    EXHIBIT 99.3

                                                           [English Translation]

                                                               December 30, 2002

Hanaro Telecom, Inc.

 Board of Directors Resolution on Foreign Investment in Hanaro Telecom, Inc.

Hanaro Telecom, Inc. (the "Company") gives notice of the resolution passed by   
the board of directors of the Company on December 30, 2002, regarding the       
approval of the foreign investment in the Company, as follows:                  

1.   Type of Investment: Syndicated Loan                                        

2.   Total Amount of Investment: USD700 million (tentative)                     

3.   Maturity: 5 Years                                                          

4.   The terms and conditions, including Interest rate and method of interest   
payment, are currently being negotiated.                              

5.   Conditions precedent                                                       

     -    At a shareholders meeting, amendments to the Articles of Incorporation
        and appointment of directors will be proposed necessary to allow the
participation of investors in the Company's management.     

     -    The Company shall acquire a 71.95% of stake in Korea Thrunet Co., Ltd.

6.   Representations & Warranties                                               

   -    The Company shall follow necessary procedures for board of directors
meetings and a shareholders meeting.                        

     -    The Company shall obtain all legal permissions and approvals necessary
for the transaction.                                        

7.   Participation of investors in the Company's management                     

-    Nomination of 6 directors including a representative director    

-    Nomination of CFO                                                

8.   Delegation of Authority                                                    

-    Any decision making authority in relation to finalizing the total
 issue amount, total number of shares to be issued, conditions
          precedent, representation & warranties, and covenants and execution of
         the agreement shall be delegated to the Representative Director & CEO
(including the Acting CEO in the absence of a CEO).         

EX-99.3
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-    All decision-making authority in relation to the signing of an   
 Investment Agreement, Disclosure Schedules, and supplementary
       agreements including an Investor's Rights Agreement, Employment and
      Non-Competition, and Management Rights Agreements, and drafting of
  necessary attachments shall be delegated to the Representative
  Director & CEO (including the Acting CEO in absence of a CEO.)

9.   The lead managers for the loan and the terms and conditions currently under
     negotiation, including interest rate and payment method, will be filed once
such terms and conditions are finalized at a later date.              

10.  Date of the Board of Directors resolution: Monday, December 30, 2002,      
Presence of outside directors: present (3), absent (2)                
Presence of auditor: present                                          

Dates Referenced Herein

				Referenced-On Page
This ‘6-K’ Filing		Date		First		Last			Other Filings
Filed on / For Period End:		1/2/03							None on these Dates
		12/30/02		1		2
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