Korean Law in English
Laws › Commercial Act › SECTION 4 Withdrawal of Members

Commercial Act — Article 217 (Members' Right to Withdraw from Company)

상법 제217조

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) Where the articles of incorporation of a company do not specify the time period for the existence of the company or provide that the company shall continue to exist during the life of a particular member, any member may withdraw at the end of any business year: Provided, That he/she shall give a notice six months prior to the withdrawal.

(2) Where inevitable reasons exist, a member may withdraw at any time.

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