Gyeonggi-do Supports 60% of Rent for Senior Job Market-Type Business Groups

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will support the rental fees of workplaces for senior job market-type business groups whose business conditions have deteriorated due to business suspension and sales decline caused by COVID-19.

Senior job market-type business groups are businesses where seniors with working ability jointly operate stores or participate in the manufacturing and sales of food and industrial products, renting workplaces either free of charge or for a fee.

Among all market-type business groups, 39 groups use workplaces for a fee, with an average monthly rent of 800,000 KRW.

The average monthly sales of these 39 business groups decreased by nearly half, from 6,452,137 KRW in January this year to 3,444,920 KRW in April 2020. Compared to the average sales in April of the previous year, sales also dropped by 40%.

Accordingly, the province decided to use a budget of 60 million KRW from the Gyeonggi Senior Job Support Center to support up to 60% of the monthly rent for three months from this month to August for the 39 market-type business groups.

The province plans to continuously identify difficulties faced by executing organizations through regular meetings and prepare support measures reflecting these issues to overcome the crisis in senior job projects caused by COVID-19.

Cho Tae-hoon, head of the Senior Welfare Division of the province, explained, "Due to the prolonged COVID-19 situation, not only the seniors participating in senior jobs but also the executing organizations operating the business groups are experiencing great difficulties, which led to the preparation of this measure." He added, "We hope this support will serve as a driving force for the business groups to overcome the COVID-19 situation, even if only a little."

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