TITLE	Supreme Court Decision 2021Da291712 Decided June 29, 2023 ¡¼Damages (Etc.)¡½ [full Text]
Summary
¡¼Main Issues and Holdings¡½ Where the director, etc. failed to obtain consent of the board of directors pursuant to Article 398 of the Commercial Act when engaging in a transaction with the company on his or her own account or on the account of a third party, the validity of such transaction (invalid in principle), and where the director, etc. acquired retrospective consent of the board of directors, whether a void transaction becomes valid (negative in principle) Where the board of directors has approved of transactions between the director, etc. and the company, without the director, etc. having disclosed material facts regarding the transaction, whether it can be said that there is an approval of the board of directors as stipulated in Article 398 of the Commercial Act (negative)

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