Chosun University Reduces Rent by 50% for On-Campus Stores for 4 Months

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Chosun University (President Min Youngdon) announced on the 18th that it will reduce rent to alleviate the difficulties faced by small business stores on campus due to the COVID-19 pandemic.

As most lectures were conducted online to prevent the spread of COVID-19, the number of students attending campus decreased significantly, causing a sharp decline in income for small business rental stores on campus.

In response, Chosun University recently decided to reduce rent through the Planning Committee to share the burden of the rental stores' difficulties.

The rent reduction applies to stores on campus such as shoe repair shops, hygiene product vending machines, unmanned laundries, copy shops, convenience stores, restaurants, cafes, photo studios, and lockers. The reduction period and rate are 50% of the existing rent for four months from March to June.

President Min Youngdon stated, “Chosun University, the first private university in Korea, will overcome the difficulties caused by COVID-19 together with small business owners and grow together.”

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