Korean Law in English
Laws › Commercial Act › Sub-Section 2 Directors and Board of Directors

Commercial Act — Article 408 (Powers of Acting Directors)

상법 제408조

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) No acting director under the preceding Article shall do any act outside the company’s ordinary course of business, unless otherwise provided for in the order of provisional disposition: Provided, That this shall not apply where permission has been obtained from the court.

(2) The company shall be liable to a third party acting in good faith, even if an acting director has committed an act violating the preceding paragraph.

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