Korean Law in English
Laws › Commercial Act › Sub-Section 1 General Meeting of Shareholders

Commercial Act — Article 371 (Computation of Quorum and Number of Votes)

상법 제371조

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) In computations with respect to resolutions by a general meeting of shareholders, the number of non-voting shares under Articles 344-3 (1), 369 (2) and (3) shall be excluded from the total number of issued and outstanding shares.

(2) With respect to a resolution by a general meeting of shareholders, the number of shares for which voting rights cannot be exercised in accordance with Article 368 (3) and the number of shares for which voting rights cannot be exercised pursuant to Articles 409 (2) and (3), 542-12 (3) and (4) as shares exceeding the ratio prescribed therein shall not be counted as the number of voting rights of the shareholders present at the meeting. <Amended by Act No. 12591, May 20, 2014>[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]

‹ Article 370All articlesArticle 372 ›

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For AI agents and developers — get this article as JSON, with the English and current Korean effective dates and an outdated-translation flag, from the korea-law API or as an MCP tool: https://mcp.apify.com?tools=kr-data/korea-law