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Commercial Act — Article 520 (Judgment of Dissolution)

상법 제520조

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) If, in any of the following cases, there exist unavoidable reasons, any shareholder who holds shares representing no less than 10 percent of the total number of issued and outstanding shares may request a court to dissolve the company:

1. When the company's business operation continues to be considerably in deadlock and as a result irreparable damage to the company is or is likely to be caused;

2. When the management or disposal of the company's assets is considerably improper and thereby threatens existence of the company.

(2) The provisions of Articles 186 and 191 shall apply mutatis mutandis to applications under the preceding paragraph.

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