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Commercial Act — Article 474 (Public Offering and Bond Subscription Forms)

상법 제474조

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 person who intends to subscribe to bonds shall prepare a subscription form in duplicate, stating the number of bonds to which he/she intends to subscribe and his/her address, and shall write his/her name and affix his/her seal, or affix his/her signature, thereon. <Amended by Act No. 5053, Dec. 29, 1995>

(2) A bond subscription form shall be prepared by directors and contain the following: <Amended by Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995; Act No. 10600, Apr. 14, 2011>

1. The trade name of the company;

2. The total amount of capital and reserve;

3. The value of the net assets of the company indicated in the latest balance sheet;

4. The total amount of the bonds;

5. The face amount of each bond;

6. The issue price or minimum issue price of each bond;

7. The rate of interest payable on each bond;

8. Methods and timing for the redemption of bonds and for the payment of interest;

9. The amount of and timing for each payment of the subscription price of the bonds, if payment is to be made in installments;

10. If a decision has been made to restrict the bonds certificates either in bearer form or in registered form, a statement to that effect;10-2. If the right of a bond holder has been registered in the electronic registration ledger of an electronic registration agency, in lieu of issuing bond certificates, a statement to that effect;

11. If bonds have been previously issued, the amount yet to be redeemed;

12. Deleted: <by Act No. 10600, Apr. 14, 2011>

13. If there exists a company commissioned to offer bonds for subscription, the trade name and address of such company;13-2. If there exists a bond administration company, the name and address of such bond administration company;13-3. If it has been determined that a bond administration company may conduct an act set forth in Article 484 (4) 2 without obtaining a resolution at a meeting of bondholders, a statement to that effect;

14. If a company mentioned in subparagraph 13 has undertaken to subscribe to any portion of the total amount of bonds which have not been subscribed for through the public offering, a statement to that effect;

15. If a transfer agent has been designated, his/her full name, address and business office.

(3) In cases where the minimum issuance price has been determined, a bond subscriber shall state in the subscription form the amount at which he/she intends to subscribe to.

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