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PROTOCOL

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..... ing provisions shall form an integral part of the Agreement. 2. With reference to Article 13(Capital Gains), it is understood that the term shares of the capital stock of a company the property of which consists directly or indirectly principally of immovable property means shares deriving more than 50 per cent of their value directly or indirectly from immovable property ; .....

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..... x and other taxes on income imposed thereon in Korea. IN WITNESS WHEREOF the undersigned, duly authorized thereto by their respective Governments, have signed this Protocol, which shall have the same force and validity as if it were inserted word by word in the Agreement. DONE in duplicate at Seoul, this 18th day of May, 2015, in the Hindi, Korean and English languages, a .....

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