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Laws › Commercial Act › SECTION 4 Limits on Liability of Shipowners, etc.

Commercial Act — Article 774 (Scope of Persons Able to Limit Liability)

상법 제774조

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) Any of the following persons may limit liability equal to the cases of a shipowner specified in the provisions of this Section:

1. A charterer, administrator of a ship, and operator of a ship;

2. A shipowner who is a corporation and a general partner of a person prescribed in subparagraph 1;

3. A shipmaster, crewman, pilot and other shipowner, or an employee or agent of a person prescribed in subparagraph 1, who has made, due to his/her own act, a claim under any of the subparagraphs of Article 769 in effect on a shipowner or a person prescribed in subparagraph 1.

(2) The total amount of limits on liability of a shipowner and persons prescribed in paragraph (1) for all the claims which have arisen out of the same accident shall not exceed the limit on liability for each ship specified in Article 770.

(3) If a shipowner or one of the persons prescribed in the subparagraphs of paragraph (1) has been determined to commence the procedures for limitation on liability, other persons who are able to limit their liability may invoke this.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]

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