Social-Lost Article Act

[김지원]

LOST ARTICLES ACT (영문기사).docx

[SOCIAL]

LOST ARTICLES ACT

by, Kim Ji-won, Social Editor, jiwonkim96@mju.ac.kr

At one time or another, everyone may have found something embarrassing on the street. If you find something embarrassing such as a credit card, a large amount of cash, or a cell phone, you might be thoroughly confused how to keep it safe. You will have all kinds of thoughts such as a thought of indifference, a thought of being blinded by possessiveness, or a thought of justice. This article provides information about how to deal with a lost article without panic.

First of all, it is important to be well-acquainted with “Lost Articles Act.” The Lost Articles Act stipulates the obligation and compensation of the finder to return the lost article to the owner as soon as possible. According to the Lost Articles Act, a person who has found an article lost by another person shall promptly return it to the person who lost it or the owner thereof, or a person who has the right to claim the return of the article, or submit it to a police station. But a person who finds another person’s article in a ship, automobile or building, the manager of which exists, or other premises off-limits to the general people shall hand over such article to the manager. In case, an occupant of a ship, automobile, building shall be deemed the finder.

A finder may waive all of his/her rights to an article found by reporting in advance and may not assume his/her duty. If a finder has all of his/her rights to a lost article, that only when there exists no person to whom an article is returned for 6 months, the finder shall acquire ownership therein. Where no person claims the collection of an article retained by a police station, the ownership therein shall vest in the National Treasury. A person to whom an article is returned shall pay a finder compensation within the extent of not less than 5 percent but not more than 20 percent of the value of the article. An occupant of a ship, automobile, building and a person who actually finds an article shall split compensation half and half.

As stated in the Lost Articles Act, a finder should return the article to the owner immediately or take it to the police station. If a finder does not give the article back to the owner, he/she could be punished for “embezzlement of a lost property.” To summarize a code of conduct for a finder, first, make sure that there is no owner of the article. And take a picture of what you have picked up. Secondly, you should visit the nearest police station directly to report the loss. Finally, you will be issued a custody certificate. Then, complete the reporting procedure! In addition, if you acquire a cell phone, it is best to take it to the post office. After filling out simple documents at the post office, you can get gift voucher worth 10,000 won for the latest models and 5,000 won for the old ones.

After reading this article, you will no longer be embarrassed when you have found the lost article.