Regarding measures to support flood damage caused by record heavy rain, Financial Services Commission Chairman Kim Joo-hyeon said, "We will operate an expedited payment system for self-vehicle (own vehicle) non-life insurance for vehicles that have been flooded due to flooding."

Chairman Kim attended the emergency party-government council to inspect flood damage countermeasures held at the National Assembly on the afternoon of the 10th and said, "We have prepared a financial support plan so that those who have suffered floods can be compensated promptly and receive necessary funds."

Chairman Kim said, "If the owner of the damaged vehicle subscribes to own vehicle damage insurance, he or she can be compensated for the damage to the vehicle caused by the heavy rain." I will,” he explained.

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Regarding the household support measures, he said, "We plan to provide emergency living stabilization funds from banks and other financial institutions, and to ease the repayment burden of existing loans by extending maturity and deferring repayment," he said. We will also suspend the payment obligation to ease the burden of expenses for those who have suffered damage.”

In addition, Chairman Kim said, "In case of unavoidable tax delinquency, we will support the credit recovery committee with a special financial adjustment to support the deferment of interest-free repayment. We will provide support for emergency recovery funds and extension of maturity without any setbacks,” he said.

"The government will make efforts to provide emergency recovery at the site of damage, support the victims, and return to daily life, and through a prompt investigation of damage, we will actively review support measures such as declaring a special disaster zone if necessary," said Visit Kyu, head of the Office of Government Policy Coordination.

Director Bang added, "With the occurrence of this heavy rain as an opportunity, we will prepare measures to stabilize housing in vulnerable areas, and expand disaster response infrastructure such as drainage facilities and river management."

Today, the party was held to review the flood damage caused by the record heavy rain, and to provide budgetary support, loans for victims, and additional damage prevention measures.

(Photo = Yonhap News)