South Korea United Against COVID-19... Voluntary Good Deeds Continue with Rent Reductions and Donations

On the 24th, as concerns over the spread of COVID-19 grow, a banner with the phrase "Our market is a clean market you can visit with confidence due to thorough disinfection and sterilization" is hung at Namdaemun Market in Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Shinwon Yoon] Amid growing concerns over the spread of the novel coronavirus infection (COVID-19), voluntary acts of kindness such as rent reductions and donations are continuing as a form of shared suffering.

Recently, "good landlords" who reduce rent for self-employed individuals, who have been hit hardest by COVID-19, have appeared nationwide.

Following the announcement of a "Win-Win Declaration" by 14 landlords in Jeonju Hanok Village, Jeollabuk-do, pledging to reduce rent by more than 10% for over three months, landlords across the country in Seoul, Gwangju, Busan, Daegu, Gangwon, and Daejeon have stepped forward to reduce rent by up to 50%.

Companies have also joined the ranks of "good landlords." Banks such as Shinhan Bank and IBK Industrial Bank have decided to ease the burden on merchants by lowering rent for buildings they own or providing financial benefits.

On the afternoon of the 25th, Red Cross staff loaded emergency relief supplies into vehicles at the relief warehouse on the first floor of the Daejeon-Sejong Branch of the Korean Red Cross in Jung-gu, Daejeon, to support individuals under self-quarantine due to the novel coronavirus infection (COVID-19). The Red Cross explained on the 26th that the supplies were delivered to areas including Geumnam-myeon and Jeondong-myeon in Sejong City. [Image source=Yonhap News]

SRT operator SR announced a policy to lower rent for stores within stations and allow temporary closures without rent charges to support tenants and partner travel agencies struggling due to a decrease in passengers. Korail Distribution, a subsidiary of Korea Railroad, also decided to reduce rent or fees for stores at railway stations.

The government and ruling party have decided to prepare support measures for landlords' voluntary acts of kindness. Hong Ik-pyo, senior spokesperson for the Democratic Party of Korea, stated at a briefing after a high-level government-party-civil cooperation meeting on the 25th, "We have decided to include tax benefits for landlords and self-employed individuals, such as rent reductions, in the supplementary budget to support small self-employed businesses suffering from rent burdens."

Acts of kindness continue as well. Local governments are providing donations, masks, and food supplies, while religious groups and civic organizations are donating funds and quarantine supplies. In particular, a wave of donations is spreading in the entertainment industry, starting with actors Lee Young-ae and Kim Go-eun, followed by Park Seo-joon, Jang Sung-kyu, Yoo Jae-suk, and Lee Byung-hun.

Alongside this, public support through social networking services (SNS) is in full swing. Hashtag (#) campaigns such as "Cheer up Daegu" and "COVID-19 Go Away" are actively taking place to support Daegu, the area most severely affected by COVID-19.

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