Gwangju Dong-gu Holds Plaque Ceremony for 'Dong-gu Type Win-Win Cooperation Shopping District'

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Dong-gu, Gwangju Metropolitan City (Mayor Im Taek) announced on the 16th that it selected the Dongmyeong-dong Win-Win Cooperation Shopping District and held a plaque ceremony for the ‘2020 Dong-gu Type Win-Win Cooperation Shopping District’ attended by about 20 people including landlords, tenants, and executives of the Dongmyeong Community Win-Win Cooperation Council.

This plaque ceremony was held to lead the good rent reduction campaign to overcome COVID-19, to give symbolism to the Win-Win Cooperation Shopping District to spread the win-win atmosphere, to boost landlords’ pride, and to expand public consensus, deciding to attach a win-win plaque that landlords and tenants can pursue together.

Earlier, in June last year, Dong-gu enacted an ordinance on local commercial district win-win cooperation and signed a win-win agreement involving 109 landlords and tenants in Dongmyeong-dong to induce landlords’ participation in gentrification (displacement) areas.

On September 28th, three ‘Dong-gu Type Win-Win Cooperation Shopping Districts (hereinafter Win-Win Cooperation Shopping Districts)’ were selected and actively promoted so that tenants could operate with peace of mind without worrying about rent increases.

The Dong-gu Type Win-Win Cooperation Shopping District is a project newly introduced in Gwangju this year, aimed at creating shopping districts where tenants can operate with peace of mind without worrying about rent increases.

For tenants, rent increases are limited to 5% annually for over 10 years, and building owners who sign win-win cooperation agreements with tenants receive up to 10 million KRW in remodeling costs. Through this project, three building owners and seven tenants signed win-win agreements, enabling them to operate with peace of mind for 10 years.

Dong-gu plans to conduct annual compliance inspections for the established shopping districts and take recovery measures according to relevant procedures if violations such as non-compliance with the win-win agreement are found. It also plans to continue promoting the creation of Win-Win Cooperation Shopping Districts next year.

Mayor Im Taek of Dong-gu said, “As COVID-19 prolongs, landlords and tenants need strength and wisdom to overcome difficult times together,” adding, “We will continue to promote policies to create a healthy alley commercial culture, such as expanding win-win agreements to proactively respond to gentrification.”

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