Insurance Industry Donates 100 Million Won for Flood Recovery in Geoje and Tongyeong

Funds to Be Used for Restoration Efforts and Stabilizing the Lives of Affected Residents

The Life Insurance Social Contribution Committee and the General Insurance Social Contribution Council announced on the 24th that they plan to donate 100 million won in emergency relief funds to support the rapid recovery of daily life for residents of Geoje and Tongyeong in South Gyeongsang Province, who recently suffered significant damage due to torrential rains, as well as to assist with disaster recovery efforts.

Yonhap News

This donation will be delivered through the Korean Red Cross and will be used for the restoration of infrastructure in the affected areas, the provision of relief supplies to disaster victims, and livelihood support for vulnerable groups, helping to stabilize the lives of those impacted by the floods and to facilitate a return to normalcy.

The Life Insurance Social Contribution Committee and the General Insurance Social Contribution Council have consistently pursued community support activities to aid disaster recovery and support disaster victims whenever incidents such as wildfires and torrential rains occur. They plan to continue providing practical assistance to neighbors in need moving forward.

Cheolju Kim, Chairman of the Life Insurance Social Contribution Committee, stated, "We hope that this assistance will be of some help to the affected residents in restoring their daily lives. The insurance industry will continue to take an active role and maintain ongoing interest in the situation in the affected areas."

Byoungrae Lee, Chairman of the General Insurance Social Contribution Council, also commented, "We offer our deepest sympathies to everyone who has suffered loss, such as unexpectedly losing their homes due to sudden heavy rains, and we hope for a swift and safe return to everyday life."

This content was produced with the assistance of AI translation services.