Gyeongju City Promotes Kiwifruit and Soybean Crop Disaster Insurance... "Only 15% Co-payment for Farmers"

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongju City, Gyeongsangbuk-do announced on the 8th that it will sell crop disaster insurance products for 'chamdarai' (kiwifruit) and 'kong' (soybeans) to promote the management stability and income stability of farmers from natural disasters.

Farmers wishing to subscribe can visit and apply at a nearby regional agricultural cooperative by July 3rd for chamdarai and by the 17th of the same month for kong. Crop disaster insurance covers damages caused by natural disasters, birds and animals, and fire. The insurance premium is subsidized by 50% from the Ministry of Agriculture, Food and Rural Affairs, 8.8% from Gyeongsangbuk-do, and 26.2% from Gyeongju City. Farmers only need to bear 15% of the cost.

Mayor Joo Nak-young of Gyeongju said, "As abnormal weather has become frequent recently, this year’s heatwave arrived early, and there are concerns about crop damage caused by natural disasters during the peak summer season," adding, "With the increasing frequency of natural disasters, subscribing to crop disaster insurance is no longer optional but essential," urging farmers to enroll.

Meanwhile, last year in Gyeongju City, 799 farms subscribed to 881 cases of crop disaster insurance, and insurance payouts amounted to 4.196 billion KRW.

This content was produced with the assistance of AI translation services.