Gyeonggi-do Partners with Woowa Brothers Corp. to Support 'Food Service Small Business Owners' with Weather Disaster Insurance

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province, together with Woowa Brothers Corp., is supporting free enrollment in wind and flood insurance for 10,000 small business owners in the food service industry within the province.

Wind and flood insurance is a policy insurance that compensates for damages caused by eight natural disasters: typhoons, floods, heavy rain, strong winds, wind waves, tsunamis, heavy snow, and earthquakes.

For small business owners, 70% of the insurance premium is supported by national and local government funds.

Woowa Brothers Corp., which operates the leading domestic delivery app Baedal Minjok, announced that starting from the 8th, it will fully cover the 30% self-pay portion of wind and flood insurance premiums for small food service business owners.

The target is all small food service business owners in the province, with enrollment open to the first 10,000 applicants. Those who wish to enroll can apply through the Hyundai Marine & Fire Insurance website by the 28th.

Upon enrollment, compensation of up to 50 million KRW (40 million KRW for facilities and equipment, 10 million KRW for inventory assets) can be received. The coverage period is one year.

Han Young-jo, head of the Natural Disaster Division of the province, stated, "We hope many small food service business owners enroll in wind and flood insurance to prepare for natural disasters."

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