55 Buildings and 382 Stores in Jungnang-gu Participate in Rent Reduction Campaign

Applications for the Good Landlord Support Program Open Until the 29th... Support for Building Repairs, Electrical Safety Inspections, Disinfection, and Real Estate Application Promotion

Ryu Kyung-gi, Mayor of Jungnang-gu, participated in the Good Rent Relay Campaign.

[Asia Economy Reporter Park Jong-il] The Good Landlord Movement, which began alongside COVID-19, has become a great support for struggling small business owners in Jungnang-gu (Mayor Ryu Gyeong-gi).

So far, rent reductions have been made for 55 buildings and 382 stores, bringing smiles to the faces of self-employed tenants who were having a hard time.

In Sangbong 2-dong, one landlord reduced rent for a total of 63 stores. The reduced rent covers six months from March to August, amounting to a total of 96 million KRW, which added to the surprise.

The landlord explained the reason for participating in the Good Landlord Movement, saying, "Although it was a considerable financial hit, it was more difficult to ignore neighbors who were struggling."

There are also places where the entire rent was waived. A building located in Myeonmok 3·8-dong fully waived 15 million KRW of rent for three months for a chicken restaurant tenant. The landlord said, "As fewer people are dining out due to COVID-19, I wanted to ease the heavy burden of rent."

Meanwhile, the starting point of the Jungnang-gu Good Landlord Movement was Woorim Market, which began rent reductions in February. Starting with one landlord, rent was reduced for a total of 60 stores, and tenants showed their gratitude by posting large notices.

Woorim Market landlords said, "Traditional markets are the most vulnerable places when the local economy is struggling," and added, "We hope this rent reduction has helped merchants who have faced difficulties, even if just a little."

In addition, the number of stores voluntarily participating in the Good Landlord Movement is increasing across Jungnang-gu, including 54 locations in Myeonmok 2-dong, 43 in Myeonmok 7-dong, 37 in Muk 1-dong, and 9 in Junghwa 2-dong.

The district office has decided to recruit applicants for the 'Seoul-type Good Landlord Support Project' until the 29th to further strengthen the spreading Good Landlord Movement throughout the region.

The support target is stores with a converted deposit of 900 million KRW or less in commercial buildings as stipulated by the Commercial Building Lease Protection Act. Applicants can visit or mail the Jungnang-gu Office Enterprise Support Division with required documents such as a coexistence agreement for rent reduction.

Selected good landlords can receive support for building repairs or electrical safety inspections, up to 30% of the total rent reduction amount, with a maximum limit of 5 million KRW.

Also, disinfection support will be provided for all buildings of the applying good landlords, and these buildings will be promoted through real estate applications as Good Landlord buildings.

Ryu Gyeong-gi, Mayor of Jungnang-gu, said, "We hope landlords who participated in the rent reduction will apply for the Good Landlord Support Project within the period," and added, "Jungnang-gu will continue to make efforts to protect local commercial districts and revitalize the stagnant local economy."

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