[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance announced on the 20th that it donated 200 million won collected through an employee fundraising campaign to support victims of the heavy rain to the Hope Bridge Korea Disaster Relief Association.
Kyobo Life Insurance held a fundraising campaign for a week starting from the 12th, with participation from Chairman Shin Chang-jae and employees, to help recover from damages caused by the longest rainy season in history.
The funds will be used to provide relief supplies for disaster victims in special disaster areas and for reconstruction projects in the affected regions.
A Kyobo Life Insurance official said, "We hope that the small kindness of our employees will reach those suffering from the heavy rain damage, helping the victims overcome their pain and regain hope in life."
Meanwhile, Kyobo Life Insurance will support customers affected by the heavy rain by offering premium payment deferrals and loan principal and interest repayment deferrals. Premium payments will be deferred for six months for customers affected by the heavy rain, and the repayment deadlines for loan principal and interest on insurance policy loans will be extended by six months with a reduction in monthly compound interest. For general loans, principal and interest payments will be deferred for six months.
Additionally, if customers affected by the heavy rain file insurance claims, the company plans to simplify the insurance claim reception and payment process to promptly disburse insurance benefits.
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