Korean Law in English
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Commercial Act — Article 406 (Representative Suits and Lawsuits for Retrial)

상법 제406조

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 the plaintiff and defendant in a lawsuit under Article 403 have procured a judgment to be rendered by their collusion for the purpose of fraudulently injuring the rights of the company, which is the subject matter of the case, the company or shareholders may file a lawsuit seeking retrial against the final and conclusive judgment.

(2) The provisions of the preceding Article shall apply mutatis mutandis to lawsuits under the preceding paragraph.

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