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Commercial Act — Article 462 (Dividends)

상법 제462조

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) A company may pay dividends within the limit of the value of net assets stated on the balance sheets after deducting the following:

1. The amount of capital;

2. The total amount of the capital reserve and the earned surplus reserve accumulated until the pertinent period for the settlement of accounts of the company;

3. The amount to be accumulated for the pertinent period for the settlement of accounts of the company;

4. Unrealized profits determined by Presidential Decree.

(2) Each payment of dividends shall be determined by resolution of a general meeting of shareholders: Provided, That the same shall be determined by resolution of the board of directors in cases where the board of directors approves financial statements pursuant to Article 449-2 (1).

(3) In cases where dividends have been paid in violation of paragraph (1), any creditor of the company may claim a refund of such dividends to the company.

(4) The provisions of Article 186 shall apply mutatis mutandis to a lawsuit relating to a claim under paragraph (3).[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]

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

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