Korean Law in English
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Commercial Act — Article 421 (Payment for New Shares)

상법 제421조

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) Directors shall cause persons who have subscribed to new shares to pay the full subscription price with respect to each share allotted to them on or before the date set for such payment.

(2) No person who has subscribed to new shares shall, without the consent of the company, offset his/her liability for payment described in paragraph (1) with his/her creditor's rights against the stock company.[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]

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