'Haengbokhan Baekhwajeom' Small Business Rent Reduced by 20%... "For 3 Months Starting Next Month"

Happy Department Store Exterior View

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Distribution Center announced on the 26th that it will reduce rent by 20% for small business operators leasing stores adjacent to Haengbokhan Department Store.

This rent reduction is a measure to support small business operators in Haengbokhan Department Store who have fallen into stagnation due to the spread of the novel coronavirus infection (COVID-19). The rent will be reduced for three months starting next month.

Haengbokhan Department Store was established in 1999 in Mokdong, Seoul, with the purpose of supporting sales channels for small and medium enterprises. It is operated by the Small and Medium Business Distribution Center, a public institution under the Ministry of SMEs and Startups.

Jung Jinsoo, CEO of the Small and Medium Business Distribution Center, said, "We hope that the decision to reduce rent by 20% at Haengbokhan Department Store, which was started to share the pain of small business owners, will help overcome the decline in sales of small business owners hit hard by the spread of COVID-19 and the stagnation of the local economy."

This content was produced with the assistance of AI translation services.