50% Rent Discount for Tenants at Gyeonggi Venture Startup Center

[Asia Economy (Uijeongbu) = Reporter Lee Young-gyu] Gyeonggi Province will provide a 50% discount on rent to companies residing in the Gyeonggi Venture Startup Support Centers that are struggling due to the spread of the novel coronavirus infection (COVID-19).

The support targets approximately 130 companies residing in 16 Gyeonggi Venture Startup Support Centers in the Gyeonggi area. Each company will receive an average rent discount of about 1.5 million KRW.

As a result of a survey conducted by Gyeonggi Province on the damage caused by COVID-19 to all resident companies, it was found that each company suffered an average loss of 65 million KRW.

Additionally, when assessing the demand for COVID-19 recovery support policies, rent support accounted for the highest at 57%, leading to the decision to provide rent discounts.

Park Sang-deok, head of the Startup Support Division of the province, stated, "As small and venture companies are expressing difficulties due to the spread of COVID-19, we are seeking various support measures that provide practical help. We expect this rent support to serve as a catalyst for the recovery of the local economy."

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