If incorporators, directors, executive directors or acting directors under Article 386 (2) or 407 (1) have issued shares in excess of the total number of shares authorized to be issued by a company, they 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]
Laws › Commercial Act › CHAPTER VII PENALTY PROVISIONS
Commercial Act — Article 629 (Crimes of Excessive Issuance)
상법 제629조
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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