Regulations Governing The Recognition Of An Impartial Third Party And Its Public Auction Procedure Article 7

A Board member and supervisor of an impartial third party should not have any one of the following matters: 1.Any one of the matters as specified in Article 30 of the Company Act; 2.Having been a Board member, supervisor, manager, or the equivalent of a legal entity when it pronounced bankruptcy, the termination of bankruptcy has not reached three years or any compromise reached has not been carried out; 3.A record of having written false or bad checks within the last 3 years (resulting in a bad credit report); 4.Having violated the provisions in the Securities Transaction Act, Company Act, Banking Act, Insurance Act, Credit Cooperative Act, Farmers' Association Act, Fishermen's Association Act, or Foreign Exchange Management Act, and having been convicted by the court of a punishment more serious than a fine, whose execution has completed, a deferment has expired, or five years have not passed after being pardoned; 5.Having committed such a crime as internal rebellion or external interference of the state after the termination of Mobilization and Rebellion Suppression Period and having been convicted by the court as such; 6.Having been convicted of a compulsory work under security preservation punishments or a hoodlum reformatory punishment, whose execution has not been made or has not completed or five years have not passed after the completion of execution; or having been convicted of other security preservation punishments whose execution has not been made or has not completed; 7.Having committed the crime of corruption under the Criminal Code or its special Acts or any crimes under the Organized Crime Prevention Act; 8.Having committed such crimes as vote buying, accepting bribery, affecting voting or campaign, manipulating elections through bribery under the Criminal Code or its special acts, or having committed the crime of embezzlement, fraud, dishonesty, or forging documents by using opportunities or means in the positions occupied, and having been convicted by the court of a fixed-term imprisonment or above; however, those cases where a deferment has been pronounced or the imprisonment has been converted to a fine and the execution has completed are excluded. 9.Having committed crimes other than those indicated in the five Subparagraphs mentioned above, and having been convicted by the court of a fixed-term imprisonment or above and whose execution has not been done or has not yet completed; however, those cases where a deferment has been pronounced or the imprisonment is below six months and can be converted to a fine are excluded; 10.Having had facts which suggested that the person has engaged in or has been connected with other dishonest or improper activities, and these facts are sufficient enough to demonstrate that he (or she) would not be suitable to handle those businesses to be conducted by an impartial third party. Should a Board member or supervisor be a legal entity, the above requirements are applicable to the representative of the legal entity or a person designated to perform the relevant functions.