SHIP ACTWholly Amended by Act No. 3641, Dec. 31, 1982Article 1 (Purpose) The purpose of this Act is to ensure proper operation of systems for maritime affairs and maintenance of maritime order, and thereby to protect the national interests and contribute to enhancement of the national economy by stipulating matters concerning nationality of ships, matters necessary for enforcement of the 1969 International Convention on Tonnage Measurement of Ships and other matters necessary for the measurement of tonnage of ships. Article 2 (Korean Ships) The ships falling under each of the following subparagraphs shall be the ships of the Republic of Korea (hereinafter referred to as "Korean ships"): State-owned or public-owned ships; State-owned by citizen of the Republic of Korea; State-owned by commercial companies incorporated under the Acts of the Republic of Korea, with the majority of investments thereto and more than three-fifths of the voting rights at the board of directors belon...