Korean Law in English
Laws › Commercial Act › SECTION 1 Incorporation

Commercial Act — Article 321 (Liability of Incorporators for Subscription and Security for Payment)

상법 제321조

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) Where, after a company comes into existence, any shares issued at the time of incorporation of the company are found to have not been subscribed to or the subscription for certain shares has been cancelled, incorporators shall be deemed to have jointly subscribed to such shares.

(2) Where, after a company comes into existence, shares for which payment of the subscription price under Article 295 (1) or 305 (1) has not been completed, incorporators shall make such payment jointly and severally.

(3) The provisions of Article 315 shall apply mutatis mutandis to cases falling under the preceding two paragraphs.

‹ Article 320All articlesArticle 322 ›

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

For AI agents and developers — get this article as JSON, with the English and current Korean effective dates and an outdated-translation flag, from the korea-law API or as an MCP tool: https://mcp.apify.com?tools=kr-data/korea-law