Life and General Insurance Sectors Provide 100 Million Won in Energy Cost Support to Jjokbang Community Residents

Cheolju Kim: "Empathizing with the Difficulties of Vulnerable Groups"

Byungrae Lee: "Continuing Sharing Activities for the Vulnerable"

The Life Insurance Social Contribution Committee and the General Insurance Social Contribution Council announced on April 29 that they have decided to provide a total of 100 million won (50 million won each) in energy cost support to residents of jjokbang communities who are struggling due to rising energy prices caused by recent instability in the Middle East.

Kim Cheoljoo, Chairman of the Life Insurance Association. Life Insurance Association

This support initiative was jointly promoted by the two associations, the Korea Energy Agency, and the National Association of Jjokbang Counseling Centers to help stabilize the lives of vulnerable groups who are facing increased energy costs for heating oil and electricity.

The support will be provided through 10 jjokbang counseling centers located in Seoul, Incheon, Daejeon, Daegu, and Busan. Beneficiaries will receive assistance in the form of heating oil (in kind), reimbursement for actual electricity bills, or the provision of cooling and heating supplies.

Byungrae Lee, Chairman of the General Insurance Association of Korea. General Insurance Association of Korea

Cheolju Kim, Chairman of the Life Insurance Social Contribution Committee and Chairman of the Life Insurance Association, said, "I deeply empathize with the difficulties faced by energy-vulnerable groups, such as residents of jjokbang communities, due to the recent surge in oil prices. I hope that this small contribution from the insurance industry will help bring a bit more comfort and warmth to their daily lives."

Byungrae Lee, Chairman of the General Insurance Social Contribution Council and President of the General Insurance Association of Korea, stated, "We hope that this support will provide practical help to those who are particularly affected by the energy crisis. The general insurance sector will continue to fulfill its social responsibility by carrying out sharing activities for vulnerable groups."

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