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Commercial Act — Article 631 (Crimes of Bribery in Relation to Disturbing Exercise of Rights, etc.)

상법 제631조

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 any person has received, demanded or promised any pecuniary benefit in response to an unlawful solicitation in connection with the following matters, he/she shall be punished by imprisonment with labor for not more than one year or by a fine not exceeding three million won: <Amended by Act No. 1212, Dec. 12, 1962; Act No. 3724, Apr. 10, 1984; Act No. 5053, Dec. 29, 1995; Act No. 5591, Dec. 28, 1998; Act No. 6086, Dec. 31, 1999; Act No. 10600, Apr. 14, 2011>

1. Making a statement or exercising voting rights at the inaugural general meeting, a general meeting of members, a general meeting of shareholders, or a meeting of bondholders;

2. Filing a lawsuit set forth in Part III or exercising the rights of shareholders representing no less than one percent or three percent of the total number of issued and outstanding shares, the rights of bondholders representing no less than 10 percent of the total amount of the bonds or the rights of members having units of investment representing no less than three percent of the capital;

3. Exercising any right set forth in Article 402 or 424.

(2) The provisions of paragraph (1) shall also apply to a person who has promised, granted, or manifested an intent to grant any pecuniary benefit mentioned in paragraph (1). <Amended by Act No. 3724, Apr. 10, 1984>

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