With the recent amendment of the Korean Commercial Code (KCC) and the issuance of the Presidential Decree for the KCC, Korea will now allow, when specific requirements are met, the issuance of bonds including redeemable and derivative bonds under article 469 of the Commercial Code of Korea for listed and non-listed companies.
Matters relating to issuance and management may be delegated to a commissioned trustee company. Major shareholders, controlled shareholders and other interested parties are prohibited, by the law, to act as trustees.
- Korean Commercial Code Revisions Make Capital Reductions in Korea Easier
- No Court Appraisal Necessary for In-Kind Contributions to Company in Korea
- Classification of Directors in Korea under the Korean Commercial Code: Inside, Outside and Other Directors in Korea
- Establishing a Company in Korea: New Corporate Forms Available under Revised Korean Code
- Squeezing-out Minority Shareholders under Korean Corporate Law
- Limiting Director Liability under Korean Law: Don’t Drop the Insurance Policy Yet
- Limited Liability Companies under the KCC
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Sean Hayes, IPG’s Co-Chair of the Korea Practice Team, may be contacted at: SeanHayes@ipglegal.com
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