Laws › Commercial Act › SECTION 6 Reduction of Capital

Commercial Act — Article 438 (Resolutions for Reduction of Capital)

상법 제438조

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 order to reduce capital, a resolution passed in accordance with Article 434 shall be required.

(2) Notwithstanding the provisions of paragraph (1), any reduction of capital for recovery from deficit shall be made by a resolution under Article 368 (1).

(3) Major details of the agenda concerning reduction of capital shall be stated in a notice under Article 363. <Amended by Act No. 12591, May 20, 2014>[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]

Korean original (law.go.kr) · Get articles as JSON via API

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