Article 9 (Succession to Manufacturing Business)

Article 9 (Succession to Manufacturing Business) (1) If a manufacturer transfers his or her manufacturing business or dies, or if merger of corporations occurs, the transferee, the heir, or the surviving corporation after the merger or the corporation established as a consequence of the merger (hereinafter referred to as "transferee, etc.") shall succeed to the manufacturer's status. (2) A person who acquires manufacturing facilities entirely through an auction under the Civil Execution Act, realization proceedings under the Debtor Rehabilitation and Bankruptcy Act, a sale of seized property under the National Tax Collection Act, the Customs Act, or the Local Tax Collection Act, or any other similar proceedings shall succeed to the manufacturer's status. <Amended on Mar. 31, 2010; Dec. 27, 2016> (3) A person who succeeds to the manufacturer's status pursuant to paragraph (1) or (2) shall report it to the competent Mayor/Do Governor within 30 days, as prescribed by Ministerial Decree of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013> (4) Article 25 shall apply mutatis mutandis to a person who succeeds to the manufacturer's status pursuant to paragraphs (1) and (2).