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Commercial Act — Article 322 (Liability of Incorporators for Damages)

상법 제322조

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 an incorporator has neglected his/her duties in connection with the incorporation of the company, he/she shall be jointly and severally liable for damages suffered by the company.

(2) If an incorporator has neglected his/her duties in bad faith or by gross negligence, he/she shall be jointly and severally liable for damage to a third party.

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

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