and Exchange Commission No. Kor Jor. 4/2560 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor ___________________________ By

securities dealing under foreign law; (5) “ retail client ” means a client who is not an institutional investor or a high net worth investor; (6) “ institutional investor ” means an institutional investor as

concerning the Determination regarding Definition of Institutional Investor, Ultra High Net Worth, and High Net Worth Investor ; “ client ” means user of an intermediary ’s services; “ Stock Exchange ” means

worth investor ,” and “ high net worth investor ” shall have the same meanings as the definitions of such terms specified in the Notification of the Securities and Exchange Commission concerning the

High Net Worth Investor and High Net Worth Investor . Clause 3 A securities business license applicant and licensee shall have paid-up registered capital of no less than the following amounts: (1) one

Net Worth Investor and High Net Worth Investor . “ultra-high net worth investor” 6 means an ultra-high net worth investor under the Notification of the Securities and Exchange Commission Re

to undertake securities business in the category of securities dealing; “counter trader” means a person who trade securities with securities company; “client” means a counter trader which is not a

institutional investor under the Notification of Securities and Exchange Commission concerning the Determination regarding Definition of Institutional Investor and High Net Worth Investor . “ high net worth

concerning the Determination regarding Definition of Institutional Investor and High Net Worth Investor . “ client ” means user of an intermediary ’s services. “ Stock Exchange ” means the Stock Exchange of

concerning Determination regarding Definition of Institutional Investor and High Net Worth Investor Who Do Not Request to Take a Suitability Test; (2) high net worth investors as prescribed in the Notification