Korean Law in English
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Commercial Act — Article 565 (Representative Suits by Members)

상법 제565조

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 member who holds units of investment representing no less than three percent of the total amount of capital may demand that the company file a lawsuit against directors to compel them to perform their obligations. <Amended by Act No. 6086, Dec. 31, 1999; Act No. 10600, Apr. 14, 2011>

(2) The provisions of Articles 403 (2) through (7) and 404 through 406 shall apply mutatis mutandis to cases falling under paragraph (1). <Amended by Act No. 5591, Dec. 28, 1998>

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