Gangbuk-gu, Up to 1 Million Won Support for Good Landlords

Seoul Love Gift Certificates Provided to Local Landlords Reducing Rent... Support Up to 1 Million Won... Apply by March 31 via District Office Visit or Registered Mail

[Asia Economy Reporter Park Jong-il] Gangbuk-gu (District Mayor Park Gyeom-su) is conducting a Good Landlord Support Project and is accepting applicants until March 31.

The district is implementing this project to encourage landlords' voluntary rent reductions in response to the increased burden on tenants due to business difficulties and lack of funds caused by the COVID-19 pandemic.

Eligible participants are landlords with a converted deposit of 900 million KRW or less who have reduced or plan to reduce rent during the period from January to December 2021.

Participants will be given Seoul Love Gift Certificates, a type of mobile gift card.

The district plans to provide support based on the total amount of rent reduction as follows: 300,000 KRW for reductions between 1 million and less than 5 million KRW, 500,000 KRW for reductions between 5 million and less than 10 million KRW, and 1 million KRW for reductions of 10 million KRW or more.

Applicants wishing to receive support should bring the coexistence agreement and application form along with other required documents to the Job and Economy Division on the 6th floor of the district office or apply via registered mail (Job and Economy Division, Gangbuk-gu Office, 13 Dobong-ro 89-gil).

Information on required documents and other details can be found in the ‘Notices and Announcements’ section on the district office website.

The district will verify the eligibility of applicants through the signing of the coexistence agreement and select recipients, notifying landlords of the final results via text message or other means in April. For more details, please contact the Job and Economy Division of Gangbuk-gu Office.

Park Gyeom-su, Mayor of Gangbuk-gu, stated, “With the COVID-19 situation continuing for over a year and the local economy suffering significant damage, it is more important than ever to overcome these difficult times together through coexistence between landlords and tenants. We ask all landlords to actively participate in this project aimed at protecting small business owners and revitalizing the local economy.”

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