ULSAN — The city of Ulsan announced Wednesday it will implement a bicycle insurance support program for 2026, providing insurance benefits to all residents in the event of bicycle accidents.
All citizens registered as Ulsan residents, as well as registered foreign nationals in the city, will be automatically enrolled without a separate application process. Coverage extends through February 26 of next year.
Key benefits include 300,000 won ($210) for injuries requiring a diagnosis of four weeks or more, and up to 30 million won for death or permanent disability resulting from bicycle accidents.
For cyclists who cause injury or death to others while riding, the insurance covers up to 20 million won per accident for fines, 2 million won for attorney fees, and up to 30 million won for traffic accident settlement costs.
"We hope the bicycle insurance will provide practical assistance to citizens facing difficulties from unexpected accidents," a city official said. "We will do our best to create an urban environment where cycling is enjoyable."
The bicycle insurance support program has been in operation since 2011 to reduce the financial burden on citizens from bicycle accidents and create an environment where people can cycle with peace of mind.
Since 2015, Ulsan has signed a blanket contract with insurers, enabling residents to receive uniform insurance services regardless of their district of residence.
Last year, insurance payouts totaling 604.57 million won were made for 768 bicycle safety accidents in the Ulsan region.