{"id":1435,"date":"2026-07-07T20:43:22","date_gmt":"2026-07-07T20:43:22","guid":{"rendered":"https:\/\/atlaw.kr\/en-blog\/?p=1435"},"modified":"2026-07-07T20:44:58","modified_gmt":"2026-07-07T20:44:58","slug":"venture-rcps-agreement-guide-south-korea","status":"publish","type":"post","link":"https:\/\/atlaw.kr\/en-blog\/venture-rcps-agreement-guide-south-korea\/","title":{"rendered":"Redeemable Convertible Preferred Stock (RCPS) Investment and Shareholders Agreements in South Korea"},"content":{"rendered":"<p><!-- ATLAS_HREFLANG_START -->\n<link rel=\"alternate\" hreflang=\"ko\" href=\"https:\/\/atlaw.kr\/kr-blog\/venture-rcps-agreement-guide-kr\/\" \/>\n<link rel=\"alternate\" hreflang=\"en\" href=\"https:\/\/atlaw.kr\/en-blog\/venture-rcps-agreement-guide-south-korea\/\" \/>\n<link rel=\"alternate\" hreflang=\"x-default\" href=\"https:\/\/atlaw.kr\/kr-blog\/venture-rcps-agreement-guide-kr\/\" \/>\n<!-- ATLAS_HREFLANG_END --><\/p>\n<style>@import url('https:\/\/cdn.jsdelivr.net\/gh\/orioncactus\/pretendard@v1.3.9\/dist\/web\/static\/pretendard.css'); 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} .dl-btn { font-size:13px; padding:8px 14px; } .dl-head { padding:16px 16px; } .series-box { padding:18px 16px; } .author-box { display:block; overflow:hidden; } .author-avatar { float:left; width:36px; height:36px; margin-right:10px; } .author-section-label { display:inline; font-size:11px; letter-spacing:0; margin:0 3px 0 0; } .author-name { display:inline; font-size:14px; } .author-detail { clear:both; font-size:13px; line-height:1.55; margin-top:8px; } .author-link { clear:both; display:block; font-size:13px; margin-top:8px; } p.closing { font-size:14px; } }<\/style>\n<p><!-- ATLAS_SEO_BLOCK_START --><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Article\",\"@id\":\"https:\/\/atlaw.kr\/en-blog\/venture-rcps-agreement-guide-south-korea\/#article\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/atlaw.kr\/en-blog\/venture-rcps-agreement-guide-south-korea\/#webpage\"},\"headline\":\"Redeemable Convertible Preferred Stock (RCPS) Investment and Shareholders Agreements in South Korea\",\"description\":\"A guide to redeemable convertible preferred stock (RCPS), the most common VC instrument in South Korea \u2014 covering redemption rights, redemption price and source, and the SPA and SHA.\",\"datePublished\":\"2026-07-08T09:00:00+09:00\",\"dateModified\":\"2026-07-08T09:00:00+09:00\",\"inLanguage\":\"en-US\",\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/atlaw.kr\/taejin-kim\/#person\",\"name\":\"Taejin Kim\",\"alternateName\":\"\uae40\ud0dc\uc9c4\",\"jobTitle\":\"Managing Partner\",\"worksFor\":{\"@id\":\"https:\/\/atlaw.kr\/#legalservice\"}},\"publisher\":{\"@type\":\"LegalService\",\"@id\":\"https:\/\/atlaw.kr\/#legalservice\",\"name\":\"Atlas Legal\",\"url\":\"https:\/\/atlaw.kr\"},\"about\":[\"Redeemable convertible preferred stock (RCPS) in South Korea\",\"redemption right price and distributable profits\",\"Korean Commercial Act Article 345 redeemable shares\",\"RCPS shareholders agreement\"]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/atlaw.kr\/en-blog\/venture-rcps-agreement-guide-south-korea\/#faqpage\",\"inLanguage\":\"en-US\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the difference between RCPS and CPS?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"RCPS is convertible preferred stock (CPS) with an added redemption right. RCPS lets the investor demand redemption of the investment under certain conditions, giving stronger protection.\"}},{\"@type\":\"Question\",\"name\":\"Does a redemption right always guarantee return of principal?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. Under the Korean Commercial Act, redemption is possible only within the company's distributable profits, so if profits are insufficient, redemption may not actually occur even if the right exists.\"}},{\"@type\":\"Question\",\"name\":\"How is the redemption price calculated?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is generally the investment principal plus an agreed rate of return, commonly on a compound (IRR) basis. The specific rate and method are set in the contract.\"}},{\"@type\":\"Question\",\"name\":\"Is RCPS equity or debt for accounting?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Depending on the redemption terms, it may be classified as debt. In particular, for companies applying K-IFRS, it can affect the financial statements, so confirm in advance.\"}},{\"@type\":\"Question\",\"name\":\"What contracts does an RCPS investment require?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Under the 2026 split structure, an RCPS Investment Agreement (SPA) and a Shareholders Agreement (SHA) are used together. You can download both forms below.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":[\"LegalService\",\"LocalBusiness\"],\"@id\":\"https:\/\/atlaw.kr\/#legalservice\",\"name\":\"Atlas Legal\",\"alternateName\":[\"\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\",\"Atlas Law Firm\"],\"url\":\"https:\/\/atlaw.kr\/en\/home-en\/\",\"telephone\":\"+82-32-864-8300\",\"email\":\"info@atlaw.kr\",\"priceRange\":\"$$$\",\"address\":{\"@type\":\"PostalAddress\",\"streetAddress\":\"B-2901, 323 Incheon Tower-daero\",\"addressLocality\":\"Yeonsu-gu, Incheon\",\"addressRegion\":\"Incheon Metropolitan City\",\"postalCode\":\"22007\",\"addressCountry\":\"KR\"},\"geo\":{\"@type\":\"GeoCoordinates\",\"latitude\":37.399438,\"longitude\":126.629812},\"openingHoursSpecification\":[{\"@type\":\"OpeningHoursSpecification\",\"dayOfWeek\":[\"Monday\",\"Tuesday\",\"Wednesday\",\"Thursday\",\"Friday\"],\"opens\":\"09:00\",\"closes\":\"18:00\"}],\"areaServed\":[{\"@type\":\"Country\",\"name\":\"South Korea\"},{\"@type\":\"Place\",\"name\":\"Songdo International Business District\"},{\"@type\":\"Place\",\"name\":\"Cheongna International City\"},{\"@type\":\"Place\",\"name\":\"Yeongjong International City\"},{\"@type\":\"Place\",\"name\":\"Incheon\"},{\"@type\":\"Place\",\"name\":\"Seoul Metropolitan Area\"},{\"@type\":\"Place\",\"name\":\"Incheon Free Economic Zone (IFEZ)\"}],\"knowsAbout\":[\"Venture Investment Contracts in South Korea\",\"KVCA Standard Investment Agreements in South Korea\",\"Convertible Preferred Stock (RCPS\/CPS) under Korean law\",\"Convertible Bonds and Bonds with Warrants in South Korea\",\"Shareholders Agreements in South Korea\",\"Startup Financing Legal Services in South Korea\"],\"serviceType\":[\"Venture Investment Contract Review\",\"Shareholders Agreement Negotiation\",\"Startup and Founder Legal Counsel\",\"Foreign Direct Investment Legal Services\",\"Corporate Counseling\"]}<\/script><!-- ATLAS_SEO_BLOCK_END --><\/p>\n<div class=\"hero\">\n<span class=\"category-tag\">Corporate Counseling \u00b7 Venture Investment<\/span><\/p>\n<div class=\"hero-title\">Redeemable Convertible Preferred Stock<br \/>(RCPS) Agreements in South Korea<\/div>\n<div class=\"hero-meta\">\n<div class=\"hero-info\"><strong>Taejin Kim<\/strong> \u00b7 Managing Partner, Atlas Legal<br \/>Based on the Korea Venture Capital Association (KVCA) standard contracts, revised April 2026<\/div>\n<\/div>\n<\/div>\n<div class=\"content\">\n<div class=\"direct-answer\"><strong>Quick answer:<\/strong> Redeemable convertible preferred stock (RCPS) is convertible preferred stock plus a <strong>redemption right<\/strong>, letting the investor seek repayment under certain conditions. It is the most widely used instrument in Korean VC investment. Redemption is possible only within the company&#8217;s <strong>distributable profits (Korean Commercial Act Article 345)<\/strong>, and founders should weigh both the redemption burden and joint-and-several liability.<\/div>\n<div class=\"toc-nav\">\n<p class=\"toc-label\">Contents<\/p>\n<ol>\n<li><a href=\"#sec-1\">1. What is RCPS, and why is it the most used?<\/a><\/li>\n<li><a href=\"#sec-2\">2. When is the redemption right exercised?<\/a><\/li>\n<li><a href=\"#sec-3\">3. How are the redemption price and source set?<\/a><\/li>\n<li><a href=\"#sec-4\">4. What do you look at in the SPA vs. the SHA?<\/a><\/li>\n<li><a href=\"#sec-5\">5. What should founders watch out for?<\/a><\/li>\n<li><a href=\"#sec-dl\">Download the RCPS contracts<\/a><\/li>\n<li><a href=\"#sec-faq\">Frequently Asked Questions<\/a><\/li>\n<\/ol>\n<\/div>\n<p class=\"lead-text\">In Korean venture investment, saying &#8220;we raised on RCPS&#8221; is almost a default \u2014 redeemable convertible preferred stock is the most common instrument.<\/p>\n<p class=\"context-text\">On top of the preference and conversion rights of convertible preferred stock, RCPS adds a redemption right to &#8220;get the investment back under certain conditions,&#8221; giving investors the strongest protection. That, in turn, creates a potential redemption burden for the company. This article explains how the redemption right works, the key contract clauses, and what founders should watch, with the 2026 revised KVCA standard forms available below.<\/p>\n<div class=\"series-box\">\n<div class=\"s-label\">Venture Investment Standard Contracts Series<\/div>\n<ol>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-standard-contract-2026-changes-south-korea\/\">2026 Amendments: What Changed<\/a><\/li>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-cps-agreement-guide-south-korea\/\">Convertible Preferred Stock (CPS) Agreements<\/a><\/li>\n<li class=\"cur\">Redeemable CPS (RCPS) Agreements (this article)<\/li>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-common-stock-agreement-guide-south-korea\/\">Common Stock Agreements<\/a><\/li>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-cb-agreement-guide-south-korea\/\">Convertible Bond (CB) Agreement<\/a><\/li>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-bw-agreement-guide-south-korea\/\">Bond with Warrant (BW) Agreement<\/a><\/li>\n<li><a href=\"https:\/\/atlaw.kr\/en-blog\/venture-refixing-conversion-price-adjustment-south-korea\/\">[In depth] Refixing (Conversion Price Adjustment)<\/a><\/li>\n<\/ol>\n<\/div>\n<p><\/p>\n<h2 id=\"sec-1\">1. What is RCPS, and why is it the most used?<\/h2>\n<p>Redeemable convertible preferred stock (RCPS) is convertible preferred stock (CPS) with an added <strong>redemption right<\/strong>. That is, on top of (i) priority in dividends and liquidation and (ii) a conversion right into common stock, it carries (iii) a right to demand redemption of the investment from the company under certain conditions.<\/p>\n<p>Investors can convert to common stock to capture upside as the company grows, or exercise redemption to seek a return of principal if growth stalls. Because it manages both downside and upside, RCPS is the most widely used instrument in Korean VC investment.<\/p>\n<p><\/p>\n<h2 id=\"sec-2\">2. When is the redemption right exercised?<\/h2>\n<p>The redemption right is typically designed to be exercisable <strong>after a set period, upon the occurrence of specified events<\/strong>. The contract sets the time from which redemption may be sought, the events that trigger it (e.g., failure to IPO by an agreed deadline, a material breach), and the redemption procedure.<\/p>\n<p>An important point: having a redemption right does not guarantee return of principal at any time. Under the Korean Commercial Act, redemption is possible only within the company&#8217;s <strong>distributable profits<\/strong>, so if profits are insufficient, redemption may not actually occur even if the right exists.<\/p>\n<p><\/p>\n<h2 id=\"sec-3\">3. How are the redemption price and source set?<\/h2>\n<p>The redemption price is usually set as the <strong>investment principal plus an agreed rate of return<\/strong> (compounded). The source of redemption is limited to <strong>distributable profits<\/strong> under Article 345 of the Korean Commercial Act.<\/p>\n<table>\n<thead>\n<tr>\n<th>Item<\/th>\n<th>Typical design<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Redemption price<\/td>\n<td>Principal + agreed return (an IRR basis is common)<\/td>\n<\/tr>\n<tr>\n<td>Redemption source<\/td>\n<td>Within distributable profits (Commercial Act Article 345)<\/td>\n<\/tr>\n<tr>\n<td>If the source is insufficient<\/td>\n<td>Often addressed by carry-forward or installment redemption<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Note too that RCPS may be classified as debt rather than equity for accounting (e.g., for companies applying K-IFRS), which affects the financial statements and should be considered.<\/p>\n<p><\/p>\n<h2 id=\"sec-4\">4. What do you look at in the SPA vs. the SHA?<\/h2>\n<p>Under the 2026 split structure, the &#8220;issuance terms&#8221; for redemption, conversion, and preferred dividends sit in the Investment Agreement (SPA), while the &#8220;shareholder relationship&#8221; around exercising the redemption right, together with consent and transfer rights, sits in the Shareholders Agreement (SHA).<\/p>\n<ul>\n<li><strong>Investment Agreement (SPA)<\/strong> \u2014 share issuance terms, preferred dividend, the basic terms of conversion and redemption, reps &amp; warranties, conditions precedent.<\/li>\n<li><strong>Shareholders Agreement (SHA)<\/strong> \u2014 prior consent rights, director designation, first refusal\/co-sale, drag-along, and procedures related to exercising the redemption right.<\/li>\n<\/ul>\n<p>Because it is a split structure, it is important to cross-check that the redemption and conversion definitions and terms do not conflict between the two contracts.<\/p>\n<p><\/p>\n<h2 id=\"sec-5\">5. What should founders watch out for?<\/h2>\n<p>The key point is that RCPS leaves the company with a <strong>potential redemption burden<\/strong>. If the redemption return is set high, the burden at redemption grows even as the company succeeds; if the redemption triggers are broad, a redemption demand can arrive at an unexpected time.<\/p>\n<p>When this combines with the <strong>joint and several liability of the interested party (founder)<\/strong>, the burden can extend beyond the company to the founder personally. Confirm the redemption return, the range of redemption triggers, and the limits of joint-and-several liability before signing. Atlas Legal reviews these clauses one by one during an RCPS fundraise and helps build a negotiation strategy.<\/p>\n<div class=\"dl-wrap\" id=\"sec-dl\">\n<div class=\"dl-head\">\n<div class=\"dl-t\">Download the 2026 KVCA Standard Venture Investment Contracts<\/div>\n<div class=\"dl-s\">Source: Korea Venture Capital Association (KVCA), revised April 2026 \u00b7 Word (.docx) format \u00b7 Korean-language documents<\/div>\n<\/div>\n<div class=\"dl-primary\">\n<div class=\"dl-plabel\">Contracts covered in this article<\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Redeemable CPS (RCPS) Investment Agreement (SPA)<\/div>\n<div class=\"dl-sub\">For executing an RCPS investment<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-rcps-investment-agreement.docx\" download=\"Redeemable Convertible Preferred Stock Investment Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">RCPS Shareholders Agreement (SHA)<\/div>\n<div class=\"dl-sub\">For post-investment shareholder relations<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-rcps-shareholders-agreement.docx\" download=\"Redeemable Convertible Preferred Stock Shareholders Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<\/div>\n<div class=\"dl-list\">\n<div class=\"dl-alllabel\">All 8 standard contracts (2026 revision)<\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Convertible Preferred Stock (CPS) Investment Agreement (SPA)<\/div>\n<div class=\"dl-sub\">For executing a CPS investment<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-cps-investment-agreement.docx\" download=\"Convertible Preferred Stock Investment Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">CPS Shareholders Agreement (SHA)<\/div>\n<div class=\"dl-sub\">For post-investment shareholder relations<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-cps-shareholders-agreement.docx\" download=\"Convertible Preferred Stock Shareholders Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Common Stock Investment Agreement (SPA)<\/div>\n<div class=\"dl-sub\">For executing a common stock investment<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-common-stock-investment-agreement.docx\" download=\"Common Stock Investment Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Common Stock Shareholders Agreement (SHA)<\/div>\n<div class=\"dl-sub\">For post-investment shareholder relations<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-common-stock-shareholders-agreement.docx\" download=\"Common Stock Shareholders Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Convertible Bond (CB) Investment Agreement<\/div>\n<div class=\"dl-sub\">For a convertible bond investment<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-cb-investment-agreement.docx\" download=\"Convertible Bond Investment Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<div class=\"dl-item\">\n<div class=\"dl-ic\">DOCX<\/div>\n<div class=\"dl-meta\">\n<div class=\"dl-name\">Bond with Warrant (BW) Investment Agreement<\/div>\n<div class=\"dl-sub\">For a bond-with-warrant investment<\/div>\n<\/div>\n<p><a class=\"dl-btn\" href=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2026\/07\/atlas-bw-investment-agreement.docx\" download=\"Bond with Warrant Investment Agreement (KVCA 2026).docx\">Download<\/a><\/div>\n<\/div>\n<p class=\"dl-note\">These files are the standard contract forms distributed by the Korea Venture Capital Association (KVCA), revised April 2026. The documents are in Korean. Actual transactions require review and tailoring to the specifics of each deal; these materials are provided as reference forms and do not constitute legal advice on any particular matter.<\/p>\n<\/div>\n<p><\/p>\n<h2 id=\"sec-faq\">Frequently Asked Questions<\/h2>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q. What is the difference between RCPS and CPS?<\/p>\n<p>A. RCPS is convertible preferred stock (CPS) with an added redemption right. RCPS lets the investor demand redemption of the investment under certain conditions, giving stronger protection.<\/p>\n<\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q. Does a redemption right always guarantee return of principal?<\/p>\n<p>A. No. Under the Korean Commercial Act, redemption is possible only within the company&#8217;s distributable profits, so if profits are insufficient, redemption may not actually occur even if the right exists.<\/p>\n<\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q. How is the redemption price calculated?<\/p>\n<p>A. It is generally the investment principal plus an agreed rate of return, commonly on a compound (IRR) basis. The specific rate and method are set in the contract.<\/p>\n<\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q. Is RCPS equity or debt for accounting?<\/p>\n<p>A. Depending on the redemption terms, it may be classified as debt. In particular, for companies applying K-IFRS, it can affect the financial statements, so confirm in advance.<\/p>\n<\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q. What contracts does an RCPS investment require?<\/p>\n<p>A. Under the 2026 split structure, an RCPS Investment Agreement (SPA) and a Shareholders Agreement (SHA) are used together. You can download both forms below.<\/p>\n<\/div>\n<p class=\"closing\">To consult Atlas Legal on reviewing or negotiating an RCPS investment contract in South Korea, please contact us at +82-32-864-8300 or info@atlaw.kr.<\/p>\n<div class=\"author-box\">\n  <img decoding=\"async\" class=\"author-avatar\" src=\"https:\/\/atlaw.kr\/wp-content\/uploads\/2022\/12\/\uae40\ud0dc\uc9c4-1.png\" alt=\"Taejin Kim, Managing Partner \u2014 Atlas Legal\"><\/p>\n<div class=\"author-text\">\n<div class=\"author-section-label\">About the Author<\/div>\n<div class=\"author-name\">Taejin Kim | Managing Partner<\/div>\n<div class=\"author-detail\">Corporate Counseling, Corporate Disputes, White-Collar Crime<\/div>\n<div class=\"author-detail\">Former Public Prosecutor | Judicial Research and Training Institute, 33rd Class<\/div>\n<div class=\"author-detail\">Korea University LL.B. &amp; LL.M. (Criminal Law), University of California, Davis LL.M.<\/div>\n<div class=\"author-detail\">Atlas Legal | Incheon Songdo, South Korea<\/div>\n<p>    <a class=\"author-link\" href=\"https:\/\/atlaw.kr\" target=\"_blank\" rel=\"noopener noreferrer\">Visit Atlas Legal Homepage \u2192<\/a>\n  <\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Corporate Counseling \u00b7 Venture Investment Redeemable Convertible Preferred Stock(RCPS) Agreements in South Korea Taejin Kim \u00b7 Managing Partner, Atlas LegalBased on the Korea Venture Capital Association (KVCA) standard contracts, revised April 2026 Quick answer: Redeemable convertible preferred stock (RCPS) is convertible preferred stock plus a redemption right, letting the investor seek repayment under certain conditions&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[218],"tags":[822,823,824,38,255],"class_list":["post-1435","post","type-post","status-publish","format-standard","hentry","category-corporate-counseling","tag-rcps","tag-redeemable-convertible-preferred-stock","tag-redemption-right","tag-shareholders-agreement","tag-south-korea"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>**: Redeemable Convertible Preferred Stock (RCPS) Agreements in South Korea | Atlas Legal<\/title>\n<meta name=\"description\" content=\"**: A guide to redeemable convertible preferred stock (RCPS), the most widely used instrument in Korean venture investment. 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