The Korea International
Trade Association (Chairman: Christopher Koo) and the Korea Commercial
Arbitration Board co-hosted ‘Online Information Session on
Useful Legal Knowledge for Shipping
& Logistics’ on July 23rd.
This information session was
organized to improve Korean companies’ capacity to legally respond to disputes caused
by shipping contract cancellations, cargo space shortages, and incidental
charges that are expected to increase in number as the shipping crisis is being
exacerbated due to the recent surge in shipping cost.
Moon Gwang-myung, a lawyer
at Law Firm Sunyul, advised, “Trade and distribution companies must
meticulously review contract conditions such as various extra charges, loss of
time, contract cancellations, and exemptions considering possible delays in
shipping caused by pandemic measures and port & logistics congestions.”