Gwangju Traditional Market Fire Insurance Subscription Rate Increased

34.3% Enrollment Rate at the End of Last Year... Campaign Proves Effective
Support for Insurance Premiums Up to 120,000 KRW

Gwangju Mayor Kang Gijeong visited Daein Market in Dong-gu on February 6 last year, encouraging merchants and conducting a campaign to enroll in the traditional market fire insurance program. Provided by Gwangju City

The campaign to encourage traditional market fire insurance enrollment in Gwangju has proven to be highly effective.

According to the city on the 13th, as of the end of last year, the number of traditional market stores enrolled in fire insurance within the region reached 916, with an enrollment rate of 34.3%. This marks a significant increase compared to 793 stores and a 27.5% enrollment rate at the end of December 2023, prior to the campaign. This figure is also notably higher than Seoul's 24.3%, Busan's 29.8%, Daegu's 29.4%, and Sejong's 22.8%.

When including stores with private fire insurance, the fire insurance enrollment rate for traditional markets in Gwangju rises to 74.8%.

The city interpreted this increase as a reflection of a significant shift in merchants' awareness regarding the importance of fire safety following last year's campaign.

Public officials, including Mayor Kang Gijung, visited 24 traditional markets ahead of last year's Lunar New Year holiday to promote the fire insurance enrollment campaign. They encouraged merchants to enroll by explaining the support conditions available for those who sign up during the busy holiday season.

This year, the city will continue its campaign to prevent fires in traditional markets, which are vulnerable to large-scale fires. The plan is to raise safety awareness and increase fire insurance enrollment rates by providing education and campaigns to merchants on the importance of fire prevention and the necessity of insurance enrollment.

Additionally, with the increase in the use of electric appliances and the surge in visitors during the winter holiday season, the local government and merchant associations will jointly conduct safety inspections and work together to manage fire safety facilities and prevent fires.

Since 2023, the city has also been providing support for traditional market fire insurance premiums, covering 60% of the premium (30% from the city, 30% from the district), up to a maximum of 120,000 KRW per store.

Joo Jaehee, Director of the Economic and Startup Bureau, stated, "Traditional markets play a crucial role in the local economy, so protecting the livelihoods and safety of merchants is essential. We will continue to strengthen the practical safety net against fire damage through various policies and support measures."