Korean Law in English
Laws › Commercial Act › Sub-Section 4 Controlling Shareholders' Acquisition of All Shares Owned by Minority Shareholders

Commercial Act — Article 360-26 (Transfer of Shares, etc.)

상법 제360조의26

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) When a controlling shareholder who acquires shares pursuant to Articles 360-24 and 360-25 pays to a minority shareholder the sales price, transfer of the shares shall be deemed to have been made.

(2) In cases where the minority shareholder, to whom the sales price mentioned in paragraph (1) is to be paid, is unknown or the minority shareholder refuses to receive the sales price, the controlling shareholder may publicly deposit the sales price. In such cases, transfer of the shares shall be deemed to have been made to the controlling shareholder on the date of the public deposit.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

‹ Article 360-25All articlesArticle 361 ›

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