Dobong-gu, 50% Rent Reduction on Public Property Leases for One Year

Up to 223 Million KRW Discount Benefits for Lease Facilities of 17 Public Properties

[Asia Economy Reporter Jongil Park] Dobong-gu (Mayor Dongjin Lee) will reduce the rent of public property leased to small business owners by up to 50% for one year to support those suffering economic damage due to the COVID-19 pandemic.

Following the recent revision of the government-level "Enforcement Decree of the Act on the Management of Public Property and Goods," which provides grounds for rent reduction for small business owners leasing public property, the district finalized a plan on the 13th to reduce the rent of public property leased to small business owners by up to 50% for one year through the Public Property Deliberation Committee. The reduction period is from February this year to January 2021.

The support targets small business owners who lease public property and operate businesses or revenue-generating activities, including 17 locations such as stores and cafes within district cultural and sports facilities and leased land for rest area restaurants.

To provide prompt support following this public property rent reduction, the individual public property management departments will send individual notices to eligible recipients.

Upon submission of an application form by the lessee according to the notice, the district will comprehensively review the damage situation, including sales decline due to COVID-19, and either refund rent already paid or deduct rent to be paid.

Additionally, if business operations were suspended due to the closure of district-owned buildings, the lease period will be extended by the corresponding period, or a pro-rata calculation will be made for a full refund.

The district expects that this measure will provide rent reduction benefits totaling up to 223 million KRW across 17 public property rental facilities.

Mayor Dongjin Lee of Dobong-gu stated, "We hope this rent reduction will provide some relief to small business owners leasing public property who have been affected by COVID-19, and we will continue to do our best to help the local economy recover."

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