Dongdaemun-gu Provides Up to 5 Million Won Support to 'Good Landlords'

Implementation of the 'Seoul-type Good Landlord Support Project'... Applications accepted until the 24th... Support for building repair costs or electrical safety inspection fees... Up to 30% of the rent reduction amount

[Asia Economy Reporter Jong-il Park] Dongdaemun-gu (Mayor You Deok-yeol) is promoting the ‘Seoul-type Good Landlord Support Project’ to help small business owners who are suffering from the dual hardships of decreased sales and rent burdens due to COVID-19.

The purpose is to support landlords who have participated in the ‘Good Rent Reduction Relay Campaign’ for coexistence with tenants despite difficult conditions, while encouraging more landlords to join.

The support items for this project are △ building repair costs △ electrical safety inspections (once a month), with support up to 30% of the total rent reduction amount, up to a maximum of 5 million KRW. It is also possible to apply for building repair costs and electrical safety inspections simultaneously. (Example: building repair costs 4.5 million KRW + electrical safety inspection 0.5 million KRW)

In addition, regular disinfection of commercial buildings (once a week) will be supported in proportion to the coexistence agreement period and reduction amount, and the buildings will be promoted by marking them as ‘2020 Seoul City Designated Good Landlord Buildings’ on mobile real estate applications (Naver Real Estate, Real Estate 114, etc.).

The support target is landlords who reduce rent for stores with a converted deposit (monthly rent × 100 + deposit) of 900 million KRW or less, as stipulated in the Commercial Building Lease Protection Act.

Landlords wishing to apply for support must sign a ‘Rent Reduction Coexistence Agreement’ with tenants and submit the application form by visiting the 6th floor Economic Promotion Division of Dongdaemun-gu Office in person or by mail by the 24th (Friday) of this month.

The application form can be downloaded from the ‘Good Landlord Support Project Application’ announcement posted on the Dongdaemun-gu Office website (www.ddm.go.kr) under notices.

The district plans to hold the ‘Good Rent Support Project Subsidy Review Committee’ at the end of this month to select support recipients among applicants.

For more details, please contact the Economic Promotion Division of Dongdaemun-gu Office.

You Deok-yeol, Mayor of Dongdaemun-gu, said, “I thank the landlords who are participating in the rent reduction relay for coexistence with tenants despite difficult conditions,” and added, “We will continue to prepare various support measures that can help both landlords and tenants.”

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