GH Supports 'Flood and Earthquake Disaster Insurance' for 1,246 Semi-basement Households...Nation's First

Gyeonggi Housing and Urban Development Corporation

Gyeonggi Housing and Urban Corporation (GH) is supporting the subscription to flood, wind, and earthquake disaster insurance for 1,246 households living in semi-basement rental homes ahead of the rainy season, becoming the first local public enterprise to do so.

The flood, wind, and earthquake disaster insurance is a program that practically compensates for property damage to homes caused by natural disasters such as typhoons, floods, heavy rain, and strong winds. Last year, about 200 households benefited from this support.

To subscribe to the insurance, semi-basement residents can apply by visiting the administrative welfare center. GH will fully cover the policyholder’s share of the insurance premium at no cost.

Additionally, safety facility installation costs, including flood prevention facilities such as flood barriers, operable security windows, and flood alarms, are supported up to 1 million KRW, and moving expenses to above-ground residences are supported up to 400,000 KRW.

Kim Se-yong, president of GH, stated, "The corporation will spare no effort in meticulous preparation and support to create a safe living environment in semi-basement homes and prevent flooding accidents."

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