Regulations Governing Futures Exchanges Article 28

No person who falls within the categories specified in Paragraph 1 of Article 28 of the Act shall serve as a managerial officer of a futures exchange. In addition, to serve as a managerial officer of a futures exchange, one shall satisfy one of the following qualifications:1. has at least two years of experience in futures institutions and worked as the manager or higher position of a futures institution or in other equivalent positions;2. has in aggregate at least three years of experience in futures, securities, or financial institution, and worked as a manager or a higher position or equivalent positions in futures, securities, or financial institutions;3. has in aggregate at least five years of experience in futures, securities, or financial institutions, and worked as a vice manager or a higher position or equivalent positions of futures, securities, or financial institutions;4. has in aggregate at least five years of experience in administrative agencies regulating futures, securities, or financial industries and held a job position at the rank of intermediate civil servant (grade 6 to 9) or higher or an equivalent position;5. graduated from a domestic or foreign junior college or with equivalent degree and has fact evidencing his professional knowledge of the futures business and is capable of performing such position.The president and senior vice president shall not perform their duty unless reported to and approved by the FSC.