Gwanak-gu Supports Building Repairs and Disinfection for COVID-19 Good Landlords

495 Good Landlords in Gwanak-gu Reduce Rent for 667 Stores... Pursuing Win-Win for Landlords and Tenants... Applications by Mail or Visit to Gwanak-gu Office Regional Commercial Activation Division by May 29

[Asia Economy Reporter Jong-il Park] Gwanak-gu (Mayor Park Jun-hee) is promoting the ‘Seoul-type Good Landlord Support Project’ targeting good landlords who voluntarily reduced rent to share the economic difficulties of small business owners caused by COVID-19.

The purpose is to alleviate the difficulties of tenants facing livelihood hardships due to the local economic downturn and to provide incentives to landlords for rent reductions, thereby fostering an atmosphere that further spreads the good landlord movement within the region.

The support target is landlords who reduce rent for stores with a converted deposit of 900 million KRW or less in commercial buildings as stipulated by the Commercial Building Lease Protection Act.

The application period is until the 29th, and after landlords and tenants sign a win-win agreement, documents (win-win agreement and application form, tenant’s business registration certificate, etc.) can be submitted by mail or visit to the Gwanak-gu Office’s Local Commercial Activation Division.

Forms can be downloaded and completed from the Gwanak-gu Office website (News & Notices → Gwanak News), and the support recipients will be finalized through the review of the Gwanak-gu Local Subsidy Deliberation Committee.

The support includes subsidies for building repair costs such as waterproofing, windows, insulation, and restroom improvements to enhance durability, or providing electrical safety inspections. Applicants can choose either or apply for both, with costs capped at 5 million KRW within 30% of the total rent reduction amount.

Additionally, proportional to the win-win agreement period and reduction amount, regular disinfection of commercial buildings will be conducted, and commercial buildings with rent reduction win-win agreements will be promoted by being displayed on a mobile real estate application.

Gwanak-gu’s ‘Good Landlord Movement’ began on March 3 at Gwanak Sinsa Market to help market merchants who were having a difficult time as visitors stopped coming due to concerns about COVID-19 infection.

This initiative set an example, and at the representative large-scale store ‘Laboum Outlet (CEO Choi Seon-hyeok)’ located at Seoul National University Station, 427 landlords have joined the ‘Good Landlord Movement.’ Currently, about 495 landlords in Gwanak-gu are reducing rent for 667 stores.

Mayor Park Jun-hee said, “I deeply appreciate the great interest and participation in the ‘Good Landlord Movement’ for coexistence between tenants and landlords. It will be a great hope for small business owners to overcome difficulties and rise again. I hope landlords who meet the eligibility criteria will definitely apply for the ‘Seoul-type Good Landlord Support Project’ within the period.”

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