[Exclusive] Singer Bi Joins 'Kind Landlord Movement'... March Rent at Half Price

Temporary Rent Reduction Notice for Rain Avenue in Cheongdam-dong, Gangnam-gu, Seoul
Purpose to Support Tenants Struggling Due to COVID-19
"Let's Endure the Crisis Well"

[Asia Economy Reporter Onyu Lim] Singer Rain (real name Jung Ji-hoon), known as the 'Cheongdam-dong building owner,' has joined the nationwide spreading 'Good Landlord Movement.' The purpose is to share the difficulties of tenants struggling with business due to the novel coronavirus infection (hereafter COVID-19).

According to the real estate industry on the 4th, Rain delivered an official letter on the 2nd to the tenant of Rain Avenue located in Cheongdam-dong, Gangnam-gu, Seoul, stating that the rent for March would be reduced by 50%. He expressed his intention to participate in the Good Landlord Movement, which started in Jeonju Hanok Village and has been spreading, as tenants are facing difficulties due to a sharp decline in sales caused by COVID-19.

In the letter, Rain stated, "Due to the ongoing COVID-19, we believe your company's operations have encountered significant difficulties, so we have decided to charge only 50% of your rent for March to alleviate your hardship even a little."

Rain Avenue is located at 19, Apgujeong-ro 79-gil, Gangnam-gu, Seoul, near the luxury shopping street in Cheongdam-dong. Currently, it is leased and used by the craft beer pub Kabrew Brewpub, the hair salon Jung Saem Mool Inspiration West, and others.

Rain purchased the site in July 2008 and rebuilt it into the current building with three basement floors and six above-ground floors through new construction in 2017. At that time, the total floor area was 2,991.93㎡ (approximately 905 pyeong), and it was expanded in October last year to the current size of 3,218.94㎡ (approximately 974 pyeong).

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