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Commercial Act — Article 300 (Disposition of Alteration by Court)

상법 제300조

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) If a court finds any of the matters listed in Article 290 to be unreasonable after examining reports on investigation by an inspector or notary public or the outcomes of appraisal by an appraiser and an explanatory note of the incorporators, it may alter them and notify it to each incorporator. <Amended by Act No. 5591, Dec. 28, 1998>

(2) An incorporator who has objection to the alteration under paragraph (1) may cancel subscription to his/her shares. In such cases, the incorporation procedures may be continued after amending the articles of incorporation. <Amended by Act No. 5591, Dec. 28, 1998>

(3) If no incorporator cancels subscription to his/her shares within two weeks after the receipt of notification from the court, the articles of incorporation shall be deemed to have been amended in accordance with the notification. <Amended by Act No. 5591, Dec. 28, 1998>

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