Korea Standard Association Offers 70% Rent Reduction for 6 Months to Resident Companies

[Asia Economy Reporter Hwang Junho] The Korea Research Institute of Standards and Science (KRISS) announced on the 2nd that it is implementing various policies to overcome the economic impact of the novel coronavirus infection (COVID-19), including offering a 50% discount on calibration and testing service fees for small and medium-sized enterprises (SMEs) for three months from this month until the end of June.

In addition to the fee discount, KRISS has been reducing the monthly rent by 70% for six tenant companies within its premises since last month. KRISS plans to extend this reduction every three months depending on the economic situation even after the initial six-month discount period. It is also promoting a 50% reduction in the corporate burden for SMEs participating in on-site technical problem-solving projects.

To strengthen the capabilities of SME personnel currently in cooperation, KRISS transfers research technology and supports part of the labor costs of SMEs using KRISS funds.

Director Park Hyun-min stated, "We hope this will be of some help to SMEs struggling in this crisis," and added, "We plan to continue implementing multifaceted solutions to participate in the government-wide efforts to overcome COVID-19."

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