Gyeonggi Urban Corporation Joins Good Landlord Movement... Reduces Rent by 30%
[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Urban Innovation Corporation is joining the 'Good Landlord' campaign to overcome the crisis caused by the novel coronavirus infection (COVID-19).
'Good Landlord' refers to landlords who voluntarily reduce rent for tenant small business owners suffering economic hardship due to COVID-19.
Accordingly, Gyeonggi Urban Innovation Corporation decided to reduce rent by 30% for small business tenants in commercial properties leased from March to June, a period of four months.
With this decision, Gyeonggi Urban Innovation Corporation expects that small business owners residing in about 50 stores, including traditional market shops in Suwon and Goyang and public rental shops, will benefit.
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Earlier, on the 2nd, Gyeonggi Urban Innovation Corporation announced a plan for rapid execution of local finances amounting to 940.6 billion won to revitalize the stagnant local economy.
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