Changwon Special City, "Prepared for Fires... Support for Fire Insurance in Traditional Markets"

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[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] Changwon Special City in Gyeongnam Province is expanding support for the traditional market fire mutual aid project starting this year to prepare for fires that can occur at any time due to the vulnerability of traditional markets to large-scale fires.

The fire mutual aid support project is a program in which the Ministry of SMEs and Startups (Small Enterprise and Market Service), Gyeongsangnam-do Province, and Changwon City provide 80% support for mutual aid fees (40% provincial funds, 40% city funds) to merchants who have registered their businesses in traditional markets (recognized under Article 2 of the Traditional Market Act) when they join the fire mutual aid. This project is implemented to help with rapid damage recovery and livelihood stabilization in the event of a fire.

Changwon Special City Hall, Gyeongnam.
Photo by Lee Seryeong

Starting this year, the city is expanding the support rate to reduce the burden of fire mutual aid fees on traditional market merchants (from 60% support with 40% self-payment to 80% support with 20% self-payment). The enrollment procedure involves joining the mutual aid through a mutual aid specialist counselor at the Small Enterprise and Market Service of the Ministry of SMEs and Startups, and then submitting proof of fire mutual aid enrollment to the local district office (Economic and Transportation Division) to receive subsidy support.

Detailed information about the fire mutual aid support project can also be found on the website of the local district office’s Economic and Transportation Division or the Small Enterprise and Market Service.

Hong Nam-pyo, Mayor of Changwon Special City, stated, “The city will do its best to protect the property and safety of merchants through the traditional market fire mutual aid support project,” and added, “We ask merchants to actively participate in joining the fire mutual aid so that they can be prepared for fires that may occur at any time.”

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