(1) A company may establish a wholly owning parent company based on an all-inclusive share transfer under this Sub-Section (hereafter in this Sub-Section, referred to as "share transfer"), and become a wholly owned subsidiary.
(2) Shares of a company becoming a wholly owned subsidiary based on a share transfer, which are owned by its shareholders, shall be transferred to a wholly owning parent company established based on the share transfer, and the shareholders of the relevant wholly owned subsidiary shall become the shareholders of the relevant wholly owning parent company by receiving allotment of shares issued by the relevant wholly owning parent company for the share transfer.[This Article Newly Inserted by Act No. 6488, Jul. 24, 2001]