"Where an oligopolistic stockholder acquires 1/2 of stocks at once" in Article 105 (6) of the former Local Tax Act (Act No. 1977) 105 (6) , whether it falls under a case where an oligopolistic stockholder acquires 1/2 of stocks at once from an oligopolistic stockholder.

The purpose of Article 105 (6) of the former Local Tax Act (Act No. 1977) is to cases where an oligopolistic shareholder takes over at least 1/2 of the total number of stocks of the relevant corporation as a result of acquiring the stocks of the relevant corporation again while the number of stocks that were acquired at once is not less than 1/2 of the total number of stocks of the relevant corporation, even if the number of stocks that were acquired at once is not less than 1/2 of the total number of stocks of the relevant corporation, is to cases where the oligopolistic shareholder takes over at least 1/2 of the total number of stocks of the relevant corporation at once

Attorney Lee Jong-soo et al., Counsel for the plaintiff-appellant

Attorney Kim Jong-young, Counsel for the defendant-appellant

Seoul High Court Decision 71Gu385 delivered on September 12, 1972

The original judgment is reversed and the case is remanded to the Seoul High Court.

After having judged the grounds of appeal by the Defendant’s legal representative, the original judgment is examined ex officio.

Based on its evidence, the court below found that 130,00 shares of the non-party company owned by the non-party company to be 150,000 shares of the non-party company to be 150,000 shares of the non-party company (hereinafter referred to as the "ship company") and again, 20,00 shares of the "ship company" acquired by the plaintiff from the non-party company to 25,00 shares of the non-party company from July 25, 197, 50 shares issued by the company (150,00 shares of the "ship company" are 30,000 shares issued by the "ship company" as of July 25, 1970. According to the provisions of Article 105 (6) of the Local Tax Act enforced at the time, the court below determined that the plaintiff's shares of the company falling under the provisions of each subparagraph of Article 22 of the same Act were acquired by the non-party company's oligopolistic shareholders and thus, it did not constitute 2500,0,000 shares of the company.

According to Article 105 (6) of the Local Tax Act newly established by the amendment of the Local Tax Act (Act No. 1977, Nov. 29, 1967, which was enforced from January 1, 1968) which was enforced at the time of this case, where an oligopolistic stockholder takes over 1/2 or more of the stocks or shares of the corporation concerned at once from a stockholder or partner under the provisions of each subparagraph of Article 22 of the same Act and his oligopolistic stockholder, he shall be deemed to have acquired the real estate, vehicles, heavy trees, standing trees, or shares of the corporation concerned. This provision provides that the oligopolistic stockholder shall be deemed to have no intention to be an oligopolistic stockholder, and even if the number of shares acquired by the corporation is not less than 1/2 of the total number of shares of the corporation concerned, it shall be deemed that the court below's decision is objectively null and void because it constitutes a violation of the above provision of the Local Tax Act, and it shall be deemed that the above provision of the Local Tax Act does not have more than 2/1/1/2 of the total shares of the corporation concerned.

Therefore, the original judgment is reversed, and the case is remanded to the Seoul High Court. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Red Man-Man (Presiding Justice) No. 544, Dec. 1, 200