Laws › Commercial Act › SECTION 4 Withdrawal of Members

Commercial Act — Article 218 (Reasons for Withdrawal of Members)

상법 제218조

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.

In addition to the cases falling under the preceding Article, a member shall withdraw from the company for any of the following reasons:

1. Occurrence of any event specified in the articles of incorporation;

2. Consent of all members;

3. Death;

4. Commencement of adult guardianship;

5. Bankruptcy;

6. Expulsion.[This Article Wholly Amended by Act No. 15755, Sep. 18, 2018]

Korean original (law.go.kr) · Get articles as JSON via API

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