Hong Nam-ki "Reviewing Measures to Reduce Rent Burden for Small Business Owners... Will Announce at an Appropriate Time"

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced on the 17th that he plans to review and announce measures to reduce the rent burden on small business owners due to the COVID-19 pandemic.

At a detailed briefing on the '2021 Economic Policy Direction' held jointly by related ministries at the Government Seoul Office in Gwanghwamun, Seoul, Hong responded to a question about the government's opinion on the 'Rent Freeze Act' being discussed mainly by the ruling party, saying, "We will include measures to somehow alleviate the rent burden on small business owners in the current damage support measures and review them together."

He explained, "Previously, the support amount for the Small Business New Hope Fund was between 1 million and 2 million won," adding, "This cash could be used not only for rent but also for various other utility bills or funds necessary for management without any restrictions." He continued, "I believe it also helped significantly in paying rent," and added, "We understand that the burden on businesses subject to gathering bans has increased sharply as the number of confirmed cases surged. Various support measures are being discussed, and once finalized, they will be announced at an appropriate time."

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