(i) it is not established in the territory of the Portuguese Republic under the EU Treaties or does

not have a valid operating license from a European Union Member State in accordance

with the law of the European Union; or

(ii) effective regulatory control of the airline is not exercised or not maintained by the European

Union Member State responsible for issuing its AOC, or the relevant aeronautical authority

is not clearly identified in the designation; or

(iii) the airline is not owned, directly or through majority ownership, or is not effectively

controlled by Member States of the European Union and/or of the European Free Trade

Association and/or by nationals of such States; or

(iv) the airline does not have its principal place of business in the territory of the European

Union Member State from which it has received its valid operating license; or

(v) the airline is already authorized to operate under a bilateral agreement between the

Republic of Korea and another European Union Member State, and the Republic of Korea

can demonstrate that, by exercising traffic rights under this Agreement on a route that

includes a point in that other European Union Member State, it would be circumventing

restrictions on traffic rights imposed by that other agreement; or

(vi) the airline holds an AOC issued by a European Union Member State and there is no

bilateral air services agreement between the Republic of Korea and that European Union

Member State, and that Member State has denied traffic rights to the airline(s) designated

by the Republic of Korea;

(b) in the case of an airline designated by the Republic of Korea:

(i) it is not established in the territory of the Republic of Korea or is not licensed in accordance

with the law of the Republic of Korea; or

(ii) the Republic of Korea is not maintaining effective regulatory control of the airline; or

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