which clearly states that it shall hold the assets in which it has invested until its maturity or throughout each investment period or the term of private fund management contract; (b) a specified

retirement mutual fund and long-term equity fund that urge investors to make the investment in time for acquiring tax benefits in such tax year. Clause 5. In case of advertisement of guaranteed fund or private

company to such persons without any delay. Clause 12. In the case where private fund management company invest to obtain the assets for its own account. The company shall provide term in private fund

supervision of securities business in the category of management of other persons’ funds, whether it be the mutual fund or private fund management, has the common objective to protect and maintain the best

granted for a limited term and renewal of such approval shall be considered by the SEC Office on the basis of investor contacts’ professional skills and knowledge, the SEC Office has issued guidelines for

Clause 10 In engaging in proprietary trading, a securities intermediary in the category of mutual fund management or private fund management shall supervise that short-term investment shall not be made

such service provider operates business, the intermediary may use the assessment results of the supervisory standards on hedge funds (Principle 28) instead. For the purpose of this Clause: The term

to the expiration of the approval term. Hours of participation will be accumulated as follows: Training or Seminar Lecturer Full-time Lecturer or Guest Lecturer Minimum hours of participation in the

is not an institutional investor , private equity , venture capital and investor having a specific characteristic. “ institutional investor ” means an institutional investor in accordance with the

objective in undertaking fund management business for short and long term. Objective should be set for the short-term plan and criteria/factor for evaluation of the accomplishment of the plan should be