COEX to Refund 60% of Cancellation Fees for Exhibitions Canceled Due to COVID-19 and Freeze Rent for Next Year

Exhibition Hall Rent Frozen Next Year
20% Discount on Exhibition Hall Rent Until End of July & Waiver of Penalties for Exhibition Reduction

[Asia Economy Reporter Kim Hyewon] COEX has decided to refund 60% of the rental penalty fees for exhibitions affected by the novel coronavirus infection (COVID-19). Additionally, it plans to freeze next year's rental fees and further discount rental fees to facilitate the early normalization of the exhibition industry.

On the 6th, COEX announced the "Early Recovery Win-Win Plan for the Exhibition Industry," expressing its commitment to overcoming the crisis in the exhibition industry caused by COVID-19 through coexistence and cooperation, and fulfilling corporate social responsibility.

The win-win plan, prepared through prior consultations with exhibition organizers and industry stakeholders, mainly includes ▲60% refund of rental penalty fees ▲freezing of next year's rental fees ▲additional rental discounts to promote early normalization of the exhibition industry.

In response to the spread of COVID-19, COEX will refund 60% of the rental penalty fees for 39 exhibitions canceled until May. Furthermore, it plans to provide additional benefits such as a 20% discount on exhibition hall rental fees until the end of July and exemption from penalty fees due to exhibition downsizing. Next year's exhibition hall rental fees will be frozen.

Lee Dongwon, President of COEX, said, "Taking this win-win plan as an opportunity, we will do our best to help the exhibition industry quickly normalize and serve as a catalyst for the recovery of the stagnant national economy."

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