KCCI Reduces Rent by 50% for Resident Small Businesses... Practicing the 'Good Landlord Movement'

Applied for 3 months starting this month

Korea Chamber of Commerce and Industry located on Sejong-daero, Seoul

[Asia Economy Reporter Dongwoo Lee] The Korea Chamber of Commerce and Industry announced on the 15th that it will join the 'Good Landlord Movement' to support small business tenants affected by the novel coronavirus disease (COVID-19) crisis.

As a result of this decision, 11 small business tenants residing in the Korea Chamber of Commerce and Industry building located on Sejong-daero in Seoul will receive a 50% rent reduction for three months starting this month. The Korea Chamber explained that this decision was made to assist tenants facing difficulties such as decreased sales due to COVID-19.

Previously, the Korea Chamber operated a task force to resolve corporate difficulties caused by COVID-19, receiving 357 cases of business complaints and delivering 30 agenda items across 8 major areas, including 'expanded supplementary budget' and 'base interest rate cuts,' to the government.

Additionally, to help overcome the COVID-19 crisis, they provided masks and hand sanitizers to the Daegu region. Donations were made to vulnerable groups such as residents of jjokbangchon (small rooms or slum areas), and encouragement supplies were provided to related organizations burdened with heavy workloads.

A representative of the Korea Chamber stated, “Although some regional chambers such as Anyang-Gwacheon and Pohang have already participated, we plan to request nationwide regional chambers to join in order to spread the Good Landlord Movement across the country and share the pain of the COVID-19 crisis.”

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