Kyobo Life Insurance Donates 200 Million Won for Wildfire Damage Recovery

Kyobo Life Insurance announced on the 27th that it has donated 200 million KRW to the Hope Bridge National Disaster Relief Association to help with the swift recovery of areas affected by wildfires.

This donation will be used for disaster relief and damage recovery in the Sancheong area of Gyeongnam, which has been declared a special disaster zone.

Kyobo Life Insurance Headquarters. Provided by Kyobo Life Insurance

In addition, Kyobo Life Insurance will allow policyholders affected by wildfires in the special disaster zone to defer premium payments for up to six months. During this period, policyholders can receive insurance benefits regardless of premium payment. Deferred premiums can be paid in a lump sum or in installments after the deferral period ends.

For those who have taken out policy loans, principal and interest repayments can be deferred for up to 12 months, with monthly compound interest also reduced. General loans can have principal and interest payments deferred for up to six months. At the same time, insurance claims will be promptly paid to policyholders in the affected areas.

Affected customers can visit the Kyobo Life Customer Plaza or submit photos and faxes to their financial planner (FP) by the 18th of next month.

A Kyobo Life Insurance official said, “We hope that this small act of kindness will reach neighbors suffering from wildfire damage,” adding, “We will spare no effort to support neighbors in the affected areas to overcome adversity quickly and regain hope in their lives.”

Kyobo Life Insurance provided financial support last year to areas affected by heavy snowfall and to the specialized market in Seocheon, Chungnam, which suffered fire damage. In 2022 and 2023, it donated funds for flood damage recovery. The company has been actively involved in recovery support and various social contribution activities whenever disasters such as COVID-19, earthquakes, and wildfires occur.

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