(1) "Listed company prescribed by Presidential Decree" in Article 542-11(1) of the Act means a listed company with total assets valued at two trillion won or more as at the end of the latest business year; provided, any of the following categories of listed companies shall be excluded herefrom:
1. A listed company which is a real estate investment company as defined in the Real Estate Investment Company Act;
2. A listed company governed by the Act on the Management of Public Institutions or the Act on the Improvement of Managerial Structure and Privatization of Public Enterprises;
3. A listed company for which rehabilitation proceedings have commenced under the Debtor Rehabilitation and Bankruptcy Act;
4. A listed company that has newly listed its stocks on the securities market or the KOSDAQ market (applicable only until the day preceding the date of the first general meeting of shareholders held since listing); provided, this shall not apply where a company that has listed its stocks on the securities market and is required to establish the audit committee corresponds to a company that has listed its stocks on the KOSDAQ market or where a company that has listed its stocks on the KOSDAQ market and is required to establish the audit committee corresponds to a company that has listed its stocks on the securities market.
(2) "Accounting or financing expert as prescribed by Presidential Decree" in Article 542-11(2)1 of the Act means any of the following persons: <Amended on Feb. 29, 2012; Apr. 14, 2020; Aug. 9, 2022>
1. A certified public accountant engaged in the relevant business for at least five years;
2. A person who holds at least a master's degree in accounting or finance and who has worked for a research institute or university at least as a researcher or an assistant professor in accounting or finance for an aggregate of at least five years (including the working experience before acquiring a bachelor‘s degree);
3. A person who has worked for a listed company as an executive officer in charge of accounting or finance for an aggregate of at least 5 years or who has worked for a listed company as an executive officer or employee in accounting or finance for an aggregate of at least 10 years;
4. A person who has worked for an institution listed in Article 16(1)4 or 5 of the Enforcement Decree of the Act on Corporate Governance of Financial Companies or the Bank of Korea under the Bank of Korea Act in charge of accounting or finance or in charge of supervision over accounting or finance for an aggregate of at least five years;
5. A qualified person specified and publicly notified by the Financial Services Commission under Article 16(1)6 of the Enforcement Decree of the Act on Corporate Governance of Financial Companies.