On the 3rd, the People Power Party requested the government to allocate an additional budget of 3 trillion won to recover from the recent large-scale wildfire damage in the Yeongnam region.
Kim Sang-hoon, the policy committee chairman of the People Power Party, announced this after a party-government consultation meeting held at the National Assembly to prepare measures for wildfire damage. He stated that the reserve funds and budgets for wildfire management in government departments have almost been exhausted, and plans to distribute the funds between departmental budgets and reserves.
During the meeting, the party and government formulated measures to support wildfire victims, which include the installation of temporary prefabricated housing, housing loan support, and emergency livelihood stabilization funds.
Initially, approximately 2,700 temporary prefabricated houses will be installed swiftly to address urgent housing damage.
Maximum support will be provided for disaster housing restoration loans to victims whose homes were lost or damaged. In the case of special disaster areas, an interest rate of 1.5% per annum applies to loans of up to 124 million won.
Victims in special disaster areas who wish to rent private housing will receive support for a maximum lease deposit of 130 million won.
For livelihood support, policyholders of disaster insurance who wish can receive 50% of the estimated damage amount upfront, and efforts are underway to provide up to 30 million won per household in emergency livelihood stabilization funds.
Additionally, the plan is to support 66 small business owners and small to medium enterprises in the disaster-affected areas with emergency operational funds at exceptionally low-interest rates.