Launch of the 'Dongdaemun-gu Good Rent Reduction Movement Promotion Committee'

First Meeting Held on the 19th at District Office Planning Situation Room... 17 Representatives from Academia and Civic Groups Participate

On the 19th, after the first meeting of the 'Dongdaemun-gu Good Rent Reduction Movement Promotion Committee' held in the Planning Situation Room on the 5th floor of the district office, the attendees shouted slogans wishing for the successful promotion of the 'Good Rent Reduction Movement'.

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) announced the launch of the ‘Dongdaemun-gu Good Rent Reduction Movement Promotion Committee’ to support the recovery of the local economy, which has been weakened due to the spread of COVID-19.

The ‘Dongdaemun-gu Good Rent Reduction Movement Promotion Committee’ is a privately-led committee consisting of 17 members, including representatives from academia, the Chamber of Commerce, small business associations, business representative organizations, and professional groups in the area. Professor Jeong Byeong-ho of the Department of Law at the University of Seoul serves as the chairman.

The committee held its first meeting on the 19th at 3 p.m. in the Planning Situation Room on the 5th floor of the district office to discuss plans for promoting the movement.

Mayor Yoo Deok-yeol of Dongdaemun-gu also attended the meeting. Based on the discussions, the committee plans to send an appeal letter under its name to building owners, requesting their participation in the ‘Good Rent Movement.’ They also plan to strengthen publicity through various human and material networks to increase participation in the movement.

Mayor Yoo Deok-yeol stated, “I thank the members of the ‘Good Rent Reduction Promotion Committee’ who have taken the lead to help recover the local economy. The district office will also spare no administrative support to revitalize the weakened local economy.”

Traditional markets in Dongdaemun-gu are joining the ‘Good Rent Reduction Movement’ one after another. Gyeongdong Market has reduced rent by a total of about 270 million KRW over three months for 748 tenant stores, and Dongseo Market has reduced rent by a total of 66 million KRW over three months for 55 tenant stores. By taking the lead in coexistence between landlords and tenants, voluntary rent reductions are spreading throughout traditional markets and local shopping districts.

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