Gyeonggi Province Public Institutions Join the 'Good Rent Movement' One After Another

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Public institutions under Gyeonggi Province are successively joining the 'Good Landlord Movement' to help small business owners and self-employed individuals struggling due to the COVID-19 pandemic.

Gyeonggi Province announced on the 1st that it plans to hold a Shared Property Deliberation Committee meeting this month to promote rent reductions for facilities owned by Gyeonggi Province, including the Gyeonggi Cultural Foundation, Gyeonggi Suwon World Cup Stadium Management Foundation, Gyeonggi Economic Science Promotion Agency, Gyeonggi Pyeongtaek Port Corporation, and Gyeonggi Sports Council.

The Gyeonggi Tourism Organization is reviewing measures to reduce or defer rent for tenants such as cafes, restaurants, and souvenir shops due to a sharp decline in visitors to Imjingak in Paju compared to the previous year.

The province operates a total of 27 public institutions under its jurisdiction.

Earlier, KINTEX has been exempting basic management fees for three months from last month to this month for 32 food and retail facility tenants. Additionally, for 34 small and medium-sized enterprises occupying office facilities, 20% of rent for March and April was reduced, and 30% of the rent was deferred for payment in installments over six months.

Along with this, KINTEX purchased 70 million won worth of lunchboxes from tenant businesses to support vulnerable local groups and social welfare facilities.

The Gyeonggi Urban Innovation Corporation also decided to reduce rent by 30% for about 50 leased stores, and the Korea Ceramic Foundation will reduce rent by 35% for two tenant stores.

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