In Yeosu, too, it is possible to enroll in K-GIM aquaculture marine products insurance...Establishing a stable production base with K-GIM

The Agricultural Policy Insurance and Finance Corporation (hereinafter referred to as APIFC) is expanding the pilot project area in Yeosu City, Jeollanam-do, to allow for enrollment in seaweed aquaculture disaster insurance. This is a measure to increase resilience to natural disasters and establish a stable production base in response to the expanding global demand for K-GIM. Seaweed aquaculture disaster insurance is a policy-based insurance managed by the Ministry of Oceans and Fisheries to compensate for damages caused by natural disasters such as typhoons, windstorms, red tides, and abnormal currents, aiming to ensure business stability. The government and local governments support a portion of the insurance premiums, and APIFC manages the insurance. In December of last year, the Ministry of Oceans and Fisheries allocated 493 hectares of new seaweed farming licenses in Yeosu City waters. In line with this, Yeosu City is encouraging aquaculture operators to enroll in disaster ...