13 Technoparks, 1,466 Tenant Companies Receive 20-50% Rent Reduction

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 29th that from this month, 13 technoparks will temporarily reduce rent by 20-50% for 1,466 resident companies over an average period of three months.

This rent reduction was prepared to alleviate the management difficulties of small and medium-sized enterprises (SMEs) affected by the novel coronavirus infection (COVID-19).

Technoparks were established in 1997 to foster regional SMEs, and currently, 19 technoparks operate nationwide. Among them, 13 technoparks are participating in the 'Good Rent Movement' by reducing rent this time.

On average, about 110 companies per technopark, totaling 2,100 companies, are residing. It is expected that about 70% of resident companies will benefit from this rent reduction.

An official from the Ministry of SMEs and Startups said, "We express our gratitude to the technoparks that voluntarily participated in the rent reduction this time," adding, "We will encourage more technoparks to participate in the future and will not hesitate to provide policy support to technoparks that participate in rent reduction."

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