Immediate Local Government Subsidy Support Upon Fishermen's Enrollment in Fisheries Policy Insurance

Ministry of Oceans and Fisheries Builds 'Integrated Local Government Subsidy Support System'

[Sejong=Asia Economy Reporter Kwon Haeyoung] From this year, fishermen who subscribe to the Fisheries Policy Insurance will be able to receive not only national subsidies but also local government subsidies immediately when paying insurance premiums.

The Ministry of Oceans and Fisheries announced on the 9th that it has established a "Local Government Subsidy Integrated Support System" based on this content.

The Ministry operates fisheries policy insurance such as crew and fishing vessel accident compensation insurance, aquaculture seafood disaster insurance, and fishermen's safety insurance to protect fishermen from disasters and promote stable management of fishing households. As part of reducing the burden on fishermen, the national and local governments partially support insurance premiums. Unlike the national subsidy, which is paid immediately upon premium payment, the local government subsidy system required payment first and reimbursement at the end of the year, causing inconvenience to fishermen.

Accordingly, as part of proactive administration in December last year, the Ministry established the "Local Government Subsidy Integrated Support System," enabling fishermen who subscribe this year to receive local government subsidies immediately upon premium payment.

Lee Jongho, Director of the Income Welfare Division at the Ministry of Oceans and Fisheries, stated, "With national and local subsidies paid simultaneously, fishermen in the field will be able to subscribe to insurance more conveniently," and added, "We will continue to share information and cooperate with local governments to ensure that more benefits reach fishermen."

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