Commercial Act — Article 626 (Crimes of False Reporting)

If a director, an executive director, a member of the audit committee, auditor, or an acting director of a company mentioned in Article 386 (2), 407 (1), 415, or 567 has made a false report to, or has concealed facts from, the court or a general meeting with respect to the value of the net assets mentioned in Article 604 (2) or 607 (2) in cases of an organizational change under Article 604 or 607, he/she shall be punished by imprisonment with labor for not more than five years or by a fine not exceeding 15 million won.[This Article Wholly Amended by Act No. 10600, Apr. 14, 2011]