The Teachers' Mutual Aid Association Extends Rent Reduction Period Until August

[Asia Economy Reporter Park Ji-hwan] The-K Korea Teachers' Credit Union announced on the 19th that it will extend the rent reduction period for The-K Tower and the union-owned halls until August to participate in the government's domestic demand stimulus policy amid the prolonged COVID-19 pandemic and to support small business owners facing management difficulties.

The union explained that this rent reduction will primarily support small tenants who have been directly affected by COVID-19. A total of 26 tenants, including 4 in The-K Tower and 22 in regional halls, will receive the same rent discount for an additional three months.

Since March, the union has reduced rents by 20-30% for three months for 35 neighborhood living facility tenants and small business tenants located in The-K Tower and eight halls (Busan, Daegu, Incheon, Gwangju, Daejeon, Chungbuk, Gyeongnam, Jeonbuk halls).

Lee Jin-seok, Acting Chairman of the Teachers' Credit Union, said, "We decided to extend the rent reduction period to share the pain with tenant companies going through difficult times due to the prolonged COVID-19 pandemic," adding, "As a national enterprise, we will continue to actively participate in spreading a warm community culture throughout society and realize social value."

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