South Korea

Vehicles

Accidents, insurance basics, traffic tickets, lemon laws

25 questions

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Compensation Claims

(6)
I was hit by an uninsured vehicle. What compensation?
In South Korea, if you're hit by an uninsured vehicle, you may claim compensation from the Automobile Accident Compensation Security Fund (AACSF) up to â‚©120 million for injury and â‚©300 million for death, subject to statutory limits and application deadlines.
How is traffic accident settlement calculated?
Traffic accident settlements in South Korea are calculated based on actual damages (medical costs, lost wages, pain and suffering), with compensation guided by the 'Standards for Calculating Compensation for Traffic Accidents' issued by the Korean Supreme Court.
The insurance company refuses to pay.
If your insurance company refuses to pay a valid claim in South Korea, you may file a complaint with the Financial Services Commission (FSC) or sue in court within 3 years of knowing the breach.
How does a traffic accident victim file a damage claim?
A traffic accident victim in South Korea files a damage claim by submitting a written request to the at-fault driver’s insurance company, or by filing a civil lawsuit within 3 years of the accident.
Can I claim additional treatment costs after settling a?
No, you generally cannot claim additional treatment costs after signing a full settlement agreement unless the agreement explicitly reserves that right or the new costs arise from unforeseen complications directly linked to the accident and were not reasonably foreseeable at settlement.
What compensation applies for an accident while in a taxi?
In South Korea, taxi passengers injured in accidents may claim compensation under the Automobile Management Act and the Civil Act, with liability typically falling on the taxi operator or driver. Victims can seek damages for medical costs, lost income, and pain and suffering.