Jin & Kim, PLC | Legal Blog

Short AnswerA manufacturing agreement with a Korean company should clearly define the product, specifications, production obligations, delivery terms, inspection and acceptance procedures, quality control, payment terms, intellectual property ownership, confidentiality, liability, termination, and dispute resolution.In practice, many disputes arise not because the parties had no business relatio..

Short AnswerPotentially, yes — but not always.A Korean buyer may raise product defects as a basis to refuse payment, request repair or replacement, claim damages, reduce the price, or terminate the contract, depending on the contract terms and the seriousness of the defect.However, a buyer cannot automatically refuse payment simply by alleging that the goods are defective. In practice, the key i..

Short AnswerGenerally, yes. Indemnity clauses may be enforceable in Korean contracts if they are clearly drafted and do not violate mandatory Korean law, public policy, or principles of fairness.However, an indemnity clause is not always enforced exactly as written. Under Korean law, an indemnity provision may be interpreted either as a contractual damages allocation, which may depend on breach ..

Short AnswerGenerally, yes. Limitation of liability clauses may be enforceable in Korea, especially in business-to-business contracts where the parties negotiated the contract on relatively equal footing.However, a limitation of liability clause is not always enforced exactly as written. Korean courts and regulators may closely review the clause if it is overly broad, unclear, unfair, or conflic..

Short AnswerYes. In Korea, a buyer may claim damages for late delivery if a supplier fails to deliver goods on time and the delay constitutes a breach of contract.However, late delivery damages are not automatic. The buyer generally needs to prove:the agreed delivery deadline;the supplier’s delay or non-performance;the buyer’s actual loss;the causal connection between the delay and the loss; and..

Short AnswerIf a Korean supplier fails to deliver goods, the buyer should first:review the contract, purchase order, payment terms, and delivery documents;preserve evidence of the supplier’s non-delivery;confirm whether the buyer has performed its own obligations; andsend a clear written notice demanding performance.Depending on the circumstances, the buyer may consider demanding delivery, claim..

Short AnswerYes. A contract can generally be terminated for breach in Korea if one party fails to perform an important contractual obligation and the legal or contractual requirements for termination are satisfied.However, contract termination is not automatic simply because the other party breached the contract. Under Korean law, the party seeking to end the contract usually needs to consider w..

Short AnswerAfter a vessel is arrested in Korea, the dispute often shifts from the underlying maritime claim itself to issues involving security, release negotiations, provisional attachment, judicial enforcement, and potential vessel auction proceedings.In Korea, “ship arrest” is commonly pursued through either:provisional attachment of the vessel as an interim preservation measure, orenforceme..

Short AnswerYes.A foreign company may generally file a maritime claim in Korea, including claims involving cargo disputes, charterparty disputes, vessel-related claims, unpaid maritime debts, and other cross-border shipping matters.In practice, Korean courts regularly handle maritime disputes involving foreign shipowners, charterers, cargo interests, insurers, banks, and logistics companies.Howe..

Short AnswerA maritime lien is a special maritime claim that may attach directly to a vessel itself rather than only against the vessel owner personally.In Korea, maritime liens may become highly important in disputes involving vessel arrest, judicial auction, cargo claims, crew wages, and cross-border maritime enforcement proceedings.Because maritime liens may significantly affect claim priorit..