If directors or auditors have neglected their duties under Article 313 (1) and are thereby liable for damages suffered by the company or third parties and if incorporators are also liable therefor, the directors, auditors and incorporators shall be liable for such damages jointly and severally.
Laws › Commercial Act › SECTION 1 Incorporation
Commercial Act — Article 323 (Joint and Several Liability of Incorporators and Executive Officers)
상법 제323조
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.
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