KAMCO "Employees Donate 100 Million Won to Support East Coast Wildfire Recovery"

Various Financial Supports Also Provided

Kwon Nam-joo, President of Kamco (right), is delivering donations for wildfire damage in Gyeongbuk and Gangwon and taking a commemorative photo with Shin Hee-young, President of the Korean Red Cross, at the Korean Red Cross headquarters in Jung-gu, Seoul on the 18th. (Photo by Kamco)

[Asia Economy Reporter Minwoo Lee] Employees of Korea Asset Management Corporation (KAMCO) have raised 100 million won to help restore areas affected by wildfires on the East Coast.

KAMCO announced on the 21st that on the 18th, it delivered 100 million won in donations at the headquarters of the Korean Red Cross in Jung-gu, Seoul, to aid recovery efforts in the Gangwon and Gyeongbuk regions, which were recently designated as special disaster zones due to large-scale wildfires. This donation will be used through the Korean Red Cross for relief activities and support for recovery in the wildfire-affected areas.

Additionally, KAMCO plans to implement financial support measures for stakeholders related to its business within the special disaster zones, such as applicants for credit recovery and tax delinquents.

First, residents confirmed to have suffered property damage from the wildfires will be eligible for special debt reductions and repayment deferrals when applying for debt adjustment. For tax delinquents applying for tax payment deferrals, seizure property auctions will be suspended for up to one year, and payment demands will also be halted.

Furthermore, KAMCO intends to make additional efforts to support damage relief, including reviewing measures such as fee reductions for customers using national property within the special disaster zones.

Kwon Nam-ju, President of KAMCO, stated, "We hope this will provide some help for local residents affected by the recent large-scale wildfires to return to their daily lives. As a public institution, we will devote all our efforts to supporting the recovery of residents in the special disaster zones in connection with our core business."