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Laws › Commercial Act › SECTION 4 Withdrawal of Members

Commercial Act — Article 220 (Adjudication on Expulsion)

상법 제220조

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 any of the following reasons exists in respect of a member, the company may, by a resolution adopted by a majority of all the other members, seek an adjudication from the court for expulsion of such member:

1. Where such member failed to perform a duty to contribute;

2. Where such member acted in violation of Article 198 (1);

3. Where such member did an inappropriate act with respect to the management of the affairs or the representation of the company, or where such member managed the affairs of the company or represented the company without authority;

4. Where there is any other important reason.

(2) The provisions of Articles 205 (2) and 206 shall apply mutatis mutandis in cases falling under the preceding paragraph.

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