Typhoon 'Hinnamno' Damage Recovery Cost Confirmed at 780.2 Billion Won... Increased Support Funds for Housing and Small Business Damage

August Heavy Rain Damage Recovery Fund Increased by 42 Billion Won... Reform of Private Facility Damage Support System Underway

[Asia Economy Reporter Lim Cheol-young] The Central Disaster and Safety Countermeasures Headquarters (CDSCH) announced on the 21st that it convened a meeting to deliberate and resolve matters related to the typhoon damage recovery plan and the reform of support systems for housing and small business owners. At the meeting, the CDSCH finalized a recovery plan involving an investment of 780.2 billion KRW for damages caused by Typhoon No. 11 Hinnamnor, and decided to pilot an increase in existing support standards to provide assistance considering the housing and livelihood stability of affected homeowners and small business owners.

The CDSCH assessed that due to Typhoon No. 11 Hinnamnor, some areas experienced rainfall exceeding a 500-year frequency, far surpassing the planned frequency (80 years) for flood control facilities such as rivers, causing major urban rivers to overflow and resulting in concentrated flooding damage to surrounding commercial and residential properties. The total property damage from this typhoon amounted to 244 billion KRW, with 5,105 households in low-lying urban areas such as Pohang and Gyeongju in North Gyeongsang Province, and 10,042 small business establishments suffering flood damage. Additionally, 338.6 hectares of farmland were lost or buried, and 52,524.3 hectares of crops were flooded, causing damage to private facilities. Public facilities also sustained damage, including 472 cases of river and small stream damage, 155 cases of roads and bridges, 119 cases of fishing ports and harbors, and 96 landslides, totaling 1,706 sites.

The CDSCH calculated the support amount based on property damage and recovery costs according to recovery fund regulations, and established recovery plans for public facilities that caused damage to private properties to prevent recurrence of similar damage. In particular, rivers that caused casualties and flooding in surrounding areas will be fundamentally improved by widening river widths and expanding bridges with narrow spans to facilitate smooth flood flow as part of the recovery plan.

Support funds for housing and small business owners were also increased. Previously, a flat rate of 16 million KRW was provided for completely destroyed houses, but now support ranges from a minimum of 20 million KRW to a maximum of 36 million KRW depending on the size of the damaged house. For partially destroyed houses, support has increased from the previous 8 million KRW to a minimum of 10 million KRW and a maximum of 18 million KRW. Additionally, flooded houses will receive an extra 1 million KRW, increasing support from 2 million KRW to 3 million KRW. Small business owners who suffered flood damage will receive a total of 3 million KRW, which includes an additional 1 million KRW on top of the 2 million KRW provided for the August heavy rain damage.

The CDSCH explained that the additional support beyond the legal standards was intended to consider the housing and livelihood stability of affected disaster victims and small business owners. It also announced that the previously confirmed recovery plan would be amended to apply the increased support standards equally to those affected by housing damage from the August heavy rains, with an additional 42 billion KRW allocated for recovery costs to provide further support.

Reform of the private facility damage support system will also be pursued. The support system for private facility damage aimed at stabilizing the livelihoods of disaster victims in housing and farmers and fishermen has been maintained for about 50 years since the 1970s. However, as the overall living standards of the public have improved and the industrial structure has shifted from primary industries such as agriculture and fisheries to secondary and tertiary industries, the need for comprehensive reform has been raised.

Lee Sang-min, head of the headquarters (Minister of the Ministry of the Interior and Safety), stated, “The government has established a recovery plan by raising support standards for housing and small business owners to help residents struggling from the recent typhoon damage,” and added, “We will do our best to promptly carry out recovery projects so that the affected areas can fully restore their original state.” He further said, “We will finalize the reform plan for the private facility damage support system through consultations with related agencies by early next year.”

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