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Monopoly Regulation and Fair Trade Act — Article 29 (Resolutions by board of directors of public interest corporations that are related parties and disclosure thereof)

독점규제 및 공정거래에 관한 법률 제29조

This English translation is based on the Korean text effective 2026-05-12. The Korean law has since been amended (current version effective 2026-10-02) — check the Korean original.

(1) Where a public interest corporation that is a related party to the same person who controls a member company of a business group subject to disclosure intends to engage in any of the following trading or to change material facts, it shall disclose such after prior resolution by the board of directors:

1. Acquisition or disposal of shares of a domestic member company of the relevant business group subject to disclosure;

2. Any of the following trading on a scale equivalent to or larger than that prescribed by Presidential Decree, with or for a related party (excluding overseas affiliates; hereafter in this Article, the same shall apply) to the relevant business group subject to disclosure:a. Offering or trading funds, such as provisional payments or loans;b. Offering or trading securities, such as shares or corporate bonds;c. Offering or trading assets, such as real estate or intangible property rights;d. Offering or trading goods or services with or for an affiliate prescribed by Presidential Decree, taking into account the composition of shareholders, etc.

(2) Article 26(2) and (3) shall apply mutatis mutandis to disclosure prescribed in paragraph (1).

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