KT Supports Rent for 2,500 Stores Hit Hard by COVID-19

[Asia Economy Reporter Koo Chae-eun] KT announced that it will support the monthly rent for its stores nationwide throughout February to help dealerships struggling with business due to COVID-19. The support covers 50% of the rent for the severely affected Daegu and Gyeongbuk regions, and 30% for other areas.

In addition, to support distribution networks facing difficulties from decreased sales caused by COVID-19, KT has been implementing business policy support measures since early February in two phases, including extending credit deadlines for dealership bonds and strengthening win-win support measures.

There are about 2,500 KT dealership stores nationwide. The total amount of rent and policy support provided, combined with the support measures implemented since early February, is approximately 5 billion KRW.

KT will also continue to provide quarantine supplies to ensure the safety of customers visiting the stores. The quarantine supplies include kits composed of sprays and disinfectants that can be used for more than a month, as well as masks and hand sanitizers.

KT stated, "We have prepared practical measures to provide real help to dealerships across all regions to coexist with distribution networks suffering from COVID-19 and to overcome the crisis together. We will also strengthen the provision of quarantine supplies within stores to protect the safety of visiting customers and distribution network workers."

KT previously announced that to assist small business owners facing difficulties such as decreased customer visits, it will reduce rent by 50% for the Daegu and Gyeongbuk regions and by 20% for other areas for three months for small business tenants located in KT buildings.

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