The Ministry of Oceans and Fisheries announced on the 24th that it will provide disaster relief funds and loans to fishing households affected by last year's high water temperatures and hypoxic water masses (oxygen-deficient water bodies).
The total amount of disaster relief funds to be provided this time is 20.3 billion KRW. Previously, the Ministry of Oceans and Fisheries had also provided 21.7 billion KRW in disaster relief funds to fishing households affected by high water temperatures in September and November.
Additionally, 3.5 billion KRW in disaster relief funds will be provided to aquaculture households affected by hypoxic water masses recently occurring in Jinhae Bay.
The Ministry will defer the repayment deadlines and reduce interest on existing fisheries policy fund loans according to the extent of damage. Emergency management stabilization funds, which are being provided to stabilize livelihoods, will also continue to be supported. Fishermen wishing to apply can do so through fisheries cooperatives or the Suhyup Bank.
Insurance payments continue to be made to households enrolled in aquaculture seafood disaster insurance. As of the end of December last year, 21.3 billion KRW was paid for compensation related to high water temperature damage, and 130 million KRW for hypoxic water mass damage.
Kang Do-hyung, Minister of Oceans and Fisheries, stated, "We will closely cooperate with local governments and related agencies to ensure rapid recovery support for disaster-affected fishing households."
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