ADJUSTING THE PRICE OF PUBLIC PROCUREMENT CONTRACTS IN SOUTH KOREA DUE TO PRICE FLUCTUATIONS

The article examines the problem of adjusting the price of government contracts in South Korea in connection with price fluctuations, analyzes the relevant decisions of the Supreme Court of the Republic of Korea and the legal literature. The author concludes that the decision adopted by the majority of judges of the Supreme Court is less satisfactory to the nature of the legal relationship in question than the position of the two judges set out in the dissenting opinion. According to the author, customers are obliged (and not «entitled») to adjust the price of a government contract in cases provided for by law.