Songpa-gu Extends Support for Small Business Owners Including Used Property Cafes Facing Sales Decline Due to COVID-19

Extension of Support Until June for Small Business Owners Operating Cafes, Restaurants, etc., Non-Residential Tenants of District-Owned Properties Managed by Songpa-gu

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Seongsu Park) will extend support for small business owners renting district-owned properties who are struggling due to worsening business conditions and decreased sales caused by the spread of COVID-19.

Since February last year, the district has been providing a 50% rent reduction to small business owners renting district-owned properties, but as the COVID-19 situation has not ended, the support will be extended until June this year.

The expected amount of rent reduction through this policy is estimated to reach 85 million KRW.

The beneficiaries are small business owners who rent district-owned properties managed by Songpa-gu and operate cafes, restaurants, etc., for non-residential purposes.

Applications can be submitted to the relevant department of Songpa-gu Office for lease contracts signed by January 29.

Support is provided either by refunding rent already paid or by reducing the next rent upon contract renewal. For more details, inquiries can be made at the Finance Department of Songpa-gu.

Mayor Seongsu Park of Songpa-gu stated, “We will actively participate in the ‘Good Landlord Movement’ voluntarily carried out by the private sector and do our best to prepare various support measures for small business owners who are struggling and exhausted due to COVID-19.”

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