According to International Maritime Organization. more than 50% of cargoes transported by sea today can be regarded as dangerous or hazardous ones, mainly consisting of chemical cargoes in bulk, likely solid or liquid and other materials, such as gases and products for and of the oil refinery industry. 46% of total cargoes handled in ports of Korea in 1999. is said to be dangerous cargoes. These dangerous and hazardous cargoes are quite within a high realms of possibility of accidents, likely to be grave disaster. This paper reviews current risk management system for the dangerous and hazardous cargoes sea-transportation, mainly focusing on the prevailing regal regimes in both USA and Korea. And it aims to suggest some points for advancing the existing Korean system.