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

Commercial Act — Article 783 (Priority Order of Liens on Claims for Several Navigations)

상법 제783조

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) When liens due to claims concerning several navigations compete with each other, a claim concerning the later navigation shall prevail over a claim concerning the earlier navigation.

(2) A lien under Article 781 shall be in the same order of priority as other claim concerning the last navigation.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]

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

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