2010년 감사보고서

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GS

44 2010 01 01 2010 12 31

43 2009 01 01 2009 12 31

I. II.

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- - - - - - - - - - - - - - - - - - - 12

GS 2011 1 25

GS 2010 12 31, 2009 12 31 2009 1 1 2010 12 31 2009 12 31 , , . .

. . . . .

GS 2 010 12 31, 2009 12 31 2009 1 1 2010 12 31 2009 12 31 .

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.

1. 2 30 1311 2010 .

2. 5 1039 101 , 84,588 .

737 10

(2011 1 25) . .

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44 2010 01 01 2010 12 31

43 2009 01 01 2009 12 31

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GS

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44() 2010 12 31 43() 2009 12 31 43() 2009 1 1 GS 5,25,27,28 15 17 14,16,26 5,260,262 36,240 81,444 313,704 5,691,650 5,652,000 40,994 143,025 391,522 6,227,541 4,374,883 84,437 237,914 307,524 5,004,758 5,23,27 5,27,28 17 26 2,936,632 5,931,864 163,916 48,010 9,080,422 2,325,142 5,214,681 28,063 52,580 7,620,466 1,372,278 6,556,693 11,835 55,176 7,995,982 5,27 5,27 13 3,7,12,25 3,8 3,9,10 17 3,26 2,651 756,241 414,550 11,088,490 25,135 107,413 2,555 35,804 12,432,839 22,845,989 913,509 279,890 10,410,764 49,706 105,134 5,549 34,403 11,798,955 21,139,239 1,026,692 230,147 8,986,959 40,641 53,990 5,634 60,773 10,404,836 19,545,578 25,26 4,5,27 5,23,27 5,27 6 760,976 3,976,134 873,036 4,409,724 122 393,158 10,413,150 1,101,202 3,390,052 915,346 3,516,558 12 417,114 9,340,284 2,716,965 2,604,656 1,460,356 1,904,396 11,766 441,866 737 9,140,742 44() 43()

( : ) 43()

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44() 14,772,072 18 18 5,18 18 260,000 66,270 (49,249) 12,770 7,779,401 8,069,192 4,725 8,073,917 22,845,989

43() 13,848,007 260,000 66,270 (35,643) (29,721) 7,029,026 7,289,932 1,300 7,291,232 21,139,239

43() 13,000,740 260,000 66,262 (35,405) (96,223) 6,348,485 6,543,119 1,719 6,544,838 19,545,578

" ."

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44() 2010 1 1 2010 12 31 43() 2009 1 1 2009 12 31 GS ( : )

:

3,19,23 8,21 15,22,23 15,20,22 8,21 3 13 5,23 5

44() 35,315,777 237,935 (33,087,842) (908,958) (356,789) 1,200,123 49,300 1,638,623 (1,914,075) 4,175 978,146 17 (115,831) 862,315 864,635 (2,320)

43() 27,907,971 49,426 (25,994,402) (881,676) (332,550) 748,769 24,769 2,652,124 (2,804,734) (11,168) 609,760 59,270 669,030 669,654 (624)

" ."

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44() 2010 1 1 2010 12 31 43() 2009 1 1 2009 12 31 GS ( ): : 888,388 (2,320) 18 18 5,18 15,18 18 (5,064) (33,025) 81,748 (18,738) (1,168) 886,068 8,132 15,711 51,033 9,997 (8,374) 745,529 746,172 (643) 44() 862,315

( : ) 43() 669,030

" ."

-7-

44() 2010 1 1 2010 12 31 43() 2009 1 1 2009 12 31 GS 2009 1 1() - - - - - 2009 12 31() 2010 1 1() - - - - - 2010 12 31() 260,000 66,270 (13,606) (13,606) (49,249) 12,770 (200,000) 98,519 5,959 (95,522) 7,779,401 (200,000) (13,606) 98,519 5,959 (109,128) 8,069,192 5,745 5,745 4,725 (200,000) (7,861) 98,519 5,959 (103,383) 8,073,917 (5,064) (33,025) (1,168) 81,748 42,491 42,491 864,635 (18,738) (18,738) 845,897 864,635 (5,064) (33,025) (1,168) 81,748 (18,738) 23,753 888,388 (2,320) (2,320) 862,315 (5,064) (33,025) (1,168) 81,748 (18,738) 23,753 886,068 260,000 260,000 8 8 66,270 66,270 (229) (9) (238) (35,643) (35,643) (29,721) (29,721) 871 871 7,029,026 7,029,026 (229) 870 641 7,289,932 7,289,932 224 224 1,300 1,300 (5) 870 865 7,291,232 7,291,232 8,132 15,711 (8,374) 51,033 66,502 66,502 669,654 10,016 10,016 679,670 669,654 8,132 15,711 (8,374) 51,033 10,016 76,518 746,172 (624) (19) (19) (643) 669,030 8,132 15,711 (8,374) 51,033 9,997 76,499 745,529 260,000 66,262 (35,405)

( : ) (96,223) 6,348,485 6,543,119 1,719 6,544,838

" ."

-8-

44() 2010 1 1 2010 12 31 43() 2009 1 1 2009 12 31 GS ( : )

. (1)

44() (52,636) 862,315 1,208,656 439,227 20,151 30,898 246,421 253,856 62,791 25 22,440 115,831 17,016 (349,876) 49,300 172,307 86,492 1,374 1,409 30,673 3,198 2,288 2,835 (1,773,731) (642,673)

43() 280,504 669,030 1,374,538 498,846 20,840 16,942 31,089 241,981 373,072 155,781 15,203 10,590 10,194 (636,810) 59,270 24,769 394,220 116,426 2,427 27,011 2,450 2,928 7,309 (1,126,254) (1,012,132)

(2) (3) (4) ()

-9-

() () ()

44() 64,699 47,280 (891,595) 1,049 663,985 (626,071) (30,026) (20,215) (88,768) (22,809) (2,057) 87,683 (247,513) 9,601 (76,301) (901,558) 320,047 195,630 28,509 34,976 56,805 4,127 (1,221,605) 8,937 63,028 10,678 1,112,372 3,209 23,381 617,293 1,774,770 508,004

43() 655,171 44,642 (1,612,809) (1,854) 1,058,976 (13,450) (3,191) (170) 40,783 (27,286) 5,474 117,396 (361,060) 4,253 (20,997) (2,148,080) 191,183 135,979 8,539 27,119 19,546 (2,339,263) 151,147 166,637 6,861 2,010,133 4,283 202 263,152 3,718,618 2,113,080

() () () () () () , . (1) (2) . (1)

- 10 -

44() 1,266,431 335 (1,157,477) 521,222 414,668 200,000 21,587 (336,901) 1,101,202 (3,325) 760,976

43() 1,605,523 15 (3,455,466) 3,441,886 13,580 (1,604,424) 2,716,965 (11,339) 1,101,202

(2) . . . .

" ."

- 11 -

2010 12 31

GS

1. GS ( "") , Caltex Petroleum Corporation () 1967 , ()GS 50%, Chevron(Overseas) Holdings Ltd. 40%, Chevron Global Energy Inc. 10% . .

, Chevron Global Energy Inc. , . .

2. (1) GS ( "") 1311 . 2011 1 1 , 2010 .

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(25) 2010 12 31 . 2011 1001 , 2013 1109 . 1109 .

- 31 -

3. (1) . .

(2) 4 (, , ) .

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(3) .( : ) 51,066,398 21,315,035 29,751,363 693,239 4,334,894 70,820 4,264,074 425,301 1,296,781 1,003 1,295,778 179,782 6,194 1,632 4,562 (98,199) 56,704,267 21,388,490 35,315,777 1,200,123

- 32 -

.( : ) 39,214,128 16,321,986 22,892,142 (95,862) 3,884,546 31,713 3,852,833 741,259 1,094,766 5,870 1,088,896 120,529 74,197 97 74,100 (17,157) 44,267,637 16,359,666 27,907,971 748,769

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(5) ( ), , . . , , .( : ) 44() 27,709,142 7,606,635 35,315,777 11,225,766 31,076 11,256,842 43() 22,947,738 4,960,233 27,907,971 10,571,002 29,005 10,600,007

4. , .( : ) 44() 7,988 752,988 760,976 43() 6,093 1,095,109 1,101,202 43() 126 2,716,839 2,716,965

- 33 -

5. (1) .( : ) () () 760,976 28,680 80 407,605 158,261 3,385 569,331 (7,624) (48,422) 515,936 5,286,661 84,934 84,934 (1,565) 83,369 133,131 159,587 159,587 159,587 159,590 2,651 760,976 28,680 28,680 28,680 155,713 5,681 517,014 8,531 505 112,815 800,259 (2,236) (3,432) 4,770,725 49,762 49,762 49,762 3 3 3 760,976 4,029,058 (52,924)

.

- 34 -

.( : ) () () 1,101,202 26,656 60 465,487 167,344 21,479 654,370 (7,163) (64,213) 582,994 4,824,339 81,583 81,583 (9,765) 71,818 109,215 258,697 258,697 258,697 258,697 1,101,202 26,656 26,656 26,656 251,657 9,504 486,183 9,170 283 98,081 854,878 (2,012) (1,573) 4,241,345 37,397 37,397 37,397 1,101,202 3,447,646 (57,594)

.

- 35 -

.( : ) () () 2,716,965 466,590 31 465,162 190,391 1,740 657,324 (13,382) (72,706) 571,236 4,123,674 49,039 49,039 (1,265) 47,774 93,758 407,682 407,682 407,682 407,682 2,716,965 466,590 466,590 466,590 169,384 8,127 688,761 9,629 10,529 64,103 950,533 (1,602) (1,149) 3,552,438 45,984 45,984 45,984 2,716,965 2,640,227 (35,571)

.

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.( : ) SC 2,378 10,000 30 214 76

(30C-)

(2) .( : ) () 4,468,130 290,795 503,356 4,318 21,221 40,986 40,986 40,986 117,792 2,336,633 939 1,921,093 99,781 1,062,367 353,470 5,892,075 (1,197) 8,827,510 2,936,632

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( : ) () 40,986 1,826 5,289,646 (29,384) 5,260,262 14,087,772

.

- 38 -

.( : ) () () 43,139 4,494,446 556,395 558,977 11,074 30,249 2,606 5,653,747 (29,865) 5,623,882 13,120,566 28,118 28,118 28,118 28,118 43,139 43,139 43,139 612,148 1,850,094 601 2,531,751 89,076 84,000 3,169 800 5,171,639 (97) 7,496,684 2,325,142

.

- 39 -

.( : ) () 203,596 3,365,888 542,705 422,763 3,611 38,319 3,780 4,377,066 (30,301) 4,346,765 12,072,140 28,118 28,118 28,118 28,118 203,596 203,596 203,596 1,718,555 2,156,302 16,888 2,336,597 74,732 44,000 6,023 6,353,097 7,725,375 1,372,278

.

- 40 -

(3) .( : ) (*) 44() 86,492 1,374 3,198 4,608 302,031 1,068,613 172,307 1,638,623 43() 116,426 2,427 2,450 2,076 258,681 1,875,840 394,220 4 2,652,124

(*) 30,556 37,584 .

(4) .( : ) (*) 44() 253,856 25 52 35,445 392,540 984,363 246,421 1,373 1,914,075 43() 373,072 15,203 8,749 111,027 433,963 1,619,520 241,981 1,219 2,804,734

(*) 7,610 6,117 .

- 41 -

(5) 1) () .( : ) (14,674) 2,368 159,587 3 (*) 3,048 (9) (77,759) (43,587) (41,887) -

(*) . 3,039 .

2) , 6 (: USD 6 JPY 399) 2 (: USD 6), 25 (: USD 1,236) 1 (: USD 100) .

- 42 -

. .( : USD, : ) Barclays Bank Plc. 2004.08.25 ~ 2014.08.25 2004.08.25 ~ 2014.08.25 2007.04.24 ~ 2017.04.24 2007.04.24 ~ 2017.04.24 Barclays Bank Plc. 5 2007.04.24 ~ 2017.04.24 2007.04.24 ~ 2017.04.24 2007.04.24 ~ 2017.04.24 2007.04.24 ~ 2017.04.24 HSBC 4 2007.09.10 ~ 2012.09.10 2008.07.30 ~ 2011.07.30 2008.07.30 ~ 2011.07.30 2008.07.30 ~ 2011.07.30 2008.07.30 ~ 2011.07.30 2008.07.30 ~ 2011.07.30 2008.07.02 ~ 2013.07.02 2008.07.02 ~ 2013.07.02 Calyon 2 2008.07.02 ~ 2013.07.02 2008.07.02 ~ 2013.07.02 2008.07.02 ~ 2013.07.02 MIZUHO 2010.11.09 ~ 2013.11.09 2010.12.30 ~ 2011.01.04 USD 50,000 USD 100,000 USD 50,000 USD 50,000 USD 50,000 USD 50,000 USD 50,000 USD 50,000 USD 300,000 USD 50,000 USD 50,000 USD 30,000 USD 30,000 USD 25,000 USD 100,000 USD 50,000 USD 50,000 USD 50,000 USD 50,000 USD 100,000 USD 1,000 57,550 110,800 46,470 46,470 46,470 46,460 46,205 46,205 281,340 50,500 50,535 30,300 30,279 25,200 115,200 57,600 57,750 57,100 56,500 112,000 -

10,033.

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3) , . 1,170 105 800 104 .

4) 2008 7 1 . 1039 ( ) 101 , 84,588 .

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- 44 -

, , . 1 .

2) . 44() 6.50% 2.91% ~ 5.19% 43() 6.50% 3.92% ~ 5.19% 43() 6.50% 3.92% ~ 5.19%

3) .( : ) (*) 1 40,986 40,986 47,746 42,034 89,780 28,680 10,208 159,590 198,478 2,016 31,127 33,143 28,680 49,762 83,369 159,590 321,401 2 3

(*)

. 1 : 2 : 3 :

- 45 -

.( : ) (*) 1 43,139 28,118 71,257 43,139 28,118 71,257 36,280 61,535 97,815 26,656 258,697 285,353 1,117 10,283 11,400 26,656 37,397 71,818 258,697 394,568 2 3

(*)

. 1 : 2 : 3 :

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.( : ) (*) 1 203,596 28,118 231,714 203,596 28,118 231,714 45,639 38,960 84,599 466,590 407,682 874,272 345 8,814 9,159 466,590 45,984 47,774 407,682 968,030 2 3

(*)

. 1 : 2 : 3 :

- 47 -

6. (1) , .( : ) () 44() 25,553 1,144,116 420,016 245,845 127,987 2,449,167 117 (3,077) 4,409,724 43() 22,755 985,442 285,205 139,523 97,572 1,986,108 27 (74) 3,516,558 43() 16,373 574,537 211,752 59,671 95,685 946,567 30 (219) 1,904,396

(2) .( : ) 44() 3,003 43() (145) ()

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7. (1) .( : ) 2,192,881 2,369,280 450,797 530,376 1,713,305 2,004,994 1,998,176 3,964,204 753,530 766,066 193,735 245,452 3,108,340 1,208,118 10,410,764 11,088,490 166,784 20,597 (4,616) 1,560 (36) 184,289 135,680 119,329 (4,977) 26 6 250,064 235,140 184,771 300 (13,081) 11,037 (606) 417,561 344,865 46,786 (1,074) 390,577 583,735 67,744 (66,309) 641 (7) 585,804 1,466,204 439,227 300 (90,057) 13,264 (643) 1,828,295 2,192,881 2 (32,468) 3,956 204,909 2,369,280 617,581 472 (10,482) 9,316 97,778 714,665 1,848,985 42 (10,453) 162 416,322 2,255,058 2,233,316 3,149 (15,966) 25,270 2,135,996 4,381,765 1,098,395 40,359 (2,342) 20,231 1,156,643 777,470 58,001 (73,002) 1,090 67,697 831,256 3,108,340 1,010,347 (472) 10,236 (2,920,333) 1,208,118 11,876,968 1,112,372 (145,185) 50,030 22,600 12,916,785

(2) .( : ) 2,215,772 2,192,881 454,098 450,797 1,819,757 1,713,305 1,860,415 1,998,176 771,503 753,530 196,548 193,735 1,668,866 3,108,340 8,986,959 10,410,764 148,526 20,218 (279) 2 (1,683) 166,784 12 135,657 11 135,680 3,242 232,667 (543) (226) 235,140 309,005 44,220 (7,817) (543) 344,865 609,278 66,084 (76,474) 73 (15,226) 583,735 1,070,063 498,846 (85,113) 86 (17,678) 1,466,204 2,215,772 4 (21,181) (5,055) 110 3,231 2,192,881 602,624 2,552 (1,769) 2 14,172 617,581 1,819,769 31 (4) 31 29,158 1,848,985 1,863,657 2,062 (1,175) 368,772 2,233,316 1,080,508 1,049 (16,902) 33,740 1,098,395 805,826 20,328 (78,863) 154 30,025 777,470 1,668,866 1,984,107 (544,633) 3,108,340 10,057,022 2,010,133 (119,894) (5,055) 297 (65,535) 11,876,968

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(3) . .( : ) , , , 5,379 50,218 6,107 1,440 61,990 3,300 2,194 3,900 7,647 1,440 14,626

. .( : ) , , , GS() 5,425 6,597 46,219 6,093 64,316 3,300 2,194 6,597 3,900 7,507 23,498

. .( : ) , , , GS() 5,413 6,597 46,219 500 6,093 130 64,946 3,300 2,194 6,597 4,400 7,637 24,128

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(4) .( : ) 44() 144,064 43() 89,114

8. (1) .( : ) 47,215 23,919 2,491 1,216 49,706 25,135 515 90 (389) (59) 157 515 90 (389) (59) 157 47,215 (3,381) (19,915) 23,919 3,006 (795) (838) 1,373 50,221 (4,176) (20,753) 25,292

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(2) .( : ) 37,844 47,215 2,797 2,491 40,641 49,706 460 135 (1,359) 1,279 515 460 135 (1,359) 1,279 515 37,844 (7,243) 16,614 47,215 3,257 (3,834) 3,583 3,006 41,101 (11,077) 20,197 50,221

(3) .( : ) 44() 84 (419) (335) 43() 191 (303) (112)

(4) , .( : ) 44() 25,135 25,364 43() 49,706 50,609 43() 40,641 40,641

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9. (1) .( : ) (*) 24,224 27,077 30,787 29,980 50,123 50,356 105,134 107,413 2 2 99,717 15,233 (3,877) 1 111,074 15,771 4,916 (603) 4 20,088 115,488 20,151 (4,480) 5 131,164 24,224 2,927 (72) 27,079 130,504 14,167 126 (3,898) 3 152 141,054 65,894 3,168 1,006 78 (1,273) 47 1,524 70,444 220,622 17,335 1,006 3,131 (5,243) 50 1,676 238,577

(*) 2010 8 .

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(2) .( : ) 24,229 24,224 15,066 30,787 14,695 50,123 53,990 105,134 84,017 16,212 (503) (9) 99,717 11,163 4,628 (7) (13) 15,771 95,180 20,840 (510) (22) 115,488 24,229 (5) 24,224 99,083 25,809 (954) (24) 6,590 130,504 25,858 2,759 1,071 (7) (328) 36,541 65,894 149,170 28,568 1,071 (961) (352) 43,126 220,622

(3) 41,697 36,973 .

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10. , .( : ) 44() 23,696 2,903 478 27,077 43() 23,696 528 24,224 43() 23,696 533 24,229

(1) . 15 10% . 15 15 15 ("0")% . .

(2) . 5 10% . 5 ("0")% . .

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(3) GS .

(4) , , , .

11. (1) . GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS GS Caltex Lube India Pte., Ltd. GS GS GSC (Suzhou) Plastics Co., Ltd. 100% 99.69% 100% 100% 100% 94.68% 100% 100% 100% 100% 100% 100% 90.09% 100% 100% 100% 100% 100% 50% 41.80% 50% 100% 100% 99.69% 100% 100% 100% 94.68% 100% 100% 100% 100% 100% 100% 90.09% 100% 100% 100% 100% 100% 50% 41.80% 50% 100% , ,

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(2) . GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS GS 100.00% 99.27% 100.00% 100.00% 100.00% 76.88% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 85.95% 100.00% 100.00% 100.00% 100.00% 100.00% 99.27% 100.00% 100.00% 100.00% 76.88% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 85.95% 100.00% 100.00% 100.00% 100.00% ,

(3) . GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS 100.00% 98.73% 100.00% 100.00% 100.00% 74.62% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 85.95% 100.00% 100.00% 100.00% 100.00% 98.73% 100.00% 100.00% 100.00% 74.62% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 85.95% 100.00% 100.00% 100.00% ,

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(4) , , GS, GS, , GS Caltex Lube India Pte., Ltd., GSC (Suzhou) Plastics Co., Ltd. . , .( : ) 5,396 200 3,000 2,493 663 4,486 () 2,903 (463) (1,486)

2010 GS 17.80% , GS 76.88% 94.68% . GS 3,766 . 48 , 3,421 .

2010 1, GS 4.14% , GS 85.95% 90.09% . GS 6,011 . 80 , 71 .

, 2010 12, GS , GS 99.27% 99.69% . GS 22,209 . 44 , 44 .

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GS, GS, GS .( : ) GS 1,731 5,162 (3,327) 3,566 GS 4,523 2,929 (2,036) 5,416 GS 5,398 19,352 (2,609) 22,141

12. (1) . Block A Block 122 Block 7 TUNA Block 7 15.00% 30.00% 15.00% 45.00% 15.00%

(2) . Block A Block 122 15.00% 30.00% 15.00%

(3) . Block A 15.00% 30.00%

- 59 -

13. () 49,300 24,769 . 2009 1,2 60 566 , 2010 , 1,890 , 566 5,760 .

() .( : ) 44 () (*) GS24 43 () (*) GS24 35.00% 19.00% 25.30% 20.00% 50.00% 50.00% 185,683 297,237 784,380 708,498 20,002 41,746 2,037,546 80,365 164,452 369,814 390,072 1,293 28,010 1,034,006 257,556 505,544 200,251 1,734,709 7,562 2,705,622 9,297 13,135 28,736 90,038 (1,088) 251 140,369 35.00% 19.00% 26.72% 20.00% 50.00% 50.00% 186,793 319,288 1,075,088 920,380 19,606 46,285 2,567,440 80,251 172,299 359,036 455,195 1,501 28,802 1,097,084 286,350 601,293 207,607 1,871,963 9,212 378 2,976,803 11,439 17,167 30,923 174,719 (604) (5,849) 227,795 ()

(*) 17,644 , 16,305 . .

- 60 -

14. (1) , 2002 12 26 ' ' , , . 60,309 .

(2) , 8,726 .

15. (1) . , 58() .

2010 12 31 . .

- 61 -

(2) , . 44() 4.50% ~ 6.25% 4.00% ~ 4.90% 3.00% ~ 7.00% 43() 5.50% ~ 8.00% 5.00% 2.50% ~ 7.00% 43() 5.50% ~ 8.25% 5.00% 2.50% ~ 7.00%

(*) (AA0) .

(3) , .( : ) 44() 197,258 (161,018) 36,240 43() 201,655 (160,661) 40,994 43() 230,263 (145,826) 84,437

(4) .( : ) 44() 201,655 (63,804) 25,562 12,414 21,955 1,332 (1,856) 197,258 43() 230,263 (56,611) 20,022 17,033 (9,985) 270 663 201,655

- 62 -

(5) .( : ) 44() 160,661 33,418 (40,995) 7,438 (168) 509 155 161,018 43() 145,826 35,893 (29,233) 6,814 1,315 46 160,661

(6) , .( : ) 44() 29,520 39,407 92,091 161,018 43() 88,077 72,584 160,661 43() 79,048 66,778 145,826

. 12 .

(7) 7,270 8,129 .

- 63 -

(8) .( : ) 44() 25,562 12,414 (7,438) 360 30,898 43() 20,022 17,033 (6,814) 848 31,089

(9) .( : ) 44() 15,212 15,113 573 30,898 43() 13,438 15,512 2,139 31,089

(10) .( : ) 44() 11,300 (22,123) (10,823) 43() 11,300 11,300

- 64 -

16. (1) GS& , . . , . 64,256 .

(2) 2,3- . 2010 41 2015 3 31 5 , 40% . 10 . 6,277 .

(3) , 174,136 .

- 65 -

17. (1) .(: ) () 44() 193,227 13,100 (58,588) (31,908) 115,831 43() 15,650 1 (94,803) 19,882 (59,270)

(2) .(: ) 44() 978,146 24.2% 234,437 (1,653) (91,318) (8,660) (22,657) 5,682 115,831 11.8% 43() 609,760 24.2% 147,562 16,303 (223,390) 742 (914) 427 (59,270) -

- 66 -

(3) () . ( : ) / / 10,483 5,343 15,225 73,064 (13,416) (19,736) 2,286 185 12 (1,105) (6,650) (1,304) (546) 5,393 (9,096) (301,660) (38,497) 31,296 (24,643) (38,487) (137,212) 40,293 (408,772) 271,296 (137,476) 24,802 (1,966) 10,354 26,622 16,339 3,648 (4,068) (362) 3,048 201 22,657 10,998 (20,283) (11,495) 80,495 10,000 90,495 (15,867) 1,575 1,283 4,158 8,239 (31,296) (31,908) (31,908) 35,285 3,377 25,579 99,686 2,923 (31,955) (1,782) 185 12 470 (5,367) 2,854 (546) 5,031 (857) (298,612) (38,296) (1,986) (27,489) (157,495) 28,798 (360,185) 281,296 (78,889)

- 67 -

( : ) / / 7,842 3,869 13,459 80,445 (47,302) (11,936) (2,226) 166 12 (3,282) (4,043) 7,909 4,834 (17,447) (306,082) (39,159) 54,041 (25,557) (121,919) (68,741) 34,450 (440,667) 139,368 69,019 208,387 (232,280) 2,641 1,474 1,766 (7,381) 33,886 (3,369) 4,512 19 (8,455) 559 4,410 914 83,432 (68,471) 5,840 51,777 (139,368) 202,277 62,909 114,686 (4,431) 2,177 (2,607) (1,304) 8,351 12 662 (22,745) 3 (19,882) (19,882) 10,483 5,343 15,225 73,064 (13,416) (19,736) 2,286 185 12 (1,105) (6,650) (1,304) (546) 5,393 (9,096) (301,660) (38,497) 31,296 (24,643) (38,487) (137,212) 40,293 (408,772) 271,296 271,296 (137,476)

- 68 -

(4) .( : ) 1,466 64 964 2,494

18. (1) , , 1 27,000,000, 26,000,000 10,000 .

(2) , ( : ) 44() 2,554 23,311 (12,812) 3,896 16,949 (4,179) 12,770 43() 4,366 29,853 28,913 (142,255) 41,345 (37,778) 8,057 (29,721) 43() 14,194 19,114 8,312 (245,640) 79,304 (124,716) 28,493 (96,223)

(3) .

- 69 -

(4) . 2010 1 1 44() 2010 12 31 2011 2 24 43() 2009 12 31 2010 2 4 2009 1 1

GS . . ((): :13,308 (133.08% ) : 7,692 (76.92% )) . (346,000) 6,301,339 (734) (14,819) 716,196 (346,000) 44() 7,001,982

( : ) 43() 6,501,339 5,913,500 872 12,695 574,272 (200,000) (200,000)

6,655,982

6,301,339

(5) .(:) 44() 26,000,000 10,000 133.08% 346,000,000,000 13,308 43() 26,000,000 10,000 76.92% 200,000,000,000 7,692

- 70 -

19. .(: ) 44() 15,576,773 22,413 15,599,186 19,716,591 19,716,591 35,293,364 22,413 35,315,777 12,570,888 45,924 12,616,812 43() 15,291,159 15,291,159 27,862,047 45,924 27,907,971

20. .( : ) 44() 210,976 15,394 26,675 99,936 55,107 125,001 72,051 84,231 85,519 16,417 117,651 908,958 43() 172,082 15,512 26,107 109,152 60,427 158,612 78,943 86,880 34,786 17,359 121,816 881,676

- 71 -

21. (1) .( : ) : 44() 176,847 2,288 436 2,630 9,684 781 45,269 237,935 43() 7,688 2,928 1,074 365 1,205 9,645 1,173 25,348 49,426

(2) .( : ) : 44() 218,734 22,440 1,117 419 24,565 89,514 356,789 43() 208,736 10,590 353 303 25,260 87,308 332,550

- 72 -

22. .( : ) , 44() 31,935,833 463,040 459,378 241,685 72,450 351,108 90,980 37,725 344,601 33,996,800 43() 25,011,376 402,501 519,686 158,634 79,048 338,089 42,083 37,883 286,778 26,876,078

23. (1) , . 44() GS Chevron (Overseas) Holdings Ltd. Chevron Global Energy Inc. GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS 43() GS Chevron (Overseas) Holdings Ltd. Chevron Global Energy Inc. GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS GS 43() GS Chevron (Overseas) Holdings Ltd. Chevron Global Energy Inc. GS GS GS Caltex Singapore Pte., Ltd. GS GS() GS() GS() GS() GS() GS GS GS

- 73 -

44() GS Caltex Lube India Pte., Ltd. GS GS GSC (Suzhou) Plastics Co., Ltd GS24 Block A

43() GS24 Block A Block 122 Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron Products Com pany Chevron Oronite Pte., Ltd. Chevron Singapore Pte., Ltd. Chevron Products UK Ltd. Chevron South Korea IP Holdings Ltd. GS GS GS GS Arom atics Pte., Ltd. Qingdao Lidong Chem Co., Ltd. ical GS

43() GS24 Block A Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron Products Com pany Chevron Oronite Pte., Ltd. Chevron Singapore Pte., Ltd. Chevron Products UK Ltd. Chevron South Korea IP Holdings Ltd. GS GS GS GS Arom atics Pte., Ltd. Qingdao Lidong Chem Co., Ltd. ical -

Block 122 Block 7 TUNA Block 7 Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron Products Com pany Chevron Oronite Pte., Ltd. Chevron Singapore Pte., Ltd. Chevron Products UK Ltd. Chevron South Korea IP Holdings Ltd.

GS GS GS GS Arom atics Pte., Ltd. Qingdao Lidong Chem Co., Ltd. ical GS

GS Arom atics (Qingdao) Chem Co., Ltd. GS Arom ical atics (Qingdao) Chem Co., Ltd. ical

- 74 -

(2) .(: ) GS Chevron (Overseas) Holdings Ltd. Chevron Global Energy Inc. GS GS GS Caltex Singapore Pte., Ltd. GS() GS GS() GS() GS() GS() GS GS GS Caltex Lube India Pte., Ltd. GS GS 44() 321 32,426 100,000 80,000 20,000 1,752 5,000 68,814 39,833 6,825,004 5,792 14,215,753 55,283 471 2,300 147 12 175 14 2 95 3,100 34,108 47,789 82,614 373 1,133 2,462 8,369 4,326 18,207 5,107 3,357 22 151 400 1,010,253 5,760 43() 300 27,350 6,669 2,600 56,282 24,052 4,406,611 11,575,676 23,868 430 2,300 68 17 107 23,893 38,026 88,756 322 29 1,902 6,437 2,282 16,163 1,018,630 -

- 75 -

(: ) GS24 Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron Products Com pany Chevron Singapore Pte., Ltd. Chevron Products UK Ltd. Chevron Oronite Pte., Ltd. GS GS GS GS Arom atics Pte., Ltd. GS Arom atics (Qingdao) Chem Co., Ltd. ical Qingdao Lidong Chem Co., Ltd. ical Chevron South Korea IP Holdings Ltd. GS 44() 1,994 566 1,890 36,828 117 944 323 1,301,965 7,535,349 41,614 147,676 65,710 466,019 135 28,107 28,546 13,324 86 338,234 40,896 111,832 950 74,419 29,654 17,538 326 31,864 2,744 79 17,281 12,622 5,919 43() 7,415 566 1,260 7 36,782 225 1,051 32 1,515,582 6,621,140 37,756 96,796 72,365 295,449 592 55,423 26,468 14,704 44 746,373 39,368 88,814 754 61,421 32,365 8,349 180,864 56,844 79 13,045 -

- 76 -

(3) , .(: ) GS GS GS GS Caltex Singapore Pte., Ltd. GS() GS GS() GS() GS GS GS Caltex Lube India Pte., Ltd. GS GS24 () Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron South Korea IP Holdings Ltd. Chevron Products Com pany Chevron Singapore Pte., Ltd. Chevron Products UK Ltd. Chevron Oronite Pte., Ltd. GS GS GS GS Arom atics Pte., Ltd. GS Arom atics (Qingdao) Chem Co., Ltd. ical Qingdao Lidong Chem Co., Ltd. ical GS 44() 9,227 46,019 28,472 1,556 1,179 3,618 8,716 7,580 38 587 2,639 2,082 1,500 308,622 11 9,728 107,310 7,643 7 14,058 34,063 2,397 53 22,274 15,900 2,181 358 3,685 1,270 3,659 343 293 711 50 850 709 3,818 29 717,825 3,109 438 814 12,885 4,134 6,913 127 396 43() 9,227 13 38,836 426,888 8,911 40 1,825 2 13,584 7,641 2 347 88 232,973 16 20 133,931 6,782 7 9,694 30,446 2,423 45 18,430 17,731 2,560 20,411 2,947 998,816 1,270 1,168 898 343 6 633 138 223 4,003 77 574,938 404 1,319 41,412 10,079 51 43() 8,361 5,787 49,852 342,206 14,147 6 1,815 1,473 9,941 28 200 171 178,081 51 141,709 19,532 8,883 13,595 44 13,362 31,300 13,592 434,946 445 864 236 3,798 241 251,442 3,567 1,847 52,401 8,996 13 3,177 -

601,776 1,250,226

- 77 -

(4) , .(: ) GS Caltex Singapore Pte., Ltd. GS() GS GS() GS() GS GS GS GS Caltex Lube India Pte., Ltd. GS GS GS Qingdao Lidong Chem Co., Ltd. ical Chevron U.S.A. Inc. Chevron Global Marine Products LLC Chevron Products Com pany Chevron Products UK Ltd. Chevron Singapore Pte., Ltd. GS Arom atics Pte., Ltd. GS Arom atics (Qingdao) Chem Co., Ltd. ical () 44() 6,018 285 16 12 36 460 87 76 6 26 21 15 3,086 97 1 223 4 1,073 76 141 24 341 159 22 1,749 196 16 12 18 72 (25) 3 26 21 15 756 97 1 39 4 (204) (266) 8 44 37 (18) (4) 43() 4,269 89 18 388 112 76 3 2,330 184 204 1,339 68 97 24 305 177 26 847 (52) (111) (15) (58) 112 (23) 1 549 50 (109) (78) (127) 8 24 169 177 26 43() 3,422 141 18 499 15 58 99 2 1,781 134 313 1,417 195 89 136 -

- 78 -

(5) GS , GS .

24. (1) .( : ) 46,500

.

(2) .( : USD, : ) SC 8 7 CP 44() 188,000 230,000 USD 1,000,000

1) GS() GS 2000 6 22 , , " " . 2018 8 31 , .

- 79 -

GS , 2000 6 22 "" . , 18 . , 2004 6 1 5 " " .

GS , 2007 12 31 " " . 562,000 650,000 2022 12 31 , .

GS , , .

2) . 2019 12 31 , 5 .

- 80 -

3) , 2015 12 31 , 5 .

, 12,000.

4) GS GS 332 , . 1,742(: 1,729 ) .

GS 3,500 , 3000 , 1,300 .

GS 39 1 6 () . .

GS , 7,557 (: 6,211 ), 70 (: 120 ).

- 81 -

25. (1) .( : ) 44() 47,511 43() 6,917

(2) .( : ) 44() 47,245 13,322 60,567 43() 6,917 801 7,718

(3) , .( : ) 56,838 43,179 45,633 9,377 27,608 10,588 14,552 9,091 13,750 44() 43() 43()

- 82 -

26. (1) , .( : ) 2,974 32,934 (104) 35,804 428,962 3,423 31,087 (107) 34,403 451,517 29,929 30,957 2 (115) 60,773 502,639 333,975 59,183 393,158 344,737 72,377 417,114 315,124 126,742 441,866 44() 43() 43()

(2) , .( : ) 244,669 69,035 313,704 361,714 240,461 151,061 391,522 444,102 595 231,391 75,538 307,524 362,700 47,469 541 48,010 50,824 1,756 52,580 54,410 766 55,176 44() 43() 43()

- 83 -

27. (1) (, , ), , . .

. , , , . . . , .

, .

(2) . , . .

, . , . . . . .

- 84 -

, .( : ) 44() 3,872,800 680,029 1,629,778 238,285 6,420,892 43() 4,846,418 532,787 540,600 466,090 6,385,895 43() 6,493,800 670,777 540,402 177,545 7,882,524

, .

5,401,299 5,358,370 .( : ) 30 8,518 (63) 8,455 30 90 5,758 (5,410) 348 90 28,653 (24,436) 4,217 42,929 (29,909) 13,020

- 85 -

(3) . .

.( : ) 8,869,693 3,979,209 3,979,209 1,310,437 1,310,437 5,289,646 14,159,339 2,936,632 5,933,061 8,869,693 2,936,632 5,933,061 8,869,693 1 1 ~ 5 5

.

(4) , , .

1) , , . .

. . .

- 86 -

.

2) . , .

.

3) 1 , . , .

(5) . . VaR(Value at Risk) . VaR . , VaR . VaR . , VaR VaR .

- 87 -

1) VaR . 99% . 10 . VaR 1 , . VaR , . USD JPY. (Dubai), Mogas, Naphtha, Kero, Gasoil, HSFO(180cst) MOPS (Mean of Platts Singapore Price) MOPJ(Mean of Platts

Japan Price) . (Calendar Spread) . ("0") . . ("0") .

2) Value at Risk(VaR) ( : ) 204,306 18,665

- 88 -

28. (1) , .( : USD, : ) : '01 (USD 300,000) '04 (USD 300,000) '05 (USD 300,000) '06 (USD 200,000) '07 (USD 500,000) '08 (USD 300,000) '08 (USD 185,000) '10 (USD 100,000) '00(KRW 100,000) '08 (KRW 40,000) '08 (KRW 160,000) '08 (KRW 100,000) '08 (KRW 300,000) '09 (KRW 400,000) '09 (KRW 100,000) '09 (KRW 200,000) '09 (KRW 300,000) '09 (KRW 220,000) '09 (KRW 180,000) '10 (KRW 230,000) '10 (KRW 200,000) '10 (KRW 150,000) '10 (KRW 150,000) '10 (KRW 150,000) '10 (KRW 100,000) '10(KRW 1,000) '09(KRW 1,000) : : 341,670 341,670 341,670 227,780 569,450 341,670 210,697 113,890 100,000 160,000 100,000 300,000 400,000 100,000 200,000 300,000 220,000 180,000 230,000 200,000 150,000 150,000 150,000 100,000 1,000 1,000 5,530,497 (1,061,170) (25,090) 4,444,237 350,280 350,280 350,280 233,520 583,800 350,280 216,006 144,000 40,000 160,000 100,000 300,000 400,000 100,000 200,000 300,000 220,000 180,000 4,578,446 (84,000) (28,300) 4,466,146 377,250 377,250 377,250 251,500 628,750 377,250 44() 43() 43() 7.75% 5.50% 5.50% 6.00% 5.50% 7.25% 2011.07.25 2014.08.25 2015.10.15 2016.08.08 2017.04.24 2013.07.02 2011.07.30 2013.11.09 2012.08.14 2011.11.13 2012.11.13 2011.07.30 2012.03.04 2012.05.08 2014.05.08 2014.08.25 2013.10.23 2016.10.23 2013.03.07 2015.03.07 2015.09.14 2017.09.14 2015.11.09 2017.11.09 2011.11.22 2012.05.17

232,638 LIBOR+2.00% - LIBOR+1.40% 144,000 40,000 160,000 100,000 300,000 3,365,888 (44,000) (29,014) 3,292,874 10.60% 7.74% 7.79% 6.49% 5.19% 4.81% 5.47% 5.49% 5.48% 6.08% 4.70% 5.03% 4.23% 4.47% 4.52% 4.73% 8.00% 1.00%

.

- 89 -

(2) , . ( : ) Deutsch Bank SCB JP SC 5.74% 5.68% ~ 6.55% 5.17% ~ 6.90% 6.40% 5.13% ~ 5.38% 3M LIBOR + 3.00% LIBOR + 0.90% 3M LIBOR + 3.00% 4.86% ~ 7.68% LIBOR + 3.00% 1.07% ~ 1.75% 1.19% ~ 3.18% 44() 2,500 19,100 1,439 200 4,200 3,427 56,945 10,282 12,844 6,855 2,331,050 5,583 2,454,425 43() 1,200 1,203 8,176 58,380 16,352 9,227 23,352 271,333 222,925 1,776,009 74,085 2,462,242 43() 201,200 2,291 1,841 8,807 17,615 992 1,650 25,150 159,940 1,299,070 2,156,302 3,874,858 CP CP (USD) (KRW)

- 90 -

( : ) 44() 43() 43() 649 917 17 300 1749 177,500 289 3,624 3,706 47,985 508 30,700 300,000 30,000 1,492 599,436 (308,641) 290,795 673 1,000 18 1,422 1,600 177,500 406 4,254 4,357 37,712 612 300,000 30,000 559,554 (3,169) 556,385 309 1,568 19 1,672 10,590 177,500 524 4,823 5,073 697 2.50% 3.75% 5.20% 3.85% ~5.45% 6.70% 2.25% 2.25% 3.50% 3.52% 5.70% 2013 2019 2025 2011 2016 2014 2016 2018 2018 2015~2020 2017 2016 2011 2018 2020 :

- 2.00% ~3.00%

33,188 1.5% ~ 2.75%

282,765 5.45% ~ 7.37% 30,000 4.50% ~ 5.50% 548,728 (6,023) 542,705 3.52%

( : USD, JPY, : ) 44() USD 49,906 USD 300,000 JPY 10,723,710 56,838 341,670 43() USD 36,981 USD 300,000 43,179 350,160 165,638 558,977 (1,283) 557,694 43() USD 36,289 USD 300,000 45,633 1.25% 3.75% 2012

377,130 3M LIBOR+0.40%

149,819 JPY 13,116,542 548,327 (44,828) (1,179) 502,320

2.43% 2011 ~ 2014 6M LIBOR+2.20% 422,763 (295) 422,468

: :

- 91 -

29. .( : ) 44() 2,920,333 108,124 3,028,457 43() 544,633 95,260 639,893

30. , 2010 1 1 2010 . 2009 1 1 1101( ) .

, .

(1) 1101 1101( ) , .

. .

- 92 -

. .

. 1037(, ) .

. 2007 1 1 .

(2) .

() .

. . , .

- 93 -

.

, .

, .

, .

, .

12 , .

- 94 -

1 , .

.

. .

, ,

- 95 -

(3) 2009 1 1 .(: ) 2,711,103 2,695,913 1,763,615 1,918,944 11,766 371,594 146,240 9,619,175 712,124 220,147 8,840,910 92,156 38,451 9,903,788 19,522,963 12,889 12,889 12,889 154,665 154,665 154,665 (1,426) (1,426) (1,426) 5,862 (91,257) (303,259) (14,548) 70,273 736 (146,240) (478,433) 314,568 10,000 (21,505) 40,641 (38,166) 22,322 7,060 334,920 (143,513) 2,716,965 2,604,656 1,460,356 1,904,396 11,766 441,867 736 9,140,742 1,026,692 230,147 8,986,959 40,641 53,990 60,773 5,634 10,404,836 19,545,578 2009 ,~,, , 2009

1,496,485 6,598,941 45,642 11,835 8,152,903 4,331,348 78,442 348,606 595 4,758,991 12,911,894 260,000 1,597,845 (34,739) 3,780 3,780 3,780 154,665 154,665 154,665 146 146 5,326 484 5,810 5,956 23,501 23,501 23,501 (124,207) (42,394) 9,534 (157,067) 39,755 669 (111,176) 128,763 58,011 (99,056) (1,531,583) (666) 1,372,278 6,556,693 55,176 11,835 7,995,982 4,374,883 84,437 237,914 307,524 5,004,758 13,000,740 260,000 66,262 (35,405)

- 96 -

(: ) 2009 948,475 3,829,500 6,601,081 9,988 6,611,069 19,522,963 12,889 12,889 12,889 12,889 (3,780) (3,780) (3,780) 154,665 (7,382) (7,382) (7,382) (1,426) (23,501) (23,501) ,~,, , (1,044,698) 2,517,258 (59,689) 15,232 (44,457) (143,513) 2009 (96,223) 6,348,485 6,543,119 1,719 6,544,838 19,545,578

- 97 -

2009 12 31 .(: ) 1,096,527 3,124,243 1,162,246 3,514,452 348,391 12 302,161 9,548,032 757,447 260,874 10,262,256 94,238 44,298 11,419,113 20,967,145 28,012 28,012 28,012 164,856 164,856 164,856 (559) (559) (559) 4,675 265,809 (246,900) 2,106 68,723 (302,161) (207,748) 156,062 19,016 (44,360) 49,706 10,896 6,108 (9,895) 187,533 (20,215) 1,101,202 3,390,052 915,346 3,516,558 417,114 12 9,340,284 913,509 279,890 10,410,764 49,706 105,134 5,549 34,403 11,798,955 21,139,239 2009 ,~,,, 2009

2,099,339 5,439,758 22,657 28,063 7,589,817 5,607,400 49,048 393,699 10,294 6,060,441 13,650,258 260,000 1,597,845 (34,686) 1,001,846 4,482,483 7,307,488 28,012 28,012 2,606 2,606 2,606 (2,606) (2,606) 164,856 164,856 164,856 (8,952) 388 (8,564) (8,564) 8,005 8,005 225,803 (225,077) 29,923 30,649 41,994 898 (251,062) 216,372 8,202 38,851 (1,531,575) (957) (1,031,567) 2,513,132 (50,967) 2,325,142 5,214,681 52,580 28,063 7,620,466 5,652,000 40,994 143,025 391,522 6,227,541 13,848,007 260,000 66,270 (35,643) (29,721) 7,029,026 7,289,932

- 98 -

(: ) 2009 9,399 7,316,887 20,967,145 28,012 28,012 (2,606) 164,856 8,005 (559) ,~,,, (8,099) (59,066) (20,215) 2009 1,300 7,291,232 21,139,239

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(4) 2009 .(: ) 2009 27,919,607 38,668 (25,951,582) (917,893) (40,346) 1,048,454 2,588,805 (2,996,724) 22,410 (81,410) 581,535 70,675 652,210 8,210 15,809 51,033 (14,496) (7,185) 53,371 705,581 (15,462) 30,585 15,123 15,123 15,123 15,123 1,173 1,173 1,173 1,173 1,173 4 (172) 12,190 12,022 (8,872) 3,150 (89) 3,061 3,061 48 (33,563) 57,016 23,501 23,501 23,501 23,501 9,645 (6,657) (2,988) ,~,,, (11,684) (64) (60,586) (292,204) (351,504) 72,191 191,990 2,359 70,242 (14,722) (11,316) (26,038) (78) (98) 9,997 14,496 (1,189) 23,128 (2,910) 2009 27,907,971 49,426 (881,676) (332,550) 748,769 2,652,124 (2,804,734) 24,769 (11,168) 609,760 59,270 669,030 8,132 15,711 51,033 9,997 (8,374) 76,499 745,529

13,034 (25,994,402)

(5) , () () . .

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