The Compulsory Enforcement Act Article 114-1

After attaching a vessel, the enforcement court shall take over the document evidencing the nationality of the vessel, cause it to moor at a designated place, and notify the competent authority for navigation administration, provided that the enforcement court may, upon the party's or the interested party's petition, permit its navigation with the creditor's consent.The debtor or the interested party may petition for revoking the attachment of the vessel by furnishing a security in cash or equivalent property in the amount of the claims involved and the enforcement costs or the value of the vessel.The security in the preceding paragraph may be replaced by the guarantee letter issued by an insurer or bank operating guarantee businesses. The guarantee letter shall state that, in case the debtor fails to perform the obligation, the guarantor is responsible for repaying the debt or together compensating a certain amount of money.Where the enforcement court revokes the attachment of the vessel pursuant to the preceding two paragraphs, it may continue enforcing the security. If the guarantor fails to perform its obligation, the enforcement court may, upon the creditor's petition, directly carry out a compulsory enforcement against the guarantor. Where the security in paragraphs 2 and 3 is furnished for the amount of the claims involved and the enforcement costs, other creditors may not petition to participate in the distribution of that security after the security has been furnished. The proviso of paragraph 1 shall not affect the preference of payment pursuant to Maritime Act Article 24 paragraph 1 Subparagraph 1.