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Commercial Act — Article 523-2 (Special Provisions where Consideration for Merger is Parent Company's Stocks)

상법 제523조의2

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) Notwithstanding Article 342-2, where assets to be provided to the shareholders of a company that ceases to exist pursuant to subparagraph 4 of Article 523 include the shares of the parent company of a surviving company, the surviving company may acquire the shares of its parent company for the provision. <Amended by Act No. 13523, Dec. 1, 2015>

(2) Where a surviving company continues to own the shares of its parent company it has acquired pursuant to paragraph (1) after the merger, it shall dispose of such shares within six months from the date the merger takes effect. <Newly Inserted by Act No. 13523, Dec. 1, 2015>[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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