The Metropolitan Transportation Commission under the Ministry of Land, Infrastructure and Transport announced on the 21st that it will collaborate with the insurance industry to develop special insurance products that offer discounted automobile insurance premiums for K-Pass users.
The signing ceremony, scheduled for the 22nd, will be attended by Kim Yongseok, Chairperson of the Metropolitan Transportation Commission; Jeong Yongsik, President of the Korea Transportation Safety Authority; Lee Byeongrae, President of the General Insurance Association of Korea; and the heads of four major non-life insurance companies: Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, DB Insurance, and KB Insurance.
K-Pass is a public transportation expense refund support program. Users who take public transportation more than 15 times a month receive a partial refund. This agreement will provide insurance premium discounts to K-Pass users who regularly use public transportation for extended periods. In addition to the four participating insurance companies, other insurers will also be encouraged to develop similar discounted insurance products.
As the transportation expense refund service "K-Pass" has launched, citizens are using the subway at Seoul Station on the 2nd. K-Pass is a service that refunds a certain percentage of the expenditure (20% for the general public, 30% for youth, and 53% for low-income groups) the following month when using city buses, village buses, subways, metropolitan buses, and GTX more than 15 times a month. Photo by Kang Jinhyung aymsdream@
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