No insurer shall be subrogated to and exercise the rights of a policyholder and of the beneficiary against a third party arising from perils insured against: Provided, That in cases of an accident insurance contract, if the parties have agreed otherwise, the insurer may be subrogated to and exercise the rights of the insured to the extent that it is unprejudicial to such right. <Amended by Act No. 4470, Dec. 31, 1991>
Laws › Commercial Act › SECTION 1 Common Provisions
Commercial Act — Article 729 (Prohibition of Subrogation by Insurer against Third Parties)
상법 제729조
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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