Suncheon City Signs 'Win-Win Agreement' with Building Owners in Station Area Urban Regeneration Project Zone

41 Stores Rent Reduced by 25~100% or Frozen

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do, announced on the 29th that it signed a win-win agreement with building owners and tenants within the Suncheon Station area urban regeneration activation project zone on the 28th to overcome the COVID-19 crisis and to prevent gentrification, a side effect of urban regeneration.

Through this win-win agreement involving building owners in the project zone, 41 stores currently renting or planning to rent buildings in the Suncheon Station area will reduce or freeze their rents by 25% to 100%, easing the burden on small business owners and contributing to the revitalization of the local commercial district.

Lee Dong-hyun, president of the Yeokjeon Market Merchants Association and representative of the landlords who attended the agreement ceremony, said, "Everyone is struggling, but I stood here to share even a little of the tenants' difficulties," adding, "I hope this win-win agreement will be a small help in revitalizing the Suncheon Station area commercial district."

Heo Seok, mayor of Suncheon City, said, "Our city has been swiftly implementing Suncheon-style policies such as the nation's first emergency living stabilization fund support, private-led rights movement, and public utility fee support for small business owners to overcome COVID-19," and added, "This will become a model case for sustainable urban development, and I hope it will expand into a citizen movement in the future."

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