Gwangju Dong-gu's 'Dong-gu Type Win-Win Cooperation Shopping District Support Project' 추진

Up to 10 Million Won Support for Commercial Building Owners

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Dong-gu, Gwangju Metropolitan City (Mayor Im Taek) announced on the 9th that it will promote the ‘Dong-gu Type Win-Win Cooperation Store Support Project’ to prevent ‘dungjinaemollim (gentrification).’

This project provides remodeling costs of up to 10 million KRW to store building owners so that tenants can operate their businesses with peace of mind without worrying about rent increases for more than 10 years.

The support targets store building owners located in Dong-gu, who have tenants operating as of the recruitment announcement date and have promised to limit rent increases within the statutory rate for more than 10 years with the tenants.

Building owners can use the supported remodeling costs for construction that enhances the durability of the building, such as waterproofing, insulation, painting, windows, and boiler work, excluding simple interior renovation costs that only repair the inside of the store.

Dong-gu plans to select recipients and sign agreements after the recruitment announcement within this month.

Building owners who wish to apply should fill out documents such as the application form and win-win cooperation agreement and submit them in person or by mail to the Urban Regeneration Division by the 7th of next month.

Im Taek, Mayor of Dong-gu, said, “At a time when small business owners are facing more difficulties than ever due to the stagnation of alley markets caused by COVID-19, we hope many landlords in the district will participate in this project for the win-win development of building owners and tenants,” and added, “We expect the local economy to be revitalized through institutional measures that can prevent tenants’ dungjinaemollim.”

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