Justin

Summary for Taiwan:

? Generally free to trade physical/derivatives oil and metals.

? Certain commodities may be restricted/prohibited.  No import permit 
required for :
- aluminium (not alloyed and unwrought);
- nickel (unwrought), nickel powders, flakes, bars and rods; 
- tin (not alloyed and unwrought), and tin bars and rods; 
- copper ores and concentrates, copper oxides and copper hydroxides; and 
- zinc (not alloyed) ores and concentrates, hard sinc spelter.

? Importer,s responsibility to obtain aproval for restricted/prohibited 
commodities.

? Local counterparties are permitted to purchase USD50 million each calendar 
year beyond which Central Bank approval required on a case by base basis.

? Possible withholding tax impact (up to 20%) on derivatives income.

Summary for Korea:

Financial derivatives require prior approval from the central bank.

Commodity derivatives require prior reporting to the central bank.

Electronic Transactions Basic Law and Standardized Contract Regulation Law 
may require amendments to ETA. Await advice on specific amendments.

Await specific advice on metals physical and derivatives trading.


Regards
Matt






Justin Boyd
09/25/2000 07:36 PM
To: Robert Quick/LON/ECT@ECT, Matthias Lee/SIN/ECT@ECT, 
jonathan.marsh@linklaters.com
cc:  

Subject: Foreign Counsel Update - EnronOnline

I attach the latest summary.  Please would you make all updates (where it 
applies to you) by close thisThursday - this is when we need to send it over 
to Houston.  If you can, could you try as get as recent an update as possible 
from counsel.

Thanks.
Justin