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Commercial Act — Article 634-2 (Crimes of Granting Benefits in Connection with Exercise of Shareholder's Rights)

상법 제634조의2

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 a director, an executive director, a member of the audit committee, an auditor, an acting director under Article 386 (2), 407 (1) or 415, a manager or other employees of a stock company has granted any pecuniary benefit on the company's account in connection with the exercise of shareholder's right, 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. 5053, Dec. 29, 1995; Act No. 6086, Dec. 31, 1999; Act No. 10600, Apr. 14, 2011>

(2) The provisions of paragraph (1) shall also apply to a person who has received, or caused another person to grant, benefits under paragraph (1).[This Article Newly Inserted by Act No. 3724, Apr. 10, 1984]

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