A company shall be liable to a third party acting in good faith for any act done by a director who has used titles that can be understood as having authority to represent the company even where the said person has no such authority, such as president, vice president, executive director, or managing director.
Laws › Commercial Act › Sub-Section 2 Directors and Board of Directors
Commercial Act — Article 395 (Acts of Apparent Representative Directors and Liability of Company)
상법 제395조
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.
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