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Laws › Commercial Act › SECTION 4 Admission and Withdrawal of Members

Commercial Act — Article 287-28 (Return of Equity Interest of Withdrawn Members)

상법 제287조의28

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(1) A withdrawn member may receive a refund of his/her equity interest in money.

(2) The amount of a refund to a withdrawn member shall be determined according to the current status of assets of the limited liability company at the time of withdrawal.

(3) With respect to a refund of equity interest of a withdrawn member, the articles of incorporation may determine otherwise.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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