'Good Landlord Movement' Sees Participation of 3,622 Landlords... 30,000 Beneficiary Tenants
Encouraging Establishment of Sustainable Culture in the Second Half of the Year
[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun, hereinafter referred to as the Ministry) announced on the 14th that as of now, four months after the 'Good Landlord Movement' started on February 12 in Jeonju Hanok Village, 3,622 landlords in 536 traditional markets, shopping districts, and individual stores nationwide have reduced or frozen rent for 30,634 stores.
Including landlords who have not disclosed rent reductions, it is expected that more landlords have participated in the 'Good Landlord Movement' than identified. Accordingly, the government plans to lead participation so that the Good Landlord Movement continues not only in the first half of this year but also becomes a sustainable culture in the second half, and to support voluntary participation from the private sector.
First, the Ministry plans to prioritize allocating 50% of the project funds for old electrical wiring maintenance and fire alarm facilities in traditional markets and shopping districts to those with many stores that have reduced rent in 2021. Additionally, extra points will be given when selecting market and shopping district support projects such as parking lot construction and market management vouchers. Furthermore, when large corporations reduce rent on their owned properties in relation to the novel coronavirus disease (COVID-19), this will be reflected in the win-win growth index evaluation to encourage voluntary participation from the private sector.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Moreover, public institutions will also support tenants struggling due to COVID-19 by reducing rent on owned properties by about 50% and extending the period until the end of the year. Kwon Dae-su, Director of the Small Business Policy Division at the Ministry, stated, "The Good Landlord Movement is a representative example of private sector coexistence during the difficult times of COVID-19," and added, "We will strive to establish the Good Landlord Movement as a sustainable culture."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
