Residents of Nam-gu, Gwangju to Receive Bicycle Insurance Benefits

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Nam-gu, Gwangju Metropolitan City (District Mayor Kim Byung-nae) is implementing bicycle insurance that compensates for damages in case of accidents.

Nam-gu announced on the 6th that it will implement an insurance system for residents in the district to compensate for the economic losses of residents who suffer damages such as death and aftereffects caused by bicycle accidents, and to establish safety measures to promote bicycle use.

The insurance benefits any resident registered in the district, including foreigners, and no separate enrollment procedure is required. The insurance validity period is one year from this month until August 29 of next year.

The coverage includes compensation for accidents occurring while directly riding a bicycle or when colliding with a bicycle while walking on the road.

In case of death due to a bicycle accident, compensation of 10 million KRW is provided except for residents under 15 years old, and in case of aftereffects, compensation is provided within a limit of 10 million KRW according to the disability grade ranging from 3% to 100%.

If diagnosed with a recovery period of more than 4 weeks, consolation money ranging from 100,000 to 500,000 KRW is paid according to the period, and if hospitalized for more than 6 days, a hospitalization consolation payment of 100,000 KRW is also provided.

If a resident aged 14 or older causes injury or death to others while riding a bicycle and is fined by a final judgment, compensation is provided up to 20 million KRW, and if detained or prosecuted, attorney fees are reimbursed up to 2 million KRW.

Additionally, if a serious injury is caused by a bicycle accident or the victim receives a diagnosis of 42 days or more and prosecution is filed, traffic accident settlement support of up to 30 million KRW is provided under criminal settlement conditions.

A Nam-gu official stated, "We will do our best to create an environment where all Nam-gu residents can use bicycles safely and with peace of mind."

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