The Korea Life Insurance Association and the General Insurance Association of Korea announced on September 3 that they will provide a total of 100 million won in emergency relief funds to the Gangneung area, which has recently suffered severe damage due to an extreme drought.
The emergency relief funds will be delivered to the Korean Red Cross and used to donate bottled water to residents in the Gangneung area who are experiencing difficulties using domestic water due to water supply restrictions. Gangneung was declared a disaster area on August 30.
Kim Cheolju, Chairman of the Korea Life Insurance Association, said, "We hope this support will provide some relief to the residents of Gangneung, who are experiencing an unprecedented water shortage due to severe drought and heat waves. The insurance industry will continue to work hard to support the livelihoods of our people and alleviate the inconveniences of daily life during disasters."
Lee Byungrae, Chairman of the General Insurance Association of Korea, stated, "We hope this support will be a much-needed lifeline for those suffering great inconvenience in their daily lives due to this unprecedented drought. The insurance industry will continue to fulfill its social responsibility by sharing hardships with the public during sudden disasters."
Grass is growing thickly in Obong Reservoir, the water source supplying 87% of the domestic water in the Gangneung area. Photo by Yonhap News
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
