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Commercial Act — Article 296 (Appointment of Executive Officers in Incorporation by Incorporators)

상법 제296조

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) When the payment of a subscription price and the investment in kind are completed in accordance with the preceding Article, incorporators shall without delay appoint directors and auditors by a majority vote.

(2) Incorporators shall have one vote for each share to which they have subscribed.

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