Jeonbuk Provincial Government Affiliated Organizations Join the 'Good Landlord Movement'

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] On the 12th, Jeonbuk Province announced that all affiliated institutions under the province have decided to actively participate in the 'Good Landlord Movement,' which has been spreading in the private sector, and have collectively reduced rents for companies residing within the institutions starting this month.

A Jeonbuk Province official stated that earlier this month, during a meeting where affiliated institutions gathered to respond to the current situation, they unanimously agreed to reduce rents to share the economic burden of small business owners struggling due to the prolonged COVID-19 crisis, especially companies residing within the institutions, and to seek mutual development.

There are a total of 15 public institutions under Jeonbuk Province, including one public enterprise and 14 affiliated institutions. Among them, nine affiliated institutions have resident companies, with a total of 307 companies, stores, and organizations residing.

Among these, 292 locations are subject to the rent reduction, excluding 15 places such as local government facilities, government agencies, and companies scheduled to vacate.

The rent reduction period ranges from a minimum of three months to up to six months depending on the institution, starting this month until August, with reduction rates planned to be at least 30% and up to 50% in some cases.

By institution, the reductions are as follows: ▲Jeonbuk Technopark will reduce rent by 30% for 124 locations over three months ▲Jeonbuk Economic and Trade Promotion Agency will reduce rent by 50% for 64 locations over three months ▲Automobile Convergence Technology Institute will reduce rent by 30% for 35 locations over three months ▲ECO Convergence Textile Research Institute will reduce rent by 30% for 7 locations over three months ▲Jeonbuk Bioindustry Promotion Agency will reduce rent by 30% for 35 locations over three months ▲Gunsan Medical Center will reduce rent by 35% for 2 locations over three months ▲Namwon Medical Center will reduce rent by 35% for 1 location over three months ▲Jeonbuk Women’s Education and Culture Center will reduce rent by 30% for 2 locations over six months ▲Jeonbuk Cultural Contents Industry Promotion Agency will reduce rent by 35% for 22 locations over four months.

The total reduction amount for the nine institutions during this period is approximately 182 million KRW, which is about 33% of the total rent of approximately 551 million KRW.

Jeonbuk Province stated that this temporary rent reduction policy will be reviewed in the future depending on the progression of the COVID-19 situation, and if the severe situation continues, additional reductions will be considered.

The 'Good Landlord Movement' that started in Jeonbuk quickly spread nationwide, and in response, the government has provided tax reductions of 50% on the reduced rent amount to landlords who lower rents. The government has also established rent reduction policies for public institutions under its jurisdiction, further promoting the atmosphere of rent reduction.

Governor Song Ha-jin said, “In some institutions, most of the rent is used for managing the facilities where tenants reside, so the decision was probably not easy. Nevertheless, I am grateful to the institutions that rolled up their sleeves to support small business owners in the province facing economic difficulties. Although partial rent reductions will not resolve all hardships, I believe that if this culture of sharing continues to spread, the day we overcome this crisis will come sooner. The province will also work hard to find ways to help.”

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