Seongjanghyeon, Yongsangu District Mayor, Supports Kind Landlord Challenge

On the 24th, District Mayor Sends Support Messages via SNS... Itaewon Tourism Special Zone Association, Shindong-A Construction Lead the Movement

[Asia Economy Reporter Park Jong-il] Seong Jang-hyun, Mayor of Yongsan-gu, joined the 'Good Landlord Support Challenge' through social networking services (SNS) on the 24th.

On this day, Mayor Seong said, "We support all the good landlords," adding, "There is no winter that can overcome spring. Let us be a warm spring to each other and overcome this period well."

The video can be viewed on the mayor’s Facebook and YouTube channels.

The district is conducting the Good Landlord Movement to revive the local economy, which has been depressed due to COVID-19.

Previously, the district sent official letters encouraging participation in the movement to the Chamber of Commerce, Building Owners Association, Itaewon Tourism Special Zone Association, and Electronics Market Association. Additionally, district officials are visiting sites directly to hold meetings with building owners and management offices.

The Itaewon Building Owners Association (Chairman Lee Beom-woo), Itaewon 1-dong Residents’ Autonomy Committee (Chairman Maeng Ki-hoon), and Itaewon Tourism Special Zone Association (Chairman Jo Min-sung) jointly distributed notices to building owners in the Itaewon shopping district encouraging rent reduction participation.

It is reported that 30 building owners expressed their intention to participate. The district is encouraging participation by hanging banners around Itaewon that read, “Classy Itaewon Building Owners! Thank you for joining the Good Landlord Movement.”

Shindonga Construction also contributed. They decided to exempt 50% of rent for three months for about 50 stores in the Shindonga Shopping Center. If the situation prolongs, they are considering extending the rent reduction period by another three months until September.

The government has decided that for small business owners with fewer than five regular employees (fewer than 10 in manufacturing, construction, mining, and transportation) who reduce rent in the first half of this year, 50% of the reduced amount will be credited against the landlord’s income and corporate taxes.

Traditional markets where more than 20% of stores reduce rent will receive additional incentives such as old wiring maintenance and sprinkler installation.

Seong Jang-hyun, Mayor of Yongsan-gu, said, “Small business owners are facing many difficulties,” and added, “We will continue the Good Landlord Movement to overcome the COVID-19 crisis as soon as possible.”

Besides the rent reduction campaign, the district plans to overcome the local economic downturn by utilizing all methods including ▲ operating a bidding information system ▲ improving private contract methods ▲ prioritizing purchases of small and medium enterprise products ▲ providing loans to SMEs, small business owners, and youth enterprises ▲ and expanding public work projects.

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