Korean Law in English
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Commercial Act — Article 593 (Members' Liabilities concerning Investments in Kind, etc.)

상법 제593조

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 the actual value of an asset mentioned in subparagraphs 1 and 2 of Article 586 as of a capital increase is substantially less than the value determined in a resolution on the capital increase, members who have agreed to the resolution shall be jointly and severally liable to pay the amount of such shortfall to the company. <Amended by Act No. 10600, Apr. 14, 2011>

(2) The provisions of Articles 550 (2) and 551 (2) shall apply mutatis mutandis in cases falling under the preceding paragraph. <Amended by Act No. 1212, Dec. 12, 1962>

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