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COMPENSATION FOR AEROSPACE DAMAGE GUARANTEE ACT

[Enforcement: Feb. 29, 2008] [Act No. 8852, Feb. 29, 2008, Amendment of other act] Ministry of Education, Science and Technology (Regulatory Reform Legal Affairs Officer) Telephone: 02-2100-6162

Article 1 (Purpose) The purpose of this Act is to promote the protection of victims and sound development of aerospace development project by defining the scope of indemnification and the limitation of liability, etc., in case of aerospace damage occurrence. Article (Definition) The definitions of terms used in this Act shall be as follows:

1. The term "aerospace object" means an aerospace object prescribed by the subparagraph 3 of Article 2 of the Aerospace Development Promotion Act;

2. The term "launcher of the aerospace object" means a person who has pre-registered or registered the aerospace object as prescribed by Article 8, or has obtained permission for launch of the space launch vehicle as prescribed by Article 11 of the same Act;

3. The term "launch of the aerospace object" means a launch of the aerospace object by a person who has obtained permission as prescribed by the paragraph 1 of Article 11 and shall include preparation and test launch and unsuccessful launch; and

4. The term "aerospace damage" means human damages such as death, injury and health damage caused by launch and/or operation, etc. of the aerospace object, and material damages such as destruction, damage and loss of property. Article 3 (Relation, etc. with International Convention) In case where the Government has redressed the damages for foreign governments pursuant to the Convention on International Liability for Damage Caused by Space Objects , the Government may claim for compensation from the launcher of the aerospace object. In the case that any individual, juristic person, organization, and/or government of a country other than the Republic of Korea prohibits or restricts a national of the Republic of Korea, juristic person or organization established by the laws of the Republic of Korea, or the Government of the Republic of Korea from being compensated for damages, the effect of this Act may be excluded or restricted to the said individual, juristic person, organization, and/or governments of a country other than the Republic of Korea. Article 4 (Absolute Liability and Channelling liability, etc.) When the aerospace damages occur, the launcher of the aerospace object which caused the said aerospace damages shall assume the liability for the redress of the said aerospace damages; Provided, That in the case of aerospace damages which have been incurred by an armed conflict or hostile action between countries, civil war or revolt, or which have occurred in an outer space, the liability shall be limited to damages committed with intent or negligence. The launcher of the aerospace object who has redressed aerospace damages caused by intent or negligence of a third party as prescribed by the paragraph 1 may claim for compensation from the said third party; Provided, That in the case that such aerospace damages have been caused by supply of materials or works (including labors; hereinafter the same shall apply) for the launch of the aerospace object, he may claim for compensation only when the said aerospace damages have been caused by intent or gross negligence of the person who supplied the materials or works, or employees of said person. The Product Liability Act shall not apply to the aerospace damages. Article 5 (Limitation of the Aggregate Amount of Liability) The aggregate amount of liability which shall be paid by the launcher of the aerospace object shall not exceed 200 billion won. Article 6 (Insuring of Liability Insurance for Indemnification) A person who intends to obtain permission for launch of the space launch vehicle as prescribed by Article 11 of the Aerospace Development Promotion Act shall effect a liability insurance for indemnification. The Minister of Ministry of Education, Science and Technology shall determine and notify the amount of liability insurance thereof not exceeding the amount pursuant to Article 5 which shall be insured as prescribed by the paragraph 1 with consideration of characteristics of the aerospace object, difficulties of technology, environment of a launching site, and domestic and foreign insurance markets, etc. Article 7 (Measures of the Government) In case where the aerospace damages may occur, the Government shall take necessary measures to rescue victims and preclude such aerospace damages being increased.

Where theliability amount which shall be paid by the launcher of the aerospace object as prescribed in paragraph 1 of Article 4 exceeds the insurance amount prescribed in the paragraph 2 of Article 6, the Government may, if it is deemed necessary for achieving the purpose of this Act, provide any support necessary for said launcher of the aerospace object.

Where the Government provides necessary support prescribed in the paragraph 2, the amount of the said support shall be within the limit of the amount approved by a resolution of the National Assembly.

Article 8 (Period during Which Right is to be Exercised) Claims for compensation for damages prescribed by this Act shall be extinguished by prescription, if the victims or the legal representatives of the victims do not exercise them within one year of the date of identification of a person liable for the said damages according to the paragraph 1 of Article 4. Claims for compensation for damages prescribed by this Act shall not be exercised when three years elapsed from the date of occurrence of the aerospace damages. ADDENDA (Government Organization Act) Article 1 (Enforcement Date) This Act shall enter into force on the date of its promulgation; Provided, That ······ the parts of the Acts amended as prescribed by Article 6 of the ADDENDA which have been publicly notified but have not yet arrived at the enforcement date shall, respectively, enter into force on each enforcement date prescribed in such amended Acts.

From Article 2 to Article 5 Omitted

Article 6 (Amendment of Other Acts) From To <137> Omitted. <138> Part of the Compensation For Aerospace Damage Guarantee Act shall be revised as follows:

The term "the Minister of Science Technology" referred to in the 2nd paragraph of Article 6 shall be the term "the Minister of Education, Science and Technology." From <139> to <760> Omitted.

Article 7 Omitted.