NH Nonghyup Card Launches Policy Insurance Premium Payment Service for Fishermen via Card

Collaboration with the National Federation of Fisheries Cooperatives to Establish a Payment System for Fishermen and Vessel Disaster Compensation Insurance Premiums

[Asia Economy Reporter Ki Ha-young] NH Nonghyup Card announced on the 1st that it will implement a 'Fishing Crew and Fishing Vessel Disaster Compensation Insurance Premium' card payment service in cooperation with the National Federation of Fisheries Cooperatives to support premium payments for residents in fishing villages. This is part of practicing ESG (Environmental, Social, and Governance) management.

The Fishing Crew and Fishing Vessel Disaster Compensation Insurance is a policy insurance operated by the National Federation of Fisheries Cooperatives under delegation from the Ministry of Oceans and Fisheries, providing coverage for various disaster damages related to fishing activities.

Until now, premiums could only be paid in cash or through automatic transfers for customers holding accounts with the Fisheries Cooperative, but with the revision of the Enforcement Decree of the Fishing Crew Disaster Insurance Act last year, payment by card became possible. Accordingly, Nonghyup Card launched this service as the second provider following the Fisheries BC Card. Based on the Enforcement Decree of the Fishing Crew Disaster Insurance Act, the policy insurance payment agency fee (0.8% for credit cards, 0.5% for check cards) is borne by the payer.

A Nonghyup Card official stated, "As this is a safety net to protect fishermen, we will contribute to the local community by providing a service that allows policy insurance premiums to be paid more conveniently."

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