Assemblyman Min Hyung-bae Proposes the 'Good Rent Promotion Act'

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Representative Min Hyung-bae (The Democratic Party of Korea·Gwangju Gwangsan-eul) has proposed the "Amendment to the Commercial Building Lease Protection Act to Facilitate Rent Reduction for Tenants by Landlords in Case of Infectious Disease and Disaster Occurrence."

The amendment stipulates that when a disaster under the Framework Act on Disaster and Safety or a first-class infectious disease under the Infectious Disease Control and Prevention Act occurs, tenants can request rent reduction from landlords, and unless there are special reasons prescribed by Presidential Decree, landlords cannot refuse the tenant's request. (Newly established Article 11, Paragraph 3)

Additionally, when rent is temporarily reduced due to disaster or infectious disease occurrence and then increased again, the rent increase must comply with the 5% rent ceiling rule based on the rent before the reduction. (Newly established Article 11, Paragraph 4)

Representative Min said, "Small business owners suffered significant economic damage due to the COVID-19 crisis, and since such disasters and infectious disease outbreaks can recur without warning, measures are necessary," adding, "Through this amendment, we expect the economic difficulties of tenants to be alleviated and the number of landlords participating in 'good landlord' practices to increase."

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