Korean Law in English
Laws › Commercial Act › Sub-Section 2 All-Inclusive Share Swap

Commercial Act — Article 360-5 (Appraisal Rights of Dissenting Shareholders)

상법 제360조의5

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) Shareholders (including shareholders with no or limited voting rights; hereafter the same shall apply in this Article) dissenting from a resolution of the board of directors on a matter requiring approval under Article 360-3 (1) may, if they informed in writing the company of their dissent to the said resolution prior to a general meeting of shareholders, make a written request to the company for the purchase of the shares they own, stating the classes and number of such shares, within 20 days from the date of the resolution by such general meeting. <Amended by Act No. 13523, Dec. 1, 2015>

(2) Shareholders who have given a written notice to the company of their intents to oppose to the share swap within two weeks from the date of public notice or notification under Article 360-9 (2) may make a written request to the company for the purchase of shares owned by themselves, indicating the classes and number of such shares, within 20 days of the expiration of such period.

(3) The provisions of Article 374-2 (2) through (5) shall apply mutatis mutandis to requests for purchase under paragraphs (1) and (2).[This Article Newly Inserted by Act No. 6488, Jul. 24, 2001]

‹ Article 360-4All articlesArticle 360-6 ›

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For AI agents and developers — get this article as JSON, with the English and current Korean effective dates and an outdated-translation flag, from the korea-law API or as an MCP tool: https://mcp.apify.com?tools=kr-data/korea-law