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Enforcement Decree of the Commercial Act — Article 44 (Procedures for imposition and collection of administrative fines)

상법 시행령 제44조

This English translation is based on the Korean text effective 2026-07-01. The Korean law has since been amended (current version effective 2026-07-23) — check the Korean original.

(1) When the Minister of Justice intends to impose an administrative fine under Article 637-2 of the Act, he or she shall investigate into and ascertain the relevant violation and then give written notice to the person upon whom the administrative fine is to be imposed, that the person shall pay the administrative fine, stating the relevant fact, amount of the administrative fine, methods and period for filing a petition for objection, etc. in detail.

(2) When the Minister of Justice intends to impose an administrative fine under paragraph (1), he or she shall provide an opportunity to make an oral or written statement (including a statement by electronic document) within a specified period of at least 10 days, to the person upon whom the administrative fine is to be imposed. If a person fails to present any statement by the specified deadline, the person shall be deemed to have no objection to the administrative fine.

(3) The Minister of Justice shall take into consideration the motive and consequences of the relevant violation, the duration and degree of the violation, etc. when he or she determines the amount of an administrative fine.

(4) Administrative fines shall be collected in accordance with the procedure for the collection of revenues under the statutes and regulations regarding the management of national funds. In such cases, a formal demand for payment shall also state the methods and period for filing a petition for objection.

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Korean original (law.go.kr) · Get articles as JSON via API

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