Korean Law in English
Laws › Commercial Act › CHAPTER XII FINANCIAL LEASE BUSINESS

Commercial Act — Article 168-3 (Duties of Financial Lease Business Entities and Financial Lessees)

상법 제168조의3

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) A financial lease business entity shall ensure that a financial lessee can receive an article under financial lease appropriate for a financial lease agreement at the time specified in the financial lease agreement.

(2) A financial lessee shall pay a financial lease fee as soon as he/she receives an article under financial lease pursuant to paragraph (1).

(3) When the receipt of an article under financial lease has been issued, it shall be assumed that an appropriate article under financial lease has been received between the parties of the financial lease agreement under paragraph (1).

(4) Once a financial lessee has received an article under financial lease, he/she shall maintain and manage the article under financial lease with the due care of a good manager.[This Article Newly Inserted by Act No. 10281, May 14, 2010]

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