Mubo Joins 'Good Landlord Movement'... 30% Rent Reduction for Tenant Companies

Korea Trade Insurance Corporation Headquarters

[Asia Economy Reporter Kim Bo-kyung] The Korea Trade Insurance Corporation announced on the 11th that it will carry out the 'Good Landlord Movement' and support social welfare facilities to share the pain of local communities caused by the novel coronavirus infection (COVID-19).

First, to alleviate the difficulties of tenants whose sales have sharply declined due to the spread of COVID-19, the corporation will participate in the Good Landlord Movement. The support targets are 12 companies located in the K-SURE building in Jongno-gu, Seoul, and the rent will be reduced by 30% for six months from March to August this year.

This rent reduction is to proactively implement the government's comprehensive measures for livelihood and economy to overcome COVID-19, led by the Ministry of Trade, Industry and Energy, and is expected to help small business owners who are experiencing difficulties.

In addition, customized donations will be made to minimize the ripple effects of this situation and to support the medical field.

A total of 34 million KRW will be donated to 17 sister social welfare facilities of K-SURE's domestic branches, including the senior welfare center located in Gyeryong-si, Chungnam. Also, 20 million KRW will be donated to the National Disaster Relief Association to deliver support kits containing health products such as red ginseng and vitamins to medical staff in the Daegu and Gyeongbuk regions.

To help traditional markets, which are deepening in recession due to consumers' avoidance of face-to-face contact, support for building the website of the sister traditional market, Inwang Market, will be promptly carried out. K-SURE is currently promoting a service contract worth 10 million KRW to quickly establish online sales channels for traditional markets.

Lee In-ho, president of K-SURE, said, "Along with policy support to minimize damage to export companies, we will realize the value of coexistence so that our society can contribute to the early overcoming of this situation."

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