. ------------------------------- Notification of the Securities and Exchange Commission No. KorThor. 42/2543 Re: Rules, Conditions and Procedures for Securities Brokerage and Securities Dealing which are not Debt Instruments By virtue of

an intermediary under receivership by court order for the benefit of managing the clearing and settlement of derivatives or securities of clients , and for the management of clients’ assets having no

. Clause 3 . The management company managing any mutual fund may be the liquidator of such mutual fund or may appoint other person as prescribed by the Office as the mutual fund’s liquidator only when it has

authorized by the board of directors of the company to take the highest responsibility in managing the company, regardless of the title; (3) “institutional investor” means institutional investor under Section

3; (3) preventing and managing conflicts of interest, as specified in details in Chapter 4; (4) communicating with a client and providing services to the client , as specified in details in Chapter 5

offering1. In this regard, the Company shall disclose the following information: (1) Spending of the money obtained from each offering of equity or debt securities2. Spending Objectives Amount of Spent Money

; (2) “ derivatives business license type Sor-2 ” means a license to undertake derivatives business in various categories consisting of derivatives brokerage and derivatives dealing limited to debt

(e); (2) bonds having high-risk or complex characteristics including: (a) hybrid securities with debt repayment period longer than 270 days as from the date on which hybrid securities have been issued

and operating systems, as specified in details in Chapter 3; (3) preventing and managing conflicts of interest, as specified in details in Chapter 4; (4) communicating with a client and providing

entrusted to sell or redeem investment units, as the case may be, of mutual fund; “Staff” means any staff and employee of the management company and shall include managing director or equivalent which is