The Teachers' Mutual Aid Association Extends Rent Reduction Until June
[Asia Economy Reporter Park Jihwan] The-K Korea Teachers' Credit Union announced on the 11th that it will extend the rent reduction period for The-K Tower and the union-owned halls for an additional six months following last year, due to the prolonged COVID-19 pandemic. This measure is intended to share the management difficulties faced by small business owners.
Tenants of 35 neighborhood living facilities and small business owners located in The-K Tower and eight halls (Busan, Daegu, Incheon, Gwangju, Daejeon, Chungbuk, Gyeongnam, Jeonbuk halls) will receive a 20-30% rent reduction benefit. Depending on the level of social distancing, the reduction rate can be applied up to 40-70%.
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Jo Gyeongje, Director of Management Support, stated, "We hope this extension measure will provide some relief to tenants facing economic difficulties," and added, "The Teachers' Credit Union will continue to fulfill its social responsibility by coexisting with the local community."
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