The 'Good Rent' Movement Also Sweeps Dongmyeong-dong, Dong-gu, Gwangju

‘Dongmyeong Community Coexistence Association’ Decides to Reduce Rent... "Overcoming Difficulties Through Coexistence"

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] The Dongmyeong-dong area in Dong-gu, Gwangju Metropolitan City, known as the ‘Street of Cafes’ and ‘Street of Youth,’ has also experienced a wave of ‘Good Rent’ initiatives.

On the 27th, Dong-gu, Gwangju (Mayor Im Taek) held the ‘Dongmyeong Community Win-Win Council’ with about 20 merchants and building owners attending, announcing that building owners have voluntarily agreed to reduce rents to help struggling self-employed business owners.

Last year, the council signed a win-win agreement to maintain appropriate rent levels (an anti-gentrification agreement) for the sustainable development of the Dongmyeong-dong commercial district.

This year, the council agreed to voluntarily reduce rents by 5 to 15% for three months to support self-employed business owners facing difficulties due to the spread of COVID-19.

Additionally, they decided to launch the ‘Good Landlord’ project, a win-win agreement to support tenants struggling with COVID-19 and stabilize rents in Dongmyeong-dong, and to recruit more building owners to participate.

Chairman Choi Bok-hyun of the council said, “We cannot just stand by while tenants collapse,” adding, “Building owners have taken the lead to achieve mutual prosperity through rent reductions.”

Furthermore, eight autonomous organizations, including the Dongmyeong-dong Residents’ Autonomy Committee (Chairman Kang Seong-pil), will encourage building owners to voluntarily participate in rent reductions.

Im Taek, Mayor of Dong-gu, said, “I hope the Dongmyeong-dong Good Rent Movement to overcome COVID-19 will revive the depressed community and serve as a catalyst for the win-win development of building owners and tenants,” adding, “I appreciate the private sector’s efforts to share the burden and will do my best to revitalize the local economy.”

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