Statutes of the Republic of Korea

No. 32892
Promulgation Date 2022-08-30
Financial Services Commission

ALL

PART I GENERAL PROVISIONS

Article 1 (Purpose)

Article 2 (Definitions)

Article 3 (Scope of Financial Investment Instruments)

Article 3-2 (Securities Only Subject to Regulation of Submission of Registration Statements)

Article 4 (Requirements for Corporate Commercial Paper)

Article 4-2 (Financial Investment Instruments Excluded from Derivatives-Combined Securities)

Article 4-3 (Financial Investment Instruments Excluded from Derivatives)

Article 5 (Trading of Foreign Derivatives)

Article 6 (Exclusion of Collective Investments from Application)

Article 6-2 (Investable Assets of Investment Advisory Business)

Article 6-3 (Scope of Prime Brokerage Business)

Article 7 (Exemption of Financial Investment Business from Application)

Article 7-2 (Scope of Application)

Article 7-3 (Financial Investment Instruments Market, etc.)

Article 8 Deleted.

Article 9 Deleted.

Article 10 (Scope, etc. of Professional Investors)

Article 11 (Public Offering and Public Sale of Securities)

Article 12 Deleted.

Article 13 (Scope of Foreign Corporations)

Article 14 (Criteria for Private Equity Funds)

Article 14-2 (Business Entities subject to Clearing and Trades subject to Clearing)

Article 14-3 (Objects of Credit Rating)

Article 14-4 (Methods, etc. of Issuing Securities through Crowdfunding Brokerage)

Article 14-5 (Scope of Issuers of Online Small-Value Securities)

PART II FINANCIAL INVESTMENT BUSINESSES

CHAPTER I AUTHORIZATION AND REGISTRATION OF FINANCIAL INVESTMENT BUSINESSES

Section 1 Requirements and Procedures for Authorization

Article 15 (Authorized Business Units, etc.)

Article 16 (Requirements for Authorization, etc.)

Article 17 (Method, Procedures, etc. for Authorization)

Article 18 (Preliminary Authorization)

Article 19 (Relaxed Requirements for Maintenance of Authorization)

Article 19-2 (Mitigation of Requirements for Revision to Authorization)

Article 19-3 (Additional Registration of Business Unit of Investment Trading Business)

Article 19-4 (Special Cases concerning Authorization following Change in Organizational Form of Foreign Financial Investment Business Entity)

Section 2 Requirements and Procedure for Registration

Article 20 (Registered Business Units)

Article 21 (Requirements, etc. for Registration)

Article 22 (Method, Procedures, etc. for Registration)

Article 23 (Relaxed Requirements for Maintenance of Registration)

Article 23-2 (Mitigation of Requirements for Revision to Registration)

CHAPTER II GOVERNANCE OF FINANCIAL INVESTMENT BUSINESS ENTITY

article Contents

Article 25 Deleted.

Article 26 Deleted.

Article 26-2 Deleted.

Article 27 Deleted.

Article 28 Deleted.

Article 29 Deleted.

Article 30 Deleted.

Article 31 Deleted.

Article 32 Deleted.

Article 32-2 (Person in Charge of Derivatives Business)

Article 33 Deleted.

CHAPTER III MAINTENANCE OF SOUND BUSINESS MANAGEMENT

Section 1 Supervision over Soundness in Business Management

Section 1 Supervision over Soundness in Business Management

Article 34 (Maintenance, etc. of Financial Soundness)

Article 35 (Guidelines for Management Soundness)

Article 36 (Deadline, etc. for Submission of Business Reports)

Section 2 Restrictions, etc. on Trading with Major Shareholders

Article 37 (Restrictions, etc. on Trading, etc. with Major Shareholders)

Article 38 (Limits on Credit Granting)

Article 39 (Transactions, etc. Requiring No Resolution by Board of Directors)

Article 40 (Grounds for Restriction on Transactions with Major Shareholders)

Article 41 (Scope of Exercise of Undue Influence)

CHAPTER IV BUSINESS CONDUCT RULES

Section 1 Common Rules of Business Conduct

Subsection 1 Duty of Good Faith

Article 42 (Restrictions on Trade Name)

Article 43 (Business Scope of Financial Investment Business Entities)

Article 44 (Public Notice of Incidental Business)

Article 45 (Scope of Affairs Prohibited to be Entrusted)

Article 46 (Reporting, etc. on Entrusted Affairs)

Article 47 (Scope of Essential Affairs)

Article 48 Deleted.

Article 49 (Guidelines for Providing Information on Entrusted Affairs)

Article 50 (Suspending Exchange of Information among Financial Investment Business Entities)

Article 51 Deleted.

Subsection 2 Investment Recommendations

Article 52 Deleted.

Article 52-2 Deleted.

Article 53 Deleted.

Article 54 Deleted.

Article 55 Deleted.

Article 56 (Qualifications for Investment Solicitors)

Article 57 (Entrustment of Affairs of Registration)

Article 58 (Method, Procedures, etc. for Registration)

Article 59 Deleted.

Subsection 3 Prohibition of Use of Job-Related Information

Article 59-2 (Terms and Conditions)

Article 60 Deleted.

Article 61 Deleted.

Article 62 (Keeping and Maintaining Records)

Article 63 (Depositing of Acquired Securities)

Article 64 (Trading of Financial Investment Instruments by Executive Officers and/or Employees)

Article 64-2 (Measures to Protect Customer Service Personnel)

Article 65 (Operating Fund, etc. of Foreign Financial Investment Business Entity)

Section 2 Rules on Business Conduct by Financial Investment Business Entities

Subsection 1 Rules on Business Conduct by Investment Traders and Investment Brokers

Article 66 (Exception to Prohibition on Self-Contracting)

Article 66-2 (Duty of Best Execution)

Article 67 (Period for Disposition of One's Own Stocks)

Article 68 (Prohibition on Unsound Business Activities)

Article 69 (Credit Granting)

Article 70 (Method for Giving Notice of Details of Trading)

Article 71 (Exception to Deposits of Financial Securities Companies)

Article 72 (Exceptional Transfer, etc. of Investor's Deposit)

Article 73 (Methods and Procedures for Payment of Investor's Deposit)

Article 73-2 (Withholding of Payment of Investors' Deposits)

Article 74 (Management of Investor's Deposit)

Article 75 (Scope, etc. of Investor's Deposit)

Article 76 (Depositing of Securities Deposited by Investors)

Article 77 (Special Cases concerning Sale of Collective Investment Securities)

Article 77-2 (Contracts Corresponding to Contracts for Deposit with Investment Risks)

Article 77-3 (Designation, etc. of Comprehensive Financial Investment Business Entities)

Article 77-4 (Contracts, etc. for Prime Brokerage Services)

Article 77-5 (Scope of Credit Granting)

Article 77-6 (Services of Comprehensive Financial Investment Business Entities)

Article 78 (Guidelines, etc. for Services of Alternative Trading Systems)

Subsection 2 Rules on Business Conduct by Collective Investment Business Entities

Article 79 (Methods, etc. of Giving Instructions on Asset Management)

Article 80 (Exceptions to Restrictions on Limits of Asset Management)

Article 81 (Grounds, etc. for Exceeding Limits of Restrictions on Asset Management in Exceptional Circumstances)

Article 82 (Disposition of One's Own Collective Investment Securities)

Article 83 (Restrictions on Borrowing Money)

Article 84 (Scope of Interested Parties)

Article 85 (Exceptions to Restrictions on Trading with Interested Parties)

Article 86 (Restrictions, etc. on Acquisition of Securities of Affiliated Companies)

Article 87 (Prohibition on Unsound Business Conduct)

Article 88 (Restriction on Contingent Remuneration)

Article 89 (Restriction. on Exercise of Voting Rights)

Article 90 (Maintaining Records of Exercise of Voting Rights)

Article 91 (Public Disclosure, etc. of Exercise of Voting Rights)

Article 92 (Asset Management Reports)

Article 93 (Means, etc. of Ad Hoc Public Disclosure)

Article 94 (Reporting on, and Public Disclosure of, Collective Investment Property)

Article 95(Inspection, Public Disclosure, etc. of Account Books and Documents)

Article 96 (Special Cases concerning Management of Derivatives)

Article 97 (Special Cases concerning Management of Real Property)

Subsection 3 Rules on Business Conduct by Investment Advisory Business Entities and Discretionary Investment Business Entities

Article 98 (Execution of Contracts)

Article 99 (Prohibition of Unsound Business Conduct)

Article 99-2 (Restrictions etc. on Contingent Remuneration)

Article 100 (Delivery, etc. of Discretionary Investment Report)

Article 101 (Special Cases concerning Offshore Investment Advisory Business Entity)

Article 102 (Reporting on Quasi-Investment Advisory Businesses)

Subsection 4 Rules on Business Conduct by Trust Business Entities

Article 103 (Classification of Trusts)

Article 104 (Methods of Conducting Trust Business)

Article 105 (Acquisition of Trust Property with Proprietary Property)

Article 106 (Methods of Managing Trust Property)

Article 107 (Management of Surplus Funds)

Article 108 Deleted.

Article 109 (Prohibition on Unsound Business Activities)

Article 110 (Trust Contracts)

Article 111 (Reporting on Issuance of Beneficiary Certificates)

Article 112 (Purchase Beneficiary Certificates)

Article 113 (Restriction. on Exercise of Voting Rights)

Article 114 (Public Disclosure of Exercise of Voting Rights)

Article 115 (Inspection and Public Disclosure of Account Books and Documents)

Article 116 (Entrusted Establishment of Accounting Principles)

Article 117 (Exemption from Audit)

Article 118 (Appointment of Auditors)

Article 118-2 (Auditor's or Others' Liabilities for Damage)

Article 118-3 (Special Cases concerning Managerial Trusts)

CHAPTER V SPECIAL CASES CONCERNING CROWDFUNDING BROKERS, ETC.

Article 118-4 (Requirements for Registration)

Article 118-5 (Method, Procedures, etc. for Registration)

Article 118-6 (Relaxed Requirements for Maintenance of Registration)

Article 118-7 (Restriction on Names)

Article 118-8 (Internal Control Guidelines)

Article 118-9 (Subscription for Securities)

Article 118-10 (Other Matters concerning Regulation, etc. of Business Activities)

Article 118-11 (Managing Institutions, etc. of Subscription Deposits)

Article 118-12 (Grounds for Exceptional Transfer, etc. of Subscription Deposits)

Article 118-13 (Preferential Payment of Subscription Deposits)

Article 118-14 (Management, etc. of Subscription Deposits Placed in Deposit or Trust Account)

Article 118-15 (Limit on Securities Issued by Public Offering through Crowdfunding Brokerage)

Article 118-16 (Measures, etc. to be Taken by Issuers of Online Small-Value Securities)

Article 118-17 (Protection of investors, Restriction on their Activities, etc., Including Investment Limits)

Article 118-18 (Ascertaining Facts of Posted Matters)

Article 118-19 (Persons Liable for Damage)

Article 118-20 (Central Record Keeping Agency)

Article 118-21 (Central Recording Keeping Agency’s Affairs Managing Limit of Issuance, etc.)

Article 118-22 (Exception to Prohibition on Provision of Information)

Article 118-23 (Measures to be Taken by Providers of Electronic Message Board Services)

PART III ISSUANCE AND CIRCULATION OF SECURITIES

CHAPTER I REGISTRATION STATEMENT

Article 119 (Securities Exempt from Application of Chapter I of Part III of Act)

Article 120 (Cases subject to Reporting on Public Offering or Sale)

Article 121 (Universal Shelf Registration Statements)

Article 122 (Supplements to Universal Shelf Registration Statements, etc.)

Article 123 (Scope of Forward-Looking Statements)

Article 124 (Verification and Examination of Registration Statement by Representative Director)

Article 124-2 (Special Cases concerning Submission of Registration Statement of Sale)

Article 125 (Matters to Be Contained in Registration Statements and Accompanying Documents)

Article 126 (Matters to be Contained in Universal Shelf Registration Statement and Accompanying Documents)

Article 127 (Matters, etc. to be Contained in Registration Statements on Collective Investment Securities)

Article 128 (Matters to be Contained in Registration Statements on Asset-Backed Securities and Accompanying Documents)

Article 129 (Special Rules Applicable to Descriptions and Accompanying Documents of Registration Statement)

Article 129-2 (Standards for Recognition of Homogeneity of Issuance or Sale of Securities)

Article 130 (Corrections, etc. of Registration Statements)

Article 131 (Preparation and Public Disclosure of Investment Prospectus)

Article 132 (Persons Exempt from Issuing Investment Prospectus)

Article 133 (Methods of Preparing Preliminary Investment Prospectus)

Article 134 (Method of Preparing Short-Form Investment Prospectus)

Article 135 (Persons Liable for Losses Incurred due to False Statements, etc.)

Article 136 (Matters Excluded from Public Disclosure)

Article 137 (Public Offering or Sale without for Registration Statement)

Article 138 (Measures of Financial Services Commission)

CHAPTER II SYSTEMS RELATED TO CORPORATE ACQUISITION OR MERGER

Section 1 Public Tender Offer

Section 1 Public Tender Offer

Article 139 (Securities Eligible for Public Tender Offer)

Article 140 (Guidelines for Calculating Number of Opposite Parties to Public Tender Offer)

Article 141 (Scope of Specially Related Persons)

Article 142 (Possession Similar to Ownership)

Article 143 (Purchase, etc. for which No Public Tender Offer is Required)

Article 144 (Purchase not Deemed Purchase in Securities Market)

Article 145 (Public Notice, etc. of Tender Offer)

Article 146 (Tender Offer Statement, etc.)

Article 147 (Prohibition on Change of Terms and Conditions of Tender Offer)

Article 148 (Preparation, etc. of Prospectus for Tender Offer)

Article 149 (Expression of Opinions on Tender Offer)

Article 150 (Exceptional Revocation of Tender Offer)

Article 151 (Acquisition of Stocks in Any Manner other than Tender Offer)

Article 152 (Measures of Financial Services Commission)

Section 2 Reports on Stocks Held in Bulk

Article 153 (Reporting on Stocks, etc. Held in Bulk)

Article 154 (Special Cases concerning Reporting on Stocks Held in Bulk)

Article 155 (Reporting on Changes in Material Facts)

Article 156 (Dispatching Reports on Holding Stocks in Bulk to Issuer)

Article 157 (Scope of Material Facts)

Article 158 (Period for which Exercising Voting Rights is Restricted)

Article 159 (Measures of Financial Services Commission)

Section 3 Restriction on Solicitation to Exercise Voting Right by Proxy

Article 160 (Method of Delivering Proxy Forms)

Article 161 (Cases Not Deemed Solicitation to Exercise Voting Rights by Proxy)

Article 162 (Scope of Public-Purpose Corporation)

Article 163 (Matters to be Stated in Proxy Form and Reference Documents)

Article 163-2 (Calculation of Periods Related to Solicitation to Exercise Voting Rights by Proxy)

Article 164 (Submission Date of Proxy Form and Reference Documents)

Article 165 (Demand for Correction)

Article 166 (Measures of Financial Services Commission)

CHAPTER III LISTED CORPORATION'S BUSINESS REPORTS

Article 167 (Corporations, etc. Obligated to Submit Business Reports)

Article 168 (Matters to be Contained in Business Reports and Accompanying Documents)

Article 169 (Verification and Examination of Representative Director and Another Director on Business Report)

Article 170 (Descriptions and Accompanying Documents of Half-yearly and Quarterly Reports)

Article 171 (Grounds, etc. for Submission of Reports on Material Facts)

Article 172 (Institutions Requested to Furnish Information)

Article 173 (Scope of Securities Subject to Liability for Damage)

Article 174 (Matters Excluded from Public Disclosure of Business Reports)

Article 175 (Measures of Financial Services Commission)

Article 176 (Special Cases concerning Submission of Business Reports)

CHAPTER III-2 SPECIAL CASES CONCERNING STOCK-LISTED CORPORATIONS

Article 176-2 (Guidelines for Acquisition and Disposal of Treasury Stocks)

Article 176-3 Deleted.

Article 176-4 Deleted.

Article 176-5 (Requirements, Methods, etc. of Merger)

Article 176-6 (Requirements, Methods, etc. for Business Acquisition or Transfer, etc.)

Article 176-7 (Appraisal Rights of Shareholders)

Article 176-8 (Methods, etc. of Issuance and Allocation of Stocks)

Article 176-9 (Exceptions, etc. to Special Cases concerning Allocation of Stocks to Members of Employee Stock Ownership Association)

Article 176-10 (Minimum Issue Price of Stocks to be Issued Less Than Par Value)

Article 176-11 Deleted.

Article 176-12 (Issuance, etc. of Convertible Contingent Capital Securities)

Article 176-13 (Issuance, etc. of Bail-In Contingent Capital Securities)

Article 176-14 (Matters to be Reported at General Meeting of Shareholders concerning Dividends and Method of Calculating Market Price of Stocks Dividends)

Article 176-15 (Special Cases concerning Dividends of Public Purpose Corporations, etc.)

Article 176-16 (Corporations Issuing Non-Voting Stocks)

Article 176-17 (Standards, etc. for Financial Management of Stock-listed Corporations)

Article 176-18 (Reporting, etc. on Granting Stock Options)

Article 176-19 (Special Cases concerning Outside Directors and Standing Auditors)

CHAPTER IV OVER-THE-COUNTER TRADING

Article 177 (Method of Over-the-Counter Trading)

Article 177-2 (Exemption from Deliberation on Over-the-Counter Derivatives)

Article 178 (Over-the-Counter Trading through Association, etc.)

Article 179 (Over-the-Counter Trading through Inter-Dealer Brokers)

Article 180 (Over-the-Counter Trading through Specialized Bond Dealer)

Article 181 (Repurchase Agreements)

Article 182 (Transactions of Borrowing and Lending Securities)

Article 183 (Over-the-Counter Trading of Commercial Paper, etc.)

Article 184 (Transactions, etc. in Overseas Markets)

Article 185 (Other Over-the-Counter Trading of Securities)

Article 186-2 (Transactions for Risk Avoidance)

Article 186-3 (Duties to Clear Over-the-Counter Trading)

Article 187 (Limits on Acquisition, etc. of Securities or Exchange-Traded Derivatives by Foreigners)

Article 188 (Registration, etc. of Foreigner's Investment)

Article 189 (Auditor's Audit Certificate)

Article 190 (Special Cases concerning Audit of Foreign Corporations, etc.)

Article 191 (Scope of Securities Subject to Liability for Damage)

Article 192 (Alternative Payment for Security Deposit)

Article 193 Deleted.

PART IV REGULATION OF UNFAIR TRADING

Article 194 (Scope of Employees Obligated to Return Short-Swing Profit)

Article 195 (Methods, etc. of Calculation of Short-Swing Profit)

Article 196 (Securities Exempt from Return of Short-Swing Profit)

Article 197 (Public Disclosure of Short-Swing Profit)

Article 198 (Exceptions to Return of Short-Swing Profits)

Article 199 (Duration Applicable Mutatis Mutandis to Investment Traders)

Article 200 (Reporting on Status of Specific Securities Owned by Executive Officers)

Article 200-2 (Reporting on Exchange-Traded Derivatives Held in Bulk)

Article 201 (Disclosure, etc. of Information)

Article 202 (Market Price Subject to Market Price Manipulation)

Article 203 (Persons Authorized to Conduct Manipulation for Stabilization and Market Creation)

Article 204 (Methods of Manipulation for Stabilization, etc.)

Article 205 (Methods of Market Creation, etc.)

Article 206 (Persons Eligible for Entrustment of Manipulation for Stabilization)

Article 206-2 (Cases Eligible for Price Manipulation)

Article 207 (Scope of Linked Securities)

Article 207-2 (Exception to Prohibition on Market Disturbance)

Article 208 (Restrictions on Short Sales)

Article 208-2 (Reporting on Net Positions)

Article 208-3 (Public Disclosure of Net Positions)

Article 208-4 (Restrictions on Acquisition of Stocks by Public Offering or Sale by Short Sellers)

Article 208-5 (Information on Borrowing Transactions Related to Borrowing Public Sale)

PART V COLLECTIVE INVESTMENT SCHEME

CHAPTER I GENERAL PROVISIONS

Article 209 (Registration Requirements for Collective Investment Scheme)

Article 210 (Exemption from Revised Registration)

Article 211 (Methods, Procedures, etc. for Registration)

Article 211-2 (Cross-Selling Agreement)

Article 212 (Business Affairs of Fund Accounting and Administration Company)

Article 213 (Investment Company's Disposition of Its Own Collective Investment Securities)

Article 214 (Keeping and Maintaining Records of Data of Investment Company, etc.)

CHAPTER II ORGANIZATION OF COLLECTIVE INVESTMENT SCHEMES

Section 1 Investment Trust

Section 1 Investment Trust

Article 215 (Matters to be Stated in Trust Contract)

Article 216 (Reasons for being Excused from General Meeting of Beneficiaries)

Article 217 (Matters Subject to Resolution of General Meeting of Beneficiaries)

Article 218 (Methods of and Procedures for Verification of Details of Issuance of Beneficiary Certificates)

Article 219 (Special Cases concerning Prohibition on Furnishing Information)

Article 220 (Convening General Meetings of Beneficiaries)

Article 221 (Exercise of Voting Rights in Writing)

Article 222 (Buy-Out of Beneficiary Certificates from Dissenting Beneficiaries)

Article 223 (Grounds for Termination Allowed without Approval)

Article 224 (Method, Procedures, etc. for Approval of Termination)

Article 224-2 (Grounds for Exemption from Mandatory Termination)

Article 225 (Reasons for Partial Termination)

Article 225-2 (Special Cases concerning Mergers of Small-Scale Investment Trusts)

Article 226 (Merger of Investment Trusts)

Section 2 Collective Investment Scheme in Form of Company

Article 227 (Matters to be Stated in Articles of Incorporation)

Article 228 (Accompanying Documents for Registration of Incorporation)

Article 229 (Amendments to Articles of Incorporation)

Article 230 (Condition of Issuance of New Stocks)

Article 231 (Grounds for Disqualification as Supervisory Director)

Article 231-2 (Grounds for Exemption from Mandatory Dissolution)

Article 232 (Registration of Liquidator)

Article 233 (Omission of Procedure for Peremptory Notice to Creditors)

Article 233-2 (Special Cases concerning Mergers of Small-Scale Investment Companies)

Article 234 (Matters to be Stated in Articles of Incorporation)

Article 235 (Descriptions of Equity Securities)

Article 236 (Mandatory Provisions of Articles of Association)

Article 236-2 (Matters, etc. to be Stated in Articles of Incorporation)

Section 3 Collective Investment Scheme in Form of Association

Article 237 (Matters to be Stated in Partnership Agreements)

Article 238 (Reporting, etc. on Dissolution)

Article 239 (Matters to be Stated in Undisclosed Association Agreements)

CHAPTER III TYPES OF COLLECTIVE INVESTMENT SCHEMES

Section 1 Types of Collective Investment Schemes

Section 1 Types of Collective Investment Schemes

Article 240 (Minimum Investment Ratio, etc. by Type of Collective Investment Schemes)

Article 241 (Money Market Funds)

Section 2 Collective Investment Schemes in Extraordinary Form

Article 242 (Closed-End Fund)

Article 243 (Multiple-Class Funds)

Article 244 (Umbrella Funds)

Article 245 (Master-Feeder Funds)

Article 246 (Requirements for Exchange-Traded Funds)

Article 247 (Designated Participating Company)

Article 248 (Creation, Establishment, etc.)

Article 249 (Redemption of Collective Investment Securities of Exchange-Traded Fund)

Article 250 (Listing and Delisting of Exchange-Traded Funds)

Article 251 (Public Notice of Assets, etc. Owned)

Article 252 (Special Cases concerning Management)

Article 252-2 Deleted. "

CHAPTER IV REDEMPTION OF COLLECTIVE INVESTMENT SECURITIES

Article 253 (Events Excusing Performance in Response to Claims for Redemption)

Article 254 (Special Cases concerning Methods for Redemption)

Article 255 (Redemption Price and Fees)

Article 256 (Grounds for Postponement of Redemption)

Article 257 (Matters Subject to Resolution of General Meeting for Postponement of Redemption)

Article 258 (Redemption Methods When Redemption is Resumed)

Article 259 (Partial Redemption)

CHAPTER V ASSESSMENT AND ACCOUNTING

Article 260 (Methods for Assessment of Collective Investment Property)

Article 261 (Committee on Assessment of Collective Investment Property)

Article 262 (Calculation and Public Announcement of Base Prices)

Article 263 (Entrustment of Establishment of Accounting Principles)

Article 264 (Exemption from Accounting Audits)

Article 265 (Appointment of Auditor)

Article 265-2 (Auditors’ Liability for Damage, etc.)

Article 266 (Distribution of Profits)

Article 267 Deleted.

CHAPTER VI SAFEKEEPING AND MANAGEMENT OF COLLECTIVE INVESTMENT PROPERTY

Article 268 (Deposit, etc. of Securities)

Article 269 (Trust Business Entity's Duty to Monitor)

Article 270 (Reports on Safekeeping and Management of Assets)

CHAPTER VII SPECIAL CASES CONCERNING PRIVATE EQUITY FUNDS

Section 1 General Private Equity Funds

Article 271 (Investors in General Private Equity Funds)

Article 271-2 (Requirements for Registration)

Article 271-3 (Relaxation, etc. of Requirements for Maintenance of Registration)

Article 271-4 (Method, Procedures, etc. for Registration)

Article 271-5 (Recommendations of Investment in General Private Equity Funds)

Article 271-6 (Advertisements Soliciting Investment in General Private Equity Funds)

Article 271-7 (Requirements for Creation or Establishment of General Private Equity Funds)

Article 271-8 (Exemption from Reporting on Changes)

Article 271-9 (Methods, Procedures, etc. for Reporting)

Article 271-10 (Methods of Managing Collective Investment Property Held by General Private Equity Funds)

Article 271-11 (Special Cases concerning General Private Equity Funds)

Article 271-12 (Measures against General Private Equity Funds)

Section 2 Institutional Private Equity Funds

Article 271-13 (Reporting on Establishment of Institutional Private Equity Funds)

Article 271-14 (Partners and Contributions)

Article 271-15 Deleted.

Article 271-16 (Methods of Managing Collective Investment Property of Institutional Private Equity Fund)

Article 271-17 Deleted.

Article 271-18 Deleted.

Article 271-19 (Special-Purpose Companies)

Article 271-20 (Managing Members, etc.)

Article 271-21 (Requirements, etc. for Registration)

Article 271-22 (Restrictions on Transactions with Interested Parties, etc.)

Article 271-23 (Restrictions on Institutional Private Equity Funds Affiliated with Conglomerates Subject to Limitations on Cross-Holdings)

Article 271-24 (Special Cases concerning Regulation on Holding Companies)

Article 271-25 (Special Cases concerning Institutional Private Equity Funds)

Article 271-26 (Measures against Institutional Private Equity Funds)

Article 271-27 (Special Cases concerning Private Equity Funds for Corporate Financial Stability)

Article 271-28 (Special Cases concerning Private Equity Funds Specializing in Start-up or Venture Business)

Section 3 Special Provisions concerning Banks and Insurance Companies

Article 272 (Special Provisions concerning Banks)

Article 273 (Special Provisions concerning Insurance Companies)

CHAPTER VIII SUPERVISION AND INSPECTION

Article 274 (Supervision over Investment Companies, etc.)

Article 275 (Measures against Investment Companies, etc.)

Article 275-2 (Revocation of Registration of Passport Funds)

CHAPTER IX COMPANIES RELATED TO COLLECTIVE INVESTMENT SCHEMES

Article 276 (Requirements for Registration of Fund Accounting and Administration Company)

Article 277 (Method, Procedures, etc. for Registration)

Article 278 (Supervision over General Administration Companies)

Article 279 (Measures against General Administration Companies)

Article 280 (Requirements, etc. for Registration of Fund Rating Companies)

Article 281 (Method, Procedures, etc. for Registration)

Article 282 (Business Conduct Standards, etc.)

Article 283 (Supervision of Fund Rating Companies)

Article 284 (Measures against Fund Rating Companies)

Article 285 (Requirements for Registration of Bond Rating Companies)

Article 286 (Method, Procedures, etc. for Registration)

Article 287 (Working Rules, etc. on Business Conduct)

Article 288 (Supervision of Bond Rating Companies)

Article 289 (Measures against Bond Rating Companies)

CHAPTER X Deleted.

Article 290 Deleted.

Article 291 Deleted.

Article 292 Deleted.

Article 293 Deleted.

Article 294 Deleted.

Article 295 Deleted.

Article 296 Deleted.

Article 297 Deleted.

Article 297-2 Deleted.

Article 298 Deleted.

Article 299 Deleted.

Article 300 Deleted.

Article 300-2 Deleted.

CHAPTER XI SPECIAL CASES CONCERNING FOREIGN COLLECTIVE INVESTMENT SECURITIES

Article 301 (Qualification Requirements for Foreign Collective Investment Business Entities)

Article 302 (Inspection, etc. of Account Books and Documents)

Article 303 (Sales Methods, etc. of Foreign Collective Investment Securities)

Article 304 (Deregistration of Foreign Collective Investment Schemes)

PART VI INSTITUTIONS RELATED TO FINANCIAL INVESTMENT BUSINESS

CHAPTER I KOREA FINANCIAL INVESTMENT ASSOCIATION

Article 305 (Registration of Incorporation)

Article 306 (Members)

Article 307 (Business Affairs)

Article 308 (Organization and Articles of Incorporation)

Article 309 (Measures against Association)

CHAPTER II KOREA SECURITIES DEPOSITORY

Article 310 (Securities, etc. Subject to Deposit)

Article 311 (Registration of Incorporation)

Article 312 (Special Interests)

Article 313 (Measures against Securities Depository)

Article 314 (Restriction on Return of Securities Deposited by Investors)

Article 315 (Replenishment of Shortfall in Deposited Securities, etc.)

Article 316 (Matters Notified by Issuers)

Article 317 Deleted.

Article 317-2 (Management of Stock Certificates in Name of Securities Depository)

Article 318 Deleted.

CHAPTER II-2 CENTRAL COUNTERPARTY

Article 318-2 (Authorized Business Units for Clearing Business)

Article 318-3 (Requirements for Authorization for Central Counterparty Clearing Business)

Article 318-4 (Method, Procedures, etc. for Authorization for Central Counterparty)

Article 318-5 (Preliminary Authorization)

Article 318-6 (Special Interest)

Article 318-7 (Financial Investment Institutions)

Article 318-8 (Accumulation, Management, etc. of Joint Compensation Fund)

Article 318-9 (Transaction Information, etc. subject to Preservation and Management)

Article 318-10 (Restrictions on Stockholding)

Article 318-11 (Dispositions against Central Counterparty)

CHAPTER III SECURITIES FINANCE COMPANY

Article 318-12 (Special Cases concerning Prohibition against Unauthorized Securities Finance Business)

Article 319 (Authorization)

Article 320 (Business Affairs)

Article 321 (Special Interests)

Article 322 (Issuance of Bonds)

Article 323 (Approval on Discontinuance of Business)

Article 324 (Measures against Securities Finance Companies)

CHAPTER III-2 CREDIT RATING COMPANY

Article 324-2 (Exceptions to Prohibition on Credit Assessment without Authorization)

Article 324-3 (Requirements for Authorization, etc.)

Article 324-4 (Method, Procedures, etc. for Authorization of Credit Rating Company)

Article 324-5 (Preliminary Authorization)

Article 324-6 (Internal Control Guidelines for Credit Assessment, etc.)

Article 324-7 (Incidental Business)

Article 324-8 (Business Conduct Standards, etc. of Credit Rating Companies)

Article 324-9 (Submission, Public Notification, etc. of Credit Rating Statements)

Article 324-10 (Dispositions in Relation to Credit Rating Companies)

CHAPTER IV MERCHANT BANK

Article 325 (Business Affairs, etc. of Merchant Banks)

Article 326 (Issuance of Cover Bills)

Article 327 (Selection, etc. of Eligible Business Entities)

Article 328 (Dealing with Unsecured Bills, etc.)

Article 329 (Cash Management Account)

Article 330 (Working Rules on Business Conduct)

Article 331 (Authorization for Branches)

Article 332 (Issuance of Bonds)

Article 333 (Special Cases concerning Collective Investment Business)

Article 334 (Limits on Credit Granting to Same Borrower)

Article 335 (Scope of Equity Capital)

Article 336 (Scope of Credit Granting)

Article 337 (Scope of Same Borrower and Related Persons)

Article 338 (Restriction on Transactions with Major Shareholders)

Article 339 (Limits on Investment in Securities)

Article 340 (Prohibited Acts regarding Funding)

Article 341 (Holding Reserve Assets)

Article 342 (Restrictions, etc. on Acquisition of Real Estate)

Article 343 Deleted.

Article 344 (Measures against Merchant Banks)

CHAPTER V FUND BROKERAGE COMPANY

Article 345 (Authorization for Fund Brokerage Companies)

Article 346 (Restrictions on Activities of Fund Brokerage Companies)

Article 347 (Measures against Fund Brokerage Companies)

CHAPTER VI SHORT-TERM FINANCIAL COMPANY

Article 348 (Business Affairs, etc. of Short-Term Finance Companies)

Article 349 (Measures against Short-Term Finance Companies)

CHAPTER VII TRANSFER AGENCY COMPANY

Article 350 (Prerequisites for Registration)

Article 351 (Procedures for Registration, etc.)

Article 352 (Measures against Transfer Agents)

CHAPTER VIII ORGANIZATIONS RELATED TO FINANCIAL INVESTMENT

Article 353 (Establishment of Organizations Related to Financial Investment)

Article 354 (Measures against Organizations Related to Financial Investment)

PART VII EXCHANGES

Article 354-2 (Exception to Prohibition against Establishment of Markets without Permission)

Article 354-3 (Requirements, etc. for Permission for Exchange)

Article 354-4 (Method, Procedures, etc. for Permission for Exchange)

Article 354-5 (Preliminary Authorization)

Article 354-6 (Responsibilities of Exchange)

Article 355 (Abnormal Transactions)

Article 356 (Qualifications for Executive Officers)

Article 357 (Special Interests)

Article 357-2 (Audit Committee)

Article 358 (Members of Director Nomination Committee)

Article 359 (Categories of Members)

Article 360 (Securities Subject to Public Disclosure Regulations)

Article 361 (Requests for Information, etc.)

Article 362 (Accumulation, Management, etc. of Joint Compensation Fund)

Article 363 (Making Claims, etc. for Reimbursement)

Article 364 (Publication of Quotations)

Article 365 (Qualifications, etc. for Chairperson of Market Oversight Commission)

Article 366 (Restriction on Holding of Stocks)

Article 367 (Measures against Exchange)

Article 368 (Market Efficiency Promotion Committee)

PART VIII SUPERVISION AND DISPOSITIONS

CHAPTER I ORDERS, APPROVAL, ETC.

Article 369 (Orders to Financial Investment Business Entities to Take Measures)

Article 370 (Matters subject to Approval)

Article 371 (Matters, etc. subject to Reporting)

CHAPTER II INSPECTION AND MEASURES

Article 372 (Entrustment of Inspection)

Article 373 (Measures against Financial Investment Business Entities)

Article 374 (Measures against Executive Officers and/or Employees)

CHAPTER III INVESTIGATIONS

Article 375 (Demands to Financial Investment Business Entities to Submit Data)

Article 376 (Measures Following Results of Investigation)

Article 377 (Public Announcements of Findings from Investigations and Measures Taken)

Article 378 (Investigative Officers)

CHAPTER IV PENALTY SURCHARGES

Article 379 (Standards for Imposing Penalty Surcharges)

Article 380 (Procedure for Imposition of Penalty Surcharges)

Article 381 (Extension of Deadline for Payment and Payment in Installments)

Article 382 (Additional Charges)

Article 383 (Entrustment of Disposition against Default on Payment)

Article 383-2 (Interest Rates for Additional Payment on Refund)

Article 383-3 (Disposition on Deficits)

PART IX SUPPLEMENTARY PROVISONS

Article 384 (Reporting, etc. of Violations)

Article 385 (Reporting, etc. by Electronic Documents)

Article 386 (Exchange of Information for which Consultation not Required)

Article 387 (Delegation or Entrustment of Authority)

Article 387-2 (Processing of Sensitive Information and Personally Identifiable Information)

Article 388 (Apportionment Rate, Limit, etc. of Expenses)

Article 388-2 (Re-Examination of Regulations)

PART X PENALTY PROVISIONS

Article 389 (Material Facts)

Article 390 (Criteria for Imposing Administrative Fines)

Article 390 (Criteria for Imposing Administrative Fines)

ADDENDA <Presidential Decree No. 20947, Jul. 29, 2008>

ADDENDA <Presidential Decree No. 21291, Feb. 3, 2009>

ADDENDA <Presidential Decree No. 21480, May 6, 2009>

ADDENDA <Presidential Decree No. 21518, May 29, 2009>

ADDENDA <Presidential Decree No. 21565, Jun. 26, 2009>

ADDENDA <Presidential Decree No. 21611, Jul. 1, 2009>

ADDENDA <Presidential Decree No. 21744, Sep. 21, 2009>

ADDENDA <Presidential Decree No. 21765, Oct. 1, 2009>

ADDENDA <Presidential Decree No. 21835, Nov. 20, 2009>

ADDENDA <Presidential Decree No. 21898, Dec. 21, 2009>

ADDENDA <Presidential Decree No. 21904, Dec. 24, 2009>

ADDENDA <Presidential Decree No. 21978, Jan. 6, 2010>

ADDENDA <Presidential Decree No. 22003, Jan. 27, 2010>

ADDENDA <Presidential Decree No. 22151, May 4, 2010>

ADDENDA <Presidential Decree No. 22197, Jun. 11, 2010>

ADDENDUM <Presidential Decree No. 22467, Nov. 2, 2010>

ADDENDA <Presidential Decree No. 22493, Nov. 15, 2010>

ADDENDA <Presidential Decree No. 22516, Dec. 7, 2010>

ADDENDA <Presidential Decree No. 22637, Jan. 24, 2011>

ADDENDUM <Presidential Decree No. 22718, Mar. 22, 2011>

ADDENDA <Presidential Decree No. 23073, Aug. 11, 2011>

ADDENDUM <Presidential Decree No. 23197, Sep. 30, 2011>

ADDENDUM <Presidential Decree No. 23285, Nov. 4, 2011>

ADDENDA <Presidential Decree No. 23488, Jan. 6, 2012>

ADDENDA <Presidential Decree No. 23496, Jan. 6, 2012>

ADDENDA <Presidential Decree No. 23644, Feb. 29, 2012>

ADDENDA <Presidential Decree No.23924, Jun. 29, 2012>

ADDENDUM <Presidential Decree No. 24317, Jan. 16, 2013>

ADDENDA <Presidential Decree No. 24435, Mar. 23, 2013>

ADDENDA <Presidential Decree No. 24497, Apr. 5, 2013>

ADDENDA <Presidential Decree No. 24636, Jun. 21, 2013>

ADDENDA <Presidential Decree No. 24655, Jul. 5, 2013>

ADDENDA <Presidential Decree No. 24697, Aug. 27, 2013>

ADDENDUM <Presidential Decree No. 24841, Nov. 13, 2013>

ADDENDUM <Presidential Decree No. 25050, Dec. 30, 2013>

ADDENDA <Presidential Decree No. 25279, Mar. 24, 2014>

ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>

ADDENDA <Presidential Decree No. 25553, Aug. 12, 2014>

ADDENDA <Presidential Decree No. 25843, Dec. 9, 2014>

ADDENDA <Presidential Decree No. 25945, Dec. 30, 2014>

ADDENDA <Presidential Decree No. 26135, Mar. 3, 2015>

ADDENDUM <Presidential Decree No. 26190, Apr. 7, 2015>

ADDENDA <Presidential Decree No. 26205, Apr. 20, 2015>

ADDENDA <Presidential Decree No. 26374, Jun. 30, 2015>

ADDENDA <Presidential Decree No. 26600, Oct. 23, 2015>

ADDENDUM <Presidential Decree No. 26817, Dec. 30, 2015>

ADDENDUM <Presidential Decree No. 26898, Jan. 12, 2016>

ADDENDUM <Presidential Decree No. 26961, Feb. 5, 2016>

ADDENDA <Presidential Decree No. 27037, Mar. 11, 2016>

ADDENDA <Presidential Decree No. 27115, Apr. 29, 2016>

ADDENDA <Presidential Decree No. 27205, May 31, 2016>

ADDENDA <Presidential Decree No. 27290, Jun. 28, 2016>

ADDENDA <Presidential Decree No. 27291, Jun. 28, 2016>

ADDENDA <Presidential Decree No. 27322, Jul. 6, 2016>

ADDENDA <Presidential Decree No. 27414, Jul. 28, 2016>

ADDENDA <Presidential Decree No. 27444, Aug. 11, 2016>

ADDENDA <Presidential Decree No. 27472, Aug. 31, 2016>

ADDENDA <Presidential Decree No. 27556, Oct. 25, 2016>

ADDENDA <Presidential Decree No. 27751, Dec. 30, 2016>

ADDENDUM <Presidential Decree No. 27861, Feb. 13, 2017>

ADDENDA <Presidential Decree No. 28040, May 8, 2017>

ADDENDA <Presidential Decree No. 28384, Oct. 17, 2017>

ADDENDA <Presidential Decree No. 28564, Dec. 29, 2017>

ADDENDUM <Presidential Decree No. 28796, Apr. 10, 2018>

ADDENDUM <Presidential Decree No. 29201, Sep. 28, 2018>

ADDENDA <Presidential Decree No. 29269, Oct. 30, 2018>

ADDENDA <Presidential Decree No. 29495, Jan. 15, 2019>

ADDENDUM <Presidential Decree No. 29619, Mar. 12, 2019>

ADDENDUM <Presidential Decree No. 29711, Apr. 23, 2019>

ADDENDA <Presidential Decree No. 29892, Jun. 25, 2019>

ADDENDA <Presidential Decree No. 30049, Aug. 20, 2019>

ADDENDUM <Presidential Decree No. 30118, Oct. 8, 2019>

ADDENDUM <Presidential Decree No. 30306, Dec. 31, 2019>

ADDENDA <Presidential Decree No. 30381, Jan. 29, 2020>

ADDENDUM <Presidential Decree No. 30509, Mar. 3, 2020>

ADDENDA <Presidential Decree No. 30525, Mar. 10, 2020>

ADDENDA <Presidential Decree No. 30586, Mar. 31, 2020>

ADDENDUM <Presidential Decree No. 30719, May 26, 2020>

ADDENDA <Presidential Decree No. 30893, Aug. 4, 2020>

ADDENDA <Presidential Decree No. 30934, Aug. 11, 2020>

ADDENDA <Presidential Decree No. 31012, Sep. 10, 2020>

ADDENDUM <Presidential Decree No. 31380, Jan. 5, 2021>

ADDENDA <Presidential Decree No. 31441, Feb. 9, 2021>

ADDENDA <Presidential Decree No. 31444, Feb. 17, 2021>

ADDENDUM <Presidential Decree No. 31516, Mar. 2, 2021>

ADDENDA <Presidential Decree No. 31536, Mar. 16, 2021>

ADDENDA <Presidential Decree No. 31553, Mar. 23, 2021>

ADDENDUM <Presidential Decree No. 31612, Apr. 6, 2021>

ADDENDA <Presidential Decree No. 31696, May 18, 2021>

ADDENDA <Presidential Decree No. 31784, Jun. 18, 2021>

ADDENDA <Presidential Decree No. 31961, Aug. 31, 2021>

ADDENDA <Presidential Decree No. 32091, Oct. 21, 2021>

ADDENDA <Presidential Decree No. 32201, Dec. 9, 2021>

ADDENDA <Presidential Decree No. 32274, Dec. 28, 2021>

ADDENDA <Presidential Decree No. 32449, Feb. 17, 2022>

ADDENDA <Presidential Decree No. 32545, Mar. 22, 2022>

ADDENDA <Presidential Decree No. 32733, Jun. 28, 2022>

ADDENDA <Presidential Decree No. 32892, Aug. 30, 2022>