Liability Archives | Be Korea-savvy

Electric Car Fire in South Korea Raises Questions About Liability for Damages

INCHEON, Aug. 13 (Korea Bizwire) – A recent electric vehicle fire in the underground parking garage of an apartment complex in Incheon, South Korea, has ignited a debate over who will be responsible for the substantial repair costs. The incident, which occurred on August 1 in the Cheongna International City area of Incheon, resulted in 23 [...]

S. Korea Rises in per Capita Asset Ranking, but with Caveat on Liabilities

SEOUL, Sept. 26 (Korea Bizwire) – South Koreans held an average of 27,371 euros (US$30,703) in financial assets, excluding liabilities, in 2015, placing the country 21st among 53 surveyed in the Allianz Global Wealth Report released on Monday that also noted their spiking debt. The sum in financial assets marks an increase of approximately 3,000 [...]