[Photo] Kim Young-jong, Jongno-gu Mayor, Joins the 'Good Rent' Challenge

[Asia Economy Reporter Jongil Park] Kim Young-jong, Mayor of Jongno District, joined the "Good Rent" spread challenge on the 26th to support small business owners and self-employed individuals struggling due to COVID-19.

This challenge was initiated by the National Association of Mayors, Governors, and District Heads to promote the government's rent support policy primarily among local governments and to encourage the nationwide spread of the Good Rent movement.

Kim Young-jong, Mayor of Jongno District, stated, "I ask for your support in spreading the Good Rent initiative for small business owners and the self-employed," adding, "It will greatly help overcome COVID-19 and foster a mutually beneficial local culture."

Earlier this month, the Ministry of Economy and Finance announced an amendment to the Restriction of Special Taxation Act, which provides a 70% tax deduction on the reduced rent amount for landlords who voluntarily reduce rent for small business tenants struggling due to COVID-19.

This measure aims to encourage more landlords to participate amid the increasing rent burden on small business tenants caused by the third wave of COVID-19.

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