How does the construction transfer and acquisition procedure proceed?

Construction transfer and acquisition is not completed merely by signing a contract; it must proceed through public notice, association procedures, and notification to administrative agencies to be effective.

Under the Framework Act on the Construction Industry, the following procedures must be followed to proceed with construction transfer and acquisition.

1. Resolution of construction business transfer and contract conclusion

The transferring corporation resolves the construction business transfer through a shareholders' meeting resolution and prepares a construction business transfer contract between the transferor and transferee.

2. Public notice of transfer

Notify creditors and other interested parties by publicly announcing the business transfer in a daily newspaper or posting it on the Korea Specialty Contractors Association website for 30 days or more.

3. Confirmation related to construction and mutual aid association

If you are a member of the mutual aid association, you must obtain an opinion letter from the mutual aid association, and if there is ongoing construction, you must obtain the orderer's consent to proceed with the succession of rights and obligations.

4. Construction transfer and acquisition notification

When the preparation procedure is complete, proceed with the construction transfer and acquisition notification to the competent local government and notify the Korea Specialty Contractors Association of the transfer.

5. Proceed with association-related procedures

The transferee will proceed with association procedures for construction business operation, such as construction capability evaluation application and management status evaluation application.

In addition, both the transferor and transferee must meet the construction business registration standards such as capital, technical personnel, guaranteed amount, and office, and if the requirements are not met during the procedure, the notification may be rejected.

Daeryun Law Firm Corporate Legal Group comprehensively reviews the entire process from contract structure review, public notice procedures, to association and administrative agency notification in the construction transfer and acquisition process, so that the construction business transfer and acquisition can proceed in accordance with the law.

In addition, legal experts such as corporate legal attorneys, accountants, and tax accountants collaborate to jointly review whether construction business registration standards are met and issues of succession of rights and obligations, assisting in legal risk management.