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Commercial Act — Article 542-6 (Minority Shareholders' Rights)

상법 제542조의6

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) Any person who has continued to hold stocks equivalent to no less than 15/1,000 of the total number of issued and outstanding shares of a listed company for more than six months may exercise shareholder's rights under Article 366 (including cases where Article 542 shall apply mutatis mutandis) and Article 467.

(2) Any person who has continued to hold stocks equivalent to no less than 10/1,000 (5/1,000 for listed companies determined by Presidential Decree) of the total number of issued and outstanding shares of a listed company, except for nonvoting stocks, for more than six months may exercise shareholder's rights under Article 363-2 (including cases where Article 542 shall apply mutatis mutandis).

(3) Any person who has continued to hold stocks equivalent to no less than 50/10,000 (25/10,000 for listed companies determined by Presidential Decree) of the total number of issued and outstanding shares of a listed company for more than six months may exercise shareholder's rights under Article 385 (including cases where Article 415 shall apply mutatis mutandis) and Article 539.

(4) Any person who has continued to hold stocks equivalent to no less than 10/10,000 (5/10,000 for listed companies determined by Presidential Decree) of the total number of issued and outstanding shares of a listed company for more than six months may exercise shareholder's rights under Article 466 (including cases where Article 542 shall apply mutatis mutandis).

(5) Any person who has continued to hold stocks equivalent to no less than 50/100,000 (25/100,000 for listed companies determined by Presidential Decree) of the total number of issued and outstanding shares of a listed company for more than six months may exercise shareholder's rights under Article 402 (including cases where Articles 408-9 and 542 shall apply mutatis mutandis). <Amended by Act No. 10600, Apr. 14, 2011>

(6) Any person who has continued to hold stocks equivalent to no less than 1/10,000 of the total number of issued and outstanding shares of a listed company for more than six months may exercise shareholder's rights under Article 403 (including cases where Articles 324, 408-9, 415, 424-2, 467-2, and 542 shall apply mutatis mutandis). <Amended by Act No. 10600, Apr. 14, 2011>

(7) A listed company may determine the holding period for shares, which is shorter than the period prescribed in paragraphs (1) through (6) in its articles of incorporation, or a ratio of holding shares, which is below the ratio prescribed in such provisions.

(8) "Shareholder" in paragraphs (1) through (6) and Article 542-7 (2) refers to a person who owns stocks, a person who has been delegated to exercise shareholder's rights, or a person who jointly exercises shareholder's rights of two or more shareholders.[This Article Newly Inserted by Act No. 9362, Jan. 30, 2009]

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