Gyeongju City to Support 90% of 'Rice Crop' Disaster Insurance from June... Compensation Exceeded 4 Billion Won Last Year

The photo shows the first rice planting of the year at the farm of Sangmok Lee in Oechil-ri, Sannae-myeon, Gyeongju City on the 16th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongju City announced on the 27th that it will carry out a support project for subscribing to 'Rice Crop Disaster Insurance' until June 25.

Rice crop disaster insurance is a product that compensates for damages caused by natural disasters such as typhoons, hail, and heavy rain, as well as damage from frost and flood (damage caused by birds or animals), and fire. It also covers damages from white leaf blight, rice planthoppers, rice blast, striped leaf blight, rice kernel smut, brown stink bugs, and bacterial grain rot.

The subscription period for chestnuts, jujubes, and citrus is until May 14, for chili peppers until May 21, and for sweet potatoes and corn (including forage corn) until June 11.

Last year, 1,459 farms in the Gyeongju area subscribed to crop insurance for about 5,476㎡ of farmland, and 791 farms received compensation of approximately 4.087 billion KRW due to repeated disasters. On average, each affected farm received about 5.167 million KRW in compensation.

Last year’s subscription performance by item in the Gyeongju area showed that rice farms accounted for 963 farms, making up 66% of all subscribing farms, followed by apple farms with 126 farms (8.6%) and pear farms with 101 farms (6.9%).

Since 2019, Gyeongju City has expanded the annual insurance premium support rate to 85% so that local farms can receive more benefits from crop disaster insurance, reducing the self-payment to 15%. Especially from June this year, the city is promoting a project to increase the support rate to 90% and reduce the farm’s self-payment to 10%.

Mayor Ju Nak-young of Gyeongju said, "Subscription to crop disaster insurance is not a choice but a necessity to reduce damage to farms caused by natural disasters," and added, "We will do our best to ensure that more farms subscribe to crop disaster insurance."

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