Yongin City Temporarily Reduces Traffic Inducement Charges by 30%

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City, Gyeonggi Province, announced on the 27th that it will temporarily reduce the traffic inducement charge by 30% this year to alleviate the difficulties faced by local small business owners due to the prolonged COVID-19 pandemic.

This measure aligns with the government's COVID-19 crisis recovery plan and is expected to help reduce the economic burden on local small business owners and self-employed individuals.

In this regard, Yongin City partially amended the 'Yongin City Traffic Inducement Charge Ordinance' last month, reflecting the difficult local economic situation caused by the COVID-19 crisis.

The amendment stipulates a uniform 30% reduction for all facilities subject to the charge this year.

Mayor Baek Gun-gi of Yongin said, "Due to the prolonged COVID-19 pandemic, small business owners and self-employed individuals, who are the backbone of the local economy, have suffered significant damage, so we decided to reduce the traffic inducement charge." He added, "We hope that the benefits of this measure will lead to rent reductions for small business owners and self-employed tenants, helping them overcome the crisis."

The traffic inducement charge is imposed in October after an on-site investigation of facility usage for all facility owners with a total floor area of 1,000㎡ or more.

This charge reduction will be applied uniformly by the city, so no separate application is required.

Last year, the city imposed 6.6 billion KRW in traffic inducement charges, and this year, it is expected that approximately 16 billion KRW in charge reductions will be provided to about 7,100 eligible facilities.

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