company is allowed to advertise, except for the advertising made pursuant to Chapter 2 which must be approved by the Office prior to distribution. (UNOFFICIAL TRANSLATION) 3 Clause 5. To advertise, in any

of the Securities and Exchange Commission. Chapter 1 General Rules ------------------ Clause 4. The securities company is allowed to advertise, except for the advertising made pursuant to Chapter 2

other than a license under regulatory sandbox and is allowed to provide services as a securities trading center in accordance with the license for establishing a securities trading center in such other

individual, and shall be allowed to undertake a derivatives business only after a license from the SEC has been obtained. Any derivatives business operator which is a legal entity under Section 17 and engages

Securities and Exchange Commission No. KorRor. 4/2558 Re: Determination regarding Types of Transactions in Capital Market Allowed to Use Form of Trust (No. 3) _____________________________ By virtue of Section

valuation of overseas investment. The SEC therefore allowed VTE to submit the audited/reviewed financial statements within October 28, 2014. # # # # # #

complied with requirements in this Notification. Clause 4. Securities company shall not be allowed to provide trading service for units of foreign collective investment scheme except where the following

is due to the fact that at present securities companies are allowed to make offshore investment which contains higher risks than domestic investment in such areas as foreign exchange rate risk

rationale for issuing this notification is due to the fact that at present securities companies are allowed to make offshore investment which contains higher risks than domestic investment in such areas as

leading financial institution which can rapidly and efficiently cope with potential economic volatility. All of these efforts allowed KBank and K Companies to meet business targets while we also gained wide