Additional Recruitment for Dongdaemun-gu 'Good Landlord Support Project'

Applications accepted until the 29th, temporary rent reduction to share the burden of small business owners... mutual support for landlords and tenants... support for building maintenance or electrical safety inspection costs... rent reduction amount within 30%, up to 5 million won

Yoo Deok-yeol, the mayor of Dongdaemun District, launched a campaign supporting the Good Rent Movement through the social networking service (SNS) Facebook last March.

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) is sharing the difficulties of small business owners caused by COVID-19 and supporting coexistence and cooperation between landlords and tenants by additionally recruiting participants for the Seoul-type Good Landlord Support Project until September 29.

A "Good Landlord" refers to a landlord who temporarily reduces rent to ease the double burden of decreased sales and rent expenses faced by small business owners due to COVID-19.

The Seoul-type Good Landlord Support Project provides support for building repair costs such as waterproofing, insulation, and window replacement, or monthly electrical safety inspection fees up to 30% of the rent reduction amount, with a maximum of 5 million KRW. If desired, good landlords can receive monthly disinfection support and promote their buildings through real estate apps.

The application target for the Seoul-type Good Landlord Support Project is landlords who have reduced rent for stores of small business types with a converted deposit of 900 million KRW or less in commercial buildings as defined by the "Commercial Building Lease Protection Act."

Landlords wishing to apply for the Seoul-type Good Landlord Support Project must fill out the application form provided on the Dongdaemun-gu Office website under ‘Hope Dongdaemun → Notice Board → Public Announcements’ by the 29th, and submit it along with a business registration certificate, commercial lease contract, and proof of rent reduction (bank transaction statements) either by visiting the Dongdaemun-gu Office Economic Promotion Division or by mail.

Yoo Deok-yeol, Mayor of Dongdaemun-gu, stated, “We thank all landlords who participate in the Good Rent Movement, and we hope that this support project will help spread a cooperative atmosphere between landlords and tenants and provide practical assistance in overcoming the COVID-19 crisis.”

Since March to May, the district has also helped reduce the rent burden for a total of about 960 stores by voluntarily participating landlords in markets including Gyeongdong Market (748 stores), Dongseo Market (55 stores), Dongbu Market (29 stores), and seven other markets, reducing store rents by about 20-30% for three months.

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