Laws › Commercial Act › SECTION 5 Provision of Ships as Security

Commercial Act — Article 778 (Claims Incidental to Ships and Fares)

상법 제778조

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.

The claims incidental to a ship and freight under Article 777 shall be as follows:

1. Compensation for damage to be paid to a shipowner due to the loss of the ship or freight;

2. Rewards to be paid to a shipowner for the loss of the ship or freight due to general average;

3. Salvage charges to be paid to a shipowner due to salvage.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]

Korean original (law.go.kr) · Get articles as JSON via API

For AI agents and developers — get this article as JSON, with the English and current Korean effective dates and an outdated-translation flag, from the korea-law API or as an MCP tool: https://mcp.apify.com?tools=kr-data/korea-law