Ulsan will subsidize premiums for crop disaster insurance and farm income stabilization insurance through December, aiming to compensate farmers for damage from natural disasters such as drought and heat waves and to stabilize their operations.
Crop disaster insurance compensates for reduced harvests of crops including pears, apples and rice, while farm income stabilization insurance covers income losses from both reduced production and falling prices.
The support targets farmers and corporations registered as agricultural business entities. Recipients will receive 90 to 95 percent of their insurance premiums, allowing them to enroll with a self-payment of 5 to 10 percent. Farmers wishing to apply can do so through their local branch of the National Agricultural Cooperative Federation.
An Ulsan official strongly urged farmers to enroll in order to ensure stable farming activities and minimize damage.
