Building Owners in Buk-gu, Gwangju Join the 'Good Rent Campaign'

[Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong] Building owners in Buk-gu, Gwangju Metropolitan City, have joined the ‘Good Rent Movement’ to share the social pain of tenants struggling due to the spread of COVID-19.

According to Buk-gu (District Mayor Moon In) on the 10th, as a result of the Maegok-dong Shopping District Association appealing for participation in the Good Rent Movement through an online community since last month, two building owners have reduced rent for 14 tenants for three months, and so far, a total of 23 tenants in the Maegok-dong area have benefited from rent reductions of 20 to 40%.

The Gwangju-Jeonnam Headquarters of the Korea Industrial Complex Corporation located in Buk-gu also plans to reduce rent by 30% for 36 companies residing in the building until August, easing the burden on small and medium-sized enterprises.

Additionally, three landlords in Yongbong-dong Fashion Street have agreed to reduce rent by up to 20%, and traditional markets and shopping districts such as Malbau Market are also raising banners for the Good Rent Movement to foster a participatory atmosphere.

Buk-gu plans to promote rent reductions in the public sector alongside voluntary rent reductions in the private sector, focusing on revitalizing the local economy by conducting rent reduction campaigns targeting small business-related organizations and providing information on government support measures.

Mayor Moon In of Buk-gu said, “I hope this case of participation in the Good Rent Movement will serve as a catalyst for spreading throughout Buk-gu,” and added, “We will continue to implement various support measures to boost the local economy until COVID-19 subsides.”

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