Changwon City Encourages 'Good Landlords' Sharing Difficulties with Small Business Owners

Cho Young-jin, Changwon Deputy Mayor 1, is visiting and encouraging the merchants of Gaeumjeong shopping district on the 8th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] Changwon City, Gyeongnam Province, announced that on the 8th, First Deputy Mayor Jo Young-jin visited the Daesangga area in Gaeumjeong, Seongsan-gu, to express gratitude to merchants struggling due to the novel coronavirus disease (COVID-19) and landlords who share the spirit of the 'Good Rent Movement.'

On that day, Deputy Mayor Jo actively promoted the tax support measures prepared by the city for landlords participating in the Good Rent Movement. The city deducts 50% of the rent reduction amount from the landlord's income tax or corporate tax and reduces property tax by up to 50% in July this year according to the rent reduction rate.

Currently, in the Changwon area, 541 landlords across 54 commercial districts are reducing rents by about 30% for up to three months for tenants. Landlords who wish to share the difficulties of small business tenants can participate by June 1.

Deputy Mayor Jo said, "Landlords participating in the Good Rent Movement are also enduring difficult times due to COVID-19, but I am deeply grateful that they are joining with the heart of sharing the tenants' pain. I hope the tax support measures prepared by Changwon City will provide some strength to both landlords and tenants."

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