Maximum 103 Million KRW Support for Housing Damage Due to Heavy Rain... Expanded Eligibility Criteria

Flood Damage Support Fund Increased from 3 Million to 6 Million Won

People who suffered housing damage due to the recent heavy rains will receive support funds up to 67 million KRW more than before. Additionally, flooded houses will receive support funds of 6 million KRW.

Minister of the Interior and Safety Lee Sang-min is making an announcement on July 31 at the Government Seoul Office in Jongno-gu, Seoul, regarding support measures for heavy rain damage.

The Central Disaster and Safety Countermeasures Headquarters (CDSCH) announced on the 31st at the Government Seoul Office an expansion plan for flood damage support standards with these details.

The government will increase the existing support funds, which were significantly below the actual construction costs, by an average of 2.7 times, providing support ranging from 51 million KRW to 103 million KRW depending on the size of the damaged house for those not enrolled in flood and windstorm insurance. Previously, support ranged from 20 million KRW to 36 million KRW depending on house size. Additionally, consolation payments of 31 million KRW to 67 million KRW will be provided, aiming to support at 80-90% of the level for insured persons. However, to maintain fairness regarding insurance enrollment, insured persons will receive separate consolation payments ranging from 11 million KRW to 26 million KRW.

With this, a flood and windstorm insurance policyholder owning a house of the maximum standard size of 114㎡ (approximately 34.5 pyeong) can receive support funds of 128 million KRW if the house is completely destroyed. For partially damaged houses, 50% of this amount can be received.

The support standard for flooded houses will also be raised. Until now, support funds of 3 million KRW per household were provided for flooded houses. However, considering damages to home appliances and household goods, the plan is to provide double the previous amount, 6 million KRW.

For small business owners whose main business premises suffered flood damage or worse due to the disaster, 3 million KRW per business has been provided, but this will be increased to 7 million KRW. Additionally, local governments will separately provide 2 million KRW per business using disaster relief funds.

Consolation payments, including funeral expenses, will also be provided to the bereaved families of the deceased (including missing persons).

In the agricultural sector, the government plans to provide direct support for recovery. Accordingly, damages to agricultural machinery and equipment, which were previously excluded from natural disaster damage support, will now be included. Agricultural machinery and equipment are essential facilities for farming, and this measure reflects the practical reality that it is difficult to resume farming without repurchasing or newly installing damaged machinery and equipment.

The Ministry of the Interior and Safety will urgently allocate disaster countermeasure funds to local governments on the same day to begin payments this week, starting with the housing and small business sectors where damage assessments have been completed.

Lee Sang-min, head of the CDSCH (Minister of the Ministry of the Interior and Safety), stated, "This expansion plan for flood damage support standards was decided with the top priority of enabling practical recovery for those affected, while also considering various realistic conditions. We will continue to improve the government's disaster damage support system to be of great help in the recovery of disaster victims."

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