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Laws › Commercial Act › SECTION 12 Liquidation

Commercial Act — Article 533 (Liquidators' Duty to Investigate Company's Assets and to Report)

상법 제533조

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) After a liquidator has assumed office, he/she shall, without delay, investigate the status of the company's assets and shall prepare an inventory list and a balance sheet and submit them to a general meeting of shareholders for approval.

(2) A liquidator shall, without delay, submit an inventory list and a balance sheet to the court after obtaining the approval under the preceding paragraph.

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