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This report is intended to inform the upcoming meetings of the OECD Investment Committee in Paris, France in 2009. It documents substantive errors in the Korean NCP’s interpretations of the OECD Guidelines, and its failure to achieve functional equivalence with other NCPs. EarthRights International (ERI) and the Shwe Gas Movement (SGM) request the Investment Committee to address the governance gap within the OECD Guidelines system of implementation by acknowledging the Korean NCP’s errors in interpretation, and by clarifying certain aspects of Guidelines with respect to the Korean NCP’s decision in the Shwe case.