A member may enter into a transaction with the company on his/her own account or on the account of a third party only if a resolution approving such has been adopted by affirmative votes of a majority of other members of the company. In such cases, Article 124 of the Civil Act shall not apply.
Laws › Commercial Act › SECTION 2 Internal Relationship of Company
Commercial Act — Article 199 (Self-Transactions of Members)
상법 제199조
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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