Chungnam Province "12 Million Won Support Per Store at Seocheon Specialized Market"

Disaster Relief and Living Stability Support Fund of 5 Million Won Provided
Chungnam Province to Independently Provide Additional 7 Million Won Before Holidays
Compensation for Inventory Losses, Business Damages, and Corporate Donations Collected

Chungnam Province is expanding support for stores affected by the fire at Seocheon Specialty Market.

On the 30th, Chungnam Province announced that in addition to the recent support of 5 million KRW per affected store through disaster relief funds and living stabilization subsidies, it plans to provide an additional 7 million KRW before the Lunar New Year holiday.

On the same day, Governor Kim Tae-heum held a press conference at the Chungnam Provincial Government Office to announce this plan. Governor Kim said, “Chungnam Province is fully committed to restoring the damage caused by the Seocheon Specialty Market fire and supporting the affected merchants,” adding, “We are preparing special support for the second round of living stabilization funds and losses related to business damages, in addition to the disaster relief funds already provided.”

Previously, from the 24th to the 25th, Chungnam Province provided disaster relief funds and living stabilization subsidies to 257 affected stores in the Seocheon Specialty Market (excluding 31 vacant stores and 4 non-operating stores out of a total of 292 stores).

Furthermore, Chungnam Province plans to provide a special second round of living stabilization funds of 7 million KRW per store before the Lunar New Year holiday, enabling affected stores to receive a total of 12 million KRW each.

Governor Kim explained, “Although there are no government standards for additional support, the payment was decided at the discretion of the governor after deliberation by the Disaster and Safety Countermeasures Headquarters.”

In addition, Chungnam Province plans to provide compensation for losses of inventory and business damages, differentiated according to industry type and loss scale. To raise compensation funds, Chungnam Province will solicit donations by requesting cooperation from financial institutions and companies.

A temporary permanent market will also be established for merchants affected by the fire. Chungnam Province plans to complete the establishment of the temporary permanent market by early April, before the Flatfish and Red Sea Bream Festival, by investing 4 billion KRW in project costs.

Governor Kim said, “The temporary market will be quickly implemented using the negotiated contract system applied during disasters, in the form of modular units (restaurants and general stores) and large-span membrane structures (for seafood).”

He added, “Although the temporary market site is limited in size, we will secure the maximum possible building floor area to ensure no inconvenience for merchants and users, and rent will be provided free of charge until the specialty market is rebuilt.”

The reconstruction, including demolition and waste disposal of the specialty market, will be carried out using a turnkey design and construction method, aiming to be completed within one year and six months.

To this end, Chungnam Province plans to invest 40 billion KRW in project costs. Of this, half is planned to be covered by national funds and mutual insurance.

Meanwhile, Chungnam Province is providing up to 100 million KRW per store, totaling 20 billion KRW, through special disaster guarantees for small business owners with zero interest, no collateral, and no fees.

Additionally, local taxes and delinquent payments have been deferred, city gas fees have been exempted, and a request for exemption of electricity fees has been submitted to the Ministry of Trade, Industry and Energy.

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