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Commercial Act — Article 467-2 (Prohibition of Granting Pecuniary Benefits)

상법 제467조의2

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 company may grant to any person a pecuniary benefit in connection with the exercise of his/her rights as a shareholder.

(2) If a company has given gratuitously any pecuniary benefit to a certain shareholder, such pecuniary benefit shall be presumed to have been given in connection with the exercise of his/her rights as a shareholder. The same shall also apply where a company has given for value any pecuniary benefit to a certain shareholder, but the benefit obtained by the company is considerably less than the pecuniary benefit granted to the shareholder.

(3) If a company has granted any pecuniary benefit in contravention of paragraph (1), the person who has received such benefit shall return it to the company. In such cases, if the person paid to the company any consideration for such benefit, the company may return such consideration to him/her.

(4) The provisions of Articles 403 through 406 shall apply mutatis mutandis to lawsuits for the return of benefits under paragraph (3).[This Article Newly Inserted by Act No. 3724, Apr. 10, 1984]

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

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