Kamco Implements Additional Measures to Further Ease Usage Fees for State-Owned Properties Supporting COVID-19 Recovery
Applications for Payment Deferral and Reduction of Late Interest Rates Accepted from the 3rd
[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) began accepting applications for reductions starting from the 3rd to ease the burden of using state-owned property.
This measure is a follow-up to the "Additional Measures to Ease the Burden of Using State-Owned Property in Response to COVID-19" announced by the government at the 6th Central Emergency Economic Countermeasures Headquarters. KAMCO plans to actively support users of state-owned property by expanding the scope and range of support.
The reduction of state-owned property usage fees will be expanded from small business owners to small and medium-sized enterprises (SMEs). From August until the end of this year, SMEs will receive a 40% reduction on usage fees for state-owned property directly used for business operations (previously 5% → 3%, up to 20 million KRW). Additionally, for usage fees due or billed by the end of this year, payment deadlines will be temporarily deferred for an initial 3 months, up to a maximum of 6 months. Regardless of the overdue period, the delinquency interest rate will be reduced from the existing 7% ~ 10% to 5%. The reduction in delinquency interest rates will be applied uniformly without a separate application.
KAMCO will accept applications from the 3rd at 12 regional headquarters nationwide and plans to actively promote the support measures through sending notification messages (texts) and distributing informational posters so that more users of state-owned property can benefit.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- "Target Price Set at 970,000 Won"... Top Investors Already Watching, Only an 'Uptrend' Remains [Weekend Money]
Hong Young, Head of KAMCO’s State-Owned Property Division, said, “Since this measure broadly applies to the target and scope of support, we expect it to provide practical help to both small business owners and SMEs facing management difficulties due to COVID-19.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
