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Commercial Act — Article 689 (Insurable Value of Transportation Insurance)

상법 제689조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) With respect to the insurance of transported goods, the insurable value shall be the market price at the place and time of the dispatch plus freight charges to the destination, and other expenses incurred.

(2) Interest to be expected through the arrival of transported goods may be included in the insurable value, only if there is an agreement to that effect.

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