(published January 6, 2011)

The  template is designed to document single name CDS transactions referencing an entity incorporated in the Republic of Korea. This document is recommended for onshore transactions in Korea only.  This document amends the Exhibit A to 2003 ISDA Credit Derivatives Definitions to incorporate two insolvency proceedings unique to Korean law, namely  (i) the suspension of business by the order of Korean regulators under the Act on the Structural Improvement of Financial Industry that is applicable only to the financial institutions in Korea and (ii) the Corporate Restructuring Promotion Act that is applicable only to the Korean corporations having outstanding indebtedness to Korean financial institutions, to the definition of Bankruptcy Credit Event.  ISDA drafted this document in consultation with the Korea Financial Investment Association.