Where insured cargo has arrived at the port of unloading in a damaged condition, an insurer shall be bound to compensate for the damaged part of the insurable value in proportion to the insurable value in a damaged condition as compared with one in a sound condition.
Laws › Commercial Act › SECTION 4 Marine Insurance
Commercial Act — Article 708 (Compensation for Partial Damage to Cargo)
상법 제708조
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.
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