South Korea: Increase in agricultural insurance for crops in Chungbuk with 24,000 households in 2020

Published 2021년 2월 22일

Tridge summary

The number of farmers in the Chungbuk region who have subscribed to crop accident insurance has increased by 20% to 24,000, with the covered area also increasing by 25% to 24,000 ㏊. The rise in subscriptions is attributed to the frequent natural disasters such as torrential rains, heat waves, and droughts. The insurance is partially funded by the state and local governments, and covers crops including apples, tangerines, sweet persimmons, chestnuts, jujubes, and ginseng.

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Original content

(Cheongju = Yonhap News) Reporter Changhae Jeon = Farmers in the Chungbuk region who subscribe to crop accident insurance are increasing every year. According to Chungbuk-do on the 22nd, the number of farm households who subscribed to crop accident insurance until the end of December last year was 24,000. The increase of 4,38 households (20%) from a year ago (22,42 households). The area was also 24,000 ㏊, an increase of 4,964 ㏊ (25%) from 19,780 ㏊ a year ago. The increase in insurance coverage is analyzed because the number of farmers who recognize the necessity increased due to frequent occurrence of natural disasters such as torrential rains, heat waves and droughts. This insurance is the only means of realistic compensation for damage to crops caused by natural disasters. The subscription fee is supported by 85~92.5% by the state and local governments. The target items are apples, tangerines, sweet ...

Source: Yna