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Corporations and Partnerships in South Korea 3rd edition [Mīkstie vāki]

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  • Formāts: Paperback / softback, 168 pages
  • Izdošanas datums: 15-May-2019
  • Izdevniecība: Kluwer Law International
  • ISBN-10: 9403511540
  • ISBN-13: 9789403511542
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Corporations and Partnerships in South Korea 3rd editionPalielināt
  • Formāts: Paperback / softback, 168 pages
  • Izdošanas datums: 15-May-2019
  • Izdevniecība: Kluwer Law International
  • ISBN-10: 9403511540
  • ISBN-13: 9789403511542
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9789403511542.html

Derived from the renowned multi-volume International Encyclopaedia of Laws, this practical analysis of the law of business formations in South Korea provides quick and easy guidance on a variety of corporate and partnership considerations such as mergers, rights and duties of interested parties, stock exchange rules, labour laws, and takeovers. Lawyers who handle transnational business will appreciate the explanation of local variations in terminology and the distinctive concepts that determine practice and procedure.

A general introduction covering historical background, definitions, sources of law, and the effect of international private law is followed by a discussion of such aspects as types of formation, capital, shares, management, control, liquidation, mergers, takeovers, holding companies, subsidiaries, and taxation. Big companies, various types of smaller entities, and partnerships are all covered in turn.  These details are presented in such a way that readers who are unfamiliar with specific terms and concepts in varying contexts will fully grasp their meaning and significance.

Thorough yet practical, this convenient volume puts the information necessary for corporations to compete effectively at the user’s fingertips. An important and practical tool for business executives and their legal counsel interested in engaging in an international partnership or embarking on corporate expansion, this book will prove a valuable time-saving tool for business and legal professionals alike. Lawyers representing parties with interests in South Korea will welcome this very useful guide, and academics and researchers will appreciate its value in the study of comparative business law.

 



This practical analysis of the law of business formations in South Korea provides guidance on a variety of corporate and partnership considerations such as mergers, rights and duties of interested parties, stock exchange rules, labour laws, and takeovers. A general introduction covering historical background, definitions, sources of law, and the effect of international private law is followed by a discussion of such aspects as types of formation, capital, shares, management, control, liquidation, mergers, takeovers, holding companies, subsidiaries, and taxation (Part III). Big companies, various types of smaller entities, and partnerships are covered.
The Authors 3(14)
List of Abbreviations 17(2)
General Introduction 19(14)
§1 The General Background Of Korea
19(3)
I Geography
19(1)
II Cultural Composition
19(1)
III Political System
20(2)
A The Constitution
20(1)
B The President and the Executive Branch
20(1)
C Local Autonomy
20(1)
D The National Assembly and Political Parties
21(1)
E The Courts and the Bar
21(1)
IV Population and Employment Statistics
22(1)
V Corporation and Partnership Statistics
22(1)
§2 Basic Information On The Legal System
22(1)
I Statutes
22(1)
II Judicial Precedents
23(1)
§3 Definitions, Notions, Structure Of Corporations And Partnerships
23(3)
I Different Types of Corporations and Partnerships
23(1)
II Civil Partnership
24(1)
III Sleeping Partnership
24(1)
IV Limited Partnership
24(1)
V Five Types of Companies
25(1)
A General Partnership Company
25(1)
B Limited Partnership Company
25(1)
C Stock Corporation
25(1)
D Limited Company
26(1)
E Limited Liability Company
26(1)
§4 Historical Background Of Corporations And Partnerships
26(2)
I Prior to the Enactment of the KCC
26(1)
II Enactment of the KCC
27(1)
III Revisions to the KCC Before 1998
27(1)
IV Revisions to the KCC Between 1998 and 2009
27(1)
V Revisions to the KCC in 2010s
28(1)
§5 Sources And Hierarchy Of The Law On Companies And Partnerships
28(1)
I Civil Code and KCC
28(1)
II Capital Markets Act
28(1)
III Act on External Audit
29(1)
IV Other Statutes
29(1)
§6 Conflict Of Law
29(1)
I Proper Law for Foreign Companies and Partnerships
29(1)
II Law Applicable to Contracts
30(1)
III Laws Applicable to Chattels, Land, and Registrable Property
30(1)
§7 The Labour Law Connection
30(3)
Part I Corporations 33(108)
Chapter 1 Stock Corporations
33(102)
§1 Incorporation
33(8)
I General Introduction
33(1)
II Actors at the Incorporation Stage
33(1)
A Promoters
33(1)
B Promoters' Partnership
34(1)
C Corporation in the Making
34(1)
III Drafting of the Articles of Incorporation
34(2)
A Introduction
34(1)
B Items Included in the Articles of Incorporation
35(1)
1 Absolute Items
35(1)
2 Relative Items
35(1)
3 Voluntary Items
35(1)
C Legal Nature and Effect of the Articles of Incorporation
36(1)
IV Forming the Substance of the Firm
36(3)
A Two Ways of Incorporation
36(1)
B Matters Concerning Issuance of Shares
37(1)
C Method (1): Incorporation by Promoters
37(1)
1 Formation of Capital
37(1)
2 Appointment of Directors and Statutory Auditors
37(1)
3 Examination by Directors and Statutory Auditors
37(1)
4 Examination by a Court-Appointed Inspector
38(1)
D Method (2): Incorporation with Outside Subscribers
38(1)
1 Subscription by Outside Investors as well as Promoters
38(1)
2 Process of Share Subscription
38(1)
3 Payment for Shares
39(1)
4 Inauguration Meeting
39(1)
V Registration of Incorporation
39(1)
VI Liability of Promoters
40(1)
A Regarding Completed Incorporation
40(1)
1 Liability for Unsubscribed or Unpaid Shares
40(1)
2 Liability for Damages to the Corporation
40(1)
3 Liability to Third Parties
40(1)
B Regarding Incomplete Incorporation
41(1)
VII Liability of Directors and Statutory Auditors
41(1)
§2 Corporate Personality
41(1)
I Corporate Personality and the Ultra Vires Doctrine
41(1)
II Lifting the Corporate Veil
41(1)
§3 Organizational Structure Of Corporations
42(19)
I Introduction
42(1)
II General Meeting of Shareholders
43(9)
A Introduction
43(1)
B Powers of the GMS
43(1)
1 Matters Set Out in the KCC
43(1)
2 Powers Set Out in the Articles of Incorporation
44(1)
3 Delegation by the General Meeting
44(1)
C Convening of the General Meeting
44(1)
1 Power to Convene
44(1)
2 Ordinary and Extraordinary General Meeting
45(1)
3 Notice of the General Meeting
45(1)
D Operation of the General Meeting
46(1)
1 Chair of the General Meeting
46(1)
2 Shareholder's Proposals
46(1)
3 Right to Vote
46(1)
4 Voting Requirements
48(1)
5 Minutes of the Meeting
49(1)
E Class Meeting
49(1)
F Lawsuits on Defective Resolutions
50(1)
1 Revocation Lawsuit
50(1)
2 Voidness Lawsuit
51(1)
3 Non-existence Lawsuit
51(1)
4 Unfairness Lawsuit
52(1)
III The Board of Directors
52(3)
A Powers and Status of the Board
52(1)
B Relationship with the General Meeting
52(1)
C Relationship with Representative Directors
53(1)
D Process of the Board Meeting
53(1)
1 Convening
53(1)
2 Resolution
53(1)
3 Minutes of the Board Meeting
54(1)
4 Challenging Defective Resolutions
54(1)
IV Representative Directors
55(4)
A General
55(1)
B Appointment and Removal of Representative Directors
55(1)
1 Appointment
55(1)
2 Removal
56(1)
3 Vacancies of Representative Director
56(1)
C Power of Representation
56(1)
D Joint Representative Directors
56(1)
1 Reasons for Joint Representation
56(1)
2 Registration of Joint Representation
57(1)
3 Power of Joint Representative Directors
57(1)
E Apparent Representative Director
57(1)
1 Background
57(1)
2 Use of Title Implying Apparent Authority
58(1)
3 Authorization of Such Title
58(1)
4 Innocence of the Counterparty
58(1)
5 Apparent Authority of Joint Representative Director
58(1)
6 Apparent Authority of Non-director
59(1)
F Tortious Acts of Representative Directors
59(1)
V Statutory Officers
59(2)
A General
59(1)
B Adoption of Statutory Officer Scheme
59(1)
C Appointment and Dismissal of Statutory Officers
60(1)
D Allocation of Powers Between the Board and Statutory Officers
60(1)
E Statutory Officer's Duty and Liability
60(1)
§4 Directors And Statutory Auditors
61(18)
I Directors
61(3)
A General
61(1)
1 Definition
61(1)
2 Number of Directors
61(1)
3 Term of Office
61(1)
4 Qualification of Directors
61(1)
5 Corporate Director
62(1)
6 Outside Director
62(1)
B Appointment and Removal of Directors
62(1)
1 Appointment
62(1)
2 End of Office
63(1)
3 Vacancy of Director's Office
64(1)
C Compensation of Directors
64(1)
II Duties of Directors
64(5)
A Directors' Fiduciary Duty
64(1)
B Business Judgment Rule
65(1)
C Duty to Monitor
66(1)
D Prohibition of Competition with the Corporation
66(1)
E Prohibition of Self-dealing Transactions
67(1)
1 Scope of the Prohibited Transactions
67(1)
2 Approval of the Board of Directors
67(1)
3 Fairness Requirement
67(1)
4 Effect of the Transaction Entered into Without the Board Approval
68(1)
F Prohibition of Misappropriation of Corporate Opportunities
68(1)
1 Scope of the Prohibited Acts
68(1)
2 Approval of the Board of Directors
69(1)
3 Remedy
69(1)
III Liabilities of Directors
69(4)
A Liability to the Company
69(1)
1 Article 399
69(1)
2 De Facto Directors' Liability
70(1)
3 Exemption or Reduction of Liability
71(1)
B Liability to Third Parties
71(1)
1 Article 401
71(1)
2 Scope of Third Party's Damage
72(1)
IV Statutory Auditors and Audit Committee
73(5)
A General
73(1)
B Statutory Auditor
73(1)
1 Election
73(1)
2 Removal
74(1)
3 Powers
74(1)
4 Duties and Liabilities
75(1)
5 Securing the Independence of Statutory Auditors
76(1)
C Audit Committee
76(1)
1 General
76(1)
2 Composition of the Committee
76(1)
3 Powers, Duties, and Liabilities
77(1)
V External Auditors
78(1)
A General
78(1)
B Appointment
78(1)
C Powers and Duties
78(1)
§5 Shareholders And Management Control
79(4)
I General
79(1)
II Right of Access to Corporate Information
80(1)
A Inspection of Accounting Books and Records
80(1)
B Inspection of Other Corporate Documents
80(1)
III Applying for Appointment of Inspectors
80(1)
IV Minority Shareholders' Remedies to Restrain Management
81(2)
A Injunctive Relief
81(1)
B Derivative Action
81(1)
1 General
81(1)
2 Statutory Requirements
81(1)
3 Other Procedural Aspects
83(1)
§6 Shares
83(11)
I Legal Capital
83(1)
A Concept of Legal Capital
83(1)
B Function of Legal Capital
84(1)
II Classes of Shares
84(2)
A Introduction
84(1)
B Preferred/Common/Subordinated Shares
85(1)
C Shares with Restrictions on Voting
85(1)
D Redeemable Shares
85(1)
E Convertible Shares
86(1)
III Share Certificate and Register of Shareholders
86(3)
A Share Certificate
86(1)
1 General
86(1)
2 Issuance of Share Certificates
87(1)
3 Shares Held Without Certificate
87(1)
B Register of Shareholders
87(1)
1 General
87(1)
2 Maintenance and Inspection of the Register
88(1)
3 Evidential Effect of Register
88(1)
4 Closure of Register and Record Date
88(1)
IV Transfer of Shares
89(3)
A Transfer and Disclosure
89(1)
1 Delivery of Share Certificate
89(1)
2 Transfer of Shares of Listed Companies under Book-Entry System
89(1)
3 Disclosure of Share Ownership
90(1)
B Restriction on Transferability Imposed by the Articles of Incorporation
90(1)
1 Request for Approval
90(1)
2 Right to Sell to the Company
91(1)
3 Request for Determination of a New Purchaser
91(1)
C Restriction on Transferability by Shareholder Agreements
91(1)
V Statutory Restriction on Share Acquisition
92(1)
A Share Repurchases
92(1)
1 Repurchases from Distributable Profits
92(1)
2 Repurchases Not from Distributable Profits
92(1)
3 Treasury Shares
92(1)
B Subsidiary's Acquisition of Parent's Shares
93(1)
VI Share Split and Reverse Split
93(1)
§7 Corporate Finance
94(8)
I Introduction
94(1)
II Issuance of New Shares
94(4)
A General
94(1)
B Shareholder's Pre-emptive Right
94(1)
1 Pre-emptive Right in General
94(1)
2 Remedies for Existing Shareholders
95(1)
3 Issuance of Unsubscribed Shares
95(1)
C Ordinary Procedures
95(1)
1 Decision by the Board of Directors and Notification
95(1)
2 Subscription
96(1)
3 Payment
96(1)
4 Registration
96(1)
5 Effective Date
96(1)
D Issue Price
97(1)
E Illegal Issuance
97(1)
III Issuance of Bonds
98(3)
A General
98(1)
B Issuance
98(1)
1 Recent Abolition of Restrictions
98(1)
2 Methods of Issuance
98(1)
3 Procedures of Issuance
99(1)
C Protection of Bondholders
99(1)
1 Bond Management Company
99(1)
2 Trustee Company
99(1)
3 Meeting of Bondholders
100(1)
D Special Types of Bonds
100(1)
1 Convertible Bonds and Bonds with Warrant
100(1)
2 Bonds Newly Introduced in 2011 Amendment
100(1)
IV Disclosure Under the CMA
101(1)
A General
101(1)
B Regulation of Public Offerings
101(1)
1 Registration
101(1)
2 Definition of a Public Offering
101(1)
3 Prospectus
102(1)
C Sanctions under the CMA
102(1)
§8 Accounting And Dividends
102(5)
I General
102(1)
II Financial Statements
103(1)
A Preparation
103(1)
B Audit
103(1)
C Approval
104(1)
D Disclosure
104(1)
III Dividends
104(2)
A Maximum Dividend Amount
104(1)
B Illegal Dividends
105(1)
C Procedural Requirements
105(1)
D Interim Dividends
106(1)
E Dividend in Kind
106(1)
F Stock Dividends
106(1)
IV Reserves
106(1)
A General
106(1)
B Statutory Reserves
107(1)
C Voluntary Reserves
107(1)
§9 Amendment Of Articles Of Incorporation
107(1)
I Process of Amendment
107(1)
II Effect of Amendment
108(1)
§10 Corporate Restructuring
108(12)
I Reduction of Legal Capital
108(2)
A Process of Reduction
108(1)
1 Shareholders' Special Resolution
108(1)
2 Protection of Creditors
109(1)
B Methods of Reduction
109(1)
1 General
109(1)
2 Decrease of Par Value
109(1)
3 Decrease of Number of Shares
109(1)
C Effect of Reduction
110(1)
II Transfer and Purchase of Undertaking
110(1)
A Procedures for Transfer of Undertaking
110(1)
B Protection of Dissenting Shareholders
110(1)
III Mergers and Divisions
111(5)
A Mergers
111(1)
1 Definition of Merger
111(1)
2 Procedures of Merger
111(1)
3 Short-Form Merger and Small-Scale Merger
113(1)
4 Triangular Merger and Cash-Out Merger
113(1)
5 Effect of Merger
114(1)
B Division
114(1)
1 Definition and Types of Division
114(1)
2 Division Procedures
114(1)
3 Effect of Division or Division-Merger
116(1)
IV Takeover
116(3)
A General
116(1)
B Procedures for Tender Offer
117(1)
1 Public Notice of Tender Offer and Submission of Tender Offer Statement
117(1)
2 Disclosure of Tender Offer Prospectus
117(1)
3 Tender Offer Period
117(1)
4 Restrictions on Activities of Offer or Target Company
118(1)
5 Price and Consideration
118(1)
6 Target Company's Opinion on Tender Offer
118(1)
7 Revocation of Tender Offer
118(1)
8 Withdrawal by Shareholders
119(1)
9 Purchase of Tendered Shares
119(1)
C Mandatory Tender Offer
119(1)
V Squeeze-Out and Sell-Out
119(1)
§11 Reorganizing Companies In Trouble
120(11)
I General
120(1)
II Rehabilitation under the CRPA
121(1)
A Process of Rehabilitation Proceeding
121(1)
1 Application for Rehabilitation Proceeding
121(1)
2 Suspension of Enforcement and Operation of the Creditor Commission
121(1)
3 Commencement of the Rehabilitation Proceeding and Approval of Restructuring Plan
121(1)
B Effect of Restructuring Plan and Termination of Rehabilitation Proceeding
122(1)
III Rehabilitation under the DRBA
122(5)
A Process of Rehabilitation Proceeding
122(1)
1 Application for Rehabilitation Proceeding
122(1)
2 Provisional Order and Temporary Stay Order
123(1)
3 Commencement of Proceeding
123(1)
4 Appointment of the Administrator
123(1)
5 Authority of the Administrator
124(1)
6 Report of Claims
125(1)
7 Rehabilitation Plan
125(1)
8 Court Approval
126(1)
B Effect of Approved Rehabilitation Plan
126(1)
C Termination of Rehabilitation Proceeding
127(1)
1 Successful Termination
127(1)
2 Unsuccessful Termination
127(1)
IV Bankruptcy Proceedings
127(4)
A Process of Bankruptcy Proceeding
128(1)
1 Application for Bankruptcy Proceeding
128(1)
2 Provisional Order and Declaration of Bankruptcy
128(1)
3 Administration of Bankruptcy Estate
128(1)
4 Report of Claim and Claim Type
129(1)
5 Liquidation and Distribution of Assets
130(1)
6 Termination of Bankruptcy Proceeding
130(1)
B Effect of Bankruptcy Proceeding
131(1)
§12 Liquidation By The Members
131(1)
I General
131(1)
II Dissolution
131(1)
III Liquidation
132(1)
§13 Holding Companies And Subsidiaries
132(3)
I Holding Companies under the MRFTA
132(1)
A Background
132(1)
B Regulations
133(1)
II Financial Holding Companies
133(2)
Chapter 2 Limited Companies (GmbH)
135(6)
§1 General
135(1)
§2 Formation
135(1)
§3 Members
135(1)
I Eligibility and Number of Members
135(1)
II Rights of Members
136(1)
III Obligations of Members
136(1)
IV Transfer of Holdings
136(1)
§4 Management And Control
136(3)
I Members' Meeting
136(2)
A Supremacy and Flexibility of Members' Meeting
136(1)
B Convening of Members' Meeting
137(1)
C Votes and Resolutions
137(1)
1 Votes
137(1)
2 Resolutions
137(1)
II Directors
138(1)
A General
138(1)
B Appointment and Removal
138(1)
C Management of Company
138(1)
D Representation of Company
138(1)
E Duties and Liabilities of Directors
138(1)
III Statutory Auditors
139(1)
§5 Mergers
139(2)
Part II Partnership Companies 141(8)
Chapter 1 General Partnership Companies
142(2)
§1 Formation
142(1)
§2 Membership And Management
142(1)
I Contribution by Members
142(1)
II Management
142(1)
III Members' Meeting
142(1)
IV Transfer of Membership
143(1)
§3 Liability Of Members
143(1)
Chapter 2 Limited Partnership Companies
144(2)
§1 General
144(1)
§2 Formation
144(1)
§3 Membership And Management
144(1)
I Contributions
144(1)
II Management
144(1)
A Management and Representation of the Company
144(1)
B Disqualification
145(1)
C Investigation by the Members with Limited Liabilities
145(1)
III Duties of Members
145(1)
IV Transfer of Membership
145(1)
§4 Liability Of Members
145(1)
Chapter 3 Limited Liability Companies
146(3)
§1 General
146(1)
§2 Formation
146(1)
§3 Membership And Management
146(1)
I Transfer of Membership
146(1)
II Management
146(1)
A Executive Manager
146(1)
B Duties of Managers
147(1)
III Members' Meeting
147(1)
§4 Liability Of Members
147(2)
Part III. Tax Law 149(4)
§1 General
149(1)
I Tax System in Korea
149(1)
II Income Tax
149(1)
III Corporate Tax
149(1)
§2 Taxable Entities Under The CTA
150(1)
§3 Taxation On Transactions Between The Company And Shareholders
150(2)
I Incorporation
150(1)
II Distributions
151(1)
A Separate Tax Treatment
151(1)
B Imputation System for Double Taxation
151(1)
C Constructive Dividend
151(1)
III Liquidation
151(1)
§4 Mergers
152(1)
I Merged Corporation
152(1)
II Surviving Corporation
152(1)
III Shareholders of the Merged Corporation
152(1)
Selected Bibliography 153(4)
Index 157