Shindonga Construction Joins 'Good Landlord Movement'... 50% Rent Reduction for Commercial Spaces

[Asia Economy Reporter Kim Yuri] Shindonga Construction announced on the 19th that it will join the 'Good Landlord Movement' to support small business owners struggling with decreased sales due to the recent COVID-19 pandemic.

Through this decision, about 50 small business tenants in the Shindonga Shopping Center, the company's headquarters building located in Yongsan-gu, Seoul, will receive a temporary 50% rent reduction for three months from next month until June. The Shindonga Shopping Center houses small stores such as restaurants, marts, saunas, and offices.

Si Daebok, president of Shindonga Construction, said, "I wanted to give some support to small business owners suffering from the COVID-19 crisis," adding, "I hope the Good Landlord Movement spreads nationwide and becomes an opportunity to wisely overcome the COVID-19 situation." The company is also considering extending the rent reduction period by three months until September if the COVID-19 situation prolongs.

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