FSC, FSS and the insurance industry to provide assistance to Gangwon and Gyeong-buk regions

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The FSC, FSS, General Insurance Association of Korea(GIAK), and Korea Life Insurance Association(KLIA) will provide emergency assistance to insurance holders of Gangwon province Yeongdong region and North Gyeong-buk region which are hit by unprecedentedly heavy snowfall.

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1. Insurance companies will pay out 50% of the estimated total insurance money in advance.

2. Insurance holders suffering from serious damage due to the snow will be allowed to delay monthly insurance payment and loan principal repayment for 6 to 12 months. No overdue interest will be charged during the period.

3. Financial firms will swiftly provide loans for damage recovery purposes without any delay.

4. Both the GIAK and KLIA will establish and operate emergency customer service teams to provide assistance and conduct damage investigation.

5. Emergency rescue service will be provided preferentially to the drivers whose car has suddenly stopped on the road due to the heavy snowfall.

6. Relief goods such as drinking water, instant noodles, instant rice, and kimchi will be delivered to isolated regions.

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