Samsung Asset Management Company, Ltd..

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
COMPANY CO. LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY : FINANCIAL SUPERVISORY SERVICE
2.
Principal Sanction:
Other
Other Sanctions: 
WARNING
3.
Date Initiated (MM/DD/YYYY): 
02/04/2022
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 

7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SUPERVISORY SERVICE ALLEGED THAT SAMSUNG LIFE INSURANCE (1) FAILED ON OBLIGATION TO COMPLY WITH BASIC DOCUMENT (2)
FAILED ON OBLIGATION OF PROTECTING POLICYHOLDER BY DELAYED COMPENSATION PAYMENT (3) FAILED TO KEEP CREDIT INFORMATION ACCURATE
AND UP-TO-DATE(4) FAILED OBLIGATION TO ENSURE SAFENESS OF ELECTRONIC FINANCIAL TRANSACTION.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision
11. Resolution Date (MM/DD/YYYY):
02/04/2022
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 317,257.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
FINANCIAL SUPERVISORY SERVICE ALLEGED THAT SAMSUNG LIFE INSURANCE (1) FAILED ON OBLIGATION TO COMPLY WITH BASIC DOCUMENT
(2) FAILED ON OBLIGATION OF PROTECTING POLICYHOLDER BY DELAYED COMPENSATION PAYMENT (3) FAILED TO KEEP CREDIT INFORMATION
ACCURATE AND UP-TO-DATE(4) FAILED OBLIGATION TO ENSURE SAFENESS OF ELECTRONIC FINANCIAL TRANSACTION.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON FEB 4, 2022, FINANCIAL SUPERVISORY SERVICE ISSUED A NOTICE OF ITS DECISION, FINDING SAMSUNG LIFE INSURANCE CO., LTD. LIABLE FOR
THE ALLEGATIONS LISTED IN OUR ANSWER TO QUESTION 7. AS A RESULT, FINANCIAL SUPERVISORY SERVICEIMPOSED A FINE OF KRW 377,000,000
ON AND ISSUED A WARNING LETTER AGAINST SAMSUNG LIFE INSURANCE CO., LTD..

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

(
y
)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG SECURITIES CO.,
LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION).
2.
Principal Sanction:
Other
Other Sanctions: 
MONEY PENALTY
3.
Date Initiated (MM/DD/YYYY): 
10/04/2022
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 10/04/2022.
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
SAMSUNG SECURITIES CO., LTD.
6.
Principal Product Type:
Other
Other Product Types: 
SECURITIES
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SERVICES COMMISSION ALLEGED THAT SAMSUNG SECURITIES CO., LTD. FAILED TO COMPLY WITH (1) THE RESTRICTION ON PROVIDING
LOANS TO THE OFFICERS OR EMPLOYEES OF ITS AFFILIATES, (2) THE OBLIGATION TO SUBMIT ITS BUSINESS REPORT IN ACCORDANCE WITH THE
LAWS, (3) THE RESTRICTION ON UNSOUND ACTIVITIES IN CONNECTION WITH UNDERWRITING OF SECURITIES, (4) THE PROCEDURES IN RELATION TO
INVESTMENT ADVERTISEMENTS, (5) THE LIMITATION ON THE AMOUNT OF DISCRETIONARY INVESTMENT ON THE SECURITIES ISSUED BY ITS AFFILIATES

8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision
11. Resolution Date (MM/DD/YYYY):
10/04/2022
 Exact
 Explanation
If not exact, provide explanation:
JUDGEMENT RENDERED
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 3,534,818.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
FINANCIAL SERVICES COMMISSION ALLEGED THAT SAMSUNG SECURITIES CO., LTD. FAILED TO COMPLY WITH (1) THE RESTRICTION ON
PROVIDING LOANS TO THE OFFICERS OR EMPLOYEES OF ITS AFFILIATES, (2) THE OBLIGATION TO SUBMIT ITS BUSINESS REPORT IN
ACCORDANCE WITH THE LAWS, (3) THE RESTRICTION ON UNSOUND ACTIVITIES IN CONNECTION WITH UNDERWRITING OF SECURITIES, (4) THE
PROCEDURES IN RELATION TO INVESTMENT ADVERTISEMENTS, (5) THE LIMITATION ON THE AMOUNT OF DISCRETIONARY INVESTMENT ON THE
SECURITIES ISSUED BY ITS AFFILIATES, (6) THE RESTRICTION ON TRADING OF FINANCIAL INVESTMENT INSTRUMENTS BY ITS OFFICERS AND
EMPLOYEES.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON OCTOBER 4, 2022, FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION, FINDING SAMSUNG SECURITIES CO., LTD. IS LIABLE
FOR THE ALLEGATIONS LISTED IN OUR ANSWER TO QUESTION 7. AS A RESULT, A FINE OF KRW 4,507,600,000 HAS BEEN IMPOSED ON SAMSUNG
SECURITIES CO., LTD.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG FIRE & MARINE
INSURANCE CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
"PENALTY SUBCHARGE : KRW 685MIL / USD 531,832 (EXCHANGE RATE 1,288) FINE : KRW 280MIL / USD 217,391 (EXCHANGE RATE 1,288) VOLUNTARY
CORRECTIVE MEASURES"
3.
Date Initiated (MM/DD/YYYY): 
07/02/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
"FINANCIAL SERVICES COMMISSION ALLEGED THAT SAMSUNG FIRE AND MARINE CO., LTD. HAS VIOLATED: - PROHIBITED CONDUCTS CONCERNING
CONCLUSION OR SOLICITATION OF INSURANCE CONTRACTS - DUTY TO EXPLAIN IMPORTANT MATTERS IN INSURANCE CONTRACTS - OBLIGATIONS TO
COMPLY WITH TERMS OF THE BASIC DOCUMENTS OF THE INSURANCE - PRINCIPLES FOR CALCULATING PREMIUM RATES AND OBLIGATION OF
MANAGEMENT STANDARDS OF BASIC DOCUMENTS OF THE INSURANCE - DUTY TO ACCUMULATE INSURANCE RESERVE "
8.
Current Status?      
 Pending
 On Appeal
 Final

9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Other
11. Resolution Date (MM/DD/YYYY):
07/02/2023
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION AND ORDER
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 749,223.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
"PENALTY SUBCHAGE : KRW 685MIL / USD 531,832 (EXCHANGE RATE OF 1288.00) ADMINISTRATIVE FINES : KRW 280MIL / USD 217,391
(EXCHANGE RATE OF 1288.00) VOLUNTARY CORRECTIVE MEASURES"
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
ON FEBRUARY 07, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG FIRE &
MARINE INSURANCE CO. LTD. IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF
KRW 965MIL IN AGGREGATE, ISSUED A WARNING LETTER TO SAMSUNG FIRE & MARINE INSURANCE CO. LTD., AND ORDERED TO TAKE VOLUNTARY
CORRECTIVE MEASURES.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON FEBRUARY 07, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG FIRE & MARINE
INSURANCE CO. LTD. IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 965MIL
IN AGGREGATE, ISSUED A WARNING LETTER TO SAMSUNG FIRE & MARINE INSURANCE CO. LTD., AND ORDERED TO TAKE VOLUNTARY CORRECTIVE
MEASURES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates

If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other Sanctions: 
VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE
3.
Date Initiated (MM/DD/YYYY): 
08/30/2023
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 08/30/2023.
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Unit Investment Trust(s)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SERVICES COMMISSION ALLEGED THAT SAMSUNG ASSET MANAGEMENT CO., LTD. FAILED TO IDENTIFY AND ASSESS THE LIKELIHOOD OF
CONFLICTS OF INTEREST, AND CONTROL SUCH CONFLICTS PROPERLY BETWEEN THE INVESTORS OF THE ETF MANAGED BY IT AND THE INVESTMENT
BROKER, WHICH IS THE BORROWER OF THE SECURITIES OF THE ETF, BY SETTING A FIXED LOAN RATE WITHOUT CONSIDERING MARKET DEMAND AND
CIRCUMSTANCES.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Other
11. Resolution Date (MM/DD/YYYY):

08/03/2023
 Exact
 Explanation
If not exact, provide explanation:
DECISION & ORDER
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
ON AUGUST 30, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG ASSET
MANAGEMENT CO., LTD. IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC ORDERED TO TAKE
VOLUNTARY CORRECTIVE MEASURES ON ONE EMPLOYEE OF SAMSUNG ASSET MANAGEMENT COMPANY, LTD.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON AUGUST 30, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG ASSET
MANAGEMENT CO., LTD. IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC ORDERED TO TAKE VOLUNTARY
CORRECTIVE MEASURES ON ONE EMPLOYEE OF SAMSUNG ASSET MANAGEMENT COMPANY, LTD.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)

This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
VOLUNTARY CORRECTIVE MEASURES, FINE KRW 37.8MIL / USD 29,348 (EXCHANGE RATE 1,288)
3.
Date Initiated (MM/DD/YYYY): 
05/26/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Other
Other Product Types: 
RETIREMENT PENSION.
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SERVICES COMMISSION ALLEGED THAT SAMSUNG LIFE INSURANCE CO., LTD. FAILED TO NOTIFY THE EMPLOYERS OR ITS REPRESENTATIVE
OF THE RESULT OF RESERVE CALCULATION AS PRESCRIBED BY THE ACT ON THE GUARANTEE OF EMPLOYEES' RETIREMENT BENEFITS IN KOREA.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Other
11. Resolution Date (MM/DD/YYYY):
05/26/2023
 Exact
 Explanation
If not exact, provide explanation:
DECISION & ORDER
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?

 Monetary/Fine Amount: $ 29,348.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
"FINE KRW 37.8MIL / USD 29,348 (EXCHANGE RATE OF 1288.00) WARNING TO ITS EMPLOYEE AND VOLUNTARY CORRECTIVE MEASURE"
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
ON MAY 26, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG SECURITIES CO.,
LTD. IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 37.8MIL, ISSUED A
WARNING TO ITS EMPLOYEE, AND ORDERED TO TAKE VOLUNTARY CORRECTIVE MEASURES.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON MAY 26, 2023, THE FINANCIAL SERVICES COMMISSION (FSC) ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG SECURITIES CO., LTD.
IS LIABLE FOR THE ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 37.8MIL, ISSUED A WARNING
TO ITS EMPLOYEE, AND ORDERED TO TAKE VOLUNTARY CORRECTIVE MEASURES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any

event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
"- WARNING - DISCIPLINARY ACTIONS AGAINST EMPLOYEES, INCLUDING A THREE-MONTH PAY REDUCTION, WARNING, AND ETC. - VOLUNTARY
CORRECTIVE MEASURES ON ITS EMPLOYEE"
3.
Date Initiated (MM/DD/YYYY): 
11/27/2024
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
"FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG LIFE INSURANCE CO. LTD. HAS VIOLATED: - DUTY OF CARE BY
MISREPRESENTATION AND OMISSION OF MATERIAL FACTS IN THE SALE OF FINANCIAL INVESTMENT PRODUCTS. - ITS OBLIGATION TO COMPLY WITH
THE PRINCIPLE OF SUITABILITY."
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
11/27/2024
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
"- WARNING - DISCIPLINARY ACTIONS AGAINST EMPLOYEES, INCLUDING A THREE-MONTH PAY REDUCTION, WARNINGS, ETC. - VOLUNTARY
CORRECTIVE MEASURES ON ITS EMPLOYEE"

Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
SEE DETAILS BELOW
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON NOVEMBER 27, 2024, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG LIFE INSURANCE CO., LTD. WAS LIABLE FOR THE
ALLEGATIONS LISTED IN OUR RESPONSE TO QUESTION 7. AS A RESULT, FSC ISSUED A WARNING AND ORDERED DISCIPLINARY ACTIONS AGAINST
EMPLOYEES, INCLUDING A THREE-MONTH PAY REDUCTION, WARNINGS, ETC. ADDITIONALLY, THE FSC ORDERED VOLUNTARY CORRECTIVE MEASURES
FOR ITS EMPLOYEES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.

 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
"FINE : KRW 370 MIL / USD 251,273 (EXCHANGE RATE 1472.5) VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE"
3.
Date Initiated (MM/DD/YYYY): 
05/08/2024
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 05/08/2024
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
"FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG LIFE INSURANCE CO. LTD. VIOLATED: - RECORDING OBLIGATIONS WHEN
ENTERING INTO A TRUST AGREEMENT WITH AN UNSUITABLE INVESTOR OR AN INVESTOR OVER THE AGE OF 70. - INVESTMENT ADVERTISING RULES FOR
INVESTMENT TRUSTS. - THE PROHIBITION OF PROMOTING A SPECIFIC MONEY TRUST TO AN UNSPECIFIED NUMBER OF INVESTORS."
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
05/08/2024
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 251,273.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
SEE BELOW FOR DETAILS
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).

ON MAY 8, 2024, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG LIFE INSURANCE CO., LTD. WAS LIABLE FOR THE ALLEGATIONS
LISTED IN OUR RESPONSE TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 370 MILLION IN AGGREGATE AND ORDERED VOLUNTARY
CORRECTIVE MEASURES FOR ITS EMPLOYEES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)

2.
Principal Sanction:
Other
Other Sanctions: 
"- PENALTY SUB-CHARGE: KRW 2,021 MIL / USD 1,372,496 (EXCHANGE RATE 1472.5) - VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE"
3.
Date Initiated (MM/DD/YYYY): 
11/25/2024
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 11/25/2024
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
"FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG LIFE INSURANCE CO. LTD. HAS VIOLATED: - PROHIBITED CONDUCTS CONCERNING
THE CONCLUSION OR SOLICITATION OF INSURANCE CONTRACTS "
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
11/25/2024
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 1,372,496.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
SEE BELOW FOR DETAIL
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON NOVEMBER 25, 2024, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG LIFE INSURANCE CO., LTD. WAS LIABLE FOR THE
ALLEGATIONS LISTED IN OUR RESPONSE TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 2.021 BILLION IN AGGREGATE AND ORDERED
VOLUNTARY CORRECTIVE MEASURES FOR ITS EMPLOYEES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action

g
y
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
"FINE : KRW 80 MIL / USD 54,329 (EXCHANGE RATE 1472.5) WARNING, VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE"
3.
Date Initiated (MM/DD/YYYY): 
01/05/2024
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 01/05/2024

4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Insurance
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
"FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG LIFE INSURANCE CO. LTD. VIOLATED: - ITS OBLIGATION TO COMPLY WITH THE
PRINCIPLES OF CALCULATING INSURANCE RATES AND THE STANDARDS FOR MANAGING UNDERLYING DOCUMENTATION. - THE SENIOR ACTUARY'S
OBLIGATION TO VALIDATE RATES."
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
01/05/2024
 Exact
 Explanation
If not exact, provide explanation:
FINANCIAL SERVICES COMMISSION ISSUED A NOTICE OF ITS DECISION ON 01/05/2024
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 54,329.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
WARNING TO ITS EMPLOYEE AND VOLUNTARY CORRECTIVE MEASURE
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON JANUARY 5, 2024, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG LIFE INSURANCE CO. LTD WAS LIABLE FOR THE
ALLEGATIONS LISTED IN OUR ANSWERS TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 80 MIL IN AGGREGATE, ISSUED A WARNING TO
ITS EMPLOYEE, AND ORDERED VOLUNTARY CORRECTIVE MEASURES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File

with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG SECURITIES CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
WARNING - DISCIPLINARY ACTIONS AGAINST CERTAIN EMPLOYEES, INCLUDING A THREE-MONTH SUSPENSION, A THREE-MONTH SALARY REDUCTION,
WARNING, AND ETC. - VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE
3.
Date Initiated (MM/DD/YYYY): 
05/15/2025
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Unit Investment Trust(s)
Other Product Types: 

7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG SECURITIES CO. LTD HAS VIOLATED: - ITS OBLIGATION TO COMPLY WITH THE
PRINCIPLE OF SUITABILITY. - DUTY OF CARE BY MISREPRESENTATION AND OMISSION OF MATERIAL FACTS IN THE SALE OF FINANCIAL INVESTMENT
PRODUCTS.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
05/15/2025
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
WARNING
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
"- WARNING - DISCIPLINARY ACTIONS AGAINST CERTAIN EMPLOYEES, INCLUDING A THREE-MONTH SUSPENSION, A THREE-MONTH SALARY
REDUCTION, WARNING, AND ETC. - VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE"
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON MAY 15, 2025, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG SECURITIES CO. LTD. WAS LIABLE FOR THE ALLEGATIONS
LISTED IN OUR RESPONSE TO QUESTION 7. AS A RESULT, FSC ISSUED A WARNING AND ORDERED DISCIPLINARY ACTIONS AGAINST EMPLOYEES,
INCLUDING A THREE-MONTH SUSPENSION, A THREE-MONTH PAY REDUCTION, WARNINGS, ETC. ADDITIONALLY, THE FSC ORDERED VOLUNTARY
CORRECTIVE MEASURES FOR ITS EMPLOYEES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG LIFE INSURANCE
CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FOREIGN FINANCIAL REGULATORY AUTHORITY (FINANCIAL SERVICES COMMISSION)
2.
Principal Sanction:
Other
Other Sanctions: 
VOLUNTARY CORRECTIVE MEASURES ON EMPLOYEES.
3.
Date Initiated (MM/DD/YYYY): 
08/01/2025
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Unit Investment Trust(s)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
FINANCIAL SERVICES COMMISSION (FSC) ALLEGED THAT SAMSUNG LIFE INSURANCE CO. LTD. HAS VIOLATED: - APPLICABLE REGULATIONS
CONCERNING THE PROCESSING OF AGGREGATED ORDERS BY FAILING TO PRE-ESTABLISH ASSET ALLOCATION STANDARDS FOR EACH TRUST; AND -
ALLOCATING TRANSACTION RESULTS BASED ON AVERAGED EXECUTION PRICES RATHER THAN PRE-DETERMINED ALLOCATION CRITERIA.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision & Order of Offer of Settlement
11. Resolution Date (MM/DD/YYYY):
08/01/2025
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 6,254.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
MONETARY / FINE AMOUNT : KRW 90 MIL / USD 6,254 (EXCHANGE RATE 1439)
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
- VOLUNTARY CORRECTIVE MEASURES ON ITS EMPLOYEE
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON AUGUST 1, 2025, THE FSC ISSUED A NOTICE OF ITS DECISION, FINDING THAT SAMSUNG LIFE INSURANCE CO., LTD. WAS LIABLE FOR THE
ALLEGATIONS LISTED IN OUR RESPONSE TO QUESTION 7. AS A RESULT, FSC IMPOSED A FINE OF KRW 90 MIL IN AGGREGATE AND ORDERED
VOLUNTARY CORRECTIVE MEASURES FOR ITS EMPLOYEES.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE

CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG HEDGE ASSET
MANAGEMENT CO., LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
PRIVATE PLAINTIFF
2.
Principal Relief Sought:
Money Damages (Private/Civil Complaint)
Other Relief Sought: 
3.
Filing Date of Court Action (MM/DD/YYYY):
10/31/2022
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Other
Other Product Types: 
PRIVATE UNIT TRUST INVESTING IN OFFSHORE PRIVATE FUNDS)
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
SEOUL CENTRAL DISTRICT COURT, SEOUL, SOUTH KOREA, CASE NUMBER: 2022GAHAP557513
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
THE PLAINTIFF WHO IS A SUB-DISTRIBUTOR OF SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT
TRUST NO. 1 FILED A SUIT FOR REQUEST FOR REDEMPTION AND DAMAGES.
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
APPEAL DATE : 2025-05-29 COURT : SEOUL HIGH COURT, SEOUL, SOUTH KOREA CASE NUMBER : 2025NA207669
10. If pending, date notice/process was served (MM/DD/YYYY):
11/22/2022
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.
11. How was matter resolved:

Other
12. Resolution Date (MM/DD/YYYY): 
05/29/2025
 Exact
 Explanation
If not exact, provide explanation:
THIS CASE IS ON APPEAL
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?
Monetary/Fine Amount: $
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
SEE BELOW
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
SEE BELOW
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
THE PLAINTIFF IS A SUB-DISTRIBUTOR OF SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT TRUST
NO. 1 (THE "FUND") INVESTING IN TOTAL RETURN SWAP OF WHICH UNDERLYING ASSET IS KS KOREA CREDIT FUND -1IC MANAGED BY GEN2 PARTNERS
ASSET MANAGEMENT LIMITED ("GEN2 FUND"). THE PLAINTIFF AS THE SUB-DISTRIBUTOR HAS PAID REDEMPTION PROCEEDS TO THE INVESTORS OF THE
FUND AND ALL OF THE INVESTORS RIGHTS IN THE FUND HAVE BEEN ASSIGNED TO THE PLAINTIFF. DUE TO THE REASON THAT THE REDEMPTIONS OF
THE SHARES IN GEN2 FUN HAVE BEEN SUSPENDED, THE REDEMPTIONS OF THE BENEFICIAL INTERESTS IN THE FUND HAVE BEEN SUSPENDED AS WELL.
THE PLAINTIFF FILED A SUIT FOR THE PAYMENT OF REDEMPTION PROCEEDS IN ITS CAPACITY OF THE INVESTOR OF THE FUND AND DAMAGES FOR
BREACH OF RELEVANT LAWS AND CONTRACT IN ITS CAPACITY OF THE SUB-DISTRIBUTOR OF THE FUND. THE SEOUL CENTRAL DISTRICT COURT
ENTERED JUDGMENT IN FAVOR OF ALL DEFENDANTS. THE PLAINTIFF SUBSEQUENTLY FILED AN APPEAL, AND THE MATTER IS CURRENTLY PENDING
BEFORE THE SEOUL HIGH COURT. ALTHOUGH THE PLAINTIFF WITHDREW ITS CLAIMS AGAINST SAMSUNG ASSET MANAGEMENT CO., LTD., THE CLAIMS
AGAINST SAMSUNG HEDGE ASSET MANAGEMENT CO., LTD. REMAIN PENDING AND ARE CURRENTLY UNDER APPELLATE REVIEW BEFORE THE SEOUL HIGH
COURT.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.

ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG HEDGE ASSET
MANAGEMENT CO., LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
PRIVATE PLAINTIFF
2.
Principal Relief Sought:
Money Damages (Private/Civil Complaint)
Other Relief Sought: 
3.
Filing Date of Court Action (MM/DD/YYYY):
04/29/2021
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Other
Other Product Types: 
PRIVATE UNIT INVESTMENT TRUST IN OFFSHORE PRIVATE FUNDS
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
SEOUL CENTRAL DISTRICT COURT, SEOUL, SOUTH KOREA, CASE NUMBER : 2021GAHAP530382
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
THE PRIVATE INVESTOR OF A SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.3 ALLEDGED
THAT THE FIRM HAS VIOLATED THE FIDUCIARY DUTY BY NEGLECTED TO INFORM THE INVESTMENT RISK.
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
APPEAL DATE: 2023-11-29, COURT: SEOUL HIGH COURT, SEOUL, SOUTH KOREA CASE NUMBER: 2023NA2055314 APPEAL DATE: 2024-09-06, COURT:
SUPREME COURT, SEOUL, SOUTH KOREA CASE NUMBER: 2024DA281044
10. If pending, date notice/process was served (MM/DD/YYYY):
05/17/2021
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.

11. How was matter resolved:
Other
12. Resolution Date (MM/DD/YYYY): 
09/06/2024
 Exact
 Explanation
If not exact, provide explanation:
THIS CASE IS ON APPEAL
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?
Monetary/Fine Amount: $
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
SEE BELOW
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
SEE BELOW
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.3 INVESTS IN OFFSHORE FUND;KS KOREA
CREDIT FUND -1 IC CLASS H(KRW). THE KS KOREA CREDIT FUND -1 IC CLASS H(KRW) IS MANAGED BY GEN2 PARTNERS ASSET MANAGEMENT
LIMITED(GEN2 PARTNERS AM) AND INVESTS IN OFFSHORE CREDIT BOND. ON 3 JULY 2020, THE GEN2 PARTNERS AM ANNOUNCED THE REDEMPTION
SUSPENSION DUE TO THE COVID-19 OUTBREAK WHICH CAUSED SIGNIFICANT TURMOIL IN THE GLOBAL FINANCIAL MARKET, ALTHOUGH THE GEN2
PARTNERS AM HAS NO JUSTIFIABLE GROUND TO SUSPEND REDEMPTION OF THE SHARES. AS A RESULT, THE FIRM ALSO HAD TO BE SUSPENDED
REDEMPTION OF THE SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.3. THE CASE IS FILED
ON 17 MAY 2021 AND THE FIRM IS CURRENTLY PREPARING THE CASE. THE FIRM PREVAILED IN BOTH THE FIRST INSTANCE AND THE APPLLATE COURT,
AND THE CASE IS CURRETLY PENDING BEFORE SUPREME COURT.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE

CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG HEDGE ASSET
MANAGEMENT CO., LTD.
(For individuals, Last, First,
Middle)
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG SECURITIES CO. LTD
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
PRIVATE PLAINTIFF
2.
Principal Relief Sought:
Money Damages (Private/Civil Complaint)
Other Relief Sought: 
3.
Filing Date of Court Action (MM/DD/YYYY):
12/12/2024
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Other
Other Product Types: 
PRIVATE UNIT TRUST INVESTING IN OFFSHORE PRIVATE FUNDS
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
SEOUL CENTRAL DISTRICT COURT, SEOUL, SOUTH KOREA, CASE NUMBER : 2024GAHAP115586
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
THE PRIVATE INVESTOR OF SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.2 ALLEGED THAT
THE FIRM VIOLATED ITS FIDUCIARY DUTY BY NEGLECTING TO INFORM THE INVESTOR OF THE ASSOCIATED RISKS.
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
10. If pending, date notice/process was served (MM/DD/YYYY):

01/10/2025
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.
11. How was matter resolved:
12. Resolution Date (MM/DD/YYYY): 
 Exact
 Explanation
If not exact, provide explanation:
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?
Monetary/Fine Amount: $
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.2 INVESTS IN OFFSHORE FUND;KS KOREA
CREDIT FUND -1 IC CLASS K(KRW). THE KS KOREA CREDIT FUND -1 IC CLASS K(KRW) IS MANAGED BY GEN2 PARTNERS ASSET MANAGEMENT
LIMITED(GEN2 PARTNERS AM) AND INVESTS IN OFFSHORE CREDIT BONDS. ON 3 JULY 2020, GEN2 PARTNERS AM ANNOUNCED THE SUSPENSION OF
REDEMPTION DUE TO THE GLOBAL FINANCIAL TURMOIL CAUSED BY THE COVID-19 OUTBREAK DESPITE HAVING NO JUSTIFIABLE GROUNDS TO SUSPEND
REDEMPTION OF THE SHARES. AS A RESULT, THE FIRM WAS ALSO FORCED TO SUSPEND THE REDEMPTIONS FOR SAMSUNG A CLUB YIELD PLUS GEN2
QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.2. THE CASE WAS FILED IN COURT ON 12 DECEMBER, 2024, AND THE FIRM WAS
SERVED WITH THE COMPLAINT ON 10 JANUARY, 2025. THE CASE IS CURRENTLY PENDING BEFORE THE COURT OF FIRST INSTANCE.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE

CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG SECURITIES CO. LTD
(For individuals, Last, First,
Middle)
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
SAMSUNG HEDGE ASSET
MANAGEMENT CO., LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
PRIVATE PLAINTIFF
2.
Principal Relief Sought:
Money Damages (Private/Civil Complaint)
Other Relief Sought: 
3.
Filing Date of Court Action (MM/DD/YYYY):
12/27/2024
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Other
Other Product Types: 
PRIVATE UNIT TRUST INVESTING IN OFFSHORE PRIVATE FUND
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
SEOUL CENTRAL DISTRICT COURT, SEOUL, SOUTH KOREA, CASE NUMBER: 2024GAHAP118813
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
THE PRIVATE INVESTORS OF SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.1
ALLEDGEDALLEGED THAT THE FIRM VIOLATED ITS FIDUCIARY DUTY BY NEGLECTING TO INFORM THE INVESTOR OF THE ASSOCIATED RISKS.
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
10. If pending, date notice/process was served (MM/DD/YYYY):

01/13/2025
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.
11. How was matter resolved:
12. Resolution Date (MM/DD/YYYY): 
 Exact
 Explanation
If not exact, provide explanation:
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?
Monetary/Fine Amount: $
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
SAMSUNG A CLUB YIELD PLUS GEN2 QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.1 INVESTS IN OFFSHORE FUND;KS KOREA
CREDIT FUND -1 IC CLASS V(USD). THE KS KOREA CREDIT FUND -1 IC CLASS V(USD) IS MANAGED BY GEN2 PARTNERS ASSET MANAGEMENT
LIMITED(GEN2 PARTNERS AM) AND INVESTS IN OFFSHORE CREDIT BONDS. ON 3 JULY 2020, GEN2 PARTNERS AM ANNOUNCED THE SUSPENSION OF
REDEMPTION DUE TO THE GLOBAL FINANCIAL TURMOIL CAUSED BY THE COVID-19 OUTBREAK DESPITE HAVING NO JUSTIFIABLE GROUNDS TO SUSPEND
REDEMPTION OF THE SHARES. AS A RESULT, THE FIRM WAS ALSO FORCED TO SUSPEND REDEMPTIONS FOR THE SAMSUNG A CLUB YIELD PLUS GEN2
QUALIFIED INVESTMENT-TYPE PRIVATE PLACEMENT INVESTMENT NO.1. THE CASE WAS FILED IN COURT ON 27 DECEMBER 2024 AND THE FIRM IS
SERVED WITH THE COMPLAINT ON 13 JANUARY 2025. THE CASE IS CURRENTLY PENDING BEFORE THE COURT OF FIRST INSTANCE.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Item 11.H. of Part
1A or Item 2.F. of Part 1B of Form ADV.
Civil Judicial
Check Part 1A item(s) being responded to:
11.H(1)(a)
11.H(1)(b)
11.H(1)(c)
11.H(2)
Check Part 1B item(s) being responded to:
2.F(1)
2.F(2)
2.F(3)
2.F(4)
2.F(5)
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page.
One event may result in more than one affirmative answer to Item 11.H. of Part 1A or Item 2.F. of Part 1B. Use only one DRP to report details related to the
same event. Unrelated civil judicial actions must be reported on separate DRPs.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE

No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.H.
(1)(a), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Court Action initiated by: (Name of regulator, foreign financial regulatory authority, SRO, commodities exchange, agency, firm, private plaintiff, etc.) 
PRIVATE PLAINTIFF
2.
Principal Relief Sought:
Money Damages (Private/Civil Complaint)
Other Relief Sought: 
3.
Filing Date of Court Action (MM/DD/YYYY):
12/13/2025
 Exact
 Explanation
If not exact, provide explanation:
4.
Principal Product Type:
Unit Investment Trust(s)
Other Product Types: 
5.
Formal Action was brought in (include name of Federal, State or Foreign Court, Location of Court - City or County and State or Country, Docket/Case
Number): 
SEOUL SOUTHERN DISTRICT COURT, SEOUL, SOUTH KOREA, CASE NUMBER: 2025GASO292060
6.
Advisory Affiliate Employing Firm when activity occurred which led to the civil judicial action (if applicable): 
7.
Describe the allegations related to this civil action (your response must fit within the space provided): 
ON DECEMBER 13, 2025, AN INDIVIDUAL INVESTOR IN TWO EXCHANGE-TRADED FUNDS MANAGED BY SAMSUNG ASSET MANAGEMENT COMPANY, LTD.
FILED A CIVIL LAWSUIT SEEKING DAMAGES, ALLEGING THAT LOSSES WERE INCURRED DURING THE OPERATION OF THE ETFS.
8.
Current Status? 
 Pending
 On Appeal
 Final
9.
If on appeal, action appealed to (provide name of court) and Date Appeal Filed (MM/DD/YYYY): 
10. If pending, date notice/process was served (MM/DD/YYYY):
01/07/2026
 Exact
 Explanation
If not exact, provide explanation:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 14 only.
11. How was matter resolved:
12. Resolution Date (MM/DD/YYYY): 
 Exact
 Explanation
If not exact, provide explanation:
13. Resolution Detail:
A.  Were any of the following Sanctions Ordered or Relief Granted(check appropriate items)?

Monetary/Fine Amount: $
Revocation/Expulsion/Denial
Disgorgement/Restitution
Censure
Cease and Desist/Injunction
Bar
Suspension
B.
Other Sanctions:
C.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement, or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived:
14. Provide a brief summary of circumstances related to the action(s), allegation(s), disposition(s) and/or finding(s) disclosed above (your response must
fit within the space provided). 
ON DECEMBER 13, 2025, AN INDIVIDUAL INVESTOR IN TWO EXCHANGE-TRADED FUNDS (THE "ETFS") MANAGED BY SAMSUNG ASSET MANAGEMENT
COMPANY, LTD. (THE "FIRM") FILED A CIVIL LAWSUIT SEEKING DAMAGES. THE COMPLAINT ALLEGES THAT LOSSES WERE INCURRED DURING THE
OPERATION OF THE ETFS. THE FIRM WAS FORMALLY SERVED ON JANUARY 7, 2026. THE MATTER IS CURRENTLY PENDING BEFORE THE SOUTHERN
DISTRICT COURT OF THE REPUBLIC OF KOREA. THE FIRM HAS RETAINED OUTSIDE COUNSEL AND INTENDS TO DEFEND THE MATTER.