Daejeon City Shares Burden with Small Businesses by Reducing Rental Fees for Public Property

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will share the burden with small business owners by reducing rental fees for public property.

The city announced on the 7th that it will provide additional (second round) support for rental fees of public property to alleviate the economic difficulties of local small business owners caused by the prolonged COVID-19 pandemic and to revitalize the local economy.

The reduction measure will be applied retroactively from August to the end of this month, and eligible small business owners will uniformly receive a 50% rate on usage and lease fees. Through this, the city expects to provide rental fee reduction benefits worth approximately 2.7 billion KRW to 1,516 small business owners.

This is the second such measure this year. Previously, from February to July, the city supported (reduced) rental fees for public property worth about 3.36 billion KRW for 1,516 small business owners.

The upcoming additional support was decided because the economic damage to small business owners due to the prolonged COVID-19 pandemic is significant, and the city decided to share part of the burden.

Heo Tae-jeong, Mayor of Daejeon City, said, “We will strive to support small business owners who are suffering increasing economic damage due to the prolonged COVID-19 pandemic.”

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