Baemin Donates 300 Million KRW for Disaster Relief... Chairman Kim Bong-jin and Spouse Also Contribute 100 Million KRW

[Asia Economy Reporter Kim Bo-kyung] Woowa Brothers, the operator of Baedal Minjok, announced on the 15th that it donated 300 million KRW in flood relief funds to the Hope Bridge Korea Disaster Relief Association. Separately, Woowa DH Asia Chairman Kim Bong-jin and his wife Seol Bo-mi also contributed 100 million KRW in flood relief funds.

Hope Bridge plans to use the donations for recovery from damages caused by the recent heavy rains, provision of relief supplies, and housing support.

Kim Beom-jun, CEO of Woowa Brothers, said, "We donated the funds hoping that residents in the affected areas, devastated by the record-breaking heavy rains, can return to their daily lives as soon as possible," adding, "Woowa Brothers will take the lead in helping disaster-vulnerable groups and neighbors affected by disasters."

Woowa Brothers and Chairman Kim’s couple have been conducting donation activities together with the Hope Bridge Korea Disaster Relief Association.

Since forming a relationship by donating 2 billion KRW in 2020 to support medical staff during the COVID-19 crisis, they have opened donation boxes on the Baemin application to support recovery from heavy rain damage. Last year, they jointly provided 10,000 laptops to vulnerable youth, and this year, they launched a support campaign to help recover from large-scale wildfires in the Gangwon and Gyeongbuk regions.

Meanwhile, cases of small business owners receiving compensation through flood and windstorm insurance after damage from the heavy rains are increasing. Flood and windstorm insurance is a policy insurance that provides compensation when damage occurs due to natural disasters. It is operated by having the government and local governments cover most of the insurance premiums, with the remainder paid by the insured.

In addition to government support, Woowa Brothers has been supporting insurance premiums for small business owners’ flood and windstorm insurance since March, following the proposal by Choi Seung-jae, a member of the People Power Party, to expand the support target through private sector assistance. Woowa Brothers plans to expand the support target nationwide from next month, moving beyond local government-level support.