LOFA Provides 160 Million Won in Disaster Recovery Support to Cheonan City and Buyeo County

The Korea Local Finance Association (Chairman Jeong Seonyong, hereinafter referred to as LOFA) delivered 100 million won and 60 million won in disaster recovery financial support to Cheonan City and Buyeo County, which were declared special disaster areas due to record-breaking torrential rains.

Jeong Seonyong, Chairman of the Korea Local Finance Association (left), is delivering 100 million won in financial support for flood damage recovery in the special disaster area to Kim Seokpil, Acting Mayor of Cheonan City Hall (right), on the 4th. Provided by the Korea Local Finance Association

This financial support was provided to assist with disaster recovery in areas affected by heavy rainfall in July. For Cheonan City, this is the third time support has been provided, following payments of 76 million won in 2017 and 100 million won in 2020. For Buyeo County, a total of 477 million won has been provided since 2012, making this the sixth instance of support.

On September 4, Chairman Jeong Seonyong visited Cheonan City Hall and delivered the disaster recovery financial support to Acting Mayor Kim Seokpil. He stated, "It is very encouraging to hear that emergency recovery from the torrential rain damage in Cheonan City has been completed promptly, and I hope this financial support will be of practical help in the ongoing recovery process." He added, "We promise a swift damage assessment and accurate payment of compensation for the flood damage in Cheonan City."

Jung Sunyong, Chairman of the Korea Local Finance Association (right), is delivering 60 million won in financial support for flood damage recovery in the special disaster area to Park Junghyun, Mayor of Buyeo County (left), at Buyeo County Office on the 5th. Provided by Korea Local Finance Association

On September 5, Chairman Jeong Seonyong visited Buyeo County Office to deliver the sixth round of financial support and met with County Mayor Park Junghyun. He said, "I am well aware that Buyeo County has faced significant difficulties due to disasters, having been designated a special disaster area multiple times in the past. LOFA is actively considering not only this financial support but also a variety of future support projects to strengthen disaster prevention and management."

LOFA is the only public interest corporation in Korea composed of 243 local governments, local public corporations, public enterprises, and affiliated organizations. Since 2012, LOFA has been providing disaster recovery financial support, separate from compensation payments, to share the burden of members declared as special disaster areas.

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