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Piercing of the Corporate Veil in Korea: Case Commentary

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Authors
Shin, Eun Young; Cho, In Yeung J.
Issue Date
2009
Publisher
BK 21 law
Citation
Journal of Korean Law, Vol.9 No.1, pp. 27-51
Keywords
Corporate EntityPiercing of Corporate VeilPrinciple of Good FaithCorporate GovernanceCorporate LawKorean Supreme Court
Abstract
The purpose of this Commentary is to critically appraise the jurisprudence of Korea on the doctrine of corporate veil piercing with a special emphasis on the Korean Supreme Court’s decision in 2004Da26119. In 2004Da26119, the Supreme Court of Korea delineated the criteria for disregarding the corporate entity under Korean corporate law, particularly in the parentsubsidiary context. As part of its purported aim, the Commentary will analyze the constitutive elements of veil piercing as understood by Korean courts and attempt to survey the evolution of jurisprudence on veil piercing leading up to 2004Da26119. The Commentary will argue that a showing of parental motive and/or purpose, which the Supreme Court required in 2004Da26119 as part of prima facie proof for veil piercing, may well dampen the overall efficacy of veil piercing in Korea, due to the evidentiary hardship it will pose in practice.
ISSN
1598-1681
Language
English
URI
http://hdl.handle.net/10371/85157
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College of Law/Law School (법과대학/대학원)The Law Research Institute (법학연구소) Journal of Korean LawJournal of Korean Law Volume 09 Number 1/2 (2009)
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