Not a final offer

by Andy Jackson on January 8, 2008

Somehow, I have a feeling that this figure is going to be adjusted over the weeks ahead (Yonhap):

Compensation measures are not yet clear. The warehouse, owned by the logistics company Korea 2000, is covered by a 15 billion won (US$16.3 million) insurance contract with South Korea’s LIG Insurance Co., Ltd., but the payment mostly applies for property damage rather than human casualties.

“It’d be impossible for each victim to be provided with more than 10 million won (US$10,600) for that kind of an insurance,” said an LIG official on condition of anonymity.

My first guess is that Korea 2000 will have to take a hit on the property damages in order to give more compensation to the families.

Any ideas from people who know more about such things is welcome.

{ 4 comments… read them below or add one }

1 boshintang January 8, 2008 at 7:15 pm: Any ideas from people who know more about such things are welcome.
2 SomeguyinKorea January 8, 2008 at 8:09 pm: I hope it’s over than 10 million won. I got over a million won from my own insurance policy when I was hospitalized for 3 days.
3 SomeguyinKorea January 8, 2008 at 8:10 pm: Correction: drop the ‘than’.
4 Andy Jackson January 8, 2008 at 9:38 pm: #1 Yeah.