Nonghyup provides 500 million won for Gyeongsangnam-do flood recovery

Nonghyup has announced an additional 500 million won donation to the Gyeongsangnam-do branch of the Korean Red Cross to assist residents recovering from heavy rains in August. This contribution is part of a broader relief effort targeting areas such as Geoje and Tongyeong.

To support farmers facing flooded fields and damaged facilities, Nonghyup has organized a comprehensive support package totaling up to 50 billion won in emergency recovery funds. This includes field recovery assistance, financial aid, insurance support, and livelihood stability measures. Previous contributions to the region have totaled 730 million won.

Financial assistance measures include interest-free emergency living stability funds of up to 30 million won per household through Nonghyup Mutual Finance, as well as preferential interest rates and deferred loan repayments through NH Nonghyup Bank. Additionally, NH Nonghyup Property & Casualty Insurance is deploying personnel for rapid damage assessment and providing 50% advance payments of estimated insurance claims to aid cash flow.