In the determination of an amount of general average, the value of a ship shall be its value as at the time and place of arrival, and the value of cargo shall be its value as at the time and place of unloading: Provided, That in regard to the cargo, all the expenses exempted from payment due to such damage shall be deducted.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]
Laws › Commercial Act › SECTION 1 General Average
Commercial Act — Article 869 (Calculation of Damages of General Average)
상법 제869조
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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