Mokpo City Reduces Rental Fees for Public Property by 50% for Small Business Owners Affected by COVID-19

50% Reduction in Public Property Usage Fees for 6 Months, 100% Exemption During Business Suspension

Exterior view of Mokpo City Hall (Photo by Mokpo City)

[Asia Economy Honam Reporting Headquarters Reporter Park Ki-dong] Mokpo City, Jeollanam-do announced on the 13th that it will reduce rent by 50% for 6 months to alleviate the economic burden on small business owners renting city-owned properties who are struggling due to COVID-19.

The city prepared the "City-Owned Property Users and Lessees COVID-19 Damage Support Plan" to assist small business owners renting city-owned properties affected by the prolonged COVID-19 pandemic, and finalized it after review by the Public Property Deliberation Committee.

The main support details include a 100% rent reduction for the period when business premises were closed due to COVID-19 related suspensions and the shared property was not used, and a 50% rent reduction for the period from February to July (6 months) if the property was used.

Additionally, the city will retroactively apply the 50% reduction for 6 months starting from February 1, the beginning of the month when the disaster crisis alert was raised to the "Severe" level. Rent already paid for the reduction period can be refunded upon application, with a lump-sum refund scheduled for August. Newly charged rent during the reduction period will be billed with the discount applied.

A Mokpo City official stated, "The small business owners benefiting from this city-owned property rent reduction include 144 stores in Shin Jungang Market and 17 buildings such as commercial establishments in Yudalsan Recreation Area, with a total rent reduction amounting to 74 million KRW."

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