[Photo] Kim Mikyung, Eunpyeong District Mayor, Joins 'Good Rent Campaign Establishment and Expansion' Campaign

[Asia Economy Reporter Park Jong-il] Kim Mi-kyung, the mayor of Eunpyeong District Office, participated in the '#ChakjiChallenge' campaign through SNS on the 28th to alleviate the difficulties of small business owners due to the prolonged COVID-19 pandemic and to spread and establish the Good Rent Movement.

The Chakji Challenge is an abbreviation of the Good Rent Support Policy, meaning that local governments take the lead in establishing (Chakji) and spreading (Challenge) the Good Rent Movement.

Mayor Kim Mi-kyung said, "Through the Good Rent Movement Challenge, we hope to create a social atmosphere of coexistence and actively encourage landlords to reduce rents so that small business owners can overcome difficult times with the warm kindness of their neighbors."

Landlords who participate in the Good Rent Movement by reducing rent can receive a tax credit of up to 70% of the reduced amount (up to 50% if comprehensive income exceeds 100 million KRW) starting from the 2021 tax year.

To stabilize commercial rent and prevent displacement within the district, Eunpyeong-gu enacted the Ordinance on Win-Win Cooperation in Local Commercial Districts in 2020 and signed a total of 55 win-win agreements. In 2021, the district plans to support building maintenance costs through public contests for stores that have signed win-win agreements.

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