| (1) | When a company convokes a general meeting, it shall give a written notice, or an electronic document to each shareholder by obtaining the consent of each shareholder, at least two weeks prior to the day set for such general meeting: Provided, That if such a notice has not arrived at the address of a shareholder entered on the register of shareholders for three consecutive years, the company may choose not to give such a notice to that shareholder. |
| (2) | The written notice under paragraph (1) shall state the subject matters of the meeting. |
| (3) | If the company has issued a bearer share certificate, it shall give a public notice stating its intention to hold the general meeting and the subject matters of the meeting at least three weeks prior to the day set for such meeting. |
| (4) | Notwithstanding paragraphs (1) and (3), if a company, the total capital of which is less than one billion won, convokes a general meeting, it may give a written notice, or an electronic document to each shareholder by obtaining the consent of each shareholder, at least ten days prior to the day set for such general meeting; if the company has issued a bearer share certificate, it may give a public notice stating its intention to hold the general meeting and the subject matters of the meeting at least two weeks prior to the day set for such meeting. |
| (5) | A company, the total capital of which is less than one billion won, may hold a general meeting without taking a convocation procedure, if all the shareholders consent to do so, and the resolution of a general meeting may be substituted for by a written resolution. If all the shareholders consent to the subject matter of a resolution in writing, a written resolution shall be deemed made. |
| (6) | The written resolution under paragraph (5) shall take the same effect as the resolution by the general meeting. |
| (7) | Provisions concerning the general meeting shall apply mutatis mutandis to the written resolution. |
| (8) | Paragraphs (1) through (5) shall not apply in respect of the shareholders who are not entitled to vote. |
[This Article Wholly Amended by Act No. 9746, May 28, 2009]