Up to 1 Million Won Yangcheon Sarang Gift Certificates Provided to Kind Landlords

Support for Tenant and Rent Reduction Win-Win Agreement... Up to 1 Million Won Yangcheon Sarang Gift Certificates per Person Provided

Kim Soo-young, Yangcheon District Mayor, Appeals to Join the Good Rent Campaign

[Asia Economy Reporter Park Jong-il] Yangcheon-gu (Mayor Kim Soo-young) is promoting the ‘Good Landlord Support Project’ to revitalize the domestic economy, which has been depressed due to COVID-19, and to alleviate the rent burden on tenants.

The support targets landlords who have reduced or plan to reduce rent for stores with a converted deposit of 900 million KRW or less within commercial buildings as defined by the Commercial Building Lease Protection Act in 2021. Buildings classified as illegal constructions in the building register are excluded from support.

A maximum of 1 million KRW in Yangcheon Love Gift Certificates will be provided per person according to the total rent reduction amount: 300,000 KRW for reductions between 1 million KRW and less than 5 million KRW, 500,000 KRW for reductions between 5 million KRW and less than 10 million KRW, and 1 million KRW for reductions of 10 million KRW or more.

Good landlords wishing to apply should prepare the application documents and visit or mail them to the district office department in charge (such as the Job Economy Division) at the location of the commercial building from February 15 to March 31. For more detailed information, refer to the good landlord-related announcement on the district office website under Notices and Announcements.

Kim Soo-young, Mayor of Yangcheon-gu, stated, “In the situation where the rent burden on small business owners is increasing due to the prolonged COVID-19 pandemic, I hope the Good Landlord Project will spread widely and voluntary coexistence between landlords and tenants will be achieved.”

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