Support for Pohang Earthquake Damage Relief Starting in September

Resolution of the Amendment to the Enforcement Decree of the Pohang Earthquake Damage Relief Act at the Cabinet Meeting on the 25th
Negotiation for 100% Support of Damage Amount Shared by National and Local Governments
Reviewing Support Projects for Pohang Economic Revitalization and Community Recovery

[Asia Economy Reporter Moon Chaeseok] The government announced that starting next month, it will cover 100% of the damages caused by the Pohang earthquake.

The Ministry of Trade, Industry and Energy stated that the partial amendment ordinance (draft) of the "Special Act on the Investigation and Relief of Damages from the Pohang Earthquake" was approved at the Cabinet meeting on the 25th and will be enforced from next month.

This amendment to the enforcement ordinance aims to establish delegated matters from the law, such as the scope of relief support, criteria for determining support amounts, and payment procedures, as well as necessary details for its implementation.

The support targets are those who suffered human damages such as death or injury and those who suffered property damages due to the Pohang earthquake.

Regarding the support items and determination criteria, those who suffered human damages will receive a total amount covering medical expenses, funeral costs, convalescence living expenses, and death/disability support funds.

The amount for property damages is calculated by summing damages to goods, fixed costs during business suspension, and temporary housing expenses. Within the support limits for each damage type, 80% of the damage amount will be supported by national funds.

To apply for victim recognition and support payment, applicants must submit the application form along with proof documents of the damage facts and amounts to the Damage Relief Deliberation Committee.

To decide on victim recognition, investigations such as site visits, interviews with applicants, and document verification will be conducted.

After drafting the decision document, a notification of the decision will be sent to the applicant. The support payment will be made within one month of delivery.

Special support measures for revitalizing Pohang's economy and restoring the community will also be prepared.

The government and local governments announced that they have agreed to pay 100% of the damage amount to earthquake victims. Of the damage amount, 80% will be supported by national funds, and 20% will be supported by local funds from Gyeongsangbuk-do Province and Pohang City.

The Ministry of Trade, Industry and Energy plans to promptly push forward amendments to the Pohang Earthquake Damage Relief Act to protect the rights of earthquake victims in consultation with the National Assembly.

They will discuss introducing provisions such as the basis for local government burden of relief support funds, provisions for re-examination of victim recognition and support decisions by the Damage Relief Deliberation Committee, and extension of the statute of limitations for claims for damages.

Meanwhile, the Ministry reported that it is reviewing the possibility of promoting the Pohang economic revitalization and community recovery support project under Article 18 of the Special Act from next year, to help Pohang City recover its local economy, which has been stagnated due to earthquake damages.

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