South Korea Classifies Middle East Conflict as Force Majeure; Legal Experts Urge Application to Russia-Ukraine War and Existing PF Contracts

According to South Korea's legal community, the Ministry of Land, Infrastructure and Transport and Financial Services Commission classified the Middle East conflict as a force majeure event in April, affecting raw material supply chains. Legal experts argue the same rationale should extend to the Russia-Ukraine war and existing project financing (PF) contracts, noting that construction companies currently bear concentrated final risk under current contract structures.
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