Seoul High Court 2009Nu2698 (209.02)

Those who gain profits through the procedure of waiver and acceptance of preemptive rights shall be subject to deemed donation.

It is intended to impose gift tax on the gift equivalent to the difference between the value of new shares and the value of subscribed value through the procedure of renunciation and acceptance of preemptive rights, and it is stipulated that such gift shall be deemed a gift regardless of whether there is an intention of donation to the shareholder who has renounced the preemptive rights. Therefore, this is not a presumption provision, but a constructive provision within the original meaning

The contents of the decision shall be the same as attached.

The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The records of this case and the judgment of the court below and the grounds of appeal were examined. However, the grounds of appeal by the appellant are not included in the grounds prescribed in each subparagraph of Article 4(1) of the Act on Special Cases Concerning the Procedure for Appeal, and the appeal is dismissed under Article 5 of the same Act. It is so decided as per Disposition by the assent of all participating