Seongbuk-gu Supports Fair Rent & Reduces Public Property Usage Fees by up to 50%

Leading Role in Promoting the Good Landlord Movement... Supporting Small Businesses Struggling Due to COVID-19, Expecting Up to 86 Million KRW Rent Reduction Across 24 Facilities

Seung-ro Lee, Mayor of Seongbuk-gu, is supporting the Good Rent Movement in response to COVID-19. (March 5, 2020, Office of the Mayor of Seongbuk-gu)

[Asia Economy Reporter Jongil Park] Seongbuk-gu (Mayor Lee Seung-ro) has decided to reduce the rent of district-owned public property by up to 50% to revive the local economy weakened by COVID-19 and to promote the Good Landlord Movement.

This rent reduction policy is a follow-up support measure in accordance with the amendment of the "Enforcement Decree of the Act on the Management of Public Property and Goods," which was promulgated on March 31.

The support targets 24 facilities out of 86 leased facilities owned by Seongbuk-gu, excluding those already receiving rent reductions and facilities unsuitable for small business owners. After deliberation by the Public Property Deliberation Committee on the 10th, it was finalized to reduce the rent by 50% for six months (February to July).

It is expected that small business owners residing in these 24 facilities will receive a total rent reduction benefit of 86 million KRW.

Additionally, the district announced that if tenants can prove damage in the future and apply for additional support, it will be provided after review by the Public Property Deliberation Committee, and if the COVID-19 situation prolongs, the support period will be extended.

Lee Seung-ro, Mayor of Seongbuk-gu, stated, "Considering the seriousness of the COVID-19 situation, we are actively supporting various measures such as rent reductions, small business employment retention subsidies, and small business funds to help small business owners overcome difficulties and restore livelihoods."

The district is also supporting landlords who provide reasonable rent to small business owners struggling due to the spread of COVID-19 by assisting with building maintenance costs and other expenses.

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