If plaintiffs in a lawsuit for nullification or revocation of the incorporation of a company have lost in such lawsuit and it is found that they, in bad faith or by gross negligence, filed such lawsuit, they shall be jointly and severally liable for damage against the company.
Laws › Commercial Act › SECTION 1 Incorporation
Commercial Act — Article 191 (Liability for Losing Plaintiffs)
상법 제191조
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.
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