Dear Readers,

These days, it is a cliché? to say that the newspaper industry is dying. The visible contraction in newspaper subscriptions,
recent news of the sale of the Washington Post and closures or bankruptcies of other newspaper organizations all attest to
this impression.

But, as always, there are exceptional organizations which successfully confront crisis situations not just to survive but
transform and become even stronger. Such is the case of the Korea JoongAng Daily and its association with the New York Times.

Launched in 2000 in the aftermath of the 1998 Asian financial crisis and weathering the 2008 global economic crisis, the
Korea JoongAng Daily has worked strenuously to develop a generation of multitalented and multilingual professional
journalists dedicated to delivering the most relevant news across the political, corporate and cultural spectrum.
This quality is further enhanced by our team of foreign editors and expert Asia hands, with Pulitzer prizes to their credit
and backgrounds at The Wall Street Journal, Financial Times, Time magazine, Forbes and Bloomberg News, among other
organizations.

We claim to be the most relevant English newspaper in Korea because, unlike others, the Korea JoongAng Daily is strictly
dedicated to bringing you the most authoritative and trustworthy reporting about Korea, its politics and business, sports,
art and culture, insightful interviews and editorials from the nation’s opinion leaders. In other words, we claim to best
represent the genuine voices of Korea in English.

As for major headlines around the world, what better source is there than our decade-long partner, the New York Times.
While the International Herald Tribune’s historic masthead will be missed by many when the newspaper becomes the New
York Times, its quality will be fortified through this meaningful brand consolidation in the era of digital media.

Together, the Korea JoongAng Daily and the New York Times constitute the most relevant and comprehensive
English newspaper in Korea.

Thank you for your continued support and interest in our publication.

Respectfully,

Hong Jeong-do
Publisher
Korea JoongAng Daily

Article 1: Freedom of the press

We journalists believe that freedom of press is a fundamental right,
given in order to realize the public’s right to know.
We pledge to defend this freedom from all internal and external abuse,
pressure and restriction.

Article 2: Responsibility of the press

We journalists believe that the press has a great responsibility as an important institution for society. We pledge to exert
all possible effort to inform the public, encourage debate and promote welfare.
We also pledge to actively protect the basic rights of the people.

Article 3: Independence of the press

We journalists insist that the press maintain independence from any external force, including political, economic, social
or religious force. We pledge to reject any attempt to interfere with or unjustly use the press.

Article 4: Reports and critiques

We journalists pledge to report full accounts of the truth accurately, objectively and impartially. Likewise, we pledge to
critique impartially and justly on the basis of truth and honesty, and we pledge to give voice to diverse opinions in order
to contribute to the shaping of honest public opinion.

Article 5: Respecting individual honor and protection of privacy

We journalists pledge to not defame any individual’s character and to not violate anyone’s privacy.

Article 6: Respecting the right to reply and providing the opportunity for media access

We journalists acknowledge that the press is a public institution and pledge to respect the rights of individuals and
particularly endeavor to give readers the opportunity to reply to stories, correct or contradict them and to voice their
opinions in the press.

Article 7: Dignity of journalists

We journalists must hold the pride and dignity of our profession and its practitioners. We pledge to abstain from the use of indecent language and to encourage proper and correct language usage.

Executives and staff members of the Korea JoongAng Daily
Oct. 17, 2000