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LLC Operating Agreement — South Korea

Governing law referenceUnfair Competition Prevention and Trade Secret Protection Act (UCPA)
Local enforcement bodyKorean Intellectual Property Office (KIPO) / civil and criminal courts
Average legal fee range₩200,000–₩500,000/hrpending legal review
Compliance requirementShould specify member voting rights, capital contributions, and procedures for admitting or removing members.
Penalty for violationAbsence of an operating agreement typically defaults to the jurisdiction's standard company statute, which may not reflect the members' intentions.pending legal review
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