Gwangsan-gu, Gwangju Extends Rental Fee Reduction Period for Public Property

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangsan-gu, Gwangju Metropolitan City (District Mayor Kim Samho) announced on the 26th that it will extend the rental fee reduction period for the 2nd round of shared property usage fees and lease fees through the resolution of the Shared Property Deliberation Committee to support small business owners struggling due to the prolonged COVID-19 crisis.

This rental fee reduction follows the 1st round of reductions implemented from February to July this year.

Gwangsan-gu applied a reduction in the rental rate from 5% to 1% in the first half of this year, providing small business owners with a benefit of 170 million KRW.

The 2nd round of reductions extends the period from August to December to support small business owners affected by social distancing measures.

Gwangsan-gu expects to provide a total benefit of 350 million KRW to small business owners when combined with the 1st round of reductions.

Additionally, for small business owners who could not use shared property due to closure orders, the district plans to implement realistic reduction policies such as extending the lease period and full refunds of rental fees.

A Gwangsan-gu official stated, “We have established support plans to alleviate the damage caused by COVID-19, and we hope this measure will bring hope to small business owners.”

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