BUSINESS MERGERS AND ACQUISITIONS ACT Article 16

Any surviving company, newly incorporated company or transferee company shall, no later than thirty days before the reference date of the merger/consolidation and acquisition, serve a written notice expressly describing labor conditions to any labor staying after the merger/consolidation and acquisition according to the negotiation between the existing and the new employers. Any labor within ten days upon receiving the notice shall notify her decision of whether to accept the conditions in writing to the new employer. The absence of such notice from the labor shall be deemed as consent to stay with the new company after the merger/consolidation and acquisition.The period of service the labor accepting the continued employment has covered at the dissolved company, transferor company or divided company before the merger/consolidation and acquisition shall be recognized by the surviving company, newly incorporated company or the transferee company after the merger/consolidation and acquisition.