The provisions of Article 778 shall not apply to the insurance money to be paid to a shipowner as per insurance contract, and other subsidies or grants.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]
Laws › Commercial Act › SECTION 5 Provision of Ships as Security
Commercial Act — Article 780 (Exclusion of Insurance Money, etc.)
상법 제780조
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.