Assemblyman Yoon Jun-byeong: "Need to Consider Emergency Economic Measures to Reduce Rent"

The Biggest Burden for Small Business Owners Is Building Rent, Cannot Rely Solely on Good Rent
A Time When Landlords and Tenants Need a Cooperative Attitude to Share Pain

Assemblyman Yoon Jun-byeong (The Democratic Party of Korea, Jeongeup, Gochang)

[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil] Yoon Joon-byeong, a member of the National Assembly Budget and Accounts Special Committee (Democratic Party, Jeongeup·Gochang), proposed that “there is a need to actively consider the so-called ‘Rent Reduction Economic Emergency Measures’ to prevent the economic collapse of small business owners and micro-entrepreneurs.”

At the ‘4th COVID-19 Supplementary Budget Review’ comprehensive policy inquiry held on the 18th, Yoon said to Deputy Prime Minister for Economy Hong Nam-ki, “Most small business owners are tenants of buildings, and building rent is their biggest burden. Due to the COVID-19 economic crisis, they are in a serious situation where they cannot even pay monthly rent, let alone avoid losses on their deposits,” adding, “The ‘Good Landlord Movement’ with about a 10% rent reduction is insufficient to reduce tenants’ burdens, and we cannot rely solely on voluntary private initiatives indefinitely.”

He continued, “Article 76 of our Constitution states that ‘The President may take the minimum necessary fiscal and economic measures or issue orders with the force of law in the event of a serious fiscal or economic crisis,’” emphasizing, “It is time for the government to take the initiative, persuade the public to overcome the crisis together through coexistence, and actively consider policies such as the ‘Rent Reduction Economic Emergency Measures.’”

Finally, he said, “If the damages to small business owners and self-employed accumulate, it will lead to an economic collapse from which recovery is impossible, and this will become a crisis for building owners in the long term,” adding, “Landlords also need to adopt a cooperative attitude to share the pain of small business owners and the self-employed.”

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