On November 9, 2016, the President announced the newly amended Articles 146-5 and 168 of the Insurance Act, providing that an insurance enterprise investing in non-publicly traded public utilities may serve as a director or supervisor of the invested company.  However, the number of directors or supervisors of the invested company consisting of or being appointed by such insurance enterprise or its representive cannot exceed one third of the total number of directors or supervisors, nor may such insurance enterprise appoint the general manager of the invested company.