Extension of insurance subscription period for items vulnerable to high temperatures in South Korea

게시됨 2024년 7월 1일

Tridge 요약

The Ministry of Oceans and Fisheries in South Korea is taking steps to protect aquaculture farms from potential damage due to higher than normal sea temperatures this year. To achieve this, the ministry is extending the deadline for aquaculture insurance subscriptions for five temperature-sensitive species by one week, and is also inspecting the compensation system for aquaculture disasters. The insurance subscription period for other aquaculture items will close on July 1, while the deadline for the five temperature-sensitive species will be extended to July 8. The ministry will also be introducing high-temperature special contracts for additional aquaculture items and a low-cost insurance option for sea squirt disaster insurance to encourage more sign-ups.

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원본 콘텐츠

As the sea temperature is expected to be about 1℃ higher than normal this year, the Ministry of Oceans and Fisheries is encouraging the expansion of aquaculture insurance subscriptions to respond to damage to farmed fish and also inspecting the compensation system. First, the Ministry of Oceans and Fisheries decided to extend the subscription deadline by one week for five products that are particularly vulnerable to high temperatures: flounder, rockfish, abalone, bandits, and sea squirts. The Ministry of Oceans and Fisheries currently operates aquaculture disaster insurance for 28 aquaculture items and facilities in accordance with the Agriculture and Fisheries Disaster Insurance Act. 50% of the insurance premiums that subscribers to form disaster insurance must pay are supported by government funds, and additional support is provided depending on the budget circumstances of each local government. However, as the sea temperature this year is expected to be higher than usual, the ...

출처: Fisheco