The insurer of a guarantee insurance contract shall be responsible for compensating for the loss caused by the policyholder to the insured due to failure to perform obligations under contracts or statutes.[This Article Newly Inserted by Act No. 12397, Mar. 11, 2014]
Laws › Commercial Act › SECTION 7 Guarantee Insurance
Commercial Act — Article 726-5 (Responsibility of Guarantee Insurer)
상법 제726조의5
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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