Over 3m livestock have been overwhelmed by South Korea's worst heat wave in history, currently searing the country.
According to Nonghyup Property & Casualty Insurance, a total of 3.23 million livestock have already succumbed to the heat nationwide. Financial damages from the deaths are expected to reach KRW17.3bn ($1.54bn), reports Korea Bizwire. The dead livestock includes 3.01m chicken, 176,000 ducks, and 14,000 pigs.
According to an official at Nonghyup, 97% of the reported livestock deaths took place between 11 and 25 July, when temperatures spiked. During this window, 2.18 million livestock perished.
Among subscribers of livestock insurance, 95% are covered under policies offered by Nonghyup Insurance that offer compensation for losses from livestock in the case of natural disasters and accidents, with 50% of the damages paid for by the central government. Local governments typically fork out an additional 20-40% depending on the specific policy.