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Pure economic loss : A Korean perspective

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  • Pure economic loss
  • Kwon, Youngjoon
  • Seoul National University(BK 21 Law)


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Title Pure economic loss
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Sub Title

A Korean perspective

Material Type Articles
Author(English)

Kwon, Youngjoon

Publisher

[Seoul]:Seoul National University(BK 21 Law)

Date 2011
Journal Title; Vol./Issue Journal of Korean Law:vol. 10(no. 2)
Pages 26
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Laws and Legislation
Holding Seoul National University

Abstract

In general, pure economic loss is understood as economic loss without antecedent harm to plaintiff’ person or property. Traditionally, pure economic loss was only a topic of interest in the limited number of countries such as Germany, England or the United States. Recently, pure economic loss began to be discussed intensively in the context of the harmonization of tort law, particularly in Europe. Finding out some common principles and rules regarding pure economic loss has been the most essential goal of this discussion. It may be difficult to come up with a single, clear-cut solution on this complicated issue. However, it is important to note that almost all the jurisdictions are concerned about the possible indefinite expansion of liability and chilling effect on the economic activity in a substantially similar manner. (The rest omitted)