Kang Ho-dong, NongHyup Chairman "1 Trillion Won Emergency Input for Flood Recovery"...All-out Support

[Financial News] Kang Ho-dong, chairman of NongHyup Central Association, urgently allocated 1 trillion won in interest-free disaster funds for the recovery of heavy rain damage and initiated comprehensive support centered on the field. Recently, with extreme rainfall approaching 100mm per hour, landslides and embankment collapses have occurred in various parts of the country, rapidly spreading damage in the agricultural sector such as farmland, facility houses, and livestock barns.
 Chairman Kang visited severely affected areas such as Chungnam Yesan, Asan, Gyeongnam Hapcheon, and Sancheong on the 20th to meet farmers directly, console them, and urgently inspect the agricultural damage situation. On-site, he decided to allocate 1 trillion won in interest-free disaster funds and urged prompt action in providing discounted supplies of medicines and nutrients for recovery and supporting pest and disease control.
 NongHyup will support up to 10 million won in interest-free emergency living stabilization funds per affected member household at the level of Pan-NongHyup, and will also implement financial burden relief measures such as preferential interest rates for new loans, deferment of existing loan repayments, and deferment of card payments and insurance premiums (up to 6 months). In addition, comprehensive recovery measures such as △waiver of ATM fees △prompt damage assessment processing △support for recovery costs of agricultural materials and facilities △support for recovery of equipment and stores of agricultural cooperatives will be implemented swiftly.
 NongHyup plans to support disaster victims with bread, bottled water, relief kits, and laundry trucks, and will also deploy field recovery equipment such as disinfection vehicles and water spray vehicles to help stabilize lives. Once the heavy rain subsides, all NongHyup employees will participate in a labor assistance campaign to support the quick return of affected farms to farming.
 Chairman Kang said, "I deeply console the farmers and disaster victims who lost their livelihoods due to the sudden heavy rain," and added, "We will do our utmost to provide substantial recovery support rather than formalities so that affected farms can return to normal as soon as possible."

spring@fnnews.com Lee Bomi Reporter