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Commercial Act — Article 320 (Restrictions on Asserting Invalidation or Cancellation of Share Subscription)

상법 제320조

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) Once a company comes into existence, no subscriber may assert the invalidation of his/her subscription by reason of deficiency in the requirements for the share subscription form, nor may cancel his/her subscription on the ground of fraud, duress or mistake.

(2) Provisions of the preceding paragraph shall also apply before a company comes into existence, if the subscriber has attended, and has exercised his/her rights at, the inaugural general meeting.

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Korean original (law.go.kr) · Get articles as JSON via API