If the representative of a meeting of bondholders or a person authorized to execute its resolutions has taken, or caused another person to take, any pecuniary benefit by acting in breach of his/her duty and has thereby incurred damage to the bondholders, he/she shall be punished by imprisonment with labor for not more than seven years or by a fine not exceeding 20 million won. <Amended by Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995>
Laws › Commercial Act › CHAPTER VII PENALTY PROVISIONS
Commercial Act — Article 623 (Crimes of Special Misappropriation by Representative, etc. of Meetings of Bondholders)
상법 제623조
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.
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