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Commercial Act — Article 302 (Application for Share Subscription and Matters Required to be Entered in Share Subscription Form)

상법 제302조

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 person who intends to subscribe to shares shall complete a share subscription form in duplicate, in which the class and number of shares to which he/she is to subscribe and his/her address are stated, and shall write his/her name and affix his/her seal or shall affix his/her signature, thereon. <Amended by Act No. 5053, Dec. 29, 1995>

(2) Incorporators shall prepare a share subscription form in which the following matters are entered: <Amended by Act No. 1212, Dec. 12, 1962; Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995; Act No. 10600, Apr. 14, 2011>

1. The date of notarization of the articles of incorporation, and the name of the notary public;

2. The matters listed in Articles 289 (1) and 290;

3. The period of existence or reasons for dissolution of the company, if determined;

4. The class and number of shares subscribed to by incorporators;

5. The matters listed in Article 291;5-2. Provisions that transfer of shares requires the approval of the board of directors, if so determined;

6. Deleted; <by Act No. 10600, Apr. 14, 2011>

7. Retirement of shares out of profits to be distributed to shareholders, if so determined;

8. A statement to the effect that the subscription of shares may be cancelled if the inaugural general meeting is not closed by a fixed date;

9. The bank and any other financial institution in charge of the payment of the subscription price and the place for payment;

10. The name, address and business office of a transfer agent, if any.

(3) The proviso to Article 107 (1) of the Civil Act shall not apply to application for share subscription. <Amended by Act No. 1212, Dec. 12, 1962>

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