Gangnam Residents Guaranteed Up to 10 Million Won for Bicycle Accidents Starting May

[Asia Economy Reporter Jongil Park] Gangnam-gu (District Mayor Jeong Soon-gyun) completed the enrollment of all residents in bicycle insurance on the 26th.

Accordingly, residents registered in Gangnam-gu will be covered up to 10 million KRW in case of bicycle accidents starting from May.

The district planned this project in response to the increase in bicycle users and accidents due to the ongoing impact of COVID-19 since last year.

People residing in Gangnam-gu are automatically enrolled in the insurance without any separate registration process. Insurance benefits can be claimed for bicycle accidents occurring anywhere nationwide. Compensation can be claimed if injured while riding or riding as a passenger, or in a bicycle collision accident while walking.

The coverage period is from May 1st until the end of April 2022.

If diagnosed with an injury requiring treatment for more than 4 weeks, consolation money ranging from 200,000 to 600,000 KRW will be paid. For hospitalization of 7 days or more, 200,000 KRW is paid, and in case of death (excluding those under 15 years old) or permanent disability, coverage is up to 10 million KRW. If a person causes harm to others while riding a bicycle, fines up to 20 million KRW, attorney fees up to 2 million KRW, and accident handling support funds up to 30 million KRW are covered.

Meanwhile, through the focused maintenance plan for traffic-vulnerable zones, the district will convert various traffic facilities to new technologies and intelligent systems over the next five years. In particular, this year, aiming to promote bicycle use and create a safe walking environment, the district plans to operate a ‘Visiting Traffic Safety Education’ program linked with bicycle classes at elementary, middle, and high schools in the area.

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