Dobong-gu Offers Up to 50% Rent Reduction for Small Business Tenants Leasing District-Owned Properties
For small business owners who prepaid rent in 2021, 50% of the discount will be refunded, and for those unable to operate due to closure of old-owned buildings, the rental period will be extended or a full prorated refund will be provided for the affected period.
[Asia Economy Reporter Jongil Park] Dobong-gu (Mayor Dongjin Lee) will reduce rent by up to 50% to support small business owners renting district-owned properties who have suffered economic damage due to the COVID-19 pandemic.
Following the revision of the Enforcement Decree of the Act on the Management of Public Assets and Goods, the basis for reducing rent for small business owners renting district-owned properties has been established. Dobong-gu provided a rent reduction of up to 50% for one year in 2020, totaling 136 million KRW across 16 locations, and has finalized a plan to reduce rent by up to 50% for six months from January to June 2021.
For small business owners who prepaid their 2021 rent, the district will refund 50% of the rent reduction. In cases where business operations were suspended due to the closure of district-owned buildings, the rental period will be extended accordingly, or rent will be prorated or fully refunded.
The support targets small business owners who rent Dobong-gu district-owned properties and operate business or profit activities, including concession stands, cafes within district cultural and sports facilities, and leased land for restaurants.
As a result, a total of 16 locations can receive rent reductions up to 97 million KRW.
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Mayor Dongjin Lee of Dobong-gu stated, “As COVID-19 prolongs, I hope this rent reduction provides some economic relief to small business owners renting district-owned properties who have suffered unexpected damage. Dobong-gu will continue to actively support small business owners and do its best to restore the local economy, which has been weakened by COVID-19.”
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