Korea Housing Builders Association Joins 'Good Landlord Movement'... Commercial Rent Reduced by 50%

[Asia Economy Reporter Je Moon-won] The Korea Housing Construction Association announced on the 20th that it will join the 'Good Landlord Movement' to support small business owners struggling due to the spread of the novel coronavirus infection (COVID-19).

The association will reduce the rent of the commercial spaces in the Housing Construction Hall in Yeouido, Seoul, which it owns, by 50% for three months from March to May to share the pain of commercial tenants who have suffered significant damage to their livelihoods.

Park Jae-hong, the president of the association, said, "We decided to reduce the rent to share the pain with the commercial tenants of the Housing Construction Hall who are experiencing difficulties that are hard to bear due to COVID-19," adding, "Although these are difficult times for everyone, we hope this rent reduction will provide some comfort and support to the commercial tenants."

The Korea Housing Construction Association is an organization with over 7,700 housing construction companies nationwide as members. It is responsible for government-authorized delegated tasks and also carries out social contribution activities such as improving housing conditions for national merit recipients and donating funds for COVID-19 relief.

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