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Commercial Act — Article 381 (Lawsuit Seeking Revocation or Alteration of Improper Resolution)

상법 제381조

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 cases where a considerably improper resolution is adopted at a general meeting of shareholders where a certain shareholder is unable to exercise his/her voting rights in accordance with Article 368 (3) and the adoption of such resolution could have been avoided if he/she had exercised his/her voting rights, that shareholder may file a lawsuit seeking revocation or alteration of the resolution within two months from the date of the resolution. <Amended by Act No. 12591, May 20, 2014>

(2) The provisions of Articles 186 through 188, 190 (the main body), 191, 377 and 378 shall apply mutatis mutandis to lawsuits filed under paragraph (1). <Amended by Act No. 5591, Dec. 28, 1998>

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